Gakken Holdings Co., Ltd.

9470.T · Consumer Defensive · Education & Training Services · Valued as of 2026-11-03 · Statements 2025-09-30

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

777.92M USD

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

Profit

334.49M USD

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

FCFF

533.64M USD

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

Average Intrinsic Value

548.68M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

272.08M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

2.02×

the ratio the screener ranks by

Margin of Safety

+50.4%

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: 777.92M 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)784.29M USD
−②Net Debt Today111.53M USD
+③Growth Value105.17M USD
=Value777.92M USD

EPV of the Operations (NOPAT over WACC)

784.29M USD

Net debt today

-111.53M USD

Growth Value

+105.17M USD

Value

777.92M USD

①EPV (Earnings Power Value)

784.29M USD

②Net Debt Today

111.53M USD

③Growth Value

105.17M USD

Market value

Market Cap272.08M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+65.0%

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): 334.49M 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 FCFE146.99M USD
+②Equity at Year 15, Today187.50M USD
=Value334.49M 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

146.99M USD

②Equity at Year 15, Today

187.50M USD

Market value

Market Cap272.08M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+18.7%

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): 533.64M 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 FCFF230.69M USD
+②Invested Capital at Year 15, Today414.48M USD
−③Net Debt Today111.53M USD
=Value533.64M 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 rising 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

230.69M USD

②Invested Capital at Year 15, Today

414.48M USD

③Net Debt Today

111.53M USD

Market value

Market Cap272.08M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+49.0%

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: 3.52%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.30×Market Risk Premium 6.00%= 6.32%

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 27.26M USDPretax Income 59.17M USD= 46.07%

The tax the interest saves.

Interest Expense =EBIT 62.66M USD−Pretax Income 59.17M USD= 3.48M USD

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

Cost of Debt =Interest Expense 3.48M USDTotal Debt 269.38M USD×(1 − Tax Rate for WACC 46.07%)= 0.70%

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

Debt Weight =Total Debt 269.38M USDMarket Cap + Total Debt 272.08M USD + 269.38M USD= 49.75%

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

WACC =Equity Weight 50.25%×Cost of Equity 6.32%+Debt Weight 49.75%×Cost of Debt 0.70%= 3.52%

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 934.29M USD − Total Liabilities 552.69M USD = Book Value Today 381.59M USD

Total Debt 269.38M USD − Cash and Short-Term Investments 157.85M USD = Net Debt Today 111.53M 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 − 1-5.8%at most 5%passes41,538,879 / 44,107,393
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets3.1%at least -10.0%passes(52.66M USD − 24.10M USD) ÷ 934.29M USD
Price to bookMarket Cap ÷ Book Value Today0.71×at most 3×passes272.08M USD ÷ 381.59M USD
Operating marginOperating Income ÷ Revenue4.1%above 10.0%does not pass55.49M USD ÷ 1.34B USD
Revenue growthRevenue ÷ Revenue a Year Before − 13.1%above 10.0%does not pass1.34B USD / 1.30B USD
Net cash(Cash − Total Debt) ÷ Market Cap-41.0%above -30%does not pass(157.85M USD − 269.38M USD) ÷ 272.08M USD
Operating efficiencyOperating Income ÷ Gross Profit15.0%above 25.0%does not pass55.49M USD ÷ 370.19M USD

Market Data

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

Share price

1025.02 JPY

Enterprise value

66.72B JPY

the provider's own figure

EV / EBITDA

4.75×

Price / book

0.80×

the provider's book

Price / earnings

13.16×

Return on equity

8.0%

the provider's figure, not this page's

Profit margin

1.7%

Revenue growth

6.6%

Analyst target, mean

1477.48 JPY

Analysts

1

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

1.08B1.10B1.30B1.34B

Gross profit

321.76M312.95M349.81M370.19M

Operating income

44.54M41.36M48.23M55.49M

EBITDA

operating income before depreciation and amortisation

66.89M67.57M71.81M94.56M

Pretax income

44.67M44.94M39.50M59.17M

Net income

23.84M21.41M15.84M24.10M

Normalized income

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

26.42M20.24M22.67M19.06M

R&D

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

Total assets

857.20M913.80M916.39M937.67M

Total liabilities

518.37M544.91M540.25M537.05M

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

337.47M355.09M362.25M347.53M

Total debt

286.69M283.22M262.07M240.01M

Cash and equivalents

156.08M139.66M142.91M154.37M

Net PP&E

fixed assets after depreciation

126.83M128.62M139.88M113.97M

Working capital

current assets less current liabilities

151.52M121.12M139.69M199.76M
Cash flow (USD)2022202320242025

Operating cash flow

35.81M36.59M50.18M52.66M

Capital expenditure

paid out, so below zero

-22.96M-14.73M-27.73M-24.31M

Depreciation and amortisation

20.99M21.12M30.03M31.90M

Free cash flow

operating cash flow plus capital expenditure

12.85M21.87M22.46M28.35M