¥816.00 ($5.17)

-11.00 (-1.33%)

Weekly Expected Move ±1.4%

¥793 ¥804 ¥816 ¥828 ¥839

JPX · Industrials · Rental & Leasing Services · Tech Score Sell · Power 35 · ¥33.6B mcap · 22M float · 0.333% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ETF Exposure

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. 4345.T receives an overall rating of A. Strongest factors: DCF (5/5), ROE (5/5), ROA (5/5). Areas of concern: D/E (2/5).

Rating Change History

Date	From	To
2026-09-24	None	ADDED
2026-09-23	EXISTED	None
2026-09-18	A+	A
2026-07-22	A-	A+
2026-07-17	A	A-
2026-07-01	A-	A
2026-06-23	A+	A-
2026-05-07	None	ADDED
2026-05-06	EXISTED	None
2026-04-30	A-	A+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 77 Grade A+

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. 4345.T scores highest in Safety (100/100) and lowest in Growth (58/100). An overall grade of A+ places 4345.T among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

6.42

Safe Zone

Piotroski F-Score

8/9

✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✗

Beneish M-Score

-2.37

Unlikely Manipulator

Ohlson O-Score

-11.37

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AAA

Score: 97.1/100

Trend: Stable

Earnings Quality

100/100

OCF/NI: 1.18x

Accruals: -2.4%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. 4345.T scores 6.42, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. 4345.T scores 8/9, signaling strong financial health across all three dimensions. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. 4345.T's score of -2.37 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. 4345.T's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. 4345.T receives an estimated rating of AAA (score: 97.1/100), with a stable trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). 4345.T's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

12.49x

PEG

0.81x

P/S

2.63x

P/B

2.04x

P/FCF

12.64x

P/OCF

11.93x

EV/EBITDA

7.58x

EV/Revenue

2.67x

EV/EBIT

9.84x

EV/FCF

11.71x

Earnings Yield

7.07%

FCF Yield

7.91%

Shareholder Yield

4.95%

Graham Number

$727.52

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 12.5x earnings, 4345.T trades at a reasonable valuation. An earnings yield of 7.1% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $727.52 per share, 12% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.706

NI / EBT

Interest Burden

1.063

EBT / EBIT

EBIT Margin

0.272

EBIT / Rev

Asset Turnover

0.629

Rev / Assets

Equity Multiplier

1.321

Assets / Equity

ROE

16.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. 4345.T's ROE of 16.9% is driven by Asset Turnover (0.629), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

13.23%

Fair P/E

34.95x

Intrinsic Value

$2059.34

Price/Value

0.40x

Margin of Safety

59.55%

Premium

-59.55%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with 4345.T's realized 13.2% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. 4345.T trades at a -60% premium to its adjusted intrinsic value of $2059.34, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 35.0x compares to the current market P/E of 12.5x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$816.00

Median 1Y

$828.55

5th Pctile

$521.29

95th Pctile

$1314.42

Ann. Volatility

29.2%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
ROE	17.6%	17.5%	18.6%	18.5%	18.9%	18.7%	19.1%	18.1%	17.7%	17.3%	17.7%	17.1%	17.5%	16.3%	16.8%	16.8%	17.3%	17.4%	18.8%	16.9%	16.94%
ROA	10.9%	11.7%	12.5%	12.1%	12.2%	12.6%	13.1%	12.2%	12.0%	12.1%	12.8%	12.1%	12.5%	11.8%	12.4%	12.2%	12.7%	13.0%	14.3%	12.8%	12.83%
ROIC	34.3%	31.1%	38.4%	31.9%	32.6%	25.5%	29.3%	30.8%	34.8%	28.4%	30.0%	30.3%	30.1%	27.0%	30.9%	25.8%	22.9%	21.0%	22.0%	15.3%	15.27%
ROCE	20.5%	20.7%	22.2%	22.2%	22.5%	22.6%	23.4%	23.0%	22.6%	22.5%	22.9%	21.7%	22.0%	20.5%	21.2%	21.7%	21.2%	21.3%	22.6%	16.8%	16.75%
Gross Margin	48.6%	49.7%	47.5%	49.3%	50.7%	50.6%	47.1%	50.9%	51.4%	52.3%	48.9%	51.0%	55.1%	50.5%	49.9%	49.8%	53.4%	52.3%	50.1%	51.0%	51.05%
Operating Margin	25.8%	21.8%	21.6%	25.2%	27.4%	25.2%	20.5%	25.0%	27.4%	26.5%	21.8%	25.4%	30.0%	25.7%	23.1%	25.7%	28.7%	26.3%	23.1%	23.1%	23.06%
Net Margin	16.9%	14.7%	14.1%	16.6%	18.3%	16.3%	13.7%	15.8%	17.9%	17.5%	14.9%	16.2%	20.4%	15.2%	15.5%	17.1%	21.0%	20.2%	20.1%	20.2%	20.22%
EBITDA Margin	33.3%	30.3%	30.1%	33.3%	35.6%	33.7%	30.0%	33.8%	35.6%	35.5%	32.0%	33.1%	30.6%	32.5%	32.0%	33.6%	36.4%	36.9%	37.1%	30.8%	30.76%
FCF Margin	19.2%	19.0%	18.8%	18.8%	18.6%	20.2%	21.8%	21.6%	21.4%	19.5%	17.5%	17.4%	17.6%	19.2%	20.6%	21.7%	23.0%	22.8%	22.5%	22.8%	22.82%
OCF Margin	20.1%	20.7%	21.2%	21.9%	22.4%	23.5%	24.5%	23.4%	22.3%	19.9%	17.5%	17.4%	17.6%	19.7%	21.3%	22.6%	24.3%	23.9%	23.8%	24.2%	24.17%
ROE 3Y Avg	snapshot only																				15.67%
ROE 5Y Avg	snapshot only																				16.40%
ROA 3Y Avg	snapshot only																				11.62%
ROIC 3Y Avg	snapshot only																				14.68%
ROIC Economic	snapshot only																				12.29%
Cash ROA	snapshot only																				13.61%
Cash ROIC	snapshot only																				20.62%
CROIC	snapshot only																				19.47%
NOPAT Margin	snapshot only																				17.90%
Pretax Margin	snapshot only																				28.88%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				26.42%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
P/E Ratio	25.33	22.07	20.84	19.02	18.99	18.60	17.56	16.42	18.38	17.20	16.20	15.37	13.73	17.38	17.25	17.04	17.83	14.36	13.95	14.14	12.490
P/S Ratio	3.63	3.22	3.13	2.97	3.05	3.05	2.86	2.64	2.94	2.80	2.69	2.56	2.38	2.91	2.91	2.91	3.09	2.66	2.73	2.88	2.628
P/B Ratio	4.23	3.66	3.70	3.37	3.44	3.30	3.18	2.84	3.11	2.86	2.73	2.47	2.27	2.64	2.73	2.76	2.98	2.44	2.53	2.09	2.044
P/FCF	18.92	16.92	16.68	15.82	16.42	15.13	13.13	12.22	13.69	14.39	15.34	14.74	13.56	15.21	14.12	13.40	13.45	11.69	12.13	12.64	12.635
P/OCF	18.10	15.58	14.80	13.56	13.61	13.02	11.66	11.28	13.16	14.08	15.34	14.74	13.56	14.82	13.66	12.88	12.71	11.12	11.50	11.93	11.932
EV/EBITDA	10.66	9.31	8.70	8.16	8.20	8.39	7.61	6.74	7.38	7.11	6.59	6.10	5.84	7.65	7.52	7.87	8.35	6.99	6.90	7.58	7.576
EV/Revenue	3.21	2.83	2.69	2.60	2.66	2.79	2.53	2.25	2.46	2.40	2.26	2.08	1.91	2.45	2.41	2.53	2.81	2.43	2.48	2.67	2.674
EV/EBIT	14.88	12.92	11.94	11.09	11.09	11.22	10.24	9.10	9.96	9.59	8.86	8.19	7.30	9.61	9.43	9.85	11.11	9.20	8.95	9.84	9.844
EV/FCF	16.72	14.86	14.32	13.82	14.35	13.83	11.61	10.40	11.48	12.33	12.89	11.96	10.89	12.79	11.68	11.67	12.25	10.68	11.01	11.71	11.714
Earnings Yield	3.9%	4.5%	4.8%	5.3%	5.3%	5.4%	5.7%	6.1%	5.4%	5.8%	6.2%	6.5%	7.3%	5.8%	5.8%	5.9%	5.6%	7.0%	7.2%	7.1%	7.07%
FCF Yield	5.3%	5.9%	6.0%	6.3%	6.1%	6.6%	7.6%	8.2%	7.3%	6.9%	6.5%	6.8%	7.4%	6.6%	7.1%	7.5%	7.4%	8.6%	8.2%	7.9%	7.91%
PEG Ratio	snapshot only																				0.809
Price/Tangible Book	snapshot only																				2.126
EV/OCF	snapshot only																				11.062
EV/Gross Profit	snapshot only																				5.167
Acquirers Multiple	snapshot only																				10.553
Shareholder Yield	snapshot only																				4.95%
Graham Number	snapshot only																				$727.52

Leverage & Solvency

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Current Ratio	2.98	3.37	3.38	2.67	2.75	2.70	2.87	2.76	3.19	3.17	3.40	3.02	3.23	3.26	3.37	2.73	2.91	2.93	3.25	3.28	3.277
Quick Ratio	2.82	3.19	3.19	2.49	2.60	2.58	2.75	2.62	3.05	3.04	3.29	2.87	3.12	3.10	3.24	2.62	2.78	2.71	3.04	3.02	3.017
Debt/Equity	0.20	0.26	0.17	0.17	0.18	0.25	0.15	0.13	0.13	0.18	0.10	0.09	0.10	0.15	0.08	0.08	0.10	0.14	0.08	0.07	0.068
Net Debt/Equity	-0.49	-0.45	-0.52	-0.43	-0.43	-0.28	-0.37	-0.42	-0.50	-0.41	-0.44	-0.47	-0.45	-0.42	-0.47	-0.36	-0.26	-0.21	-0.23	-0.15	-0.152
Debt/Assets	0.13	0.18	0.11	0.11	0.12	0.17	0.10	0.09	0.09	0.13	0.08	0.07	0.07	0.11	0.06	0.06	0.07	0.11	0.06	0.05	0.053
Debt/EBITDA	0.56	0.76	0.46	0.47	0.49	0.68	0.40	0.37	0.37	0.53	0.29	0.28	0.32	0.51	0.26	0.28	0.31	0.44	0.23	0.27	0.268
Net Debt/EBITDA	-1.40	-1.29	-1.43	-1.18	-1.18	-0.79	-0.99	-1.18	-1.43	-1.19	-1.25	-1.42	-1.43	-1.45	-1.57	-1.17	-0.81	-0.66	-0.70	-0.60	-0.596
Interest Coverage	51.73	50.79	50.87	52.00	53.17	54.60	52.72	51.78	53.06	56.29	61.20	62.75	66.40	67.31	68.36	72.54	71.07	70.95	73.93	67.35	67.354
Equity Multiplier	1.57	1.49	1.48	1.54	1.54	1.47	1.43	1.44	1.44	1.39	1.35	1.39	1.37	1.37	1.35	1.37	1.36	1.33	1.28	1.28	1.285
Cash Ratio	snapshot only																				1.969
Debt Service Coverage	snapshot only																				87.521
Cash to Debt	snapshot only																				3.223
FCF to Debt	snapshot only																				2.413
Defensive Interval	snapshot only																				619.0 days

Efficiency & Turnover

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Asset Turnover	0.76	0.80	0.83	0.77	0.76	0.77	0.81	0.76	0.75	0.74	0.77	0.72	0.72	0.71	0.74	0.71	0.73	0.70	0.73	0.63	0.629
Inventory Turnover	11.18	11.92	11.10	9.27	11.75	13.76	14.01	10.83	12.87	15.78	18.36	12.55	14.86	12.85	17.51	14.57	18.15	11.62	15.44	14.13	14.130
Receivables Turnover	6.10	6.02	6.33	5.73	5.93	6.08	6.39	6.04	6.05	6.26	6.66	6.26	6.42	6.49	6.66	6.12	6.67	6.64	6.72	6.41	6.405
Payables Turnover	10.86	6.95	11.09	8.44	10.85	5.10	11.18	9.78	10.93	5.10	11.54	8.37	12.15	6.28	13.59	7.87	14.65	8.17	11.42	9.63	9.630
DSO	60	61	58	64	62	60	57	60	60	58	55	58	57	56	55	60	55	55	54	57	57.0 days
DIO	33	31	33	39	31	27	26	34	28	23	20	29	25	28	21	25	20	31	24	26	25.8 days
DPO	34	53	33	43	34	72	33	37	33	72	32	44	30	58	27	46	25	45	32	38	37.9 days
Cash Conversion Cycle	59	39	58	60	59	15	51	57	55	10	43	44	51	27	49	38	50	42	46	45	44.9 days
Fixed Asset Turnover	snapshot only																				3.140
Operating Cycle	snapshot only																				82.8 days
Cash Velocity	snapshot only																				3.280
Capital Intensity	snapshot only																				1.776

Growth (YoY)

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Revenue	9.9%	8.7%	9.4%	6.9%	5.8%	5.8%	5.0%	4.7%	3.2%	2.4%	1.3%	1.8%	1.4%	2.7%	4.0%	6.1%	8.2%	6.6%	6.7%	3.0%	3.04%
Net Income	18.1%	16.7%	19.6%	18.8%	18.4%	18.9%	13.7%	7.7%	2.8%	1.6%	3.1%	5.5%	10.0%	5.7%	5.9%	8.8%	8.1%	17.9%	23.9%	23.0%	23.00%
EPS	18.1%	16.7%	19.8%	19.7%	19.2%	19.5%	14.3%	7.7%	2.8%	1.8%	3.1%	5.5%	10.0%	5.7%	6.2%	9.9%	10.3%	20.8%	26.7%	25.3%	25.29%
FCF	28.4%	20.6%	13.7%	7.6%	2.2%	12.0%	21.8%	20.4%	19.4%	-1.2%	-18.6%	-18.2%	-17.0%	1.0%	22.4%	32.7%	41.5%	26.7%	16.7%	8.3%	8.26%
EBITDA	24.7%	13.7%	15.6%	14.3%	14.1%	15.8%	12.8%	9.7%	6.0%	4.0%	4.4%	4.0%	-0.5%	-2.6%	-2.7%	0.3%	11.4%	15.7%	19.9%	13.0%	12.96%
Op. Income	22.6%	20.3%	20.7%	18.3%	16.0%	18.0%	13.3%	8.7%	5.3%	2.4%	3.7%	4.9%	7.2%	6.5%	7.7%	9.6%	7.7%	7.4%	6.2%	-0.2%	-0.20%
OCF Growth	snapshot only																				10.17%
Asset Growth	snapshot only																				26.49%
Equity Growth	snapshot only																				34.81%
Debt Growth	snapshot only																				9.53%
Shares Change	snapshot only																				-1.83%
Dividend Growth	snapshot only																				36.96%

Growth (CAGR)

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Revenue 3Y	11.1%	5.1%	6.1%	5.2%	5.7%	7.0%	6.7%	6.7%	6.3%	5.6%	5.2%	4.4%	3.5%	3.6%	3.4%	4.2%	4.2%	3.9%	4.0%	3.6%	3.64%
Revenue 5Y	23.9%	23.6%	23.9%	23.4%	23.8%	24.2%	17.4%	12.5%	8.4%	4.7%	4.9%	4.4%	4.3%	5.2%	5.1%	5.6%	5.7%	5.2%	5.2%	4.5%	4.49%
EPS 3Y	17.7%	13.0%	15.6%	15.7%	17.5%	18.1%	16.5%	15.5%	13.1%	12.4%	12.2%	10.8%	10.5%	8.7%	7.8%	7.7%	7.6%	9.1%	11.5%	13.2%	13.23%
EPS 5Y	46.8%	46.1%	47.2%	48.9%	52.4%	54.6%	33.5%	23.0%	14.9%	11.9%	12.7%	11.9%	12.9%	12.1%	11.6%	12.3%	11.9%	12.6%	13.7%	13.3%	13.35%
Net Income 3Y	19.4%	12.4%	14.8%	14.8%	16.6%	17.6%	16.2%	15.3%	12.9%	12.1%	11.9%	10.5%	10.2%	8.5%	7.5%	7.3%	6.9%	8.2%	10.6%	12.2%	12.18%
Net Income 5Y	46.2%	45.6%	46.6%	48.1%	51.6%	53.9%	35.1%	24.5%	15.7%	11.4%	12.2%	11.4%	12.4%	11.8%	11.4%	11.9%	11.3%	11.9%	13.0%	12.6%	12.56%
EBITDA 3Y	30.5%	25.4%	27.6%	27.0%	28.9%	29.9%	24.0%	19.8%	14.7%	11.0%	10.8%	9.2%	6.4%	5.4%	4.6%	4.6%	5.5%	5.4%	6.8%	5.6%	5.62%
EBITDA 5Y	37.0%	36.7%	37.5%	38.5%	40.5%	41.9%	34.0%	28.1%	21.9%	18.9%	19.6%	18.5%	17.7%	17.3%	14.1%	12.4%	10.8%	9.1%	9.7%	8.1%	8.12%
Gross Profit 3Y	14.5%	9.7%	10.7%	10.8%	11.4%	11.7%	11.3%	11.4%	10.4%	9.6%	9.2%	8.2%	7.6%	6.8%	6.3%	6.0%	5.3%	5.1%	5.3%	4.9%	4.93%
Gross Profit 5Y	26.4%	26.9%	27.5%	28.1%	29.2%	29.5%	22.0%	16.7%	12.2%	9.0%	9.1%	8.7%	8.8%	8.7%	8.7%	9.0%	8.5%	8.0%	7.9%	7.1%	7.07%
Op. Income 3Y	20.7%	13.9%	16.0%	15.7%	16.8%	18.2%	16.8%	16.6%	14.4%	13.3%	12.4%	10.5%	9.4%	8.7%	8.2%	7.7%	6.7%	5.4%	5.9%	4.7%	4.68%
Op. Income 5Y	41.4%	41.6%	42.5%	44.1%	47.1%	49.2%	33.1%	24.1%	16.5%	12.3%	12.9%	12.0%	12.5%	12.5%	12.2%	12.7%	11.6%	10.7%	10.2%	8.1%	8.09%
FCF 3Y	19.9%	9.1%	8.0%	6.9%	5.9%	10.3%	14.5%	15.3%	16.2%	10.1%	4.1%	2.0%	0.4%	3.8%	6.7%	9.3%	11.9%	8.2%	5.2%	5.5%	5.53%
FCF 5Y	27.3%	26.6%	33.3%	34.5%	36.0%	43.2%	29.7%	19.7%	16.0%	7.6%	4.5%	3.8%	3.3%	6.0%	8.4%	10.7%	13.0%	11.3%	10.0%	8.8%	8.78%
OCF 3Y	16.4%	7.4%	7.5%	7.6%	7.7%	10.6%	13.4%	12.5%	11.6%	6.3%	0.8%	-0.3%	-1.0%	1.9%	3.7%	5.3%	7.1%	4.6%	2.9%	4.7%	4.73%
OCF 5Y	26.9%	27.5%	34.6%	37.6%	40.1%	45.5%	30.1%	19.0%	13.9%	5.2%	1.8%	1.0%	0.5%	3.6%	6.0%	8.2%	10.7%	9.6%	9.1%	8.5%	8.53%
Assets 3Y	5.6%	2.2%	3.0%	4.3%	4.5%	6.0%	6.8%	5.9%	4.4%	7.9%	7.3%	7.6%	5.9%	8.4%	8.3%	6.4%	5.3%	6.0%	6.7%	13.7%	13.72%
Assets 5Y	31.0%	30.9%	31.6%	32.6%	30.8%	31.5%	10.5%	9.6%	5.3%	3.7%	4.3%	5.1%	4.8%	6.7%	7.4%	6.6%	5.3%	7.8%	7.5%	10.9%	10.90%
Equity 3Y	9.7%	8.1%	7.5%	7.6%	8.2%	11.0%	10.5%	10.3%	10.3%	10.5%	10.7%	11.1%	10.6%	11.6%	11.7%	10.6%	9.8%	9.7%	10.6%	18.3%	18.25%
Book Value 3Y	8.2%	8.7%	8.1%	8.4%	9.0%	11.5%	10.8%	10.6%	10.6%	10.8%	10.9%	11.3%	10.9%	11.9%	12.0%	11.0%	10.5%	10.7%	11.6%	19.4%	19.36%
Dividend 3Y	4.3%	4.9%	3.7%	2.6%	1.4%	2.8%	4.3%	-4.3%	-14.7%	-33.6%	—	—	—	12.8%	—	—	—	66.3%	28.5%	11.4%	11.40%

Growth Quality

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Revenue Stability	0.92	0.83	0.85	0.84	0.86	0.88	0.91	0.95	0.97	0.97	0.96	0.98	0.97	0.96	0.95	0.97	0.96	0.97	0.97	0.99	0.985
Earnings Stability	0.93	0.88	0.94	0.96	0.93	0.87	0.93	0.95	0.98	0.96	0.98	0.97	0.98	0.95	0.96	0.97	0.97	0.95	0.93	0.93	0.928
Margin Stability	0.96	0.94	0.94	0.93	0.92	0.92	0.93	0.92	0.93	0.92	0.92	0.92	0.92	0.93	0.93	0.94	0.94	0.95	0.95	0.95	0.952
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.93	0.93	0.92	0.92	0.93	0.92	0.95	0.97	0.99	0.99	0.99	0.98	0.96	0.98	0.98	0.96	0.97	0.93	0.90	0.91	0.908
Earnings Smoothness	0.83	0.85	0.82	0.83	0.83	0.83	0.87	0.93	0.97	0.98	0.97	0.95	0.90	0.94	0.94	0.92	0.92	0.84	0.79	0.79	0.794
ROE Trend	0.02	0.01	0.02	0.02	0.02	0.02	0.01	0.00	-0.00	-0.01	-0.01	-0.01	-0.01	-0.02	-0.02	-0.01	-0.00	0.01	0.02	-0.01	-0.014
Gross Margin Trend	0.03	0.03	0.03	0.04	0.04	0.04	0.03	0.03	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	-0.00	0.00	0.00	0.01	0.006
FCF Margin Trend	0.02	0.01	0.01	0.01	0.01	0.02	0.03	0.03	0.03	-0.00	-0.03	-0.03	-0.02	-0.01	0.01	0.02	0.03	0.03	0.03	0.03	0.033
Sustainable Growth Rate	11.3%	11.3%	12.3%	12.5%	13.0%	12.7%	12.7%	13.4%	14.4%	15.7%	17.7%	17.1%	17.5%	14.3%	12.4%	10.4%	8.9%	9.3%	10.7%	9.8%	9.84%
Internal Growth Rate	7.4%	8.2%	9.1%	8.9%	9.2%	9.4%	9.6%	9.9%	10.8%	12.3%	14.6%	13.7%	14.3%	11.6%	10.1%	8.1%	7.0%	7.4%	8.8%	8.1%	8.05%

Cash Flow Quality

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
OCF/Net Income	1.40	1.42	1.41	1.40	1.39	1.43	1.51	1.46	1.40	1.22	1.06	1.04	1.01	1.17	1.26	1.32	1.40	1.29	1.21	1.18	1.185
FCF/OCF	0.96	0.92	0.89	0.86	0.83	0.86	0.89	0.92	0.96	0.98	1.00	1.00	1.00	0.97	0.97	0.96	0.94	0.95	0.95	0.94	0.944
FCF/Net Income	snapshot only																				1.119
OCF/EBITDA	snapshot only																				0.685
CapEx/Revenue	0.9%	1.6%	2.4%	3.1%	3.8%	3.3%	2.7%	1.8%	0.9%	0.4%	0.0%	0.0%	0.0%	0.5%	0.7%	0.9%	1.3%	1.2%	1.2%	1.3%	1.34%
CapEx/Depreciation	snapshot only																				0.165
Accruals Ratio	-0.04	-0.05	-0.05	-0.05	-0.05	-0.05	-0.07	-0.06	-0.05	-0.03	-0.01	-0.01	-0.00	-0.02	-0.03	-0.04	-0.05	-0.04	-0.03	-0.02	-0.024
Sloan Accruals	snapshot only																				-0.104
Cash Flow Adequacy	snapshot only																				2.443
Earnings Quality Score	snapshot only																				1.000

Dividends & Buybacks

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Dividend Yield	1.4%	1.6%	1.6%	1.7%	1.6%	1.7%	1.9%	1.6%	1.0%	0.5%	0.0%	0.0%	0.0%	0.7%	1.5%	2.2%	2.7%	3.2%	3.1%	3.0%	3.68%
Dividend/Share	$11.97	$12.03	$12.10	$12.22	$12.27	$12.95	$13.69	$10.62	$7.55	$3.78	$0.00	$0.00	$0.00	$5.37	$11.65	$18.03	$23.71	$24.66	$24.66	$24.69	$30.00
Payout Ratio	36.2%	35.3%	33.7%	32.4%	31.2%	31.8%	33.4%	26.2%	18.6%	9.1%	0.0%	0.0%	0.0%	12.3%	25.9%	38.3%	48.3%	46.6%	43.3%	41.9%	41.91%
FCF Payout Ratio	27.1%	27.0%	27.0%	27.0%	26.9%	25.9%	25.0%	19.5%	13.9%	7.6%	0.0%	0.0%	0.0%	10.7%	21.2%	30.2%	36.4%	37.9%	37.7%	37.4%	37.45%
Total Payout Ratio	36.2%	35.3%	33.7%	32.4%	31.2%	35.5%	40.9%	33.8%	26.3%	12.8%	0.0%	0.0%	0.0%	12.3%	34.9%	55.5%	64.8%	72.4%	69.9%	70.0%	69.99%
Div. Increase Streak	1	1	1	1	1	1	1	0	0	0	—	—	—	0	0	0	0	1	1	1	0
Chowder Number	0.20	0.15	0.11	0.07	0.03	0.09	0.14	-0.11	-0.37	-0.70	—	—	—	0.43	—	—	—	3.51	1.10	0.37	0.374
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.4%	0.5%	0.4%	0.2%	0.0%	0.0%	0.0%	0.0%	0.5%	1.0%	0.9%	1.8%	1.9%	2.0%	1.99%
Net Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.4%	0.5%	0.4%	0.2%	0.0%	0.0%	0.0%	0.0%	0.5%	1.0%	0.9%	1.8%	1.9%	2.0%	1.99%
Total Shareholder Return	1.4%	1.6%	1.6%	1.7%	1.6%	1.9%	2.3%	2.1%	1.4%	0.7%	0.0%	0.0%	0.0%	0.7%	2.0%	3.3%	3.6%	5.0%	5.0%	4.9%	4.95%

DuPont Factors

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Tax Burden (NI/EBT)	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.66	0.66	0.66	0.66	0.67	0.67	0.67	0.67	0.67	0.69	0.70	0.71	0.706
Interest Burden (EBT/EBIT)	0.98	0.98	0.98	0.98	0.98	0.97	0.97	0.96	0.98	0.98	0.99	1.00	0.98	0.99	0.99	0.99	1.01	1.01	1.01	1.06	1.063
EBIT Margin	0.22	0.22	0.23	0.23	0.24	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.26	0.25	0.26	0.26	0.25	0.26	0.28	0.27	0.272
Asset Turnover	0.76	0.80	0.83	0.77	0.76	0.77	0.81	0.76	0.75	0.74	0.77	0.72	0.72	0.71	0.74	0.71	0.73	0.70	0.73	0.63	0.629
Equity Multiplier	1.63	1.49	1.48	1.53	1.55	1.48	1.45	1.49	1.48	1.43	1.39	1.42	1.40	1.38	1.35	1.38	1.36	1.35	1.32	1.32	1.321

Per Share

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
EPS (Diluted TTM)	$33.04	$34.12	$35.88	$37.68	$39.38	$40.75	$41.01	$40.59	$40.49	$41.48	$42.28	$42.80	$44.55	$43.84	$44.91	$47.02	$49.13	$52.96	$56.91	$58.92	$58.92
Book Value/Share	$197.64	$205.91	$202.30	$212.65	$217.58	$229.36	$226.41	$234.81	$238.91	$249.67	$251.18	$266.24	$269.64	$288.59	$283.99	$290.76	$293.60	$311.25	$314.50	$399.28	$399.35
Tangible Book/Share	$196.30	$204.67	$198.90	$208.90	$214.02	$226.06	$223.29	$231.69	$236.01	$247.01	$247.08	$262.44	$265.93	$285.12	$280.68	$287.40	$289.84	$307.36	$310.05	$391.76	$391.76
Revenue/Share	$230.37	$233.56	$238.65	$241.01	$245.50	$248.20	$251.85	$252.32	$253.40	$254.77	$255.01	$256.82	$256.92	$261.69	$266.21	$275.20	$283.77	$285.84	$290.44	$288.85	$310.11
FCF/Share	$44.24	$44.48	$44.82	$45.29	$45.54	$50.08	$54.85	$54.56	$54.35	$49.59	$44.64	$44.64	$45.12	$50.11	$54.85	$59.78	$65.15	$65.08	$65.46	$65.93	$0.00
OCF/Share	$46.23	$48.31	$50.49	$52.84	$54.93	$58.21	$61.74	$59.10	$56.55	$50.69	$44.64	$44.64	$45.12	$51.43	$56.72	$62.21	$68.94	$68.38	$69.05	$69.81	$0.00
Cash/Share	$136.16	$145.64	$139.71	$126.85	$133.20	$121.77	$116.57	$130.56	$151.89	$148.00	$135.14	$148.99	$147.29	$164.04	$155.53	$128.18	$106.99	$109.51	$97.33	$88.06	$88.06
EBITDA/Share	$69.36	$70.97	$73.80	$76.71	$79.71	$82.59	$83.65	$84.12	$84.50	$86.06	$87.31	$87.47	$84.10	$83.79	$85.26	$88.59	$95.65	$99.36	$104.49	$101.94	$101.94
Debt/Share	$38.78	$53.89	$34.05	$35.96	$39.15	$56.50	$33.53	$31.45	$31.48	$46.01	$25.72	$24.73	$26.92	$42.62	$21.85	$24.49	$29.31	$43.79	$23.84	$27.32	$27.32
Net Debt/Share	$-97.38	$-91.75	$-105.66	$-90.89	$-94.06	$-65.26	$-83.04	$-99.11	$-120.41	$-101.98	$-109.42	$-124.26	$-120.37	$-121.43	$-133.67	$-103.69	$-77.69	$-65.72	$-73.49	$-60.74	$-60.74

Academic Models

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	6.419
Altman Z-Prime	snapshot only																				11.691
Piotroski F-Score	9	8	8	7	8	8	7	9	9	9	8	8	8	6	6	7	6	8	7	8	8
Beneish M-Score	-2.63	-2.75	-2.67	-1.97	-1.87	-0.88	-1.32	-2.59	-2.73	-2.74	-2.56	-2.40	-2.27	-2.33	-2.39	-2.30	-2.28	-2.33	-2.34	-2.37	-2.372
Ohlson O-Score	snapshot only																				-11.371
ROIC (Greenblatt)	snapshot only																				40.48%
Net-Net WC	snapshot only																				$32.90
EVA	snapshot only																				$735650494.47

Credit

Metric	Q3'20	Q4'20	Q1'21	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q1'26	Current
Credit Rating	snapshot only																				AAA
Credit Score	97.54	96.66	97.47	97.41	97.49	96.95	97.56	97.75	97.57	97.39	97.71	97.69	97.45	97.37	97.46	97.33	97.64	97.36	97.11	97.08	97.085
Credit Grade	snapshot only																				1
Credit Trend	snapshot only																				-0.245
Implied Spread (bps)	snapshot only																				50.000
Industry Credit Rank	snapshot only																				97
Sector Credit Rank	snapshot only																				92

4345.T JPX

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

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