Financials Roland DG Corporation

Equities

6789

JP3983450002

Computer Hardware

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
5,490 ^JPY	+3.00%		+0.37%	+50.62%

Apr. 19	Taiyo Pacific Partners Says it May Buy into Brother Bid for Niche Japanese Printer	CI
Apr. 19	US fund Taiyo says it may buy into Brother bid for niche Japanese printer	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	27,223	23,335	46,594	34,608	44,204	66,579	-	-
Enterprise Value (EV) ¹	19,694	13,103	33,899	24,967	36,311	66,579	66,579	66,579
P/E ratio	14 x	93.1 x	12.5 x	8.03 x	10.3 x	12.8 x	11.5 x	-
Yield	2.29%	0.53%	2.67%	4.66%	1.51%	2.91%	3.28%	-
Capitalization / Revenue	0.67 x	0.67 x	1.03 x	0.69 x	0.82 x	1.18 x	1.13 x	-
EV / Revenue	0.67 x	0.67 x	1.03 x	0.69 x	0.82 x	1.18 x	1.13 x	-
EV / EBITDA	-	12,068,761 x	6,311,486 x	4,646,878 x	-	-	-	-
EV / FCF	14.1 x	6.63 x	10.7 x	-761 x	31.2 x	10.2 x	11.9 x	13.5 x
FCF Yield	7.07%	15.1%	9.33%	-0.13%	3.21%	9.82%	8.41%	7.42%
Price to Book	1.09 x	0.94 x	1.62 x	1.06 x	1.23 x	-	-	-
Nbr of stocks (in thousands)	12,488	12,425	12,458	12,400	12,127	12,127	-	-
Reference price ²	2,180	1,878	3,740	2,791	3,645	5,490	5,490	5,490
Announcement Date	2/14/20	2/12/21	2/14/22	2/10/23	2/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	40,795	34,780	45,095	50,459	54,018	56,300	59,000	-
EBITDA	-	1,933	7,382	7,448	-	-	-	-
EBIT ¹	2,794	500	6,056	6,083	5,217	6,600	7,400	-
Operating Margin	6.85%	1.44%	13.43%	12.06%	9.66%	11.72%	12.54%	-
Earnings before Tax (EBT) ¹	2,644	848	4,596	6,085	5,611	6,600	7,400	-
Net income ¹	1,944	251	3,733	4,327	4,302	5,200	5,800	-
Net margin	4.77%	0.72%	8.28%	8.58%	7.96%	9.24%	9.83%	-
EPS ²	155.4	20.17	299.9	347.7	354.5	428.8	478.3	-
Free Cash Flow ¹	1,924	3,519	4,348	-45.46	1,418	6,537	5,600	4,939
FCF margin	4.72%	10.12%	9.64%	-0.09%	2.63%	11.61%	9.49%	-
FCF Conversion (EBITDA)	-	182%	58.9%	-	-	-	-	-
FCF Conversion (Net income)	98.97%	1,401.99%	116.47%	-	32.96%	125.71%	96.55%	-
Dividend per Share ²	50.00	10.00	100.0	130.0	55.00	160.0	180.0	-
Announcement Date	2/14/20	2/12/21	2/14/22	2/10/23	2/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2
Net sales ¹	20,837	15,774	19,006	21,846	11,567	11,682	23,249	11,316	12,769	24,085	12,854	13,520	26,374	12,687	12,992	25,679	13,935	14,404	28,339
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,227	-1,126	1,626	2,958	1,877	1,221	3,098	1,293	1,396	2,689	1,624	1,770	3,394	1,284	1,309	2,593	1,409	1,215	2,624
Operating Margin	5.89%	-7.14%	8.56%	13.54%	16.23%	10.45%	13.33%	11.43%	10.93%	11.16%	12.63%	13.09%	12.87%	10.12%	10.08%	10.1%	10.11%	8.44%	9.26%
Earnings before Tax (EBT) ¹	1,166	-1,224	2,072	1,907	1,766	-	-	1,464	1,404	2,868	1,525	1,692	3,217	1,362	-	2,887	1,333	1,391	2,724
Net income ¹	874	-1,324	1,575	1,580	1,227	926	2,153	925	1,009	1,934	1,083	1,310	2,393	937	1,145	2,082	1,000	1,220	2,220
Net margin	4.19%	-8.39%	8.29%	7.23%	10.61%	7.93%	9.26%	8.17%	7.9%	8.03%	8.43%	9.69%	9.07%	7.39%	8.81%	8.11%	7.18%	8.47%	7.83%
EPS	-	-106.1	-	127.0	98.55	-	-	74.25	-	155.3	86.87	-	-	77.09	-	171.5	82.45	-	-
Dividend per Share	25.00	-	-	40.00	-	-	60.00	-	-	50.00	-	-	80.00	-	-	55.00	-	-	-
Announcement Date	2/14/20	8/14/20	2/12/21	8/6/21	11/10/21	2/14/22	2/14/22	5/12/22	8/5/22	8/5/22	11/10/22	2/10/23	2/10/23	5/12/23	8/9/23	8/9/23	11/9/23	2/9/24	2/9/24

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	7,529	10,232	12,695	9,641	7,893	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	1,924	3,519	4,348	-45.5	1,418	6,537	5,600	4,939
ROE (net income / shareholders' equity)	7.9%	1%	13.9%	14.2%	12.6%	-	-	-
ROA (Net income/ Total Assets)	7.05%	1.13%	15.3%	13.8%	10.7%	-	-	-
Assets ¹	27,587	22,229	24,327	31,430	40,345	-	-	-
Book Value Per Share	2,006	1,991	2,311	2,622	2,954	-	-	-
Cash Flow per Share	271.0	129.0	400.0	454.0	486.0	-	-	-
Capex ¹	609	484	1,076	2,219	3,628	460	460	850
Capex / Sales	1.49%	1.39%	2.39%	4.4%	6.72%	0.82%	0.78%	-
Announcement Date	2/14/20	2/12/21	2/14/22	2/10/23	2/9/24	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Roland DG Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5,490 JPY

Average target price

4,500 JPY

Spread / Average Target

-18.03%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Computer Peripherals

	1st Jan change	Capi.
ROLAND DG CORPORATION	+50.62%	423M
SEIKO EPSON CORPORATION	+29.68%	5.77B
CHICONY ELECTRONICS CO., LTD.	+15.71%	4.5B
KNOWLES CORPORATION	-10.50%	1.44B
SOCIÉTÉ INDUSTRIELLE ET FINANCIÈRE DE L'ARTOIS	-3.85%	1.42B
DIEBOLD NIXDORF, INCORPORATED	+10.64%	1.2B
PRIMAX ELECTRONICS LTD.	+29.10%	1.24B
CHENBRO MICOM CO., LTD.	+6.26%	1.07B
NIDEC CHAUN-CHOUNG TECHNOLOGY CORPORATION	+102.67%	805M
EIZO CORPORATION	+1.01%	652M

Computer Peripherals