AI 銘柄分析 · 10年

CVC Capital Partners plc

CVC · EUR · 分析基準日 2026-11-06

CVC：運用手数料と成功報酬の10年評価

10年期待年率5.99%

資本コスト11.00%

直近終値14.46 EUR2026-11-06

AIによるシナリオ分析です。基準日以降の出来事、株価や為替の変化は個別に確認が必要です。各数値は元の分析の単位と前提に従います。

分析の要約

運用資産に基づく手数料、成功報酬の変動、投資持分、借入、買収に伴う希薄化を５ケースで評価します。株数は９月末の代理値、株価は二次資料で照合。未収成功報酬の回収時期と追加報酬・税の実態は不明であり、費用を過大に見積もる可能性があります。2026年11月時点の財務は推計です。

要約の補足

buffett_moat: GP/LPネットワーク、世界30拠点の人材、長年の運用実績、複数戦略・リレーションシップに持続優位。LP資金の解約不能期間が手数料の可視性を確保する一方、次号ファンド募集・実現益・キーパーソンに依存し永久独占ではない。
management_and_alignment: Rob LucasからTodd SisitskyとPeter Rutlandへ2028年Q1までに共同CEO移行予定。事業買収で米クレジットに参入するがMarathon最大56m相当の交換株で旧株主希薄化、既存CVC DIF39%の将来新株も別枠。買戻し実績と将来株式希薄化を両建てで精査。
owner_earnings: 2026 H1連結CFO €241mは親会社帰属利益€357mと等しくない。IFRS投資評価益と発生carryを全部現金視せず、cash carry, GP出資、設備維持、新規ファンド・配分費用、NCI、SBCを分離したcash bridgeに置き換える。2028年以降会社負担SIF市場購入額=当期SBC費用と置き、キャッシュから支出。2037年持続FCFも非現金加算と株数補填費用を相殺。
reliability: 全55行と日時CFは予測モデル内部の算術恒等式であり2026年11月現在の会社決算として確定していない。NCI留保現金は終価から除外、2028年以降SIF買付を会社負担の仮定で計上。2026Q3は活動報告のみ、買収IFRS3配分・2026-11-06株数・SIF保有株数は欠落。
margin_of_safety: 期待価値と€14.46を比べ割引率11%に対する株主還元能力で判定。Fund LPの23% Gross IRRは上場CVC株主IRRではない。

結論の補足

名称: 強いファンド募集網と継続手数料。ただし成功報酬の現金化・子会社持分交換による希薄化・買収対価が安全余裕を侵食
valuation_call: not_sufficient_margin_of_safety_at_spot_price
spot_eur_per_share: 14.46
expected_intrinsic_value_eur_per_initial_share: 9.974263784
expected_present_value_old_cohort_oku: 103.988429885
expected_value_to_price: 0.689783111
expected_margin_of_safety_vs_price: -0.310216889
expected_cashflow_money_weighted_IRR: 0.059949760562
expected_case_IRRs_weighted_average_not_used: 0.043057818355

事業

プライベートエクイティ、信用、セカンダリー、インフラの運用とファンド組成を行い、運用報酬や投資成果に応じた報酬を得ます。

競争力・事業の質

投資家との長期関係や運用実績は強みですが、資金調達と投資成果、運用人材、投資価値の変動に左右されます。

業界と環境

企業買収・信用市場と金利、ファンド償還や資金募集の周期の影響を受けます。

財務・資本配分

買収対価の現金・子会社持分、株式報酬、非支配持分、未収報酬と借入を区別して株主の持分を評価します。

評価の前提と確認

運用手数料と成功報酬を別々に予測し、既存の未収報酬と将来の新規報酬が重ならないよう計算します。

資本コストの前提

資本コスト: 11.00%
carry_risk_discount_rate: 0.16
k_policy: Nominal EUR 11% judgmental equity capital cost with business-model cyclicality, valuation and acquisition risk; same k for 5 scenarios, extra 5pp for risky carry franchise. Not inferred from market PE.
terminal_growth_policy: scenario-specific long-term cash growth strictly below k; market valuation multiples not used

事業別データ

事業別の内訳と、収録されている年度別データを確認できます。

事業別データを開く →

10年のシナリオ

シナリオごとの確率、期間内の株主還元・追加負担、終価です。金額は億EUR。株主の範囲や受取時点は各分析の前提を確認してください。

シナリオ	確率	株主還元・追加負担	終価
強気	12.0%	99.04	348.60
やや強気	20.0%	85.95	244.31
中立	36.0%	75.74	179.17
やや弱気	22.0%	58.05	77.05
弱気	10.0%	36.53	21.40

強気（確率 12.0%）

投資環境・運用資産・成功報酬・持分希薄化に関する仮定

確率の根拠

ケース確率は分析上の仮定です。

事業別の前提

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名称: 手数料・成功報酬・投資収益（連結合計）
数量: 1
価格・単価: 61.144390155937
営業利益: 未確認

日付別キャッシュフロー

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想定日: 2026-11-24
year: 0.049281314168
金額: 0
種類: possible_private_equity_deep_dive_recheck
date_status: scenario_assumption
出典: company_reports_calendar_needs_refresh
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

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想定日: 2026-12-15
year: 0.106776180698
金額: 0
種類: sbc_existing_share_delivery_recheck
date_status: scenario_assumption
new_ordinary_shares: 0
employee_SIF_financing_unverified: はい
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

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想定日: 2027-01-15
year: 0.191649555099
金額: 0
種類: fund_x_formal_launch_date_proxy
date_status: scenario_assumption
出典: Q3_2026_issuer_activity_month_only
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

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想定日: 2027-01-28
year: 0.227241615332
金額: 0
種類: scheduled_2026_activity_publication
date_status: company_announced_schedule
出典: company_calendar_or_assumed_month
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

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想定日: 2027-03-09
year: 0.336755646817
金額: 0
種類: scheduled_2026_financial_results
date_status: company_announced_schedule
出典: company_calendar_or_assumed_month
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

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想定日: 2027-03-09
year: 0.336755646817
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.265
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

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想定日: 2027-04-29
year: 0.476386036961
金額: 0
種類: scheduled_Q1_activity
date_status: company_announced_schedule
出典: company_calendar_or_assumed_month
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

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想定日: 2027-04-30
year: 0.479123887748
金額: 0.9
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 0.9
buyback_class: within_350m_old_2026_program_assumed
buyback_execution_price_eur_assumed: 15.201401
company_cash_paid_oku: 0.9
issuer_shares_cancelled: 5920506.942
old_holder_shares_tendered: 5920506.942
old_holder_fraction_pre_buyback: 1
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-05-12
year: 0.511978097194
金額: 0
種類: share_buyback_program_2026_end_by_date
date_status: scenario_assumption
出典: FY2025_issuer_release
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-05-14
year: 0.517453798768
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.265
record_date: 2027-05-17
payment_date: 2027-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1036646966.058
issued_shares_eligible_at_ex_date: 1036646966.058
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-05-17
year: 0.525667351129
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-06-11
year: 0.594113620808
金額: 2.74711446
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2027-05-14
assumed_dps_eur: 0.265
company_dividend_cash_outflow_oku: 2.74711446
old_holder_remaining_shares_today: 1036646966.058
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-06-15
year: 0.605065023956
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-07-01
year: 0.64887063655
金額: 0
種類: dif_39_percent_part_1_share_settlement_non_cash
date_status: scenario_assumption
new_ordinary_shares: 16522500
forward_liability_settlement_oku: 2.1
nci_equity_reclass_oku: 0.895
old_holder_fraction_after_share_settlement: 0.984311641637
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-07-30
year: 0.728268309377
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.2915
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-08-20
year: 0.785763175907
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.2915
record_date: 2027-08-23
payment_date: 2027-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1036646966.058
issued_shares_eligible_at_ex_date: 1053169466.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-08-23
year: 0.793976728268
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2027-09-15
year: 0.856947296372
金額: 3.021825906
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2027-08-20
assumed_dps_eur: 0.2915
company_dividend_cash_outflow_oku: 3.069988994
old_holder_remaining_shares_today: 1036646966.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2028-03-09
year: 1.338809034908
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.28832
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2028-05-12
year: 1.514031485284
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.28832
record_date: 2028-05-15
payment_date: 2028-06-12
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1036646966.058
issued_shares_eligible_at_ex_date: 1053169466.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2028-05-15
year: 1.522245037645
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2028-06-12
year: 1.598904859685
金額: 2.988860533
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2028-05-12
assumed_dps_eur: 0.28832
company_dividend_cash_outflow_oku: 3.036498205
old_holder_remaining_shares_today: 1036646966.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

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想定日: 2028-06-14
year: 1.604380561259
金額: 0.274149002
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.2785185
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1603625.93
SIF_share_purchase_quantity: 1629185.171
SIF_purchase_execution_price_eur_assumed: 17.0955705
external_shares_outside_cohort_before_trade_raw: 16522500
external_coverage_raw_unrestricted_stock_multiple: 10.141573
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.2785185
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1035043340.128

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想定日: 2028-06-15
year: 1.607118412047
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1035043340.128

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想定日: 2028-07-01
year: 1.650924024641
金額: 0
種類: marathon_subco_units_to_ordinary_share_exchange_non_cash
date_status: scenario_assumption
new_ordinary_shares: 45000000
nci_equity_reclass_oku: 6
old_holder_fraction_after_share_settlement: 0.942516954003
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

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想定日: 2028-07-31
year: 1.733059548255
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.317152
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

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想定日: 2028-08-18
year: 1.782340862423
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.317152
record_date: 2028-08-21
payment_date: 2028-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1035043340.128
issued_shares_eligible_at_ex_date: 1098169466.058
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

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想定日: 2028-08-21
year: 1.790554414784
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

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想定日: 2028-09-15
year: 1.859000684463
金額: 3.282660654
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2028-08-18
assumed_dps_eur: 0.317152
company_dividend_cash_outflow_oku: 3.482866425
old_holder_remaining_shares_today: 1035043340.128
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

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想定日: 2028-10-13
year: 1.935660506502
金額: 1.131020345
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.2
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 17.6969406
company_cash_paid_oku: 1.2
issuer_shares_cancelled: 6780833.069
old_holder_shares_tendered: 6391050.13
old_holder_fraction_pre_buyback: 0.942516954003
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-03-09
year: 2.338124572211
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.31369216
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-05-14
year: 2.518822724162
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.31369216
record_date: 2029-05-15
payment_date: 2029-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1028652289.998
issued_shares_eligible_at_ex_date: 1091388632.989
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-05-15
year: 2.521560574949
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-06-11
year: 2.595482546201
金額: 3.226801587
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2029-05-14
assumed_dps_eur: 0.31369216
company_dividend_cash_outflow_oku: 3.423600577
old_holder_remaining_shares_today: 1028652289.998
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-06-14
year: 2.603696098563
金額: 0.271696202
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.288266647
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1431884.578
SIF_share_purchase_quantity: 1519213.604
SIF_purchase_execution_price_eur_assumed: 18.9747279
external_shares_outside_cohort_before_trade_raw: 62736342.991
external_coverage_raw_unrestricted_stock_multiple: 41.295275
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.288266647
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-06-15
year: 2.60643394935
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-01
year: 2.650239561944
金額: 0
種類: dif_39_percent_part_2_share_settlement_non_cash
date_status: scenario_assumption
new_ordinary_shares: 16522500
forward_liability_settlement_oku: 2.1
nci_equity_reclass_oku: 0.895
old_holder_fraction_after_share_settlement: 0.927168592167
ordinary_issued_after_event: 1107911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-01
year: 2.650239561944
金額: 0
種類: marathon_earnout_new_subco_exchange_non_cash
date_status: scenario_assumption
new_ordinary_shares: 11000000
non_cash_goodwill_eur_oku: 2.097382932
old_holder_fraction_after_share_settlement: 0.918053610456
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-01
year: 2.650239561944
金額: 0
種類: marathon_earnout_cash_payment_to_sellers_not_old_holder
date_status: scenario_assumption
company_cash_outflow_oku: 1.7
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-30
year: 2.729637234771
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.345061376
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-08-20
year: 2.7871321013
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.345061376
record_date: 2029-08-21
payment_date: 2029-09-17
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1027220405.42
issued_shares_eligible_at_ex_date: 1118911132.989
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-08-21
year: 2.789869952088
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-09-17
year: 2.86379192334
金額: 3.544540865
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2029-08-20
assumed_dps_eur: 0.345061376
company_dividend_cash_outflow_oku: 3.860930152
old_holder_remaining_shares_today: 1027220405.42
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-10-15
year: 2.94045174538
金額: 1.124615673
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.225
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 19.6534286
company_cash_paid_oku: 1.225
issuer_shares_cancelled: 6233009.139
old_holder_shares_tendered: 5722236.544
old_holder_fraction_pre_buyback: 0.918053610456
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

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想定日: 2030-03-11
year: 3.342915811088
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.34129707
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

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想定日: 2030-05-14
year: 3.518138261465
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.34129707
record_date: 2030-05-15
payment_date: 2030-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1021498168.876
issued_shares_eligible_at_ex_date: 1112678123.85
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

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想定日: 2030-05-15
year: 3.520876112252
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

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想定日: 2030-06-11
year: 3.594798083504
金額: 3.48634332
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2030-05-14
assumed_dps_eur: 0.34129707
company_dividend_cash_outflow_oku: 3.797537835
old_holder_remaining_shares_today: 1021498168.876
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

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想定日: 2030-06-14
year: 3.603011635866
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

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想定日: 2030-06-14
year: 3.603011635866
金額: 0.273906785
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.29835598
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1300574.627
SIF_share_purchase_quantity: 1416665.227
SIF_purchase_execution_price_eur_assumed: 21.0604435
external_shares_outside_cohort_before_trade_raw: 91179954.974
external_coverage_raw_unrestricted_stock_multiple: 64.362387
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.29835598
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

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想定日: 2030-07-30
year: 3.728952772074
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.375426777
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

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想定日: 2030-08-20
year: 3.786447638604
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.375426777
record_date: 2030-08-21
payment_date: 2030-09-16
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1020197594.249
issued_shares_eligible_at_ex_date: 1112678123.85
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

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想定日: 2030-08-21
year: 3.789185489391
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

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想定日: 2030-09-16
year: 3.860369609856
金額: 3.830094947
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2030-08-20
assumed_dps_eur: 0.375426777
company_dividend_cash_outflow_oku: 4.177291619
old_holder_remaining_shares_today: 1020197594.249
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

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想定日: 2030-10-15
year: 3.939767282683
金額: 1.146105927
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.25
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 21.8137475
company_cash_paid_oku: 1.25
issuer_shares_cancelled: 5730331.294
old_holder_shares_tendered: 5254053.329
old_holder_fraction_pre_buyback: 0.916884741761
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

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想定日: 2031-03-10
year: 4.339493497604
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.371331212
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

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想定日: 2031-05-14
year: 4.517453798768
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.371331212
record_date: 2031-05-15
payment_date: 2031-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1014943540.92
issued_shares_eligible_at_ex_date: 1106947792.556
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

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想定日: 2031-05-15
year: 4.520191649555
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

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想定日: 2031-06-11
year: 4.594113620808
金額: 3.768802152
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2031-05-14
assumed_dps_eur: 0.371331212
company_dividend_cash_outflow_oku: 4.110442654
old_holder_remaining_shares_today: 1014943540.92
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

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想定日: 2031-06-13
year: 4.599589322382
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

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想定日: 2031-06-13
year: 4.599589322382
金額: 0.283132577
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.308798439
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1211586.595
SIF_share_purchase_quantity: 1321416.466
SIF_purchase_execution_price_eur_assumed: 23.3687446
external_shares_outside_cohort_before_trade_raw: 92004251.635
external_coverage_raw_unrestricted_stock_multiple: 69.625477
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.308798439
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

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想定日: 2031-07-30
year: 4.728268309377
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.408464333
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

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想定日: 2031-08-20
year: 4.785763175907
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.408464333
record_date: 2031-08-21
payment_date: 2031-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1013731954.325
issued_shares_eligible_at_ex_date: 1106947792.556
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

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想定日: 2031-08-21
year: 4.788501026694
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

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想定日: 2031-09-15
year: 4.856947296372
金額: 4.140733466
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2031-08-20
assumed_dps_eur: 0.408464333
company_dividend_cash_outflow_oku: 4.521486918
old_holder_remaining_shares_today: 1013731954.325
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

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想定日: 2031-10-15
year: 4.939082819986
金額: 1.236316787
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.35
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 24.2115302
company_cash_paid_oku: 1.35
issuer_shares_cancelled: 5575855.748
old_holder_shares_tendered: 5106314.121
old_holder_fraction_pre_buyback: 0.91579021264
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-03-09
year: 5.338809034908
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.404008359
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-05-14
year: 5.519507186858
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.404008359
record_date: 2032-05-17
payment_date: 2032-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1008625640.205
issued_shares_eligible_at_ex_date: 1101371936.808
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-05-17
year: 5.52772073922
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-06-11
year: 5.596167008898
金額: 4.074931897
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2032-05-14
assumed_dps_eur: 0.404008359
company_dividend_cash_outflow_oku: 4.449634688
old_holder_remaining_shares_today: 1008625640.205
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-06-14
year: 5.604380561259
金額: 0.292692399
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.319606385
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1127809.972
SIF_share_purchase_quantity: 1231515.643
SIF_purchase_execution_price_eur_assumed: 25.9522798
external_shares_outside_cohort_before_trade_raw: 92746296.603
external_coverage_raw_unrestricted_stock_multiple: 75.310693
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.319606385
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-06-15
year: 5.607118412047
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-07-30
year: 5.730321697467
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.444409195
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-08-20
year: 5.787816563997
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.444409195
record_date: 2032-08-23
payment_date: 2032-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1007497830.232
issued_shares_eligible_at_ex_date: 1101371936.808
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-08-23
year: 5.796030116359
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-09-15
year: 5.859000684463
金額: 4.477412997
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2032-08-20
assumed_dps_eur: 0.444409195
company_dividend_cash_outflow_oku: 4.894598158
old_holder_remaining_shares_today: 1007497830.232
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-10-15
year: 5.941136208077
金額: 1.253458397
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.37025
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 26.8805582
company_cash_paid_oku: 1.37025
issuer_shares_cancelled: 5097550.389
old_holder_shares_tendered: 4663066.84
old_holder_fraction_pre_buyback: 0.914766208001
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

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想定日: 2033-03-09
year: 6.338124572211
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.439561095
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

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想定日: 2033-05-13
year: 6.516084873374
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.439561095
record_date: 2033-05-16
payment_date: 2033-06-13
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1002834763.392
issued_shares_eligible_at_ex_date: 1096274386.419
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

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想定日: 2033-05-16
year: 6.524298425736
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

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想定日: 2033-06-13
year: 6.600958247775
金額: 4.408071467
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2033-05-13
assumed_dps_eur: 0.439561095
company_dividend_cash_outflow_oku: 4.818795697
old_holder_remaining_shares_today: 1002834763.392
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

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想定日: 2033-06-14
year: 6.603696098563
金額: 0.3025979
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.330792608
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1050505.76
SIF_share_purchase_quantity: 1148387.152
SIF_purchase_execution_price_eur_assumed: 28.8049729
external_shares_outside_cohort_before_trade_raw: 93439623.026
external_coverage_raw_unrestricted_stock_multiple: 81.36596
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.330792608
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

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想定日: 2033-06-15
year: 6.60643394935
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

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想定日: 2033-08-01
year: 6.735112936345
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.483517204
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

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想定日: 2033-08-19
year: 6.784394250513
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.483517204
record_date: 2033-08-22
payment_date: 2033-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1001784257.632
issued_shares_eligible_at_ex_date: 1096274386.419
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

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想定日: 2033-08-22
year: 6.792607802875
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

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想定日: 2033-09-15
year: 6.858316221766
金額: 4.843799233
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2033-08-19
assumed_dps_eur: 0.483517204
company_dividend_cash_outflow_oku: 5.300675261
old_holder_remaining_shares_today: 1001784257.632
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

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想定日: 2033-10-14
year: 6.937713894593
金額: 1.270927534
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.39080375
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 29.826765
company_cash_paid_oku: 1.39080375
issuer_shares_cancelled: 4662938.638
old_holder_shares_tendered: 4261030.431
old_holder_fraction_pre_buyback: 0.913807957244
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

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想定日: 2034-03-09
year: 7.337440109514
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.478242471
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

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想定日: 2034-05-12
year: 7.51266255989
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.478242471
record_date: 2034-05-15
payment_date: 2034-06-12
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 997523227.201
issued_shares_eligible_at_ex_date: 1091611447.781
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

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想定日: 2034-05-15
year: 7.520876112252
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

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想定日: 2034-06-12
year: 7.597535934292
金額: 4.770579731
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2034-05-12
assumed_dps_eur: 0.478242471
company_dividend_cash_outflow_oku: 5.220549562
old_holder_remaining_shares_today: 997523227.201
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

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想定日: 2034-06-14
year: 7.603011635866
金額: 0.31286075
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.34237035
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 978569.452
SIF_share_purchase_quantity: 1070869.918
SIF_purchase_execution_price_eur_assumed: 31.9712361
external_shares_outside_cohort_before_trade_raw: 94088220.58
external_coverage_raw_unrestricted_stock_multiple: 87.861484
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.34237035
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

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想定日: 2034-06-15
year: 7.605749486653
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

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想定日: 2034-07-31
year: 7.731690622861
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.526066718
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

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想定日: 2034-08-18
year: 7.780971937029
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.526066718
record_date: 2034-08-21
payment_date: 2034-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 996544657.749
issued_shares_eligible_at_ex_date: 1091611447.781
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

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想定日: 2034-08-21
year: 7.789185489391
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

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想定日: 2034-09-15
year: 7.857631759069
金額: 5.242489774
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2034-08-18
assumed_dps_eur: 0.526066718
company_dividend_cash_outflow_oku: 5.742604517
old_holder_remaining_shares_today: 996544657.749
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

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想定日: 2034-10-13
year: 7.934291581109
金額: 1.288725966
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.411665806
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 33.0958868
company_cash_paid_oku: 1.411665806
issuer_shares_cancelled: 4265381.424
old_holder_shares_tendered: 3893915.806
old_holder_fraction_pre_buyback: 0.912911512402
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

100

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想定日: 2035-03-09
year: 8.336755646817
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.520327808
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

101

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想定日: 2035-05-14
year: 8.517453798768
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.520327808
record_date: 2035-05-15
payment_date: 2035-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 992650741.943
issued_shares_eligible_at_ex_date: 1087346066.357
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

102

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想定日: 2035-05-15
year: 8.520191649555
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

103

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想定日: 2035-06-11
year: 8.594113620808
金額: 5.165037847
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2035-05-14
assumed_dps_eur: 0.520327808
company_dividend_cash_outflow_oku: 5.657763952
old_holder_remaining_shares_today: 992650741.943
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

104

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想定日: 2035-06-14
year: 8.602327173169
金額: 0.323493218
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.354353312
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 911619.896
SIF_share_purchase_quantity: 998585.168
SIF_purchase_execution_price_eur_assumed: 35.4855373
external_shares_outside_cohort_before_trade_raw: 94695324.415
external_coverage_raw_unrestricted_stock_multiple: 94.829492
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.354353312
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

105

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想定日: 2035-06-15
year: 8.605065023956
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

106

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想定日: 2035-07-30
year: 8.728268309377
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.572360589
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

107

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想定日: 2035-08-20
year: 8.785763175907
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.572360589
record_date: 2035-08-21
payment_date: 2035-09-17
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 991739122.046
issued_shares_eligible_at_ex_date: 1087346066.357
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

108

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想定日: 2035-08-21
year: 8.788501026694
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

109

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想定日: 2035-09-17
year: 8.862422997947
金額: 5.67632388
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2035-08-20
assumed_dps_eur: 0.572360589
company_dividend_cash_outflow_oku: 6.22354035
old_holder_remaining_shares_today: 991739122.046
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

110

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想定日: 2035-10-15
year: 8.939082819986
金額: 1.306855576
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.432840793
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 36.7548076
company_cash_paid_oku: 1.432840793
issuer_shares_cancelled: 3898376.527
old_holder_shares_tendered: 3555604.452
old_holder_fraction_pre_buyback: 0.91207312256
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

111

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想定日: 2036-03-10
year: 9.341546885695
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.566116655
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

112

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想定日: 2036-05-14
year: 9.519507186858
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.566116655
record_date: 2036-05-15
payment_date: 2036-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 988183517.594
issued_shares_eligible_at_ex_date: 1083447689.83
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

113

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想定日: 2036-05-15
year: 9.522245037645
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

114

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想定日: 2036-06-11
year: 9.596167008898
金額: 5.594271475
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2036-05-14
assumed_dps_eur: 0.566116655
company_dividend_cash_outflow_oku: 6.13357782
old_holder_remaining_shares_today: 988183517.594
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

115

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想定日: 2036-06-13
year: 9.601642710472
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

116

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想定日: 2036-06-13
year: 9.601642710472
金額: 0.284240402
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.31164212
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 721676.338
SIF_share_purchase_quantity: 791248.333
SIF_purchase_execution_price_eur_assumed: 39.3861329
external_shares_outside_cohort_before_trade_raw: 95264172.236
external_coverage_raw_unrestricted_stock_multiple: 120.397312
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.31164212
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

117

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想定日: 2036-07-30
year: 9.730321697467
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.622728321
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

118

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想定日: 2036-08-20
year: 9.787816563997
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.622728321
record_date: 2036-08-21
payment_date: 2036-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 987461841.256
issued_shares_eligible_at_ex_date: 1083447689.83
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

119

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想定日: 2036-08-21
year: 9.790554414784
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

120

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想定日: 2036-09-15
year: 9.859000684463
金額: 6.149204545
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2036-08-20
assumed_dps_eur: 0.622728321
company_dividend_cash_outflow_oku: 6.746935608
old_holder_remaining_shares_today: 987461841.256
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

121

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想定日: 2036-10-15
year: 9.941136208077
金額: 1.325489689
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.454333405
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 40.80658
company_cash_paid_oku: 1.454333405
issuer_shares_cancelled: 3563967.879
old_holder_shares_tendered: 3248225.38
old_holder_fraction_pre_buyback: 0.911407030099
ordinary_issued_after_event: 1079883721.951
old_cohort_shares_after_event: 984213615.876

その他の数値・前提

scenario

bull

label_jp

強気

assumptions

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growth

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1: 0.11
2: 0.265
3: 0.13
4: 0.088

take

0.0095

margins

1: 0.56
2: 0.585
3: 0.595

carry

1.48

invest_return

0.11

partner_comp

0.53

carry_cash

0.95

dividend_growth

0.088

div_mult

1.06

buybacks

1: 0.9
2: 1.2
3: 1.35

mincash

buy_price_growth

0.11

maint

0.28

gp_net

0.58

terminal_g

0.034

terminal_carry_g

0.025

gp_nav_haircut

1.04

carry_recv_haircut

0.86

marathon_units

45000000

earnout_units

11000000

earnout_cash

1.7

Marathon_initial_subco_34m_reference_component_subject_to_closing_adjustments_not_guaranteed_floor

34000000

Marathon_initial_subco_FY2027_performance_adjustable_additional_assumed_ordinary_equiv

11000000

Marathon_initial_subco_contract_max_units

45000000

Marathon_additional_earnout_contract_max_units

11000000

Marathon_ordinary_share_exchange_dates_are_unannounced_scenario_assumptions

はい

期間内の親会社利益合計（億）

179.117887013

期間内株主受取

99.042185865

終価

348.603426573

net_sum

179.117887013

payout

99.042185865

mcap

348.603426573

annual_ledger

内容を開く

period_id

2026_postcutoff_55days

fiscal_year

2026

period_start

2026-11-07

期間末

2026-12-31

opening_balance_date

2026-11-06

period_days

full_year_day_denominator

365

fraction_of_fiscal_year

0.150684931507

data_status

scenario_forecast_partial_period

business_driver

内容を開く

fpaum_opening_billion_eur: 176.6
fpaum_closing_billion_eur: 176.6
effective_management_fee_rate_assumed: 0.00915
annualized_fee_related_revenue_oku: 15.6
annualized_gross_carry_oku: 3.5
annualized_gross_investment_income_oku: 1.46
fee_operating_margin_before_sbc_assumed: 0.565

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 2.350684932
gross_carried_interest_performance_revenue: 0.52739726
investment_income_including_fund_nci: 0.22
other_operating_income: 0.004520548
ifrs_total_revenue: 3.10260274
fee_related_cash_operating_cost_excluding_sbc: 1.022547945
performance_linked_personnel_cost: 0.305890411
sbc_expense_left_in_ifrs_profit: 0.039178082
earnings_before_depreciation_finance_and_tax: 1.734986301
depreciation_and_amortization: 0.268219178
ifrs_operating_profit: 1.466767123
net_finance_expense: 0.069315068
ifrs_profit_before_tax: 1.397452055
cash_and_deferred_tax_expense_assumption: 0.25154137
ifrs_consolidated_profit: 1.145910685
nci_profit_fund_investments: 0.0968
nci_profit_dif_remaining_interest: 0.013561644
nci_profit_marathon_subco: 0.051232877
ifrs_noncontrolling_profit_total: 0.161594521
ifrs_parent_attributable_profit_after_sbc: 0.984316164
ifrs_parent_profit_annualized_for_comparison: 6.53228

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 1.145910685
noncash_sbc_addback_to_company_cash_only: 0.039178082
noncash_DA_addback_to_company_cash: 0.268219178
unrealized_investment_gains_removed_from_cash: 0.22
carry_income_recognized_in_ifrs: 0.52739726
assumed_carry_cash_collected: 0.464109589
carry_current_year_accrual_cash_collected_only: 0.464109589
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 0.305890411
carry_tax_component_assumed_paid_on_accrual: 0.039871233
total_income_tax_expense_assumed_paid_as_cash_in_period: 0.25154137
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.063287671
maintenance_cash_capex: 0.036164384
gp_commitment_net_cash_deployment: 0.048219178
consolidated_cash_available_before_distributions_debt: 1.085636712
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 6.15
owner_free_cash_before_holder_and_nci_distributions: 1.085636712
parent_dividend_cash_outflow: 0
issuer_share_repurchase_cash_outflow: 0
noncontrolling_distributions: 0.035636986
noncontrolling_fund_contributions: 0.015068493
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0
restricted_noncontrolling_cash_begin: 0
restricted_noncontrolling_cash_end: 0.036993151
available_parent_cash_end: 7.178075068
debt_cash_repayment: 0
new_debt_cash_drawing: 0
end: 7.215068219

financial_debt_oku

内容を開く

begin: 22.33
debt_drawn_cash: 0
cash_repayment: 0
end: 22.33
net_debt_end: 15.114931781

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 10.47
owner_gp_investment_NAV_end: 10.634186301
owner_share_investment_fv_gain: 0.1232
owner_share_gp_new_investment_cash: 0.040986301
nci_owned_investment_NAV_begin: 7.78
nci_owned_investment_NAV_end: 7.884032877
nci_share_investment_fv_gain: 0.0968
nci_share_gp_new_investment_cash: 0.007232877
accrued_carry_receivable_begin: 2.4
accrued_carry_receivable_end: 2.463287671
dif_forward_liability_begin: 4.2
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 4.2
other_net_assets_minus_other_net_liabilities_proxy_end: 28.167945205

親会社持分（億）

内容を開く

begin: 16
parent_ifrs_net_profit: 0.984316164
equity_settled_SBC_credit_noncash: 0.039178082
cash_dividends_declared_and_assumed_paid: 0
company_cash_buybacks: 0
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0
end: 17.023494247

noncontrolling_equity_oku

内容を開く

begin: 12.67
noncontrolling_net_profit: 0.161594521
distributions_paid: 0.035636986
capital_contributions: 0.015068493
converted_into_parent_equity_noncash: 0
end: 12.811026027

株数

内容を開く

issued_and_outstanding_begin: 1042567473
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 0
issued_and_outstanding_end: 1042567473
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1042567473
old_holder_cohort_shares_pro_rata_tendered: 0
old_holder_cohort_shares_sold_to_company_funded_SIF: 0
old_holder_cohort_shares_end: 1042567473
old_holder_fraction_end: 1

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 0
pro_rata_tender_cash_to_original_shareholder_cohort: 0
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0
total_cash_to_original_shareholder_cohort: 0

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 0
company_buybacks_oku: 0
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 2.4
IFRS_company_carry_recognized: 0.52739726
same_vintage_cash_collected: 0.464109589
prior_vintage_collection_modeled: 0
carry_receivable_end: 2.463287671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 0.305890411
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.039871233
other_corporate_income_tax_assumed_cash_paid: 0.211670137
total_company_tax_model_assumed_cash_paid: 0.25154137
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2026-11-24
year: 0.049281314168
金額: 0
種類: possible_private_equity_deep_dive_recheck
date_status: scenario_assumption
出典: company_reports_calendar_needs_refresh
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

内容を開く

想定日: 2026-12-15
year: 0.106776180698
金額: 0
種類: sbc_existing_share_delivery_recheck
date_status: scenario_assumption
new_ordinary_shares: 0
employee_SIF_financing_unverified: はい
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 15.6
fpaum_end_billion_eur: 176.6
fee_margin_excluding_SBC: 0.565
gross_carry_oku: 3.5
gross_investment_income_oku: 1.46
sbc_annual_oku: 0.26
DA_full_year_oku: 1.78
maintenance_capex_full_year_oku: 0.24
GP_commitment_net_investment_full_year_oku: 0.32

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: 0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

内容を開く

period_id

fy_2027

fiscal_year

2027

period_start

2027-01-01

期間末

2027-12-31

opening_balance_date

2026-12-31

period_days

365

full_year_day_denominator

365

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 176.6
fpaum_closing_billion_eur: 196.026
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 17.699735
annualized_gross_carry_oku: 9.472
annualized_gross_investment_income_oku: 2.03700411
fee_operating_margin_before_sbc_assumed: 0.56

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 17.699735
gross_carried_interest_performance_revenue: 9.472
investment_income_including_fund_nci: 2.03700411
other_operating_income: 0.03
ifrs_total_revenue: 29.23873911
fee_related_cash_operating_cost_excluding_sbc: 7.7878834
performance_linked_personnel_cost: 5.02016
sbc_expense_left_in_ifrs_profit: 0.2691
earnings_before_depreciation_finance_and_tax: 16.16159571
depreciation_and_amortization: 1.75
ifrs_operating_profit: 14.41159571
net_finance_expense: 0.627979181
ifrs_profit_before_tax: 13.783616528
cash_and_deferred_tax_expense_assumption: 2.756723306
ifrs_consolidated_profit: 11.026893223
nci_profit_fund_investments: 0.896281808
nci_profit_dif_remaining_interest: 0.055
nci_profit_marathon_subco: 0.34
ifrs_noncontrolling_profit_total: 1.291281808
ifrs_parent_attributable_profit_after_sbc: 9.735611414
ifrs_parent_profit_annualized_for_comparison: 9.735611414

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 11.026893223
noncash_sbc_addback_to_company_cash_only: 0.2691
noncash_DA_addback_to_company_cash: 1.75
unrealized_investment_gains_removed_from_cash: 2.03700411
carry_income_recognized_in_ifrs: 9.472
assumed_carry_cash_collected: 8.9984
carry_current_year_accrual_cash_collected_only: 8.9984
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 5.02016
carry_tax_component_assumed_paid_on_accrual: 0.890368
total_income_tax_expense_assumed_paid_as_cash_in_period: 2.756723306
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.4736
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 9.675389113
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 7.215068219
owner_free_cash_before_holder_and_nci_distributions: 9.675389113
parent_dividend_cash_outflow: 5.817103454
issuer_share_repurchase_cash_outflow: 0.9
noncontrolling_distributions: 0.21725
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0
restricted_noncontrolling_cash_begin: 0.036993151
restricted_noncontrolling_cash_end: 0.227743151
available_parent_cash_end: 9.478360728
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 9.706103879

financial_debt_oku

内容を開く

begin: 22.33
debt_drawn_cash: 0
cash_repayment: 0.35
end: 21.98
net_debt_end: 12.273896121

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 10.634186301
owner_gp_investment_NAV_end: 12.267908603
owner_share_investment_fv_gain: 1.140722301
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 7.884032877
nci_owned_investment_NAV_end: 8.867314685
nci_share_investment_fv_gain: 0.896281808
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 2.463287671
accrued_carry_receivable_end: 2.936887671
dif_forward_liability_begin: 4.2
dif_forward_liability_non_cash_settlement: 2.1
dif_forward_liability_end: 2.1
other_net_assets_minus_other_net_liabilities_proxy_end: 26.697945205

親会社持分（億）

内容を開く

begin: 17.023494247
parent_ifrs_net_profit: 9.735611414
equity_settled_SBC_credit_noncash: 0.2691
cash_dividends_declared_and_assumed_paid: 5.817103454
company_cash_buybacks: 0.9
reclassification_from_acquired_nci: 0.895
dif_forward_liability_settled_into_equity_noncash: 2.1
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0
end: 23.306102207

noncontrolling_equity_oku

内容を開く

begin: 12.811026027
noncontrolling_net_profit: 1.291281808
distributions_paid: 0.21725
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0.895
end: 13.090057836

株数

内容を開く

issued_and_outstanding_begin: 1042567473
new_ordinary_shares_for_dif_marathon: 16522500
issuer_bought_and_cancelled: 5920506.942
issued_and_outstanding_end: 1053169466.058
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1042567473
old_holder_cohort_shares_pro_rata_tendered: 5920506.942
old_holder_cohort_shares_sold_to_company_funded_SIF: 0
old_holder_cohort_shares_end: 1036646966.058
old_holder_fraction_end: 0.984311641637

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 5.768940366
pro_rata_tender_cash_to_original_shareholder_cohort: 0.9
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0
total_cash_to_original_shareholder_cohort: 6.668940366

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 5.817103454
company_buybacks_oku: 0.9
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 2.463287671
IFRS_company_carry_recognized: 9.472
same_vintage_cash_collected: 8.9984
prior_vintage_collection_modeled: 0
carry_receivable_end: 2.936887671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 5.02016
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.890368
other_corporate_income_tax_assumed_cash_paid: 1.866355306
total_company_tax_model_assumed_cash_paid: 2.756723306
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2027-01-15
year: 0.191649555099
金額: 0
種類: fund_x_formal_launch_date_proxy
date_status: scenario_assumption
出典: Q3_2026_issuer_activity_month_only
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

内容を開く

想定日: 2027-01-28
year: 0.227241615332
金額: 0
種類: scheduled_2026_activity_publication
date_status: company_announced_schedule
出典: company_calendar_or_assumed_month
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

内容を開く

想定日: 2027-03-09
year: 0.336755646817
金額: 0
種類: scheduled_2026_financial_results
date_status: company_announced_schedule
出典: company_calendar_or_assumed_month
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

内容を開く

想定日: 2027-03-09
year: 0.336755646817
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.265
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

内容を開く

想定日: 2027-04-29
year: 0.476386036961
金額: 0
種類: scheduled_Q1_activity
date_status: company_announced_schedule
出典: company_calendar_or_assumed_month
ordinary_issued_after_event: 1042567473
old_cohort_shares_after_event: 1042567473

内容を開く

想定日: 2027-04-30
year: 0.479123887748
金額: 0.9
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 0.9
buyback_class: within_350m_old_2026_program_assumed
buyback_execution_price_eur_assumed: 15.201401
company_cash_paid_oku: 0.9
issuer_shares_cancelled: 5920506.942
old_holder_shares_tendered: 5920506.942
old_holder_fraction_pre_buyback: 1
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-05-12
year: 0.511978097194
金額: 0
種類: share_buyback_program_2026_end_by_date
date_status: scenario_assumption
出典: FY2025_issuer_release
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-05-14
year: 0.517453798768
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.265
record_date: 2027-05-17
payment_date: 2027-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1036646966.058
issued_shares_eligible_at_ex_date: 1036646966.058
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-05-17
year: 0.525667351129
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-06-11
year: 0.594113620808
金額: 2.74711446
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2027-05-14
assumed_dps_eur: 0.265
company_dividend_cash_outflow_oku: 2.74711446
old_holder_remaining_shares_today: 1036646966.058
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-06-15
year: 0.605065023956
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1036646966.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-07-01
year: 0.64887063655
金額: 0
種類: dif_39_percent_part_1_share_settlement_non_cash
date_status: scenario_assumption
new_ordinary_shares: 16522500
forward_liability_settlement_oku: 2.1
nci_equity_reclass_oku: 0.895
old_holder_fraction_after_share_settlement: 0.984311641637
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-07-30
year: 0.728268309377
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.2915
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-08-20
year: 0.785763175907
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.2915
record_date: 2027-08-23
payment_date: 2027-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1036646966.058
issued_shares_eligible_at_ex_date: 1053169466.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-08-23
year: 0.793976728268
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2027-09-15
year: 0.856947296372
金額: 3.021825906
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2027-08-20
assumed_dps_eur: 0.2915
company_dividend_cash_outflow_oku: 3.069988994
old_holder_remaining_shares_today: 1036646966.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 17.699735
fpaum_end_billion_eur: 196.026
fee_margin_excluding_SBC: 0.56
gross_carry_oku: 9.472
gross_investment_income_oku: 2.03700411
sbc_annual_oku: 0.2691
DA_full_year_oku: 1.75
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: 0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: -0

内容を開く

period_id

fy_2028

fiscal_year

2028

period_start

2028-01-01

期間末

2028-12-31

opening_balance_date

2027-12-31

period_days

366

full_year_day_denominator

366

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 196.026
fpaum_closing_billion_eur: 247.97289
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 21.089947275
annualized_gross_carry_oku: 17.464
annualized_gross_investment_income_oku: 2.324874562
fee_operating_margin_before_sbc_assumed: 0.585

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 21.089947275
gross_carried_interest_performance_revenue: 17.464
investment_income_including_fund_nci: 2.324874562
other_operating_income: 0.03
ifrs_total_revenue: 40.908821837
fee_related_cash_operating_cost_excluding_sbc: 8.752328119
performance_linked_personnel_cost: 9.25592
sbc_expense_left_in_ifrs_profit: 0.2785185
earnings_before_depreciation_finance_and_tax: 22.622055218
depreciation_and_amortization: 1.771
ifrs_operating_profit: 20.851055218
net_finance_expense: 0.586886753
ifrs_profit_before_tax: 20.264168464
cash_and_deferred_tax_expense_assumption: 4.052833693
ifrs_consolidated_profit: 16.211334771
nci_profit_fund_investments: 1.022944807
nci_profit_dif_remaining_interest: 0.045
nci_profit_marathon_subco: 0.17
ifrs_noncontrolling_profit_total: 1.237944807
ifrs_parent_attributable_profit_after_sbc: 14.973389964
ifrs_parent_profit_annualized_for_comparison: 14.973389964

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 16.211334771
noncash_sbc_addback_to_company_cash_only: 0.2785185
noncash_DA_addback_to_company_cash: 1.771
unrealized_investment_gains_removed_from_cash: 2.324874562
carry_income_recognized_in_ifrs: 17.464
assumed_carry_cash_collected: 16.5908
carry_current_year_accrual_cash_collected_only: 16.5908
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 9.25592
carry_tax_component_assumed_paid_on_accrual: 1.641616
total_income_tax_expense_assumed_paid_as_cash_in_period: 4.052833693
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.8732
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 14.20277871
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 9.706103879
owner_free_cash_before_holder_and_nci_distributions: 14.20277871
parent_dividend_cash_outflow: 6.51936463
issuer_share_repurchase_cash_outflow: 1.2
noncontrolling_distributions: 0.11825
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.2785185
restricted_noncontrolling_cash_begin: 0.227743151
restricted_noncontrolling_cash_end: 0.337493151
available_parent_cash_end: 15.205256308
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 15.542749459

financial_debt_oku

内容を開く

begin: 21.98
debt_drawn_cash: 0
cash_repayment: 0.35
end: 21.63
net_debt_end: 6.087250541

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 12.267908603
owner_gp_investment_NAV_end: 14.062838357
owner_share_investment_fv_gain: 1.301929755
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 8.867314685
nci_owned_investment_NAV_end: 9.977259492
nci_share_investment_fv_gain: 1.022944807
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 2.936887671
accrued_carry_receivable_end: 3.810087671
dif_forward_liability_begin: 2.1
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 2.1
other_net_assets_minus_other_net_liabilities_proxy_end: 25.206945205

親会社持分（億）

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begin: 23.306102207
parent_ifrs_net_profit: 14.973389964
equity_settled_SBC_credit_noncash: 0.2785185
cash_dividends_declared_and_assumed_paid: 6.51936463
company_cash_buybacks: 1.2
reclassification_from_acquired_nci: 6
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.2785185
end: 36.560127542

noncontrolling_equity_oku

内容を開く

begin: 13.090057836
noncontrolling_net_profit: 1.237944807
distributions_paid: 0.11825
capital_contributions: 0.1
converted_into_parent_equity_noncash: 6
end: 8.309752643

株数

内容を開く

issued_and_outstanding_begin: 1053169466.058
new_ordinary_shares_for_dif_marathon: 45000000
issuer_bought_and_cancelled: 6780833.069
issued_and_outstanding_end: 1091388632.989
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1036646966.058
old_holder_cohort_shares_pro_rata_tendered: 6391050.13
old_holder_cohort_shares_sold_to_company_funded_SIF: 1603625.93
old_holder_cohort_shares_end: 1028652289.998
old_holder_fraction_end: 0.942516954003

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 6.271521187
pro_rata_tender_cash_to_original_shareholder_cohort: 1.131020345
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.274149002
total_cash_to_original_shareholder_cohort: 7.676690534

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 6.51936463
company_buybacks_oku: 1.2
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.2785185

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.2785185
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2028-06-14
purchase_price_eur_assumed: 17.0955705
required_shares: 1629185.171
outsider_shares_raw_before_event: 16522500
raw_coverage_ratio: 10.1415728
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 1603625.93
oldholder_cash_inflow_oku: 0.274149002
oldholder_fraction_pre_SIF: 0.984311641637

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 2.936887671
IFRS_company_carry_recognized: 17.464
same_vintage_cash_collected: 16.5908
prior_vintage_collection_modeled: 0
carry_receivable_end: 3.810087671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 9.25592
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 1.641616
other_corporate_income_tax_assumed_cash_paid: 2.411217693
total_company_tax_model_assumed_cash_paid: 4.052833693
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2028-03-09
year: 1.338809034908
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.28832
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2028-05-12
year: 1.514031485284
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.28832
record_date: 2028-05-15
payment_date: 2028-06-12
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1036646966.058
issued_shares_eligible_at_ex_date: 1053169466.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2028-05-15
year: 1.522245037645
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2028-06-12
year: 1.598904859685
金額: 2.988860533
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2028-05-12
assumed_dps_eur: 0.28832
company_dividend_cash_outflow_oku: 3.036498205
old_holder_remaining_shares_today: 1036646966.058
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1036646966.058

内容を開く

想定日: 2028-06-14
year: 1.604380561259
金額: 0.274149002
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.2785185
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1603625.93
SIF_share_purchase_quantity: 1629185.171
SIF_purchase_execution_price_eur_assumed: 17.0955705
external_shares_outside_cohort_before_trade_raw: 16522500
external_coverage_raw_unrestricted_stock_multiple: 10.141573
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.2785185
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1035043340.128

内容を開く

想定日: 2028-06-15
year: 1.607118412047
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1053169466.058
old_cohort_shares_after_event: 1035043340.128

内容を開く

想定日: 2028-07-01
year: 1.650924024641
金額: 0
種類: marathon_subco_units_to_ordinary_share_exchange_non_cash
date_status: scenario_assumption
new_ordinary_shares: 45000000
nci_equity_reclass_oku: 6
old_holder_fraction_after_share_settlement: 0.942516954003
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

内容を開く

想定日: 2028-07-31
year: 1.733059548255
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.317152
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

内容を開く

想定日: 2028-08-18
year: 1.782340862423
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.317152
record_date: 2028-08-21
payment_date: 2028-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1035043340.128
issued_shares_eligible_at_ex_date: 1098169466.058
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

内容を開く

想定日: 2028-08-21
year: 1.790554414784
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

内容を開く

想定日: 2028-09-15
year: 1.859000684463
金額: 3.282660654
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2028-08-18
assumed_dps_eur: 0.317152
company_dividend_cash_outflow_oku: 3.482866425
old_holder_remaining_shares_today: 1035043340.128
ordinary_issued_after_event: 1098169466.058
old_cohort_shares_after_event: 1035043340.128

内容を開く

想定日: 2028-10-13
year: 1.935660506502
金額: 1.131020345
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.2
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 17.6969406
company_cash_paid_oku: 1.2
issuer_shares_cancelled: 6780833.069
old_holder_shares_tendered: 6391050.13
old_holder_fraction_pre_buyback: 0.942516954003
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 21.089947275
fpaum_end_billion_eur: 247.97289
fee_margin_excluding_SBC: 0.585
gross_carry_oku: 17.464
gross_investment_income_oku: 2.324874562
sbc_annual_oku: 0.2785185
DA_full_year_oku: 1.771
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: -0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

内容を開く

period_id

fy_2029

fiscal_year

2029

period_start

2029-01-01

期間末

2029-12-31

opening_balance_date

2028-12-31

period_days

365

full_year_day_denominator

365

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 247.97289
fpaum_closing_billion_eur: 280.209366
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 25.088657146
annualized_gross_carry_oku: 18.944
annualized_gross_investment_income_oku: 2.644410763
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 25.088657146
gross_carried_interest_performance_revenue: 18.944
investment_income_including_fund_nci: 2.644410763
other_operating_income: 0.03
ifrs_total_revenue: 46.707067909
fee_related_cash_operating_cost_excluding_sbc: 10.160906144
performance_linked_personnel_cost: 10.04032
sbc_expense_left_in_ifrs_profit: 0.288266647
earnings_before_depreciation_finance_and_tax: 26.217575118
depreciation_and_amortization: 1.792252
ifrs_operating_profit: 24.425323118
net_finance_expense: 0.505647006
ifrs_profit_before_tax: 23.919676111
cash_and_deferred_tax_expense_assumption: 4.783935222
ifrs_consolidated_profit: 19.135740889
nci_profit_fund_investments: 1.163540736
nci_profit_dif_remaining_interest: 0.025
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 1.188540736
ifrs_parent_attributable_profit_after_sbc: 17.947200153
ifrs_parent_profit_annualized_for_comparison: 17.947200153

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 19.135740889
noncash_sbc_addback_to_company_cash_only: 0.288266647
noncash_DA_addback_to_company_cash: 1.792252
unrealized_investment_gains_removed_from_cash: 2.644410763
carry_income_recognized_in_ifrs: 18.944
assumed_carry_cash_collected: 17.9968
carry_current_year_accrual_cash_collected_only: 17.9968
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 10.04032
carry_tax_component_assumed_paid_on_accrual: 1.780736
total_income_tax_expense_assumed_paid_as_cash_in_period: 4.783935222
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.9472
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 16.764648773
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 15.542749459
owner_free_cash_before_holder_and_nci_distributions: 16.764648773
parent_dividend_cash_outflow: 7.284530729
issuer_share_repurchase_cash_outflow: 1.225
noncontrolling_distributions: 0.01375
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 1.7
company_funded_SIF_replenishment_total_company_outflow: 0.288266647
restricted_noncontrolling_cash_begin: 0.337493151
restricted_noncontrolling_cash_end: 0.361743151
available_parent_cash_end: 21.184107705
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 21.545850856

financial_debt_oku

内容を開く

begin: 21.63
debt_drawn_cash: 0
cash_repayment: 0.35
end: 21.28
net_debt_end: -0.265850856

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 14.062838357
owner_gp_investment_NAV_end: 16.036708385
owner_share_investment_fv_gain: 1.480870028
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 9.977259492
nci_owned_investment_NAV_end: 11.227800228
nci_share_investment_fv_gain: 1.163540736
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 3.810087671
accrued_carry_receivable_end: 4.757287671
dif_forward_liability_begin: 2.1
dif_forward_liability_non_cash_settlement: 2.1
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 27.492076138

親会社持分（億）

内容を開く

begin: 36.560127542
parent_ifrs_net_profit: 17.947200153
equity_settled_SBC_credit_noncash: 0.288266647
cash_dividends_declared_and_assumed_paid: 7.284530729
company_cash_buybacks: 1.225
reclassification_from_acquired_nci: 0.895
dif_forward_liability_settled_into_equity_noncash: 2.1
earnout_new_share_equity_credit_with_goodwill_noncash: 2.097382932
company_cash_funded_SIF_market_purchase_equity_deduction: 0.288266647
end: 51.090179899

noncontrolling_equity_oku

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begin: 8.309752643
noncontrolling_net_profit: 1.188540736
distributions_paid: 0.01375
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0.895
end: 8.689543379

株数

内容を開く

issued_and_outstanding_begin: 1091388632.989
new_ordinary_shares_for_dif_marathon: 27522500
issuer_bought_and_cancelled: 6233009.139
issued_and_outstanding_end: 1112678123.85
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1028652289.998
old_holder_cohort_shares_pro_rata_tendered: 5722236.544
old_holder_cohort_shares_sold_to_company_funded_SIF: 1431884.578
old_holder_cohort_shares_end: 1021498168.876
old_holder_fraction_end: 0.918053610456

holder_annual_cash_oku

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dividends_to_original_shareholder_cohort: 6.771342452
pro_rata_tender_cash_to_original_shareholder_cohort: 1.124615673
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.271696202
total_cash_to_original_shareholder_cohort: 8.167654327

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 7.284530729
company_buybacks_oku: 1.225
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.288266647

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.288266647
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2029-06-14
purchase_price_eur_assumed: 18.9747279
required_shares: 1519213.604
outsider_shares_raw_before_event: 62736342.991
raw_coverage_ratio: 41.2952746
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 1431884.578
oldholder_cash_inflow_oku: 0.271696202
oldholder_fraction_pre_SIF: 0.942516954003

carry_recognized_cash_and_tax_timing_oku

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carry_receivable_begin: 3.810087671
IFRS_company_carry_recognized: 18.944
same_vintage_cash_collected: 17.9968
prior_vintage_collection_modeled: 0
carry_receivable_end: 4.757287671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 10.04032
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 1.780736
other_corporate_income_tax_assumed_cash_paid: 3.003199222
total_company_tax_model_assumed_cash_paid: 4.783935222
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

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想定日: 2029-03-09
year: 2.338124572211
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.31369216
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-05-14
year: 2.518822724162
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.31369216
record_date: 2029-05-15
payment_date: 2029-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1028652289.998
issued_shares_eligible_at_ex_date: 1091388632.989
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-05-15
year: 2.521560574949
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-06-11
year: 2.595482546201
金額: 3.226801587
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2029-05-14
assumed_dps_eur: 0.31369216
company_dividend_cash_outflow_oku: 3.423600577
old_holder_remaining_shares_today: 1028652289.998
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1028652289.998

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想定日: 2029-06-14
year: 2.603696098563
金額: 0.271696202
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.288266647
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1431884.578
SIF_share_purchase_quantity: 1519213.604
SIF_purchase_execution_price_eur_assumed: 18.9747279
external_shares_outside_cohort_before_trade_raw: 62736342.991
external_coverage_raw_unrestricted_stock_multiple: 41.295275
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.288266647
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-06-15
year: 2.60643394935
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1091388632.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-01
year: 2.650239561944
金額: 0
種類: dif_39_percent_part_2_share_settlement_non_cash
date_status: scenario_assumption
new_ordinary_shares: 16522500
forward_liability_settlement_oku: 2.1
nci_equity_reclass_oku: 0.895
old_holder_fraction_after_share_settlement: 0.927168592167
ordinary_issued_after_event: 1107911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-01
year: 2.650239561944
金額: 0
種類: marathon_earnout_new_subco_exchange_non_cash
date_status: scenario_assumption
new_ordinary_shares: 11000000
non_cash_goodwill_eur_oku: 2.097382932
old_holder_fraction_after_share_settlement: 0.918053610456
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-01
year: 2.650239561944
金額: 0
種類: marathon_earnout_cash_payment_to_sellers_not_old_holder
date_status: scenario_assumption
company_cash_outflow_oku: 1.7
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-07-30
year: 2.729637234771
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.345061376
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

内容を開く

想定日: 2029-08-20
year: 2.7871321013
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.345061376
record_date: 2029-08-21
payment_date: 2029-09-17
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1027220405.42
issued_shares_eligible_at_ex_date: 1118911132.989
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-08-21
year: 2.789869952088
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-09-17
year: 2.86379192334
金額: 3.544540865
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2029-08-20
assumed_dps_eur: 0.345061376
company_dividend_cash_outflow_oku: 3.860930152
old_holder_remaining_shares_today: 1027220405.42
ordinary_issued_after_event: 1118911132.989
old_cohort_shares_after_event: 1027220405.42

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想定日: 2029-10-15
year: 2.94045174538
金額: 1.124615673
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.225
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 19.6534286
company_cash_paid_oku: 1.225
issuer_shares_cancelled: 6233009.139
old_holder_shares_tendered: 5722236.544
old_holder_fraction_pre_buyback: 0.918053610456
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 25.088657146
fpaum_end_billion_eur: 280.2093657
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 18.944
gross_investment_income_oku: 2.644410763
sbc_annual_oku: 0.288266647
DA_full_year_oku: 1.792252
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

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income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: 0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

内容を開く

period_id

fy_2030

fiscal_year

2030

period_start

2030-01-01

期間末

2030-12-31

opening_balance_date

2029-12-31

period_days

365

full_year_day_denominator

365

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 280.209366
fpaum_closing_billion_eur: 304.307371
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 27.764545
annualized_gross_carry_oku: 6.956
annualized_gross_investment_income_oku: 2.999095947
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 27.764545
gross_carried_interest_performance_revenue: 6.956
investment_income_including_fund_nci: 2.999095947
other_operating_income: 0.03
ifrs_total_revenue: 37.749640948
fee_related_cash_operating_cost_excluding_sbc: 11.244640725
performance_linked_personnel_cost: 3.68668
sbc_expense_left_in_ifrs_profit: 0.29835598
earnings_before_depreciation_finance_and_tax: 22.519964242
depreciation_and_amortization: 1.813759024
ifrs_operating_profit: 20.706205218
net_finance_expense: 0.42240979
ifrs_profit_before_tax: 20.283795429
cash_and_deferred_tax_expense_assumption: 4.056759086
ifrs_consolidated_profit: 16.227036343
nci_profit_fund_investments: 1.319602217
nci_profit_dif_remaining_interest: 0
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 1.319602217
ifrs_parent_attributable_profit_after_sbc: 14.907434126
ifrs_parent_profit_annualized_for_comparison: 14.907434126

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 16.227036343
noncash_sbc_addback_to_company_cash_only: 0.29835598
noncash_DA_addback_to_company_cash: 1.813759024
unrealized_investment_gains_removed_from_cash: 2.999095947
carry_income_recognized_in_ifrs: 6.956
assumed_carry_cash_collected: 6.6082
carry_current_year_accrual_cash_collected_only: 6.6082
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 3.68668
carry_tax_component_assumed_paid_on_accrual: 0.653864
total_income_tax_expense_assumed_paid_as_cash_in_period: 4.056759086
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.3478
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 14.1322554
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 21.545850856
owner_free_cash_before_holder_and_nci_distributions: 14.1322554
parent_dividend_cash_outflow: 7.974829454
issuer_share_repurchase_cash_outflow: 1.25
noncontrolling_distributions: 0
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.29835598
restricted_noncontrolling_cash_begin: 0.361743151
restricted_noncontrolling_cash_end: 0.374743151
available_parent_cash_end: 25.530177671
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 25.904920821

financial_debt_oku

内容を開く

begin: 21.28
debt_drawn_cash: 0
cash_repayment: 0.35
end: 20.93
net_debt_end: -4.974920821

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 16.036708385
owner_gp_investment_NAV_end: 18.209202115
owner_share_investment_fv_gain: 1.679493731
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 11.227800228
nci_owned_investment_NAV_end: 12.634402445
nci_share_investment_fv_gain: 1.319602217
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 4.757287671
accrued_carry_receivable_end: 5.105087671
dif_forward_liability_begin: 0
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 25.958317114

親会社持分（億）

内容を開く

begin: 51.090179899
parent_ifrs_net_profit: 14.907434126
equity_settled_SBC_credit_noncash: 0.29835598
cash_dividends_declared_and_assumed_paid: 7.974829454
company_cash_buybacks: 1.25
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.29835598
end: 56.772784571

noncontrolling_equity_oku

内容を開く

begin: 8.689543379
noncontrolling_net_profit: 1.319602217
distributions_paid: 0
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0
end: 10.109145596

株数

内容を開く

issued_and_outstanding_begin: 1112678123.85
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 5730331.294
issued_and_outstanding_end: 1106947792.556
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1021498168.876
old_holder_cohort_shares_pro_rata_tendered: 5254053.329
old_holder_cohort_shares_sold_to_company_funded_SIF: 1300574.627
old_holder_cohort_shares_end: 1014943540.92
old_holder_fraction_end: 0.916884741761

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 7.316438267
pro_rata_tender_cash_to_original_shareholder_cohort: 1.146105927
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.273906785
total_cash_to_original_shareholder_cohort: 8.736450979

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 7.974829454
company_buybacks_oku: 1.25
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.29835598

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.29835598
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2030-06-14
purchase_price_eur_assumed: 21.0604435
required_shares: 1416665.227
outsider_shares_raw_before_event: 91179954.974
raw_coverage_ratio: 64.3623866
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 1300574.627
oldholder_cash_inflow_oku: 0.273906785
oldholder_fraction_pre_SIF: 0.918053610456

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 4.757287671
IFRS_company_carry_recognized: 6.956
same_vintage_cash_collected: 6.6082
prior_vintage_collection_modeled: 0
carry_receivable_end: 5.105087671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 3.68668
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.653864
other_corporate_income_tax_assumed_cash_paid: 3.402895086
total_company_tax_model_assumed_cash_paid: 4.056759086
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2030-03-11
year: 3.342915811088
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.34129707
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

内容を開く

想定日: 2030-05-14
year: 3.518138261465
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.34129707
record_date: 2030-05-15
payment_date: 2030-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1021498168.876
issued_shares_eligible_at_ex_date: 1112678123.85
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

内容を開く

想定日: 2030-05-15
year: 3.520876112252
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

内容を開く

想定日: 2030-06-11
year: 3.594798083504
金額: 3.48634332
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2030-05-14
assumed_dps_eur: 0.34129707
company_dividend_cash_outflow_oku: 3.797537835
old_holder_remaining_shares_today: 1021498168.876
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

内容を開く

想定日: 2030-06-14
year: 3.603011635866
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1021498168.876

内容を開く

想定日: 2030-06-14
year: 3.603011635866
金額: 0.273906785
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.29835598
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1300574.627
SIF_share_purchase_quantity: 1416665.227
SIF_purchase_execution_price_eur_assumed: 21.0604435
external_shares_outside_cohort_before_trade_raw: 91179954.974
external_coverage_raw_unrestricted_stock_multiple: 64.362387
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.29835598
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

内容を開く

想定日: 2030-07-30
year: 3.728952772074
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.375426777
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

内容を開く

想定日: 2030-08-20
year: 3.786447638604
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.375426777
record_date: 2030-08-21
payment_date: 2030-09-16
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1020197594.249
issued_shares_eligible_at_ex_date: 1112678123.85
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

内容を開く

想定日: 2030-08-21
year: 3.789185489391
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

内容を開く

想定日: 2030-09-16
year: 3.860369609856
金額: 3.830094947
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2030-08-20
assumed_dps_eur: 0.375426777
company_dividend_cash_outflow_oku: 4.177291619
old_holder_remaining_shares_today: 1020197594.249
ordinary_issued_after_event: 1112678123.85
old_cohort_shares_after_event: 1020197594.249

内容を開く

想定日: 2030-10-15
year: 3.939767282683
金額: 1.146105927
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.25
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 21.8137475
company_cash_paid_oku: 1.25
issuer_shares_cancelled: 5730331.294
old_holder_shares_tendered: 5254053.329
old_holder_fraction_pre_buyback: 0.916884741761
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 27.764545
fpaum_end_billion_eur: 304.30737115
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 6.956
gross_investment_income_oku: 2.999095947
sbc_annual_oku: 0.29835598
DA_full_year_oku: 1.813759024
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: -0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

内容を開く

period_id

fy_2031

fiscal_year

2031

period_start

2031-01-01

期間末

2031-12-31

opening_balance_date

2030-12-31

period_days

365

full_year_day_denominator

365

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 304.307371
fpaum_closing_billion_eur: 329.86919
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 30.12338667
annualized_gross_carry_oku: 7.4
annualized_gross_investment_income_oku: 3.392796502
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

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management_fees_and_fee_related_performance_revenue: 30.12338667
gross_carried_interest_performance_revenue: 7.4
investment_income_including_fund_nci: 3.392796502
other_operating_income: 0.03
ifrs_total_revenue: 40.946183172
fee_related_cash_operating_cost_excluding_sbc: 12.199971601
performance_linked_personnel_cost: 3.922
sbc_expense_left_in_ifrs_profit: 0.308798439
earnings_before_depreciation_finance_and_tax: 24.515413131
depreciation_and_amortization: 1.835524132
ifrs_operating_profit: 22.679888999
net_finance_expense: 0.35890095
ifrs_profit_before_tax: 22.320988048
cash_and_deferred_tax_expense_assumption: 4.46419761
ifrs_consolidated_profit: 17.856790439
nci_profit_fund_investments: 1.492830461
nci_profit_dif_remaining_interest: 0
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 1.492830461
ifrs_parent_attributable_profit_after_sbc: 16.363959978
ifrs_parent_profit_annualized_for_comparison: 16.363959978

owner_cash_bridge_oku

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consolidated_ifrs_profit_after_tax: 17.856790439
noncash_sbc_addback_to_company_cash_only: 0.308798439
noncash_DA_addback_to_company_cash: 1.835524132
unrealized_investment_gains_removed_from_cash: 3.392796502
carry_income_recognized_in_ifrs: 7.4
assumed_carry_cash_collected: 7.03
carry_current_year_accrual_cash_collected_only: 7.03
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 3.922
carry_tax_component_assumed_paid_on_accrual: 0.6956
total_income_tax_expense_assumed_paid_as_cash_in_period: 4.46419761
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.37
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 15.378316509
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 25.904920821
owner_free_cash_before_holder_and_nci_distributions: 15.378316509
parent_dividend_cash_outflow: 8.631929572
issuer_share_repurchase_cash_outflow: 1.35
noncontrolling_distributions: 0
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.308798439
restricted_noncontrolling_cash_begin: 0.374743151
restricted_noncontrolling_cash_end: 0.387743151
available_parent_cash_end: 30.354766168
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 30.742509319

financial_debt_oku

内容を開く

begin: 20.93
debt_drawn_cash: 0
cash_repayment: 0.35
end: 20.58
net_debt_end: -10.162509319

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 18.209202115
owner_gp_investment_NAV_end: 20.602168156
owner_share_investment_fv_gain: 1.899966041
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 12.634402445
nci_owned_investment_NAV_end: 14.214232906
nci_share_investment_fv_gain: 1.492830461
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 5.105087671
accrued_carry_receivable_end: 5.475087671
dif_forward_liability_begin: 0
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 24.402792982

親会社持分（億）

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begin: 56.772784571
parent_ifrs_net_profit: 16.363959978
equity_settled_SBC_credit_noncash: 0.308798439
cash_dividends_declared_and_assumed_paid: 8.631929572
company_cash_buybacks: 1.35
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.308798439
end: 63.154814977

noncontrolling_equity_oku

内容を開く

begin: 10.109145596
noncontrolling_net_profit: 1.492830461
distributions_paid: 0
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0
end: 11.701976056

株数

内容を開く

issued_and_outstanding_begin: 1106947792.556
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 5575855.748
issued_and_outstanding_end: 1101371936.808
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1014943540.92
old_holder_cohort_shares_pro_rata_tendered: 5106314.121
old_holder_cohort_shares_sold_to_company_funded_SIF: 1211586.595
old_holder_cohort_shares_end: 1008625640.205
old_holder_fraction_end: 0.91579021264

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 7.909535618
pro_rata_tender_cash_to_original_shareholder_cohort: 1.236316787
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.283132577
total_cash_to_original_shareholder_cohort: 9.428984982

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 8.631929572
company_buybacks_oku: 1.35
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.308798439

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.308798439
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2031-06-13
purchase_price_eur_assumed: 23.3687446
required_shares: 1321416.466
outsider_shares_raw_before_event: 92004251.635
raw_coverage_ratio: 69.6254769
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 1211586.595
oldholder_cash_inflow_oku: 0.283132577
oldholder_fraction_pre_SIF: 0.916884741761

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 5.105087671
IFRS_company_carry_recognized: 7.4
same_vintage_cash_collected: 7.03
prior_vintage_collection_modeled: 0
carry_receivable_end: 5.475087671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 3.922
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.6956
other_corporate_income_tax_assumed_cash_paid: 3.76859761
total_company_tax_model_assumed_cash_paid: 4.46419761
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2031-03-10
year: 4.339493497604
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.371331212
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

内容を開く

想定日: 2031-05-14
year: 4.517453798768
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.371331212
record_date: 2031-05-15
payment_date: 2031-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1014943540.92
issued_shares_eligible_at_ex_date: 1106947792.556
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

内容を開く

想定日: 2031-05-15
year: 4.520191649555
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

内容を開く

想定日: 2031-06-11
year: 4.594113620808
金額: 3.768802152
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2031-05-14
assumed_dps_eur: 0.371331212
company_dividend_cash_outflow_oku: 4.110442654
old_holder_remaining_shares_today: 1014943540.92
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

内容を開く

想定日: 2031-06-13
year: 4.599589322382
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1014943540.92

内容を開く

想定日: 2031-06-13
year: 4.599589322382
金額: 0.283132577
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.308798439
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1211586.595
SIF_share_purchase_quantity: 1321416.466
SIF_purchase_execution_price_eur_assumed: 23.3687446
external_shares_outside_cohort_before_trade_raw: 92004251.635
external_coverage_raw_unrestricted_stock_multiple: 69.625477
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.308798439
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

内容を開く

想定日: 2031-07-30
year: 4.728268309377
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.408464333
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

内容を開く

想定日: 2031-08-20
year: 4.785763175907
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.408464333
record_date: 2031-08-21
payment_date: 2031-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1013731954.325
issued_shares_eligible_at_ex_date: 1106947792.556
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

内容を開く

想定日: 2031-08-21
year: 4.788501026694
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

内容を開く

想定日: 2031-09-15
year: 4.856947296372
金額: 4.140733466
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2031-08-20
assumed_dps_eur: 0.408464333
company_dividend_cash_outflow_oku: 4.521486918
old_holder_remaining_shares_today: 1013731954.325
ordinary_issued_after_event: 1106947792.556
old_cohort_shares_after_event: 1013731954.325

内容を開く

想定日: 2031-10-15
year: 4.939082819986
金額: 1.236316787
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.35
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 24.2115302
company_cash_paid_oku: 1.35
issuer_shares_cancelled: 5575855.748
old_holder_shares_tendered: 5106314.121
old_holder_fraction_pre_buyback: 0.91579021264
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 30.12338667
fpaum_end_billion_eur: 329.869190327
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 7.4
gross_investment_income_oku: 3.392796502
sbc_annual_oku: 0.308798439
DA_full_year_oku: 1.835524132
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: -0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

内容を開く

period_id

fy_2032

fiscal_year

2032

period_start

2032-01-01

期間末

2032-12-31

opening_balance_date

2031-12-31

period_days

366

full_year_day_denominator

366

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 329.86919
fpaum_closing_billion_eur: 356.918464
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 32.622413577
annualized_gross_carry_oku: 7.992
annualized_gross_investment_income_oku: 3.829804117
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 32.622413577
gross_carried_interest_performance_revenue: 7.992
investment_income_including_fund_nci: 3.829804117
other_operating_income: 0.03
ifrs_total_revenue: 44.474217694
fee_related_cash_operating_cost_excluding_sbc: 13.212077499
performance_linked_personnel_cost: 4.23576
sbc_expense_left_in_ifrs_profit: 0.319606385
earnings_before_depreciation_finance_and_tax: 26.70677381
depreciation_and_amortization: 1.857550422
ifrs_operating_profit: 24.849223389
net_finance_expense: 0.289649888
ifrs_profit_before_tax: 24.5595735
cash_and_deferred_tax_expense_assumption: 4.9119147
ifrs_consolidated_profit: 19.6476588
nci_profit_fund_investments: 1.685113811
nci_profit_dif_remaining_interest: 0
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 1.685113811
ifrs_parent_attributable_profit_after_sbc: 17.962544989
ifrs_parent_profit_annualized_for_comparison: 17.962544989

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 19.6476588
noncash_sbc_addback_to_company_cash_only: 0.319606385
noncash_DA_addback_to_company_cash: 1.857550422
unrealized_investment_gains_removed_from_cash: 3.829804117
carry_income_recognized_in_ifrs: 7.992
assumed_carry_cash_collected: 7.5924
carry_current_year_accrual_cash_collected_only: 7.5924
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 4.23576
carry_tax_component_assumed_paid_on_accrual: 0.751248
total_income_tax_expense_assumed_paid_as_cash_in_period: 4.9119147
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.3996
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 16.73541149
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 30.742509319
owner_free_cash_before_holder_and_nci_distributions: 16.73541149
parent_dividend_cash_outflow: 9.344232847
issuer_share_repurchase_cash_outflow: 1.37025
noncontrolling_distributions: 0
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.319606385
restricted_noncontrolling_cash_begin: 0.387743151
restricted_noncontrolling_cash_end: 0.400743151
available_parent_cash_end: 35.793088427
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 36.193831578

financial_debt_oku

内容を開く

begin: 20.58
debt_drawn_cash: 0
cash_repayment: 0.35
end: 20.23
net_debt_end: -15.963831578

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 20.602168156
owner_gp_investment_NAV_end: 23.239858462
owner_share_investment_fv_gain: 2.144690305
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 14.214232906
nci_owned_investment_NAV_end: 15.986346717
nci_share_investment_fv_gain: 1.685113811
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 5.475087671
accrued_carry_receivable_end: 5.874687671
dif_forward_liability_begin: 0
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 22.82524256

親会社持分（億）

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begin: 63.154814977
parent_ifrs_net_profit: 17.962544989
equity_settled_SBC_credit_noncash: 0.319606385
cash_dividends_declared_and_assumed_paid: 9.344232847
company_cash_buybacks: 1.37025
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.319606385
end: 70.402877119

noncontrolling_equity_oku

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begin: 11.701976056
noncontrolling_net_profit: 1.685113811
distributions_paid: 0
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0
end: 13.487089868

株数

内容を開く

issued_and_outstanding_begin: 1101371936.808
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 5097550.389
issued_and_outstanding_end: 1096274386.419
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1008625640.205
old_holder_cohort_shares_pro_rata_tendered: 4663066.84
old_holder_cohort_shares_sold_to_company_funded_SIF: 1127809.972
old_holder_cohort_shares_end: 1002834763.392
old_holder_fraction_end: 0.914766208001

holder_annual_cash_oku

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dividends_to_original_shareholder_cohort: 8.552344894
pro_rata_tender_cash_to_original_shareholder_cohort: 1.253458397
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.292692399
total_cash_to_original_shareholder_cohort: 10.09849569

company_dividend_buyback_comparison

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company_dividends_oku: 9.344232847
company_buybacks_oku: 1.37025
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.319606385

SIF_seller_liquidity_ledger

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company_funded_SIF_purchase_oku: 0.319606385
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2032-06-14
purchase_price_eur_assumed: 25.9522798
required_shares: 1231515.643
outsider_shares_raw_before_event: 92746296.603
raw_coverage_ratio: 75.3106931
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 1127809.972
oldholder_cash_inflow_oku: 0.292692399
oldholder_fraction_pre_SIF: 0.91579021264

carry_recognized_cash_and_tax_timing_oku

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carry_receivable_begin: 5.475087671
IFRS_company_carry_recognized: 7.992
same_vintage_cash_collected: 7.5924
prior_vintage_collection_modeled: 0
carry_receivable_end: 5.874687671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 4.23576
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.751248
other_corporate_income_tax_assumed_cash_paid: 4.1606667
total_company_tax_model_assumed_cash_paid: 4.9119147
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

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想定日: 2032-03-09
year: 5.338809034908
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.404008359
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-05-14
year: 5.519507186858
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.404008359
record_date: 2032-05-17
payment_date: 2032-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1008625640.205
issued_shares_eligible_at_ex_date: 1101371936.808
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-05-17
year: 5.52772073922
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-06-11
year: 5.596167008898
金額: 4.074931897
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2032-05-14
assumed_dps_eur: 0.404008359
company_dividend_cash_outflow_oku: 4.449634688
old_holder_remaining_shares_today: 1008625640.205
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1008625640.205

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想定日: 2032-06-14
year: 5.604380561259
金額: 0.292692399
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.319606385
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1127809.972
SIF_share_purchase_quantity: 1231515.643
SIF_purchase_execution_price_eur_assumed: 25.9522798
external_shares_outside_cohort_before_trade_raw: 92746296.603
external_coverage_raw_unrestricted_stock_multiple: 75.310693
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.319606385
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-06-15
year: 5.607118412047
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-07-30
year: 5.730321697467
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.444409195
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-08-20
year: 5.787816563997
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.444409195
record_date: 2032-08-23
payment_date: 2032-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1007497830.232
issued_shares_eligible_at_ex_date: 1101371936.808
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-08-23
year: 5.796030116359
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-09-15
year: 5.859000684463
金額: 4.477412997
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2032-08-20
assumed_dps_eur: 0.444409195
company_dividend_cash_outflow_oku: 4.894598158
old_holder_remaining_shares_today: 1007497830.232
ordinary_issued_after_event: 1101371936.808
old_cohort_shares_after_event: 1007497830.232

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想定日: 2032-10-15
year: 5.941136208077
金額: 1.253458397
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.37025
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 26.8805582
company_cash_paid_oku: 1.37025
issuer_shares_cancelled: 5097550.389
old_holder_shares_tendered: 4663066.84
old_holder_fraction_pre_buyback: 0.914766208001
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 32.622413577
fpaum_end_billion_eur: 356.918463934
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 7.992
gross_investment_income_oku: 3.829804117
sbc_annual_oku: 0.319606385
DA_full_year_oku: 1.857550422
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

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income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: 0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: -0

内容を開く

period_id

fy_2033

fiscal_year

2033

period_start

2033-01-01

期間末

2033-12-31

opening_balance_date

2032-12-31

period_days

365

full_year_day_denominator

365

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 356.918464
fpaum_closing_billion_eur: 385.471941
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 35.263544237
annualized_gross_carry_oku: 8.732
annualized_gross_investment_income_oku: 4.31488257
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 35.263544237
gross_carried_interest_performance_revenue: 8.732
investment_income_including_fund_nci: 4.31488257
other_operating_income: 0.03
ifrs_total_revenue: 48.340426806
fee_related_cash_operating_cost_excluding_sbc: 14.281735416
performance_linked_personnel_cost: 4.62796
sbc_expense_left_in_ifrs_profit: 0.330792608
earnings_before_depreciation_finance_and_tax: 29.099938782
depreciation_and_amortization: 1.879841027
ifrs_operating_profit: 27.220097755
net_finance_expense: 0.213034021
ifrs_profit_before_tax: 27.007063734
cash_and_deferred_tax_expense_assumption: 5.401412747
ifrs_consolidated_profit: 21.605650987
nci_profit_fund_investments: 1.898548331
nci_profit_dif_remaining_interest: 0
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 1.898548331
ifrs_parent_attributable_profit_after_sbc: 19.707102657
ifrs_parent_profit_annualized_for_comparison: 19.707102657

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 21.605650987
noncash_sbc_addback_to_company_cash_only: 0.330792608
noncash_DA_addback_to_company_cash: 1.879841027
unrealized_investment_gains_removed_from_cash: 4.31488257
carry_income_recognized_in_ifrs: 8.732
assumed_carry_cash_collected: 8.2954
carry_current_year_accrual_cash_collected_only: 8.2954
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 4.62796
carry_tax_component_assumed_paid_on_accrual: 0.820808
total_income_tax_expense_assumed_paid_as_cash_in_period: 5.401412747
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.4366
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 18.204802053
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 36.193831578
owner_free_cash_before_holder_and_nci_distributions: 18.204802053
parent_dividend_cash_outflow: 10.119470959
issuer_share_repurchase_cash_outflow: 1.39080375
noncontrolling_distributions: 0
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.330792608
restricted_noncontrolling_cash_begin: 0.400743151
restricted_noncontrolling_cash_end: 0.413743151
available_parent_cash_end: 41.893823163
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 42.307566314

financial_debt_oku

内容を開く

begin: 20.23
debt_drawn_cash: 0
cash_repayment: 0.35
end: 19.88
net_debt_end: -22.427566314

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 23.239858462
owner_gp_investment_NAV_end: 26.149192701
owner_share_investment_fv_gain: 2.416334239
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 15.986346717
nci_owned_investment_NAV_end: 17.971895048
nci_share_investment_fv_gain: 1.898548331
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 5.874687671
accrued_carry_receivable_end: 6.311287671
dif_forward_liability_begin: 0
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 21.225401533

親会社持分（億）

内容を開く

begin: 70.402877119
parent_ifrs_net_profit: 19.707102657
equity_settled_SBC_credit_noncash: 0.330792608
cash_dividends_declared_and_assumed_paid: 10.119470959
company_cash_buybacks: 1.39080375
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.330792608
end: 78.599705067

noncontrolling_equity_oku

内容を開く

begin: 13.487089868
noncontrolling_net_profit: 1.898548331
distributions_paid: 0
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0
end: 15.485638198

株数

内容を開く

issued_and_outstanding_begin: 1096274386.419
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 4662938.638
issued_and_outstanding_end: 1091611447.781
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 1002834763.392
old_holder_cohort_shares_pro_rata_tendered: 4261030.431
old_holder_cohort_shares_sold_to_company_funded_SIF: 1050505.76
old_holder_cohort_shares_end: 997523227.201
old_holder_fraction_end: 0.913807957244

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 9.2518707
pro_rata_tender_cash_to_original_shareholder_cohort: 1.270927534
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.3025979
total_cash_to_original_shareholder_cohort: 10.825396134

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 10.119470959
company_buybacks_oku: 1.39080375
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.330792608

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.330792608
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2033-06-14
purchase_price_eur_assumed: 28.8049729
required_shares: 1148387.152
outsider_shares_raw_before_event: 93439623.026
raw_coverage_ratio: 81.36596
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 1050505.76
oldholder_cash_inflow_oku: 0.3025979
oldholder_fraction_pre_SIF: 0.914766208001

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 5.874687671
IFRS_company_carry_recognized: 8.732
same_vintage_cash_collected: 8.2954
prior_vintage_collection_modeled: 0
carry_receivable_end: 6.311287671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 4.62796
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.820808
other_corporate_income_tax_assumed_cash_paid: 4.580604747
total_company_tax_model_assumed_cash_paid: 5.401412747
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2033-03-09
year: 6.338124572211
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.439561095
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

内容を開く

想定日: 2033-05-13
year: 6.516084873374
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.439561095
record_date: 2033-05-16
payment_date: 2033-06-13
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1002834763.392
issued_shares_eligible_at_ex_date: 1096274386.419
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

内容を開く

想定日: 2033-05-16
year: 6.524298425736
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

内容を開く

想定日: 2033-06-13
year: 6.600958247775
金額: 4.408071467
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2033-05-13
assumed_dps_eur: 0.439561095
company_dividend_cash_outflow_oku: 4.818795697
old_holder_remaining_shares_today: 1002834763.392
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1002834763.392

内容を開く

想定日: 2033-06-14
year: 6.603696098563
金額: 0.3025979
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.330792608
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 1050505.76
SIF_share_purchase_quantity: 1148387.152
SIF_purchase_execution_price_eur_assumed: 28.8049729
external_shares_outside_cohort_before_trade_raw: 93439623.026
external_coverage_raw_unrestricted_stock_multiple: 81.36596
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.330792608
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

内容を開く

想定日: 2033-06-15
year: 6.60643394935
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

内容を開く

想定日: 2033-08-01
year: 6.735112936345
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.483517204
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

内容を開く

想定日: 2033-08-19
year: 6.784394250513
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.483517204
record_date: 2033-08-22
payment_date: 2033-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 1001784257.632
issued_shares_eligible_at_ex_date: 1096274386.419
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

内容を開く

想定日: 2033-08-22
year: 6.792607802875
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

内容を開く

想定日: 2033-09-15
year: 6.858316221766
金額: 4.843799233
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2033-08-19
assumed_dps_eur: 0.483517204
company_dividend_cash_outflow_oku: 5.300675261
old_holder_remaining_shares_today: 1001784257.632
ordinary_issued_after_event: 1096274386.419
old_cohort_shares_after_event: 1001784257.632

内容を開く

想定日: 2033-10-14
year: 6.937713894593
金額: 1.270927534
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.39080375
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 29.826765
company_cash_paid_oku: 1.39080375
issuer_shares_cancelled: 4662938.638
old_holder_shares_tendered: 4261030.431
old_holder_fraction_pre_buyback: 0.913807957244
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 35.263544237
fpaum_end_billion_eur: 385.471941048
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 8.732
gross_investment_income_oku: 4.31488257
sbc_annual_oku: 0.330792608
DA_full_year_oku: 1.879841027
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: 0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

内容を開く

period_id

fy_2034

fiscal_year

2034

period_start

2034-01-01

期間末

2034-12-31

opening_balance_date

2033-12-31

period_days

365

full_year_day_denominator

365

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 385.471941
fpaum_closing_billion_eur: 415.538752
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 38.048007941
annualized_gross_carry_oku: 9.472
annualized_gross_investment_income_oku: 4.853319652
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 38.048007941
gross_carried_interest_performance_revenue: 9.472
investment_income_including_fund_nci: 4.853319652
other_operating_income: 0.03
ifrs_total_revenue: 52.403327593
fee_related_cash_operating_cost_excluding_sbc: 15.409443216
performance_linked_personnel_cost: 5.02016
sbc_expense_left_in_ifrs_profit: 0.34237035
earnings_before_depreciation_finance_and_tax: 31.631354028
depreciation_and_amortization: 1.902399119
ifrs_operating_profit: 29.728954908
net_finance_expense: 0.128469204
ifrs_profit_before_tax: 29.600485704
cash_and_deferred_tax_expense_assumption: 5.920097141
ifrs_consolidated_profit: 23.680388563
nci_profit_fund_investments: 2.135460647
nci_profit_dif_remaining_interest: 0
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 2.135460647
ifrs_parent_attributable_profit_after_sbc: 21.544927916
ifrs_parent_profit_annualized_for_comparison: 21.544927916

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 23.680388563
noncash_sbc_addback_to_company_cash_only: 0.34237035
noncash_DA_addback_to_company_cash: 1.902399119
unrealized_investment_gains_removed_from_cash: 4.853319652
carry_income_recognized_in_ifrs: 9.472
assumed_carry_cash_collected: 8.9984
carry_current_year_accrual_cash_collected_only: 8.9984
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 5.02016
carry_tax_component_assumed_paid_on_accrual: 0.890368
total_income_tax_expense_assumed_paid_as_cash_in_period: 5.920097141
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.4736
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 19.73823838
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 42.307566314
owner_free_cash_before_holder_and_nci_distributions: 19.73823838
parent_dividend_cash_outflow: 10.963154078
issuer_share_repurchase_cash_outflow: 1.411665806
noncontrolling_distributions: 0
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.34237035
restricted_noncontrolling_cash_begin: 0.413743151
restricted_noncontrolling_cash_end: 0.426743151
available_parent_cash_end: 48.651871309
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 49.07861446

financial_debt_oku

内容を開く

begin: 19.88
debt_drawn_cash: 0
cash_repayment: 0.35
end: 19.53
net_debt_end: -29.54861446

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 26.149192701
owner_gp_investment_NAV_end: 29.360051706
owner_share_investment_fv_gain: 2.717859005
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 17.971895048
nci_owned_investment_NAV_end: 20.194355695
nci_share_investment_fv_gain: 2.135460647
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 6.311287671
accrued_carry_receivable_end: 6.784887671
dif_forward_liability_begin: 0
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 19.603002413

親会社持分（億）

内容を開く

begin: 78.599705067
parent_ifrs_net_profit: 21.544927916
equity_settled_SBC_credit_noncash: 0.34237035
cash_dividends_declared_and_assumed_paid: 10.963154078
company_cash_buybacks: 1.411665806
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.34237035
end: 87.7698131

noncontrolling_equity_oku

内容を開く

begin: 15.485638198
noncontrolling_net_profit: 2.135460647
distributions_paid: 0
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0
end: 17.721098845

株数

内容を開く

issued_and_outstanding_begin: 1091611447.781
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 4265381.424
issued_and_outstanding_end: 1087346066.357
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 997523227.201
old_holder_cohort_shares_pro_rata_tendered: 3893915.806
old_holder_cohort_shares_sold_to_company_funded_SIF: 978569.452
old_holder_cohort_shares_end: 992650741.943
old_holder_fraction_end: 0.912911512402

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 10.013069505
pro_rata_tender_cash_to_original_shareholder_cohort: 1.288725966
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.31286075
total_cash_to_original_shareholder_cohort: 11.614656221

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 10.963154078
company_buybacks_oku: 1.411665806
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.34237035

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.34237035
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2034-06-14
purchase_price_eur_assumed: 31.9712361
required_shares: 1070869.918
outsider_shares_raw_before_event: 94088220.58
raw_coverage_ratio: 87.8614844
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 978569.452
oldholder_cash_inflow_oku: 0.31286075
oldholder_fraction_pre_SIF: 0.913807957244

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 6.311287671
IFRS_company_carry_recognized: 9.472
same_vintage_cash_collected: 8.9984
prior_vintage_collection_modeled: 0
carry_receivable_end: 6.784887671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 5.02016
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.890368
other_corporate_income_tax_assumed_cash_paid: 5.029729141
total_company_tax_model_assumed_cash_paid: 5.920097141
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2034-03-09
year: 7.337440109514
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.478242471
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

内容を開く

想定日: 2034-05-12
year: 7.51266255989
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.478242471
record_date: 2034-05-15
payment_date: 2034-06-12
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 997523227.201
issued_shares_eligible_at_ex_date: 1091611447.781
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

内容を開く

想定日: 2034-05-15
year: 7.520876112252
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

内容を開く

想定日: 2034-06-12
year: 7.597535934292
金額: 4.770579731
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2034-05-12
assumed_dps_eur: 0.478242471
company_dividend_cash_outflow_oku: 5.220549562
old_holder_remaining_shares_today: 997523227.201
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 997523227.201

内容を開く

想定日: 2034-06-14
year: 7.603011635866
金額: 0.31286075
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.34237035
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 978569.452
SIF_share_purchase_quantity: 1070869.918
SIF_purchase_execution_price_eur_assumed: 31.9712361
external_shares_outside_cohort_before_trade_raw: 94088220.58
external_coverage_raw_unrestricted_stock_multiple: 87.861484
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.34237035
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

内容を開く

想定日: 2034-06-15
year: 7.605749486653
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

内容を開く

想定日: 2034-07-31
year: 7.731690622861
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.526066718
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

内容を開く

想定日: 2034-08-18
year: 7.780971937029
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.526066718
record_date: 2034-08-21
payment_date: 2034-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 996544657.749
issued_shares_eligible_at_ex_date: 1091611447.781
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

内容を開く

想定日: 2034-08-21
year: 7.789185489391
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

内容を開く

想定日: 2034-09-15
year: 7.857631759069
金額: 5.242489774
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2034-08-18
assumed_dps_eur: 0.526066718
company_dividend_cash_outflow_oku: 5.742604517
old_holder_remaining_shares_today: 996544657.749
ordinary_issued_after_event: 1091611447.781
old_cohort_shares_after_event: 996544657.749

内容を開く

想定日: 2034-10-13
year: 7.934291581109
金額: 1.288725966
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.411665806
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 33.0958868
company_cash_paid_oku: 1.411665806
issuer_shares_cancelled: 4265381.424
old_holder_shares_tendered: 3893915.806
old_holder_fraction_pre_buyback: 0.912911512402
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 38.048007941
fpaum_end_billion_eur: 415.53875245
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 9.472
gross_investment_income_oku: 4.853319652
sbc_annual_oku: 0.34237035
DA_full_year_oku: 1.902399119
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: 0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

内容を開く

period_id

fy_2035

fiscal_year

2035

period_start

2035-01-01

期間末

2035-12-31

opening_balance_date

2034-12-31

period_days

365

full_year_day_denominator

365

fraction_of_fiscal_year

data_status

scenario_forecast_full_year

business_driver

内容を開く

fpaum_opening_billion_eur: 415.538752
fpaum_closing_billion_eur: 447.119698
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 40.976276379
annualized_gross_carry_oku: 10.212
annualized_gross_investment_income_oku: 5.450984814
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 40.976276379
gross_carried_interest_performance_revenue: 10.212
investment_income_including_fund_nci: 5.450984814
other_operating_income: 0.03
ifrs_total_revenue: 56.669261193
fee_related_cash_operating_cost_excluding_sbc: 16.595391934
performance_linked_personnel_cost: 5.41236
sbc_expense_left_in_ifrs_profit: 0.354353312
earnings_before_depreciation_finance_and_tax: 34.307155948
depreciation_and_amortization: 1.925227909
ifrs_operating_profit: 32.381928039
net_finance_expense: 0.1
ifrs_profit_before_tax: 32.281928039
cash_and_deferred_tax_expense_assumption: 6.456385608
ifrs_consolidated_profit: 25.825542431
nci_profit_fund_investments: 2.398433318
nci_profit_dif_remaining_interest: 0
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 2.398433318
ifrs_parent_attributable_profit_after_sbc: 23.427109113
ifrs_parent_profit_annualized_for_comparison: 23.427109113

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 25.825542431
noncash_sbc_addback_to_company_cash_only: 0.354353312
noncash_DA_addback_to_company_cash: 1.925227909
unrealized_investment_gains_removed_from_cash: 5.450984814
carry_income_recognized_in_ifrs: 10.212
assumed_carry_cash_collected: 9.7014
carry_current_year_accrual_cash_collected_only: 9.7014
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 5.41236
carry_tax_component_assumed_paid_on_accrual: 0.959928
total_income_tax_expense_assumed_paid_as_cash_in_period: 6.456385608
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.5106
maintenance_cash_capex: 0.28
gp_commitment_net_cash_deployment: 0.58
consolidated_cash_available_before_distributions_debt: 21.283538838
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 49.07861446
owner_free_cash_before_holder_and_nci_distributions: 21.283538838
parent_dividend_cash_outflow: 11.881304302
issuer_share_repurchase_cash_outflow: 1.432840793
noncontrolling_distributions: 0
noncontrolling_fund_contributions: 0.1
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.354353312
restricted_noncontrolling_cash_begin: 0.426743151
restricted_noncontrolling_cash_end: 0.439743151
available_parent_cash_end: 56.00391174
debt_cash_repayment: 0.35
new_debt_cash_drawing: 0
end: 56.44365489

financial_debt_oku

内容を開く

begin: 19.53
debt_drawn_cash: 0
cash_repayment: 0.35
end: 19.18
net_debt_end: -37.26365489

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 29.360051706
owner_gp_investment_NAV_end: 32.905603202
owner_share_investment_fv_gain: 3.052551496
owner_share_gp_new_investment_cash: 0.493
nci_owned_investment_NAV_begin: 20.194355695
nci_owned_investment_NAV_end: 22.679789013
nci_share_investment_fv_gain: 2.398433318
nci_share_gp_new_investment_cash: 0.087
accrued_carry_receivable_begin: 6.784887671
accrued_carry_receivable_end: 7.295487671
dif_forward_liability_begin: 0
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 17.957774505

親会社持分（億）

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begin: 87.7698131
parent_ifrs_net_profit: 23.427109113
equity_settled_SBC_credit_noncash: 0.354353312
cash_dividends_declared_and_assumed_paid: 11.881304302
company_cash_buybacks: 1.432840793
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.354353312
end: 97.882777117

noncontrolling_equity_oku

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begin: 17.721098845
noncontrolling_net_profit: 2.398433318
distributions_paid: 0
capital_contributions: 0.1
converted_into_parent_equity_noncash: 0
end: 20.219532163

株数

内容を開く

issued_and_outstanding_begin: 1087346066.357
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 3898376.527
issued_and_outstanding_end: 1083447689.83
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 992650741.943
old_holder_cohort_shares_pro_rata_tendered: 3555604.452
old_holder_cohort_shares_sold_to_company_funded_SIF: 911619.896
old_holder_cohort_shares_end: 988183517.594
old_holder_fraction_end: 0.91207312256

holder_annual_cash_oku

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dividends_to_original_shareholder_cohort: 10.841361727
pro_rata_tender_cash_to_original_shareholder_cohort: 1.306855576
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.323493218
total_cash_to_original_shareholder_cohort: 12.471710521

company_dividend_buyback_comparison

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company_dividends_oku: 11.881304302
company_buybacks_oku: 1.432840793
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.354353312

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.354353312
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2035-06-14
purchase_price_eur_assumed: 35.4855373
required_shares: 998585.168
outsider_shares_raw_before_event: 94695324.415
raw_coverage_ratio: 94.8294922
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 911619.896
oldholder_cash_inflow_oku: 0.323493218
oldholder_fraction_pre_SIF: 0.912911512402

carry_recognized_cash_and_tax_timing_oku

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carry_receivable_begin: 6.784887671
IFRS_company_carry_recognized: 10.212
same_vintage_cash_collected: 9.7014
prior_vintage_collection_modeled: 0
carry_receivable_end: 7.295487671
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 5.41236
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.959928
other_corporate_income_tax_assumed_cash_paid: 5.496457608
total_company_tax_model_assumed_cash_paid: 6.456385608
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

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想定日: 2035-03-09
year: 8.336755646817
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.520327808
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

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想定日: 2035-05-14
year: 8.517453798768
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.520327808
record_date: 2035-05-15
payment_date: 2035-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 992650741.943
issued_shares_eligible_at_ex_date: 1087346066.357
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

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想定日: 2035-05-15
year: 8.520191649555
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

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想定日: 2035-06-11
year: 8.594113620808
金額: 5.165037847
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2035-05-14
assumed_dps_eur: 0.520327808
company_dividend_cash_outflow_oku: 5.657763952
old_holder_remaining_shares_today: 992650741.943
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 992650741.943

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想定日: 2035-06-14
year: 8.602327173169
金額: 0.323493218
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.354353312
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 911619.896
SIF_share_purchase_quantity: 998585.168
SIF_purchase_execution_price_eur_assumed: 35.4855373
external_shares_outside_cohort_before_trade_raw: 94695324.415
external_coverage_raw_unrestricted_stock_multiple: 94.829492
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.354353312
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

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想定日: 2035-06-15
year: 8.605065023956
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

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想定日: 2035-07-30
year: 8.728268309377
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.572360589
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

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想定日: 2035-08-20
year: 8.785763175907
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.572360589
record_date: 2035-08-21
payment_date: 2035-09-17
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 991739122.046
issued_shares_eligible_at_ex_date: 1087346066.357
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

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想定日: 2035-08-21
year: 8.788501026694
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

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想定日: 2035-09-17
year: 8.862422997947
金額: 5.67632388
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2035-08-20
assumed_dps_eur: 0.572360589
company_dividend_cash_outflow_oku: 6.22354035
old_holder_remaining_shares_today: 991739122.046
ordinary_issued_after_event: 1087346066.357
old_cohort_shares_after_event: 991739122.046

内容を開く

想定日: 2035-10-15
year: 8.939082819986
金額: 1.306855576
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.432840793
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 36.7548076
company_cash_paid_oku: 1.432840793
issuer_shares_cancelled: 3898376.527
old_holder_shares_tendered: 3555604.452
old_holder_fraction_pre_buyback: 0.91207312256
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 40.976276379
fpaum_end_billion_eur: 447.119697636
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 10.212
gross_investment_income_oku: 5.450984814
sbc_annual_oku: 0.354353312
DA_full_year_oku: 1.925227909
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: -0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: -0

内容を開く

period_id

2036_final_partial_311days

fiscal_year

2036

period_start

2036-01-01

期間末

2036-11-06

opening_balance_date

2035-12-31

period_days

311

full_year_day_denominator

366

fraction_of_fiscal_year

0.849726775956

data_status

scenario_forecast_partial_period

business_driver

内容を開く

fpaum_opening_billion_eur: 447.119698
fpaum_closing_billion_eur: 480.206555
effective_management_fee_rate_assumed: 0.0095
annualized_fee_related_revenue_oku: 44.047997013
annualized_gross_carry_oku: 10.952
annualized_gross_investment_income_oku: 6.114393144
fee_operating_margin_before_sbc_assumed: 0.595

income_oku

内容を開く

management_fees_and_fee_related_performance_revenue: 37.428762489
gross_carried_interest_performance_revenue: 9.30620765
investment_income_including_fund_nci: 5.195563573
other_operating_income: 0.025491803
ifrs_total_revenue: 51.956025515
fee_related_cash_operating_cost_excluding_sbc: 15.158648808
performance_linked_personnel_cost: 4.932290055
sbc_expense_left_in_ifrs_profit: 0.31164212
earnings_before_depreciation_finance_and_tax: 31.553444533
depreciation_and_amortization: 1.655548716
ifrs_operating_profit: 29.897895817
net_finance_expense: 0.084972678
ifrs_profit_before_tax: 29.812923139
cash_and_deferred_tax_expense_assumption: 5.962584628
ifrs_consolidated_profit: 23.850338511
nci_profit_fund_investments: 2.286047972
nci_profit_dif_remaining_interest: 0
nci_profit_marathon_subco: 0
ifrs_noncontrolling_profit_total: 2.286047972
ifrs_parent_attributable_profit_after_sbc: 21.564290539
ifrs_parent_profit_annualized_for_comparison: 25.377911053

owner_cash_bridge_oku

内容を開く

consolidated_ifrs_profit_after_tax: 23.850338511
noncash_sbc_addback_to_company_cash_only: 0.31164212
noncash_DA_addback_to_company_cash: 1.655548716
unrealized_investment_gains_removed_from_cash: 5.195563573
carry_income_recognized_in_ifrs: 9.30620765
assumed_carry_cash_collected: 8.840897268
carry_current_year_accrual_cash_collected_only: 8.840897268
carry_prior_year_vintage_cash_collected_assumed: 0
carry_additional_company_partner_bonus_assumed_cash_paid_on_accrual: 4.932290055
carry_tax_component_assumed_paid_on_accrual: 0.874783519
total_income_tax_expense_assumed_paid_as_cash_in_period: 5.962584628
carry_receivable_book_is_company_IFRS_entitlement_not_external_employee_carry: はい
carry_receivable_growth_deducted: 0.465310383
maintenance_cash_capex: 0.237923497
gp_commitment_net_cash_deployment: 0.49284153
consolidated_cash_available_before_distributions_debt: 19.425890365
not_pretended_to_be_ifrs_reported_cash_flow: はい

company_cash_oku

内容を開く

begin: 56.44365489
owner_free_cash_before_holder_and_nci_distributions: 19.425890365
parent_dividend_cash_outflow: 12.880513428
issuer_share_repurchase_cash_outflow: 1.454333405
noncontrolling_distributions: 0
noncontrolling_fund_contributions: 0.084972678
marathon_earnout_cash_to_sellers: 0
company_funded_SIF_replenishment_total_company_outflow: 0.31164212
restricted_noncontrolling_cash_begin: 0.439743151
restricted_noncontrolling_cash_end: 0.450789599
available_parent_cash_end: 60.559835009
debt_cash_repayment: 0.297404372
new_debt_cash_drawing: 0
end: 61.010624608

financial_debt_oku

内容を開く

begin: 19.18
debt_drawn_cash: 0
cash_repayment: 0.297404372
end: 18.882595628
net_debt_end: -42.12802898

assets_and_nci_oku

内容を開く

owner_gp_investment_nav_begin: 32.905603202
owner_gp_investment_NAV_end: 36.234034103
owner_share_investment_fv_gain: 2.909515601
owner_share_gp_new_investment_cash: 0.418915301
nci_owned_investment_NAV_begin: 22.679789013
nci_owned_investment_NAV_end: 25.039763214
nci_share_investment_fv_gain: 2.286047972
nci_share_gp_new_investment_cash: 0.07392623
accrued_carry_receivable_begin: 7.295487671
accrued_carry_receivable_end: 7.760798054
dif_forward_liability_begin: 0
dif_forward_liability_non_cash_settlement: 0
dif_forward_liability_end: 0
other_net_assets_minus_other_net_liabilities_proxy_end: 16.540149286

親会社持分（億）

内容を開く

begin: 97.882777117
parent_ifrs_net_profit: 21.564290539
equity_settled_SBC_credit_noncash: 0.31164212
cash_dividends_declared_and_assumed_paid: 12.880513428
company_cash_buybacks: 1.454333405
reclassification_from_acquired_nci: 0
dif_forward_liability_settled_into_equity_noncash: 0
earnout_new_share_equity_credit_with_goodwill_noncash: 0
company_cash_funded_SIF_market_purchase_equity_deduction: 0.31164212
end: 105.112220823

noncontrolling_equity_oku

内容を開く

begin: 20.219532163
noncontrolling_net_profit: 2.286047972
distributions_paid: 0
capital_contributions: 0.084972678
converted_into_parent_equity_noncash: 0
end: 22.590552813

株数

内容を開く

issued_and_outstanding_begin: 1083447689.83
new_ordinary_shares_for_dif_marathon: 0
issuer_bought_and_cancelled: 3563967.879
issued_and_outstanding_end: 1079883721.951
employee_SIF_old_shares_delivered_existing_no_new_issuance_shares: 0
employee_share_issuance_shares: 0
old_holder_cohort_shares_begin: 988183517.594
old_holder_cohort_shares_pro_rata_tendered: 3248225.38
old_holder_cohort_shares_sold_to_company_funded_SIF: 721676.338
old_holder_cohort_shares_end: 984213615.876
old_holder_fraction_end: 0.911407030099

holder_annual_cash_oku

内容を開く

dividends_to_original_shareholder_cohort: 11.74347602
pro_rata_tender_cash_to_original_shareholder_cohort: 1.325489689
company_funded_SIF_market_purchase_cash_to_original_shareholder_cohort: 0.284240402
total_cash_to_original_shareholder_cohort: 13.353206111

company_dividend_buyback_comparison

内容を開く

company_dividends_oku: 12.880513428
company_buybacks_oku: 1.454333405
sbc_non_cash_event_amount: 0
SIF_company_cash_market_purchase_distinct_from_issuer_repurchase: 0.31164212

SIF_seller_liquidity_ledger

内容を開く

company_funded_SIF_purchase_oku: 0.31164212
old_cohort_seller_policy: pro_rata
actual_external_unlocked_tradable_shares_known: いいえ
externally_sellable_shares_primary_source_verified: 未確認
outside_pool_cumulative_sale_capacity_without_lockup_unverified: はい
Marathon_exchange_shares_subject_to_contractual_lockup: はい
日付: 2036-06-13
purchase_price_eur_assumed: 39.3861329
required_shares: 791248.333
outsider_shares_raw_before_event: 95264172.236
raw_coverage_ratio: 120.3973117
outsider_only_raw_stock_feasible: はい
outsider_only_verified_saleable_stock_feasible: 未確認
outsider_only_verified_feasibility_reason: no primary source verifies freely sellable Marathon/DIF exchange shares in this period
oldholder_shares_sold_baseline: 721676.338
oldholder_cash_inflow_oku: 0.284240402
oldholder_fraction_pre_SIF: 0.91207312256

carry_recognized_cash_and_tax_timing_oku

内容を開く

carry_receivable_begin: 7.295487671
IFRS_company_carry_recognized: 9.30620765
same_vintage_cash_collected: 8.840897268
prior_vintage_collection_modeled: 0
carry_receivable_end: 7.760798054
company_internal_partner_bonus_recognized_and_assumed_cash_paid: 4.932290055
corporate_tax_on_carry_after_bonus_recognized_and_assumed_cash_paid: 0.874783519
other_corporate_income_tax_assumed_cash_paid: 5.087801109
total_company_tax_model_assumed_cash_paid: 5.962584628
partner_compensation_timing_reported_or_assumed: assumed cash paid in accrual period; not proven from issuer financials
tax_cash_settlement_reported_or_assumed: assumed cash paid in accrual period; issuer deferred/current split unverified

year_scheduled_events

内容を開く

想定日: 2036-03-10
year: 9.341546885695
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.566116655
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

内容を開く

想定日: 2036-05-14
year: 9.519507186858
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: final
assumed_dps_eur: 0.566116655
record_date: 2036-05-15
payment_date: 2036-06-11
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 988183517.594
issued_shares_eligible_at_ex_date: 1083447689.83
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

内容を開く

想定日: 2036-05-15
year: 9.522245037645
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: final
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

内容を開く

想定日: 2036-06-11
year: 9.596167008898
金額: 5.594271475
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: final
ex_date: 2036-05-14
assumed_dps_eur: 0.566116655
company_dividend_cash_outflow_oku: 6.13357782
old_holder_remaining_shares_today: 988183517.594
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

内容を開く

想定日: 2036-06-13
year: 9.601642710472
金額: 0
種類: sbc_existing_SIF_shares_delivery_non_cash
date_status: scenario_assumption
new_ordinary_shares: 0
trust_funding_not_proven: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 988183517.594

内容を開く

想定日: 2036-06-13
year: 9.601642710472
金額: 0.284240402
種類: assumed_SIF_market_purchase_and_oldholder_sale
date_status: scenario_assumption
company_cash_purchase_cost_oku: 0.31164212
not_issuer_cancelled: はい
not_confirmed_by_CVC: はい
old_holder_shares_sold_to_funded_SIF: 721676.338
SIF_share_purchase_quantity: 791248.333
SIF_purchase_execution_price_eur_assumed: 39.3861329
external_shares_outside_cohort_before_trade_raw: 95264172.236
external_coverage_raw_unrestricted_stock_multiple: 120.397312
outside_only_raw_quantity_feasible: はい
outside_only_genuinely_saleable_lockup_adjusted_feasibility: unverified
SIF_purchase_cash_paid_by_company_oku: 0.31164212
SIF_purchase_is_issuer_cancellation: いいえ
SIF_acquired_shares_assumed_delivered_to_employee_no_issuer_stock_change: はい
seller_policy_scenario_assumed: pro_rata
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

内容を開く

想定日: 2036-07-30
year: 9.730321697467
金額: 0
種類: assumed_dividend_declaration
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.622728321
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

内容を開く

想定日: 2036-08-20
year: 9.787816563997
金額: 0
種類: assumed_dividend_ex_date
date_status: scenario_assumption
dividend_leg: interim
assumed_dps_eur: 0.622728321
record_date: 2036-08-21
payment_date: 2036-09-15
fresh_buyer_after_ex_not_entitled: はい
holder_shares_eligible_at_ex_date: 987461841.256
issued_shares_eligible_at_ex_date: 1083447689.83
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

内容を開く

想定日: 2036-08-21
year: 9.790554414784
金額: 0
種類: assumed_dividend_record_date
date_status: scenario_assumption
dividend_leg: interim
disclosure_not_yet_made: はい
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

内容を開く

想定日: 2036-09-15
year: 9.859000684463
金額: 6.149204545
種類: cash_dividend_to_old_holder
date_status: scenario_assumption
dividend_leg: interim
ex_date: 2036-08-20
assumed_dps_eur: 0.622728321
company_dividend_cash_outflow_oku: 6.746935608
old_holder_remaining_shares_today: 987461841.256
ordinary_issued_after_event: 1083447689.83
old_cohort_shares_after_event: 987461841.256

内容を開く

想定日: 2036-10-15
year: 9.941136208077
金額: 1.325489689
種類: issuer_buyback_pro_rata_tender
date_status: scenario_assumption
buyback_budget_oku: 1.454333405
buyback_class: new_future_authorization_unannounced
buyback_execution_price_eur_assumed: 40.80658
company_cash_paid_oku: 1.454333405
issuer_shares_cancelled: 3563967.879
old_holder_shares_tendered: 3248225.38
old_holder_fraction_pre_buyback: 0.911407030099
ordinary_issued_after_event: 1079883721.951
old_cohort_shares_after_event: 984213615.876

annual_full_year_terminal_runrate

内容を開く

fee_revenue_oku: 44.047997013
fpaum_end_billion_eur: 480.206555261
fee_margin_excluding_SBC: 0.595
gross_carry_oku: 10.952
gross_investment_income_oku: 6.114393144
sbc_annual_oku: 0.366755678
DA_full_year_oku: 1.948330644
maintenance_capex_full_year_oku: 0.28
GP_commitment_net_investment_full_year_oku: 0.58

audit_residuals

内容を開く

income_statement: 0
parent_equity: 0
nci_equity: 0
gross_debt: 0
restricted_NCI_cash: 0
cash: 0
発行済株式数: 0
old_holder_shares: 0
holder_cash: 0
GP_owner_NAV: 0
carry_receivable: 0
total_balance_proxy: 0

old_holder_economics

内容を開く

initial_cost_oku: 150.755256596
initial_old_cohort_shares: 1042567473
assumed_pro_rata_response_to_issuer_buybacks: はい
assumed_pro_rata_sale_into_company_funded_SIF_market_purchase: はい
new_stock_subscriptions_by_old_holders: 0
terminal_issued_shares: 1079883721.951
terminal_old_cohort_shares: 984213615.876
terminal_old_cohort_fraction: 0.911407030099
terminal_issuer_full_equity_value_oku: 382.489288606
terminal_old_cohort_mcap_oku: 348.603426573
ten_year_old_holder_dividends_oku: 84.439900736
ten_year_pro_rata_tender_cash_oku: 11.983515894
ten_year_company_funded_SIF_market_sale_cash_oku: 2.618769235
cashflow_irr: 0.133090614543
fair_value_pv_at_k_oku: 179.00630863
fair_value_eur_per_initial_share: 17.169757667
margin_of_safety_vs_entry: 0.187396796

terminal_valuation

内容を開く

方法

fee_franchise_and_carry_two_stage_perpetuity_DCF_plus_GP_NAV_plus_receivable_minus_net_financial_debt

all_assets_owned_by_old_holder_cohort_without_NCI_double_count

はい

discount_fee_equity_unlevered_proxy

0.11

discount_riskier_carry_business

0.16

fee_assumed_perpetual_growth

0.034

carry_assumed_perpetual_growth

0.025

normalized_2037_full_year_fee_revenue_oku

45.545628911

normalized_2037_fee_cash_earnings_after_cash_reinvestment_and_SBC_oku

20.540271518

fee_franchise_terminal_EV_oku

270.266730501

2037_normalized_gross_carry_oku

11.2258

2037_normalized_carried_interest_cash_share_after_compensation_tax_oku

3.6596108

2037_carry_cash_flow_method

C2037_issued_group_entitlement * cash_collection_ratio - C2037*model_internal_cash_bonus - 20pct*(C2037 - bonus); no cash from 2026-2036 receivable in this perpetual stream

risk_adjusted_carry_franchise_EV_oku

27.108228148

GP_NAV_owner_book_oku

36.234034103

GP_NAV_value_after_haircut_oku

37.683395467

carry_receivable_book_proxy_oku

7.760798054

carry_receivable_recovery_oku

5.753695109

carry_receivable_pre_cutoff_and_2026_2036_vintages

内容を開く

vintage: opening_2026_11_06_proxy
remaining_uncollected_oku: 2.4
cash_partner_compensation_paid_at_accrual_assumed_oku: 未確認
cash_corporate_tax_paid_at_accrual_assumed_oku: 未確認
prior_accrual_period_cash_cost_settlement: unknown_not_demonstrated_by_primary_sources

内容を開く

vintage: 2026
remaining_uncollected_oku: 0.063287671
recognized_ifrs_carry_oku: 0.52739726
collected_current_vintage_oku: 0.464109589
company_additional_partner_bonus_cost_accrued_oku: 0.305890411
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 0.305890411
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.039871233
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2027
remaining_uncollected_oku: 0.4736
recognized_ifrs_carry_oku: 9.472
collected_current_vintage_oku: 8.9984
company_additional_partner_bonus_cost_accrued_oku: 5.02016
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 5.02016
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.890368
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2028
remaining_uncollected_oku: 0.8732
recognized_ifrs_carry_oku: 17.464
collected_current_vintage_oku: 16.5908
company_additional_partner_bonus_cost_accrued_oku: 9.25592
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 9.25592
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 1.641616
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2029
remaining_uncollected_oku: 0.9472
recognized_ifrs_carry_oku: 18.944
collected_current_vintage_oku: 17.9968
company_additional_partner_bonus_cost_accrued_oku: 10.04032
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 10.04032
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 1.780736
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2030
remaining_uncollected_oku: 0.3478
recognized_ifrs_carry_oku: 6.956
collected_current_vintage_oku: 6.6082
company_additional_partner_bonus_cost_accrued_oku: 3.68668
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 3.68668
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.653864
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2031
remaining_uncollected_oku: 0.37
recognized_ifrs_carry_oku: 7.4
collected_current_vintage_oku: 7.03
company_additional_partner_bonus_cost_accrued_oku: 3.922
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 3.922
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.6956
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2032
remaining_uncollected_oku: 0.3996
recognized_ifrs_carry_oku: 7.992
collected_current_vintage_oku: 7.5924
company_additional_partner_bonus_cost_accrued_oku: 4.23576
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 4.23576
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.751248
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2033
remaining_uncollected_oku: 0.4366
recognized_ifrs_carry_oku: 8.732
collected_current_vintage_oku: 8.2954
company_additional_partner_bonus_cost_accrued_oku: 4.62796
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 4.62796
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.820808
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2034
remaining_uncollected_oku: 0.4736
recognized_ifrs_carry_oku: 9.472
collected_current_vintage_oku: 8.9984
company_additional_partner_bonus_cost_accrued_oku: 5.02016
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 5.02016
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.890368
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2035
remaining_uncollected_oku: 0.5106
recognized_ifrs_carry_oku: 10.212
collected_current_vintage_oku: 9.7014
company_additional_partner_bonus_cost_accrued_oku: 5.41236
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 5.41236
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.959928
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

内容を開く

vintage: 2036
remaining_uncollected_oku: 0.465310383
recognized_ifrs_carry_oku: 9.30620765
collected_current_vintage_oku: 8.840897268
company_additional_partner_bonus_cost_accrued_oku: 4.932290055
company_additional_partner_bonus_cash_paid_same_period_assumed_oku: 4.932290055
income_tax_on_carry_after_bonus_expensed_and_cash_paid_same_period_assumed_oku: 0.874783519
collection_of_prior_vintages_assumed_oku: 0
状態: scenario_assumption_not_issuer_vintage_disclosure

carry_receivable_vintage_book_reconciles

はい

old_vintage_nominal_recovery_fraction_2037_assumed

0.86

old_vintage_assumed_cash_collection_date_for_valuation_only

2037-11-06

old_vintage_nominal_receipts_2037_oku

6.674286326

old_vintage_discount_years_after_2036_terminal

old_vintage_discount_rate

0.16

old_vintage_cash_partner_bonus_incremental_after_2036_base_oku

old_vintage_cash_corporate_tax_incremental_after_2036_base_oku

old_vintage_no_extra_expense_base_reason

modeled staff bonus and income tax cash paid at annual IFRS accrual; source does not confirm actual cash timing

old_vintage_stress_if_partner_cost_unpaid_oku

3.049458408

old_vintage_stress_if_both_partner_and_tax_unpaid_oku

3.590305748

new_2037_carry_gross_IFRS_entitlement_oku

11.2258

new_2037_carry_same_vintage_cash_receipt_oku

10.66451

new_2037_carry_company_partner_bonus_cash_assumed_oku

5.949674

new_2037_carry_corporate_tax_cash_assumed_oku

1.0552252

new_2037_carry_prior_vintage_collections_in_carry_EV_oku

new_post_2037_vintage_receivables_value_in_carry_EV_oku

legacy_vintage_recovery_not_in_new_carry_EV

はい

company_cash_end_oku

61.010624608

NCI_restricted_cash_excluded_from_terminal_owner_oku

0.450789599

owner_accessible_cash_at_terminal_oku

60.559835009

gross_debt_end_oku

18.882595628

valuation_of_enterprise_to_owner_before_pro_rata_factor_oku

382.489288606

old_cohort_fraction_at_terminal

0.911407030099

old_holder_terminal_value_oku

348.603426573

2037_fees_derived_from_2036_full_year_rather_than_311day_partial

はい

2037_SBC_annual_expense_and_no_dilution_proxy_oku

0.379225371

2037_assumed_SIF_cash_market_replenishment_oku

0.379225371

2037_non_cash_SBC_addback_oku

0.379225371

2037_fee_cash_earnings_bridge_check_oku

20.540271518

terminal_after_2036_date_cash_returns_excluded

はい

carry_old_vintage_cost_leakage_terminal_only_stress

内容を開く

base_pv_oku: 5.753695109
unpaid_partner_pv_oku: 2.704236701
unpaid_partner_and_tax_pv_oku: 2.163389361
unpaid_tax_only_pv_oku: 4.602956087
one_more_year_recovery_delay_pv_oku: 4.96008199

market_PER_not_used

はい

pv_at_common_k

内容を開く

cash_receipts_oku: 56.251130733
discounted_terminal_old_cohort_oku: 122.755177897
total_oku: 179.00630863
cashflow_irr: 0.133090614543

audit

内容を開く

eleven_fiscal_periods: 11
elapsed_calendar_days: 3653
terminal_discount_years_fixed_to_site: 10.001368925394
dated_terminal_events_in_timed_cashflows: 0
zero_amount_revaluation_triggers: 82
parent_NI_sum_check_oku: 179.117887013
old_holder_payout_equals_cash_events_check_oku: 99.042185865
period_equation_max_error: 0

売上高

61.144390155937

営業利益

35.185305045099

純利益

25.377911052336

equity_oku

105.112220823

multiple

segment_operating_profit_status

not_estimated

やや強気（確率 20.0%）

投資環境・運用資産・成功報酬・持分希薄化に関する仮定

確率の根拠

ケース確率は分析上の仮定です。

このシナリオの数値・キャッシュフローを開く →

中立（確率 36.0%）

投資環境・運用資産・成功報酬・持分希薄化に関する仮定

確率の根拠

ケース確率は分析上の仮定です。

このシナリオの数値・キャッシュフローを開く →

やや弱気（確率 22.0%）

投資環境・運用資産・成功報酬・持分希薄化に関する仮定

確率の根拠

ケース確率は分析上の仮定です。

このシナリオの数値・キャッシュフローを開く →

弱気（確率 10.0%）

投資環境・運用資産・成功報酬・持分希薄化に関する仮定

確率の根拠

ケース確率は分析上の仮定です。

このシナリオの数値・キャッシュフローを開く →

単位の説明

all_company_and_old_cohort_money: 億EUR = EUR 100,000,000
listed_ordinary_price: EUR/share
株数: ordinary shares, sometimes fractional in theoretical pro-rata tenders
fee_paying_AUM: billion EUR
growth_probability_discount: decimal fractions
cashflow_timing: actual days elapsed / 365.25 for both dated and terminal 2036-11-06; T=3653/365.25
2026_partial_days: 55
2036_partial_days: 311

事業の詳細

fee_model: 契約上のファンド規模・投資残高に応じた管理報酬 + 追随手数料。基礎にはFPAUMと実効報酬率、戦略別ミックスを使用。
performance_model: IFRS carryは会社自身の契約上の取得権利であり、グループ外LP II Holdings等のother-party carryはIFRS売上から既に除外（2025年報note3）。別途会社人件費が連動する可能性を保守的にシナリオ仮定し、税・費用は発生期に現金支払済みと仮定（実際の支払時期不明）。未収残は契約資産と区別。
investment_income_model: GP/共同投資のFVTPL評価額は現金配当ではない。親会社に帰属する評価益はNAVに蓄積し終価NAVのみ計上、同じ評価益をcarried interest DCFにも加算しない。
subco_model: Marathon SubCo units are economically outstanding since July 2026 but not confirmed converted to AMS ordinary. Forecast conversion dates hypothetical and units are NCI until converted.
consolidation: IFRS revenue includes fund-related investment and NCI, and 2026 H1 NCI profit €53m. Parent profit after SBC only used for net_sum.

競争力の詳細

business_understandability

0.7

competitive_moat

0.75

management_capital_allocation

0.55

reported_earnings_reliability

0.45

leverage_and_balance_sheet

0.48

owner_cash_conversion

0.55

scores_status

subjective_0_to_1_valuation_analyst_not_company_fact

main_operating_risks

内容を開く

1: fundraising/recession cycle
2: carry recognition vs distribution
3: FX and interest rates
4: valuation of level-3 fund investments
5: Marathon integration and earnout
6: employee compensation and SIF
7: future ordinary-equivalent SubCo/DIF share issues
8: key people and governing partner incentives

業界の詳細

classification

global alternative asset manager

moat_drivers

内容を開く

1: long locked-up institutional mandates
2: proprietary origination network
3: distribution and fundraising access
4: multi-strategy scale
5: historic fund performance reputation

disruption

内容を開く

1: fee compression from competition
2: private market NAV markdowns
3: LP denominator effect
4: credit default cycle
5: long exits before carry cash realization

LP_gross_IRR_not_CVC_equity_IRR

はい

財務・資本配分の詳細

asof_market_value_oku

150.755256596

June_2026_IFRS_net_debt_oku

11.99

June_2026_pro_forma_owner_adjusted_net_debt_oku

15.88

June_2026_fund_NCI_equity_oku

6.67

June_2026_forward_dif_liability_oku

4.2

2026_ytd_program_max_oku

3.5

2026H1_repurchased_oku

1.94

2026H1_repurchased_shares

16535127

Sep30_additional_cancelled_shares

3881892

July_to_Sep_cash_cost_exact

未確認

July_to_Sep_cash_cost_null_reason

AFM supplies voting shares, not actual aggregate repurchase cash. Individual issuer weekly PDFs available but not independently summed; no post-cut buyback included in t0.

future_buybacks_2027_within_old_program_assumption

assumed max 1.06oku vs 350m programme after approximation of Sept spending, not factual remaining

sbc_H1_IFRS_charge_and_equity_credit_oku

0.13

sbc_treated_in_earnings_expense

はい

2026H1_company_reported_one_off_SIF_delivery_no_dilution

はい

2026H1_SIF_on_account_shares_book_value_oku

0.26

SIF_2028on_company_funded_replenishment_cash_assumed_equal_SBC_charge

はい

SIF_2027_replenishment_held_stock_assumption

はい

employee_SIF_holding_shares_asof

未確認

employee_SIF_holding_unknown_reason

€26m group-on-account SIF stock value June 2026 verified, not exact beneficial share count as at Nov6

marathon_cash_paid_Jul_2026_usd_m

418

marathon_cash_paid_asof_valuation_already_closed

はい

marathon_100pct_operating_acquisition_closed_on

2026-07-01

marathon_100pct_control_does_not_mean_100pct_parent_economic_ownership_while_SubCo_units_outstanding

はい

marathon_ordinary_exchange_subject_to_lockup_according_to_original_announcement

はい

marathon_initial_subco_nonadjustable_component_reference_not_guaranteed_floor_shares

34000000

marathon_initial_subco_performance_adjustable_shares_max

11000000

marathon_new_base_subco_exchangeable_shares_max

45000000

marathon_earnout_additional_subco_exchangeable_shares_max

11000000

marathon_earnout_cash_usd_m_max

200

marathon_subco_ordinary_exchange_date_asof

未確認

marathon_exchange_null_reason

issue by wholly owned subsidiary does not mean issued Amsterdam ordinary shares until exchange. Timing and quantity not disclosed as fixed.

dif_remaining_interest_percent

0.39

dif_future_share_settlement_years

1: 2027
2: 2029

dif_annualized_share_count_Jun2026_proxy

33045000

employee_share_grant_is_never_direct_cash_receipt

はい

pro_rata_sale_into_company_funded_SIF_counts_as_actual_oldholder_market_cash

はい

terminal_NCI_scope

Fund NCI-owned NAV and separately tracked NCI-retained cash excluded from terminal owner valuation; Marathon SubCo economics shifted to new shares after conversion, not double-accreted.

SIF_cash_purchase_seller_assumption

2028 onward company-funded SIF market acquisitions assumed to have seller mix pro rata to existing issued shares, including original cohort; old-cohort actual cash receipts booked, shares sold leave cohort, issuer shares not cancelled. External-only sales sensitivity is conditional on unknown lockup adjusted float and not verified as company conduct.

SIF_cash_purchase_timing_assumption

2027 existing group-account SIF stock funds awards; June 2028 onward replenishment cost equals annual SBC expense by company cash, no net new issuer ordinary issue. Annual SIF market price and option strike economics not confirmed.

評価根拠の詳細

independent_of_market_per_for_terminal: はい
spot_used_only_initial_cost_and_future_buyback_execution_price_scenario: はい
2025_statutory_non_cash_DIF_gain_oku: 3.3438
2025_profit_without_that_gain_before_tax_rough_oku: 8.48726
2025_reported_profit_not_uncritically_capitalized: はい
2026H1_parent_IFRS_oku: 3.57
2026H1_adjusted_PAT_oku: 4.34
2026H1_adjusted_PAT_not_parent_IFRS: はい
2026Q3_activity_not_IFRS_PNL: はい
Marathon_FPAUM_not_double_added: はい
old_five_year_payout_used_in_10yr: いいえ
cashflows_exclude_terminal_value: はい
terminal_discount_is_elapsed_days_over_365_25: はい
carry_corporate_entitlement_is_not_other_party_partner_carry: はい

分析基準とデータ

価格・単価

14.46

株数

1042567473

時価総額（億）

150.755256596

initial_cohort_investment_oku

150.755256596

last_verified_ifrs_financial_reporting_date

2026-06-30

latest_operating_report_date

2026-09-30

asof_2026_11_06_balance_sheet_status

unverified_proxy_not_reported_company_financials

asof_financial_proxy_oku

内容を開く

parent_equity: 16
NCI_equity_after_marathon_subco_placeholder: 12.67
adjusted_owner_accessible_cash: 6.15
NCI_restricted_cash_initial_placeholder: 0
consolidated_gross_borrowings: 22.33
adjusted_owner_GP_investment_NAV: 10.47
NCI_owned_GP_NAV: 7.78
DIF_future_equity_forward_liability: 4.2
owner_carried_interest_receivable_proxy: 2.4

reported_ifrs

内容を開く

2025_12_31

内容を開く

状態: audited_company_2025_fy_report
ifrs_management_fees_oku: 14.49544
ifrs_fee_related_performance_revenue_oku: 0.14377
ifrs_carried_interest_oku: 2.53243
ifrs_investment_income_oku: 1.34249
ifrs_total_revenue_oku: 18.53447
ifrs_forward_liability_non_cash_fv_gain_oku: 3.3438
ifrs_parent_net_profit_oku: 11.83106
ifrs_noncontrolling_net_profit_oku: 0.39176
ifrs_consolidated_net_profit_oku: 12.22282
adjusted_mfe_oku: 8.35
adjusted_pre_oku: 2.54
adjusted_pat_oku: 8.73
ordinary_shares: 1062984492
自己株式数: 0

2026_06_30

内容を開く

状態: published_unaudited_IAS34_as_issued_2026_07_29
management_fees_oku: 7.73
fee_related_performance_revenue_oku: 0.04
total_fee_revenue_oku: 7.77
carried_interest_oku: 0.96
investment_income_oku: 1.24
other_income_oku: 0.02
売上高: 9.99
personnel_expenses_oku: 3.12
general_and_administrative_expenses_oku: 1.25
forward_liability_gain_non_cash_oku: 0.23
EBITDA_oku: 5.85
depreciation_amortization_oku: 0.89
営業利益（億）: 4.96
net_financing_expense_oku: 0.19
profit_before_tax_oku: 4.77
tax_expense_oku: 0.67
consolidated_net_income_oku: 4.1
nci_profit_oku: 0.53
parent_ifrs_profit_after_sbc_oku: 3.57
total_parent_equity_oku: 15.78
非支配持分資本（億）: 6.67
cash_ifrs_oku: 10.34
gross_borrowings_oku: 22.33
forward_liability_dif_oku: 4.2
investments_ifrs_oku: 18.25
investments_adjusted_owner_oku: 10.47
investments_nci_excluded_from_adjusted_oku: 7.78
cash_adjusted_marathon_as_if_paid_oku: 6.45
carried_interest_receivable_oku: 3.29
cfo_oku: 2.41
carry_cash_received_oku: 0.8
ppe_capex_paid_oku: 0.05
investments_purchased_oku: 2.9
investments_sold_oku: 2.59
net_capital_share_buyback_oku: 1.94
shares_bought_and_cancelled: 16535127
dividends_paid_to_parent_oku: 2.5
nci_dividends_paid_oku: 0.44
nci_contributions_received_oku: 0.26
noncash_sbc_equity_credit_oku: 0.13
adjusted_fre_oku: 4.42
adjusted_pre_oku: 1.1
adjusted_PAT_oku: 4.34
weighted_avg_basic_shares: 1054447000
adjusted_eps_denominator_incl_future_dif_and_ltip: 1092255609
diluted_dif_forward_shares_proxy: 33045000

2026_09_30

内容を開く

状態: company_q3_activity_and_regulator_shares_not_financial_accounts
fpaum_billion_eur: 176.6
fpaum_2025_09_billion_eur: 142.1
fpaum_from_marathon_billion_eur: 18.4
fpaum_organic_yoy_growth: 0.11
ordinary_voting_shares_regulator_dated: 1042567473
share_count_authority: AFM issuance register Sept30 transaction entry; live webpage updated after valuation date; proxy for Nov6
q3_ifrs_profits: 未確認
q3_ifrs_profit_null_reason: 29 Oct Q3 Activity Update is not IAS34 IFRS quarterly accounts

2026_11_06

内容を開く

price_eur: 14.46
株価の出所: FT historical Amsterdam Nov6 16:35 GMT, secondary exchange close
ordinary_shares_asof_exact: 未確認
ordinary_shares_proxy_sep30: 1042567473
market_cap_oku_proxy: 150.755256596
company_issued_shares_oct_nov_unknown: はい

FY2026_first_partial_projection_method

2026-11-07..12-31=55/365 of forecast FULL 2026 run-rate. H1 confirmed historical income not repeated in net_sum; source IFRS statements separate.

price_details

内容を開く

price_eur: 14.46
株価基準日: 2026-11-06
venue: Euronext Amsterdam ordinary closing price as replicated by FT; exchange official day file not obtained
状態: 2026-11-06_secondary_market_price_verified
source_id: closing_price

shares_details

内容を開く

reported_2025_12_31_issued: 1062984492
reported_first_half_2026_cancelled: 16535127
derived_2026_06_30_issued: 1046449365
AFM_regulator_2026_09_30_issued: 1042567473
sep30_additional_cancelled_since_jun30: 3881892
ordinary_issued_asof_2026_11_06_exact: 未確認
asof_exact_reason: No primary share-count record for Nov6; Sep30 AFM dated register as proxy. Regulator webpage last-updated after Nov6; underlying filing release timestamp unverified.
estimated_effective_ordinary_shares_for_valuation: 1042567473
trust_treasury_excluded_asof_exact: 未確認
source_id: regulator_share_count
valuation_denominator_status: latest_regulator_dated_proxy_not_exact_asof

株価の出所

FT 2026-11-06 Amsterdam終値14.46 EUR。取引所原票未確認。

株数の出所

2026-09-30規制当局の発行済株1,042,567,473株を代理使用。11/06時点と開示時刻は未確認。

検証上の留意点

model_level: scenario model, not financial reporting for 2026Q3 or Nov6
all_money_oku: はい
days_first: 55
days_last: 311
days_total: 3653
number_scenarios: 5
ledger_rows: 55
terminal_cashflow_in_timed_events: いいえ
expected_IRR_not_average_case_IRRs: はい
SBC_not_cash_receipt: はい
NCI_not_parent_income: はい
dividends_before_asof_excluded: はい
discounted_value_asof_11pct_under_uncertain_inputs: はい
terminal_date_discount_fraction: 10.001368925394
expected_IRR_uses_same_terminal_fraction_as_timed_cashflows: はい
legacy_carry_not_in_future_carry_EV: はい
SIF_company_market_cash_oldholder_receipts_not_employee_stock_award: はい

追加データ・検証記録

分析ごとに収録された追加の前提、年度別データ、検証上の注意を確認できます。

追加データを開く →

分析に使用した資料

markets.ft.markitdigital.com 2026-11-06
www.afm.nl 2026-09-30
www.cvc.com 2026-07-30
cdn.financialreports.eu 2026-07-30
www.cvc.com 2026-03-11
www.cvc.com 2026-03-11
www.cvc.com 2026-10-29
www.cvc.com 2026-03-11
www.cvc.com 2026-01-26
www.cvc.com 2026-09-18
www.cvc.com 2026-07-30
www.cvc.com 2026-10-27

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