ANRITSU CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,185 JPY | -2.63% |
|
+0.47% | -12.90% |
| Apr. 26 | Japanese Shares Close Up Week as Yen Slips After BoJ Rate Decision | MT |
| Apr. 26 | Anritsu's Fiscal 2023 Attributable Profit Slumps on Weak Test, Measurement Revenue; Shares Down 3% | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 281,535 | 275,654 | 332,082 | 209,584 | 160,771 | 156,033 | - | - |
| Enterprise Value (EV) 1 | 253,121 | 244,903 | 286,403 | 168,432 | 128,672 | 162,814 | 115,869 | 114,492 |
| P/E ratio | 31.4 x | 20.6 x | 20.6 x | 16.5 x | 17.4 x | 21.2 x | 17.8 x | 15.5 x |
| Yield | 1.07% | 1.55% | 1.66% | 2.58% | 3.28% | 3.38% | 3.38% | 3.38% |
| Capitalization / Revenue | 2.82 x | 2.58 x | 3.14 x | 1.99 x | 1.45 x | 1.48 x | 1.36 x | 1.29 x |
| EV / Revenue | 2.54 x | 2.29 x | 2.7 x | 1.6 x | 1.16 x | 1.48 x | 1.01 x | 0.95 x |
| EV / EBITDA | 16.2 x | 10.9 x | 11.6 x | 7.79 x | 7.4 x | 7.74 x | 6.8 x | 6.04 x |
| EV / FCF | 26.8 x | 20.6 x | 19.7 x | 23 x | 143 x | 12.6 x | 18.5 x | 15.7 x |
| FCF Yield | 3.73% | 4.86% | 5.08% | 4.35% | 0.7% | 7.92% | 5.41% | 6.38% |
| Price to Book | 3.29 x | 2.93 x | 3.04 x | 1.84 x | 1.37 x | 1.3 x | 1.27 x | 1.23 x |
| Nbr of stocks (in thousands) | 137,334 | 137,415 | 137,451 | 134,954 | 131,672 | 131,673 | - | - |
| Reference price 2 | 2,050 | 2,006 | 2,416 | 1,553 | 1,221 | 1,185 | 1,185 | 1,185 |
| Announcement Date | 4/25/19 | 4/27/20 | 4/27/21 | 4/28/22 | 4/28/23 | 4/25/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 99,659 | 107,000 | 105,900 | 105,400 | 110,900 | 110,000 | 114,879 | 121,072 |
| EBITDA 1 | 15,632 | 22,412 | 24,597 | 21,631 | 17,393 | 15,122 | 17,050 | 18,941 |
| EBIT 1 | 11,246 | 17,400 | 19,700 | 16,500 | 11,700 | 9,000 | 11,390 | 13,204 |
| Operating Margin | 11.28% | 16.26% | 18.6% | 15.65% | 10.55% | 8.18% | 9.91% | 10.91% |
| Earnings before Tax (EBT) 1 | 11,362 | 17,200 | 19,800 | 17,200 | 12,400 | 10,000 | 11,865 | 12,958 |
| Net income 1 | 8,956 | 13,400 | 16,100 | 12,800 | 9,300 | 7,675 | 8,884 | 10,039 |
| Net margin | 8.99% | 12.52% | 15.2% | 12.14% | 8.39% | 6.98% | 7.73% | 8.29% |
| EPS 2 | 65.20 | 97.20 | 117.2 | 93.98 | 69.98 | 58.29 | 66.75 | 76.43 |
| Free Cash Flow 1 | 9,440 | 11,900 | 14,562 | 7,325 | 898 | 12,900 | 6,270 | 7,310 |
| FCF margin | 9.47% | 11.12% | 13.75% | 6.95% | 0.81% | 11.73% | 5.46% | 6.04% |
| FCF Conversion (EBITDA) | 60.39% | 53.1% | 59.2% | 33.86% | 5.16% | 72.86% | 36.78% | 38.59% |
| FCF Conversion (Net income) | 105.4% | 88.81% | 90.45% | 57.23% | 9.66% | 168.08% | 70.58% | 72.81% |
| Dividend per Share 2 | 22.00 | 31.00 | 40.00 | 40.00 | 40.00 | 40.00 | 40.00 | 40.00 |
| Announcement Date | 4/25/19 | 4/27/20 | 4/27/21 | 4/28/22 | 4/28/23 | 4/25/24 | - | - |
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 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 49,808 | 57,192 | 52,161 | 53,800 | 27,443 | 51,231 | 24,632 | 29,500 | 54,169 | 26,180 | 27,783 | 53,963 | 27,700 | 29,200 | 56,937 | 22,742 | 28,153 | 50,895 | 26,886 | 32,200 | 59,105 | 24,676 | 28,309 | 28,674 | 31,850 |
| EBITDA 1 | - | - | - | - | 5,664 | - | 4,737 | 7,133 | - | 4,455 | 3,860 | - | 4,068 | 5,008 | - | 1,444 | 4,447 | - | 3,738 | 6,097 | - | 4,063 | 4,565 | 4,728 | - |
| EBIT 1 | 6,632 | 10,768 | 9,846 | 9,800 | 4,400 | 7,483 | 3,459 | 5,600 | 9,017 | 3,017 | 2,395 | 5,412 | 2,600 | 3,700 | 6,288 | -57 | 2,991 | 2,934 | 2,225 | 3,800 | 6,066 | 1,600 | 3,100 | 2,350 | 4,450 |
| Operating Margin | 13.32% | 18.83% | 18.88% | 18.22% | 16.03% | 14.61% | 14.04% | 18.98% | 16.65% | 11.52% | 8.62% | 10.03% | 9.39% | 12.67% | 11.04% | -0.25% | 10.62% | 5.76% | 8.28% | 11.8% | 10.26% | 6.48% | 10.95% | 8.2% | 13.97% |
| Earnings before Tax (EBT) 1 | 6,371 | 10,829 | 9,725 | 10,113 | 4,428 | 7,513 | 3,583 | 6,104 | 9,687 | 3,915 | 2,855 | 6,770 | 2,030 | 3,625 | 5,630 | 427 | 3,176 | 3,603 | 2,032 | 4,365 | 6,397 | - | - | - | - |
| Net income 1 | 4,656 | 8,744 | 7,061 | 9,044 | 3,381 | 5,464 | 2,704 | 4,632 | 7,336 | 2,917 | 2,183 | 5,100 | 1,200 | 3,051 | 4,200 | 250 | 2,539 | 2,789 | 1,134 | 3,752 | 4,886 | - | - | - | - |
| Net margin | 9.35% | 15.29% | 13.54% | 16.81% | 12.32% | 10.67% | 10.98% | 15.7% | 13.54% | 11.14% | 7.86% | 9.45% | 4.33% | 10.45% | 7.38% | 1.1% | 9.02% | 5.48% | 4.22% | 11.65% | 8.27% | - | - | - | - |
| EPS 2 | 33.89 | - | 51.38 | - | 24.67 | 39.83 | 20.00 | 34.15 | - | 21.70 | 16.55 | 38.29 | 8.790 | 22.90 | - | 1.900 | 19.28 | 21.19 | 8.610 | 28.49 | - | - | - | - | - |
| Dividend per Share | 11.00 | - | 15.50 | - | - | 20.00 | - | - | - | - | - | 20.00 | - | - | - | - | - | 20.00 | - | - | - | - | - | - | - |
| Announcement Date | 10/30/19 | 4/27/20 | 10/29/20 | 4/27/21 | 10/28/21 | 10/28/21 | 1/27/22 | 4/28/22 | 4/28/22 | 7/28/22 | 10/28/22 | 10/28/22 | 1/30/23 | 4/28/23 | 4/28/23 | 7/28/23 | 10/30/23 | 10/30/23 | 1/30/24 | 4/25/24 | 4/25/24 | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 28,414 | 30,751 | 45,679 | 41,152 | 32,099 | 38,943 | 40,164 | 41,541 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 9,440 | 11,900 | 14,562 | 7,325 | 898 | 12,900 | 6,270 | 7,310 |
| ROE (net income / shareholders' equity) | 10.9% | 14.9% | 15.8% | 11.5% | 8% | 6.3% | 7.23% | 8.21% |
| ROA (Net income/ Total Assets) | 9.03% | 9.95% | 14% | 11.5% | 8.14% | 6.35% | 7.7% | 7.3% |
| Assets 1 | 99,183 | 134,700 | 114,827 | 110,969 | 114,212 | 120,830 | 115,377 | 137,520 |
| Book Value Per Share 2 | 623.0 | 685.0 | 795.0 | 846.0 | 891.0 | 953.0 | 936.0 | 967.0 |
| Cash Flow per Share 2 | 97.10 | 107.0 | 153.0 | 132.0 | 113.0 | 103.0 | 101.0 | 107.0 |
| Capex 1 | 2,807 | 2,800 | 5,919 | 6,200 | 5,973 | 3,600 | 5,486 | 5,454 |
| Capex / Sales | 2.82% | 2.62% | 5.59% | 5.88% | 5.39% | 3.27% | 4.78% | 4.51% |
| Announcement Date | 4/25/19 | 4/27/20 | 4/27/21 | 4/28/22 | 4/28/23 | 4/25/24 | - | - |
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
B
Sell
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
1,185
JPY
Average target price
1,207
JPY
Spread / Average Target
+1.87%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -12.90% | 991M | |
| +12.06% | 107B | |
| -0.62% | 29.43B | |
| +12.05% | 22.21B | |
| -16.05% | 17.75B | |
| -6.34% | 17.25B | |
| +8.74% | 15.28B | |
| -4.89% | 12.2B | |
| -2.85% | 10.42B | |
| -8.86% | 9.04B |
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