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GMO Media Inc. provides Internet and related advertising services to in Asia and internationally. The last earnings update was 23 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
GMO Media (6180) | -0.1% | 0.9% | -0.1% | -22.3% | -52.6% | - |
JP Interactive Media and Services | 0.2% | 13.3% | 21.8% | 12.6% | 6.3% | -6.7% |
JP Market | -0.4% | 2.4% | 10.8% | 4.3% | 16.2% | 24.8% |
Is GMO Media undervalued based on future cash flows and its price relative to the stock market?
Below are the data sources, inputs and calculation used to determine the intrinsic value for GMO Media.
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 | 6.4% |
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.
Data Point | Calculation/ Source | Result |
---|---|---|
Risk-Free Rate | 10-Year JP Govt Bond Rate | -0.1% |
Equity Risk Premium | S&P Global | 6.3% |
Interactive Media and Services Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.038 (1 + (1- 30.86%) (0%)) |
1.025 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.03 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.025 * 6.33%) |
6.4% |
Discounted Cash Flow Calculation for TSE:6180 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for GMO Media 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.
Levered FCF (JPY, Millions) | Source |
Present Value Discounted (@ 6.4%) |
|
---|---|---|---|
2020 | 305.03 | Est @ 6.07% | 286.68 |
2021 | 317.90 | Est @ 4.22% | 280.80 |
2022 | 327.20 | Est @ 2.93% | 271.63 |
2023 | 333.82 | Est @ 2.02% | 260.45 |
2024 | 338.45 | Est @ 1.39% | 248.19 |
2025 | 341.65 | Est @ 0.94% | 235.46 |
2026 | 343.81 | Est @ 0.63% | 222.70 |
2027 | 345.25 | Est @ 0.42% | 210.18 |
2028 | 346.16 | Est @ 0.26% | 198.06 |
2029 | 346.71 | Est @ 0.16% | 186.44 |
Present value of next 10 years cash flows | ¥2,400.00 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= ¥346.71 × (1 + -0.09%) ÷ (6.4% – -0.09%) |
¥5,337.04 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= ¥5,337.04 ÷ (1 + 6.4%)10 |
¥2,869.89 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= ¥2,400.00 + ¥2,869.89 |
¥5,269.89 |
Equity Value per Share (JPY) |
= Total value / Shares Outstanding
= ¥5,269.89 / 1.87 |
¥2819.88 |
Calculation | Result | |
---|---|---|
Value per share (JPY) | From above. | ¥2,819.88 |
Current discount | Discount to share price of
¥1,490.00
= -1 x (¥1,490.00 - ¥2,819.88) / ¥2,819.88 |
47.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2019-09-30) in JPY | ¥-18.39 |
TSE:6180 Share Price ** | TSE (2019-12-04) in JPY | ¥1490 |
Japan Interactive Media and Services Industry PE Ratio | Median Figure of 43 Publicly-Listed Interactive Media and Services Companies | 36.63x |
Japan Market PE Ratio | Median Figure of 3,068 Publicly-Listed Companies | 15.45x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of GMO Media.
Calculation | Outcome | |
---|---|---|
PE Ratio | = TSE:6180 Share Price ÷ EPS (both in JPY) = 1490 ÷ -18.39 |
-81.02x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | -81.02x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
Not available |
Japan Interactive Media and Services Industry PEG Ratio | Median Figure of 24 Publicly-Listed Interactive Media and Services Companies | 1.98x |
Japan Market PEG Ratio | Median Figure of 1,368 Publicly-Listed Companies | 1.88x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2019-09-30) in JPY | ¥1,337.45 |
TSE:6180 Share Price * | TSE (2019-12-04) in JPY | ¥1490 |
Japan Interactive Media and Services Industry PB Ratio | Median Figure of 50 Publicly-Listed Interactive Media and Services Companies | 4.52x |
Japan Market PB Ratio | Median Figure of 3,527 Publicly-Listed Companies | 1.12x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = TSE:6180 Share Price ÷ Book Value per Share (both in JPY) = 1490 ÷ 1,337.45 |
1.11x |
* Primary Listing of GMO Media.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
How is GMO Media 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 GMO Media 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.
Data Point | Source | Value (per year) |
---|---|---|
Japan Interactive Media and Services Industry Earnings Growth Rate | Market Cap Weighted Average | 27.9% |
Japan Interactive Media and Services Industry Revenue Growth Rate | Market Cap Weighted Average | 8.7% |
Japan Market Earnings Growth Rate | Market Cap Weighted Average | 9.4% |
Japan Market Revenue Growth Rate | Market Cap Weighted Average | 3.6% |
*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.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (2 months ago) | See Below |
Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
Date (Data in JPY Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
---|
Date (Data in JPY Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2019-09-30 | 4,198 | -32 | |
2019-06-30 | 4,139 | 343 | 102 |
2019-03-31 | 4,273 | 137 | |
2018-12-31 | 4,533 | 380 | 197 |
2018-09-30 | 4,653 | 220 | |
2018-06-30 | 4,747 | 399 | 243 |
2018-03-31 | 4,524 | 255 | |
2017-12-31 | 4,377 | 328 | 252 |
2017-09-30 | 4,514 | 250 | |
2017-06-30 | 4,841 | 560 | 268 |
2017-03-31 | 5,158 | 290 | |
2016-12-31 | 5,304 | 554 | 319 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (2 months ago) | See Below |
Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from GMO Media Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in JPY Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
---|
Date (Data in JPY Millions) | EPS * |
---|---|
2019-09-30 | -18.39 |
2019-06-30 | 58.63 |
2019-03-31 | 78.76 |
2018-12-31 | 113.29 |
2018-09-30 | 126.57 |
2018-06-30 | 139.87 |
2018-03-31 | 146.84 |
2017-12-31 | 145.15 |
2017-09-30 | 144.02 |
2017-06-30 | 154.41 |
2017-03-31 | 167.10 |
2016-12-31 | 183.81 |
*GAAP earnings excluding extraordinary items.
How has GMO Media performed over the past 5 years?
All data from GMO Media Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in JPY Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2019-09-30 | 4,198.00 | -32.00 | 1,020.00 | |
2019-06-30 | 4,139.00 | 102.00 | 1,017.00 | |
2019-03-31 | 4,273.00 | 137.00 | 1,017.00 | |
2018-12-31 | 4,533.00 | 197.00 | 1,031.00 | |
2018-09-30 | 4,653.00 | 220.00 | 1,047.00 | |
2018-06-30 | 4,747.00 | 243.00 | 1,053.00 | |
2018-03-31 | 4,524.00 | 255.00 | 1,037.00 | |
2017-12-31 | 4,377.00 | 252.00 | 1,040.00 | |
2017-09-30 | 4,514.00 | 250.00 | 1,127.00 | |
2017-06-30 | 4,841.00 | 268.00 | 1,212.00 | |
2017-03-31 | 5,158.00 | 290.00 | 1,301.00 | |
2016-12-31 | 5,304.00 | 319.00 | 1,349.00 | |
2016-09-30 | 5,175.00 | 266.00 | 1,376.00 | |
2016-06-30 | 4,727.00 | 247.00 | 1,305.00 | |
2016-03-31 | 4,350.00 | 261.50 | 1,209.50 | |
2015-12-31 | 3,855.00 | 205.00 | 1,131.00 | |
2014-12-31 | 3,324.00 | 146.00 | 1,168.00 | |
2013-12-31 | 2,462.00 | 269.00 | 1,016.00 |
*GAAP earnings excluding extraordinary items.
How is GMO Media's financial health and their level of debt?
All data from GMO Media Company Filings, last reported 2 months ago.
Date (Data in JPY Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2019-09-30 | 2,328.00 | 0.00 | 2,475.00 |
2019-06-30 | 2,427.00 | 0.00 | 2,590.00 |
2019-03-31 | 2,434.00 | 0.00 | 2,562.00 |
2018-12-31 | 2,487.00 | 0.00 | 2,522.00 |
2018-09-30 | 2,467.00 | 0.00 | 2,449.00 |
2018-06-30 | 2,435.00 | 0.00 | 2,516.00 |
2018-03-31 | 2,402.00 | 0.00 | 2,373.00 |
2017-12-31 | 2,420.00 | 0.00 | 2,424.00 |
2017-09-30 | 2,360.00 | 0.00 | 2,313.00 |
2017-06-30 | 2,301.00 | 0.00 | 2,375.00 |
2017-03-31 | 2,262.00 | 0.00 | 2,252.00 |
2016-12-31 | 2,318.00 | 0.00 | 2,372.00 |
2016-09-30 | 2,268.00 | 0.00 | 2,225.00 |
2016-06-30 | 2,192.00 | 0.00 | 2,164.00 |
2016-03-31 | 2,131.00 | 0.00 | 2,044.00 |
2015-12-31 | 2,093.00 | 0.00 | 2,096.00 |
2014-12-31 | 780.00 | 0.00 | 818.00 |
2013-12-31 | 786.00 | 0.00 | 373.00 |
What is GMO Media's current dividend yield, its reliability and sustainability?
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 Interactive Media and Services Industry Average Dividend Yield | Market Cap Weighted Average of 16 Stocks | 2.1% |
Japan Market Average Dividend Yield | Market Cap Weighted Average of 2972 Stocks | 2.3% |
Japan Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
Japan Bottom 25% Dividend Yield | 25th Percentile | 1.3% |
Japan Top 25% Dividend Yield | 75th Percentile | 3% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
Date (Data in ¥) | Dividend per Share (annual) | Avg. No. Analysts |
---|
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Teruyuki Mori has been the President of GMO Media Inc. since February 2002 and served as its Managing Director until April 12 2016. Mr. Mori served as Managing Director of Kabegami.com since August 2002. He served as Managing Director of GMOMediaHoldings,Inc. since April 2005. He has been a Representative Director at GMO Media Inc. since February 2002 and served as its Director since September 2001. Mr. Mori served as Director at Innovex Co., Ltd. (now GMO TECH, Inc.) since April 2009 and GMO Kumapon, Inc. since March 2011. He served as Director of GMO Tea Cup Communication, Inc. since July 2003 and GMO EC Laboratory, Inc. since March 2011. Mr. Mori serves as a Director of GMO Internet Inc.
Average tenure of the GMO Media management team in years:
Average tenure and age of the GMO Media board of directors in years:
GMO Media Inc. provides Internet and related advertising services to in Asia and internationally. It offers PointTown, an application which provides games and questionnaires in exchange of saved points for cash, electronic money, and gift certificates; Gooseno, a browser game platform that provides various contents from PC to smartphone to casual games; prican that provides content for teenage girls, including preimage and pre-novel; CoordiSnap, a fashion sharing SNS; yaplog!, a free blog service; Coeteco, which offers programming education; freeml, a mailing list service; and RankingShare shares selected information in ranking or ten-selection format, primarily on gourmet and various items. The company also provides wallpaper portal site through Wallpapers.com, as well as offers teacup that provides bulletin boards and blogs. The company was founded in 2000 and is based in Tokyo, Japan. GMO Media Inc. is a subsidiary of GMO Internet, Inc.
Name: | GMO Media Inc. |
6180 | |
Exchange: | TSE |
Founded: | 2000 |
¥2,784,570,110 | |
1,868,839 | |
Website: | http://www.gmo.media |
Address: |
GMO Media Inc. Cerulean Tower, 9th Floor, Tokyo, 150-8512, Japan |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
TSE | 6180 | Common Stock | The Tokyo Stock Exchange | JP | JPY | 23. Oct 2015 |
Interactive Media and Services | |
Media |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/12/05 15:46 |
End of day share price update: | 2019/12/04 00:00 |
Last estimates confirmation: | 2019/02/08 |
Last earnings filing: | 2019/11/12 |
Last earnings reported: | 2019/09/30 |
Last annual earnings reported: | 2018/12/31 |
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.