OBIC CO.,LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 20,155 JPY | -1.08% |
|
-4.00% | -17.04% |
| Apr. 23 | Obic’s Attributable Profit Soars 15.7% in Fiscal 2024 | MT |
| Feb. 21 | Tranche Update on OBIC Co.,Ltd.'s Equity Buyback Plan announced on February 20, 2024. | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 992,688 | 1,259,538 | 1,799,468 | 1,633,448 | 1,853,415 | 1,773,129 | - | - |
| Enterprise Value (EV) 1 | 872,716 | 1,129,926 | 1,648,723 | 1,510,749 | 1,697,094 | 1,833,379 | 1,569,919 | 1,534,937 |
| P/E ratio | 30.8 x | 35.9 x | 47.4 x | 37.6 x | 37 x | 34.8 x | 28.4 x | 25.7 x |
| Yield | 1.21% | 1.13% | 0.91% | 1.17% | 1.2% | 1.32% | 1.63% | 1.9% |
| Capitalization / Revenue | 13.4 x | 15.6 x | 21.5 x | 18.3 x | 18.5 x | 18 x | 14.4 x | 13.1 x |
| EV / Revenue | 11.8 x | 14 x | 19.7 x | 16.9 x | 16.9 x | 16.4 x | 12.7 x | 11.4 x |
| EV / EBITDA | 22.6 x | 25.6 x | 32.8 x | 26.7 x | 26.1 x | 25 x | 19.4 x | 17.1 x |
| EV / FCF | 45.2 x | 37.8 x | 40.6 x | -297 x | 32.8 x | 34.2 x | 25.3 x | 22.3 x |
| FCF Yield | 2.21% | 2.64% | 2.46% | -0.34% | 3.05% | 2.92% | 3.95% | 4.49% |
| Price to Book | 4.54 x | 5.28 x | 6.76 x | 5.56 x | 5.65 x | 5.03 x | 4.19 x | 3.94 x |
| Nbr of stocks (in thousands) | 88,951 | 88,950 | 88,950 | 88,678 | 88,680 | 87,975 | - | - |
| Reference price 2 | 11,160 | 14,160 | 20,230 | 18,420 | 20,900 | 20,155 | 20,155 | 20,155 |
| Announcement Date | 4/23/19 | 4/23/20 | 4/22/21 | 4/21/22 | 4/25/23 | 4/23/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 74,163 | 80,488 | 83,862 | 89,476 | 100,167 | 111,590 | 123,382 | 135,087 |
| EBITDA 1 | 38,538 | 44,145 | 50,317 | 56,564 | 65,001 | 73,442 | 81,057 | 89,922 |
| EBIT 1 | 37,939 | 43,238 | 48,077 | 54,135 | 62,490 | 70,910 | 79,433 | 88,235 |
| Operating Margin | 51.16% | 53.72% | 57.33% | 60.5% | 62.39% | 63.55% | 64.38% | 65.32% |
| Earnings before Tax (EBT) 1 | 43,985 | 47,905 | 52,884 | 59,793 | 70,225 | 81,078 | 87,742 | 96,662 |
| Net income 1 | 32,223 | 35,096 | 38,001 | 43,500 | 50,116 | 58,007 | 62,729 | 69,342 |
| Net margin | 43.45% | 43.6% | 45.31% | 48.62% | 50.03% | 51.98% | 50.84% | 51.33% |
| EPS 2 | 362.3 | 394.6 | 427.2 | 490.0 | 565.1 | 654.6 | 709.1 | 783.9 |
| Free Cash Flow 1 | 19,307 | 29,855 | 40,592 | -5,081 | 51,678 | 53,625 | 62,072 | 68,911 |
| FCF margin | 26.03% | 37.09% | 48.4% | -5.68% | 51.59% | 48.06% | 50.31% | 51.01% |
| FCF Conversion (EBITDA) | 50.1% | 67.63% | 80.67% | - | 79.5% | 73.02% | 76.58% | 76.63% |
| FCF Conversion (Net income) | 59.92% | 85.07% | 106.82% | - | 103.12% | 92.45% | 98.95% | 99.38% |
| Dividend per Share 2 | 135.0 | 160.0 | 185.0 | 215.0 | 250.0 | 300.0 | 329.3 | 383.4 |
| Announcement Date | 4/23/19 | 4/23/20 | 4/22/21 | 4/21/22 | 4/25/23 | 4/23/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 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 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 40,059 | 40,429 | 41,015 | 42,847 | 22,461 | 43,559 | 23,095 | 22,822 | 45,917 | 24,106 | 24,970 | 49,076 | 25,445 | 25,646 | 51,091 | 27,094 | 28,240 | 55,334 | 28,251 | 28,005 | 29,620 | 30,918 | - | 31,100 | 31,050 |
| EBITDA 1 | - | - | - | - | 14,236 | - | - | - | - | - | - | - | - | - | - | - | - | - | 18,750 | 18,065 | - | - | - | - | - |
| EBIT 1 | 21,656 | 21,582 | 23,887 | 24,190 | 13,640 | 26,371 | 14,068 | 13,696 | 27,764 | 15,072 | 15,646 | 30,718 | 16,108 | 15,664 | 31,772 | 17,430 | 17,951 | 35,381 | 18,117 | 17,412 | 19,246 | 19,718 | 41,100 | 19,944 | 19,493 |
| Operating Margin | 54.06% | 53.38% | 58.24% | 56.46% | 60.73% | 60.54% | 60.91% | 60.01% | 60.47% | 62.52% | 62.66% | 62.59% | 63.31% | 61.08% | 62.19% | 64.33% | 63.57% | 63.94% | 64.13% | 62.17% | 64.98% | 63.78% | - | 64.13% | 62.78% |
| Earnings before Tax (EBT) 1 | 25,704 | 22,201 | 26,431 | - | 14,671 | 28,937 | 15,551 | 15,305 | 30,856 | 18,485 | 16,577 | 35,062 | 18,173 | 16,990 | 35,163 | 20,728 | 19,262 | 39,990 | 21,170 | 19,918 | - | - | - | - | - |
| Net income 1 | 19,147 | 15,949 | 19,107 | 18,894 | 10,485 | 21,277 | 11,135 | 11,088 | 22,223 | 13,130 | 11,774 | 24,904 | 12,920 | 12,292 | 25,212 | 14,663 | 13,734 | 28,397 | 15,151 | 14,459 | 14,469 | 14,647 | 32,700 | 14,616 | 15,508 |
| Net margin | 47.8% | 39.45% | 46.59% | 44.1% | 46.68% | 48.85% | 48.21% | 48.58% | 48.4% | 54.47% | 47.15% | 50.75% | 50.78% | 47.93% | 49.35% | 54.12% | 48.63% | 51.32% | 53.63% | 51.63% | 48.85% | 47.37% | - | 46.99% | 49.94% |
| EPS 2 | 215.3 | 179.3 | 214.8 | - | 118.0 | 239.4 | 125.6 | 125.0 | 250.6 | 148.1 | 132.8 | 280.8 | 145.7 | 138.6 | - | 165.4 | 154.9 | 320.2 | 170.8 | 163.5 | 163.2 | 165.2 | - | 164.8 | 174.9 |
| Dividend per Share 2 | 70.00 | - | 80.00 | - | - | 92.50 | - | 122.5 | - | - | 110.0 | 110.0 | - | 140.0 | - | - | - | 130.0 | - | 170.0 | - | - | 150.0 | - | - |
| Announcement Date | 10/28/19 | 4/23/20 | 10/26/20 | 4/22/21 | 10/26/21 | 10/26/21 | 1/25/22 | 4/21/22 | 4/21/22 | 7/21/22 | 10/25/22 | 10/25/22 | 1/24/23 | 4/25/23 | 4/25/23 | 7/25/23 | 10/24/23 | 10/24/23 | 1/24/24 | 4/23/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 119,972 | 129,612 | 150,745 | 122,699 | 156,321 | 170,244 | 203,210 | 238,193 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 19,307 | 29,855 | 40,592 | -5,081 | 51,678 | 53,625 | 62,072 | 68,911 |
| ROE (net income / shareholders' equity) | 15.5% | 15.4% | 15.1% | 15.5% | 16.1% | 16% | 15.9% | 16.6% |
| ROA (Net income/ Total Assets) | 18% | 18.1% | 18.7% | 19.3% | 20.3% | 19.6% | 12.6% | 13% |
| Assets 1 | 179,137 | 194,314 | 203,317 | 224,890 | 246,442 | 296,240 | 497,853 | 533,403 |
| Book Value Per Share 2 | 2,456 | 2,680 | 2,991 | 3,310 | 3,697 | 4,532 | 4,814 | 5,115 |
| Cash Flow per Share 2 | 369.0 | 405.0 | 452.0 | 517.0 | 593.0 | 683.0 | 618.0 | 680.0 |
| Capex 1 | 10,536 | 2,144 | 1,085 | 1,910 | 1,660 | 3,727 | 2,464 | 2,663 |
| Capex / Sales | 14.21% | 2.66% | 1.29% | 2.13% | 1.66% | 3.34% | 2% | 1.97% |
| Announcement Date | 4/23/19 | 4/23/20 | 4/22/21 | 4/21/22 | 4/25/23 | 4/23/24 | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
20,155
JPY
Average target price
24,155
JPY
Spread / Average Target
+19.84%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -17.04% | 11.26B | |
| -12.23% | 194B | |
| +0.74% | 166B | |
| +2.19% | 153B | |
| +4.34% | 99.85B | |
| +7.04% | 77.56B | |
| +19.09% | 73.55B | |
| -7.30% | 71B | |
| -20.54% | 52.81B | |
| +0.53% | 47.86B |
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- Financials OBIC Co.,Ltd.
