Koryojyuhan Co Ltd

Koryojyuhan Co Ltd maintains a liquidity position with a current ratio of 2.23 and cash and equivalents of ¥2,562,718,000, but its long-term debt of ¥6,059,520,000 results in a debt-to-equity ratio of 1.19, indicating moderate leverage. The company's price-to-book ratio of 1.29 and price-to-tangible-book ratio of 1.29 suggest that the market values the company slightly above its book value. The enterprise value to EBITDA ratio of 56.86 and enterprise value to revenue ratio of 3.83 indicate a high valuation relative to earnings and revenue.

The company's profitability is modest, with a return on equity of 2.33% and a return on assets of 0.79%, both below the industry median for real estate services. The operating margin of 6.73% (¥176,946,000 operating income on ¥2,629,993,000 revenue) is also below the industry average, suggesting inefficiencies in cost management or pricing power. The gross margin of 38.02% (¥1,000,035,000 gross profit on ¥2,629,993,000 revenue) is in line with industry norms, but the company's operating income margin is weak.

Koryojyuhan's revenue is concentrated in a single business segment, with no disclosed geographic diversification in the latest financials. The company's exposure to a single market increases its vulnerability to regional economic downturns or regulatory changes. No material revenue concentration by geography is disclosed, but the lack of segmental breakdown limits visibility into geographic performance.

The company's growth trajectory is uncertain, with no disclosed revenue growth in the latest period. The price-to-earnings ratio of 55.22 suggests that the market is pricing in future earnings growth, but the company's current earnings of ¥118,882,000 on a market cap of ¥6,564,611,400 indicate a high valuation. The capital expenditure of -¥315,062,000 suggests a reduction in investment, which may signal a shift in strategy or financial constraints.

Koryojyuhan faces moderate liquidity risk, with a current ratio of 2.23 and cash and equivalents of ¥2,562,718,000, but its long-term debt of ¥6,059,520,000 results in a net cash position that is negative after subtracting total debt. The company's dilution risk is low, with no significant changes in shares outstanding between basic and diluted shares. No recent events or filings have been disclosed that would materially impact the company's operations or valuation.

No recent events or filings have been disclosed that would materially impact the company's operations or valuation. The company's operating cash flow of ¥573,809,000 is positive but insufficient to cover its capital expenditures, indicating a need for external financing or a reduction in investment. The company's financial position is stable but not robust, with a market price of ¥2,360 and a market cap of ¥6,564,611,400.

Revenue grew 14.9% year-over-year to JPY 11.5 billion in fiscal 2025, demonstrating strong top-line expansion.

Net income surged 40.6% to JPY 1.0 billion in fiscal 2025, significantly outpacing revenue growth.

Free cash flow nearly doubled to JPY 1.1 billion in fiscal 2025, reflecting robust cash generation capabilities.

Cash conversion ratio of 4.83 is best-in-class compared to the cohort median of 0.65.

Debt-to-equity ratio of 1.19 is in the bottom quartile, significantly higher than the cohort median of 0.15.

The company faces high credit risk, posing a significant threat to financial stability and lending capacity.

Net margin of 4.5% is slightly below the Real Estate Services cohort median of 4.5%.

Medium liquidity risk indicates potential challenges in meeting short-term financial obligations promptly.

Revenue ¥2.85B, −14,2% YoY; Operating income −79,2% YoY.

• ▍Revenue ¥2.85B, −14,2% YoY
• ▍Operating income −79,2% YoY
• ▍Net income −87,0% YoY
• ▍Net margin 2.4%

Revenue ¥1.94B, −2,5% YoY; Operating income −32,5% YoY.

• ▍Revenue ¥1.94B, −2,5% YoY
• ▍Operating income −32,5% YoY
• ▍Net income −13,4% YoY
• ▍Net margin 4.0%

Revenue ¥2.60B, +14,8% YoY; Operating income +1,4% YoY.

• ▍Revenue ¥2.60B, +14,8% YoY
• ▍Operating income +1,4% YoY
• ▍Net income +1,8% YoY
• ▍Net margin 5.5%

Revenue ¥3.67B, +39,6% YoY; Operating income +131,8% YoY.

• ▍Revenue ¥3.67B, +39,6% YoY
• ▍Operating income +131,8% YoY
• ▍Net income +136,5% YoY
• ▍Net margin 7.7%

Revenue ¥3.32B; Operating income ¥342.2M.

• ▍Revenue ¥3.32B
• ▍Operating income ¥342.2M
• ▍Net margin 15.5%

Revenue ¥1.99B; Operating income ¥125.7M.

• ▍Revenue ¥1.99B
• ▍Operating income ¥125.7M
• ▍Net margin 4.5%

Revenue ¥2.27B; Operating income ¥214.6M.

• ▍Revenue ¥2.27B
• ▍Operating income ¥214.6M
• ▍Net margin 6.2%

Revenue ¥2.63B; Operating income ¥176.9M.

• ▍Revenue ¥2.63B
• ▍Operating income ¥176.9M
• ▍Net margin 4.5%

Revenue ¥11.53B, +14,9% YoY; Operating income +20,4% YoY.

• ▍Revenue ¥11.53B, +14,9% YoY
• ▍Operating income +20,4% YoY
• ▍Net income +40,6% YoY
• ▍Free cash flow +100,0% YoY
• ▍Net margin 8.8%

Revenue ¥10.04B, +7,6% YoY; Operating income −4,4% YoY.

• ▍Revenue ¥10.04B, +7,6% YoY
• ▍Operating income −4,4% YoY
• ▍Net income +10,6% YoY
• ▍Free cash flow −7,7% YoY
• ▍Net margin 7.2%

Revenue ¥9.32B, +7,0% YoY; Operating income +24,6% YoY.

• ▍Revenue ¥9.32B, +7,0% YoY
• ▍Operating income +24,6% YoY
• ▍Net income +32,5% YoY
• ▍Free cash flow +311,7% YoY
• ▍Net margin 7.0%

Revenue ¥8.71B, +11,7% YoY; Operating income +29,0% YoY.

• ▍Revenue ¥8.71B, +11,7% YoY
• ▍Operating income +29,0% YoY
• ▍Net income +26,0% YoY
• ▍Free cash flow −175,9% YoY
• ▍Net margin 5.7%