KOBE STEEL, LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,900 JPY | +1.06% |
|
+0.82% | +4.14% |
| Mar. 18 | Kobe Steel, Ltd.(TSE:5406) added to S&P Japan Mid Cap 100 | CI |
| Feb. 27 | Japan's Nikkei ends nearly flat as Advantest falls on profit-locking | RE |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 301,080 | 120,694 | 271,295 | 233,179 | 415,829 | 750,421 | - | - |
| Enterprise Value (EV) 1 | 887,544 | 881,288 | 996,757 | 898,118 | 1,119,362 | 1,364,517 | 1,310,775 | 1,258,512 |
| P/E ratio | 8.38 x | -1.78 x | 11.7 x | 3.69 x | 5.73 x | 6.04 x | 7.71 x | 7.73 x |
| Yield | 2.41% | - | 1.34% | 6.77% | 3.8% | 4.74% | 3.93% | 3.87% |
| Capitalization / Revenue | 0.15 x | 0.06 x | 0.16 x | 0.11 x | 0.17 x | 0.29 x | 0.28 x | 0.28 x |
| EV / Revenue | 0.45 x | 0.47 x | 0.58 x | 0.43 x | 0.45 x | 0.52 x | 0.49 x | 0.48 x |
| EV / EBITDA | 5.88 x | 7.65 x | 7.59 x | 4.66 x | 5.63 x | 4.73 x | 4.92 x | 4.66 x |
| EV / FCF | -13.4 x | -4.14 x | 18.8 x | 123 x | 49.9 x | 15.8 x | 16.1 x | 17.2 x |
| FCF Yield | -7.47% | -24.1% | 5.31% | 0.81% | 2% | 6.34% | 6.2% | 5.82% |
| Price to Book | 0.41 x | 0.18 x | 0.38 x | 0.29 x | 0.45 x | 0.73 x | 0.69 x | 0.65 x |
| Nbr of stocks (in thousands) | 362,310 | 361,358 | 362,694 | 394,550 | 394,899 | 394,959 | - | - |
| Reference price 2 | 831.0 | 334.0 | 748.0 | 591.0 | 1,053 | 1,900 | 1,900 | 1,900 |
| Announcement Date | 5/9/19 | 5/11/20 | 5/11/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,971,869 | 1,869,835 | 1,705,566 | 2,082,582 | 2,472,508 | 2,599,515 | 2,655,932 | 2,644,469 |
| EBITDA 1 | 150,871 | 115,209 | 131,254 | 192,769 | 198,870 | 288,245 | 266,243 | 270,293 |
| EBIT 1 | 48,282 | 9,863 | 30,398 | 87,622 | 86,365 | 169,072 | 144,634 | 147,198 |
| Operating Margin | 2.45% | 0.53% | 1.78% | 4.21% | 3.49% | 6.5% | 5.45% | 5.57% |
| Earnings before Tax (EBT) 1 | 48,985 | -65,565 | 18,748 | 84,013 | 98,066 | 181,300 | 132,325 | 126,300 |
| Net income 1 | 35,940 | -68,008 | 23,234 | 60,083 | 72,566 | 129,172 | 97,314 | 97,105 |
| Net margin | 1.82% | -3.64% | 1.36% | 2.89% | 2.93% | 4.97% | 3.66% | 3.67% |
| EPS 2 | 99.20 | -187.6 | 64.05 | 160.2 | 183.8 | 314.6 | 246.4 | 245.9 |
| Free Cash Flow 1 | -66,335 | -212,776 | 52,945 | 7,299 | 22,425 | 86,467 | 81,300 | 73,225 |
| FCF margin | -3.36% | -11.38% | 3.1% | 0.35% | 0.91% | 3.33% | 3.06% | 2.77% |
| FCF Conversion (EBITDA) | - | - | 40.34% | 3.79% | 11.28% | 30% | 30.54% | 27.09% |
| FCF Conversion (Net income) | - | - | 227.88% | 12.15% | 30.9% | 66.94% | 83.54% | 75.41% |
| Dividend per Share 2 | 20.00 | - | 10.00 | 40.00 | 40.00 | 90.00 | 74.67 | 73.50 |
| Announcement Date | 5/9/19 | 5/11/20 | 5/11/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 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 | 944,464 | 925,371 | 776,406 | 929,160 | 508,939 | 972,182 | 512,622 | 597,778 | 1,110,400 | 542,807 | 626,850 | 1,169,657 | 614,981 | 687,870 | 1,302,851 | 598,689 | 655,144 | 1,253,833 | 619,874 | 715,471 | 1,307,200 | 652,359 | 667,722 | - | 643,370 | 697,550 | - |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 87,485 | - | - | 75,521 | - | 70,511 | - | - | 62,406 | 118,955 | - |
| EBIT 1 | 7,443 | 2,420 | -27,142 | 57,540 | 21,992 | 46,814 | 29,760 | 11,048 | 40,808 | 8,068 | 11,703 | 19,771 | 34,044 | 32,550 | 66,594 | 34,040 | 58,102 | 92,142 | 46,097 | 34,188 | 77,900 | 33,549 | 39,861 | 68,000 | 32,121 | 42,802 | 69,000 |
| Operating Margin | 0.79% | 0.26% | -3.5% | 6.19% | 4.32% | 4.82% | 5.81% | 1.85% | 3.68% | 1.49% | 1.87% | 1.69% | 5.54% | 4.73% | 5.11% | 5.69% | 8.87% | 7.35% | 7.44% | 4.78% | 5.96% | 5.14% | 5.97% | - | 4.99% | 6.14% | - |
| Earnings before Tax (EBT) | -2,630 | -62,935 | -21,616 | 40,364 | - | 44,336 | 34,452 | - | - | 29,988 | 9,202 | 39,190 | 27,867 | - | - | 35,904 | - | 119,319 | 42,411 | - | - | - | - | - | - | - | - |
| Net income 1 | -6,281 | - | -15,209 | 38,443 | 15,600 | 34,519 | 19,579 | 5,985 | - | 21,038 | 6,970 | 28,008 | 19,502 | 25,056 | - | 25,451 | 54,897 | 80,348 | 29,379 | 21,606 | - | 23,443 | 30,286 | - | 22,313 | 28,675 | - |
| Net margin | -0.67% | - | -1.96% | 4.14% | 3.07% | 3.55% | 3.82% | 1% | - | 3.88% | 1.11% | 2.39% | 3.17% | 3.64% | - | 4.25% | 8.38% | 6.41% | 4.74% | 3.02% | - | 3.59% | 4.54% | - | 3.47% | 4.11% | - |
| EPS 2 | -17.32 | - | -41.93 | 106.0 | - | 95.16 | 51.41 | - | - | 53.32 | - | 70.96 | 49.39 | - | - | 64.44 | 139.0 | 203.4 | 74.39 | 91.70 | - | 65.54 | 87.53 | - | 49.69 | 94.57 | - |
| Dividend per Share 2 | - | - | - | - | - | 10.00 | - | - | - | - | - | 15.00 | - | - | 25.00 | - | 45.00 | 45.00 | - | 45.00 | - | - | 45.00 | - | - | 45.00 | - |
| Announcement Date | 11/6/19 | 5/11/20 | 11/5/20 | 5/11/21 | 11/5/21 | 11/5/21 | 2/8/22 | 5/11/22 | 5/11/22 | 8/9/22 | 11/9/22 | 11/9/22 | 2/9/23 | 5/11/23 | 5/11/23 | 8/8/23 | 11/9/23 | 11/9/23 | 2/9/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 586,464 | 760,594 | 725,462 | 664,939 | 703,533 | 614,096 | 560,354 | 508,090 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.887 x | 6.602 x | 5.527 x | 3.449 x | 3.538 x | 2.13 x | 2.105 x | 1.88 x |
| Free Cash Flow 1 | -66,335 | -212,776 | 52,945 | 7,299 | 22,425 | 86,467 | 81,300 | 73,225 |
| ROE (net income / shareholders' equity) | 4.8% | -9.7% | 3.4% | 7.9% | 8.4% | 12.9% | 9.22% | 8.64% |
| ROA (Net income/ Total Assets) | 1.46% | -0.34% | 0.65% | 3.51% | 3.81% | 4.57% | 3.3% | 3.45% |
| Assets 1 | 2,458,377 | 20,187,005 | 3,583,890 | 1,711,508 | 1,903,006 | 2,828,581 | 2,948,911 | 2,814,631 |
| Book Value Per Share 2 | 2,041 | 1,811 | 1,959 | 2,066 | 2,314 | 2,596 | 2,762 | 2,935 |
| Cash Flow per Share | 382.0 | 103.0 | 342.0 | 441.0 | 469.0 | - | - | - |
| Capex 1 | 133,471 | 239,816 | 185,091 | 109,493 | 97,302 | 129,970 | 129,507 | 136,470 |
| Capex / Sales | 6.77% | 12.83% | 10.85% | 5.26% | 3.94% | 5% | 4.88% | 5.16% |
| Announcement Date | 5/9/19 | 5/11/20 | 5/11/21 | 5/11/22 | 5/11/23 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
1,900
JPY
Average target price
2,067
JPY
Spread / Average Target
+8.77%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +4.14% | 4.77B | |
| +0.79% | 42.1B | |
| +18.89% | 24.83B | |
| -21.02% | 21.75B | |
| +13.50% | 21.17B | |
| -7.50% | 20.77B | |
| +6.81% | 9.44B | |
| -12.44% | 8.5B | |
| -23.08% | 8.41B | |
| +36.31% | 8.35B |
- Stock Market
- Equities
- 5406 Stock
- Financials Kobe Steel, Ltd.
