Financials DMG Mori Co., Ltd.

Equities

6141

JP3924800000

Industrial Machinery & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
4,167 ^JPY	+0.41%		+0.12%	+54.30%

Apr. 26	DMG Mori Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2024	CI
Apr. 15	DMG Mori Completes Conversion of 38.59 Billion Yen Zero Coupon Convertible Bonds	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	206,136	193,903	246,892	220,214	338,698	589,305	-	-
Enterprise Value (EV) ¹	287,136	262,553	294,986	274,314	413,147	663,691	646,149	624,812
P/E ratio	12.2 x	461 x	21.5 x	9.3 x	10.5 x	15.5 x	13.7 x	12.1 x
Yield	3.55%	1.27%	2.02%	3.99%	3.33%	2.4%	2.45%	2.66%
Capitalization / Revenue	0.42 x	0.59 x	0.62 x	0.46 x	0.62 x	1.09 x	1.02 x	0.97 x
EV / Revenue	0.59 x	0.8 x	0.74 x	0.57 x	0.75 x	1.23 x	1.12 x	1.03 x
EV / EBITDA	4.75 x	7.55 x	6.56 x	4.21 x	5.12 x	7.5 x	6.66 x	5.93 x
EV / FCF	12.8 x	-40.4 x	9.72 x	11 x	27.8 x	33.4 x	19.7 x	17 x
FCF Yield	7.83%	-2.47%	10.3%	9.07%	3.6%	2.99%	5.08%	5.88%
Price to Book	1.68 x	1.05 x	1.16 x	0.9 x	1.27 x	1.72 x	1.58 x	1.44 x
Nbr of stocks (in thousands)	121,974	123,584	124,882	125,478	125,420	141,422	-	-
Reference price ²	1,690	1,569	1,977	1,755	2,700	4,167	4,167	4,167
Announcement Date	2/14/20	2/12/21	2/10/22	2/8/23	2/5/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	485,778	328,283	396,011	483,366	548,529	541,500	579,200	607,200
EBITDA ¹	60,418	34,792	44,961	65,229	80,668	88,537	96,992	105,442
EBIT ¹	37,339	10,674	23,067	41,213	54,150	59,208	66,462	73,738
Operating Margin	7.69%	3.25%	5.82%	8.53%	9.87%	10.93%	11.47%	12.14%
Earnings before Tax (EBT) ¹	31,451	5,106	19,609	36,528	47,927	53,367	59,967	67,333
Net income ¹	17,995	1,745	13,460	25,406	33,944	36,602	41,751	46,964
Net margin	3.7%	0.53%	3.4%	5.26%	6.19%	6.76%	7.21%	7.73%
EPS ²	138.6	3.400	91.75	188.6	256.7	269.1	304.9	344.6
Free Cash Flow ¹	22,469	-6,496	30,357	24,875	14,878	19,846	32,837	36,766
FCF margin	4.63%	-1.98%	7.67%	5.15%	2.71%	3.67%	5.67%	6.06%
FCF Conversion (EBITDA)	37.19%	-	67.52%	38.13%	18.44%	22.42%	33.86%	34.87%
FCF Conversion (Net income)	124.86%	-	225.53%	97.91%	43.83%	54.22%	78.65%	78.29%
Dividend per Share ²	60.00	20.00	40.00	70.00	90.00	100.0	102.0	111.0
Announcement Date	2/14/20	2/12/21	2/10/22	2/8/23	2/5/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1
Net sales ¹	154,344	178,246	96,025	121,740	107,300	110,907	218,207	114,825	150,334	265,159	123,225	126,313	249,538	139,631	159,360	291,615	132,851
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,429	10,208	6,525	6,334	9,500	8,188	17,688	9,067	14,458	23,525	9,695	12,863	22,558	13,057	18,535	31,592	10,772
Operating Margin	1.57%	5.73%	6.8%	5.2%	8.85%	7.38%	8.11%	7.9%	9.62%	8.87%	7.87%	10.18%	9.04%	9.35%	11.63%	10.83%	8.11%
Earnings before Tax (EBT) ¹	-559	8,544	5,635	5,430	8,900	7,373	16,273	8,036	12,219	-	8,480	11,216	19,696	11,715	-	-	9,268
Net income ¹	-2,153	6,097	3,783	3,580	6,300	4,996	11,296	5,280	8,830	-	6,297	8,612	14,909	8,111	-	-	-8,661
Net margin	-1.39%	3.42%	3.94%	2.94%	5.87%	4.5%	5.18%	4.6%	5.87%	-	5.11%	6.82%	5.97%	5.81%	-	-	-6.52%
EPS ²	-21.87	40.57	26.06	-	46.66	-	83.23	38.54	-	-	46.70	-	111.9	61.08	-	-	-72.26
Dividend per Share	10.00	10.00	-	-	-	-	30.00	-	-	-	-	-	-	-	-	-	-
Announcement Date	8/27/20	8/5/21	11/5/21	2/10/22	5/12/22	8/4/22	8/4/22	11/7/22	2/8/23	2/8/23	5/10/23	8/3/23	8/3/23	10/25/23	2/5/24	2/5/24	4/26/24

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	81,000	68,650	48,094	54,100	74,449	74,386	56,844	35,507
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.341 x	1.973 x	1.07 x	0.8294 x	0.9229 x	0.8402 x	0.5861 x	0.3367 x
Free Cash Flow ¹	22,469	-6,496	30,357	24,875	14,878	19,846	32,837	36,766
ROE (net income / shareholders' equity)	15.3%	1.1%	6.8%	11.1%	13.2%	13%	13.7%	14.3%
ROA (Net income/ Total Assets)	5.97%	0.97%	3.49%	5.72%	4.69%	5.4%	6%	6.4%
Assets ¹	301,251	179,615	385,646	444,247	723,074	677,820	695,844	733,809
Book Value Per Share ²	1,008	1,494	1,704	1,958	2,135	2,428	2,641	2,888
Cash Flow per Share	337.0	210.0	284.0	394.0	482.0	-	-	-
Capex ¹	21,178	20,143	23,251	41,112	36,730	30,000	31,250	31,250
Capex / Sales	4.36%	6.14%	5.87%	8.51%	6.7%	5.54%	5.4%	5.15%
Announcement Date	2/14/20	2/12/21	2/10/22	2/8/23	2/5/24	-	-	-

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

Ratings for DMG Mori Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4,167 JPY

Average target price

3,825 JPY

Spread / Average Target

-8.21%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Machine Tools

	1st Jan change	Capi.
DMG MORI CO., LTD.	+54.30%	3.74B
NINGBO HAITIAN PRECISION MACHINERY CO.,LTD.	+8.22%	2.04B
SHENYANG MACHINE TOOL CO., LTD.	+0.43%	1.99B
KENNAMETAL INC.	-6.79%	1.91B
SHENZHEN YINGHE TECHNOLOGY CO., LTD	-16.05%	1.38B
GUANGDONG CREATE CENTURY INTELLIGENT EQUIPMENT GROUP CORPORATION LIMITED	-5.37%	1.38B
OKUMA CORPORATION	+15.70%	1.36B
QINGDAO GAOCE TECHNOLOGY CO., LTD	-28.65%	1.3B
QINCHUAN MACHINE TOOL & TOOL GROUP SHARE CO., LTD.	-17.02%	1.24B
OSG CORPORATION	-0.74%	1.18B

Machine Tools