Shinko Shoji Co., Ltd.

8141.T · Technology · Electronics & Computer Distribution · 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

316.70M USD

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

Profit

147.58M USD

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

FCFF

335.29M USD

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

Average Intrinsic Value

266.52M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

285.58M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.93×

the ratio the screener ranks by

Margin of Safety

-7.1%

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: 316.70M 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)141.47M USD
+②Net Cash Today156.77M USD
+③Growth Value18.47M USD
=Value316.70M USD

EPV of the Operations (NOPAT over WACC)

141.47M USD

Net cash today

+156.77M USD

Growth Value

+18.47M USD

Value

316.70M USD

①EPV (Earnings Power Value)

141.47M USD

②Net Cash Today

156.77M USD

③Growth Value

18.47M USD

Market value

Market Cap285.58M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+9.8%

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): 147.58M 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 FCFE22.40M USD
+②Equity at Year 15, Today125.18M USD
=Value147.58M 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 rising 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

22.40M USD

②Equity at Year 15, Today

125.18M USD

Market value

Market Cap285.58M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-93.5%

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): 335.29M 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, 335.29M 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 Cap285.58M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+14.8%

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: 6.03%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.36×Market Risk Premium 6.00%= 6.66%

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 11.02M USDPretax Income 18.37M USD= 60.01%

The tax the interest saves.

Interest Expense =EBIT 18.85M USD−Pretax Income 18.37M USD= 482.21K USD

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

Cost of Debt =Interest Expense 482.21K USDTotal Debt 33.19M USD×(1 − Tax Rate for WACC 60.01%)= 0.58%

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

Debt Weight =Total Debt 33.19M USDMarket Cap + Total Debt 285.58M USD + 33.19M USD= 10.41%

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

WACC =Equity Weight 89.59%×Cost of Equity 6.66%+Debt Weight 10.41%×Cost of Debt 0.58%= 6.03%

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 505.98M USD − Total Liabilities 170.69M USD = Book Value Today 335.29M USD

Total Debt 33.19M USD − Cash and Short-Term Investments 189.96M USD = Net Debt Today -156.77M 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 − 1-13.8%at most 5%passes28,549,899 / 33,105,915
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets5.8%at least -10.0%passes(36.45M USD − 7.06M USD) ÷ 505.98M USD
Price to bookMarket Cap ÷ Book Value Today0.85×at most 3×passes285.58M USD ÷ 335.29M USD
Operating marginOperating Income ÷ Revenue1.2%above 10.0%does not pass7.53M USD ÷ 620.69M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-20.0%above 10.0%does not pass620.69M USD / 776.14M USD
Net cash(Cash − Total Debt) ÷ Market Cap54.9%above -30%passes(189.96M USD − 33.19M USD) ÷ 285.58M USD
Operating efficiencyOperating Income ÷ Gross Profit11.5%above 25.0%does not pass7.53M USD ÷ 65.54M USD

Market Data

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

Share price

1568.57 JPY

Enterprise value

20.72B JPY

the provider's own figure

EV / EBITDA

13.05×

Price / book

0.84×

the provider's book

Price / earnings

40.44×

Return on equity

2.1%

the provider's figure, not this page's

Profit margin

1.1%

Revenue growth

25.1%

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

1.35B1.16B776.14M620.69M

Gross profit

127.77M97.18M61.85M65.54M

Operating income

53.57M32.25M4.26M7.53M

EBITDA

operating income before depreciation and amortisation

55.39M34.57M11.16M20.87M

Pretax income

51.71M30.84M7.96M18.37M

Net income

35.37M21.11M3.38M7.06M

Normalized income

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

35.15M21.59M228.92K1.88M

R&D

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

Total assets

742.68M659.75M535.57M505.98M

Total liabilities

347.71M288.83M184.08M170.69M

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

389.71M365.70M345.89M329.69M

Total debt

133.95M115.55M67.37M33.19M

Cash and equivalents

82.13M88.50M191.45M189.96M

Net PP&E

fixed assets after depreciation

5.79M4.58M4.36M7.56M

Working capital

current assets less current liabilities

419.09M392.81M336.27M298.56M
Cash flow (USD)2023202420252026

Operating cash flow

-6.80M31.05M212.21M36.45M

Capital expenditure

paid out, so below zero

-1.04M-978.26K-628.90K-1.08M

Depreciation and amortisation

2.56M2.60M2.40M2.02M

Free cash flow

operating cash flow plus capital expenditure

-7.84M30.07M211.58M35.38M