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146A.T$2696.00-2.00%
Fair $2696.00+0.0%

146A.T

146A.T

Real Estate / Real Estate - DevelopmentTokyo

$2696.00

-55.00 (-2.00%)

Fairly Valued+0.0%Fair Value $2696.00Fund rank 19/100 · Data gapFallback financials|
SA 45/C
F-Score: 4/9
High DebtMargin Compression

Book/ROE base 3Y

n/d

n/d CAGR · P/B n/d

Book/ROE base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 100% · confianza 20%

Book/ROE escenarios

weak_data · book/share n/d · quality 80.0/100

Data gap 19/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 16/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

45/100

C

Piotroski

4/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 2unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific NAV/AFFO model required: REIT/real-estate targets are disabled until FFO/AFFO/NAV/cap-rate data exists. REIT NAV/AFFO valuation requires positive AFFO/share history or TTM AFFO/share; generic FCF remains disabled. Debt-to-Equity ratio is 2.69, above the 2.0 threshold Operating margin has declined for 3 consecutive years
Thesis & Journal · 146A.TLocal privado en este navegador · 146A.T
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$20.8B

P/E

5.4x

↓

EV/EBITDA

9.3x

↓

ROE

19.9%

↑

Gross Margin

23.3%

↓

Debt/Equity

2.69

↑
52-Week Range$2696
$2175$4710

TradingView lightweight chart

146A.T price, volumen y niveles de valoración

Último $2,696Periodo +44.8%
Fair value: $2,696

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+49.9%

FCF CAGR

—

FCF margin

-15.5%

FCF / Net income

-1.66x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $37.08B · net income $3.46B · FCF $-5.76B

2022-FY → 2025-FY

Gross margin

23.3%-6.5% pts

Operating margin

16.3%-3.6% pts

Net margin

9.3%-1.3% pts

FCF margin

-15.5%+40.1% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$37.08B$37.08B$20.98B$14.47B$11.01B
Net Income$3.46B$3.46B$2.24B$1.52B$1.17B
EBITDA$6.39B$6.39B$4.23B$2.79B$2.19B
EPS——345.96303.27234.80
Gross Margin23.3%23.3%27.0%26.6%29.9%
Operating Margin16.3%16.3%18.6%18.8%19.9%
Net Margin9.3%9.3%10.7%10.5%10.7%
Balance Sheet
Debt/Equity2.692.693.113.263.39
Current Ratio2.422.42———
Cash Flow
Free Cash Flow$-5.76B$-5.76B$-16.05B$-2.92B$-6.13B
Returns
ROE19.9%19.9%18.5%21.2%20.3%
Valuation
P/E5.435.435.52——
EV/EBITDA9.349.349.34——
P/B1.191.190.51——
Growth & Yield
Revenue Growth76.8%76.8%45.0%31.4%—
EPS Growth——14.1%29.2%—
Dividend Yield3.4%3.4%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +20.6%

Total return

+20.6%

Start / end P/E

n/dx → n/dx

EPS bridge

345.96 → n/d

Residual

+17.2%

EPS growthn/d
Multiple reratingn/d
Dividend+3.4%
Residual / FX / buybacks / cross-term+17.2%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.