USHIO INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,078 JPY | +2.74% |
|
+6.18% | +2.59% |
| Mar. 29 | Ushio Receives 15.29 Billion Yen in Dividends From Consolidated Subsidiary | MT |
| Mar. 26 | Japanese Shares Muted as Wall Street Rally Pauses Ahead of Key Economic Data | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 163,668 | 124,494 | 175,921 | 220,199 | 190,105 | 212,849 | - | - |
| Enterprise Value (EV) 1 | 102,546 | 81,848 | 123,970 | 145,162 | 131,611 | 175,754 | 163,907 | 163,094 |
| P/E ratio | 14.5 x | 14.1 x | -256 x | 17.5 x | 14.4 x | 22.6 x | 21.8 x | 17.2 x |
| Yield | 3.87% | 2.52% | 1.78% | 2.74% | 3% | 2.41% | 2.61% | 2.82% |
| Capitalization / Revenue | 0.99 x | 0.78 x | 1.48 x | 1.48 x | 1.09 x | 1.18 x | 1.16 x | 1.08 x |
| EV / Revenue | 0.62 x | 0.51 x | 1.05 x | 0.98 x | 0.75 x | 0.98 x | 0.89 x | 0.83 x |
| EV / EBITDA | 5.33 x | 5.91 x | 15.3 x | 7.2 x | 5.57 x | 8.59 x | 7.3 x | 6.29 x |
| EV / FCF | 8.86 x | -11.5 x | 16.2 x | 9.01 x | -433 x | 26.9 x | 17.1 x | 17.4 x |
| FCF Yield | 11.3% | -8.66% | 6.16% | 11.1% | -0.23% | 3.72% | 5.84% | 5.73% |
| Price to Book | 0.76 x | 0.62 x | 0.83 x | 0.94 x | 0.8 x | 0.95 x | 0.93 x | 0.86 x |
| Nbr of stocks (in thousands) | 126,678 | 120,517 | 120,576 | 120,591 | 114,177 | 102,430 | - | - |
| Reference price 2 | 1,292 | 1,033 | 1,459 | 1,826 | 1,665 | 2,078 | 2,078 | 2,078 |
| Announcement Date | 5/10/19 | 5/12/20 | 5/11/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 165,138 | 159,009 | 118,558 | 148,821 | 175,025 | 180,196 | 183,461 | 196,912 |
| EBITDA 1 | 19,236 | 13,841 | 8,111 | 20,170 | 23,645 | 20,467 | 22,449 | 25,945 |
| EBIT 1 | 8,517 | 6,659 | 764 | 13,068 | 15,861 | 12,443 | 13,062 | 16,253 |
| Operating Margin | 5.16% | 4.19% | 0.64% | 8.78% | 9.06% | 6.91% | 7.12% | 8.25% |
| Earnings before Tax (EBT) 1 | 20,390 | 12,984 | 130 | 15,762 | 20,220 | 13,955 | 14,717 | 18,413 |
| Net income 1 | 11,326 | 8,967 | -687 | 12,606 | 13,699 | 9,751 | 10,701 | 13,094 |
| Net margin | 6.86% | 5.64% | -0.58% | 8.47% | 7.83% | 5.41% | 5.83% | 6.65% |
| EPS 2 | 88.85 | 73.25 | -5.700 | 104.5 | 115.7 | 92.08 | 95.45 | 121.1 |
| Free Cash Flow 1 | 11,572 | -7,091 | 7,631 | 16,109 | -304 | 6,535 | 9,567 | 9,353 |
| FCF margin | 7.01% | -4.46% | 6.44% | 10.82% | -0.17% | 3.63% | 5.21% | 4.75% |
| FCF Conversion (EBITDA) | 60.16% | - | 94.08% | 79.87% | - | 31.93% | 42.62% | 36.05% |
| FCF Conversion (Net income) | 102.17% | - | - | 127.79% | - | 67.02% | 89.41% | 71.43% |
| Dividend per Share 2 | 50.00 | 26.00 | 26.00 | 50.00 | 50.00 | 50.00 | 54.25 | 58.50 |
| Announcement Date | 5/10/19 | 5/12/20 | 5/11/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 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 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 82,005 | 77,004 | 52,021 | 66,537 | 36,613 | 71,594 | 38,120 | 39,107 | 77,227 | 39,728 | 48,227 | 87,955 | 40,407 | 46,663 | 87,070 | 39,281 | 45,722 | 85,003 | 47,507 | 48,890 | 96,397 | 40,700 | 48,800 | 90,800 | 51,000 | 58,200 | 109,200 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 4,863 | 1,796 | -1,068 | 1,832 | 3,992 | 6,566 | 4,241 | 2,261 | 6,502 | 4,477 | 5,634 | 10,111 | 3,416 | 2,334 | 5,750 | 2,055 | 2,914 | 4,969 | 5,237 | 3,162 | 7,531 | 2,350 | 3,500 | 6,100 | 4,200 | 4,700 | 8,900 |
| Operating Margin | 5.93% | 2.33% | -2.05% | 2.75% | 10.9% | 9.17% | 11.13% | 5.78% | 8.42% | 11.27% | 11.68% | 11.5% | 8.45% | 5% | 6.6% | 5.23% | 6.37% | 5.85% | 11.02% | 6.47% | 7.81% | 5.77% | 7.17% | 6.72% | 8.24% | 8.08% | 8.15% |
| Earnings before Tax (EBT) | 4,948 | - | -1,196 | - | 4,254 | 8,468 | 4,816 | 2,478 | 7,294 | 6,455 | 7,538 | 13,993 | 4,118 | 2,109 | 6,227 | 3,097 | 3,379 | 6,476 | 6,270 | - | - | - | - | - | - | - | - |
| Net income 1 | 3,025 | 5,942 | -1,971 | 1,284 | 3,128 | 6,506 | 3,681 | 2,419 | 6,100 | 3,858 | 5,654 | 9,512 | 2,566 | 1,621 | 4,187 | 1,794 | 2,465 | 4,259 | 4,432 | 1,670 | 5,292 | 1,932 | 2,695 | 4,760 | 3,185 | 3,535 | 6,720 |
| Net margin | 3.69% | 7.72% | -3.79% | 1.93% | 8.54% | 9.09% | 9.66% | 6.19% | 7.9% | 9.71% | 11.72% | 10.81% | 6.35% | 3.47% | 4.81% | 4.57% | 5.39% | 5.01% | 9.33% | 3.42% | 5.49% | 4.75% | 5.52% | 5.24% | 6.25% | 6.07% | 6.15% |
| EPS 2 | 24.41 | 48.84 | -16.36 | 10.66 | 25.94 | 53.96 | 30.52 | 20.06 | 50.58 | 32.18 | 47.73 | 79.91 | 21.90 | 13.88 | 35.78 | 15.36 | 21.56 | 36.92 | 39.92 | 15.10 | 46.75 | 17.10 | 24.60 | 43.50 | 29.10 | 32.30 | 61.50 |
| Dividend per Share 2 | - | 26.00 | - | 26.00 | - | - | - | 50.00 | 50.00 | - | - | - | - | 50.00 | 50.00 | - | - | - | - | 28.40 | 28.40 | - | 21.60 | 21.60 | - | 30.40 | 30.40 |
| Announcement Date | 10/31/19 | 5/12/20 | 10/30/20 | 5/11/21 | 11/2/21 | 11/2/21 | 2/3/22 | 5/11/22 | 5/11/22 | 8/2/22 | 11/2/22 | 11/2/22 | 2/3/23 | 5/11/23 | 5/11/23 | 8/7/23 | 11/6/23 | 11/6/23 | 2/9/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 61,122 | 42,646 | 51,951 | 75,037 | 58,494 | 37,095 | 48,942 | 49,755 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 11,572 | -7,091 | 7,631 | 16,109 | -304 | 6,535 | 9,567 | 9,353 |
| ROE (net income / shareholders' equity) | 5.3% | 4.3% | -0.3% | 5.7% | 5.7% | 4.04% | 4.7% | 5.53% |
| ROA (Net income/ Total Assets) | 3.73% | 3.01% | 1.21% | 4.97% | 6.25% | 3.73% | 3.75% | 5.31% |
| Assets 1 | 303,914 | 298,386 | -56,982 | 253,601 | 219,222 | 261,289 | 285,049 | 246,553 |
| Book Value Per Share 2 | 1,691 | 1,665 | 1,751 | 1,950 | 2,074 | 2,195 | 2,243 | 2,423 |
| Cash Flow per Share | 142.0 | 132.0 | 52.30 | 162.0 | 180.0 | - | - | - |
| Capex 1 | 8,462 | 8,270 | 6,886 | 7,378 | 9,107 | 7,717 | 7,709 | 8,172 |
| Capex / Sales | 5.12% | 5.2% | 5.81% | 4.96% | 5.2% | 4.28% | 4.2% | 4.15% |
| Announcement Date | 5/10/19 | 5/12/20 | 5/11/21 | 5/11/22 | 5/11/23 | - | - | - |
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
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
2,078
JPY
Average target price
2,025
JPY
Spread / Average Target
-2.55%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.59% | 1.35B | |
| +4.53% | 149B | |
| +34.66% | 130B | |
| +19.57% | 130B | |
| +12.90% | 62.82B | |
| +7.65% | 41.04B | |
| +94.65% | 35B | |
| +6.26% | 32.1B | |
| -9.78% | 32.1B | |
| +3.97% | 27.31B |
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- Financials Ushio Inc.
