TRUST HOLDINGS INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 757 JPY | +1.47% |
|
+43.64% | +45.58% |
| 2023 | TRUST Holdings Inc. Reports Earnings Results for the Nine Months Ended March 31, 2023 | CI |
| 2023 | Japanese Financial Stocks Fall Sharply Amid Concerns About Financial Sector | DJ |
Valuation
| Fiscal Period: June | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,084 | 1,669 | 1,652 | 1,754 | 1,148 | 1,306 |
| Enterprise Value (EV) 1 | 8,822 | 7,080 | 7,052 | 5,747 | 5,408 | 4,999 |
| P/E ratio | 18.6 x | 8.48 x | 29 x | 24 x | 9.14 x | 5.43 x |
| Yield | 3.77% | 4.7% | 4.75% | 4.48% | 3.21% | 4.3% |
| Capitalization / Revenue | 0.14 x | 0.12 x | 0.12 x | 0.14 x | 0.09 x | 0.1 x |
| EV / Revenue | 0.59 x | 0.51 x | 0.52 x | 0.47 x | 0.43 x | 0.37 x |
| EV / EBITDA | 6.9 x | 6.02 x | 9.09 x | 12.2 x | 6.56 x | 5.33 x |
| EV / FCF | 3.49 x | 4.98 x | -8.08 x | 9.3 x | -29.1 x | 7.2 x |
| FCF Yield | 28.7% | 20.1% | -12.4% | 10.7% | -3.44% | 13.9% |
| Price to Book | 3.26 x | 2.23 x | 2.26 x | 2.42 x | 2.88 x | 2.1 x |
| Nbr of stocks (in thousands) | 4,792 | 4,783 | 4,788 | 4,793 | 3,679 | 3,743 |
| Reference price 2 | 435.0 | 349.0 | 345.0 | 366.0 | 312.0 | 349.0 |
| Announcement Date | 9/27/18 | 9/27/19 | 9/28/20 | 9/29/21 | 9/30/22 | 9/29/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 14,998 | 13,963 | 13,560 | 12,337 | 12,668 | 13,418 |
| EBITDA 1 | 1,278 | 1,176 | 776 | 472 | 824 | 938 |
| EBIT 1 | 652 | 581 | 292 | -11 | 398 | 569 |
| Operating Margin | 4.35% | 4.16% | 2.15% | -0.09% | 3.14% | 4.24% |
| Earnings before Tax (EBT) 1 | 327 | 308 | 177 | 293 | 236 | 395 |
| Net income 1 | 112 | 197 | 57 | 73 | 130 | 239 |
| Net margin | 0.75% | 1.41% | 0.42% | 0.59% | 1.03% | 1.78% |
| EPS 2 | 23.38 | 41.16 | 11.91 | 15.23 | 34.14 | 64.23 |
| Free Cash Flow 1 | 2,531 | 1,421 | -872.9 | 617.8 | -186 | 694.1 |
| FCF margin | 16.88% | 10.18% | -6.44% | 5.01% | -1.47% | 5.17% |
| FCF Conversion (EBITDA) | 198.04% | 120.87% | - | 130.88% | - | 74% |
| FCF Conversion (Net income) | 2,259.82% | 721.51% | - | 846.23% | - | 290.43% |
| Dividend per Share 2 | 16.40 | 16.40 | 16.40 | 16.40 | 10.00 | 15.00 |
| Announcement Date | 9/27/18 | 9/27/19 | 9/28/20 | 9/29/21 | 9/30/22 | 9/29/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2021 S1 | 2022 Q1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2024 Q1 | 2024 S1 | 2024 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,303 | 6,028 | 2,694 | 6,402 | 3,501 | 3,133 | 5,681 | 3,738 | 4,218 | 7,064 | 2,348 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 376 | 250 | -85 | 230 | 150 | 135 | 151 | 216 | 274 | 372 | 50 |
| Operating Margin | 5.97% | 4.15% | -3.16% | 3.59% | 4.28% | 4.31% | 2.66% | 5.78% | 6.5% | 5.27% | 2.13% |
| Earnings before Tax (EBT) 1 | 326 | 222 | -123 | 182 | 148 | 134 | 132 | 193 | 240 | 321 | 31 |
| Net income 1 | 178.4 | 137 | -116 | 123 | 100 | 99 | 100 | 125 | 145 | 187 | 21 |
| Net margin | 2.83% | 2.27% | -4.31% | 1.92% | 2.86% | 3.16% | 1.76% | 3.34% | 3.44% | 2.65% | 0.89% |
| EPS 2 | 37.29 | 28.58 | -27.80 | 31.27 | 26.74 | 27.04 | 27.26 | 33.45 | 38.75 | 49.98 | 5.410 |
| Dividend per Share | 8.200 | 8.200 | - | 5.000 | - | - | 5.000 | - | - | 8.000 | - |
| Announcement Date | 2/10/20 | 2/10/21 | 11/10/21 | 1/27/22 | 4/28/22 | 10/31/22 | 1/31/23 | 5/10/23 | 11/10/23 | 2/9/24 | 5/10/24 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 6,738 | 5,411 | 5,400 | 3,993 | 4,260 | 3,693 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.272 x | 4.601 x | 6.959 x | 8.46 x | 5.17 x | 3.937 x |
| Free Cash Flow 1 | 2,531 | 1,421 | -873 | 618 | -186 | 694 |
| ROE (net income / shareholders' equity) | 18% | 28.4% | 7.69% | 10% | 23.2% | 46.8% |
| ROA (Net income/ Total Assets) | 3.35% | 3.11% | 1.7% | -0.07% | 2.85% | 3.95% |
| Assets 1 | 3,346 | 6,334 | 3,344 | -97,724 | 4,566 | 6,046 |
| Book Value Per Share 2 | 133.0 | 157.0 | 153.0 | 151.0 | 108.0 | 166.0 |
| Cash Flow per Share 2 | 433.0 | 557.0 | 359.0 | 476.0 | 601.0 | 768.0 |
| Capex 1 | 372 | 504 | 544 | 533 | 226 | 254 |
| Capex / Sales | 2.48% | 3.61% | 4.01% | 4.32% | 1.78% | 1.89% |
| Announcement Date | 9/27/18 | 9/27/19 | 9/28/20 | 9/29/21 | 9/30/22 | 9/29/23 |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +45.58% | 18.25M | |
| 0.00% | 2.18B | |
| -5.07% | 1.9B | |
| -7.01% | 1.36B | |
| +5.35% | 1.07B | |
| -23.64% | 148M | |
| -0.67% | 121M | |
| +31.43% | 107M | |
| +0.77% | 70.73M |
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