Financials Adtec Plasma Technology Co., Ltd.

Equities

6668

JP3122010006

Semiconductor Equipment & Testing

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,298 ^JPY	-0.31%		-0.23%	-29.11%

2023	Tranche Update on Adtec Plasma Technology Co., Ltd.'s Equity Buyback Plan announced on November 28, 2023.	CI
2023	Adtec Plasma Technology Co., Ltd.'s Equity Buyback announced on November 28, 2023, has closed with 50,000 shares, representing 0.58% for ¥80.2 million.	CI

Valuation

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,760	9,829	14,430	14,871	14,411	11,141	-	-
Enterprise Value (EV) ¹	6,757	11,333	15,836	19,995	23,097	11,141	11,141	11,141
P/E ratio	16.4 x	15.1 x	16.5 x	6.84 x	8.58 x	7.04 x	5.74 x	5 x
Yield	1.19%	0.87%	0.71%	0.81%	1.19%	1.54%	1.85%	2.16%
Capitalization / Revenue	0.95 x	1.38 x	1.8 x	1.21 x	1.15 x	0.96 x	0.84 x	0.75 x
EV / Revenue	0.95 x	1.38 x	1.8 x	1.21 x	1.15 x	0.96 x	0.84 x	0.75 x
EV / EBITDA	8.1 x	9.55 x	11.1 x	4.94 x	5.62 x	4.38 x	3.7 x	3.28 x
EV / FCF	-	-21.7 x	-35.1 x	-4.52 x	-4.19 x	9.08 x	7.79 x	7.25 x
FCF Yield	-	-4.61%	-2.85%	-22.1%	-23.8%	11%	12.8%	13.8%
Price to Book	1.06 x	1.64 x	2.11 x	1.63 x	1.33 x	0.91 x	0.79 x	0.7 x
Nbr of stocks (in thousands)	8,584	8,584	8,584	8,576	8,583	8,583	-	-
Reference price ²	671.0	1,145	1,681	1,734	1,679	1,298	1,298	1,298
Announcement Date	10/11/19	10/14/20	10/13/21	10/14/22	10/13/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,055	7,136	8,003	12,337	12,498	11,600	13,200	14,800
EBITDA ¹	711.3	1,030	1,304	3,008	2,564	2,545	3,012	3,397
EBIT ¹	569	874	1,102	2,735	2,247	2,100	2,600	3,000
Operating Margin	9.4%	12.25%	13.77%	22.17%	17.98%	18.1%	19.7%	20.27%
Earnings before Tax (EBT)	515	886	1,159	3,051	2,293	-	-	-
Net income ¹	352	648	875	2,174	1,678	1,582	1,942	2,229
Net margin	5.81%	9.08%	10.93%	17.62%	13.43%	13.64%	14.71%	15.06%
EPS ²	41.01	75.60	102.0	253.6	195.7	184.3	226.2	259.7
Free Cash Flow ¹	-	-453	-411.6	-3,293	-3,436	1,227	1,430	1,536
FCF margin	-	-6.35%	-5.14%	-26.69%	-27.49%	10.58%	10.83%	10.38%
FCF Conversion (EBITDA)	-	-	-	-	-	48.21%	47.48%	45.22%
FCF Conversion (Net income)	-	-	-	-	-	77.56%	73.64%	68.91%
Dividend per Share ²	8.000	10.00	12.00	14.00	20.00	20.00	24.00	28.00
Announcement Date	10/11/19	10/14/20	10/13/21	10/14/22	10/13/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: August	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 S2
Net sales ¹	3,437	3,699	3,623	4,380	2,887	2,922	5,809	3,114	3,414	6,528	3,036	2,831	5,867	3,518	3,113	6,631	2,404	2,380	4,784	3,000	3,200	6,200	3,000	3,200	6,200	3,400	7,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	437	437	444	658	619	617	1,236	756	743	1,499	580	359	939	703	605	1,308	174	185	359	600	750	1,350	500	600	1,100	700	1,500
Operating Margin	12.71%	11.81%	12.26%	15.02%	21.44%	21.12%	21.28%	24.28%	21.76%	22.96%	19.1%	12.68%	16%	19.98%	19.43%	19.73%	7.24%	7.77%	7.5%	20%	23.44%	21.77%	16.67%	18.75%	17.74%	20.59%	21.43%
Earnings before Tax (EBT)	504	-	479	680	645	653	1,298	900	853	1,753	605	205	810	762	-	-	209	-	338	-	-	-	-	-	-	-	-
Net income ¹	368	-	355	520	463	482	945	621	608	1,229	470	123	593	560	525	1,085	114	50	164	450	558	1,007	377	449	827	521	1,115
Net margin	10.71%	-	9.8%	11.87%	16.04%	16.5%	16.27%	19.94%	17.81%	18.83%	15.48%	4.34%	10.11%	15.92%	16.86%	16.36%	4.74%	2.1%	3.43%	15%	17.44%	16.24%	12.57%	14.03%	13.34%	15.32%	15.93%
EPS ²	42.96	-	41.44	60.52	54.01	56.19	110.2	72.43	70.93	143.4	54.84	14.30	69.14	65.37	61.15	126.5	13.31	5.930	19.24	52.40	65.00	117.3	44.00	52.40	96.30	60.70	129.9
Dividend per Share ²	4.000	-	5.000	7.000	-	6.000	6.000	-	8.000	8.000	-	8.000	8.000	-	12.00	12.00	-	-	10.00	-	10.00	10.00	-	12.00	12.00	-	12.00
Announcement Date	4/10/20	10/14/20	4/9/21	10/13/21	1/13/22	4/13/22	4/13/22	7/13/22	10/14/22	10/14/22	1/13/23	4/14/23	4/14/23	7/14/23	10/13/23	10/13/23	1/12/24	4/12/24	4/12/24	-	-	-	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	997	1,504	1,407	5,124	8,686	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.402 x	1.461 x	1.079 x	1.703 x	3.388 x	-	-	-
Free Cash Flow ¹	-	-453	-412	-3,293	-3,436	1,227	1,430	1,536
ROE (net income / shareholders' equity)	6.6%	11.3%	13.6%	27.2%	16.8%	13.7%	14.8%	14.9%
ROA (Net income/ Total Assets)	5.29%	8.4%	9.54%	18.1%	9.54%	-	-	-
Assets ¹	6,657	7,717	9,171	12,023	17,593	-	-	-
Book Value Per Share ²	633.0	700.0	796.0	1,067	1,266	1,431	1,633	1,865
Cash Flow per Share	57.60	93.60	125.0	285.0	233.0	-	-	-
Capex ¹	292	387	197	1,674	1,884	749	852	955
Capex / Sales	4.82%	5.43%	2.46%	13.57%	15.07%	6.46%	6.45%	6.45%
Announcement Date	10/11/19	10/14/20	10/13/21	10/14/22	10/13/23	-	-	-

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

Ratings for Adtec Plasma Technology Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,298 JPY

Average target price

2,240 JPY

Spread / Average Target

+72.57%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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