DAICEL CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,448 JPY | 0.00% |
|
+4.14% | +5.97% |
| Mar. 27 | Daicel Corp. Completes 15 Billion Yen Buyback Program | MT |
| Mar. 26 | Tranche Update on Daicel Corporation's Equity Buyback Plan announced on November 2, 2023. | CI |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 397,739 | 247,353 | 256,736 | 241,595 | 285,636 | 399,246 | - | - |
| Enterprise Value (EV) 1 | 381,758 | 255,411 | 432,798 | 431,569 | 509,628 | 646,307 | 636,486 | 606,854 |
| P/E ratio | 11.4 x | 50.9 x | 13.1 x | 7.85 x | 7.2 x | 7.44 x | 8.01 x | 7.18 x |
| Yield | 2.66% | 4.31% | 3.76% | 4.16% | 3.8% | 3.4% | 3.58% | 3.87% |
| Capitalization / Revenue | 0.86 x | 0.6 x | 0.65 x | 0.52 x | 0.53 x | 0.71 x | 0.66 x | 0.63 x |
| EV / Revenue | 0.82 x | 0.62 x | 1.1 x | 0.92 x | 0.95 x | 1.15 x | 1.06 x | 0.96 x |
| EV / EBITDA | 4.7 x | 4.33 x | 7.38 x | 5.47 x | 6.44 x | 6.38 x | 5.61 x | 5.05 x |
| EV / FCF | 27.6 x | 26.5 x | 18.3 x | -122 x | -17.3 x | -114 x | 25.8 x | 18.1 x |
| FCF Yield | 3.62% | 3.77% | 5.46% | -0.82% | -5.78% | -0.88% | 3.88% | 5.51% |
| Price to Book | 1 x | 0.68 x | 1.08 x | 0.89 x | 0.97 x | 1.25 x | 1.12 x | 1.01 x |
| Nbr of stocks (in thousands) | 330,898 | 313,502 | 301,333 | 295,709 | 285,636 | 275,817 | - | - |
| Reference price 2 | 1,202 | 789.0 | 852.0 | 817.0 | 1,000 | 1,448 | 1,448 | 1,448 |
| Announcement Date | 5/9/19 | 5/27/20 | 5/12/21 | 5/11/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 464,859 | 412,826 | 393,568 | 467,937 | 538,026 | 560,343 | 601,988 | 631,929 |
| EBITDA 1 | 81,200 | 59,040 | 58,634 | 78,892 | 79,083 | 101,225 | 113,431 | 120,277 |
| EBIT 1 | 51,171 | 29,644 | 31,723 | 50,697 | 47,508 | 62,371 | 66,506 | 73,529 |
| Operating Margin | 11.01% | 7.18% | 8.06% | 10.83% | 8.83% | 11.13% | 11.05% | 11.64% |
| Earnings before Tax (EBT) 1 | 53,734 | 16,656 | 33,040 | 46,283 | 54,967 | 72,675 | 71,286 | 78,200 |
| Net income 1 | 35,301 | 4,978 | 19,713 | 31,254 | 40,682 | 55,029 | 50,518 | 55,079 |
| Net margin | 7.59% | 1.21% | 5.01% | 6.68% | 7.56% | 9.82% | 8.39% | 8.72% |
| EPS 2 | 105.4 | 15.49 | 65.18 | 104.1 | 138.9 | 194.6 | 180.7 | 201.5 |
| Free Cash Flow 1 | 13,829 | 9,625 | 23,649 | -3,535 | -29,461 | -5,669 | 24,674 | 33,441 |
| FCF margin | 2.97% | 2.33% | 6.01% | -0.76% | -5.48% | -1.01% | 4.1% | 5.29% |
| FCF Conversion (EBITDA) | 17.03% | 16.3% | 40.33% | - | - | - | 21.75% | 27.8% |
| FCF Conversion (Net income) | 39.17% | 193.35% | 119.97% | - | - | - | 48.84% | 60.72% |
| Dividend per Share 2 | 32.00 | 34.00 | 32.00 | 34.00 | 38.00 | 49.25 | 51.75 | 56.00 |
| Announcement Date | 5/9/19 | 5/27/20 | 5/12/21 | 5/11/22 | 5/11/23 | - | - | - |
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 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 210,681 | 202,145 | 175,346 | 218,222 | 113,459 | 224,817 | 118,162 | 124,958 | 243,120 | 127,981 | 138,219 | 266,200 | 138,281 | 133,513 | 271,794 | 130,800 | 140,200 | 271,000 | 143,300 | 148,408 | 292,500 | 153,500 | 155,000 | 308,500 | 157,500 | 164,000 | 321,500 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | 40,300 | - | - | - | - | - | 41,900 | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 17,858 | 11,786 | 9,107 | 22,616 | 13,315 | 27,259 | 12,022 | 11,416 | 23,438 | 12,989 | 13,011 | 26,000 | 10,540 | 10,942 | 21,482 | 9,100 | 17,500 | 26,600 | 17,900 | 18,404 | 35,400 | 16,500 | 16,500 | 33,000 | 17,000 | 18,000 | 35,000 |
| Operating Margin | 8.48% | 5.83% | 5.19% | 10.36% | 11.74% | 12.12% | 10.17% | 9.14% | 9.64% | 10.15% | 9.41% | 9.77% | 7.62% | 8.2% | 7.9% | 6.96% | 12.48% | 9.82% | 12.49% | 12.4% | 12.1% | 10.75% | 10.65% | 10.7% | 10.79% | 10.98% | 10.89% |
| Earnings before Tax (EBT) | 20,434 | - | 8,397 | 24,643 | 14,471 | 29,592 | 3,634 | - | - | 14,603 | - | 32,471 | 9,637 | 12,859 | 22,496 | 20,438 | - | 40,070 | 18,742 | - | - | - | - | - | - | - | - |
| Net income 1 | 11,683 | -6,705 | 3,273 | 16,440 | 9,763 | 22,046 | 1,456 | 7,752 | 9,208 | 8,903 | 13,297 | 22,200 | 7,338 | 11,134 | 18,472 | 15,000 | 14,800 | 29,800 | 14,400 | 12,500 | 25,550 | 12,700 | 12,600 | 25,300 | 13,100 | 15,200 | 28,300 |
| Net margin | 5.55% | -3.32% | 1.87% | 7.53% | 8.6% | 9.81% | 1.23% | 6.2% | 3.79% | 6.96% | 9.62% | 8.34% | 5.31% | 8.34% | 6.8% | 11.47% | 10.56% | 11% | 10.05% | 8.42% | 8.74% | 8.27% | 8.13% | 8.2% | 8.32% | 9.27% | 8.8% |
| EPS 2 | 35.96 | - | 10.78 | - | 32.39 | 73.15 | 4.870 | 26.12 | - | 30.11 | 44.97 | 75.08 | 25.10 | 38.69 | - | 52.46 | 51.67 | 104.1 | 51.29 | 42.10 | - | - | - | - | - | - | - |
| Dividend per Share | 16.00 | - | 16.00 | - | - | 16.00 | - | - | - | - | - | 18.00 | - | - | - | - | - | 25.00 | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/1/19 | 5/27/20 | 11/6/20 | 5/12/21 | 11/5/21 | 11/5/21 | 2/2/22 | 5/11/22 | 5/11/22 | 8/4/22 | 11/2/22 | 11/2/22 | 2/2/23 | 5/11/23 | 5/11/23 | 8/3/23 | 11/2/23 | 11/2/23 | 2/6/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 8,058 | 176,062 | 189,974 | 223,992 | 247,061 | 237,241 | 207,608 |
| Net Cash position 1 | 15,981 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.1365 x | 3.003 x | 2.408 x | 2.832 x | 2.441 x | 2.092 x | 1.726 x |
| Free Cash Flow 1 | 13,829 | 9,625 | 23,649 | -3,535 | -29,461 | -5,669 | 24,674 | 33,441 |
| ROE (net income / shareholders' equity) | 9.1% | 1.3% | 6.6% | 12.3% | 14.3% | 18.3% | 14.4% | 14.1% |
| ROA (Net income/ Total Assets) | 8.23% | 5.07% | 5.6% | 8.56% | 7.11% | 8.48% | 8.48% | 8.21% |
| Assets 1 | 429,055 | 98,115 | 351,932 | 365,293 | 572,465 | 648,922 | 595,731 | 670,872 |
| Book Value Per Share 2 | 1,199 | 1,167 | 789.0 | 920.0 | 1,034 | 1,156 | 1,296 | 1,434 |
| Cash Flow per Share 2 | 196.0 | 107.0 | 152.0 | 196.0 | 246.0 | 370.0 | 281.0 | - |
| Capex 1 | 44,694 | 47,568 | 39,555 | 40,840 | 56,308 | 85,000 | 62,500 | 56,250 |
| Capex / Sales | 9.61% | 11.52% | 10.05% | 8.73% | 10.47% | 15.17% | 10.38% | 8.9% |
| Announcement Date | 5/9/19 | 5/27/20 | 5/12/21 | 5/11/22 | 5/11/23 | - | - | - |
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
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
1,448
JPY
Average target price
1,686
JPY
Spread / Average Target
+16.49%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +5.97% | 2.54B | |
| -25.15% | 20.6B | |
| -14.52% | 13.21B | |
| -8.94% | 9.69B | |
| -13.48% | 9.66B | |
| +7.20% | 6.61B | |
| +3.01% | 6.42B | |
| -30.31% | 5.29B | |
| -21.00% | 3.3B | |
| -34.73% | 3.06B |
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