Financials Sanken Electric Co., Ltd.

Equities

6707

JP3329600005

Semiconductors

Delayed Japan Exchange Other stock markets 12:33:34 2024-05-07 am EDT			5-day change	1st Jan Change
6,965 ^JPY	+1.09%		+0.29%	-10.29%

Jan. 05	Japanese firms rush to resume production as earthquake disrupts local economy	RE
2023	Sanken Electric Co., Ltd.(TSE:6707) added to S&P Japan 500	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	49,775	50,805	125,242	125,511	254,948	166,382	-	-
Enterprise Value (EV) ¹	97,703	79,421	134,584	131,874	268,818	170,569	165,640	154,301
P/E ratio	12.5 x	-9.15 x	-18 x	39.2 x	26.7 x	75.9 x	37.8 x	17.4 x
Yield	1.46%	1.43%	-	0.58%	0.28%	0.38%	0.38%	0.44%
Capitalization / Revenue	0.29 x	0.32 x	0.8 x	0.71 x	1.13 x	0.72 x	0.72 x	0.64 x
EV / Revenue	0.56 x	0.5 x	0.86 x	0.75 x	1.19 x	0.74 x	0.71 x	0.6 x
EV / EBITDA	4.52 x	4.75 x	11.7 x	4.88 x	6.43 x	4.29 x	4.28 x	3.06 x
EV / FCF	-15.5 x	16.5 x	-19.6 x	122 x	-31.7 x	-29.4 x	18.1 x	7.27 x
FCF Yield	-6.45%	6.05%	-5.1%	0.82%	-3.15%	-3.4%	5.53%	13.8%
Price to Book	0.85 x	1.02 x	1.5 x	1.32 x	2.29 x	1.52 x	1.43 x	1.32 x
Nbr of stocks (in thousands)	24,233	24,158	24,131	24,137	24,143	24,148	-	-
Reference price ²	2,054	2,103	5,190	5,200	10,560	6,890	6,890	6,890
Announcement Date	5/8/19	5/15/20	5/11/21	5/12/22	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	173,650	160,217	156,795	175,660	225,387	231,040	231,734	258,366
EBITDA ¹	21,600	16,707	11,485	27,044	41,832	39,738	38,667	50,473
EBIT ¹	10,531	4,309	-1,198	13,720	26,156	23,558	21,725	32,705
Operating Margin	6.06%	2.69%	-0.76%	7.81%	11.6%	10.2%	9.38%	12.66%
Earnings before Tax (EBT) ¹	9,028	-1,638	-7,197	13,275	26,250	17,726	13,554	27,392
Net income ¹	3,967	-5,559	-6,952	3,204	9,533	2,250	4,425	9,628
Net margin	2.28%	-3.47%	-4.43%	1.82%	4.23%	0.97%	1.91%	3.73%
EPS ²	163.7	-229.8	-288.0	132.8	394.9	90.77	182.4	395.4
Free Cash Flow ¹	-6,297	4,807	-6,862	1,077	-8,479	-5,802	9,164	21,236
FCF margin	-3.63%	3%	-4.38%	0.61%	-3.76%	-2.51%	3.95%	8.22%
FCF Conversion (EBITDA)	-	28.77%	-	3.98%	-	-	23.7%	42.07%
FCF Conversion (Net income)	-	-	-	33.61%	-	-	207.08%	220.57%
Dividend per Share ²	30.00	30.00	-	30.00	30.00	26.25	26.25	30.00
Announcement Date	5/8/19	5/15/20	5/11/21	5/12/22	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	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	78,289	81,928	68,138	88,657	42,107	86,421	42,496	46,743	89,239	49,632	56,333	105,965	57,308	62,114	119,422	59,906	61,644	121,550	58,278	51,732	53,050	54,700	55,850	59,400
EBITDA	-	10,252	-	5,723	-	-	-	-	14,014	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	291	4,018	-630	-568	3,229	6,449	3,230	4,041	7,271	935	7,261	8,196	8,666	9,294	17,960	8,527	8,631	17,158	4,627	1,088	3,600	4,900	6,050	6,050
Operating Margin	0.37%	4.9%	-0.92%	-0.64%	7.67%	7.46%	7.6%	8.65%	8.15%	1.88%	12.89%	7.73%	15.12%	14.96%	15.04%	14.23%	14%	14.12%	7.94%	2.1%	6.79%	8.96%	10.83%	10.19%
Earnings before Tax (EBT) ¹	-2,245	607	-3,473	-3,724	4,219	7,235	2,160	3,880	6,040	1,000	7,175	8,175	8,900	9,175	18,075	7,750	8,258	16,008	2,987	-2,795	2,350	3,600	4,800	4,550
Net income ¹	-4,222	-1,337	-4,889	-2,063	1,112	1,958	-372	1,618	1,246	157	2,797	2,954	3,499	3,080	6,579	2,229	2,219	4,448	34	-4,682	450	600	900	550
Net margin	-5.39%	-1.63%	-7.18%	-2.33%	2.64%	2.27%	-0.88%	3.46%	1.4%	0.32%	4.97%	2.79%	6.11%	4.96%	5.51%	3.72%	3.6%	3.66%	0.06%	-9.05%	0.85%	1.1%	1.61%	0.93%
EPS	-174.3	-55.50	-202.4	-85.52	46.11	81.17	-15.45	67.07	51.62	6.540	115.9	122.4	144.9	127.6	272.5	92.35	91.92	184.3	1.370	-	-	-	-	-
Dividend per Share	15.00	15.00	-	-	-	15.00	-	-	15.00	-	-	15.00	-	-	15.00	-	-	15.00	-	-	-	-	-	-
Announcement Date	11/6/19	5/15/20	11/6/20	5/11/21	11/5/21	11/5/21	2/3/22	5/12/22	5/12/22	8/5/22	11/4/22	11/4/22	2/3/23	5/11/23	5/11/23	8/4/23	11/7/23	11/7/23	2/6/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	47,928	28,616	9,342	6,363	13,870	4,187	-	-
Net Cash position ¹	-	-	-	-	-	-	742	12,081
Leverage (Debt/EBITDA)	2.219 x	1.713 x	0.8134 x	0.2353 x	0.3316 x	0.1054 x	-	-
Free Cash Flow ¹	-6,297	4,807	-6,862	1,077	-8,479	-5,802	9,164	21,236
ROE (net income / shareholders' equity)	7%	-10.3%	-10.4%	3.6%	9.3%	2.7%	3.85%	8.72%
ROA (Net income/ Total Assets)	4.91%	-2.91%	-1.59%	1.34%	9.96%	1%	0.5%	2.6%
Assets ¹	80,842	191,108	436,486	239,194	95,698	225,050	885,067	370,308
Book Value Per Share ²	2,405	2,063	3,463	3,935	4,602	4,542	4,814	5,233
Cash Flow per Share	658.0	283.0	237.0	685.0	1,044	-	-	-
Capex ¹	20,901	12,019	14,491	17,133	22,432	26,865	17,820	17,757
Capex / Sales	12.04%	7.5%	9.24%	9.75%	9.95%	11.63%	7.69%	6.87%
Announcement Date	5/8/19	5/15/20	5/11/21	5/12/22	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

Ratings for Sanken Electric Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

6,890 JPY

Average target price

10,233 JPY

Spread / Average Target

+48.52%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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