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Cresco

TSE:4674
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4674
TSE
¥28B
Market Cap
  1. Home
  2. JP
  3. Software
Company description

Cresco Ltd., together with its subsidiaries, provides various services in the fields of application development, IT infrastructure system architecture, and embedded systems in Japan. The last earnings update was 61 days ago. More info.


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  • Cresco has significant price volatility in the past 3 months.
4674 Share Price and Events
7 Day Returns
-7.2%
TSE:4674
-6.8%
JP Software
-8.9%
JP Market
1 Year Returns
-21.6%
TSE:4674
-8.7%
JP Software
-17.9%
JP Market
4674 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cresco (4674) -7.2% -16.3% -25.5% -21.6% -1.6% 42%
JP Software -6.8% -7.3% -22.2% -8.7% 29.7% 52.9%
JP Market -8.9% -10.5% -21.9% -17.9% -10.5% -14%
1 Year Return vs Industry and Market
  • 4674 underperformed the Software industry which returned -8.7% over the past year.
  • 4674 underperformed the Market in Japan which returned -17.9% over the past year.
Price Volatility
4674
Industry
5yr Volatility vs Market

4674 Value

 Is Cresco 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 Cresco 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 Cresco.

TSE:4674 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
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 TSE:4674
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Software Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.016 (1 + (1- 30.86%) (9.45%))
1.055
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.055 * 6.33%)
6.59%

Discounted Cash Flow Calculation for TSE:4674 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cresco 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.

TSE:4674 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.59%)
2020 2,360.00 Analyst x1 2,214.08
2021 2,640.00 Analyst x1 2,323.62
2022 2,930.00 Analyst x1 2,419.42
2023 3,110.00 Analyst x1 2,409.26
2024 3,228.61 Est @ 3.81% 2,346.50
2025 3,313.92 Est @ 2.64% 2,259.58
2026 3,374.33 Est @ 1.82% 2,158.51
2027 3,416.48 Est @ 1.25% 2,050.34
2028 3,445.42 Est @ 0.85% 1,939.87
2029 3,464.93 Est @ 0.57% 1,830.22
Present value of next 10 years cash flows ¥21,951.00
TSE:4674 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥3,464.93 × (1 + -0.09%) ÷ (6.59% – -0.09%)
¥51,818.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥51,818.66 ÷ (1 + 6.59%)10
¥27,371.35
TSE:4674 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥21,951.00 + ¥27,371.35
¥49,322.35
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥49,322.35 / 20.99
¥2349.75
TSE:4674 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥2,349.75
Current discount Discount to share price of ¥1,343.00
= -1 x (¥1,343.00 - ¥2,349.75) / ¥2,349.75
42.8%

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

Current Discount
Amount off the current price Cresco is available for.
Intrinsic value
43%
Share price is ¥1343 vs Future cash flow value of ¥2349.75
Current Discount Checks
For Cresco to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cresco's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cresco's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Cresco's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cresco's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:4674 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥121.97
TSE:4674 Share Price ** TSE (2020-04-06) in JPY ¥1343
Japan Software Industry PE Ratio Median Figure of 95 Publicly-Listed Software Companies 20.45x
Japan Market PE Ratio Median Figure of 3,071 Publicly-Listed Companies 11.51x

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

** Primary Listing of Cresco.

TSE:4674 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:4674 Share Price ÷ EPS (both in JPY)

= 1343 ÷ 121.97

11.01x

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

  • Cresco is good value based on earnings compared to the JP Software industry average.
  • Cresco is good value based on earnings compared to the Japan market.
Price based on expected Growth
Does Cresco's expected growth come at a high price?
Raw Data
TSE:4674 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
8.1%per year
Japan Software Industry PEG Ratio Median Figure of 27 Publicly-Listed Software Companies 2.03x
Japan Market PEG Ratio Median Figure of 1,281 Publicly-Listed Companies 1.25x

*Line of best fit is calculated by linear regression .

TSE:4674 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.01x ÷ 8.1%

1.36x

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

  • Cresco is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Cresco's assets?
Raw Data
TSE:4674 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥758.20
TSE:4674 Share Price * TSE (2020-04-06) in JPY ¥1343
Japan Software Industry PB Ratio Median Figure of 121 Publicly-Listed Software Companies 2.08x
Japan Market PB Ratio Median Figure of 3,576 Publicly-Listed Companies 0.8x
TSE:4674 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:4674 Share Price ÷ Book Value per Share (both in JPY)

= 1343 ÷ 758.20

1.77x

* Primary Listing of Cresco.

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

  • Cresco is good value based on assets compared to the JP Software industry average.
X
Value checks
We assess Cresco'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Cresco has a total score of 5/6, 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.

4674 Future Performance

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

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
8.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cresco expected to grow at an attractive rate?
  • Cresco's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Cresco's earnings growth is positive but not above the Japan market average.
  • Cresco's revenue growth is expected to exceed the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:4674 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:4674 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 8.1%
TSE:4674 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6.3%
Japan Software Industry Earnings Growth Rate Market Cap Weighted Average 22.5%
Japan Software Industry Revenue Growth Rate Market Cap Weighted Average 11.8%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.1%
Japan Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*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
TSE:4674 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:4674 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 47,000 3,700 3,350 1
2022-03-31 44,083 3,500 3,035 3
2021-03-31 41,200 3,200 2,793 3
2020-04-06
2020-03-31 38,940 2,900 2,580 3
TSE:4674 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 38,359 2,615
2019-09-30 37,407 3,163 2,348
2019-06-30 36,362 2,305
2019-03-31 35,230 1,824 2,285
2018-12-31 34,697 2,155
2018-09-30 34,116 1,565 2,121
2018-06-30 33,782 2,120
2018-03-31 33,328 2,174 2,202
2017-12-31 32,878 2,276
2017-09-30 32,406 2,144 2,332
2017-06-30 31,538 2,169
2017-03-31 30,893 1,144 2,042

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cresco's earnings are expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).
  • Cresco's revenue is expected to grow by 6.3% yearly, however this is not considered high growth (20% yearly).
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
TSE:4674 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Cresco Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:4674 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 159.75 159.75 159.75 1.00
2022-03-31 139.57 150.21 121.00 3.00
2021-03-31 128.56 138.29 109.60 3.00
2020-04-06
2020-03-31 118.73 130.50 101.70 3.00
TSE:4674 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 121.97
2019-09-30 108.01
2019-06-30 105.35
2019-03-31 104.43
2018-12-31 98.64
2018-09-30 97.53
2018-06-30 97.25
2018-03-31 100.09
2017-12-31 102.37
2017-09-30 103.49
2017-06-30 95.63
2017-03-31 90.11

*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.
  • Cresco is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Cresco'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.
Cresco has a total score of 2/6, 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.

4674 Past Performance

  How has Cresco 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 Cresco's growth in the last year to its industry (Software).
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.
  • Cresco's year on year earnings growth rate has been positive over the past 5 years.
  • Cresco's 1-year earnings growth exceeds its 5-year average (21.3% vs 11%)
  • Cresco's earnings growth has exceeded the JP Software industry average in the past year (21.3% vs 20.8%).
Earnings and Revenue History
Cresco'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 Cresco Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:4674 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 38,359.00 2,615.00 3,424.00
2019-09-30 37,407.00 2,348.00 3,392.00
2019-06-30 36,362.00 2,305.00 3,264.00
2019-03-31 35,230.00 2,285.00 3,197.00
2018-12-31 34,697.00 2,155.00 3,163.00
2018-09-30 34,116.00 2,121.00 3,079.00
2018-06-30 33,782.00 2,120.00 3,079.00
2018-03-31 33,328.00 2,202.00 2,979.00
2017-12-31 32,878.00 2,276.00 2,887.00
2017-09-30 32,406.00 2,332.00 2,858.00
2017-06-30 31,538.00 2,169.00 2,832.00
2017-03-31 30,893.00 2,042.00 2,802.00
2016-12-31 30,159.00 1,589.00 2,770.00
2016-09-30 29,696.00 1,555.00 2,734.00
2016-06-30 29,225.00 1,712.00 2,644.00
2016-03-31 28,775.00 1,705.00 2,570.00
2015-12-31 27,999.00 1,824.00 2,542.00
2015-09-30 26,883.00 1,649.00 2,480.00
2015-06-30 25,817.00 1,408.00 2,429.00
2015-03-31 25,063.00 1,405.00 2,378.00
2014-12-31 24,455.00 1,405.00 2,308.00
2014-09-30 23,597.00 1,276.00 2,256.00
2014-06-30 22,773.00 1,116.00 2,237.00
2014-03-31 22,028.00 941.00 2,180.00
2013-12-31 21,046.00 958.00 2,107.00
2013-09-30 20,442.00 867.00 2,017.00
2013-06-30 19,760.00 815.00 1,904.00

*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.
  • Cresco has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cresco used its assets more efficiently than the JP Software industry average last year based on Return on Assets.
  • Cresco has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cresco'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 Software 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.
Cresco has a total score of 5/6, 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.

4674 Health

 How is Cresco'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 Cresco's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cresco is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cresco's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Cresco'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.
  • Debt is covered by short term assets, assets are 6x debt.
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 Cresco Company Filings, last reported 3 months ago.

TSE:4674 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 15,683.00 2,660.00 7,317.00
2019-09-30 14,922.00 2,836.00 7,393.00
2019-06-30 16,217.00 934.00 6,233.00
2019-03-31 16,137.00 984.00 7,416.00
2018-12-31 15,302.00 1,089.00 6,621.00
2018-09-30 15,833.00 1,153.00 7,681.00
2018-06-30 14,969.00 1,227.00 7,320.00
2018-03-31 15,107.00 1,363.00 7,595.00
2017-12-31 14,055.00 1,412.00 6,387.00
2017-09-30 12,921.00 1,486.00 6,774.00
2017-06-30 14,002.00 196.00 6,391.00
2017-03-31 13,888.00 205.00 6,296.00
2016-12-31 13,354.00 215.00 5,497.00
2016-09-30 12,707.00 240.00 5,215.00
2016-06-30 12,130.00 199.00 4,853.00
2016-03-31 12,181.00 224.00 5,973.00
2015-12-31 12,357.00 305.00 5,472.00
2015-09-30 11,965.00 200.00 5,597.00
2015-06-30 11,212.00 259.00 4,988.00
2015-03-31 10,945.00 320.00 5,699.00
2014-12-31 9,933.00 396.00 4,536.00
2014-09-30 9,605.00 441.00 4,199.00
2014-06-30 9,134.00 508.00 3,822.00
2014-03-31 9,113.00 570.00 4,041.00
2013-12-31 9,135.00 651.00 3,923.00
2013-09-30 8,911.00 700.00 3,961.00
2013-06-30 8,577.00 785.00 3,808.00
  • Cresco's level of debt (16.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (4% vs 16.9% today).
  • Debt is well covered by operating cash flow (119%, greater than 20% of total debt).
  • Cresco earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Cresco'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. Cresco has a total score of 5/6, 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.

4674 Dividends

 What is Cresco'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
2.68%
Current annual income from Cresco dividends. Estimated to be 3.66% next year.
If you bought ¥2,000 of Cresco shares you are expected to receive ¥54 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?
  • Cresco's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.81%).
  • Cresco's dividend is below the markets top 25% of dividend payers in Japan (4.2%).
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
TSE:4674 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 3 Analyst Estimates (S&P Global) See Below
Japan Software Industry Average Dividend Yield Market Cap Weighted Average of 74 Stocks 1.8%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2988 Stocks 3%
Japan Minimum Threshold Dividend Yield 10th Percentile 1%
Japan Bottom 25% Dividend Yield 25th Percentile 1.8%
Japan Top 25% Dividend Yield 75th Percentile 4.2%

Industry and Market average data is calculated daily.

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

TSE:4674 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 68.00 1.00
2022-03-31 47.83 3.00
2021-03-31 44.17 3.00
2020-04-06
2020-03-31 36.67 3.00
TSE:4674 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-07 36.000 2.142
2019-06-24 34.000 1.930
2019-05-09 34.000 1.971
2018-11-06 32.000 1.932
2018-06-18 32.000 2.046
2018-05-08 32.000 1.821
2017-11-06 29.000 1.408
2017-06-19 29.000 1.496
2017-05-09 29.000 1.622
2016-11-07 26.000 2.105
2016-06-20 26.000 2.232
2016-05-09 26.000 2.685
2016-02-08 23.000 2.630
2016-02-05 23.000 2.524
2015-11-09 23.000 2.435
2015-11-06 23.000 2.322
2015-08-07 20.000 2.242
2015-06-22 20.000 1.984
2015-05-08 20.000 2.038
2014-11-07 17.000 1.976
2014-06-23 15.000 2.288
2014-05-07 15.000 2.554
2014-02-07 13.000 2.504
2013-11-01 13.000 2.925
2013-06-20 12.500 3.334
2013-05-07 12.500 3.274
2012-11-02 11.000 3.521
2012-08-03 11.000 3.988
2012-06-18 11.000 3.479
2012-05-07 11.000 3.551
2012-02-06 10.000 3.158
2012-02-03 10.000 3.042
2011-11-07 10.000 3.187
2011-11-04 10.000 4.043
2011-08-05 8.000 3.169
2011-06-20 8.000 2.842
2011-05-09 8.000 2.960
2011-02-04 7.500 2.646
2010-11-05 7.500 3.048
2010-06-21 7.500 3.574
2010-04-28 7.500 3.378
2010-02-01 5.000 2.303
2010-01-29 5.000 2.401
2009-11-09 5.000 2.311
2009-11-06 5.000 2.433
2009-07-06 6.250 2.715
2009-06-22 6.250 2.507
2009-05-08 6.250 2.560

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Cresco's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x 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 Cresco's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Cresco afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cresco 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.

4674 Management

 What is the CEO of Cresco'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
Hiroyuki Nemoto
AGE 59
TENURE AS CEO 6 years
CEO Bio

Mr. Hiroyuki Nemoto has been the President of Cresco Ltd. since April 2014. Mr. Nemoto served as a Managing Director of Cresco Ltd. since April 2008 and its General Manager of Business Solution Division since April 2010. He has been Executive President at Cresco Ltd. since June 2016. He joined Asahi Business Consultants, Inc. in April 1984 and K.K. Media Research in January 1987. He joined Cresco, Ltd. in April 1988 and served as its Manager of System Technology, Open System Business Department since April 1998; Manager of Monetary Solution Center since April 1999; Manager of Financial Solution Business since April 2002; Deputy General Manager of Solution Division and Overall Manager of Security Solution since April 2006; Manager of Project Promotion Office since April 2007; General Manager of Solution since April 2008; Manager of Consulting Center since April 2012 also its Overall Manager of Sales since April 2011. He has been a Director of Cresco Ltd. since June 2006.

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

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

4
Average Tenure
59
Average Age
  • The tenure for the Cresco management team is about average.
Management Team

Hiroyuki Nemoto

TITLE
President
AGE
59
TENURE
6 yrs

Kazuo Sugiyama

TITLE
Managing Executive Officer
AGE
55
TENURE
4 yrs

Michiaki Yonezaki

TITLE
Department Manager of Public Relations & IR Office

Takashi Yamamoto

TITLE
Senior Managing Executive Officer
AGE
59
TENURE
2.8 yrs

Yasumasa Shimokawa

TITLE
Executive Officer

Hironori Kudou

TITLE
Executive Officer

Hiroshi Tominaga

TITLE
GM of Corporate Management Division
AGE
52
TENURE
7 yrs

Chihiro Sugawara

TITLE
Managing Executive Officer
AGE
61
TENURE
2.8 yrs

Atsushi Kikuchi

TITLE
Managing Executive Officer & GM of Business 1 Division

Masaki Fujiya

TITLE
Managing Executive Officer & GM of Business 2 Division
Board of Directors Tenure

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

6.8
Average Tenure
62
Average Age
  • The tenure for the Cresco board of directors is about average.
Board of Directors

Toshio Iwasaki

TITLE
Chairman of the Board of Directors
COMPENSATION
¥244M
AGE
79
TENURE
13.8 yrs

Hiroyuki Nemoto

TITLE
President
AGE
59
TENURE
13.8 yrs

Kazuo Sugiyama

TITLE
Managing Executive Officer
AGE
55
TENURE
6.8 yrs

Takashi Yamamoto

TITLE
Senior Managing Executive Officer
AGE
59
TENURE
3.8 yrs

Hiroshi Tominaga

TITLE
GM of Corporate Management Division
AGE
52
TENURE
6.8 yrs

Chihiro Sugawara

TITLE
Managing Executive Officer
AGE
61
TENURE
6.8 yrs

Shigeru Hatakoshi

TITLE
Director and Audit & Supervisory Board Chairman
AGE
68

Shuuichi Kumazawa

TITLE
Director
AGE
63
TENURE
13.8 yrs

Kurao Niwa

TITLE
Director
AGE
64

Yoshimasa Usui

TITLE
External Director
AGE
70
TENURE
3.8 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 Cresco'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. Cresco 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.

4674 News

Simply Wall St News

4674 Company Info

Description

Cresco Ltd., together with its subsidiaries, provides various services in the fields of application development, IT infrastructure system architecture, and embedded systems in Japan. The company offers software and systems design, development, and consulting services; ERP consulting services; hardware design and development/prototyping services; data processing services; and design and development support services through system consulting related to control and embedding technologies, as well as cloud and Web design services. It is also involved in the development of add-on applications, and mainframe and open systems; consulting, design, deployment, and development of computer systems; and construction of server infrastructure. The company was founded in 1988 and is headquartered in Tokyo, Japan.

Details
Name: Cresco Ltd.
4674
Exchange: TSE
Founded: 1988
¥28,190,160,920
20,990,440
Website: http://www.cresco.co.jp
Address: Cresco Ltd.
Shinagawa Intercity A-tower,
25th-27th Floor,
Tokyo,
108-6026,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 4674 Common Stock The Tokyo Stock Exchange JP JPY 25. Jul 1997
Number of employees
Current staff
Staff numbers
2,061
Cresco employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 15:36
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/02/05
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.