HEIWA PAPER CO.,LTD.

9929 TSE Consumer Discretionary Wholesale Trade
TSE Standard
¥473.00
-0.63%
Delayed · cached 15 min

Fair value analysis

9929
HEIWA PAPER CO.,LTD.
Consumer DiscretionaryWholesale Trade
¥473.00
Close used for this calculation
¥173.92Fair value
Financial DNA Score
Profitability · Returns · Balance Sheet · Efficiency · Growth
25/100
Profitability6/25
Returns1/25
Balance Sheet13/25
Efficiency5/25
Growth4/25
Weak
Quality radar
25Prof.6/25Ret.1/25Eff.5/25B.Sht13/25Growth4/25

Consensus fair value

¥173.92
Above FV
▼ -63.2% against the close used
Model range ¥21.54 – ¥455.42
The lowest and highest of the models that produced a value. This is the spread of the methods, not a price target.

Price target range & 52-week position

Bear¥21.54Fair value¥173.92Bull¥455.42
FairClose
52-week traded range
52W low ¥440.0052W high ¥510.00

The 52-week range is measured from the stored price history, not estimated.

Valuation summary

Trading above the consensus fair value

HEIWA PAPER CO.,LTD. closed at ¥473.00, 172.0% above the consensus fair value of ¥173.92 drawn from 9 valuation models.

Financial DNA score 25/100 — Weak. P/E of 56.4x against the 20x sector multiple the P/E model uses.

Quantitative summary only — not investment advice.

All valuation models

DCF Valuation
¥157.06
-66.8%
Σ[CF×(1+g)^n/(1.10)^n] + TV/(1.10)^10
g=8%, r=10%, tg=3%, n=10yr
Graham Number
¥455.42
-3.7%
√(22.5 × EPS × BVPS)
EPS=8.38, BVPS=1100 · outside Graham range (P/E 56.4, P/B 0.4) — asset-light, treat as a rough floor
P/E Fair Value
¥167.60
-64.6%
EPS × 20x (sector P/E)
EPS=8.38, Sector P/E=20x
Peter Lynch (PEG)
¥21.54
-95.4%
EPS × Growth% (PEG = 1 is fair)
EPS=8.38, g=2.6%
EV/EBITDA
¥122.56
-74.1%
(EBITDA × 10x − Net Debt) ÷ Shares
EBITDA=287.25M
Dividend Discount (DDM)
¥153.18
-67.6%
D1 ÷ (r − g) where D1 = D0×(1+g)
D0=12.01, r=10%, g=2%
Book Value (P/B)
¥110.00
-76.7%
BVPS × (ROE−g)÷(r−g) [Justified P/B — RIM-based]
BVPS=1100, ROE=1%, g=3%, r=10%
Reverse DCF
¥473.00
+0.0%
Solve for g: Price = Σ[EPS×(1+g)^n/(1.10)^n] + TV
Implied: 21.2% | Historical: -2.6%
Margin of Safety
¥195.02
-58.8%
Avg(DCF, Graham, P/E) × 75% (25% safety buffer)
Avg fair value=260.03, MoS=25%

Computed on September 12, 2026 from the most recent annual report on file and that day's closing price. Where a company has seen its earnings move sharply since its last annual report, this figure will lag the market.

Educational data only. Not a recommendation to buy, sell or hold any security.

Educational data only. Not a recommendation to buy, sell or hold any security.