AZ-COM MARUWA HOLDINGS INC. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,183 JPY | -1.58% |
|
-2.80% | -22.76% |
| Mar. 29 | Z-Com Maruwa to Acquire Chilled & Frozen Logistics Holdings Via Tender Offer Worth 65.16 Billion Yen | MT |
| Mar. 29 | Chilled & Frozen Logistics Holdings Suspends Buyback Program | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 121,440 | 156,832 | 242,454 | 141,204 | 250,408 | 162,137 | - | - |
| Enterprise Value (EV) 1 | 119,425 | 153,329 | 243,461 | 143,389 | 259,697 | 153,043 | 146,838 | 138,449 |
| P/E ratio | 31.1 x | 32.5 x | 44.2 x | 23.1 x | 32.2 x | 16.5 x | 14.4 x | 13 x |
| Yield | 0.96% | 0.9% | 0.98% | 1.69% | 1.18% | 2.51% | 2.68% | 2.95% |
| Capitalization / Revenue | 1.42 x | 1.59 x | 2.16 x | 1.06 x | 1.41 x | 0.81 x | 0.72 x | 0.65 x |
| EV / Revenue | 1.4 x | 1.56 x | 2.17 x | 1.08 x | 1.46 x | 0.77 x | 0.65 x | 0.56 x |
| EV / EBITDA | 17.3 x | 17.7 x | 25.4 x | 14 x | 19.1 x | 8.76 x | 7.3 x | 6.22 x |
| EV / FCF | 30 x | 43 x | 71.7 x | 28.2 x | -99.5 x | 30.8 x | 19.4 x | 14.7 x |
| FCF Yield | 3.33% | 2.32% | 1.39% | 3.54% | -1.01% | 3.25% | 5.15% | 6.78% |
| Price to Book | 5.27 x | 5.93 x | 9.43 x | 4.88 x | 6.97 x | 3.25 x | 2.78 x | 2.46 x |
| Nbr of stocks (in thousands) | 128,169 | 128,288 | 125,689 | 125,738 | 125,833 | 134,890 | - | - |
| Reference price 2 | 947.5 | 1,222 | 1,929 | 1,123 | 1,990 | 1,202 | 1,202 | 1,202 |
| Announcement Date | 5/8/19 | 5/11/20 | 5/10/21 | 5/10/22 | 5/10/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 85,590 | 98,348 | 112,113 | 133,000 | 177,829 | 199,220 | 224,762 | 248,514 |
| EBITDA 1 | 6,917 | 8,661 | 9,579 | 10,246 | 13,573 | 17,461 | 20,113 | 22,272 |
| EBIT 1 | 5,814 | 7,194 | 8,019 | 8,649 | 11,362 | 14,700 | 16,934 | 18,837 |
| Operating Margin | 6.79% | 7.31% | 7.15% | 6.5% | 6.39% | 7.38% | 7.53% | 7.58% |
| Earnings before Tax (EBT) 1 | 6,039 | 7,419 | 8,262 | 9,139 | 12,214 | 15,535 | 17,527 | 19,637 |
| Net income 1 | 3,901 | 4,818 | 5,536 | 6,125 | 7,780 | 9,552 | 11,079 | 12,346 |
| Net margin | 4.56% | 4.9% | 4.94% | 4.61% | 4.37% | 4.79% | 4.93% | 4.97% |
| EPS 2 | 30.44 | 37.58 | 43.60 | 48.72 | 61.86 | 72.90 | 83.22 | 92.71 |
| Free Cash Flow 1 | 3,979 | 3,564 | 3,394 | 5,082 | -2,610 | 4,970 | 7,567 | 9,393 |
| FCF margin | 4.65% | 3.62% | 3.03% | 3.82% | -1.47% | 2.49% | 3.37% | 3.78% |
| FCF Conversion (EBITDA) | 57.52% | 41.16% | 35.43% | 49.6% | - | 28.46% | 37.62% | 42.17% |
| FCF Conversion (Net income) | 101.99% | 73.98% | 61.3% | 82.97% | - | 52.03% | 68.3% | 76.08% |
| Dividend per Share 2 | 9.100 | 10.95 | 18.96 | 19.00 | 23.50 | 30.21 | 32.20 | 35.40 |
| Announcement Date | 5/8/19 | 5/11/20 | 5/10/21 | 5/10/22 | 5/10/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 47,561 | 53,768 | 30,429 | 59,749 | 37,358 | 35,893 | 40,950 | 43,380 | 84,330 | 48,961 | 44,538 | 47,528 | 49,032 | 96,560 | 53,568 | 49,525 | 52,400 | 54,900 | 61,000 | 56,700 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 3,430 | 4,376 | 2,046 | 4,333 | 2,445 | 1,871 | 2,371 | 2,658 | 5,029 | 3,535 | 2,798 | 3,745 | 3,572 | 7,317 | 4,256 | 3,288 | 3,940 | 4,340 | 5,080 | 3,940 |
| Operating Margin | 7.21% | 8.14% | 6.72% | 7.25% | 6.54% | 5.21% | 5.79% | 6.13% | 5.96% | 7.22% | 6.28% | 7.88% | 7.29% | 7.58% | 7.95% | 6.64% | 7.52% | 7.91% | 8.33% | 6.95% |
| Earnings before Tax (EBT) 1 | 3,539 | 4,477 | 2,147 | 4,544 | 2,576 | 2,019 | 2,557 | 2,710 | 5,267 | 3,997 | 2,950 | 3,751 | 3,793 | 7,544 | 4,573 | 3,234 | 4,040 | 4,470 | 5,230 | 4,060 |
| Net income 1 | 2,440 | 3,084 | 1,530 | 3,260 | 1,835 | 1,030 | 1,666 | 1,783 | 3,449 | 2,623 | 1,708 | 2,117 | 2,428 | 4,545 | 2,891 | 2,154 | 2,550 | 2,810 | 3,290 | 2,540 |
| Net margin | 5.13% | 5.74% | 5.03% | 5.46% | 4.91% | 2.87% | 4.07% | 4.11% | 4.09% | 5.36% | 3.83% | 4.45% | 4.95% | 4.71% | 5.4% | 4.35% | 4.87% | 5.12% | 5.39% | 4.48% |
| EPS | 19.04 | 24.18 | 12.17 | 25.94 | 14.59 | 8.190 | 13.25 | 14.18 | 27.43 | 20.85 | 13.58 | 16.82 | 19.29 | 36.11 | 22.63 | - | - | - | - | - |
| Dividend per Share | 5.475 | 9.475 | - | 9.500 | - | - | - | - | 11.75 | - | - | - | - | 15.00 | - | - | - | - | - | - |
| Announcement Date | 10/31/19 | 11/2/20 | 11/1/21 | 11/1/21 | 1/31/22 | 5/10/22 | 8/1/22 | 10/31/22 | 10/31/22 | 1/31/23 | 5/10/23 | 8/2/23 | 11/6/23 | 11/6/23 | 2/5/24 | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 1,008 | 2,185 | 9,289 | - | - | - |
| Net Cash position 1 | 2,015 | 3,503 | - | - | - | 9,094 | 15,299 | 23,688 |
| Leverage (Debt/EBITDA) | - | - | 0.1052 x | 0.2133 x | 0.6844 x | - | - | - |
| Free Cash Flow 1 | 3,979 | 3,564 | 3,394 | 5,082 | -2,610 | 4,970 | 7,567 | 9,393 |
| ROE (net income / shareholders' equity) | 17.9% | 19.5% | 21.3% | 22.4% | 24% | 22.2% | 20.7% | 20.2% |
| ROA (Net income/ Total Assets) | 14.2% | 15.7% | 13.6% | 11.5% | 12.1% | 9.4% | 9.3% | 10% |
| Assets 1 | 27,466 | 30,623 | 40,744 | 53,315 | 64,438 | 101,614 | 119,124 | 123,458 |
| Book Value Per Share 2 | 180.0 | 206.0 | 205.0 | 230.0 | 285.0 | 370.0 | 432.0 | 488.0 |
| Cash Flow per Share 2 | 39.00 | 49.00 | 55.90 | 61.40 | 79.40 | 139.0 | 151.0 | 170.0 |
| Capex 1 | 2,344 | 2,634 | 3,359 | 1,005 | 8,830 | 11,800 | 10,833 | 10,900 |
| Capex / Sales | 2.74% | 2.68% | 3% | 0.76% | 4.97% | 5.92% | 4.82% | 4.39% |
| Announcement Date | 5/8/19 | 5/11/20 | 5/10/21 | 5/10/22 | 5/10/23 | - | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
1,202
JPY
Average target price
1,598
JPY
Spread / Average Target
+32.90%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -22.76% | 1.04B | |
| -0.03% | 77.34B | |
| +1.83% | 73.29B | |
| -.--% | 26.71B | |
| +21.45% | 12.5B | |
| -10.53% | 12.06B | |
| -16.55% | 8.23B | |
| -18.66% | 7.44B | |
| -12.16% | 7.21B | |
| -3.72% | 5.41B |
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