OKAYA & CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 18,000 JPY | -1.64% |
|
+4.53% | +40.62% |
| Mar. 21 | Okaya & Co., Ltd. agreed to acquire Piping Components Business Of Proterial from Proterial, Ltd. | CI |
| 2023 | Okaya & Co., Ltd. acquired additional 24.1% stake in Koyo Materica Corporation. | CI |
Valuation
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 92,412 | 86,633 | 87,306 | 91,413 | 98,627 | 173,175 | - | - |
| Enterprise Value (EV) 1 | 201,488 | 168,918 | 154,129 | 205,358 | 245,032 | 270,406 | 306,583 | 288,230 |
| P/E ratio | 5.6 x | 5.53 x | 7.02 x | 4.73 x | 4.19 x | 5.74 x | 6.93 x | 6.53 x |
| Yield | 2.4% | 2.56% | 2.48% | 2.47% | 2.39% | 1.84% | 1.67% | 1.83% |
| Capitalization / Revenue | 0.1 x | 0.1 x | 0.11 x | 0.1 x | 0.1 x | 0.12 x | 0.14 x | 0.13 x |
| EV / Revenue | 0.21 x | 0.19 x | 0.2 x | 0.21 x | 0.25 x | 0.24 x | 0.26 x | 0.22 x |
| EV / EBITDA | 8.19 x | 7.4 x | - | 7.71 x | 7.26 x | 7.29 x | 7.86 x | 7.03 x |
| EV / FCF | -51.3 x | 6.01 x | 10 x | -5.1 x | -9.09 x | 14.4 x | 40.4 x | 13.4 x |
| FCF Yield | -1.95% | 16.6% | 9.97% | -19.6% | -11% | 6.96% | 2.47% | 7.47% |
| Price to Book | 0.45 x | 0.41 x | 0.38 x | 0.34 x | 0.34 x | 0.35 x | 0.43 x | 0.4 x |
| Nbr of stocks (in thousands) | 9,626 | 9,626 | 9,626 | 9,622 | 9,622 | 9,621 | - | - |
| Reference price 2 | 9,600 | 9,000 | 9,070 | 9,500 | 10,250 | 18,000 | 18,000 | 18,000 |
| Announcement Date | 3/29/19 | 3/31/20 | 3/31/21 | 3/31/22 | 3/30/23 | 3/28/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 948,596 | 875,623 | 760,443 | 960,809 | 962,016 | 1,111,934 | 1,200,000 | 1,300,000 |
| EBITDA 1 | 24,600 | 22,819 | - | 26,640 | 33,747 | 37,080 | 39,030 | 41,000 |
| EBIT 1 | 20,972 | 19,032 | 13,584 | 22,719 | 29,448 | 32,412 | 34,000 | 36,000 |
| Operating Margin | 2.21% | 2.17% | 1.79% | 2.36% | 3.06% | 2.91% | 2.83% | 2.77% |
| Earnings before Tax (EBT) 1 | 24,471 | 22,814 | 18,389 | 27,972 | 34,762 | 35,758 | 37,500 | 39,700 |
| Net income 1 | 16,494 | 15,670 | 12,429 | 19,321 | 23,520 | 23,659 | 25,000 | 26,500 |
| Net margin | 1.74% | 1.79% | 1.63% | 2.01% | 2.44% | 2.13% | 2.08% | 2.04% |
| EPS 2 | 1,713 | 1,628 | 1,291 | 2,007 | 2,444 | 2,459 | 2,599 | 2,754 |
| Free Cash Flow 1 | -3,925 | 28,099 | 15,363 | -40,235 | -26,971 | 18,828 | 7,582 | 21,528 |
| FCF margin | -0.41% | 3.21% | 2.02% | -4.19% | -2.8% | 1.69% | 0.63% | 1.66% |
| FCF Conversion (EBITDA) | - | 123.14% | - | - | - | 50.78% | 19.43% | 52.51% |
| FCF Conversion (Net income) | - | 179.32% | 123.61% | - | - | 79.58% | 30.33% | 81.24% |
| Dividend per Share 2 | 230.0 | 230.0 | 225.0 | 235.0 | 245.0 | 260.0 | 300.0 | 330.0 |
| Announcement Date | 3/29/19 | 3/31/20 | 3/31/21 | 3/31/22 | 3/30/23 | 3/28/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: February | 2020 S1 | 2021 S1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2024 Q1 | 2024 S1 | 2024 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 444,188 | 364,663 | 458,397 | 250,825 | 223,707 | 468,699 | 257,039 | 267,516 | 544,508 | 275,175 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 9,536 | 4,914 | 10,639 | 6,500 | 6,857 | 15,781 | 8,322 | 7,520 | 16,034 | 8,720 |
| Operating Margin | 2.15% | 1.35% | 2.32% | 2.59% | 3.07% | 3.37% | 3.24% | 2.81% | 2.94% | 3.17% |
| Earnings before Tax (EBT) 1 | 12,066 | 7,358 | 12,972 | 8,902 | 7,089 | 16,633 | 11,084 | 8,513 | 17,788 | 9,753 |
| Net income 1 | 8,534 | 4,954 | 8,819 | 6,672 | 4,851 | 11,285 | 7,332 | 5,689 | 11,782 | 6,639 |
| Net margin | 1.92% | 1.36% | 1.92% | 2.66% | 2.17% | 2.41% | 2.85% | 2.13% | 2.16% | 2.41% |
| EPS 2 | 886.6 | 514.6 | 916.3 | 693.2 | 504.2 | 1,173 | 761.9 | 591.4 | 1,225 | 690.0 |
| Dividend per Share | 110.0 | 110.0 | 115.0 | - | - | 120.0 | - | - | 125.0 | - |
| Announcement Date | 10/2/19 | 9/30/20 | 9/30/21 | 12/27/21 | 6/30/22 | 9/29/22 | 12/27/22 | 6/29/23 | 9/28/23 | 12/26/23 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 109,076 | 82,285 | 66,823 | 113,945 | 146,405 | 134,560 | 133,408 | 115,055 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.434 x | 3.606 x | - | 4.277 x | 4.338 x | 3.629 x | 3.418 x | 2.806 x |
| Free Cash Flow 1 | -3,925 | 28,099 | 15,363 | -40,235 | -26,971 | 18,828 | 7,582 | 21,528 |
| ROE (net income / shareholders' equity) | 8.1% | 7.6% | 5.6% | 7.7% | 8.5% | 7% | 6.3% | 6.4% |
| ROA (Net income/ Total Assets) | 4.89% | 4.54% | - | 5.1% | 4.94% | 4.61% | 4.4% | 4.6% |
| Assets 1 | 337,118 | 345,144 | - | 378,571 | 475,787 | 512,708 | 568,182 | 576,087 |
| Book Value Per Share 2 | 21,281 | 21,758 | 24,081 | 27,777 | 29,984 | 40,151 | 42,137 | 44,562 |
| Cash Flow per Share 2 | 2,090 | 2,021 | 1,654 | 2,415 | 2,891 | 2,944 | 3,121 | 3,274 |
| Capex 1 | 3,093 | 6,266 | 8,772 | 12,822 | 8,218 | 7,038 | 15,000 | 15,000 |
| Capex / Sales | 0.33% | 0.72% | 1.15% | 1.33% | 0.85% | 0.63% | 1.25% | 1.15% |
| Announcement Date | 3/29/19 | 3/31/20 | 3/31/21 | 3/31/22 | 3/30/23 | 3/28/24 | - | - |
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
Sell
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
18,000
JPY
Average target price
17,500
JPY
Spread / Average Target
-2.78%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +40.62% | 1.13B | |
| -1.09% | 25.68B | |
| +16.69% | 20.85B | |
| -8.33% | 11.79B | |
| +32.81% | 11.74B | |
| +13.89% | 11.12B | |
| +8.90% | 10.04B | |
| +1.55% | 8.46B | |
| +18.05% | 8.04B | |
| +19.36% | 7.02B |
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- Financials Okaya & Co., Ltd.