Integral Corporation

5842.T · Financial Services · Asset Management · Valued as of 2026-11-05 · Statements 2025-12-31

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

395.46M USD

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

Profit

663.09M USD

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

FCFF

665.51M USD

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

Average Intrinsic Value

574.69M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

610.61M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.94×

the ratio the screener ranks by

Margin of Safety

-6.3%

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: 395.46M 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).
①EPV (earnings power value)395.46M USD
−②Net Debt Today0 USD
+③Growth Value0 USD
=Value395.46M USD

EPV of the Operations (NOPAT over WACC)

395.46M USD

Net debt today

0 USD

Growth Value

0 USD

Value

395.46M USD

①EPV (Earnings Power Value)

395.46M USD

②Net Debt Today

0 USD

③Growth Value

0 USD

Market value

Market Cap610.61M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-54.4%

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): 663.09M 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 FCFE418.46M USD
+②Equity at Year 15, Today244.63M USD
=Value663.09M 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 falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

418.46M USD

②Equity at Year 15, Today

244.63M USD

Market value

Market Cap610.61M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+7.9%

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): 665.51M 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).
①Present Value of the 15 Years of FCFF419.53M USD
+②Invested Capital at Year 15, Today245.99M USD
−③Net Debt Today0 USD
=Value665.51M USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

419.53M USD

②Invested Capital at Year 15, Today

245.99M USD

③Net Debt Today

0 USD

Market value

Market Cap610.61M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+8.3%

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: 11.00%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.25×Market Risk Premium 6.00%= 11.97%

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 20.42M USDPretax Income 59.29M USD= 34.43%

The tax the interest saves.

Interest Expense =EBIT 61.17M USD−Pretax Income 59.29M USD= 1.89M USD

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

Cost of Debt =Interest Expense 1.89M USDTotal Debt 65.16M USD×(1 − Tax Rate for WACC 34.43%)= 1.90%

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

Debt Weight =Total Debt 65.16M USDMarket Cap + Total Debt 610.61M USD + 65.16M USD= 9.64%

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

WACC =Equity Weight 90.36%×Cost of Equity 11.97%+Debt Weight 9.64%×Cost of Debt 1.90%= 11.00%

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, 2026-06-30.

Total Assets 617.22M USD − Total Liabilities 180.99M USD = Book Value Today 436.23M USD

Net debt today 0: a bank's debt is the money it lends on, not how the business is financed.

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 − 12.9%at most 5%passes34,091,906 / 33,146,700
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-7.7%at least -10.0%passes(-8.83M USD − 38.89M USD) ÷ 617.22M USD
Price to bookMarket Cap ÷ Book Value Today1.40×at most 3×passes610.61M USD ÷ 436.23M USD
Operating marginOperating Income ÷ Revenue99.1%above 10.0%passes59.22M USD ÷ 59.73M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-57.1%above 10.0%does not pass59.73M USD / 139.13M USD
Net cash(Cash − Total Debt) ÷ Market Cap25.6%above -30%passes(221.28M USD − 65.16M USD) ÷ 610.61M USD
Operating efficiencyOperating Income ÷ Gross Profit—above 25.0%not measured59.22M USD ÷ 0 USD

Market Data

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

Share price

2836.83 JPY

Enterprise value

69.42B JPY

the provider's own figure

EV / EBITDA

3.56×

Price / book

1.37×

the provider's book

Price / earnings

7.54×

Return on equity

20.4%

the provider's figure, not this page's

Profit margin

53.9%

Revenue growth

11.7%

Analyst target, mean

—

Analysts

—

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)2022202320242025

Revenue

30.40M58.69M139.13M59.73M

Gross profit

————

Operating income

22.59M77.80M165.87M59.22M

EBITDA

operating income before depreciation and amortisation

24.01M79.16M168.63M63.45M

Pretax income

21.94M77.28M165.68M59.29M

Net income

15.22M53.61M115.44M38.89M

Normalized income

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

15.22M53.61M115.44M38.89M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

262.98M398.45M504.02M533.12M

Total liabilities

116.83M116.30M136.55M133.60M

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

146.14M282.15M367.41M399.48M

Total debt

52.78M36.91M21.75M24.49M

Cash and equivalents

17.39M133.92M141.15M123.37M

Net PP&E

fixed assets after depreciation

4.83M3.28M3.81M4.47M

Working capital

current assets less current liabilities

-32.62M82.88M158.60M98.45M
Cash flow (USD)2022202320242025

Operating cash flow

2.88M39.82M37.10M-8.83M

Capital expenditure

paid out, so below zero

-5.15K-35.39K-70.14K-537.58K

Depreciation and amortisation

1.40M1.31M1.31M2.27M

Free cash flow

operating cash flow plus capital expenditure

2.88M39.78M37.03M-9.37M