Financials Union Tool Co.

Equities

6278

JP3950600001

Industrial Machinery & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-06-07 am EDT			5-day change	1st Jan Change
5,820 ^JPY	+1.75%		+2.11%	+74.25%

May. 13	Union Tool Co. Revises Consolidated Financial Forecast for the First Half of the Fiscal Year Ending December 31, 2024 and the Fiscal Year Ending December 31, 2024	CI
Feb. 14	Union Tool Co. Provides Consolidated Earnings Guidance for the Six Months Ending June 2024 and Full Year Ending December 31, 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	58,739	53,470	68,758	55,800	57,699	100,541	-	-
Enterprise Value (EV) ¹	46,629	37,667	51,177	34,829	37,628	100,541	100,541	100,541
P/E ratio	24.6 x	21.1 x	18.1 x	11.2 x	18.7 x	21.6 x	21.4 x	19.8 x
Yield	1.76%	2.26%	1.93%	2.6%	2.51%	1.44%	1.49%	1.54%
Capitalization / Revenue	2.57 x	2.34 x	2.44 x	1.92 x	2.28 x	3.19 x	3.19 x	2.99 x
EV / Revenue	2.57 x	2.34 x	2.44 x	1.92 x	2.28 x	3.19 x	3.19 x	2.99 x
EV / EBITDA	10.2 x	9.53 x	8.48 x	6.31 x	8.88 x	11.3 x	10.8 x	10.2 x
EV / FCF	34.2 x	17.7 x	-	11.8 x	-179 x	-37 x	29.1 x	33.8 x
FCF Yield	2.92%	5.63%	-	8.5%	-0.56%	-2.7%	3.44%	2.96%
Price to Book	1.1 x	0.99 x	1.16 x	0.88 x	0.86 x	1.43 x	1.39 x	1.33 x
Nbr of stocks (in thousands)	17,276	17,276	17,276	17,275	17,275	17,275	-	-
Reference price ²	3,400	3,095	3,980	3,230	3,340	5,820	5,820	5,820
Announcement Date	2/7/20	2/12/21	2/15/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	22,877	22,817	28,174	29,091	25,338	31,500	31,500	33,600
EBITDA ¹	5,770	5,612	8,111	8,837	6,495	8,930	9,350	9,900
EBIT ¹	3,074	2,864	5,430	6,190	3,778	6,000	6,350	6,900
Operating Margin	13.44%	12.55%	19.27%	21.28%	14.91%	19.05%	20.16%	20.54%
Earnings before Tax (EBT)	3,103	3,467	5,178	7,354	4,033	-	6,100	6,500
Net income ¹	2,383	2,539	3,803	4,996	3,077	4,650	4,700	5,090
Net margin	10.42%	11.13%	13.5%	17.17%	12.14%	14.76%	14.92%	15.15%
EPS ²	138.0	147.0	220.2	289.2	178.2	269.2	272.0	294.6
Free Cash Flow ¹	1,718	3,013	-	4,745	-323	-2,716	3,456	2,976
FCF margin	7.51%	13.21%	-	16.31%	-1.27%	-8.62%	10.97%	8.86%
FCF Conversion (EBITDA)	29.77%	53.69%	-	53.69%	-	-	36.97%	30.06%
FCF Conversion (Net income)	72.09%	118.67%	-	94.98%	-	-	73.54%	58.46%
Dividend per Share ²	60.00	70.00	77.00	84.00	84.00	84.00	86.50	89.50
Announcement Date	2/7/20	2/12/21	2/15/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2021 S1	2021 Q4	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
Net sales ¹	11,932	11,027	13,281	7,670	14,893	7,475	7,851	15,326	7,774	5,991	13,765	5,792	6,526	12,318	6,661	6,359	13,020	7,423	8,077	15,500	8,000	8,000	16,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,537	1,348	2,285	1,538	3,145	1,566	1,955	3,521	1,994	675	2,669	953	1,095	2,048	987	743	1,730	1,422	1,578	3,000	1,600	1,400	3,000
Operating Margin	12.88%	12.22%	17.21%	20.05%	21.12%	20.95%	24.9%	22.97%	25.65%	11.27%	19.39%	16.45%	16.78%	16.63%	14.82%	11.68%	13.29%	19.16%	19.54%	19.35%	20%	17.5%	18.75%
Earnings before Tax (EBT)	1,587	1,402	2,364	-	-	1,632	-	3,540	2,263	-	-	1,047	-	2,202	1,008	-	-	1,652	-	-	-	-	-
Net income	1,178	1,078	1,761	-	-	1,223	-	2,606	1,603	-	-	763	-	1,620	735	-	-	1,198	-	-	-	-	-
Net margin	9.87%	9.78%	13.26%	-	-	16.36%	-	17%	20.62%	-	-	13.17%	-	13.15%	11.03%	-	-	16.14%	-	-	-	-	-
EPS	-	62.43	102.0	-	-	70.81	-	150.9	92.79	-	-	44.21	-	93.79	42.53	-	-	69.35	-	-	-	-	-
Dividend per Share	-	30.00	37.00	-	-	-	-	42.00	-	-	42.00	-	-	42.00	-	-	-	-	-	-	-	-	-
Announcement Date	2/7/20	8/12/20	8/10/21	2/15/22	2/15/22	5/13/22	8/9/22	8/9/22	11/9/22	2/14/23	2/14/23	5/12/23	8/8/23	8/8/23	11/8/23	2/14/24	2/14/24	5/13/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	12,110	15,803	17,581	20,971	20,071	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	1,718	3,013	-	4,745	-323	-2,716	3,457	2,976
ROE (net income / shareholders' equity)	4.5%	4.7%	6.7%	8.1%	4.7%	5.4%	-	-
ROA (Net income/ Total Assets)	5.19%	4.91%	8.82%	10.1%	5.83%	-	-	-
Assets ¹	45,891	51,680	43,102	49,561	52,784	-	-	-
Book Value Per Share ²	3,100	3,124	3,419	3,683	3,895	4,080	4,199	4,386
Cash Flow per Share	294.0	306.0	375.0	442.0	335.0	-	-	-
Capex ¹	3,323	2,058	2,337	2,251	2,720	5,398	3,000	3,000
Capex / Sales	14.53%	9.02%	8.29%	7.74%	10.73%	17.14%	9.52%	8.93%
Announcement Date	2/7/20	2/12/21	2/15/22	2/14/23	2/14/24	-	-	-

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 Union Tool Co.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

5,820 JPY

Average target price

5,040 JPY

Spread / Average Target

-13.40%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Machine Tools