WARABEYA NICHIYO HOLDINGS CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,330 JPY | -1.19% |
|
+0.39% | -31.97% |
| Apr. 16 | Warabeya Nichiyo's Attributable Profit Soars 52% in Fiscal 2024 | MT |
| Jan. 12 | Warabeya Nichiyo Holdings Co., Ltd. Provides Dividend Guidance for the Fiscal Year Ending February 29, 2024 | CI |
Valuation
| Fiscal Period: February | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 28,506 | 27,402 | 32,030 | 32,449 | 47,712 | 40,692 | - | - |
| Enterprise Value (EV) 1 | 31,720 | 29,668 | 31,672 | 36,412 | 61,255 | 72,871 | 73,735 | 67,099 |
| P/E ratio | 28.2 x | 40.2 x | 9.81 x | 11.5 x | 11.2 x | 11.8 x | 9.37 x | 7.1 x |
| Yield | 2.46% | 2.55% | 2.73% | 3.5% | 3.29% | 3.82% | 4.66% | 5.51% |
| Capitalization / Revenue | 0.13 x | 0.14 x | 0.17 x | 0.17 x | 0.23 x | 0.18 x | 0.17 x | 0.16 x |
| EV / Revenue | 0.15 x | 0.15 x | 0.16 x | 0.19 x | 0.3 x | 0.31 x | 0.3 x | 0.26 x |
| EV / EBITDA | 3.72 x | 3.64 x | 3.29 x | 3.78 x | 5.4 x | 6.1 x | 5.07 x | 3.97 x |
| EV / FCF | 4.48 x | 10.9 x | 7.64 x | -337 x | -11.5 x | -4.4 x | 63.9 x | 7.84 x |
| FCF Yield | 22.3% | 9.15% | 13.1% | -0.3% | -8.68% | -22.7% | 1.57% | 12.8% |
| Price to Book | 0.64 x | 0.62 x | 0.67 x | 0.64 x | 0.9 x | 0.75 x | 0.71 x | 0.67 x |
| Nbr of stocks (in thousands) | 17,553 | 17,453 | 17,464 | 17,464 | 17,464 | 17,464 | - | - |
| Reference price 2 | 1,624 | 1,570 | 1,834 | 1,858 | 2,732 | 2,358 | 2,358 | 2,358 |
| Announcement Date | 4/10/20 | 4/9/21 | 4/14/22 | 4/11/23 | 4/11/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: February | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 213,581 | 194,309 | 192,326 | 194,416 | 207,009 | 232,146 | 242,710 | 257,567 |
| EBITDA 1 | 8,523 | 8,144 | 9,619 | 9,639 | 11,350 | 11,946 | 14,544 | 16,909 |
| EBIT 1 | 2,721 | 3,332 | 4,441 | 4,985 | 6,380 | 5,460 | 6,826 | 8,745 |
| Operating Margin | 1.27% | 1.71% | 2.31% | 2.56% | 3.08% | 2.35% | 2.81% | 3.4% |
| Earnings before Tax (EBT) 1 | 1,891 | 2,001 | 4,731 | 4,190 | 5,885 | 4,960 | 5,951 | 8,245 |
| Net income 1 | 1,010 | 682 | 3,264 | 2,810 | 4,273 | 3,496 | 4,394 | 5,796 |
| Net margin | 0.47% | 0.35% | 1.7% | 1.45% | 2.06% | 1.51% | 1.81% | 2.25% |
| EPS 2 | 57.55 | 39.04 | 187.0 | 160.9 | 244.7 | 200.2 | 251.6 | 331.9 |
| Free Cash Flow 1 | 7,074 | 2,715 | 4,143 | -108 | -5,319 | -16,578 | 1,154 | 8,557 |
| FCF margin | 3.31% | 1.4% | 2.15% | -0.06% | -2.57% | -7.14% | 0.48% | 3.32% |
| FCF Conversion (EBITDA) | 83% | 33.34% | 43.07% | - | - | - | 7.93% | 50.61% |
| FCF Conversion (Net income) | 700.4% | 398.09% | 126.93% | - | - | - | 26.26% | 147.64% |
| Dividend per Share 2 | 40.00 | 40.00 | 50.00 | 65.00 | 90.00 | 90.00 | 110.0 | 130.0 |
| Announcement Date | 4/10/20 | 4/9/21 | 4/14/22 | 4/11/23 | 4/11/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: February | 2021 S1 | 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 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 96,591 | 95,980 | 48,723 | 47,623 | 47,414 | 50,444 | 97,858 | 49,313 | 47,245 | 49,786 | 53,225 | 103,011 | 50,173 | 53,825 | 57,590 | 61,472 | 58,098 | 56,933 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 1,205 | 3,192 | 1,100 | 149 | 1,694 | 1,682 | 3,376 | 1,283 | 326 | 2,369 | 2,122 | 4,491 | 973 | 916 | 2,173 | 2,024 | 1,070 | 192 |
| Operating Margin | 1.25% | 3.33% | 2.26% | 0.31% | 3.57% | 3.33% | 3.45% | 2.6% | 0.69% | 4.76% | 3.99% | 4.36% | 1.94% | 1.7% | 3.77% | 3.29% | 1.84% | 0.34% |
| Earnings before Tax (EBT) 1 | 440 | 3,645 | 1,114 | -28 | 2,014 | 882 | 2,896 | 1,172 | 122 | 2,303 | 1,871 | 4,174 | 877 | 834 | 2,023 | 1,874 | 970 | 92 |
| Net income 1 | -247 | 2,435 | 793 | 36 | 1,271 | 335 | 1,606 | 759 | 445 | 1,494 | 1,264 | 2,758 | 709 | 806 | 1,423 | 1,274 | 670 | 128 |
| Net margin | -0.26% | 2.54% | 1.63% | 0.08% | 2.68% | 0.66% | 1.64% | 1.54% | 0.94% | 3% | 2.37% | 2.68% | 1.41% | 1.5% | 2.47% | 2.07% | 1.15% | 0.22% |
| EPS | -14.14 | 139.5 | 45.45 | - | 72.82 | - | 91.99 | 43.45 | - | 85.60 | - | 158.0 | 40.60 | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | 45.00 | - | - | - | - | - | - |
| Announcement Date | 10/6/20 | 10/7/21 | 1/11/22 | 4/14/22 | 7/6/22 | 10/7/22 | 10/7/22 | 1/10/23 | 4/11/23 | 7/6/23 | 10/6/23 | 10/6/23 | 1/11/24 | 4/11/24 | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: February | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,214 | 2,266 | - | 3,963 | 13,543 | 32,179 | 33,043 | 26,407 |
| Net Cash position 1 | - | - | 358 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.3771 x | 0.2782 x | - | 0.4111 x | 1.193 x | 2.694 x | 2.272 x | 1.562 x |
| Free Cash Flow 1 | 7,074 | 2,715 | 4,143 | -108 | -5,319 | -16,578 | 1,154 | 8,557 |
| ROE (net income / shareholders' equity) | 2.3% | 1.5% | 7.1% | 5.7% | 8.2% | 6.4% | 7.7% | 9.7% |
| ROA (Net income/ Total Assets) | 3.25% | 4.41% | 6.12% | 5.29% | 7.01% | 5.1% | 4.45% | 7.2% |
| Assets 1 | 31,089 | 15,474 | 53,306 | 53,088 | 60,940 | 68,549 | 98,753 | 80,500 |
| Book Value Per Share 2 | 2,526 | 2,530 | 2,724 | 2,891 | 3,052 | 3,161 | 3,336 | 3,533 |
| Cash Flow per Share | 388.0 | 314.0 | 484.0 | 427.0 | 529.0 | - | - | - |
| Capex 1 | 4,305 | 5,234 | 4,918 | 9,591 | 14,691 | 28,000 | 11,500 | 5,000 |
| Capex / Sales | 2.02% | 2.69% | 2.56% | 4.93% | 7.1% | 12.06% | 4.74% | 1.94% |
| Announcement Date | 4/10/20 | 4/9/21 | 4/14/22 | 4/11/23 | 4/11/24 | - | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
2,330
JPY
Average target price
2,875
JPY
Spread / Average Target
+23.39%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -31.97% | 262M | |
| -19.24% | 7.66B | |
| -3.55% | 7B | |
| -0.74% | 6.88B | |
| +14.99% | 1.92B | |
| -10.24% | 913M | |
| -20.80% | 645M | |
| -12.53% | 572M | |
| +20.64% | 554M | |
| -26.54% | 550M |
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- Financials Warabeya Nichiyo Holdings Co., Ltd.
