MEIJI SHIPPING GROUP CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 766 JPY | +1.32% |
|
+2.41% | +0.39% |
| 2023 | Meiji Shipping Co., Ltd. Reports Earnings Results for the Full Year Ended March 31, 2023 | CI |
| 2021 | Meiji Shipping Co., Ltd.(TSE:9115) added to S&P Global BMI Index | CI |
Valuation
| Fiscal Period: März | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 14,011 | 11,327 | 11,261 | 16,231 | 29,320 | 21,119 |
| Enterprise Value (EV) 1 | 99,939 | 108,411 | 112,421 | 148,405 | 179,385 | 174,733 |
| P/E ratio | 7.74 x | 5.53 x | 6.55 x | 13 x | 8.95 x | 3.27 x |
| Yield | 1.17% | 1.45% | 1.45% | 1.01% | 0.57% | 0.81% |
| Capitalization / Revenue | 0.34 x | 0.27 x | 0.26 x | 0.4 x | 0.64 x | 0.36 x |
| EV / Revenue | 2.39 x | 2.54 x | 2.56 x | 3.7 x | 3.92 x | 3.01 x |
| EV / EBITDA | 6.5 x | 7.02 x | 6.77 x | 10 x | 9.21 x | 6.88 x |
| EV / FCF | -8.35 x | -11.9 x | -14 x | -3.92 x | -9.02 x | -31 x |
| FCF Yield | -12% | -8.41% | -7.15% | -25.5% | -11.1% | -3.22% |
| Price to Book | 0.92 x | 0.67 x | 0.64 x | 0.87 x | 1.22 x | 0.6 x |
| Nbr of stocks (in thousands) | 32,737 | 32,737 | 32,737 | 32,924 | 33,508 | 34,008 |
| Reference price 2 | 428.0 | 346.0 | 344.0 | 493.0 | 875.0 | 621.0 |
| Announcement Date | 6/28/18 | 6/27/19 | 6/26/20 | 6/29/21 | 6/29/22 | 6/29/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 41,768 | 42,604 | 43,881 | 40,153 | 45,815 | 58,061 |
| EBITDA 1 | 15,378 | 15,443 | 16,610 | 14,845 | 19,468 | 25,396 |
| EBIT 1 | 5,592 | 4,928 | 5,445 | 2,082 | 4,402 | 8,765 |
| Operating Margin | 13.39% | 11.57% | 12.41% | 5.19% | 9.61% | 15.1% |
| Earnings before Tax (EBT) 1 | 4,453 | 4,432 | 4,204 | 2,419 | 7,131 | 13,878 |
| Net income 1 | 1,810 | 2,049 | 1,719 | 1,246 | 3,277 | 6,439 |
| Net margin | 4.33% | 4.81% | 3.92% | 3.1% | 7.15% | 11.09% |
| EPS 2 | 55.29 | 62.59 | 52.51 | 37.93 | 97.80 | 190.2 |
| Free Cash Flow 1 | -11,976 | -9,117 | -8,033 | -37,862 | -19,898 | -5,633 |
| FCF margin | -28.67% | -21.4% | -18.31% | -94.29% | -43.43% | -9.7% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - |
| Dividend per Share 2 | 5.000 | 5.000 | 5.000 | 5.000 | 5.000 | 5.000 |
| Announcement Date | 6/28/18 | 6/27/19 | 6/26/20 | 6/29/21 | 6/29/22 | 6/29/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2024 Q1 | 2024 S1 | 2024 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 21,090 | 19,267 | 20,329 | 12,131 | 12,016 | 26,340 | 16,801 | 15,502 | 32,313 | 18,096 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 2,069 | 996 | 1,300 | 1,162 | 1,031 | 2,576 | 3,186 | 2,814 | 6,042 | 3,311 |
| Operating Margin | 9.81% | 5.17% | 6.39% | 9.58% | 8.58% | 9.78% | 18.96% | 18.15% | 18.7% | 18.3% |
| Earnings before Tax (EBT) 1 | 1,592 | 981 | 1,262 | 1,229 | 1,465 | 7,891 | 1,680 | 3,213 | 3,723 | 2,418 |
| Net income 1 | 668 | 396 | 619 | 678 | 965 | 4,025 | 1,402 | 1,357 | 1,888 | 1,231 |
| Net margin | 3.17% | 2.06% | 3.04% | 5.59% | 8.03% | 15.28% | 8.34% | 8.75% | 5.84% | 6.8% |
| EPS 2 | 20.42 | 12.10 | 18.50 | 20.21 | 28.76 | 119.4 | 41.10 | 40.03 | 55.80 | 36.46 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/31/19 | 10/30/20 | 10/29/21 | 1/28/22 | 7/28/22 | 10/28/22 | 1/27/23 | 7/27/23 | 10/27/23 | 1/31/24 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 85,928 | 97,084 | 101,160 | 132,174 | 150,065 | 153,614 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.588 x | 6.287 x | 6.09 x | 8.904 x | 7.708 x | 6.049 x |
| Free Cash Flow 1 | -11,976 | -9,117 | -8,033 | -37,862 | -19,898 | -5,633 |
| ROE (net income / shareholders' equity) | 12.1% | 10.4% | 8.76% | 5.82% | 13.2% | 20.5% |
| ROA (Net income/ Total Assets) | 2.37% | 1.92% | 1.99% | 0.68% | 1.24% | 2.14% |
| Assets 1 | 76,368 | 106,491 | 86,482 | 182,377 | 263,636 | 301,212 |
| Book Value Per Share 2 | 466.0 | 515.0 | 539.0 | 569.0 | 715.0 | 1,039 |
| Cash Flow per Share 2 | 573.0 | 503.0 | 598.0 | 630.0 | 706.0 | 811.0 |
| Capex 1 | 24,020 | 22,801 | 21,474 | 49,943 | 37,768 | 28,392 |
| Capex / Sales | 57.51% | 53.52% | 48.94% | 124.38% | 82.44% | 48.9% |
| Announcement Date | 6/28/18 | 6/27/19 | 6/26/20 | 6/29/21 | 6/29/22 | 6/29/23 |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +0.39% | 169M | |
| +25.44% | 11.91B | |
| +29.89% | 4.51B | |
| +35.49% | 4.01B | |
| +16.75% | 2.81B | |
| +21.95% | 1.98B | |
| +17.91% | 1.87B | |
| -18.90% | 1.81B | |
| -0.55% | 1.63B | |
| +32.69% | 1.6B |
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