Financials Nachi-Fujikoshi Corp.

Equities

6474

JP3813200007

Industrial Machinery & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
3,355 ^JPY	+1.05%		+3.87%	-8.71%

Apr. 10	Nachi-Fujikoshi's Profit Slumps 84% in Fiscal Q1 as Net Sales Fall 10%	MT
Jan. 16	Nachi-Fujikoshi's Profit Down 47% in Fiscal 2023	MT

Valuation

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	125,600	105,043	91,735	90,822	88,224	78,200	-	-
Enterprise Value (EV) ¹	125,600	169,903	141,908	157,378	167,761	129,400	114,600	103,900
P/E ratio	15.2 x	42.7 x	9.23 x	7.54 x	13.7 x	8.06 x	7.05 x	6.41 x
Yield	1.98%	1.16%	2.59%	2.84%	2.91%	2.98%	3.43%	3.58%
Capitalization / Revenue	0.5 x	0.52 x	0.4 x	0.35 x	0.33 x	0.29 x	0.28 x	0.27 x
EV / Revenue	0.5 x	0.85 x	0.62 x	0.61 x	0.63 x	0.48 x	0.41 x	0.36 x
EV / EBITDA	4.15 x	7.1 x	4.48 x	4.44 x	5.35 x	3.74 x	3.16 x	2.76 x
EV / FCF	44.6 x	25.4 x	7.51 x	-16.4 x	-29.2 x	8.32 x	7.85 x	12.5 x
FCF Yield	2.24%	3.93%	13.3%	-6.11%	-3.42%	12%	12.7%	7.97%
Price to Book	1.05 x	0.9 x	0.71 x	0.61 x	0.54 x	0.47 x	0.44 x	0.42 x
Nbr of stocks (in thousands)	24,822	24,372	23,765	23,468	23,309	23,308	-	-
Reference price ²	5,060	4,310	3,860	3,870	3,785	3,355	3,355	3,355
Announcement Date	1/15/20	1/14/21	1/13/22	1/12/23	1/11/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	249,077	201,055	229,117	258,097	265,464	268,000	277,100	286,350
EBITDA ¹	30,230	23,945	31,661	35,412	31,346	34,600	36,250	37,700
EBIT ¹	13,348	6,850	14,718	17,025	11,873	14,600	16,500	18,000
Operating Margin	5.36%	3.41%	6.42%	6.6%	4.47%	5.45%	5.95%	6.29%
Earnings before Tax (EBT) ¹	11,813	4,861	14,610	17,301	10,999	13,600	15,500	17,000
Net income ¹	8,245	2,458	9,993	12,237	6,469	9,700	11,100	12,200
Net margin	3.31%	1.22%	4.36%	4.74%	2.44%	3.62%	4.01%	4.26%
EPS ²	331.9	100.8	418.1	513.2	276.9	416.2	476.2	523.4
Free Cash Flow ¹	2,814	6,678	18,908	-9,619	-5,744	15,552	14,590	8,281
FCF margin	1.13%	3.32%	8.25%	-3.73%	-2.16%	5.8%	5.27%	2.89%
FCF Conversion (EBITDA)	9.31%	27.89%	59.72%	-	-	44.95%	40.25%	21.97%
FCF Conversion (Net income)	34.13%	271.68%	189.21%	-	-	160.33%	131.44%	67.88%
Dividend per Share ²	100.0	50.00	100.0	110.0	110.0	100.0	115.0	120.0
Announcement Date	1/15/20	1/14/21	1/13/22	1/12/23	1/11/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: November	2019 S2	2020 S1	2021 S1	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4
Net sales ¹	121,912	103,792	112,047	58,875	59,995	62,097	122,092	66,693	69,312	65,825	69,439	135,264	64,906	65,294	130,200	59,338	62,000	122,000	64,500	65,500
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	5,867	2,636	6,435	4,099	3,636	4,464	8,100	4,884	4,041	3,912	3,700	7,612	2,640	1,621	4,261	1,183	2,600	4,200	2,600	3,700
Operating Margin	4.81%	2.54%	5.74%	6.96%	6.06%	7.19%	6.63%	7.32%	5.83%	5.94%	5.33%	5.63%	4.07%	2.48%	3.27%	1.99%	4.19%	3.44%	4.03%	5.65%
Earnings before Tax (EBT)	-	1,298	6,741	4,261	3,764	-	8,897	4,953	-	3,279	-	7,046	2,590	-	-	781	-	-	-	-
Net income	4,033	445	4,474	2,867	2,379	3,451	5,830	3,446	-	2,216	-	4,727	1,573	-	-	356	-	-	-	-
Net margin	3.31%	0.43%	3.99%	4.87%	3.97%	5.56%	4.78%	5.17%	-	3.37%	-	3.49%	2.42%	-	-	0.6%	-	-	-	-
EPS	-	18.29	186.1	-	99.97	144.8	244.8	144.4	-	94.17	-	201.9	67.57	-	-	15.29	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	1/15/20	7/15/20	7/14/21	1/13/22	4/4/22	7/14/22	7/14/22	10/6/22	1/12/23	4/5/23	7/13/23	7/13/23	10/4/23	1/11/24	1/11/24	4/4/24	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	64,860	50,173	66,556	79,537	51,200	36,400	25,700
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	2.709 x	1.585 x	1.879 x	2.537 x	1.48 x	1.004 x	0.6817 x
Free Cash Flow ¹	2,814	6,678	18,908	-9,619	-5,744	15,552	14,590	8,281
ROE (net income / shareholders' equity)	7.1%	2.1%	8.1%	8.8%	4.2%	7.7%	8.1%	8.2%
ROA (Net income/ Total Assets)	4.09%	1.86%	4.72%	5.05%	3.03%	3.4%	3.7%	3.9%
Assets ¹	201,377	132,497	211,643	242,153	213,457	285,294	300,000	312,821
Book Value Per Share ²	4,837	4,792	5,470	6,330	6,981	7,205	7,565	7,960
Cash Flow per Share	1,007	798.0	1,122	1,281	1,110	-	-	-
Capex ¹	21,412	12,580	16,341	20,374	19,157	19,000	19,500	19,500
Capex / Sales	8.6%	6.26%	7.13%	7.89%	7.22%	7.09%	7.04%	6.81%
Announcement Date	1/15/20	1/14/21	1/13/22	1/12/23	1/11/24	-	-	-

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

Ratings for Nachi-Fujikoshi Corp.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

3,355 JPY

Average target price

3,760 JPY

Spread / Average Target

+12.07%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Machine Tools

	1st Jan change	Capi.
NACHI-FUJIKOSHI CORP.	-8.71%	497M
NINGBO HAITIAN PRECISION MACHINERY CO.,LTD.	+8.22%	2.04B
SHENYANG MACHINE TOOL CO., LTD.	+0.43%	1.99B
KENNAMETAL INC.	-6.79%	1.91B
SHENZHEN YINGHE TECHNOLOGY CO., LTD	-16.05%	1.38B
GUANGDONG CREATE CENTURY INTELLIGENT EQUIPMENT GROUP CORPORATION LIMITED	-5.37%	1.38B
OKUMA CORPORATION	+15.70%	1.36B
QINGDAO GAOCE TECHNOLOGY CO., LTD	-28.65%	1.3B
QINCHUAN MACHINE TOOL & TOOL GROUP SHARE CO., LTD.	-17.02%	1.24B
OSG CORPORATION	-0.74%	1.18B

Machine Tools