Financials Ultrafabrics Holdings Co.,Ltd.

Equities

4235

JP3473600009

Textiles & Leather Goods

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,171 ^JPY	+0.34%		+2.54%	-0.09%

Mar. 27	Ultrafabrics Holdings to Issue Stock Options to Employees	MT
Feb. 28	Ultrafabrics Holdings to Issue 4,610 Stock Options to Employees, Directors	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,035	5,895	12,679	25,630	18,258	18,242	-	-
Enterprise Value (EV) ¹	22,453	18,417	24,829	38,884	31,597	18,242	18,242	18,242
P/E ratio	28.9 x	223 x	16.7 x	15.5 x	9.04 x	7.1 x	6.62 x	5.68 x
Yield	2.06%	2.2%	1.47%	1.83%	3.33%	3.33%	3.84%	4.27%
Capitalization / Revenue	0.7 x	0.59 x	0.9 x	1.31 x	0.87 x	0.81 x	0.71 x	0.61 x
EV / Revenue	0.7 x	0.59 x	0.9 x	1.31 x	0.87 x	0.81 x	0.71 x	0.61 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	8.16 x	3.54 x	-	-	-	33.8 x	5.16 x	4.71 x
FCF Yield	12.3%	28.3%	-	-	-	2.96%	19.4%	21.2%
Price to Book	1.14 x	0.89 x	1.47 x	2.38 x	1.41 x	1.13 x	1 x	0.89 x
Nbr of stocks (in thousands)	12,714	12,970	13,283	15,098	15,578	15,578	-	-
Reference price ²	632.0	454.5	954.5	1,698	1,172	1,171	1,171	1,171
Announcement Date	2/14/20	2/15/21	2/14/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	11,439	10,000	14,134	19,595	21,045	22,400	25,800	29,900
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	933	406	1,481	3,197	3,546	4,400	4,700	5,500
Operating Margin	8.16%	4.06%	10.48%	16.32%	16.85%	19.64%	18.22%	18.39%
Earnings before Tax (EBT) ¹	494	-61	1,347	2,865	2,892	3,900	4,200	5,000
Net income ¹	365	35	986	2,051	2,375	2,800	3,000	3,500
Net margin	3.19%	0.35%	6.98%	10.47%	11.29%	12.5%	11.63%	11.71%
EPS ²	21.85	2.035	57.00	109.2	129.6	165.0	176.8	206.2
Free Cash Flow ¹	985	1,667	-	-	-	540	3,533	3,869
FCF margin	8.61%	16.67%	-	-	-	2.41%	13.69%	12.94%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	269.86%	4,762.86%	-	-	-	19.29%	117.77%	110.54%
Dividend per Share ²	13.00	10.00	14.00	31.00	39.00	39.00	45.00	50.00
Announcement Date	2/14/20	2/15/21	2/14/22	2/14/23	2/14/24	-	-	-

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 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2
Net sales ¹	5,623	4,593	5,407	6,387	3,686	4,061	7,747	4,188	4,764	8,952	5,323	5,320	10,643	5,621	10,564	5,207	5,274	10,481	5,150	5,700	10,850	5,600	5,950	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	356	143	263	434	428	619	1,047	292	953	1,245	1,106	846	1,952	1,152	1,801	1,142	603	1,745	900	1,100	2,000	1,200	1,200	2,400
Operating Margin	6.33%	3.11%	4.86%	6.8%	11.61%	15.24%	13.51%	6.97%	20%	13.91%	20.78%	15.9%	18.34%	20.49%	17.05%	21.93%	11.43%	16.65%	17.48%	19.3%	18.43%	21.43%	20.17%	-
Earnings before Tax (EBT)	-	-74	-	376	380	-	-	276	-	1,254	1,112	-	-	1,035	1,638	934	-	-	-	-	-	-	-	-
Net income	-	-34	-	237	237	-	-	165	-	901	722	-	-	685	1,021	602	-	-	-	-	-	-	-	-
Net margin	-	-0.74%	-	3.71%	6.43%	-	-	3.94%	-	10.06%	13.56%	-	-	12.19%	9.66%	11.56%	-	-	-	-	-	-	-	-
EPS	-	-2.030	-	13.78	13.69	-	-	8.675	-	47.46	38.14	-	-	40.62	60.40	35.48	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/14/20	9/25/20	2/15/21	8/13/21	11/12/21	2/14/22	2/14/22	5/13/22	8/12/22	8/12/22	11/14/22	2/14/23	2/14/23	5/15/23	8/14/23	11/14/23	2/14/24	2/14/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	14,418	12,522	12,150	13,254	13,339	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	985	1,667	-	-	-	540	3,533	3,869
ROE (net income / shareholders' equity)	3.6%	0.4%	9.1%	16.2%	16.7%	17.2%	16.4%	17.1%
ROA (Net income/ Total Assets)	1.77%	-0.22%	4.57%	8.65%	8.14%	-	-	-
Assets ¹	20,603	-15,959	21,592	23,711	29,173	-	-	-
Book Value Per Share ²	556.0	513.0	648.0	714.0	833.0	1,036	1,166	1,322
Cash Flow per Share	137.0	109.0	179.0	239.0	256.0	-	-	-
Capex ¹	230	84	605	541	1,949	4,500	1,000	1,000
Capex / Sales	2.01%	0.84%	4.28%	2.76%	9.26%	20.09%	3.88%	3.34%
Announcement Date	2/14/20	2/15/21	2/14/22	2/14/23	2/14/24	-	-	-

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 Ultrafabrics Holdings Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,171 JPY

Average target price

2,700 JPY

Spread / Average Target

+130.57%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Leather Goods

	1st Jan change	Capi.
ULTRAFABRICS HOLDINGS CO.,LTD.	-0.09%	116M
LESHAN GIANTSTAR FARMING&HUSBANDRY CORPORATION LIMITED	-7.71%	2.43B
WUXI DOUBLE ELEPHANT MICRO FIBRE MATERIAL CO.,LTD	-19.61%	599M
XINGYE LEATHER TECHNOLOGY CO., LTD.	+0.66%	493M
ANHUI ANLI MATERIAL TECHNOLOGY CO., LTD.	+7.01%	428M
MAYUR UNIQUOTERS LIMITED	-9.48%	269M
SHANDONG TONGDA ISLAND NEW MATERIALS CO.,LTD.	+0.72%	239M
BAIKSAN CO,. LTD	+28.73%	224M
CHOKWANG LEATHER CO.,LTD.	+3.91%	136M
UNI-CHEM CO., LTD.	-14.27%	126M

Leather Goods