Today I will talk about FPG that mainly engages in the leasing arrangement business, real estate business, and merger and acquisitions business for small and medium-sized companies or high-net-worth individuals.
※The above images are from FPG’s website.
FPG (Financial Products Group) is not only steadily growing its main business which is leasing for aircraft and ships, but also diversifying its business in real estate, insurance, securities and other businesses.
Most of the sales are made through commission income so that they yield high profit margins.
￥1,025（1/24 last closing price) The latest stock price← click here Trading unit: 100
The final month of the settlement: September Dividend yield 5.86% PER 8.99 PBR 2.77
Equity ratio 26.0%
In recent years, particularly sales of small lot real estate products have been doing well, and achieved record sales and profits in the previous fiscal year, but stock prices have remained low.
It seems that many investors shy away because FPG has a lot of borrowings and negative operating cash flow, but from a different perspective, the company is increasing investment in products that are the source of sales for future growth.
In addition to high dividends, shareholders who have more than 500 shares can receive a gift card that can be used at places such as department stores.
The amount on the gift card varies depending on how much and how long you hold shares.
FPG special benefits ←Click here for details
Transition of business results
|
|
Net sales |
Operating profit |
Net profit |
Net profit per share |
dividend |
Dividend payout ratio |
|
2017.9 |
21,071 |
13,417 |
9,580 |
106.4 |
45.80 |
43% |
|
2018.9 |
22,043 |
13,064 |
8,989 |
99.7 |
49.25 |
49% |
|
2019.9 |
26,595 |
14,432 |
10,035 |
113.0 |
53.00 |
47% |
|
2020.9 |
24,300 |
14,000 |
10,100 |
114.0 |
60.10 |
53% |
※Unit of sales, operating profit, net income is one-million yen
※The figure for September 2020 is the predicted value
|
Cash flow statement |
2019.9 |
2018.9 |
|
CF operating activities |
▲248 |
115 |
|
CF investing activities |
▲3 |
▲8 |
|
CF financing activities |
288 |
▲98 |
※One unit is one hundred million yen
Note: You should be responsible for your own investment. Please make your own final judgment.