CHANGE Holdings,Inc.

3962・Prime Market・Information & Communication

Official website

CHANGE Holdings,Inc.

3962・Prime Market・Information & Communication

Official website

CHANGE Holdings,Inc.3962

Reference Indicators

Market Cap

707¥100M

P/E (Forecast)

9.6x

P/B

1.4x

Dividend Yield (Forecast)

2.72%

ROE

14.8%

EV/EBITDA

4.8x

Financial Summary

Unit: ¥M

Item	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Net Sales	10,140	20,021	37,015	46,387	52,827
Cost of Sales	2,166	7,498	13,973	20,499	23,994
Gross Profit	7,974	12,522	23,041	25,888	28,832
SG&A Expenses	3,327	7,168	12,077	13,265	17,766
Operating Income	4,582	5,730	7,562	13,515	11,225
Pre-tax Income	4,564	5,653	7,429	12,745	11,020
Income Taxes	1,408	1,743	2,928	4,734	3,840
Net Income	3,093	3,856	4,325	7,532	6,937
EBITDA	4,862	6,702	9,206	15,902	13,872
Gross Margin	78.6%	62.5%	62.2%	55.8%	54.6%
Operating Margin	45.2%	28.6%	20.4%	29.1%	21.2%
ROA	7.2%	7.3%	4.8%	7.2%	6.6%
ROE	9.2%	10.6%	10.9%	18.3%	14.8%

Segment Performance

Unit: ¥M

2026

Segment	Net Sales	Operating Income	Operating Margin
NEW-ITトランスフォーメーション事業	23,254	3,257	14.0%
パブリテック事業	29,461	14,156	48.0%