Financials NS United Kaiun Kaisha, Ltd.

Equities

9110

JP3385000009

Marine Freight & Logistics

Valuation

Fiscal Period: März 2018 2019 2020 2021 2022 2023
Capitalization 1 51,141 55,830 32,687 44,423 99,215 96,975
Enterprise Value (EV) 1 149,469 142,823 150,378 165,967 191,644 157,448
P/E ratio 7.73 x 5.98 x 5.5 x 7.25 x 4.21 x 3.51 x
Yield 3.92% 4.85% 5.77% 4.24% 6.77% 8.87%
Capitalization / Revenue 0.37 x 0.37 x 0.22 x 0.32 x 0.51 x 0.39 x
EV / Revenue 1.08 x 0.95 x 1.01 x 1.2 x 0.98 x 0.63 x
EV / EBITDA 6.52 x 6.07 x 6.81 x 6.74 x 4.32 x 3.13 x
EV / FCF -21 x -52.8 x -3.91 x -9.29 x 9.13 x 5.62 x
FCF Yield -4.77% -1.89% -25.6% -10.8% 11% 17.8%
Price to Book 0.63 x 0.63 x 0.36 x 0.46 x 0.84 x 0.71 x
Nbr of stocks (in thousands) 23,567 23,567 23,567 23,567 23,566 23,566
Reference price 2 2,170 2,369 1,387 1,885 4,210 4,115
Announcement Date 6/27/18 6/26/19 6/25/20 6/28/21 6/28/22 6/28/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2018 2019 2020 2021 2022 2023
Net sales 1 139,000 151,068 148,415 138,454 195,941 250,825
EBITDA 1 22,922 23,541 22,086 24,611 44,380 50,314
EBIT 1 7,360 8,910 7,040 6,736 26,712 32,486
Operating Margin 5.29% 5.9% 4.74% 4.87% 13.63% 12.95%
Earnings before Tax (EBT) 1 6,419 10,503 7,198 7,351 29,068 32,860
Net income 1 6,613 9,343 5,947 6,131 23,582 27,603
Net margin 4.76% 6.18% 4.01% 4.43% 12.04% 11%
EPS 2 280.6 396.4 252.3 260.2 1,001 1,171
Free Cash Flow 1 -7,131 -2,706 -38,469 -17,860 20,994 28,020
FCF margin -5.13% -1.79% -25.92% -12.9% 10.71% 11.17%
FCF Conversion (EBITDA) - - - - 47.31% 55.69%
FCF Conversion (Net income) - - - - 89.03% 101.51%
Dividend per Share 2 85.00 115.0 80.00 80.00 285.0 365.0
Announcement Date 6/27/18 6/26/19 6/25/20 6/28/21 6/28/22 6/28/23
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 71,943 65,722 89,698 54,718 62,312 130,836 66,027 55,404 112,354 60,166
EBITDA - - - - - - - - - -
EBIT 1 2,904 1,785 11,301 8,788 11,195 20,673 9,284 5,831 12,194 5,034
Operating Margin 4.04% 2.72% 12.6% 16.06% 17.97% 15.8% 14.06% 10.52% 10.85% 8.37%
Earnings before Tax (EBT) 1 4,641 3,776 10,827 9,144 13,188 24,206 6,604 7,927 13,898 3,646
Net income 1 3,731 2,927 8,719 7,105 10,498 19,426 5,932 6,234 10,989 3,141
Net margin 5.19% 4.45% 9.72% 12.98% 16.85% 14.85% 8.98% 11.25% 9.78% 5.22%
EPS 2 158.3 124.2 370.0 301.5 445.4 824.3 251.7 264.6 466.3 133.3
Dividend per Share 45.00 30.00 95.00 - - 170.0 - - 80.00 -
Announcement Date 10/31/19 10/30/20 10/29/21 1/31/22 7/29/22 10/31/22 1/31/23 7/31/23 10/31/23 1/31/24
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 98,328 86,993 117,691 121,544 92,429 60,473
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.29 x 3.695 x 5.329 x 4.939 x 2.083 x 1.202 x
Free Cash Flow 1 -7,131 -2,706 -38,469 -17,860 20,994 28,020
ROE (net income / shareholders' equity) 8.39% 11% 6.6% 6.54% 22% 21.6%
ROA (Net income/ Total Assets) 1.99% 2.46% 1.86% 1.62% 6.12% 7.37%
Assets 1 331,995 379,442 319,011 378,130 385,358 374,313
Book Value Per Share 2 3,423 3,778 3,866 4,091 5,015 5,831
Cash Flow per Share 2 906.0 947.0 840.0 1,174 945.0 1,286
Capex 1 23,656 18,602 55,628 41,331 5,564 6,153
Capex / Sales 17.02% 12.31% 37.48% 29.85% 2.84% 2.45%
Announcement Date 6/27/18 6/26/19 6/25/20 6/28/21 6/28/22 6/28/23
1JPY in Million2JPY
Estimates
  1. Stock Market
  2. Equities
  3. 9110 Stock
  4. Financials NS United Kaiun Kaisha, Ltd.