AVEX INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,282 JPY | +0.31% |
|
-0.39% | -6.29% |
| Feb. 28 | Avex Nine-Month Profit Slumps 49% | MT |
| 2023 | Avex’s Attributable Profit Drops 23.4% in Fiscal H1 on Higher Expenses | MT |
Valuation
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 64,261 | 63,749 | 36,997 | 59,682 | 60,054 | 67,587 |
| Enterprise Value (EV) 1 | 61,327 | 59,092 | 42,669 | 7,086 | 15,399 | 19,453 |
| P/E ratio | 24.9 x | 27.2 x | -33.5 x | 4.59 x | 64.3 x | 24.6 x |
| Yield | 3.34% | 3.39% | 5.88% | 8.85% | 3.75% | 3.34% |
| Capitalization / Revenue | 0.39 x | 0.4 x | 0.27 x | 0.73 x | 0.61 x | 0.56 x |
| EV / Revenue | 0.38 x | 0.37 x | 0.31 x | 0.09 x | 0.16 x | 0.16 x |
| EV / EBITDA | 5.55 x | 5.64 x | 5.82 x | -2.09 x | 3.24 x | 3.39 x |
| EV / FCF | 54.5 x | 5.16 x | -6.06 x | -5.28 x | -2.08 x | 3.18 x |
| FCF Yield | 1.84% | 19.4% | -16.5% | -18.9% | -48.1% | 31.4% |
| Price to Book | 1.3 x | 1.3 x | 0.8 x | 1.02 x | 1.04 x | 1.16 x |
| Nbr of stocks (in thousands) | 42,984 | 43,190 | 43,475 | 43,659 | 45,018 | 45,149 |
| Reference price 2 | 1,495 | 1,476 | 851.0 | 1,367 | 1,334 | 1,497 |
| Announcement Date | 6/25/18 | 6/24/19 | 6/29/20 | 6/28/21 | 6/27/22 | 6/27/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 163,375 | 160,126 | 135,469 | 81,527 | 98,437 | 121,561 |
| EBITDA 1 | 11,048 | 10,475 | 7,326 | -3,390 | 4,753 | 5,731 |
| EBIT 1 | 6,939 | 7,090 | 4,034 | -6,278 | 2,583 | 3,385 |
| Operating Margin | 4.25% | 4.43% | 2.98% | -7.7% | 2.62% | 2.78% |
| Earnings before Tax (EBT) 1 | 6,444 | 5,388 | 684 | 19,514 | 2,229 | 4,649 |
| Net income 1 | 2,601 | 2,354 | -1,102 | 12,831 | 919 | 2,742 |
| Net margin | 1.59% | 1.47% | -0.81% | 15.74% | 0.93% | 2.26% |
| EPS 2 | 60.11 | 54.36 | -25.37 | 298.1 | 20.75 | 60.78 |
| Free Cash Flow 1 | 1,126 | 11,457 | -7,036 | -1,343 | -7,412 | 6,111 |
| FCF margin | 0.69% | 7.15% | -5.19% | -1.65% | -7.53% | 5.03% |
| FCF Conversion (EBITDA) | 10.19% | 109.37% | - | - | - | 106.63% |
| FCF Conversion (Net income) | 43.29% | 486.69% | - | - | - | 222.87% |
| Dividend per Share 2 | 50.00 | 50.00 | 50.00 | 121.0 | 50.00 | 50.00 |
| Announcement Date | 6/25/18 | 6/24/19 | 6/29/20 | 6/28/21 | 6/27/22 | 6/27/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2024 Q1 | 2024 S1 | 2024 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 61,189 | 34,279 | 46,304 | 29,728 | 28,473 | 54,060 | 31,465 | 31,973 | 64,355 | 30,027 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | -688 | -2,229 | 2,634 | 1,292 | 2,288 | 3,619 | -275 | 1,881 | 2,167 | -590 |
| Operating Margin | -1.12% | -6.5% | 5.69% | 4.35% | 8.04% | 6.69% | -0.87% | 5.88% | 3.37% | -1.96% |
| Earnings before Tax (EBT) 1 | -1,230 | -3,120 | 2,536 | 1,458 | 2,300 | 4,622 | -221 | 3,639 | 3,697 | -862 |
| Net income 1 | -1,762 | -3,289 | 1,612 | 795 | 1,675 | 3,207 | -381 | 2,704 | 2,458 | -1,021 |
| Net margin | -2.88% | -9.59% | 3.48% | 2.67% | 5.88% | 5.93% | -1.21% | 8.46% | 3.82% | -3.4% |
| EPS 2 | -40.60 | -75.53 | 37.03 | 17.64 | 37.21 | 71.17 | -8.500 | 59.90 | 54.40 | -22.61 |
| Dividend per Share | 25.00 | 25.00 | 25.00 | - | - | 25.00 | - | - | 25.00 | - |
| Announcement Date | 11/7/19 | 11/5/20 | 11/4/21 | 2/10/22 | 8/4/22 | 11/10/22 | 2/9/23 | 8/10/23 | 11/9/23 | 2/8/24 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 5,672 | - | - | - |
| Net Cash position 1 | 2,934 | 4,657 | - | 52,596 | 44,655 | 48,134 |
| Leverage (Debt/EBITDA) | - | - | 0.7742 x | - | - | - |
| Free Cash Flow 1 | 1,126 | 11,457 | -7,036 | -1,343 | -7,412 | 6,111 |
| ROE (net income / shareholders' equity) | 6.3% | 5.57% | -1.07% | 24.4% | 1.82% | 5.06% |
| ROA (Net income/ Total Assets) | 3.45% | 3.43% | 2.05% | -3.48% | 1.59% | 2.05% |
| Assets 1 | 75,354 | 68,714 | -53,811 | -368,739 | 57,755 | 133,965 |
| Book Value Per Share 2 | 1,147 | 1,133 | 1,066 | 1,338 | 1,285 | 1,286 |
| Cash Flow per Share 2 | 654.0 | 527.0 | 413.0 | 1,271 | 992.0 | 1,066 |
| Capex 1 | 9,376 | 1,881 | 332 | 2,055 | 659 | 1,131 |
| Capex / Sales | 5.74% | 1.17% | 0.25% | 2.52% | 0.67% | 0.93% |
| Announcement Date | 6/25/18 | 6/24/19 | 6/29/20 | 6/28/21 | 6/27/22 | 6/27/23 |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| -6.29% | 369M | |
| +6.86% | 53.63B | |
| -13.70% | 6.1B | |
| +5.24% | 2.59B | |
| -34.16% | 1.61B | |
| +42.86% | 1.55B | |
| -12.05% | 1.37B | |
| +36.33% | 181M | |
| -10.20% | 130M |
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