Financials F.C.C. Co., Ltd.

Equities

7296

JP3166900005

Auto, Truck & Motorcycle Parts

Delayed Japan Exchange Other stock markets 08:49:10 2024-06-10 pm EDT			5-day change	1st Jan Change
2,298 ^JPY	+0.39%		+1.59%	+32.13%

Jun. 04	FCC Buys Back 767 Million Yen of Shares Under New 1 Billion Yen Program	MT
May. 21	AWL, Inc. announced that it has received funding from Bornrex & Co Ltd, F.C.C. Co., Ltd., Hokkaido Research Institute for the Twenty-first Century Co.,Ltd., Investment Arm, Hokkaido Venture Capital, Inc., Tanioka Ryokka K.K., DG Ventures, Inc.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	116,320	78,457	92,320	66,750	77,078	113,062	-	-
Enterprise Value (EV) ¹	96,686	50,314	55,428	28,223	30,849	114,216	54,394	48,440
P/E ratio	9.96 x	20 x	20.7 x	7.8 x	8.06 x	9.34 x	8.43 x	8.5 x
Yield	2.22%	3.67%	2.15%	3.87%	3.61%	3.22%	3.48%	3.54%
Capitalization / Revenue	0.65 x	0.46 x	0.63 x	0.39 x	0.35 x	0.48 x	0.46 x	0.45 x
EV / Revenue	0.54 x	0.29 x	0.38 x	0.17 x	0.14 x	0.48 x	0.22 x	0.19 x
EV / EBITDA	3.41 x	2.32 x	2.7 x	1.23 x	1.24 x	4.08 x	1.82 x	1.56 x
EV / FCF	7.25 x	3.47 x	12.5 x	4.84 x	2.88 x	4.39 x	5.87 x	5.53 x
FCF Yield	13.8%	28.8%	8.03%	20.7%	34.7%	22.8%	17%	18.1%
Price to Book	0.92 x	0.65 x	0.71 x	0.46 x	0.48 x	0.62 x	0.6 x	0.59 x
Nbr of stocks (in thousands)	49,688	49,688	49,688	49,702	49,728	49,394	-	-
Reference price ²	2,341	1,579	1,858	1,343	1,550	2,289	2,289	2,289
Announcement Date	4/26/19	5/22/20	4/28/21	5/11/22	5/12/23	5/10/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	177,605	171,060	146,157	170,971	218,939	240,283	244,767	252,500
EBITDA ¹	28,392	21,734	20,533	22,854	24,954	27,963	29,825	31,050
EBIT ¹	15,843	7,896	6,966	10,051	11,903	15,102	16,983	17,750
Operating Margin	8.92%	4.62%	4.77%	5.88%	5.44%	6.29%	6.94%	7.03%
Earnings before Tax (EBT) ¹	16,503	6,653	8,313	11,944	13,641	19,169	18,525	19,375
Net income ¹	11,779	3,921	4,462	8,551	9,566	12,231	13,367	13,183
Net margin	6.63%	2.29%	3.05%	5%	4.37%	5.09%	5.46%	5.22%
EPS ²	235.0	78.92	89.81	172.1	192.4	245.9	271.7	269.2
Free Cash Flow ¹	13,345	14,482	4,449	5,829	10,707	12,856	9,264	8,764
FCF margin	7.51%	8.47%	3.04%	3.41%	4.89%	5.39%	3.78%	3.47%
FCF Conversion (EBITDA)	47%	66.63%	21.67%	25.51%	42.91%	44.95%	31.06%	28.23%
FCF Conversion (Net income)	113.29%	369.34%	99.71%	68.17%	111.93%	104.24%	69.3%	66.48%
Dividend per Share ²	52.00	58.00	40.00	52.00	56.00	74.00	79.67	80.93
Announcement Date	4/26/19	5/22/20	4/28/21	5/11/22	5/12/23	5/10/24	-	-

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	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	88,598	82,462	59,324	86,833	40,945	79,370	43,639	47,962	48,441	58,707	107,148	55,207	56,584	56,440	60,520	116,960	60,548	62,775	62,000	61,100	62,600	63,500
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	7,598	298	-277	7,243	2,711	5,563	2,377	2,111	1,794	2,442	4,236	2,643	5,024	3,008	3,445	6,453	5,491	3,158	4,300	4,400	4,500	4,600
Operating Margin	8.58%	0.36%	-0.47%	8.34%	6.62%	7.01%	5.45%	4.4%	3.7%	4.16%	3.95%	4.79%	8.88%	5.33%	5.69%	5.52%	9.07%	5.03%	6.94%	7.2%	7.19%	7.24%
Earnings before Tax (EBT) ¹	6,793	-140	-248	-	2,627	5,964	2,853	3,127	2,802	2,921	5,723	2,627	5,291	4,504	4,476	8,980	5,756	4,433	5,000	4,000	5,200	5,200
Net income ¹	5,082	-1,161	-35	4,497	1,806	4,144	1,706	2,701	1,518	1,856	3,374	2,164	4,028	2,900	3,077	5,977	4,457	1,797	3,500	2,800	3,600	3,600
Net margin	5.74%	-1.41%	-0.06%	5.18%	4.41%	5.22%	3.91%	5.63%	3.13%	3.16%	3.15%	3.92%	7.12%	5.14%	5.08%	5.11%	7.36%	2.86%	5.65%	4.58%	5.75%	5.67%
EPS	102.3	-	-0.7100	-	-	83.41	34.32	-	30.56	37.31	67.87	43.54	-	58.33	61.85	120.2	89.60	-	-	-	-	-
Dividend per Share	29.00	-	20.00	-	-	26.00	-	-	-	-	26.00	-	-	-	-	30.00	-	-	-	-	-	-
Announcement Date	11/5/19	5/22/20	10/30/20	4/28/21	11/4/21	11/4/21	2/3/22	5/11/22	8/4/22	11/4/22	11/4/22	2/3/23	5/12/23	8/4/23	11/2/23	11/2/23	2/2/24	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	19,634	28,143	36,892	38,527	46,229	56,663	58,668	64,622
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	13,345	14,482	4,449	5,829	10,707	12,856	9,264	8,764
ROE (net income / shareholders' equity)	9.7%	3.2%	3.6%	6.2%	6.2%	7.1%	7.03%	6.96%
ROA (Net income/ Total Assets)	9.6%	3.97%	4.93%	6.44%	6.72%	8.41%	7.25%	7.3%
Assets ¹	122,746	98,827	90,542	132,807	142,354	145,360	184,368	180,594
Book Value Per Share ²	2,533	2,433	2,621	2,950	3,219	3,725	3,829	3,865
Cash Flow per Share ²	485.0	357.0	363.0	430.0	461.0	504.0	523.0	558.0
Capex ¹	10,277	8,584	5,488	9,859	8,319	10,025	15,250	16,375
Capex / Sales	5.79%	5.02%	3.75%	5.77%	3.8%	4.2%	6.23%	6.49%
Announcement Date	4/26/19	5/22/20	4/28/21	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

Ratings for F.C.C. Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

2,289 JPY

Average target price

2,113 JPY

Spread / Average Target

-7.67%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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