Finatext Holdings Ltd.

4419.T · Technology · Software - Infrastructure · Valued as of 2026-11-05 · Statements 2026-03-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

72.40M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

79.56M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

72.40M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

74.79M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

473.29M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.16×

the ratio the screener ranks by

Margin of Safety

-532.8%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 72.40M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).

The earnings power value was not computed (a normalized NOPAT at or below zero), so the value is the book value today, 72.40M USD.

Market value

Market Cap473.29M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-553.7%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 79.56M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE43.22M USD
+②Equity at Year 15, Today36.34M USD
=Value79.56M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment rising to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

43.22M USD

②Equity at Year 15, Today

36.34M USD

Market value

Market Cap473.29M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-494.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 72.40M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 72.40M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Cash Today

Not in the value

Market value

Market Cap473.29M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-553.7%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 10.70%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.07×Market Risk Premium 6.00%= 10.91%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 1.07M USDPretax Income 11.65M USD= 9.18%

The tax the interest saves.

Interest Expense =EBIT 11.83M USD−Pretax Income 11.65M USD= 172.86K USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 172.86K USDTotal Debt 10.76M USD×(1 − Tax Rate for WACC 9.18%)= 1.46%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 10.76M USDMarket Cap + Total Debt 473.29M USD + 10.76M USD= 2.22%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 97.78%×Cost of Equity 10.91%+Debt Weight 2.22%×Cost of Debt 1.46%= 10.70%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-03-31.

Total Assets 145.83M USD − Total Liabilities 73.43M USD = Book Value Today 72.40M USD

Total Debt 10.76M USD − Cash and Short-Term Investments 24.94M USD = Net Debt Today -14.18M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 13.7%at most 5%passes51,898,282 / 50,070,184
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-7.6%at least -10.0%passes(-1.67M USD − 9.48M USD) ÷ 145.83M USD
Price to bookMarket Cap ÷ Book Value Today6.54×at most 3×does not pass473.29M USD ÷ 72.40M USD
Operating marginOperating Income ÷ Revenue17.2%above 10.0%passes11.90M USD ÷ 69.22M USD
Revenue growthRevenue ÷ Revenue a Year Before − 134.3%above 10.0%passes69.22M USD / 51.53M USD
Net cash(Cash − Total Debt) ÷ Market Cap2.9%above -30%passes(24.62M USD − 10.76M USD) ÷ 473.29M USD
Operating efficiencyOperating Income ÷ Gross Profit24.8%above 25.0%does not pass11.90M USD ÷ 47.92M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

1444.44 JPY

Enterprise value

71.84B JPY

the provider's own figure

EV / EBITDA

34.92×

Price / book

6.51×

the provider's book

Price / earnings

49.57×

Return on equity

17.3%

the provider's figure, not this page's

Profit margin

14.5%

Revenue growth

35.1%

Analyst target, mean

1841.84 JPY

Analysts

2

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2023202420252026

Revenue

28.71M35.53M51.53M69.22M

Gross profit

15.77M21.32M34.34M47.92M

Operating income

-2.47M1.35M6.36M11.90M

EBITDA

operating income before depreciation and amortisation

-2.38M855.41K7.10M12.94M

Pretax income

-2.81M239.44K6.21M11.65M

Net income

-2.92M-518.53K4.41M9.48M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-2.63M386.21K4.49M9.48M

R&D

————
Balance sheet, year end (USD)2023202420252026

Total assets

133.09M133.36M127.30M145.83M

Total liabilities

66.94M75.71M62.89M73.43M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

62.28M54.33M60.90M67.97M

Total debt

281.81K4.41M10.71M10.76M

Cash and equivalents

40.24M31.52M29.80M24.62M

Net PP&E

fixed assets after depreciation

691.25K719.02K521.56K716.21K

Working capital

current assets less current liabilities

63.77M57.22M61.91M68.70M
Cash flow (USD)2023202420252026

Operating cash flow

-1.35M-6.20M-6.32M-1.67M

Capital expenditure

paid out, so below zero

-1.68M-1.76M-2.36M-1.98M

Depreciation and amortisation

423.33K577.08K792.66K1.11M

Free cash flow

operating cash flow plus capital expenditure

-3.02M-7.96M-8.69M-3.66M