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v0.1
3984.T$1820.00+0.44%
Fair $1820.00+0.0%

3984.T

User Local, Inc.

Technology / Information Technology ServicesTokyo

$1820.00

+8.00 (+0.44%)

Fairly Valued+0.0%Fair Value $1820.00Fund rank 35/100 · Data gapFallback financials|
SA 60/B
F-Score: 6/9

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 23% · confianza 25%

FCF escenarios

weak_data · normalized FCF $1.5B · quality 70.0/100

Data gap 35/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 93/100Data 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

60/100

B

Piotroski

6/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified.
Thesis & Journal · 3984.TLocal privado en este navegador · User Local, Inc.
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

$28.7B

P/E

17.7x

↓

EV/EBITDA

10.3x

↓

ROE

16.4%

↑

Gross Margin

89.9%

↑

Debt/Equity

N/A

•
52-Week Range$1820
$1350$2199

TradingView lightweight chart

3984.T price, volumen y niveles de valoración

Último $1,820Periodo -41.6%
Fair value: $1,820

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

+19.5%

FCF CAGR

+21.2%

FCF margin

33.8%

FCF / Net income

1.08x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $4.58B · net income $1.43B · FCF $1.55B

2022-FY → 2025-FY

Gross margin

89.9%-2.5% pts

Operating margin

43.0%+4.8% pts

Net margin

31.2%+4.3% pts

FCF margin

33.8%+1.4% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$4.58B$4.58B$3.91B$3.29B$2.68B
Net Income$1.43B$1.43B$1.19B$954.4M$721.9M
EBITDA$2.01B$2.01B$1.76B$1.40B$1.05B
EPS88.7188.7173.5759.2144.73
Gross Margin89.9%89.9%91.3%92.8%92.4%
Operating Margin43.0%43.0%44.2%41.7%38.2%
Net Margin31.2%31.2%30.3%29.0%26.9%
Balance Sheet
Current Ratio8.058.05———
Cash Flow
Free Cash Flow$1.55B$1.55B$1.53B$1.29B$869.3M
Returns
ROE16.4%16.4%15.3%15.1%13.0%
Valuation
P/E17.6517.6528.2740.6535.52
EV/EBITDA10.3210.3214.7223.2119.39
P/B3.373.374.346.124.63
Growth & Yield
Revenue Growth17.3%17.3%18.8%22.5%—
EPS Growth20.6%20.6%24.3%32.4%—
Dividend Yield1.6%1.6%———

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

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

22.1%

exigente

EPS terminal req.

$161.49

Spread vs growth

-1.5%

5Y implied EPS CAGR

17.1%

exigente

EPS terminal req.

$195.41

Spread vs growth

3.5%

10Y implied EPS CAGR

13.5%

razonable

EPS terminal req.

$314.71

Spread vs growth

7.1%

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 +5.5%

Total return

+5.5%

Start / end P/E

23.8x → 20.5x

EPS bridge

73.57 → 88.71

Residual

-2.8%

EPS growth+20.6%
Multiple rerating-13.7%
Dividend+1.6%
Residual / FX / buybacks / cross-term-2.8%

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.