MARUICHI STEEL TUBE LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,742 JPY | +0.59% |
|
-0.24% | +1.99% |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 266,862 | 215,099 | 206,824 | 221,837 | 231,703 | 298,155 | - | - |
| Enterprise Value (EV) 1 | 184,902 | 117,417 | 117,842 | 140,817 | 140,742 | 320,457 | 229,155 | 236,055 |
| P/E ratio | 18.7 x | 33.8 x | 15 x | 8.1 x | 9.59 x | 12.3 x | 12.5 x | 12.3 x |
| Yield | 2.29% | 4.06% | 2.87% | 3.3% | 3.76% | 3.26% | 3.33% | 3.43% |
| Capitalization / Revenue | 1.59 x | 1.39 x | 1.28 x | 0.99 x | 0.85 x | 1.18 x | 1.08 x | 1.08 x |
| EV / Revenue | 1.1 x | 0.76 x | 0.73 x | 0.63 x | 0.51 x | 1.18 x | 0.83 x | 0.85 x |
| EV / EBITDA | 7.25 x | 5.55 x | 4.86 x | 3.33 x | 3.87 x | 5.23 x | 5.76 x | 5.8 x |
| EV / FCF | 18.6 x | 5.01 x | 6.91 x | 27.7 x | 6.97 x | 17.2 x | 33.5 x | 19.6 x |
| FCF Yield | 5.37% | 20% | 14.5% | 3.61% | 14.3% | 5.83% | 2.99% | 5.1% |
| Price to Book | 1.01 x | 0.84 x | 0.77 x | 0.74 x | 0.74 x | 0.92 x | 0.88 x | 0.83 x |
| Nbr of stocks (in thousands) | 82,748 | 82,762 | 81,911 | 80,376 | 79,623 | 79,678 | - | - |
| Reference price 2 | 3,225 | 2,599 | 2,525 | 2,760 | 2,910 | 3,742 | 3,742 | 3,742 |
| Announcement Date | 5/13/19 | 5/13/20 | 5/12/21 | 5/12/22 | 5/11/23 | 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 | 167,437 | 154,926 | 161,138 | 224,218 | 273,416 | 271,310 | 276,625 | 276,150 |
| EBITDA 1 | 25,502 | 21,152 | 24,254 | 42,226 | 36,338 | 41,400 | 39,800 | 40,733 |
| EBIT 1 | 19,266 | 14,712 | 18,332 | 36,276 | 30,019 | 34,811 | 32,750 | 32,975 |
| Operating Margin | 11.51% | 9.5% | 11.38% | 16.18% | 10.98% | 12.83% | 11.84% | 11.94% |
| Earnings before Tax (EBT) 1 | 21,217 | 10,061 | 20,509 | 38,241 | 34,260 | 38,358 | 35,550 | 35,750 |
| Net income 1 | 14,253 | 6,354 | 13,857 | 27,760 | 24,164 | 26,113 | 23,850 | 24,175 |
| Net margin | 8.51% | 4.1% | 8.6% | 12.38% | 8.84% | 9.62% | 8.62% | 8.75% |
| EPS 2 | 172.2 | 76.79 | 168.0 | 340.8 | 303.4 | 327.8 | 299.4 | 303.5 |
| Free Cash Flow 1 | 9,921 | 23,455 | 17,057 | 5,086 | 20,186 | 18,671 | 6,850 | 12,050 |
| FCF margin | 5.93% | 15.14% | 10.59% | 2.27% | 7.38% | 6.88% | 2.48% | 4.36% |
| FCF Conversion (EBITDA) | 38.9% | 110.89% | 70.33% | 12.04% | 55.55% | 14.13% | 17.21% | 29.58% |
| FCF Conversion (Net income) | 69.61% | 369.14% | 123.09% | 18.32% | 83.54% | 71.5% | 28.72% | 49.84% |
| Dividend per Share 2 | 74.00 | 105.5 | 72.50 | 91.00 | 109.5 | 131.0 | 124.7 | 128.3 |
| Announcement Date | 5/13/19 | 5/13/20 | 5/12/21 | 5/12/22 | 5/11/23 | 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 | 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 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 78,113 | 76,813 | 77,326 | 83,812 | 53,939 | 99,551 | 61,201 | 63,466 | 124,667 | 65,541 | 72,858 | 138,399 | 69,536 | 65,481 | 135,017 | 67,080 | 68,093 | 135,173 | 68,420 | 67,717 | 136,137 | 69,500 | 68,500 | 138,000 | 67,000 | 67,000 | 134,000 | 128,500 | 129,500 |
| EBITDA | - | - | - | - | 11,016 | - | 12,440 | 9,506 | - | - | - | - | - | - | - | 11,002 | 11,625 | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 6,965 | 7,747 | 7,260 | 11,072 | 9,564 | 17,299 | 10,958 | 8,019 | 18,977 | 8,789 | 9,623 | 18,412 | 5,757 | 5,850 | 11,607 | 9,331 | 9,937 | 19,268 | 8,431 | 7,112 | 15,543 | 8,500 | 8,000 | 16,500 | 8,000 | 7,000 | 15,000 | 14,000 | 15,500 |
| Operating Margin | 8.92% | 10.09% | 9.39% | 13.21% | 17.73% | 17.38% | 17.9% | 12.64% | 15.22% | 13.41% | 13.21% | 13.3% | 8.28% | 8.93% | 8.6% | 13.91% | 14.59% | 14.25% | 12.32% | 10.5% | 11.42% | 12.23% | 11.68% | 11.96% | 11.94% | 10.45% | 11.19% | 10.89% | 11.97% |
| Earnings before Tax (EBT) 1 | 6,832 | - | 8,453 | - | 10,012 | 18,616 | 11,639 | 7,986 | 19,625 | 9,835 | 11,085 | 20,920 | 7,440 | 5,900 | 13,340 | 10,773 | 10,715 | 21,488 | 9,148 | 7,722 | 16,870 | 9,500 | 8,500 | 18,000 | 8,500 | 7,500 | 16,000 | 15,500 | 16,500 |
| Net income 1 | 3,981 | - | 5,433 | 8,424 | 7,364 | 13,453 | 8,322 | 5,985 | - | 6,453 | 7,493 | 13,946 | 5,457 | 4,761 | - | 6,770 | 7,328 | 14,098 | 6,354 | 5,661 | - | 6,900 | 5,900 | - | 5,800 | 5,400 | - | - | - |
| Net margin | 5.1% | - | 7.03% | 10.05% | 13.65% | 13.51% | 13.6% | 9.43% | - | 9.85% | 10.28% | 10.08% | 7.85% | 7.27% | - | 10.09% | 10.76% | 10.43% | 9.29% | 8.36% | - | 9.93% | 8.61% | - | 8.66% | 8.06% | - | - | - |
| EPS | 48.11 | - | 65.65 | - | - | 164.2 | 102.0 | - | - | 80.95 | - | 175.0 | 68.53 | - | - | 85.02 | - | 177.0 | 79.74 | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | 40.00 | - | 25.00 | - | - | 40.00 | - | - | - | - | - | 40.00 | - | - | - | - | - | 55.00 | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/8/19 | 5/13/20 | 11/9/20 | 5/12/21 | 11/8/21 | 11/8/21 | 2/7/22 | 5/12/22 | 5/12/22 | 8/5/22 | 11/8/22 | 11/8/22 | 2/7/23 | 5/11/23 | 5/11/23 | 8/7/23 | 11/8/23 | 11/8/23 | 2/7/24 | 5/10/24 | 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 | 81,960 | 97,682 | 88,982 | 81,020 | 90,961 | 81,600 | 69,000 | 62,100 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 9,921 | 23,455 | 17,057 | 5,086 | 20,186 | 18,671 | 6,850 | 12,050 |
| ROE (net income / shareholders' equity) | 5.5% | 2.4% | 5.3% | 9.8% | 7.9% | 7.9% | 6.9% | 6.88% |
| ROA (Net income/ Total Assets) | 6.79% | 5.42% | 6.43% | 11% | 9.02% | 9.32% | 6.95% | 5.9% |
| Assets 1 | 209,979 | 117,232 | 215,515 | 252,758 | 267,942 | 280,055 | 343,165 | 409,746 |
| Book Value Per Share 2 | 3,189 | 3,109 | 3,287 | 3,720 | 3,937 | 4,355 | 4,274 | 4,512 |
| Cash Flow per Share | 248.0 | 154.0 | 239.0 | 414.0 | 383.0 | 410.0 | - | - |
| Capex 1 | 5,742 | 6,284 | 7,298 | 5,074 | 7,159 | 17,016 | 27,567 | 19,400 |
| Capex / Sales | 3.43% | 4.06% | 4.53% | 2.26% | 2.62% | 6.27% | 9.97% | 7.03% |
| Announcement Date | 5/13/19 | 5/13/20 | 5/12/21 | 5/12/22 | 5/11/23 | 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
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
3,742
JPY
Average target price
4,075
JPY
Spread / Average Target
+8.90%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +1.99% | 1.9B | |
| -2.98% | 40.48B | |
| +19.82% | 25B | |
| -5.90% | 21.47B | |
| +13.35% | 21.04B | |
| -26.13% | 20.25B | |
| +6.25% | 20.13B | |
| +8.71% | 9.62B | |
| -21.17% | 8.62B | |
| -15.33% | 8.22B |
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- Financials Maruichi Steel Tube Ltd.
