Stock 6965 HAMAMATSU PHOTONICS K.K.
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Financials Hamamatsu Photonics K.K.

Equities

6965

JP3771800004

Semiconductors

Market Closed - Japan Exchange
Other stock markets
 02:00:00 2024-05-24 am EDT 		5-day change 1st Jan Change
4,767 JPY -3.79% Intraday chart for Hamamatsu Photonics K.K. -8.43% -17.81%
May. 22 Indica Labs Receives FDA Clearance for HALO AP Dx Digital Pathology Platform for Use with Hamamatsu Images Acquired with the Nanozoomer S360md Slide Scanner CI
May. 09 Hamamatsu Photonics K.K. Announces Dividend for the Second Quarter Ended March 31, 2024, Payable on June 4, 2024; Provides Dividend Guidance for the Full Fiscal Year Ending September 30, 2024 CI

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 620,738 818,962 1,074,504 959,998 975,410 738,262 - -
Enterprise Value (EV) 1 546,643 753,059 984,532 843,210 866,372 626,791 630,578 615,550
P/E ratio 31.2 x 49.6 x 42.9 x 23.2 x 22.8 x 22 x 20 x 18.6 x
Yield 1% 0.76% 0.69% 1.16% 1.21% 1.61% 1.7% 1.73%
Capitalization / Revenue 4.25 x 5.84 x 6.36 x 4.6 x 4.4 x 3.38 x 3.1 x 2.93 x
EV / Revenue 3.75 x 5.37 x 5.82 x 4.04 x 3.91 x 2.87 x 2.65 x 2.45 x
EV / EBITDA 14.6 x 21.9 x 20.6 x 12 x 12.2 x 10.5 x 9.36 x 8.43 x
EV / FCF 42.1 x 106 x 42.6 x 26.5 x 391 x 29.7 x 36.8 x 19.9 x
FCF Yield 2.38% 0.94% 2.35% 3.77% 0.26% 3.36% 2.71% 5.04%
Price to Book 3.06 x 3.85 x 4.54 x 3.42 x 3.06 x 2.19 x 2.05 x 1.93 x
Nbr of stocks (in thousands) 154,798 154,813 154,828 154,838 154,852 154,869 - -
Reference price 2 4,010 5,290 6,940 6,200 6,299 4,767 4,767 4,767
Announcement Date 11/11/19 11/9/20 11/11/21 11/11/22 11/10/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 145,912 140,251 169,026 208,803 221,445 218,305 238,011 251,751
EBITDA 1 37,463 34,443 47,872 70,491 71,200 59,726 67,378 73,005
EBIT 1 25,403 21,752 34,318 56,983 56,676 43,951 50,888 54,691
Operating Margin 17.41% 15.51% 20.3% 27.29% 25.59% 20.13% 21.38% 21.72%
Earnings before Tax (EBT) 1 26,220 22,259 34,755 58,668 58,520 45,209 49,930 54,355
Net income 1 19,918 16,523 25,053 41,295 42,825 33,583 37,263 40,076
Net margin 13.65% 11.78% 14.82% 19.78% 19.34% 15.38% 15.66% 15.92%
EPS 2 128.7 106.7 161.8 266.7 276.6 216.9 238.6 256.4
Free Cash Flow 1 12,984 7,106 23,135 31,795 2,213 21,082 17,116 30,998
FCF margin 8.9% 5.07% 13.69% 15.23% 1% 9.66% 7.19% 12.31%
FCF Conversion (EBITDA) 34.66% 20.63% 48.33% 45.11% 3.11% 35.3% 25.4% 42.46%
FCF Conversion (Net income) 65.19% 43.01% 92.34% 76.99% 5.17% 62.78% 45.93% 77.35%
Dividend per Share 2 40.00 40.00 48.00 72.00 76.00 76.57 80.86 82.33
Announcement Date 11/11/19 11/9/20 11/11/21 11/11/22 11/10/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2020 S1 2021 S1 2021 S2 2022 Q1 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
Net sales 1 72,975 79,342 89,684 47,028 53,488 100,516 51,247 57,040 - 55,163 56,455 111,618 52,870 56,957 109,827 53,512 50,474 103,986 53,935 57,439 120,714 59,392 59,143 60,342
EBITDA - - - 14,369 20,164 - 16,861 19,147 - - - - 15,239 - - - - - - - - - - -
EBIT 1 12,228 14,392 19,926 11,185 16,912 28,097 13,297 15,589 - 15,507 16,013 31,520 11,436 13,720 25,156 11,480 8,584 20,064 11,112 10,024 27,436 9,824 9,798 10,612
Operating Margin 16.76% 18.14% 22.22% 23.78% 31.62% 27.95% 25.95% 27.33% - 28.11% 28.36% 28.24% 21.63% 24.09% 22.91% 21.45% 17.01% 19.29% 20.6% 17.45% 22.73% 16.54% 16.57% 17.59%
Earnings before Tax (EBT) 1 12,155 14,496 - 11,519 17,083 28,602 13,912 16,154 - 15,485 16,518 32,003 12,235 14,282 - 11,821 10,056 21,877 9,800 10,500 - 10,600 11,500 12,300
Net income 1 9,003 10,784 14,269 8,596 12,745 21,341 10,331 9,623 - 11,320 12,429 23,749 8,722 10,354 19,076 8,945 7,826 16,771 8,006 6,669 17,959 6,898 6,923 7,436
Net margin 12.34% 13.59% 15.91% 18.28% 23.83% 21.23% 20.16% 16.87% - 20.52% 22.02% 21.28% 16.5% 18.18% 17.37% 16.72% 15.51% 16.13% 14.84% 11.61% 14.88% 11.62% 11.71% 12.32%
EPS 2 58.16 69.66 92.16 55.52 82.31 137.8 66.73 62.14 - 73.11 80.26 153.4 56.33 66.86 123.2 57.77 50.53 108.3 58.10 - 116.0 - - -
Dividend per Share 20.00 20.00 - - 32.00 32.00 - 40.00 40.00 - 38.00 38.00 - 38.00 - - - 38.00 - - - - - -
Announcement Date 5/13/20 5/12/21 11/11/21 2/9/22 5/12/22 5/12/22 8/10/22 11/11/22 11/11/22 2/9/23 5/11/23 5/11/23 8/9/23 11/10/23 11/10/23 2/8/24 5/9/24 5/9/24 - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 74,095 65,903 89,972 116,788 109,038 111,471 107,684 122,712
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 12,984 7,106 23,135 31,795 2,213 21,083 17,116 30,998
ROE (net income / shareholders' equity) 10.1% 8% 11.2% 16% 14.3% 10.2% 10.6% 10.4%
ROA (Net income/ Total Assets) 10.4% 8.54% 12.1% 17.6% 15.5% 10% 9.63% 9.9%
Assets 1 191,380 193,434 207,265 234,201 277,174 335,830 386,816 404,803
Book Value Per Share 2 1,311 1,374 1,528 1,812 2,058 2,179 2,320 2,476
Cash Flow per Share 207.0 189.0 249.0 354.0 370.0 - - -
Capex 1 17,891 20,850 13,865 21,315 32,040 39,384 32,740 24,660
Capex / Sales 12.26% 14.87% 8.2% 10.21% 14.47% 18.04% 13.76% 9.8%
Announcement Date 11/11/19 11/9/20 11/11/21 11/11/22 11/10/23 - - -
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 Hamamatsu Photonics K.K.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
4,767 JPY
Average target price
6,733 JPY
Spread / Average Target
+41.25%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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