HASEKO Corporation

HS6.F · Consumer Cyclical · Residential Construction · Valued as of 2026-11-04 · 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

8.87B USD

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

Profit

5.38B USD

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

FCFF

3.53B USD

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

Average Intrinsic Value

5.93B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

4.43B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.34×

the ratio the screener ranks by

Margin of Safety

+25.3%

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: 8.87B 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)9.70B USD
−②Net Debt Today834.61M USD
+③Growth Value0 USD
=Value8.87B USD

EPV of the Operations (NOPAT over WACC)

9.70B USD

Net debt today

-834.61M USD

Growth Value

0 USD

Value

8.87B USD

①EPV (Earnings Power Value)

9.70B USD

②Net Debt Today

834.61M USD

③Growth Value

0 USD

Market value

Market Cap4.43B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+50.1%

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): 5.38B 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 FCFE2.82B USD
+②Equity at Year 15, Today2.56B USD
=Value5.38B 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

2.82B USD

②Equity at Year 15, Today

2.56B USD

Market value

Market Cap4.43B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+17.7%

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): 3.53B 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, 3.53B 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 Debt Today

Not in the value

Market value

Market Cap4.43B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-25.4%

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: 4.11%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.28×Market Risk Premium 6.00%= 6.17%

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 216.40M USDPretax Income 560.21M USD= 38.63%

The tax the interest saves.

Interest Expense =EBIT 589.93M USD−Pretax Income 560.21M USD= 29.72M USD

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

Cost of Debt =Interest Expense 29.72M USDTotal Debt 2.66B USD×(1 − Tax Rate for WACC 38.63%)= 0.69%

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

Debt Weight =Total Debt 2.66B USDMarket Cap + Total Debt 4.43B USD + 2.66B USD= 37.55%

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

WACC =Equity Weight 62.45%×Cost of Equity 6.17%+Debt Weight 37.55%×Cost of Debt 0.69%= 4.11%

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 8.88B USD − Total Liabilities 5.35B USD = Book Value Today 3.53B USD

Total Debt 2.66B USD − Cash and Short-Term Investments 1.83B USD = Net Debt Today 834.61M 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 − 1-3.0%at most 5%passes264,644,418 / 272,784,787
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets7.2%at least -10.0%passes(985.80M USD − 343.43M USD) ÷ 8.88B USD
Price to bookMarket Cap ÷ Book Value Today1.25×at most 3×passes4.43B USD ÷ 3.53B USD
Operating marginOperating Income ÷ Revenue7.8%above 10.0%does not pass618.38M USD ÷ 7.97B USD
Revenue growthRevenue ÷ Revenue a Year Before − 11.2%above 10.0%does not pass7.97B USD / 7.88B USD
Net cash(Cash − Total Debt) ÷ Market Cap-20.5%above -30%passes(1.75B USD − 2.66B USD) ÷ 4.43B USD
Operating efficiencyOperating Income ÷ Gross Profit52.0%above 25.0%passes618.38M USD ÷ 1.19B USD

Market Data

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

Share price

14.91 EUR

Enterprise value

192.12B EUR

the provider's own figure

EV / EBITDA

1.63×

Price / book

1.23×

the provider's book

Price / earnings

11.37×

Return on equity

11.6%

the provider's figure, not this page's

Profit margin

4.9%

Revenue growth

9.2%

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

7.72B7.23B7.88B7.97B

Gross profit

1.21B1.06B1.11B1.19B

Operating income

677.56M566.78M566.68M618.38M

EBITDA

operating income before depreciation and amortisation

718.75M614.33M484.67M647.97M

Pretax income

656.37M547.58M406.05M560.21M

Net income

445.83M370.40M230.48M343.43M

Normalized income

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

450.54M372.61M347.22M361.10M

R&D

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

Total assets

9.00B8.93B9.13B8.88B

Total liabilities

5.59B5.55B5.57B5.35B

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

3.41B3.38B3.56B3.52B

Total debt

2.94B2.74B2.81B2.66B

Cash and equivalents

1.55B1.88B1.58B1.75B

Net PP&E

fixed assets after depreciation

1.59B1.16B962.64M894.08M

Working capital

current assets less current liabilities

3.69B4.15B4.08B4.09B
Cash flow (USD)2023202420252026

Operating cash flow

-390.09M760.29M26.20M985.80M

Capital expenditure

paid out, so below zero

-266.38M-159.68M-138.23M-132.34M

Depreciation and amortisation

47.96M50.56M54.87M58.04M

Free cash flow

operating cash flow plus capital expenditure

-656.48M600.61M-112.03M853.46M