Financials artience Co., Ltd.

Equities

4634

JP3606600009

Specialty Chemicals

Delayed Japan Exchange Other stock markets 10:30:00 2024-06-06 pm EDT			5-day change	1st Jan Change
3,390 ^JPY	+1.35%		+0.74%	+28.95%

Feb. 14	Artience Co., Ltd. Provides Earnings Guidance for the Year Ending December 31, 2024	CI
Feb. 14	Artience Co., Ltd. Announces Year-End Dividend for the Fiscal Year Ended December 31, 2023, Payable on March 27, 2024; Provides Dividend Guidance for the Second Quarter-End and Year-End of Fiscal Year Ending December 31, 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	155,731	115,252	107,496	95,370	139,384	160,637	-	-
Enterprise Value (EV) ¹	156,786	118,597	122,113	123,696	168,170	209,400	215,942	208,511
P/E ratio	18.3 x	19.1 x	11.4 x	10.5 x	14.3 x	13.9 x	11.3 x	9.74 x
Yield	3.37%	4.56%	4.68%	5%	3.42%	2.84%	3.14%	3.74%
Capitalization / Revenue	0.56 x	0.45 x	0.37 x	0.3 x	0.43 x	0.47 x	0.43 x	0.41 x
EV / Revenue	0.56 x	0.46 x	0.42 x	0.39 x	0.52 x	0.61 x	0.58 x	0.53 x
EV / EBITDA	-	-	-	-	6.81 x	6.88 x	6.05 x	5.23 x
EV / FCF	20.6 x	41.5 x	-	-9.57 x	41.8 x	-22.3 x	43.1 x	14.1 x
FCF Yield	4.85%	2.41%	-	-10.5%	2.39%	-4.48%	2.32%	7.11%
Price to Book	0.71 x	0.55 x	0.49 x	0.44 x	0.57 x	0.68 x	0.65 x	0.62 x
Nbr of stocks (in thousands)	58,392	58,414	55,842	52,983	53,018	48,023	-	-
Reference price ²	2,667	1,973	1,925	1,800	2,629	3,345	3,345	3,345
Announcement Date	3/26/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	279,892	257,675	287,989	315,927	322,122	342,700	369,500	389,900
EBITDA ¹	-	-	-	-	24,711	30,450	35,700	39,850
EBIT ¹	13,174	12,909	13,005	6,865	13,372	17,950	21,750	25,050
Operating Margin	4.71%	5.01%	4.52%	2.17%	4.15%	5.24%	5.89%	6.42%
Earnings before Tax (EBT) ¹	12,306	9,999	13,130	12,360	12,815	17,000	20,700	23,600
Net income ¹	8,509	6,019	9,492	9,308	9,737	12,750	15,450	17,650
Net margin	3.04%	2.34%	3.3%	2.95%	3.02%	3.72%	4.18%	4.53%
EPS ²	145.7	103.1	169.4	171.5	183.7	241.4	296.0	343.5
Free Cash Flow ¹	7,609	2,858	-	-12,928	4,021	-9,384	5,012	14,822
FCF margin	2.72%	1.11%	-	-4.09%	1.25%	-2.74%	1.36%	3.8%
FCF Conversion (EBITDA)	-	-	-	-	16.27%	-	14.04%	37.19%
FCF Conversion (Net income)	89.42%	47.48%	-	-	41.3%	-	32.44%	83.98%
Dividend per Share ²	90.00	90.00	90.00	90.00	90.00	95.00	105.0	125.0
Announcement Date	3/26/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2022 Q1	2022 S1	2022 Q3	2023 Q1	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	123,290	139,356	74,245	154,758	80,248	74,826	153,676	84,559	83,887	81,727	84,786	88,850	87,300	87,400	89,300
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	5,549	7,230	2,817	4,615	694	1,909	4,752	4,379	4,241	4,354	4,223	4,550	4,800	5,200	5,600
Operating Margin	4.5%	5.19%	3.79%	2.98%	0.86%	2.55%	3.09%	5.18%	5.06%	5.33%	4.98%	5.12%	5.5%	5.95%	6.27%
Earnings before Tax (EBT) ¹	4,453	8,484	3,981	11,967	203	977	5,368	5,075	-	4,762	4,119	4,500	4,700	5,100	5,400
Net income ¹	2,646	6,319	3,161	8,410	348	487	3,842	3,377	2,518	4,095	2,905	3,200	3,400	3,800	4,000
Net margin	2.15%	4.53%	4.26%	5.43%	0.43%	0.65%	2.5%	3.99%	3%	5.01%	3.43%	3.6%	3.89%	4.35%	4.48%
EPS	45.31	112.3	56.62	151.6	8.490	9.200	72.50	63.70	-	77.23	-	-	-	-	-
Dividend per Share	45.00	45.00	-	45.00	-	-	45.00	-	-	-	-	-	-	-	-
Announcement Date	8/7/20	8/6/21	5/13/22	8/5/22	11/11/22	5/12/23	8/7/23	11/10/23	2/14/24	5/10/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,055	3,345	14,617	28,326	28,786	48,763	55,305	47,874
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	1.165 x	1.601 x	1.549 x	1.201 x
Free Cash Flow ¹	7,609	2,858	-	-12,928	4,021	-9,384	5,013	14,822
ROE (net income / shareholders' equity)	3.9%	2.8%	4.4%	4.3%	4.2%	5.1%	5.95%	6.6%
ROA (Net income/ Total Assets)	3.69%	3.32%	3.92%	1.93%	3%	4%	4.9%	5.6%
Assets ¹	230,335	181,476	241,917	481,574	324,684	318,750	315,306	315,179
Book Value Per Share ²	3,757	3,589	3,912	4,134	4,635	4,944	5,163	5,424
Cash Flow per Share ²	301.0	260.0	343.0	369.0	398.0	495.0	583.0	667.0
Capex ¹	12,064	13,885	19,680	17,190	18,967	30,300	17,500	12,500
Capex / Sales	4.31%	5.39%	6.83%	5.44%	5.89%	8.84%	4.74%	3.21%
Announcement Date	3/26/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

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

Ratings for artience Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,345 JPY

Average target price

4,350 JPY

Spread / Average Target

+30.04%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Coloring Agent

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Coloring Agent