DAIKIN INDUSTRIES, LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 21,160 JPY | +3.73% |
|
+10.12% | -7.94% |
| Apr. 09 | Arkema sites visited by investigators, chemicals group says | RE |
| Apr. 01 | Jefferies Adjusts Daikin Industries' Price Target to 20,600 Yen From 21,000 Yen Keeps at Hold | MT |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,793,580 | 3,853,208 | 6,531,782 | 6,558,960 | 6,924,323 | 6,194,691 | - | - |
| Enterprise Value (EV) 1 | 4,011,438 | 4,036,218 | 6,546,894 | 6,566,155 | 7,194,288 | 6,403,084 | 6,242,509 | 6,124,671 |
| P/E ratio | 20.1 x | 22.6 x | 41.8 x | 30.1 x | 26.9 x | 24.5 x | 22.4 x | 19.9 x |
| Yield | 1.23% | 1.21% | 0.72% | 0.89% | 1.01% | 1.15% | 1.23% | 1.38% |
| Capitalization / Revenue | 1.53 x | 1.51 x | 2.62 x | 2.11 x | 1.74 x | 1.45 x | 1.39 x | 1.32 x |
| EV / Revenue | 1.62 x | 1.58 x | 2.63 x | 2.11 x | 1.81 x | 1.5 x | 1.4 x | 1.31 x |
| EV / EBITDA | 10.7 x | 11.1 x | 19.1 x | 15.2 x | 12.9 x | 11 x | 9.92 x | 8.87 x |
| EV / FCF | 24.6 x | 23.7 x | 27.5 x | 102 x | -101 x | 40.7 x | 35.3 x | 31 x |
| FCF Yield | 4.06% | 4.22% | 3.63% | 0.98% | -0.99% | 2.46% | 2.83% | 3.23% |
| Price to Book | 2.68 x | 2.69 x | 3.92 x | 3.33 x | 3.1 x | 2.53 x | 2.34 x | 2.15 x |
| Nbr of stocks (in thousands) | 292,489 | 292,575 | 292,643 | 292,680 | 292,721 | 292,755 | - | - |
| Reference price 2 | 12,970 | 13,170 | 22,320 | 22,410 | 23,655 | 21,160 | 21,160 | 21,160 |
| Announcement Date | 5/9/19 | 5/12/20 | 5/11/21 | 5/10/22 | 5/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,481,109 | 2,550,305 | 2,493,386 | 3,109,106 | 3,981,578 | 4,279,635 | 4,447,195 | 4,684,213 |
| EBITDA 1 | 375,569 | 363,315 | 342,166 | 431,728 | 559,256 | 583,024 | 629,335 | 690,506 |
| EBIT 1 | 276,254 | 265,513 | 238,623 | 316,350 | 377,032 | 390,718 | 421,706 | 470,944 |
| Operating Margin | 11.13% | 10.41% | 9.57% | 10.17% | 9.47% | 9.13% | 9.48% | 10.05% |
| Earnings before Tax (EBT) 1 | 275,310 | 256,180 | 238,543 | 328,056 | 373,384 | 372,549 | 399,912 | 451,480 |
| Net income 1 | 189,048 | 170,731 | 156,249 | 217,709 | 257,754 | 252,840 | 276,805 | 311,471 |
| Net margin | 7.62% | 6.69% | 6.27% | 7% | 6.47% | 5.91% | 6.22% | 6.65% |
| EPS 2 | 646.4 | 583.6 | 534.0 | 743.9 | 880.6 | 864.9 | 945.0 | 1,064 |
| Free Cash Flow 1 | 162,848 | 170,212 | 237,706 | 64,282 | -70,897 | 157,214 | 176,674 | 197,842 |
| FCF margin | 6.56% | 6.67% | 9.53% | 2.07% | -1.78% | 3.67% | 3.97% | 4.22% |
| FCF Conversion (EBITDA) | 43.36% | 46.85% | 69.47% | 14.89% | - | 26.97% | 28.07% | 28.65% |
| FCF Conversion (Net income) | 86.14% | 99.7% | 152.13% | 29.53% | - | 62.18% | 63.83% | 63.52% |
| Dividend per Share 2 | 160.0 | 160.0 | 160.0 | 200.0 | 240.0 | 243.3 | 260.3 | 292.9 |
| Announcement Date | 5/9/19 | 5/12/20 | 5/11/21 | 5/10/22 | 5/9/23 | - | - | - |
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 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,354,201 | 1,196,104 | 1,229,249 | 1,264,137 | 759,888 | 1,558,863 | 743,076 | 807,167 | 1,550,243 | 967,755 | 1,052,035 | 2,019,790 | 965,877 | 995,911 | 1,961,788 | 1,094,715 | 1,130,439 | 2,225,154 | 1,038,498 | 1,010,024 | - | 1,104,500 | 1,152,500 | - | 1,100,200 | 1,121,800 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 168,291 | 97,222 | 131,627 | 106,996 | 83,452 | 192,706 | 66,795 | 56,849 | 123,644 | 107,860 | 113,794 | 221,654 | 82,103 | 73,275 | 155,378 | 117,884 | 117,862 | 235,746 | 70,744 | 81,705 | - | 118,500 | 120,500 | - | 84,000 | 85,000 | - | - | - |
| Operating Margin | 12.43% | 8.13% | 10.71% | 8.46% | 10.98% | 12.36% | 8.99% | 7.04% | 7.98% | 11.15% | 10.82% | 10.97% | 8.5% | 7.36% | 7.92% | 10.77% | 10.43% | 10.59% | 6.81% | 8.09% | - | 10.73% | 10.46% | - | 7.63% | 7.58% | - | - | - |
| Earnings before Tax (EBT) 1 | 170,297 | 85,883 | 131,574 | - | 85,668 | 197,112 | 68,348 | 62,596 | - | 110,120 | 119,105 | 229,225 | 76,214 | 67,945 | - | 117,804 | 108,138 | 225,942 | 59,590 | 75,100 | - | - | - | - | - | - | - | - | - |
| Net income 1 | 118,513 | 52,218 | 84,608 | 71,641 | 60,470 | 139,098 | 39,625 | 38,986 | 78,611 | 70,551 | 85,844 | 156,395 | 52,557 | 48,802 | 101,359 | 80,258 | 72,746 | 153,004 | 40,846 | 58,075 | - | 79,500 | 80,500 | - | 54,000 | 56,000 | - | - | - |
| Net margin | 8.75% | 4.37% | 6.88% | 5.67% | 7.96% | 8.92% | 5.33% | 4.83% | 5.07% | 7.29% | 8.16% | 7.74% | 5.44% | 4.9% | 5.17% | 7.33% | 6.44% | 6.88% | 3.93% | 5.75% | - | 7.2% | 6.98% | - | 4.91% | 4.99% | - | - | - |
| EPS 2 | 405.1 | - | 289.2 | 244.8 | 206.6 | 475.3 | 135.4 | 133.2 | 268.6 | 241.0 | 293.3 | 534.3 | 179.5 | 166.7 | 346.3 | 274.2 | 248.5 | 522.7 | 139.5 | 175.5 | - | - | - | - | - | - | - | - | - |
| Dividend per Share | 80.00 | 80.00 | 80.00 | 80.00 | 90.00 | 90.00 | - | 110.0 | 110.0 | - | 100.0 | 100.0 | - | 140.0 | 140.0 | - | 120.0 | 120.0 | - | - | 120.0 | - | - | 120.0 | - | - | 150.0 | 140.0 | 180.0 |
| Announcement Date | 11/6/19 | 5/12/20 | 11/5/20 | 5/11/21 | 11/4/21 | 11/4/21 | 2/7/22 | 5/10/22 | 5/10/22 | 8/2/22 | 11/8/22 | 11/8/22 | 2/7/23 | 5/9/23 | 5/9/23 | 8/8/23 | 11/7/23 | 11/7/23 | 2/6/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 217,858 | 183,010 | 15,112 | 7,195 | 269,965 | 208,393 | 47,818 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 70,020 |
| Leverage (Debt/EBITDA) | 0.5801 x | 0.5037 x | 0.0442 x | 0.0167 x | 0.4827 x | 0.3574 x | 0.076 x | - |
| Free Cash Flow 1 | 162,848 | 170,212 | 237,706 | 64,282 | -70,897 | 157,214 | 176,674 | 197,842 |
| ROE (net income / shareholders' equity) | 13.9% | 12% | 10.1% | 12% | 12.3% | 10.9% | 10.9% | 11.4% |
| ROA (Net income/ Total Assets) | 10.7% | 10% | 8.13% | 9.27% | 9.01% | 5.92% | 6.15% | 6.51% |
| Assets 1 | 1,770,860 | 1,703,470 | 1,920,911 | 2,347,849 | 2,860,028 | 4,272,812 | 4,497,952 | 4,783,980 |
| Book Value Per Share 2 | 4,841 | 4,904 | 5,692 | 6,730 | 7,635 | 8,364 | 9,056 | 9,834 |
| Cash Flow per Share 2 | 894.0 | 918.0 | 888.0 | 1,138 | 1,368 | 1,575 | 1,658 | 1,759 |
| Capex 1 | 87,161 | 131,954 | 136,985 | 156,371 | 250,286 | 314,963 | 282,666 | 258,500 |
| Capex / Sales | 3.51% | 5.17% | 5.49% | 5.03% | 6.29% | 7.36% | 6.36% | 5.52% |
| Announcement Date | 5/9/19 | 5/12/20 | 5/11/21 | 5/10/22 | 5/9/23 | - | - | - |
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
14
Last Close Price
21,160
JPY
Average target price
24,246
JPY
Spread / Average Target
+14.58%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.94% | 39.35B | |
| +24.86% | 69.15B | |
| +5.31% | 54.51B | |
| +12.96% | 44.37B | |
| +6.61% | 17B | |
| +3.44% | 16.3B | |
| +0.93% | 12.2B | |
| -27.20% | 9.48B | |
| +23.39% | 7.48B | |
| +48.69% | 5.77B |
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