SBI Leasing Services Co., Ltd.

5834.T · Industrials · Rental & Leasing Services · Valued as of 2026-11-03 · 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

1.12B USD

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

Profit

639.39M USD

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

FCFF

180.06M USD

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

Average Intrinsic Value

645.04M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

278.47M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

2.32×

the ratio the screener ranks by

Margin of Safety

+56.8%

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: 1.12B 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)1.05B USD
+②Net Cash Today69.43M USD
+③Growth Value0 USD
=Value1.12B USD

EPV of the Operations (NOPAT over WACC)

1.05B USD

Net cash today

+69.43M USD

Growth Value

0 USD

Value

1.12B USD

①EPV (earnings power value)

1.05B USD

②Net Cash Today

69.43M USD

③Growth Value

0 USD

Market value

Market Cap278.47M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+75.0%

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): 639.39M 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 FCFE360.02M USD
+②Equity at Year 15, Today279.37M USD
=Value639.39M 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

360.02M USD

②Equity at Year 15, Today

279.37M USD

Market value

Market Cap278.47M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+56.4%

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): 180.06M 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 (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 180.06M 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 Cap278.47M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-54.7%

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: 3.47%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.45×Market Risk Premium 6.00%= 7.18%

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 16.28M USDPretax Income 54.18M USD= 30.05%

The tax the interest saves.

Interest Expense =EBIT 61.89M USD−Pretax Income 54.18M USD= 7.70M USD

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

Cost of Debt =Interest Expense 7.70M USDTotal Debt 453.22M USD×(1 − Tax Rate for WACC 30.05%)= 1.19%

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

Debt Weight =Total Debt 453.22M USDMarket Cap + Total Debt 278.47M USD + 453.22M USD= 61.94%

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

WACC =Equity Weight 38.06%×Cost of Equity 7.18%+Debt Weight 61.94%×Cost of Debt 1.19%= 3.47%

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 703.05M USD − Total Liabilities 522.99M USD = Book Value Today 180.06M USD

Total Debt 453.22M USD − Cash and Short-Term Investments 522.65M USD = Net Debt Today -69.43M 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 − 12.4%at most 5%passes15,926,968 / 15,553,452
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-5.4%at least -10.0%passes(81.41K USD − 37.89M USD) ÷ 703.05M USD
Price to bookMarket Cap ÷ Book Value Today1.55×at most 3×passes278.47M USD ÷ 180.06M USD
Operating marginOperating Income ÷ Revenue15.1%above 10.0%passes60.94M USD ÷ 402.41M USD
Revenue growthRevenue ÷ Revenue a Year Before − 143.5%above 10.0%passes402.41M USD / 280.44M USD
Net cash(Cash − Total Debt) ÷ Market Cap-146.8%above -30%does not pass(44.43M USD − 453.22M USD) ÷ 278.47M USD
Operating efficiencyOperating Income ÷ Gross Profit69.9%above 25.0%passes60.94M USD ÷ 87.20M USD

Market Data

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

Share price

2741.74 JPY

Enterprise value

90.34B JPY

the provider's own figure

EV / EBITDA

7.61×

Price / book

1.43×

the provider's book

Price / earnings

7.34×

Return on equity

25.0%

the provider's figure, not this page's

Profit margin

9.2%

Revenue growth

113.6%

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)2023202420252026

Revenue

297.38M357.90M280.44M402.41M

Gross profit

53.86M54.93M69.94M87.20M

Operating income

30.26M35.10M45.02M60.94M

EBITDA

operating income before depreciation and amortisation

33.15M40.45M51.31M66.46M

Pretax income

26.42M32.45M40.58M54.18M

Net income

18.36M22.78M29.36M37.89M

Normalized income

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

17.98M22.19M27.32M36.18M

R&D

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

Total assets

363.38M500.37M707.69M703.05M

Total liabilities

229.79M360.81M539.29M522.99M

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

133.59M139.56M168.40M180.06M

Total debt

174.39M323.24M484.40M453.22M

Cash and equivalents

103.80M83.63M59.79M44.43M

Net PP&E

fixed assets after depreciation

67.33M54.42M50.65M43.35M

Working capital

current assets less current liabilities

155.11M157.15M160.14M262.69M
Cash flow (USD)2023202420252026

Operating cash flow

27.89M-176.17M-177.34M81.41K

Capital expenditure

paid out, so below zero

-62.02M-244.57K-187.33K-112.72K

Depreciation and amortisation

3.84M4.81M4.86M4.58M

Free cash flow

operating cash flow plus capital expenditure

-34.13M-176.41M-177.52M-31.31K