SANTEN PHARMACEUTICAL CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,614 JPY | -0.28% |
|
+5.66% | +14.91% |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 658,032 | 742,066 | 608,810 | 490,898 | 424,342 | 588,036 | - | - |
| Enterprise Value (EV) 1 | 587,236 | 662,964 | 545,395 | 406,591 | 366,439 | 559,190 | 569,644 | 521,611 |
| P/E ratio | 21 x | 31.4 x | 89.1 x | 18 x | -29.3 x | 21.2 x | 17.3 x | 16.7 x |
| Yield | 1.58% | 1.45% | 1.84% | 2.61% | 2.83% | 2.15% | 2.09% | 2.32% |
| Capitalization / Revenue | 2.81 x | 3.07 x | 2.44 x | 1.84 x | 1.52 x | 1.85 x | 2 x | 2.02 x |
| EV / Revenue | 2.51 x | 2.74 x | 2.19 x | 1.53 x | 1.31 x | 1.85 x | 1.94 x | 1.79 x |
| EV / EBITDA | 10.5 x | 13.2 x | 18.4 x | 7.68 x | 25.9 x | 9.35 x | 8.9 x | 8.11 x |
| EV / FCF | 19.6 x | 19.1 x | -37.5 x | 37.4 x | 35.3 x | 23 x | 14.3 x | 12.6 x |
| FCF Yield | 5.1% | 5.24% | -2.67% | 2.67% | 2.83% | 4.35% | 7% | 7.97% |
| Price to Book | 2.26 x | 2.45 x | 1.98 x | 1.45 x | 1.44 x | 1.82 x | 1.78 x | 1.71 x |
| Nbr of stocks (in thousands) | 399,049 | 399,390 | 399,744 | 400,080 | 375,524 | 363,209 | - | - |
| Reference price 2 | 1,649 | 1,858 | 1,523 | 1,227 | 1,130 | 1,619 | 1,619 | 1,619 |
| Announcement Date | 5/9/19 | 5/8/20 | 5/11/21 | 5/10/22 | 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 | 234,026 | 241,555 | 249,605 | 266,257 | 279,037 | 301,965 | 293,315 | 291,294 |
| EBITDA 1 | 56,067 | 50,108 | 29,685 | 52,941 | 14,159 | 63,976 | 64,038 | 64,321 |
| EBIT 1 | 45,098 | 33,535 | 12,917 | 35,886 | -3,090 | 38,541 | 45,350 | 46,181 |
| Operating Margin | 19.27% | 13.88% | 5.17% | 13.48% | -1.11% | 12.76% | 15.46% | 15.85% |
| Earnings before Tax (EBT) 1 | 43,117 | 32,091 | 12,418 | 35,616 | -5,799 | 29,874 | 44,656 | 46,885 |
| Net income 1 | 31,954 | 23,618 | 6,830 | 27,218 | -14,948 | 26,642 | 33,507 | 34,961 |
| Net margin | 13.65% | 9.78% | 2.74% | 10.22% | -5.36% | 8.82% | 11.42% | 12% |
| EPS 2 | 78.67 | 59.16 | 17.09 | 68.07 | -38.60 | 72.59 | 93.44 | 96.91 |
| Free Cash Flow 1 | 29,959 | 34,772 | -14,547 | 10,874 | 10,370 | 26,024 | 39,863 | 41,553 |
| FCF margin | 12.8% | 14.4% | -5.83% | 4.08% | 3.72% | 8.63% | 13.59% | 14.27% |
| FCF Conversion (EBITDA) | 53.43% | 69.39% | - | 20.54% | 73.24% | 40.68% | 62.25% | 64.6% |
| FCF Conversion (Net income) | 93.76% | 147.23% | - | 39.95% | - | 82.04% | 118.97% | 118.86% |
| Dividend per Share 2 | 26.00 | 27.00 | 28.00 | 32.00 | 32.00 | 33.00 | 33.78 | 37.50 |
| Announcement Date | 5/9/19 | 5/8/20 | 5/11/21 | 5/10/22 | 5/11/23 | 5/9/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2021 S2 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 118,775 | 118,905 | - | 63,773 | 128,759 | 67,042 | 70,456 | - | 65,533 | 63,382 | 128,915 | 70,871 | 79,251 | 72,389 | 73,417 | 145,806 | 77,027 | 79,132 | - | 69,922 | 70,583 | 146,000 | 75,600 | 80,634 | - | 140,500 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 15,743 | - | - | 15,116 | 13,003 | - | 16,021 | 19,059 | - | - | - |
| EBIT 1 | 19,000 | 18,686 | - | 9,268 | 18,805 | 7,575 | 9,506 | - | 8,333 | -27,354 | -19,021 | 8,874 | 7,057 | 12,750 | 12,349 | 25,099 | 11,058 | 2,384 | - | 10,550 | 8,800 | 25,800 | 12,500 | 12,300 | - | 25,400 | - |
| Operating Margin | 16% | 15.72% | - | 14.53% | 14.6% | 11.3% | 13.49% | - | 12.72% | -43.16% | -14.75% | 12.52% | 8.9% | 17.61% | 16.82% | 17.21% | 14.36% | 3.01% | - | 15.09% | 12.47% | 17.67% | 16.53% | 15.25% | - | 18.08% | - |
| Earnings before Tax (EBT) | 18,400 | 18,353 | - | 8,841 | 18,393 | 7,280 | - | - | 9,074 | -28,177 | -19,103 | 7,510 | 5,794 | 12,868 | - | 24,075 | 9,484 | - | - | 11,458 | 8,703 | 24,700 | 11,821 | 15,529 | - | 24,300 | - |
| Net income 1 | 13,100 | 13,813 | - | 6,924 | 14,307 | 5,042 | - | - | 6,663 | -28,704 | -22,041 | 5,977 | 1,116 | 10,414 | 8,866 | 19,280 | 7,333 | 29 | - | 8,654 | 6,369 | 19,100 | 8,739 | 11,654 | - | 18,700 | - |
| Net margin | 11.03% | 11.62% | - | 10.86% | 11.11% | 7.52% | - | - | 10.17% | -45.29% | -17.1% | 8.43% | 1.41% | 14.39% | 12.08% | 13.22% | 9.52% | 0.04% | - | 12.38% | 9.02% | 13.08% | 11.56% | 14.45% | - | 13.31% | - |
| EPS 2 | 32.94 | 34.58 | - | 17.32 | 35.79 | 12.60 | 19.68 | - | 16.79 | -72.84 | -56.05 | 14.92 | 2.530 | 27.93 | 24.13 | 52.06 | 20.20 | 0.3300 | - | 22.32 | 18.94 | 47.80 | 27.10 | 26.51 | - | 46.80 | - |
| Dividend per Share 2 | 13.00 | 14.00 | 14.00 | - | 16.00 | - | - | 16.00 | - | - | 16.00 | - | - | - | 16.00 | 16.00 | - | 17.00 | 17.00 | - | 17.00 | 17.00 | - | 17.00 | 17.00 | 18.00 | 18.00 |
| Announcement Date | 11/6/19 | 11/6/20 | 5/11/21 | 11/8/21 | 11/8/21 | 2/10/22 | 5/10/22 | 5/10/22 | 8/4/22 | 11/8/22 | 11/8/22 | 2/7/23 | 5/11/23 | 8/3/23 | 11/7/23 | 11/7/23 | 2/8/24 | 5/9/24 | 5/9/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | 10,051 | - | - |
| Net Cash position 1 | 70,796 | 79,102 | 63,415 | 84,307 | 57,903 | - | 18,392 | 66,425 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | 0.1571 x | - | - |
| Free Cash Flow 1 | 29,959 | 34,772 | -14,547 | 10,874 | 10,370 | 26,024 | 39,863 | 41,553 |
| ROE (net income / shareholders' equity) | 11.1% | 8% | 2.2% | 8.4% | -4.7% | 8.9% | 10.9% | 10.6% |
| ROA (Net income/ Total Assets) | 11.1% | 8.02% | 3.06% | 8.26% | -1.32% | 6.97% | 8.19% | 7.99% |
| Assets 1 | 288,899 | 294,371 | 223,061 | 329,499 | 1,135,668 | 382,087 | 409,123 | 437,670 |
| Book Value Per Share 2 | 729.0 | 759.0 | 770.0 | 844.0 | 783.0 | 843.0 | 907.0 | 948.0 |
| Cash Flow per Share 2 | 106.0 | 101.0 | 59.10 | 111.0 | 5.940 | 122.0 | 159.0 | 145.0 |
| Capex 1 | 8,333 | 5,824 | 4,139 | 35,841 | 24,588 | 14,200 | 13,340 | 13,760 |
| Capex / Sales | 3.56% | 2.41% | 1.66% | 13.46% | 8.81% | 4.71% | 4.55% | 4.72% |
| Announcement Date | 5/9/19 | 5/8/20 | 5/11/21 | 5/10/22 | 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
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
1,619
JPY
Average target price
1,827
JPY
Spread / Average Target
+12.85%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +14.91% | 3.75B | |
| +38.59% | 727B | |
| -7.89% | 347B | |
| +15.66% | 319B | |
| +0.24% | 274B | |
| +13.09% | 238B | |
| +7.00% | 204B | |
| -6.50% | 203B | |
| +4.23% | 161B | |
| -1.70% | 160B |
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- Financials Santen Pharmaceutical Co., Ltd.
