Financials Max Co., Ltd.

Equities

6454

JP3864800002

Industrial Machinery & Equipment

Market Closed - Japan Exchange 02:00:00 2024-06-07 am EDT 5-day change 1st Jan Change
3,760 JPY +3.30% Intraday chart for Max Co., Ltd. +0.53% +14.46%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 79,622 81,430 76,119 80,556 100,281 174,905 - -
Enterprise Value (EV) 1 54,967 81,430 53,391 55,077 69,111 151,418 174,905 174,905
P/E ratio 15.8 x 14.8 x 15.5 x 13.3 x 13.2 x 14.6 x 16.9 x 15.3 x
Yield 2.7% 2.76% 2.93% 3.76% 3.68% 3.1% 2.98% 3.22%
Capitalization / Revenue 1.14 x 1.17 x 1.19 x 1.09 x 1.19 x 1.75 x 1.93 x 1.85 x
EV / Revenue 1.14 x 1.17 x 1.19 x 1.09 x 1.19 x 1.75 x 1.93 x 1.85 x
EV / EBITDA 8,459,598 x - 8,267,502 x 7,814,183 x - - - -
EV / FCF 17,067,896 x 15,549,060 x 22,069,843 x 20,250,480 x 21,304,584 x 16,668,611 x - -
FCF Yield 0% 0% 0% 0% 0% 0% - -
Price to Book 1.08 x 1.07 x 0.99 x 0.97 x 1.13 x 1.52 x 1.67 x 1.58 x
Nbr of stocks (in thousands) 48,908 48,907 46,499 47,303 47,302 46,517 - -
Reference price 2 1,628 1,665 1,637 1,703 2,120 3,760 3,760 3,760
Announcement Date 4/26/19 5/13/20 4/28/21 4/28/22 4/28/23 4/26/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 70,118 69,671 64,029 73,958 84,316 86,638 90,700 94,450
EBITDA 9,412 - 9,207 10,309 - - - -
EBIT 1 7,150 7,586 6,685 7,498 9,926 12,601 13,850 15,250
Operating Margin 10.2% 10.89% 10.44% 10.14% 11.77% 14.54% 15.27% 16.15%
Earnings before Tax (EBT) 1 7,124 7,432 7,032 8,249 10,300 13,699 13,800 15,200
Net income 1 5,064 5,510 5,153 6,090 7,619 10,435 10,350 11,400
Net margin 7.22% 7.91% 8.05% 8.23% 9.04% 12.04% 11.41% 12.07%
EPS 2 102.9 112.7 105.8 128.4 161.1 222.6 222.5 245.1
Free Cash Flow 4,665 5,237 3,449 3,978 4,707 9,084 - -
FCF margin 6.65% 7.52% 5.39% 5.38% 5.58% 10.49% - -
FCF Conversion (EBITDA) 49.56% - 37.46% 38.59% - - - -
FCF Conversion (Net income) 92.12% 95.05% 66.93% 65.32% 61.78% 87.05% - -
Dividend per Share 2 44.00 46.00 48.00 64.00 78.00 101.0 112.0 121.0
Announcement Date 4/26/19 5/13/20 4/28/21 4/28/22 4/28/23 4/26/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2020 S1 2021 S1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 S1 2023 Q3 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 S1 2025 Q3 2025 Q4 2025 S2
Net sales 1 34,885 30,040 18,358 35,521 18,918 19,519 20,336 41,963 21,917 21,200 21,720 42,920 22,412 21,306 43,718 21,800 22,500 44,300 23,450 22,650 46,100
EBITDA - - - - - - - - - - - - - - - - - - - - -
EBIT 1 4,065 3,004 2,019 3,810 1,873 1,815 2,191 4,436 3,159 3,510 3,139 6,649 3,230 2,722 5,952 3,550 3,550 7,100 3,700 3,000 6,700
Operating Margin 11.65% 10% 11% 10.73% 9.9% 9.3% 10.77% 10.57% 14.41% 16.56% 14.45% 15.49% 14.41% 12.78% 13.61% 16.28% 15.78% 16.03% 15.78% 13.25% 14.53%
Earnings before Tax (EBT) 3,971 3,006 1,991 3,797 2,125 - 3,052 5,696 2,482 4,188 - 7,491 2,993 - - - - - - - -
Net income 2,858 2,265 1,510 2,833 1,505 1,752 2,220 4,129 1,742 2,918 - 5,587 2,402 - - - - - - - -
Net margin 8.19% 7.54% 8.23% 7.98% 7.96% 8.98% 10.92% 9.84% 7.95% 13.76% - 13.02% 10.72% - - - - - - - -
EPS 58.44 46.32 - 59.56 31.82 - 46.95 87.29 36.85 61.71 - 118.5 51.43 - - - - - - - -
Dividend per Share - - - - - - - - - - - - - - - - - - - - -
Announcement Date 10/30/19 10/28/20 10/29/21 10/29/21 1/31/22 4/28/22 7/29/22 10/28/22 1/31/23 7/31/23 10/31/23 10/31/23 1/31/24 4/26/24 4/26/24 - - - - - -
1JPY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 24,655 - 22,728 25,479 31,170 - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 4,665 5,237 3,449 3,978 4,707 9,084 - -
ROE (net income / shareholders' equity) 7% 7.4% 6.7% 7.5% 8.9% 11.1% 9.8% 10.2%
ROA (Net income/ Total Assets) 7.47% 7.5% 6.76% 5.76% 9.31% 11.5% - -
Assets 1 67,832 73,498 76,214 105,790 81,839 90,735 - -
Book Value Per Share 2 1,510 1,551 1,648 1,755 1,877 2,144 2,257 2,386
Cash Flow per Share 149.0 163.0 158.0 188.0 225.0 288.0 - -
Capex 1 3,149 3,093 4,987 4,387 3,541 3,036 3,500 3,600
Capex / Sales 4.49% 4.44% 7.79% 5.93% 4.2% 3.5% 3.86% 3.81%
Announcement Date 4/26/19 5/13/20 4/28/21 4/28/22 4/28/23 4/26/24 - -
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

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