Financials Fuji Media Holdings, Inc.

Equities

4676

JP3819400007

Broadcasting

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-13 am EDT			5-day change	1st Jan Change
1,840 ^JPY	-2.15%		-1.53%	+17.31%

May. 09	Fuji Media Holdings, Inc. Announces Year End Dividend for the Year Ended March 31, 2024, Payable on June 27, 2024	CI
May. 09	Fuji Media Holdings, Inc. Provides Dividend Guidance for the End of Second Quarter and Full Year Ending March 31, 2025	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	354,536	249,313	301,421	260,885	265,750	402,543	-	-
Enterprise Value (EV) ¹	390,568	318,839	381,961	333,138	319,163	428,441	551,443	579,043
P/E ratio	15 x	6.04 x	30.6 x	10.5 x	5.67 x	11.7 x	14.1 x	12.5 x
Yield	2.88%	4.09%	2.66%	3.24%	4.18%	2.42%	2.66%	3.16%
Capitalization / Revenue	0.53 x	0.39 x	0.58 x	0.5 x	0.5 x	0.76 x	0.67 x	0.68 x
EV / Revenue	0.58 x	0.5 x	0.73 x	0.63 x	0.6 x	0.76 x	0.92 x	0.97 x
EV / EBITDA	7.46 x	7.48 x	11.4 x	6.53 x	6.56 x	9.81 x	9.6 x	9.79 x
EV / FCF	13.5 x	-18.7 x	-141 x	47.1 x	11 x	-25 x	-819 x	200 x
FCF Yield	7.39%	-5.35%	-0.71%	2.12%	9.09%	-3.99%	-0.12%	0.5%
Price to Book	0.48 x	0.34 x	0.39 x	0.33 x	0.32 x	0.5 x	0.47 x	0.46 x
Nbr of stocks (in thousands)	232,026	231,488	222,451	222,408	222,385	214,062	-	-
Reference price ²	1,528	1,077	1,355	1,173	1,195	1,880	1,880	1,880
Announcement Date	5/15/19	5/13/20	5/13/21	5/12/22	5/11/23	5/9/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	669,230	631,482	519,941	525,087	535,641	566,443	597,688	595,676
EBITDA ¹	52,354	42,646	33,495	51,020	48,687	52,281	57,452	59,123
EBIT ¹	34,709	26,341	16,274	33,338	31,401	33,519	35,300	38,161
Operating Margin	5.19%	4.17%	3.13%	6.35%	5.86%	5.92%	5.91%	6.41%
Earnings before Tax (EBT) ¹	36,355	56,833	21,268	34,631	64,742	54,401	46,250	50,350
Net income ¹	23,627	41,307	10,112	24,879	46,855	37,082	30,917	33,066
Net margin	3.53%	6.54%	1.94%	4.74%	8.75%	6.55%	5.17%	5.55%
EPS ²	102.0	178.4	44.31	111.9	210.7	169.3	133.6	150.7
Free Cash Flow ¹	28,856	-17,053	-2,713	7,069	29,009	-20,486	-673.2	2,890
FCF margin	4.31%	-2.7%	-0.52%	1.35%	5.42%	-3.68%	-0.11%	0.49%
FCF Conversion (EBITDA)	55.12%	-	-	13.86%	59.58%	-	-	4.89%
FCF Conversion (Net income)	122.13%	-	-	28.41%	61.91%	-	-	8.74%
Dividend per Share ²	44.00	44.00	36.00	38.00	50.00	48.00	50.00	59.50
Announcement Date	5/15/19	5/13/20	5/13/21	5/12/22	5/11/23	5/9/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4
Net sales ¹	316,550	246,868	130,102	241,503	153,768	129,816	126,633	122,479	249,112	136,449	150,080	132,279	135,266	267,545	142,506	156,392
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	18,277	4,847	6,933	11,576	14,758	7,004	7,851	4,305	12,156	10,283	8,962	5,599	7,422	13,021	10,580	9,918
Operating Margin	5.77%	1.96%	5.33%	4.79%	9.6%	5.4%	6.2%	3.51%	4.88%	7.54%	5.97%	4.23%	5.49%	4.87%	7.42%	6.34%
Earnings before Tax (EBT) ¹	39,738	7,682	-	18,410	17,754	-1,533	10,575	5,327	15,902	12,733	36,107	7,555	7,811	15,366	13,043	25,992
Net income ¹	28,854	5,417	9,500	13,638	12,871	-1,630	7,785	3,950	11,735	8,997	26,123	5,169	4,884	10,053	9,203	17,826
Net margin	9.12%	2.19%	7.3%	5.65%	8.37%	-1.26%	6.15%	3.23%	4.71%	6.59%	17.41%	3.91%	3.61%	3.76%	6.46%	11.4%
EPS	124.6	23.46	-	61.31	57.87	-	35.01	-	52.77	40.45	-	23.29	29.48	45.51	42.04	-
Dividend per Share	22.00	18.00	-	18.00	-	-	-	-	20.00	-	-	-	-	24.00	-	-
Announcement Date	11/7/19	11/5/20	11/4/21	11/4/21	2/3/22	5/12/22	8/4/22	11/2/22	11/2/22	2/7/23	5/11/23	8/3/23	11/2/23	11/2/23	2/6/24	5/9/24

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	36,032	69,526	80,540	72,253	53,413	110,247	148,900	176,500
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.6882 x	1.63 x	2.405 x	1.416 x	1.097 x	2.109 x	2.592 x	2.985 x
Free Cash Flow ¹	28,856	-17,053	-2,713	7,069	29,009	-20,486	-673	2,890
ROE (net income / shareholders' equity)	3.3%	5.6%	1.3%	3.2%	5.7%	4.4%	3.53%	3.72%
ROA (Net income/ Total Assets)	3.31%	2.74%	1.72%	3.41%	2.87%	2.77%	2.55%	3.2%
Assets ¹	714,874	1,508,155	587,501	729,977	1,630,885	1,340,171	1,212,431	1,033,312
Book Value Per Share ²	3,151	3,179	3,479	3,588	3,767	3,973	4,038	4,123
Cash Flow per Share	178.0	249.0	122.0	193.0	291.0	253.0	-	-
Capex ¹	74,784	42,896	48,557	40,213	53,363	84,375	56,375	55,425
Capex / Sales	11.17%	6.79%	9.34%	7.66%	9.96%	15.17%	9.43%	9.3%
Announcement Date	5/15/19	5/13/20	5/13/21	5/12/22	5/11/23	5/9/24	-	-

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 Fuji Media Holdings, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1,880 JPY

Average target price

1,888 JPY

Spread / Average Target

+0.42%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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