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Ecomic

SPSE:3802
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3802
SPSE
¥1B
Market Cap
  1. Home
  2. JP
  3. Commercial Services
Company description

Ecomic Co., Ltd provides payroll business process outsourcing services primarily in Japan. The last earnings update was 7 days ago. More info.


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3802 Share Price and Events
7 Day Returns
2.1%
SPSE:3802
-2%
JP Professional Services
-2.7%
JP Market
1 Year Returns
15.6%
SPSE:3802
31.8%
JP Professional Services
4.3%
JP Market
3802 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ecomic (3802) 2.1% 6.6% 10.6% 15.6% 19.4% 178.9%
JP Professional Services -2% 1.6% 7.7% 31.8% 106.2% 209.3%
JP Market -2.7% -4% -0.9% 4.3% 8.9% 14.7%
1 Year Return vs Industry and Market
  • 3802 underperformed the Professional Services industry which returned 31.8% over the past year.
  • 3802 outperformed the Market in Japan which returned 4.3% over the past year.
Price Volatility
3802
Industry
5yr Volatility vs Market

Value

 Is Ecomic undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ecomic to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ecomic.

SPSE:3802 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 5.6%
Perpetual Growth Rate 10-Year JP Government Bond Rate -0.1%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SPSE:3802
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.838 (1 + (1- 30.86%) (0%))
0.891
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (0.891 * 6.33%)
5.55%

Discounted Cash Flow Calculation for SPSE:3802 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ecomic is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SPSE:3802 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 5.55%)
2020 57.61 Est @ 5.85% 54.58
2021 59.95 Est @ 4.07% 53.81
2022 61.64 Est @ 2.82% 52.42
2023 62.84 Est @ 1.95% 50.63
2024 63.68 Est @ 1.34% 48.61
2025 64.26 Est @ 0.91% 46.47
2026 64.65 Est @ 0.61% 44.29
2027 64.91 Est @ 0.4% 42.13
2028 65.07 Est @ 0.25% 40.01
2029 65.17 Est @ 0.15% 37.97
Present value of next 10 years cash flows ¥470.00
SPSE:3802 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥65.17 × (1 + -0.09%) ÷ (5.55% – -0.09%)
¥1,154.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥1,154.10 ÷ (1 + 5.55%)10
¥672.35
SPSE:3802 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥470.00 + ¥672.35
¥1,142.35
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥1,142.35 / 1.61
¥711.48
SPSE:3802 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥711.48
Current discount Discount to share price of ¥919.00
= -1 x (¥919.00 - ¥711.48) / ¥711.48
-29.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Ecomic is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ecomic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ecomic's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SPSE:3802 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥67.89
SPSE:3802 Share Price ** SPSE (2020-02-20) in JPY ¥919
Japan Professional Services Industry PE Ratio Median Figure of 81 Publicly-Listed Professional Services Companies 19.55x
Japan Market PE Ratio Median Figure of 3,059 Publicly-Listed Companies 15.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ecomic.

SPSE:3802 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SPSE:3802 Share Price ÷ EPS (both in JPY)

= 919 ÷ 67.89

13.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ecomic is good value based on earnings compared to the JP Professional Services industry average.
  • Ecomic is good value based on earnings compared to the Japan market.
Price based on expected Growth
Does Ecomic's expected growth come at a high price?
Raw Data
SPSE:3802 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Japan Professional Services Industry PEG Ratio Median Figure of 40 Publicly-Listed Professional Services Companies 1.72x
Japan Market PEG Ratio Median Figure of 1,270 Publicly-Listed Companies 1.71x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Ecomic, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ecomic's assets?
Raw Data
SPSE:3802 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥426.01
SPSE:3802 Share Price * SPSE (2020-02-20) in JPY ¥919
Japan Professional Services Industry PB Ratio Median Figure of 88 Publicly-Listed Professional Services Companies 2.89x
Japan Market PB Ratio Median Figure of 3,556 Publicly-Listed Companies 1.08x
SPSE:3802 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SPSE:3802 Share Price ÷ Book Value per Share (both in JPY)

= 919 ÷ 426.01

2.16x

* Primary Listing of Ecomic.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ecomic is good value based on assets compared to the JP Professional Services industry average.
X
Value checks
We assess Ecomic's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Professional Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Professional Services industry average (and greater than 0)? (1 check)
  5. Ecomic has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Ecomic expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ecomic has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
15.3%
Expected Professional Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ecomic expected to grow at an attractive rate?
  • Unable to compare Ecomic's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Ecomic's earnings growth to the Japan market average as no estimate data is available.
  • Unable to compare Ecomic's revenue growth to the Japan market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SPSE:3802 Future Growth Rates Data Sources
Data Point Source Value (per year)
Japan Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 15.3%
Japan Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 8.4%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.8%
Japan Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SPSE:3802 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SPSE:3802 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SPSE:3802 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 1,232 109
2019-09-30 1,117 102 76
2019-06-30 1,086 78
2019-03-31 1,076 161 76
2018-12-31 1,082 98
2018-09-30 989 111 68
2018-06-30 982 63
2018-03-31 970 16 55
2017-12-31 902 4
2017-09-30 957 53 42
2017-06-30 942 43
2017-03-31 969 137 70

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Ecomic is high growth as no earnings estimate data is available.
  • Unable to determine if Ecomic is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SPSE:3802 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Ecomic Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SPSE:3802 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SPSE:3802 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 67.89
2019-09-30 47.34
2019-06-30 48.60
2019-03-31 47.36
2018-12-31 61.10
2018-09-30 42.42
2018-06-30 39.31
2018-03-31 34.33
2017-12-31 2.50
2017-09-30 26.28
2017-06-30 26.95
2017-03-31 43.94

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ecomic will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Ecomic is trading at Ecomic'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Ecomic's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Commercial Services companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Ecomic's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Japan market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Japan market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ecomic has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Ecomic performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ecomic's growth in the last year to its industry (Professional Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ecomic has delivered over 20% year on year earnings growth in the past 5 years.
  • Ecomic's 1-year earnings growth is less than its 5-year average (11.2% vs 21.4%)
  • Ecomic's earnings growth has not exceeded the JP Professional Services industry average in the past year (11.2% vs 13.8%).
Earnings and Revenue History
Ecomic's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ecomic Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SPSE:3802 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,232.00 109.00 259.00
2019-09-30 1,117.00 76.00 256.00
2019-06-30 1,086.00 78.00 252.00
2019-03-31 1,076.00 76.00 251.00
2018-12-31 1,082.00 98.00 235.00
2018-09-30 989.00 68.00 232.00
2018-06-30 982.00 63.00 228.00
2018-03-31 970.00 55.00 217.00
2017-12-31 902.00 4.00 216.00
2017-09-30 957.00 42.00 206.00
2017-06-30 942.00 43.00 194.00
2017-03-31 969.00 70.00 184.00
2016-12-31 1,001.00 90.00 177.00
2016-09-30 971.00 69.00 175.00
2016-06-30 952.00 65.00 178.00
2016-03-31 898.00 44.00 176.00
2015-12-31 858.00 31.00 175.00
2015-09-30 825.00 22.00 174.00
2015-06-30 805.00 26.00 162.00
2015-03-31 778.00 21.00 162.00
2014-12-31 754.00 33.00 155.00
2014-09-30 688.00 4.00 152.00
2014-06-30 664.00 -2.00 158.00
2014-03-31 634.00 -1.00 159.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ecomic has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ecomic used its assets more efficiently than the JP Professional Services industry average last year based on Return on Assets.
  • Ecomic's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ecomic's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Professional Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ecomic has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Ecomic's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ecomic's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ecomic is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ecomic has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ecomic's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Ecomic has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ecomic Company Filings, last reported 1 month ago.

SPSE:3802 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 684.00 0.00 252.00
2019-09-30 598.00 0.00 411.00
2019-06-30 615.00 0.00 409.00
2019-03-31 627.00 0.00 458.00
2018-12-31 592.00 0.00 219.00
2018-09-30 546.00 0.00 381.00
2018-06-30 556.00 0.00 347.00
2018-03-31 567.00 0.00 346.00
2017-12-31 514.00 0.00 152.00
2017-09-30 494.00 0.00 319.00
2017-06-30 509.00 0.00 308.00
2017-03-31 521.00 0.00 385.00
2016-12-31 516.00 0.00 137.00
2016-09-30 455.00 0.00 312.00
2016-06-30 467.00 0.00 272.00
2016-03-31 455.00 0.00 285.00
2015-12-31 432.00 50.00 96.00
2015-09-30 396.00 0.00 209.00
2015-06-30 414.00 0.00 214.00
2015-03-31 421.00 0.00 322.00
2014-12-31 410.00 0.00 129.00
2014-09-30 382.00 0.00 299.00
2014-06-30 393.00 0.00 277.00
2014-03-31 404.00 0.00 329.00
  • Ecomic has no debt.
  • Ecomic currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • Ecomic has no debt, it does not need to be covered by operating cash flow.
  • Ecomic has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Ecomic's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ecomic has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Ecomic's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.87%
Current annual income from Ecomic dividends.
If you bought ¥2,000 of Ecomic shares you are expected to receive ¥17 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Ecomic's pays a lower dividend yield than the bottom 25% of dividend payers in Japan (1.39%).
  • Ecomic's dividend is below the markets top 25% of dividend payers in Japan (3.1%).
Upcoming dividend payment

Purchase Ecomic before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SPSE:3802 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Japan Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 1%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2974 Stocks 2.4%
Japan Minimum Threshold Dividend Yield 10th Percentile 0.8%
Japan Bottom 25% Dividend Yield 25th Percentile 1.4%
Japan Top 25% Dividend Yield 75th Percentile 3.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SPSE:3802 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
SPSE:3802 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-27 8.000 0.943
2019-05-13 8.000 0.987
2018-11-06 8.000 1.054
2018-05-11 8.000 0.942
2018-02-13 8.000 0.927
2018-02-09 8.000 0.948
2017-11-13 8.000 0.836
2017-11-08 8.000 0.826
2017-06-26 8.000 0.987
2017-05-11 8.000 1.006
2016-06-27 6.000 1.034
2016-05-12 6.000 1.386
2015-06-26 6.000 1.375
2015-05-08 6.000 1.610
2014-06-27 5.000 1.583
2014-05-12 5.000 1.504
2012-05-01 5.000 1.788
2012-01-30 5.000 1.971
2011-10-28 5.000 2.107
2011-08-11 5.000 2.041
2011-08-01 5.000 1.824
2011-06-24 5.000 1.845
2011-05-10 5.000 2.256
2011-01-28 5.000 2.164
2010-10-29 5.000 2.689
2010-07-01 5.000 2.409
2010-01-29 5.000 1.996
2009-08-11 5.000 1.985
2009-07-29 5.000 2.027
2009-06-29 5.000 2.025
2009-04-30 5.000 2.256

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Ecomic's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (8.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Ecomic's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ecomic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ecomic has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Ecomic's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Koji Kumagai
AGE 48
TENURE AS CEO 15.7 years
CEO Bio

Mr. Koji Kumagai has been the President of Ecomic Co. Ltd since June 2004. Mr. Kumagai served as Director of Mamezou OS Holdings Company Limited since April 2009 and served as its Manager of Group Business Planning. He served as Manager of Administrative Department Ecomic Co., Ltd since February 2004. He has been a Representative Director of Ecomic Co., Ltd since June 2004 and served as its Director since February 2004.

CEO Compensation
  • Insufficient data for Koji to compare compensation growth.
  • Insufficient data for Koji to establish whether their remuneration is reasonable compared to companies of similar size in Japan.
Management Team Tenure

Average tenure and age of the Ecomic management team in years:

6.8
Average Tenure
48
Average Age
  • The average tenure for the Ecomic management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Koji Kumagai

TITLE
President & Representative Director
AGE
48
TENURE
15.7 yrs

Tsutomu Aratani

TITLE
Manager of Administrative Department & Director
AGE
45
TENURE
6.8 yrs

Kimihiko Ikegaki

TITLE
Manager of Sales Department & Director
AGE
57
TENURE
5.7 yrs

Tsutomu Araya

TITLE
Controller
Board of Directors Tenure

Average tenure and age of the Ecomic board of directors in years:

13.9
Average Tenure
60
Average Age
  • The average tenure for the Ecomic board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Koji Kumagai

TITLE
President & Representative Director
AGE
48
TENURE
16 yrs

Tsutomu Aratani

TITLE
Manager of Administrative Department & Director
AGE
45
TENURE
6.8 yrs

Kimihiko Ikegaki

TITLE
Manager of Sales Department & Director
AGE
57
TENURE
5.7 yrs

Takatoshi Shintani

TITLE
AGE
63
TENURE
16.8 yrs

Yutaka Suzuki

TITLE
Standing Corporate Auditor
AGE
67
TENURE
15.2 yrs

Tadakazu Kobayashi

TITLE
External Auditor
AGE
73
TENURE
12.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (¥) Value (¥)
X
Management checks
We assess Ecomic's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ecomic has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Ecomic Co., Ltd provides payroll business process outsourcing services primarily in Japan. It also offers year-end adjustments outsourcing services; inhabitant tax collection amount renewal outsourcing services; collection agency services; time and personnel systems; and other services. The company was founded in 1997 and is headquartered in Sapporo, Japan. Ecomic Co., Ltd is a subsidiary of CAREER BANK Co., Ltd.

Details
Name: Ecomic Co., Ltd
3802
Exchange: SPSE
Founded: 1997
¥1,475,546,400
1,605,600
Website: http://www.ecomic.jp
Address: Ecomic Co., Ltd
Asahi Life Sapporo Odori Building,
8-1-1, Odorinishi,
Sapporo,
Hokkaido, 060-0042,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SPSE 3802 Common Stock Sapporo Stock Exchange JP JPY 04. Apr 2006
Number of employees
Current staff
Staff numbers
67
Ecomic employees.
Industry
Human Resource and Employment Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/20 15:31
End of day share price update: 2020/02/20 00:00
Last estimates confirmation: 2019/05/13
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.