ScoreWhy is CHANGE Holdings, Inc. ?
1
Negative results in Jun 26
- OPERATING CASH FLOW(Y) Lowest at JPY 8,456 MM
- NET SALES(Q) At JPY 10,887 MM has Fallen at -17.56%
- PRE-TAX PROFIT(Q) At JPY 393 MM has Fallen at -85.46%
2
With ROE of 15.36%, it has a attractive valuation with a 1.46 Price to Book Value
- The stock is trading at a premium compared to its peers' average historical valuations
- Over the past year, while the stock has generated a return of -16.22%, its profits have fallen by -11.8%
3
Consistent Underperformance against the benchmark over the last 3 years
- Along with generating -16.22% returns in the last 1 year, the stock has also underperformed Japan Nikkei 225 in each of the last 3 annual periods
Real-Time Research ReportHow much should you hold?
- Overall Portfolio exposure to CHANGE Holdings, Inc. should be less than 10%
- Overall Portfolio exposure to Software Products should be less than 30%
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Software Products)
When to exit? - We will constantly monitor the company and suggest at the appropriate time to exit from the stock
Is CHANGE Holdings, Inc. for you?
Low Risk, Low Return
Absolute
Risk Adjusted
Volatility
CHANGE Holdings, Inc.
-16.44%
-0.63
32.90%
Japan Nikkei 225
45.04%
1.48
29.43%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
38.26%
EBIT Growth (5y)
27.33%
EBIT to Interest (avg)
80.81
Debt to EBITDA (avg)
Net Debt is too low
Net Debt to Equity (avg)
0.08
Sales to Capital Employed (avg)
0.64
Tax Ratio
35.46%
Dividend Payout Ratio
23.07%
Pledged Shares
0
Institutional Holding
0
ROCE (avg)
83.46%
ROE (avg)
19.84%
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
9
Industry P/E
Price to Book Value
1.46
EV to EBIT
6.20
EV to EBITDA
5.03
EV to Capital Employed
1.42
EV to Sales
1.38
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
22.87%
ROE (Latest)
15.36%
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Bullish
Mildly Bullish
RSI
No Signal
No Signal
Bollinger Bands
Mildly Bullish
Bearish
Moving Averages
Bullish (Daily)
KST
Bullish
Bearish
Dow Theory
No Trend
No Trend
OBV
No Trend
No Trend
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend10What is working for the Company
NET PROFIT(HY)
Higher at JPY 175.07 MM
RAW MATERIAL COST(Y)
Fallen by -1.45% (YoY
-16What is not working for the Company
OPERATING CASH FLOW(Y)
Lowest at JPY 8,456 MM
NET SALES(Q)
At JPY 10,887 MM has Fallen at -17.56%
PRE-TAX PROFIT(Q)
At JPY 393 MM has Fallen at -85.46%
NET PROFIT(Q)
At JPY 99 MM has Fallen at -94.28%
INTEREST COVERAGE RATIO(Q)
Lowest at 761.69
INTEREST(Q)
Highest at JPY 154 MM
OPERATING PROFIT(Q)
Lowest at JPY 1,173 MM
Here's what is working for CHANGE Holdings, Inc.
Raw Material Cost
Fallen by -1.45% (YoY)
MOJO Watch
The company's ability to pass on the cost of raw materials to customers has improved; this may lead to a rise in profit margin
Raw Material Cost as a percentage of Sales
Here's what is not working for CHANGE Holdings, Inc.
Net Sales
At JPY 10,887 MM has Fallen at -17.56%
over average net sales of the previous four periods of JPY 13,206.75 MMMOJO Watch
Near term sales trend is extremely negative
Net Sales (JPY MM)
Pre-Tax Profit
At JPY 393 MM has Fallen at -85.46%
over average net sales of the previous four periods of JPY 2,703 MMMOJO Watch
Near term Pre-Tax Profit trend is very negative
Pre-Tax Profit (JPY MM)
Net Profit
At JPY 99 MM has Fallen at -94.28%
over average net sales of the previous four periods of JPY 1,732.26 MMMOJO Watch
Near term Net Profit trend is very negative
Net Profit (JPY MM)
Operating Cash Flow
Lowest at JPY 8,456 MM and Fallen
In each year in the last three yearsMOJO Watch
The company's cash revenues from business operations are falling
Operating Cash Flows (JPY MM)
Interest Coverage Ratio
Lowest at 761.69
in the last five periodsMOJO Watch
The company's ability to manage interest payments is deteriorating
Operating Profit to Interest
Interest
Highest at JPY 154 MM
in the last five periods and Increased by 9.22% (QoQ)MOJO Watch
Rising interest cost signifies increased borrowings
Interest Paid (JPY MM)
Operating Profit
Lowest at JPY 1,173 MM
in the last five periodsMOJO Watch
Near term Operating Profit trend is negative
Operating Profit (JPY MM)
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