Financials C.Uyemura & Co.,Ltd.

Equities

4966

JP3155350006

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
10,380 ^JPY	+2.47%		+8.81%	-6.15%

2023	Tranche Update on C.Uyemura & Co.,Ltd.'s Equity Buyback Plan announced on May 12, 2023.	CI
2023	C.Uyemura & Co.,Ltd.'s Equity Buyback announced on May 12, 2023, has closed with 344,100 shares, representing 2.1% for ¥2,999.3 million.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	58,423	52,044	69,661	98,398	106,662	167,361	-	-
Enterprise Value (EV) ¹	25,056	26,347	39,910	68,410	75,143	167,361	167,361	167,361
P/E ratio	10.3 x	9.77 x	9.78 x	10.2 x	10.2 x	17 x	14.9 x	13.7 x
Yield	2.31%	2.74%	2.28%	2.28%	2.78%	1.73%	1.93%	2.12%
Capitalization / Revenue	1.12 x	1 x	1.25 x	1.36 x	1.24 x	2.15 x	2.02 x	1.91 x
EV / Revenue	1.12 x	1 x	1.25 x	1.36 x	1.24 x	2.15 x	2.02 x	1.91 x
EV / EBITDA	5.69 x	6.47 x	6.03 x	6.2 x	6.25 x	10.6 x	8.81 x	7.97 x
EV / FCF	9,288,165 x	-10,826,737 x	9,423,859 x	36,123,484 x	14,764,911 x	-	-	-
FCF Yield	0%	-0%	0%	0%	0%	-	-	-
Price to Book	0.96 x	0.81 x	1 x	1.25 x	1.26 x	1.9 x	1.7 x	1.56 x
Nbr of stocks (in thousands)	18,004	17,793	17,681	17,233	16,460	16,123	-	-
Reference price ²	3,245	2,925	3,940	5,710	6,480	10,380	10,380	10,380
Announcement Date	5/13/19	5/14/20	5/14/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	51,979	52,223	55,947	72,303	85,749	78,000	83,000	87,600
EBITDA ¹	10,261	8,047	11,557	15,860	17,072	15,759	19,000	21,000
EBIT ¹	8,212	7,539	9,490	13,947	15,046	13,840	16,200	17,600
Operating Margin	15.8%	14.44%	16.96%	19.29%	17.55%	17.74%	19.52%	20.09%
Earnings before Tax (EBT)	8,216	7,777	9,926	14,067	15,555	-	-	-
Net income ¹	5,653	5,358	7,128	9,681	10,545	9,500	11,250	12,250
Net margin	10.88%	10.26%	12.74%	13.39%	12.3%	12.18%	13.55%	13.98%
EPS ²	314.0	299.3	402.9	559.6	636.8	610.9	697.8	759.8
Free Cash Flow	6,290	-4,807	7,392	2,724	7,224	-	-	-
FCF margin	12.1%	-9.2%	13.21%	3.77%	8.42%	-	-	-
FCF Conversion (EBITDA)	61.3%	-	63.96%	17.17%	42.32%	-	-	-
FCF Conversion (Net income)	111.27%	-	103.7%	28.14%	68.51%	-	-	-
Dividend per Share ²	75.00	80.00	90.00	130.0	180.0	180.0	200.0	220.0
Announcement Date	5/13/19	5/14/20	5/14/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2021 S2	2022 Q2	2022 S1	2022 Q3	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	24,335	26,319	29,628	17,267	33,027	18,614	39,276	20,187	21,918	42,105	22,833	20,811	43,644	17,514	19,706	37,220	20,657	20,112	40,780
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	3,380	3,799	5,691	3,422	6,226	3,928	7,721	3,866	3,683	7,549	4,159	3,338	7,497	2,429	3,375	5,804	4,257	3,774	7,696
Operating Margin	13.89%	14.43%	19.21%	19.82%	18.85%	21.1%	19.66%	19.15%	16.8%	17.93%	18.21%	16.04%	17.18%	13.87%	17.13%	15.59%	20.61%	18.77%	18.87%
Earnings before Tax (EBT)	3,466	4,010	-	-	6,562	3,994	-	4,999	-	8,963	4,174	-	-	2,702	-	6,153	4,454	-	-
Net income	2,445	2,920	-	-	4,543	2,759	-	3,663	-	5,978	2,915	-	-	1,895	-	4,057	3,196	-	-
Net margin	10.05%	11.09%	-	-	13.76%	14.82%	-	18.15%	-	14.2%	12.77%	-	-	10.82%	-	10.9%	15.47%	-	-
EPS	135.8	164.9	-	-	261.6	160.0	-	217.6	-	358.9	177.1	-	-	115.4	-	248.8	197.6	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/11/19	11/11/20	5/14/21	11/11/21	11/11/21	2/10/22	5/13/22	8/8/22	11/11/22	11/11/22	2/10/23	5/12/23	5/12/23	8/9/23	11/13/23	11/13/23	2/9/24	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	33,367	25,697	29,751	29,988	31,519	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	6,290	-4,807	7,392	2,724	7,224	-	-	-
ROE (net income / shareholders' equity)	9.5%	8.6%	10.7%	13.1%	12.9%	-	-	-
ROA (Net income/ Total Assets)	11.3%	10%	12.1%	15.7%	15.2%	-	-	-
Assets ¹	50,154	53,464	59,001	61,739	69,422	-	-	-
Book Value Per Share ²	3,396	3,601	3,929	4,567	5,125	5,477	6,109	6,642
Cash Flow per Share	428.0	419.0	520.0	670.0	759.0	-	-	-
Capex ¹	2,084	2,115	1,285	3,341	6,238	8,017	4,000	4,000
Capex / Sales	4.01%	4.05%	2.3%	4.62%	7.27%	10.28%	4.82%	4.57%
Announcement Date	5/13/19	5/14/20	5/14/21	5/13/22	5/12/23	-	-	-

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

Ratings for C.Uyemura & Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

10,380 JPY

Average target price

10,000 JPY

Spread / Average Target

-3.66%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Commodity Chemicals

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LYONDELLBASELL INDUSTRIES N.V.	+7.41%	33.24B
WESTLAKE CORPORATION	+6.85%	19.22B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+12.86%	16.83B
RONGSHENG PETROCHEMICAL CO., LTD.	+7.73%	15.03B
HENGLI PETROCHEMICAL CO.,LTD.	+16.93%	14.96B

Other Commodity Chemicals