CHUGAI PHARMACEUTICAL CO., LTD |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,852 JPY | -0.16% |
|
-1.40% | -9.17% |
| Apr. 25 | Chugai Pharmaceutical's Parent Roche Logs Lower Q1 Sales; Stock Falls 5% | MT |
| Apr. 24 | Chugai Pharmaceutical's Profit Slightly Up in Q1 | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,518,359 | 9,045,924 | 6,141,311 | 5,540,406 | 8,789,053 | 7,983,063 | - | - |
| Enterprise Value (EV) 1 | 5,185,301 | 8,667,304 | 5,669,311 | 5,051,408 | 8,050,071 | 7,102,495 | 6,980,320 | 6,833,877 |
| P/E ratio | 35 x | 42.1 x | 20.3 x | 14.8 x | 27 x | 23.2 x | 21.7 x | 20.4 x |
| Yield | 1.39% | 1% | 2.03% | 2.32% | 1.5% | 1.74% | 1.84% | 1.89% |
| Capitalization / Revenue | 8.04 x | 11.5 x | 6.14 x | 4.4 x | 7.91 x | 7.31 x | 7.04 x | 6.78 x |
| EV / Revenue | 7.56 x | 11 x | 5.67 x | 4.01 x | 7.24 x | 6.51 x | 6.15 x | 5.8 x |
| EV / EBITDA | 22.5 x | 26.1 x | 12.3 x | 8.93 x | 17.1 x | 14.4 x | 13.6 x | 12.9 x |
| EV / FCF | 41.5 x | 81.2 x | 35.3 x | 27.7 x | 21.6 x | 20.9 x | 21.7 x | 19.9 x |
| FCF Yield | 2.41% | 1.23% | 2.83% | 3.61% | 4.63% | 4.79% | 4.61% | 5.03% |
| Price to Book | 6.46 x | 9.23 x | 5.17 x | 3.89 x | 5.41 x | 4.42 x | 3.76 x | 3.34 x |
| Nbr of stocks (in thousands) | 1,642,369 | 1,643,817 | 1,644,260 | 1,645,014 | 1,645,274 | 1,645,314 | - | - |
| Reference price 2 | 3,360 | 5,503 | 3,735 | 3,368 | 5,342 | 4,852 | 4,852 | 4,852 |
| Announcement Date | 1/30/20 | 2/4/21 | 2/3/22 | 2/2/23 | 2/1/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 686,184 | 786,900 | 999,800 | 1,259,946 | 1,111,367 | 1,091,346 | 1,134,578 | 1,177,952 |
| EBITDA 1 | 230,967 | 332,600 | 459,100 | 565,376 | 470,914 | 492,349 | 514,577 | 528,112 |
| EBIT 1 | 210,597 | 301,200 | 421,900 | 533,309 | 439,174 | 467,911 | 499,004 | 529,915 |
| Operating Margin | 30.69% | 38.28% | 42.2% | 42.33% | 39.52% | 42.87% | 43.98% | 44.99% |
| Earnings before Tax (EBT) 1 | 207,893 | 298,200 | 419,400 | 531,166 | 443,821 | 471,033 | 503,963 | 535,490 |
| Net income 1 | 157,560 | 214,700 | 303,000 | 374,429 | 325,472 | 345,245 | 368,453 | 392,430 |
| Net margin | 22.96% | 27.28% | 30.31% | 29.72% | 29.29% | 31.63% | 32.47% | 33.31% |
| EPS 2 | 95.95 | 130.7 | 184.3 | 227.6 | 197.8 | 209.5 | 223.5 | 238.1 |
| Free Cash Flow 1 | 124,900 | 106,723 | 160,699 | 182,312 | 372,635 | 340,431 | 321,522 | 343,677 |
| FCF margin | 18.2% | 13.56% | 16.07% | 14.47% | 33.53% | 31.19% | 28.34% | 29.18% |
| FCF Conversion (EBITDA) | 54.08% | 32.09% | 35% | 32.25% | 79.13% | 69.14% | 62.48% | 65.08% |
| FCF Conversion (Net income) | 79.27% | 49.71% | 53.04% | 48.69% | 114.49% | 98.61% | 87.26% | 87.58% |
| Dividend per Share 2 | 46.67 | 55.00 | 76.00 | 78.00 | 80.00 | 84.46 | 89.31 | 91.50 |
| Announcement Date | 1/30/20 | 2/4/21 | 2/3/22 | 2/2/23 | 2/1/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 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 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 365,899 | 368,120 | 390,229 | 287,264 | 322,300 | 360,554 | 235,600 | 596,200 | 225,300 | 438,446 | 312,240 | 267,417 | 579,657 | 257,898 | 273,812 | 236,900 | 277,386 | 521,000 | 275,285 | 295,945 | 259,000 | 545,000 |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 107,900 | 128,800 | - | 121,000 | 120,300 | - | - |
| EBIT 1 | 115,545 | 140,629 | 160,679 | 122,156 | 139,100 | 187,007 | 99,900 | 286,900 | 96,900 | 149,509 | 98,296 | 112,614 | 210,910 | 106,688 | 121,576 | 99,900 | 120,281 | 215,200 | 119,205 | 126,325 | 115,100 | 238,200 |
| Operating Margin | 31.58% | 38.2% | 41.18% | 42.52% | 43.16% | 51.87% | 42.4% | 48.12% | 43.01% | 34.1% | 31.48% | 42.11% | 36.39% | 41.37% | 44.4% | 42.17% | 43.36% | 41.31% | 43.3% | 42.69% | 44.44% | 43.71% |
| Earnings before Tax (EBT) 1 | 114,113 | 139,565 | 161,256 | 119,689 | 138,400 | 186,206 | 100,700 | 286,900 | 95,000 | 149,266 | 99,662 | 113,994 | 213,656 | 107,475 | 122,690 | 99,900 | 126,400 | 216,700 | 130,600 | 129,100 | 115,400 | 238,700 |
| Net income 1 | 88,306 | 102,293 | 118,137 | 86,017 | 98,800 | 131,775 | 72,400 | 204,200 | 67,800 | 102,429 | 73,500 | 83,193 | 156,693 | 77,573 | 91,206 | 74,400 | 89,295 | 157,450 | 89,681 | 91,632 | 85,900 | 175,700 |
| Net margin | 24.13% | 27.79% | 30.27% | 29.94% | 30.65% | 36.55% | 30.73% | 34.25% | 30.09% | 23.36% | 23.54% | 31.11% | 27.03% | 30.08% | 33.31% | 31.41% | 32.19% | 30.22% | 32.58% | 30.96% | 33.17% | 32.24% |
| EPS 2 | - | 62.26 | 71.86 | 52.31 | 60.11 | 80.14 | 44.00 | 124.1 | 41.21 | 62.29 | 44.68 | 50.57 | 95.25 | 47.15 | 55.43 | 45.22 | 52.88 | 96.50 | 54.37 | 59.93 | 52.20 | 106.8 |
| Dividend per Share | - | 25.00 | 30.00 | - | - | - | - | 38.00 | - | - | - | - | 40.00 | - | 40.00 | - | - | - | - | - | - | - |
| Announcement Date | 1/30/20 | 7/27/20 | 7/26/21 | 10/22/21 | 2/3/22 | 4/25/22 | 7/21/22 | 7/21/22 | 10/24/22 | 2/2/23 | 4/27/23 | 7/27/23 | 7/27/23 | 10/24/23 | 2/1/24 | 4/24/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 333,058 | 378,620 | 472,000 | 488,998 | 738,982 | 880,569 | 1,002,743 | 1,149,187 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 124,900 | 106,723 | 160,699 | 182,312 | 372,635 | 340,431 | 321,522 | 343,677 |
| ROE (net income / shareholders' equity) | 19.6% | 23.4% | 28% | 28.7% | 21.3% | 20.1% | 18.6% | 17.4% |
| ROA (Net income/ Total Assets) | 15.9% | 26% | 30.2% | 31.2% | 23.3% | 16.8% | 15.2% | 13.8% |
| Assets 1 | 989,232 | 826,007 | 1,002,158 | 1,201,341 | 1,394,192 | 2,050,962 | 2,417,668 | 2,847,826 |
| Book Value Per Share 2 | 520.0 | 596.0 | 723.0 | 866.0 | 988.0 | 1,099 | 1,289 | 1,455 |
| Cash Flow per Share 2 | 108.0 | 149.0 | 203.0 | 247.0 | 217.0 | 261.0 | 237.0 | 246.0 |
| Capex 1 | 53,009 | 57,040 | 65,969 | 61,800 | 71,948 | 66,072 | 67,548 | 68,635 |
| Capex / Sales | 7.73% | 7.25% | 6.6% | 4.9% | 6.47% | 6.05% | 5.95% | 5.83% |
| Announcement Date | 1/30/20 | 2/4/21 | 2/3/22 | 2/2/23 | 2/1/24 | - | - | - |
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
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
4,852
JPY
Average target price
6,044
JPY
Spread / Average Target
+24.56%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.17% | 50.71B | |
| +25.83% | 661B | |
| +27.00% | 566B | |
| -6.76% | 352B | |
| +20.34% | 332B | |
| +3.00% | 283B | |
| +13.09% | 231B | |
| +5.46% | 200B | |
| -9.61% | 195B | |
| -6.26% | 145B |
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