WORKMAN CO.,LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,935 JPY | +0.64% |
|
+2.34% | -5.41% |
| Mar. 12 | Morgan Stanley Downgrades Workman to Underweight From Equalweight, Adjusts Price Target to 4,000 Yen From 4,400 Yen | MT |
| 2023 | Workman Co.,Ltd.(TSE:7564) added to FTSE All-World Index | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 465,192 | 484,779 | 647,188 | 408,879 | 457,030 | 319,105 | - | - |
| Enterprise Value (EV) 1 | 423,454 | 457,422 | 591,702 | 346,656 | 396,449 | 328,899 | 241,629 | 228,196 |
| P/E ratio | 47.4 x | 36.3 x | 38 x | 22.3 x | 27.4 x | 20.6 x | 19 x | 17.9 x |
| Yield | 0.64% | 0.84% | 0.81% | 1.36% | 1.21% | 1.69% | 1.76% | 1.84% |
| Capitalization / Revenue | 6.95 x | 5.25 x | 6.12 x | 3.52 x | 3.56 x | 2.48 x | 2.27 x | 2.15 x |
| EV / Revenue | 6.32 x | 4.96 x | 5.59 x | 2.98 x | 3.09 x | 2.48 x | 1.72 x | 1.54 x |
| EV / EBITDA | - | 22.3 x | 23.1 x | 12 x | 15 x | 9.41 x | 8.99 x | 7.85 x |
| EV / FCF | 50.9 x | 104 x | 35.3 x | 27.7 x | 43.8 x | 17.1 x | 21.2 x | 15.5 x |
| FCF Yield | 1.96% | 0.96% | 2.84% | 3.61% | 2.28% | 5.84% | 4.72% | 6.43% |
| Price to Book | 6.95 x | 6.25 x | 7.14 x | 3.95 x | 4 x | 2.62 x | 2.34 x | 2.1 x |
| Nbr of stocks (in thousands) | 81,613 | 81,613 | 81,613 | 81,613 | 81,613 | 81,613 | - | - |
| Reference price 2 | 5,700 | 5,940 | 7,930 | 5,010 | 5,600 | 3,910 | 3,910 | 3,910 |
| Announcement Date | 5/8/19 | 5/7/20 | 5/10/21 | 5/9/22 | 5/8/23 | 5/7/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 66,969 | 92,307 | 105,815 | 116,264 | 128,289 | 132,651 | 140,615 | 148,128 |
| EBITDA 1 | - | 20,484 | 25,606 | 28,815 | 26,410 | 26,223 | 26,880 | 29,066 |
| EBIT 1 | 13,526 | 19,170 | 23,955 | 26,802 | 24,106 | 23,142 | 24,460 | 26,025 |
| Operating Margin | 20.2% | 20.77% | 22.64% | 23.05% | 18.79% | 17.45% | 17.4% | 17.57% |
| Earnings before Tax (EBT) 1 | 14,728 | 20,095 | 25,356 | 27,313 | 24,655 | 23,636 | 25,050 | 26,650 |
| Net income 1 | 9,809 | 13,369 | 17,039 | 18,303 | 16,656 | 15,986 | 16,767 | 17,791 |
| Net margin | 14.65% | 14.48% | 16.1% | 15.74% | 12.98% | 12.05% | 11.92% | 12.01% |
| EPS 2 | 120.2 | 163.8 | 208.8 | 224.3 | 204.1 | 195.9 | 205.3 | 217.8 |
| Free Cash Flow 1 | 8,314 | 4,397 | 16,779 | 12,502 | 9,043 | 14,400 | 11,400 | 14,680 |
| FCF margin | 12.41% | 4.76% | 15.86% | 10.75% | 7.05% | 10.69% | 8.11% | 9.91% |
| FCF Conversion (EBITDA) | - | 21.47% | 65.53% | 43.39% | 34.24% | 54.91% | 42.41% | 50.51% |
| FCF Conversion (Net income) | 84.76% | 32.89% | 98.47% | 68.31% | 54.29% | 89.26% | 67.99% | 82.51% |
| Dividend per Share 2 | 36.50 | 50.00 | 64.00 | 68.00 | 68.00 | 68.00 | 68.88 | 72.00 |
| Announcement Date | 5/8/19 | 5/7/20 | 5/10/21 | 5/9/22 | 5/8/23 | 5/7/24 | - | - |
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 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 41,886 | - | 48,713 | 57,102 | 25,761 | 55,295 | 36,483 | 24,486 | 60,969 | 33,327 | 26,881 | 60,208 | 40,636 | 27,445 | 68,081 | 35,305 | 30,275 | 65,580 | 40,582 | 26,489 | 67,071 | 36,275 | 30,442 | 43,508 | 29,015 |
| EBITDA | - | - | - | - | 5,876 | - | 10,399 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 8,642 | 10,528 | 11,073 | 12,882 | 5,456 | 12,604 | 9,981 | 4,217 | 14,198 | 7,459 | 4,700 | 12,159 | 8,608 | 3,339 | 11,947 | 7,111 | 4,880 | 11,991 | 8,687 | 2,464 | - | 6,733 | 4,433 | 9,133 | 3,533 |
| Operating Margin | 20.63% | - | 22.73% | 22.56% | 21.18% | 22.79% | 27.36% | 17.22% | 23.29% | 22.38% | 17.48% | 20.19% | 21.18% | 12.17% | 17.55% | 20.14% | 16.12% | 18.28% | 21.41% | 9.3% | - | 18.56% | 14.56% | 20.99% | 12.18% |
| Earnings before Tax (EBT) | 9,326 | 10,769 | 11,763 | - | - | 12,805 | 10,163 | - | - | 7,605 | - | 12,429 | 8,765 | - | - | 7,255 | - | 12,245 | 8,814 | - | - | - | - | - | - |
| Net income 1 | 5,802 | 7,567 | 7,372 | 9,667 | 3,371 | 7,999 | 6,314 | 3,990 | - | 4,766 | 2,982 | 7,748 | 5,460 | 3,448 | - | 4,565 | 3,040 | 7,605 | 5,481 | 2,900 | - | 4,317 | 2,923 | 11,172 | -1,795 |
| Net margin | 13.85% | - | 15.13% | 16.93% | 13.09% | 14.47% | 17.31% | 16.3% | - | 14.3% | 11.09% | 12.87% | 13.44% | 12.56% | - | 12.93% | 10.04% | 11.6% | 13.51% | 10.95% | - | 11.9% | 9.6% | 25.68% | -6.19% |
| EPS 2 | 71.10 | - | 90.33 | - | 41.30 | 98.02 | 77.37 | 48.89 | - | 58.40 | 36.55 | 94.95 | 66.90 | 42.25 | - | 55.94 | 37.25 | 93.19 | 67.16 | 35.53 | - | 53.23 | 33.65 | 166.5 | -53.08 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 68.00 | - | - | - | - | 70.00 |
| Announcement Date | 11/5/19 | 5/7/20 | 11/9/20 | 5/10/21 | 11/8/21 | 11/8/21 | 2/7/22 | 5/9/22 | 5/9/22 | 8/8/22 | 11/7/22 | 11/7/22 | 2/6/23 | 5/8/23 | 5/8/23 | 8/7/23 | 11/6/23 | 11/6/23 | 2/5/24 | 5/7/24 | 5/7/24 | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 41,738 | 27,357 | 55,486 | 62,223 | 60,581 | 72,366 | 77,477 | 90,909 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 8,314 | 4,397 | 16,779 | 12,502 | 9,043 | 14,400 | 11,400 | 14,680 |
| ROE (net income / shareholders' equity) | 15.5% | 18.5% | 20.3% | 18.9% | 15.3% | 13.3% | 12.9% | 12.6% |
| ROA (Net income/ Total Assets) | 18.9% | 22.9% | 24.2% | 23% | 18.9% | 16.7% | 16% | 16.5% |
| Assets 1 | 51,996 | 58,450 | 70,545 | 79,513 | 88,092 | 95,955 | 104,793 | 108,041 |
| Book Value Per Share 2 | 820.0 | 950.0 | 1,110 | 1,269 | 1,400 | 1,537 | 1,671 | 1,862 |
| Cash Flow per Share | 134.0 | 180.0 | 229.0 | 249.0 | 233.0 | 230.0 | - | - |
| Capex 1 | 1,343 | 2,293 | 4,164 | 5,949 | 5,277 | 4,302 | 4,300 | 4,725 |
| Capex / Sales | 2.01% | 2.48% | 3.94% | 5.12% | 4.11% | 3.19% | 3.06% | 3.19% |
| Announcement Date | 5/8/19 | 5/7/20 | 5/10/21 | 5/9/22 | 5/8/23 | 5/7/24 | - | - |
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
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -5.41% | 2.04B | |
| +10.14% | 147B | |
| +18.46% | 81.28B | |
| -4.96% | 44.1B | |
| -16.60% | 44.72B | |
| +4.89% | 27.9B | |
| +15.40% | 14.35B | |
| -1.94% | 12.18B | |
| +15.35% | 9.76B | |
| +7.78% | 8.27B |
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