Valuation Starts Proceed Investment Corporation

Stocks

Market Closed - Japan Exchange 04:30:00 02/10/26 pm AEST			5-day change	1st Jan Change
177,700.00 ^JPY	-3.42%		-4.05%	-11.90%

01/10	Starts Proceed Investment Corporation completed the acquisition of Proceed Musashisakai.	CI
30/09	Starts Proceed Investment Completes Tokyo Property Sale	MT

Data adjusted to current consolidation scope

Fiscal Period: April	2021	2022	2023	2024	2025	2026
Market Cap ¹	57,709	59,130	65,111	58,473	46,308	52,903
Change	-	2.46%	10.11%	-10.2%	-20.8%	14.24%
Enterprise Value (EV) ¹	101,966	102,666	115,959	113,212	97,386	107,303
Change	-	0.69%	12.95%	-2.37%	-13.98%	10.18%
P/E	22.4x	25.1x	22.8x	22.2x	17.3x	22x
PBR	1.33x	1.36x	1.32x	1.19x	0.98x	1.14x
PEG	-	-2.94x	2.49x	-2.72x	3.41x	-2.28x
Capitalization / Revenue	8.86x	9.43x	9.71x	8.18x	6.39x	7.24x
EV / Revenue	15.7x	16.4x	17.3x	15.8x	13.4x	14.7x
EV / EBITDA	24x	26x	27.4x	25.7x	21.7x	23.4x
EV / EBIT	34.6x	38.7x	40.2x	36.9x	31.7x	34.1x
EV / FCF	-57.2x	-	78.1x	36.9x	32.6x	-62.1x
FCF Yield	-1.75%	-	1.28%	2.71%	3.07%	-1.61%
Dividend per Share ²	-	9,281	11,638	9,985	10,720	-
Rate of return	-	3.98%	5.05%	4.82%	6.33%	-
EPS ²	10,147	9,281	10,130	9,304	9,776	8,832
Distribution rate	-	100%	115%	107%	110%	-
Net sales ¹	6,512	6,271	6,709	7,145	7,242	7,303
EBITDA ¹	4,249	3,948	4,225	4,405	4,480	4,583
EBIT ¹	2,946	2,654	2,884	3,065	3,072	3,150
Net income ¹	2,575	2,355	2,716	2,628	2,761	2,406
Net Debt ¹	44,257	43,536	50,848	54,740	51,078	54,400
Reference price ²	227,400.00	233,000.00	230,500.00	207,000.00	169,400.00	194,200.00
Nbr of stocks (in thousands)	254	254	282	282	273	272
Announcement Date	27/7/21	25/7/22	24/7/23	29/7/24	25/7/25	28/7/26

¹JPY in Million²JPY

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
STARTS PROCEED INVESTMENT CORPORATION	-	-	-	-	307M
VIVMARK RESIDENTIAL	38.12x	12.57x	22.4x	-	46.26B
ESSEX PROPERTY TRUST, INC.	47.84x	12.17x	18.69x	3.86%	17.27B
INVITATION HOMES INC.	26.28x	7.95x	15.38x	4.62%	15.38B
SUN COMMUNITIES, INC.	-18.02x	8.46x	18.26x	4.04%	13.49B
MID-AMERICA APARTMENT COMMUNITIES, INC.	30.86x	8.58x	15.22x	5.32%	13.37B
EQUITY LIFESTYLE PROPERTIES, INC.	28x	9.27x	18.94x	3.7%	11.3B
AMERICAN HOMES 4 RENT	31.03x	8.4x	15.74x	4.35%	10.89B
UDR, INC.	31.89x	9.73x	15.81x	5.23%	10.69B
CAMDEN PROPERTY TRUST	69.88x	8.7x	15.62x	4.42%	9.84B
Average	31.76x	9.54x	17.34x	4.44%	14.88B
Weighted average by Cap.	32.64x	10.29x	18.54x	4.42%