KUBOTA CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,245 JPY | +1.08% |
|
-1.56% | +5.77% |
| Apr. 18 | Kubota Board OKs Share Buyback of Up to 30 Billion Yen | MT |
| Apr. 17 | Kubota Corporation announces an Equity Buyback for 17,000,000 shares, representing 1.44% for ¥30,000 million. | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,105,597 | 2,692,046 | 3,042,694 | 2,160,720 | 2,493,899 | 2,609,634 | - | - |
| Enterprise Value (EV) 1 | 2,350,407 | 3,343,563 | 3,878,564 | 3,546,026 | 4,261,988 | 4,127,700 | 4,167,854 | 4,058,748 |
| P/E ratio | 14.2 x | 21.3 x | 17.5 x | 13.9 x | 10.5 x | 11.7 x | 11.1 x | 10.5 x |
| Yield | 2.09% | 1.6% | 1.64% | 2.42% | 2.26% | 2.4% | 2.6% | 2.82% |
| Capitalization / Revenue | 1.1 x | 1.45 x | 1.39 x | 0.81 x | 0.83 x | 0.85 x | 0.82 x | 0.8 x |
| EV / Revenue | 1.22 x | 1.8 x | 1.77 x | 1.32 x | 1.41 x | 1.35 x | 1.32 x | 1.24 x |
| EV / EBITDA | 8.91 x | 13.8 x | 12.2 x | 11.7 x | 9.77 x | 9.61 x | 9.24 x | 8.54 x |
| EV / FCF | -259 x | 34.9 x | -111 x | -10.9 x | 27.3 x | 13.5 x | 25.1 x | 20 x |
| FCF Yield | -0.39% | 2.86% | -0.9% | -9.2% | 3.66% | 7.41% | 3.98% | 4.99% |
| Price to Book | 1.46 x | 1.84 x | 1.83 x | 1.15 x | 1.15 x | 1.11 x | 1.05 x | 0.96 x |
| Nbr of stocks (in thousands) | 1,219,929 | 1,195,933 | 1,191,578 | 1,189,169 | 1,174,982 | 1,174,981 | - | - |
| Reference price 2 | 1,726 | 2,251 | 2,554 | 1,817 | 2,122 | 2,221 | 2,221 | 2,221 |
| Announcement Date | 2/14/20 | 2/15/21 | 2/14/22 | 2/14/23 | 2/14/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,920,042 | 1,853,234 | 2,196,766 | 2,678,772 | 3,020,711 | 3,056,010 | 3,168,750 | 3,263,826 |
| EBITDA 1 | 263,898 | 242,620 | 317,908 | 304,155 | 436,099 | 429,469 | 450,881 | 475,210 |
| EBIT 1 | 201,654 | 175,284 | 246,207 | 218,942 | 328,829 | 313,727 | 327,133 | 345,459 |
| Operating Margin | 10.5% | 9.46% | 11.21% | 8.17% | 10.89% | 10.27% | 10.32% | 10.58% |
| Earnings before Tax (EBT) 1 | 209,022 | 185,899 | 252,559 | 233,927 | 342,289 | 323,207 | 337,531 | 354,794 |
| Net income 1 | 149,061 | 128,524 | 175,637 | 156,182 | 238,455 | 221,523 | 232,804 | 245,136 |
| Net margin | 7.76% | 6.94% | 8% | 5.83% | 7.89% | 7.25% | 7.35% | 7.51% |
| EPS 2 | 121.6 | 105.8 | 145.5 | 130.8 | 201.7 | 189.1 | 199.3 | 211.0 |
| Free Cash Flow 1 | -9,060 | 95,786 | -34,859 | -326,179 | 156,168 | 305,900 | 165,767 | 202,556 |
| FCF margin | -0.47% | 5.17% | -1.59% | -12.18% | 5.17% | 10.01% | 5.23% | 6.21% |
| FCF Conversion (EBITDA) | - | 39.48% | - | - | 35.81% | 71.23% | 36.77% | 42.62% |
| FCF Conversion (Net income) | - | 74.53% | - | - | 65.49% | 138.09% | 71.2% | 82.63% |
| Dividend per Share 2 | 36.00 | 36.00 | 42.00 | 44.00 | 48.00 | 53.30 | 57.77 | 62.71 |
| Announcement Date | 2/14/20 | 2/15/21 | 2/14/22 | 2/14/23 | 2/14/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 S1 | 2025 S2 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 949,213 | 884,170 | - | 1,101,405 | 555,126 | 593,223 | 667,257 | 1,260,480 | 693,700 | 724,592 | 781,563 | 738,477 | 1,520,040 | 738,191 | 762,480 | 775,232 | 744,366 | 1,529,200 | 753,611 | 780,651 | 1,528,100 | - | - | - |
| EBITDA 1 | - | - | - | - | 53,371 | 84,992 | 75,917 | - | 83,438 | 59,808 | 128,607 | 107,223 | - | 101,289 | 105,349 | 131,222 | 98,642 | - | 103,396 | 104,042 | - | - | - | - |
| EBIT 1 | 90,707 | 81,670 | - | 147,548 | 34,704 | 66,372 | 54,631 | 121,003 | 62,429 | 35,510 | 103,248 | 81,326 | 184,574 | 74,283 | 76,341 | 102,950 | 79,757 | 181,600 | 72,606 | 68,438 | 141,300 | - | - | - |
| Operating Margin | 9.56% | 9.24% | - | 13.4% | 6.25% | 11.19% | 8.19% | 9.6% | 9% | 4.9% | 13.21% | 11.01% | 12.14% | 10.06% | 10.01% | 13.28% | 10.71% | 11.88% | 9.63% | 8.77% | 9.25% | - | - | - |
| Earnings before Tax (EBT) 1 | 94,382 | 84,421 | - | 149,409 | 38,771 | 73,566 | 58,021 | 131,587 | 64,371 | 37,969 | 105,495 | 86,346 | 191,841 | 76,531 | 73,917 | 106,119 | 86,500 | - | 77,900 | 62,481 | - | - | - | - |
| Net income 1 | 67,872 | 59,570 | - | 102,950 | 29,009 | 49,596 | 41,650 | 91,246 | 42,088 | 22,848 | 69,100 | 59,723 | 128,823 | 53,543 | 56,089 | 72,922 | 54,887 | - | 52,925 | 47,037 | - | - | - | - |
| Net margin | 7.15% | 6.74% | - | 9.35% | 5.23% | 8.36% | 6.24% | 7.24% | 6.07% | 3.15% | 8.84% | 8.09% | 8.47% | 7.25% | 7.36% | 9.41% | 7.37% | - | 7.02% | 6.03% | - | - | - | - |
| EPS 2 | - | 48.87 | - | 85.22 | 24.14 | 41.33 | 34.80 | 76.13 | 35.41 | 19.28 | 58.11 | 50.45 | 108.6 | 45.46 | 47.72 | 62.06 | 41.91 | - | 45.47 | 45.85 | - | - | - | - |
| Dividend per Share | - | 17.00 | 19.00 | 21.00 | 21.00 | - | 22.00 | 22.00 | - | 22.00 | - | 24.00 | 24.00 | - | - | - | - | 26.00 | - | - | 26.00 | 28.00 | 28.00 | 28.00 |
| Announcement Date | 2/14/20 | 8/4/20 | 2/15/21 | 8/3/21 | 2/14/22 | 5/12/22 | 8/3/22 | 8/3/22 | 11/9/22 | 2/14/23 | 5/12/23 | 8/4/23 | 8/4/23 | 11/8/23 | 2/14/24 | 5/10/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 244,810 | 651,517 | 835,870 | 1,385,306 | 1,768,089 | 1,518,067 | 1,558,220 | 1,449,114 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.9277 x | 2.685 x | 2.629 x | 4.555 x | 4.054 x | 3.535 x | 3.456 x | 3.049 x |
| Free Cash Flow 1 | -9,060 | 95,786 | -34,859 | -326,179 | 156,168 | 305,900 | 165,767 | 202,556 |
| ROE (net income / shareholders' equity) | 10.7% | 8.8% | 11.1% | 8.8% | 11.8% | 10% | 10.1% | 9.95% |
| ROA (Net income/ Total Assets) | 6.93% | 5.87% | 7.25% | 5.5% | 6.78% | 4.13% | 4.4% | 4.45% |
| Assets 1 | 2,151,878 | 2,187,698 | 2,421,077 | 2,839,120 | 3,514,770 | 5,359,443 | 5,287,163 | 5,508,674 |
| Book Value Per Share 2 | 1,183 | 1,222 | 1,398 | 1,584 | 1,852 | 1,995 | 2,124 | 2,311 |
| Cash Flow per Share 2 | 172.0 | 161.0 | 205.0 | 202.0 | 293.0 | 294.0 | 291.0 | 296.0 |
| Capex 1 | 112,263 | 84,753 | 125,723 | 194,139 | 172,480 | 190,000 | 145,100 | 137,603 |
| Capex / Sales | 5.85% | 4.57% | 5.72% | 7.25% | 5.71% | 6.22% | 4.58% | 4.22% |
| Announcement Date | 2/14/20 | 2/15/21 | 2/14/22 | 2/14/23 | 2/14/24 | - | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
2,221
JPY
Average target price
2,677
JPY
Spread / Average Target
+20.54%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +5.77% | 16.6B | |
| +10.14% | 56.35B | |
| +16.93% | 34.14B | |
| +27.87% | 29.23B | |
| +27.14% | 27.67B | |
| +8.46% | 24.24B | |
| +11.49% | 24.1B | |
| -13.30% | 13.28B | |
| +20.66% | 12.34B | |
| +19.52% | 10.04B |
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