Financials Izumi Co., Ltd.

Equities

8273

JP3138400001

Department Stores

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
3,629 ^JPY	-0.27%		+1.23%	+0.28%

Feb. 22	Japan Inc sees Trump presidency as business risk, Reuters poll shows	RE
Jan. 15	Izumi's Nine-Month Attributable Profit Falls Amid Higher Spending	MT

Valuation

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	362,593	212,323	281,972	229,801	212,773	259,540	-	-
Enterprise Value (EV) ¹	517,390	332,262	366,074	317,541	278,992	259,540	259,540	259,540
P/E ratio	15.4 x	10.6 x	12.2 x	9.91 x	9.17 x	12.1 x	11.5 x	10.5 x
Yield	1.58%	2.7%	2.11%	2.67%	2.92%	2.42%	2.51%	2.67%
Capitalization / Revenue	0.5 x	0.29 x	0.41 x	0.34 x	0.46 x	0.54 x	0.52 x	0.5 x
EV / Revenue	0.5 x	0.29 x	0.41 x	0.34 x	0.46 x	0.54 x	0.52 x	0.5 x
EV / EBITDA	7.09 x	4.42 x	5.46 x	4.52 x	4.29 x	5.28 x	5.19 x	4.96 x
EV / FCF	24.9 x	5.17 x	8.2 x	53.1 x	7.53 x	45.5 x	12.7 x	22.8 x
FCF Yield	4.01%	19.4%	12.2%	1.88%	13.3%	2.2%	7.9%	4.39%
Price to Book	1.81 x	0.99 x	1.21 x	0.92 x	0.8 x	0.93 x	0.88 x	0.82 x
Nbr of stocks (in thousands)	71,659	71,658	71,657	71,478	71,496	71,518	-	-
Reference price ²	5,060	2,963	3,935	3,215	2,976	3,629	3,629	3,629
Announcement Date	4/9/19	4/13/20	4/13/21	4/12/22	4/11/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	732,136	744,349	679,778	676,800	460,140	477,033	495,133	514,867
EBITDA ¹	51,135	48,052	51,653	50,855	49,641	49,165	49,965	52,305
EBIT ¹	35,273	31,888	35,781	34,717	33,644	32,767	34,533	37,533
Operating Margin	4.82%	4.28%	5.26%	5.13%	7.31%	6.87%	6.97%	7.29%
Earnings before Tax (EBT) ¹	33,495	29,845	34,852	34,280	34,265	31,833	33,700	36,700
Net income ¹	23,488	19,953	23,053	23,204	23,188	21,417	22,667	24,733
Net margin	3.21%	2.68%	3.39%	3.43%	5.04%	4.49%	4.58%	4.8%
EPS ²	327.8	278.4	321.7	324.4	324.4	299.5	316.9	345.8
Free Cash Flow ¹	14,541	41,085	34,399	4,331	28,268	5,700	20,500	11,400
FCF margin	1.99%	5.52%	5.06%	0.64%	6.14%	1.19%	4.14%	2.21%
FCF Conversion (EBITDA)	28.44%	85.5%	66.6%	8.52%	56.94%	11.59%	41.03%	21.8%
FCF Conversion (Net income)	61.91%	205.91%	149.22%	18.66%	121.91%	26.61%	90.44%	46.09%
Dividend per Share ²	80.00	80.00	83.00	86.00	87.00	88.00	91.00	97.00
Announcement Date	4/9/19	4/13/20	4/13/21	4/12/22	4/11/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: February	2020 S1	2021 S1	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	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4
Net sales ¹	369,814	326,353	166,890	331,844	164,249	180,707	110,112	113,949	224,061	-	126,218	114,314	119,006	233,320	111,499	133,681	118,622	123,772	240,786	118,378	136,528
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	14,163	16,457	8,138	15,970	7,898	10,849	7,868	7,826	15,694	-	11,446	8,150	7,368	15,518	6,318	11,164	8,220	8,680	15,800	6,378	11,572
Operating Margin	3.83%	5.04%	4.88%	4.81%	4.81%	6%	7.15%	6.87%	7%	-	9.07%	7.13%	6.19%	6.65%	5.67%	8.35%	6.93%	7.01%	6.56%	5.39%	8.48%
Earnings before Tax (EBT)	13,738	16,397	-	15,983	8,157	-	7,983	-	15,964	6,667	-	8,317	-	15,671	6,077	-	-	-	-	-	-
Net income ¹	8,966	10,680	5,638	10,719	5,652	6,833	5,295	5,339	10,634	-	7,924	5,529	4,931	10,460	4,065	6,675	5,600	6,200	-	4,800	8,000
Net margin	2.42%	3.27%	3.38%	3.23%	3.44%	3.78%	4.81%	4.69%	4.75%	-	6.28%	4.84%	4.14%	4.48%	3.65%	4.99%	4.72%	5.01%	-	4.05%	5.86%
EPS	125.1	149.0	-	149.8	79.07	-	74.09	-	148.8	64.75	-	77.35	-	146.3	56.84	-	-	-	-	-	-
Dividend per Share	40.00	40.00	-	43.00	-	-	-	-	43.00	-	-	-	-	44.00	-	-	-	-	-	-	-
Announcement Date	10/8/19	10/13/20	10/12/21	10/12/21	1/11/22	4/12/22	7/12/22	10/11/22	10/11/22	1/10/23	4/11/23	7/11/23	10/10/23	10/10/23	1/9/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	154,797	119,939	84,102	87,740	66,219	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.027 x	2.496 x	1.628 x	1.725 x	1.334 x	-	-	-
Free Cash Flow ¹	14,541	41,085	34,399	4,331	28,268	5,700	20,500	11,400
ROE (net income / shareholders' equity)	12.3%	9.6%	10.3%	9.6%	9%	7.87%	8.05%	8.6%
ROA (Net income/ Total Assets)	7.27%	6.56%	4.71%	7.24%	7.26%	6.9%	7.45%	8.15%
Assets ¹	322,899	304,258	489,899	320,510	319,324	310,386	304,251	303,476
Book Value Per Share ²	2,790	2,991	3,245	3,479	3,707	3,912	4,140	4,401
Cash Flow per Share	549.0	504.0	543.0	550.0	548.0	-	-	-
Capex ¹	18,876	16,596	13,921	16,336	12,148	35,000	22,000	34,500
Capex / Sales	2.58%	2.23%	2.05%	2.41%	2.64%	7.34%	4.44%	6.7%
Announcement Date	4/9/19	4/13/20	4/13/21	4/12/22	4/11/23	-	-	-

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 Izumi Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,629 JPY

Average target price

4,267 JPY

Spread / Average Target

+17.57%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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