Financials Fujitsu Limited

Equities

6702

JP3818000006

IT Services & Consulting

Market Closed - Japan Exchange 02:00:00 2024-04-26 am EDT 5-day change 1st Jan Change
2,426 JPY -2.30% Intraday chart for Fujitsu Limited -0.92% +14.01%

Valuation

Fiscal Period: Maart 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,618,641 1,953,446 3,184,037 3,618,813 3,359,071 4,461,188 - -
Enterprise Value (EV) 1 1,518,168 1,907,158 3,018,530 3,420,112 3,214,345 4,483,432 4,195,614 4,065,969
P/E ratio 15.6 x 12.3 x 15.8 x 19.9 x 16.1 x 18.4 x 16.9 x 15.7 x
Yield 1.88% 1.85% 1.25% 1.19% 1.35% 1.07% 1.16% 1.29%
Capitalization / Revenue 0.41 x 0.51 x 0.89 x 1.01 x 0.9 x 1.22 x 1.2 x 1.13 x
EV / Revenue 0.38 x 0.49 x 0.84 x 0.95 x 0.87 x 1.19 x 1.13 x 1.03 x
EV / EBITDA 5.27 x 4.48 x 6.83 x 8.43 x 6.24 x 13 x 9.27 x 7.4 x
EV / FCF 15.9 x 8.18 x 12.8 x 18.1 x 18.1 x 29.5 x 14 x 16.1 x
FCF Yield 6.28% 12.2% 7.83% 5.53% 5.52% 3.39% 7.15% 6.21%
Price to Book 1.43 x 1.57 x 2.2 x 2.27 x 2.12 x 2.61 x 2.47 x 2.26 x
Nbr of stocks (in thousands) 2,026,849 2,002,508 1,990,023 1,965,144 1,883,415 1,839,286 - -
Reference price 2 798.6 975.5 1,600 1,842 1,784 2,426 2,426 2,426
Announcement Date 4/26/19 5/14/20 4/28/21 4/28/22 4/27/23 4/25/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Maart 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,952,437 3,857,797 3,589,700 3,586,800 3,713,700 3,756,000 3,713,483 3,943,301
EBITDA 1 288,333 425,520 442,152 405,577 514,842 345,824 452,566 549,142
EBIT 1 130,227 211,483 266,300 219,200 335,600 160,200 334,866 387,821
Operating Margin 3.29% 5.48% 7.42% 6.11% 9.04% 4.27% 9.02% 9.83%
Earnings before Tax (EBT) 1 161,785 228,564 291,800 239,900 371,800 178,180 376,120 409,690
Net income 1 104,562 160,042 202,700 182,600 215,100 254,400 250,470 273,623
Net margin 2.65% 4.15% 5.65% 5.09% 5.79% 6.77% 6.74% 6.94%
EPS 2 51.25 79.12 101.4 92.42 110.8 135.6 143.9 154.6
Free Cash Flow 1 95,274 233,057 236,386 189,080 177,520 151,982 299,900 252,633
FCF margin 2.41% 6.04% 6.59% 5.27% 4.78% 4.05% 8.08% 6.41%
FCF Conversion (EBITDA) 33.04% 54.77% 53.46% 46.62% 34.48% 43.95% 66.27% 46.01%
FCF Conversion (Net income) 91.12% 145.62% 116.62% 103.55% 82.53% 59.74% 119.73% 92.33%
Dividend per Share 2 15.00 18.00 20.00 22.00 24.00 26.00 28.10 31.25
Announcement Date 4/26/19 5/14/20 4/28/21 4/28/22 4/27/23 4/25/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2020 S1 2020 S2 2021 S1 2021 S2 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 Q4 2025 S2
Net sales 1 1,828,763 2,029,034 1,631,800 1,957,900 861,031 1,663,011 880,526 1,043,300 1,923,800 818,862 886,400 1,705,300 931,424 1,076,976 2,008,400 799,640 912,257 1,711,897 930,825 1,113,300 2,044,200 790,916 884,508 - 871,000 1,034,000 -
EBITDA 1 - - - - 93,046 - 110,068 124,396 - 70,285 118,038 - 115,260 211,259 - 37,683 87,534 - 49,507 171,100 - 52,705 87,760 - - - -
EBIT 1 71,060 140,423 62,200 204,100 47,744 81,483 65,185 72,500 137,600 25,602 75,367 100,900 72,316 162,329 234,700 -1,665 46,445 44,780 3,309 112,100 115,420 21,000 55,750 - 78,500 182,500 -
Operating Margin 3.89% 6.92% 3.81% 10.42% 5.54% 4.9% 7.4% 6.95% 7.15% 3.13% 8.5% 5.92% 7.76% 15.07% 11.69% -0.21% 5.09% 2.62% 0.36% 10.07% 5.65% 2.66% 6.3% - 9.01% 17.65% -
Earnings before Tax (EBT) 1 80,805 147,759 68,000 223,800 49,917 89,512 68,910 81,478 150,388 38,339 92,311 130,600 73,983 167,217 241,200 8,572 51,623 60,195 776 117,209 117,985 39,000 52,000 97,000 80,500 202,250 314,000
Net income 1 63,659 96,383 47,100 155,600 28,774 52,939 71,344 58,317 129,661 17,283 54,698 71,900 40,768 102,432 143,200 4,354 33,458 37,812 -11,728 228,300 216,590 19,767 32,246 53,503 52,962 138,788 207,924
Net margin 3.48% 4.75% 2.89% 7.95% 3.34% 3.18% 8.1% 5.59% 6.74% 2.11% 6.17% 4.22% 4.38% 9.51% 7.13% 0.54% 3.67% 2.21% -1.26% 20.51% 10.6% 2.5% 3.65% - 6.08% 13.42% -
EPS 2 31.41 47.71 23.53 77.85 14.52 26.68 36.07 29.67 65.74 8.795 27.83 36.62 20.92 53.22 - 2.312 17.76 20.07 -6.224 121.7 115.5 10.49 17.78 28.39 29.18 76.38 110.3
Dividend per Share 2 8.000 10.00 10.00 10.00 11.00 11.00 - 11.00 11.00 - 12.00 12.00 - 12.00 12.00 - 13.00 13.00 - 13.00 13.00 - 14.00 14.00 - 14.00 14.00
Announcement Date 10/29/19 5/14/20 10/27/20 4/28/21 10/27/21 10/27/21 1/27/22 4/28/22 4/28/22 7/29/22 10/27/22 10/27/22 1/31/23 4/27/23 4/27/23 7/27/23 10/26/23 10/26/23 1/31/24 4/25/24 4/25/24 - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 100,473 46,288 165,507 198,701 144,726 96,463 265,575 395,219
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 95,274 233,057 236,386 189,080 177,520 151,982 299,900 252,633
ROE (net income / shareholders' equity) 9.4% 13.5% 15.1% 12% 13.5% 15.2% 14.4% 15%
ROA (Net income/ Total Assets) 5.2% 7.26% 9.15% 7.36% 11.3% 5.26% 9.7% 8.16%
Assets 1 2,012,057 2,202,951 2,214,712 2,481,228 1,908,026 4,840,422 2,581,636 3,352,580
Book Value Per Share 2 559.0 620.0 729.0 809.0 843.0 953.0 982.0 1,073
Cash Flow per Share 2 129.0 185.0 189.0 187.0 203.0 234.0 187.0 218.0
Capex 1 120,637 132,970 128,771 143,251 121,000 195,839 138,160 140,320
Capex / Sales 3.05% 3.45% 3.59% 3.99% 3.26% 5.21% 3.72% 3.56%
Announcement Date 4/26/19 5/14/20 4/28/21 4/28/22 4/27/23 4/25/24 - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
2,426 JPY
Average target price
2,628 JPY
Spread / Average Target
+8.36%
Consensus
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