THE JAPAN STEEL WORKS, LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,577 JPY | +2.33% |
|
-3.26% | +86.82% |
| May. 17 | Jefferies Adjusts Japan Steel Works’ Price Target to 5,000 Yen From 4,100 Yen, Keeps at Buy | MT |
| Apr. 11 | Beijing, Washington Inflation Reports Blunt Asian Stock Markets | MT |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 149,879 | 96,176 | 193,231 | 281,034 | 182,414 | 336,845 | - | - |
| Enterprise Value (EV) 1 | 127,070 | 72,713 | 161,829 | 233,236 | 138,547 | 195,362 | 266,264 | 281,516 |
| P/E ratio | 7.5 x | 10.3 x | 28 x | 20.1 x | 15.2 x | 17.5 x | 20.3 x | 16 x |
| Yield | 2.7% | 3.44% | 1.33% | 1.49% | 2.34% | 1.74% | 1.5% | 1.94% |
| Capitalization / Revenue | 0.68 x | 0.44 x | 0.98 x | 1.31 x | 0.76 x | 0.99 x | 1.2 x | 1.04 x |
| EV / Revenue | 0.58 x | 0.33 x | 0.82 x | 1.09 x | 0.58 x | 0.77 x | 0.95 x | 0.87 x |
| EV / EBITDA | 4.39 x | 2.97 x | 9.82 x | 10.7 x | 6.73 x | 7.58 x | 8.07 x | 7.03 x |
| EV / FCF | -14.4 x | 8.68 x | 76.3 x | 12.1 x | -3,552 x | 20.5 x | 8.24 x | 20.6 x |
| FCF Yield | -6.97% | 11.5% | 1.31% | 8.3% | -0.03% | 4.88% | 12.1% | 4.86% |
| Price to Book | 1.17 x | 0.74 x | 1.38 x | 1.88 x | 1.15 x | 1.41 x | 1.92 x | 1.79 x |
| Nbr of stocks (in thousands) | 73,506 | 73,529 | 73,556 | 73,569 | 73,584 | 73,595 | - | - |
| Reference price 2 | 2,039 | 1,308 | 2,627 | 3,820 | 2,479 | 4,577 | 4,577 | 4,577 |
| Announcement Date | 5/13/19 | 5/25/20 | 5/10/21 | 5/11/22 | 5/12/23 | 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 | 220,153 | 217,527 | 198,041 | 213,790 | 238,721 | 252,501 | 280,000 | 323,540 |
| EBITDA 1 | 28,929 | 24,442 | 16,473 | 21,808 | 20,582 | 25,757 | 33,000 | 40,050 |
| EBIT 1 | 24,290 | 18,709 | 10,226 | 15,460 | 13,846 | 18,014 | 22,680 | 29,000 |
| Operating Margin | 11.03% | 8.6% | 5.16% | 7.23% | 5.8% | 7.13% | 8.1% | 8.96% |
| Earnings before Tax (EBT) 1 | 29,317 | 14,154 | 12,960 | 19,736 | 18,518 | 19,201 | 24,025 | 30,862 |
| Net income 1 | 19,966 | 9,310 | 6,893 | 13,948 | 11,974 | 14,278 | 16,610 | 21,057 |
| Net margin | 9.07% | 4.28% | 3.48% | 6.52% | 5.02% | 5.65% | 5.93% | 6.51% |
| EPS 2 | 271.7 | 126.7 | 93.76 | 189.6 | 162.8 | 194.0 | 225.2 | 285.5 |
| Free Cash Flow 1 | -8,853 | 8,374 | 2,120 | 19,349 | -39 | 9,524 | 32,299 | 13,695 |
| FCF margin | -4.02% | 3.85% | 1.07% | 9.05% | -0.02% | 3.77% | 11.54% | 4.23% |
| FCF Conversion (EBITDA) | - | 34.26% | 12.87% | 88.72% | - | 36.98% | 97.88% | 34.19% |
| FCF Conversion (Net income) | - | 89.95% | 30.76% | 138.72% | - | 66.7% | 194.46% | 65.04% |
| Dividend per Share 2 | 55.00 | 45.00 | 35.00 | 57.00 | 58.00 | 59.00 | 68.75 | 88.80 |
| Announcement Date | 5/13/19 | 5/25/20 | 5/10/21 | 5/11/22 | 5/12/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 106,282 | 90,100 | 45,199 | 91,199 | 55,842 | 66,749 | 122,591 | 45,029 | 58,620 | 103,649 | 58,547 | 76,525 | 54,751 | 55,433 | 110,184 | 63,703 | 78,614 | 59,300 | 60,400 | 68,300 | 80,200 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 11,176 | 4,729 | 3,409 | 7,113 | 3,017 | 5,330 | 8,347 | 648 | 2,461 | 3,109 | 2,932 | 7,805 | 2,755 | 3,029 | 5,784 | 5,454 | 6,776 | 3,500 | 3,900 | 6,300 | 7,300 |
| Operating Margin | 10.52% | 5.25% | 7.54% | 7.8% | 5.4% | 7.99% | 6.81% | 1.44% | 4.2% | 3% | 5.01% | 10.2% | 5.03% | 5.46% | 5.25% | 8.56% | 8.62% | 5.9% | 6.46% | 9.22% | 9.1% |
| Earnings before Tax (EBT) | 7,946 | 7,689 | - | 9,605 | 3,822 | - | - | 1,273 | - | 3,662 | 2,543 | - | 3,462 | 3,434 | 6,896 | 5,662 | - | 3,900 | 4,300 | 6,700 | 7,400 |
| Net income 1 | 5,205 | 3,580 | - | 6,713 | 2,334 | 4,901 | - | 518 | 1,242 | 1,760 | 1,559 | 8,655 | 2,452 | 2,311 | 4,763 | 4,205 | 5,310 | 2,200 | 2,600 | 5,000 | 6,400 |
| Net margin | 4.9% | 3.97% | - | 7.36% | 4.18% | 7.34% | - | 1.15% | 2.12% | 1.7% | 2.66% | 11.31% | 4.48% | 4.17% | 4.32% | 6.6% | 6.75% | 3.71% | 4.3% | 7.32% | 7.98% |
| EPS | 70.82 | 48.69 | - | 91.27 | 31.73 | - | - | 7.050 | - | 23.93 | 21.20 | - | 33.33 | - | 64.73 | 57.14 | - | - | - | - | - |
| Dividend per Share | 27.50 | 17.50 | - | 22.50 | - | - | - | - | - | 29.00 | - | - | - | - | 29.00 | - | - | - | - | - | - |
| Announcement Date | 11/11/19 | 11/9/20 | 11/15/21 | 11/15/21 | 2/7/22 | 5/11/22 | 5/11/22 | 8/8/22 | 11/14/22 | 11/14/22 | 2/13/23 | 5/12/23 | 8/7/23 | 11/10/23 | 11/10/23 | 2/13/24 | 5/10/24 | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 22,809 | 23,463 | 31,402 | 47,798 | 43,867 | 53,979 | 70,581 | 55,330 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -8,853 | 8,374 | 2,120 | 19,349 | -39 | 9,524 | 32,299 | 13,695 |
| ROE (net income / shareholders' equity) | 16.3% | 7.2% | 5.1% | 9.6% | 7.8% | 8.5% | 8.9% | 10.9% |
| ROA (Net income/ Total Assets) | 9.26% | 6.61% | 3.5% | 5.11% | 4.35% | 5.58% | 5.15% | 6.1% |
| Assets 1 | 215,534 | 140,921 | 197,143 | 272,763 | 275,409 | 255,971 | 322,524 | 345,197 |
| Book Value Per Share 2 | 1,747 | 1,779 | 1,909 | 2,031 | 2,162 | 2,405 | 2,383 | 2,559 |
| Cash Flow per Share 2 | 332.0 | 205.0 | 176.0 | 274.0 | 252.0 | 299.0 | 757.0 | 297.0 |
| Capex 1 | 9,945 | 10,585 | 12,592 | 4,903 | 7,346 | 12,183 | 16,625 | 11,950 |
| Capex / Sales | 4.52% | 4.87% | 6.36% | 2.29% | 3.08% | 4.82% | 5.94% | 3.69% |
| Announcement Date | 5/13/19 | 5/25/20 | 5/10/21 | 5/11/22 | 5/12/23 | 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
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
4,577
JPY
Average target price
4,820
JPY
Spread / Average Target
+5.31%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +86.82% | 2.1B | |
| -14.70% | 12.95B | |
| +6.62% | 5.31B | |
| +23.71% | 4.88B | |
| -10.07% | 4.7B | |
| +10.73% | 4.21B | |
| -24.84% | 4.13B | |
| +11.87% | 3.87B | |
| +40.17% | 3.67B | |
| -0.59% | 3.2B |
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- Financials The Japan Steel Works, Ltd.
