Human HD(TYO.2415): FY2025 Q4 Earning Update
Almost Net-Net, Forward PER 6.9x, Dividend 4.3%, Continued growth due to labor shortage in Japan.
*I’ve already published stock analysis report for Human HD(TYO.2415). If you’re interested, please check it out.
Human HD announced FY2025 Q4 earning update in 2025/05/15. (Link)
Nothing special. Due to the labor shortage in Japan, Human HD achieved the solid business performance. Sales/Profit grew YoY. The actual result exeeded the guidance.
*Actual Result
*Guidance
Regarding the guidance FY2025, Human HD continues to grow sales/operating profit. Due to the tax effect, the net profit of FY2025 will decrease YoY. Looking into the segment, ‘人材‘(human resource) segment is the continued growth driver.
*Link
Next is the dividend. The dividend for FY2024 increased 64→75 yen. The proposed dividend for FY2025 is 72.5 yen, which is in line with payout ratio 30% in the dividend policy. The expected yield is 4.3%, not bad.
For valuation, it’s still almost Net-Net stock. ‘Cash+PER‘ valuation has a margin 87%~130%. Forward PER 6.9.
The stock price rose by over 60% since I bought. However, considering the continued business growth based on the structural problem of labor shortage in Japan, I believe the current valuation is still cheap.
