Roland DG market cap is ¥15 b, and annual revenue was ¥42.77 b in FY 2018

Roland DG Gross profit (H1, 2019)8.9 B

Roland DG Gross profit margin (H1, 2019), %44.5%

Roland DG Net income (H1, 2019)1.1 B

Roland DG EBIT (H1, 2019)1.6 B

Roland DG Cash, 30-Jun-201911.3 B

Roland DG EV6.5 B

Roland DG revenue was ¥42.77 b in FY, 2018 which is a 1.8% year over year decrease from the previous period.

Roland DG revenue breakdown by business segment: 18.5% from Others, 13.1% from 3D Products, 33.3% from Printers, 31.9% from Supplies and 3.1% from Other

Roland DG revenue breakdown by geographic segment: 37.9% from Europe, 14.4% from Others, 10.8% from Japan, 8.2% from Asia and 28.7% from North America

JPY | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Revenue | 44.1b | 43.6b | 42.8b |

| (1%) | (2%) | |

## Cost of goods sold | 24.1b | 24.2b | 23.7b |

## Gross profit | 20.0b | 19.3b | 19.1b |

| 45% | 44% | 45% |

## General and administrative expense | 15.7b | 15.5b | 14.8b |

## Operating expense total | 15.7b | 15.5b | 14.8b |

## EBIT | 4.4b | 3.9b | 4.3b |

| 10% | 9% | 10% |

## Interest expense | 31.7m | 19.8m | 15.9m |

## Interest income | 16.2m | 15.6m | 13.9m |

## Pre tax profit | 4.1b | 2.4b | 3.9b |

## Income tax expense | 1.4b | 441.5m | 980.0m |

## Net Income | 2.7b | 1.9b | 2.9b |

JPY | H1, 2017 | H1, 2018 | H1, 2019 |
---|---|---|---|

## Revenue | 21.4b | 21.0b | 20.0b |

## Cost of goods sold | 12.1b | 11.6b | 11.1b |

## Gross profit | 9.3b | 9.4b | 8.9b |

| 44% | 45% | 45% |

## General and administrative expense | 8.0b | 7.6b | 7.3b |

## Operating expense total | 8.0b | 7.6b | 7.3b |

## EBIT | 1.4b | 1.8b | 1.6b |

| 6% | 8% | 8% |

## Interest expense | 11.0m | 9.5m | 20.7m |

## Interest income | 9.1m | 5.5m | 9.3m |

## Pre tax profit | (19.2m) | 1.5b | 1.5b |

## Income tax expense | 13.1m | 487.4m | 408.2m |

## Net Income | (32.2m) | 1.0b | 1.1b |

JPY | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Cash | 10.0b | 9.8b | 11.2b |

## Accounts Receivable | 4.9b | 4.6b | 5.0b |

## Inventories | 8.4b | 8.4b | 8.0b |

## Current Assets | 25.7b | 26.4b | 27.2b |

## PP&E | 7.1b | 6.9b | 6.7b |

## Goodwill | 410.1m | 372.3m | 274.4m |

## Total Assets | 36.3b | 36.6b | 36.7b |

## Accounts Payable | 1.9b | 1.9b | 2.0b |

## Short-term debt | 1.4b | 1.6b | 360.0m |

## Current Liabilities | 8.3b | 8.3b | 7.1b |

## Long-term debt | 4.7b | 3.2b | 2.9b |

## Non-Current Liabilities | 7.5b | 5.7b | 5.4b |

## Total Debt | 6.1b | 4.8b | 3.2b |

## Total Liabilities | 15.7b | 14.0b | 12.5b |

## Common Stock | 3.7b | 3.7b | 3.7b |

## Additional Paid-in Capital | 3.7b | 3.7b | 3.7b |

## Retained Earnings | 14.8b | 16.0b | 18.2b |

## Total Equity | 20.6b | 22.5b | 24.2b |

## Debt to Equity Ratio | 0.3 x | 0.2 x | 0.1 x |

## Debt to Assets Ratio | 0.2 x | 0.1 x | 0.1 x |

## Financial Leverage | 1.8 x | 1.6 x | 1.5 x |

JPY | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 |
---|---|---|---|---|---|---|---|---|

## Cash | 9.6b | 8.9b | 8.3b | 9.7b | 10.9b | 11.0b | 11.1b | 11.3b |

## Accounts Receivable | 4.9b | 4.8b | 4.8b | 4.8b | 4.7b | 4.9b | 4.8b | 4.6b |

## Inventories | 8.2b | 8.2b | 9.0b | 7.9b | 7.3b | 8.1b | 8.7b | 8.9b |

## Current Assets | 26.2b | 25.0b | 25.5b | 25.6b | 25.8b | 26.6b | 26.2b | 26.3b |

## PP&E | 7.0b | 7.0b | 6.9b | 6.8b | 6.7b | 6.8b | 7.4b | 7.4b |

## Goodwill | 382.5m | 390.3m | 385.6m | 341.3m | 314.9m | 306.1m | 250.2m | 227.0m |

## Total Assets | 36.7b | 35.5b | 36.0b | 35.6b | 35.4b | 36.4b | 37.4b | 37.3b |

## Accounts Payable | 2.2b | 2.1b | 2.0b | 1.7b | 1.7b | 2.0b | 1.9b | 2.0b |

## Short-term debt | 1.7b | 1.5b | 1.6b | 1.6b | 1.1b | 720.0m | 360.0m | 720.0m |

## Current Liabilities | 10.3b | 8.5b | 8.6b | 8.3b | 7.4b | 7.6b | 7.8b | 7.9b |

## Long-term debt | 4.3b | 4.0b | 3.6b | 2.9b | 2.9b | 2.9b | 2.5b | 2.2b |

## Non-Current Liabilities | 7.1b | 6.8b | 6.4b | 5.2b | 5.2b | 5.2b | 5.5b | 5.0b |

## Total Debt | 6.0b | 5.5b | 5.2b | 4.5b | 4.0b | 3.6b | 2.9b | 2.9b |

## Total Liabilities | 17.4b | 15.3b | 14.9b | 13.4b | 12.6b | 12.8b | 13.3b | 13.0b |

## Common Stock | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b |

## Additional Paid-in Capital | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b | 3.7b |

## Retained Earnings | 13.7b | 14.4b | 15.0b | 15.9b | 16.6b | 17.1b | 18.2b | 18.6b |

## Total Equity | 20.4b | 21.2b | 21.8b | 22.8b | 23.6b | 24.0b | 25.1b | 25.4b |

## Financial Leverage | 1.8 x | 1.7 x | 1.7 x | 1.6 x | 1.5 x | 1.5 x | 1.5 x | 1.5 x |

JPY | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Depreciation and Amortization | 1.4b | 1.2b | 1.2b |

## Accounts Receivable | (750.0m) | 515.4m | (566.6m) |

## Inventories | 592.7m | 201.7m | 42.3m |

## Accounts Payable | 479.3m | (518.3m) | 119.0m |

## Cash From Operating Activities | 5.4b | 2.4b | 4.3b |

## Purchases of PP&E | (757.9m) | (547.8m) | (508.1m) |

## Cash From Investing Activities | (1.4b) | (827.9m) | (755.9m) |

## Short-term Borrowings | 132.4m | (136.8m) | |

## Long-term Borrowings | (2.5b) | (1.4b) | (1.4b) |

## Dividends Paid | (813.4m) | (698.0m) | (759.8m) |

## Cash From Financing Activities | (3.9b) | (2.0b) | (2.3b) |

## Net Change in Cash | (316.4m) | (197.2m) | 1.4b |

## Interest Paid | (33.2m) | (19.8m) | (15.9m) |

## Income Taxes Paid | (1.3b) | (766.6m) | (508.6m) |

JPY | Y, 2019 |
---|---|

## EV/EBIT | 4.2 x |

## Financial Leverage | 1.5 x |