DENKA COMPANY LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,272 JPY | +0.58% |
|
-1.28% | -8.97% |
| May. 16 | Kanto Denka Kogyo Abolishes Takeover Defense Measures | MT |
| Apr. 24 | Denka Company Limited agreed to acquire 50% stake in Frontier Carbon Corporation from Mitsubishi Corporation. | CI |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 277,352 | 196,390 | 381,098 | 293,345 | 235,838 | 195,793 | - | - |
| Enterprise Value (EV) 1 | 375,582 | 301,557 | 493,377 | 410,166 | 385,368 | 202,215 | 371,951 | 372,658 |
| P/E ratio | 11.1 x | 8.67 x | 16.7 x | 11.3 x | 18.5 x | 16.9 x | 17.8 x | 9.46 x |
| Yield | 3.76% | 5.49% | 2.83% | 4.26% | 3.66% | 4.26% | 4.4% | 4.55% |
| Capitalization / Revenue | 0.67 x | 0.52 x | 1.08 x | 0.76 x | 0.58 x | 0.52 x | 0.48 x | 0.46 x |
| EV / Revenue | 0.91 x | 0.79 x | 1.39 x | 1.07 x | 0.95 x | 0.52 x | 0.92 x | 0.88 x |
| EV / EBITDA | 6.63 x | 5.63 x | 8.56 x | 6.41 x | 6.49 x | 8.55 x | 7.61 x | 6.15 x |
| EV / FCF | 57.9 x | 38.9 x | 130 x | 70.8 x | -19.9 x | 10.9 x | -48.9 x | -19.3 x |
| FCF Yield | 1.73% | 2.57% | 0.77% | 1.41% | -5.01% | 9.2% | -2.04% | -5.19% |
| Price to Book | 1.12 x | 0.78 x | 1.42 x | 1.02 x | 0.8 x | 0.66 x | 0.62 x | 0.6 x |
| Nbr of stocks (in thousands) | 86,944 | 86,249 | 86,221 | 86,278 | 86,230 | 86,177 | - | - |
| Reference price 2 | 3,190 | 2,277 | 4,420 | 3,400 | 2,735 | 2,272 | 2,272 | 2,272 |
| Announcement Date | 5/13/19 | 5/13/20 | 5/12/21 | 5/11/22 | 5/11/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 413,128 | 380,803 | 354,391 | 384,849 | 407,559 | 389,263 | 406,375 | 421,950 |
| EBITDA 1 | 56,662 | 53,559 | 57,640 | 64,005 | 59,364 | 40,629 | 48,893 | 60,596 |
| EBIT 1 | 34,228 | 31,587 | 34,729 | 40,123 | 32,324 | 13,376 | 19,933 | 31,517 |
| Operating Margin | 8.29% | 8.29% | 9.8% | 10.43% | 7.93% | 3.44% | 4.91% | 7.47% |
| Earnings before Tax (EBT) 1 | 32,392 | 29,011 | 29,052 | 34,633 | 14,590 | 14,483 | 19,400 | 28,667 |
| Net income 1 | 25,046 | 22,703 | 22,785 | 26,012 | 12,768 | 11,947 | 11,000 | 20,700 |
| Net margin | 6.06% | 5.96% | 6.43% | 6.76% | 3.13% | 3.07% | 2.71% | 4.91% |
| EPS 2 | 286.2 | 262.6 | 264.2 | 301.7 | 148.1 | 138.6 | 127.6 | 240.2 |
| Free Cash Flow 1 | 6,484 | 7,749 | 3,782 | 5,791 | -19,322 | 31,982 | -7,601 | -19,335 |
| FCF margin | 1.57% | 2.03% | 1.07% | 1.5% | -4.74% | 8.35% | -1.87% | -4.58% |
| FCF Conversion (EBITDA) | 11.44% | 14.47% | 6.56% | 9.05% | - | 78.72% | - | - |
| FCF Conversion (Net income) | 25.89% | 34.13% | 16.6% | 22.26% | - | 287.2% | - | - |
| Dividend per Share 2 | 120.0 | 125.0 | 125.0 | 145.0 | 100.0 | 100.0 | 100.0 | 103.3 |
| Announcement Date | 5/13/19 | 5/13/20 | 5/12/21 | 5/11/22 | 5/11/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 2020 S1 | 2020 S2 | 2021 S1 | 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 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 191,953 | - | 160,302 | 104,416 | 191,143 | 92,834 | 100,872 | - | 94,369 | 108,559 | 202,928 | 105,805 | 98,826 | 204,631 | 87,829 | 103,540 | 191,369 | 101,474 | 96,420 | 91,850 | 107,900 | 105,450 | 97,050 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 15,348 | 16,239 | 12,065 | 17,476 | 25,224 | 6,957 | 7,942 | 14,899 | 4,902 | 13,406 | 18,308 | 7,752 | 6,264 | 14,016 | 2,796 | 7,739 | 10,535 | 2,018 | 823 | 2,950 | 6,600 | 5,200 | 5,150 |
| Operating Margin | 8% | - | 7.53% | 16.74% | 13.2% | 7.49% | 7.87% | - | 5.19% | 12.35% | 9.02% | 7.33% | 6.34% | 6.85% | 3.18% | 7.47% | 5.51% | 1.99% | 0.85% | 3.21% | 6.12% | 4.93% | 5.31% |
| Earnings before Tax (EBT) | 13,937 | - | 12,197 | 16,130 | 23,651 | 5,531 | - | - | 5,148 | - | 18,553 | -8,708 | - | - | 3,204 | 5,784 | 8,988 | -5,920 | - | - | - | - | - |
| Net income 1 | 10,852 | - | 10,008 | 11,889 | 18,045 | 4,866 | 3,101 | - | 4,337 | 9,990 | 14,327 | -5,485 | 3,926 | -1,559 | 2,295 | 4,264 | 6,559 | -2,977 | 8,365 | 600 | 5,300 | 2,500 | 2,600 |
| Net margin | 5.65% | - | 6.24% | 11.39% | 9.44% | 5.24% | 3.07% | - | 4.6% | 9.2% | 7.06% | -5.18% | 3.97% | -0.76% | 2.61% | 4.12% | 3.43% | -2.93% | 8.68% | 0.65% | 4.91% | 2.37% | 2.68% |
| EPS 2 | 125.2 | - | 116.1 | 137.9 | 209.3 | 56.42 | 35.96 | - | 50.30 | 115.8 | 166.2 | -63.61 | 45.54 | - | 26.63 | 49.46 | 76.09 | -34.53 | 97.05 | - | - | - | - |
| Dividend per Share | 60.00 | - | 60.00 | - | 70.00 | - | - | - | - | - | 70.00 | - | - | - | - | - | 60.00 | - | - | - | - | - | - |
| Announcement Date | 11/8/19 | 5/13/20 | 11/9/20 | 11/8/21 | 11/8/21 | 2/7/22 | 5/11/22 | 5/11/22 | 8/5/22 | 11/8/22 | 11/8/22 | 2/7/23 | 5/11/23 | 5/11/23 | 8/7/23 | 11/8/23 | 11/8/23 | 2/7/24 | 5/10/24 | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 98,230 | 105,167 | 112,279 | 116,821 | 149,530 | 151,755 | 176,158 | 176,865 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.734 x | 1.964 x | 1.948 x | 1.825 x | 2.519 x | 3.735 x | 3.603 x | 2.919 x |
| Free Cash Flow 1 | 6,484 | 7,749 | 3,782 | 5,791 | -19,322 | 31,982 | -7,601 | -19,335 |
| ROE (net income / shareholders' equity) | 10.3% | 9.1% | 8.8% | 9.4% | 4.4% | 4% | 3.5% | 6.44% |
| ROA (Net income/ Total Assets) | 6.84% | 6.1% | 6.26% | 6.73% | 4.87% | 0.91% | 2.4% | 4.1% |
| Assets 1 | 365,989 | 372,390 | 364,173 | 386,422 | 261,922 | 1,318,668 | 458,333 | 504,878 |
| Book Value Per Share 2 | 2,839 | 2,907 | 3,102 | 3,345 | 3,438 | 3,569 | 3,686 | 3,782 |
| Cash Flow per Share 2 | 543.0 | 517.0 | 524.0 | 573.0 | 456.0 | 446.0 | 490.0 | 563.0 |
| Capex 1 | 32,745 | 34,205 | 42,323 | 35,644 | 39,369 | 43,686 | 42,667 | 51,000 |
| Capex / Sales | 7.93% | 8.98% | 11.94% | 9.26% | 9.66% | 11.22% | 10.5% | 12.09% |
| Announcement Date | 5/13/19 | 5/13/20 | 5/12/21 | 5/11/22 | 5/11/23 | 5/10/24 | - | - |
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
B+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
7
Last Close Price
2,272
JPY
Average target price
2,657
JPY
Spread / Average Target
+16.93%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -8.97% | 1.26B | |
| +5.41% | 106B | |
| -3.11% | 64.74B | |
| +73.33% | 49.34B | |
| +17.24% | 39.15B | |
| +6.13% | 32.86B | |
| +12.77% | 20.29B | |
| +15.03% | 17.21B | |
| +19.06% | 15.28B | |
| +6.28% | 14.58B |
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- Financials Denka Company Limited
