Financials GNI Group Ltd.

Equities

2160

JP3386370005

Biotechnology & Medical Research

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
2,510 ^JPY	0.00%		+2.62%	-11.31%

Mar. 19	Jefferies Adjusts GNI Group’s Price Target to 4,100 Yen From 3,000 Yen, Keeps at Buy	MT
Feb. 14	GNI Group Ltd. Provides Consolidated Earnings Guidance for the Full Year Ending December 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	113,761	78,670	70,291	66,149	140,716	125,198	-	-
Enterprise Value (EV) ¹	108,122	70,094	57,064	55,636	122,782	125,198	125,198	125,198
P/E ratio	610 x	62.4 x	65.2 x	170 x	16.7 x	17.6 x	12 x	8.72 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	15.3 x	8.05 x	5.54 x	3.8 x	5.41 x	3.16 x	2.48 x	1.79 x
EV / Revenue	15.3 x	8.05 x	5.54 x	3.8 x	5.41 x	3.16 x	2.48 x	1.79 x
EV / EBITDA	-	-	35 x	34.8 x	10.3 x	7.39 x	5.87 x	4.28 x
EV / FCF	447,876,054 x	70,429,323 x	187,435,950 x	-114,049,527 x	-	-	-	-
FCF Yield	0%	0%	0%	-0%	-	-	-	-
Price to Book	10.6 x	7.15 x	3.73 x	3.15 x	4.17 x	-	-	-
Nbr of stocks (in thousands)	43,354	43,512	47,462	47,487	49,723	49,880	-	-
Reference price ²	2,624	1,808	1,481	1,393	2,830	2,510	2,510	2,510
Announcement Date	2/14/20	2/12/21	2/14/22	2/15/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	7,446	9,773	12,690	17,418	26,010	39,617	50,401	69,786
EBITDA ¹	-	-	2,008	1,900	13,717	16,951	21,345	29,224
EBIT ¹	1,302	1,869	1,624	1,377	13,108	16,337	20,725	28,597
Operating Margin	17.49%	19.12%	12.8%	7.91%	50.4%	41.24%	41.12%	40.98%
Earnings before Tax (EBT) ¹	1,197	1,805	1,107	767	12,612	15,603	19,991	27,863
Net income ¹	181	1,258	1,066	388	8,094	7,131	10,405	14,337
Net margin	2.43%	12.87%	8.4%	2.23%	31.12%	18%	20.64%	20.54%
EPS ²	4.300	28.96	22.72	8.190	169.5	143.0	209.0	288.0
Free Cash Flow	254	1,117	375	-580	-	-	-	-
FCF margin	3.41%	11.43%	2.96%	-3.33%	-	-	-	-
FCF Conversion (EBITDA)	-	-	18.68%	-	-	-	-	-
FCF Conversion (Net income)	140.33%	88.79%	35.18%	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	2/14/20	2/12/21	2/14/22	2/15/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q3	2022 Q1	2022 S1	2022 Q3	2023 Q1	2023 S1	2023 Q3	2023 S2
Net sales ¹	4,380	6,465	3,071	3,933	8,154	4,607	4,206	14,096	6,451	-
EBITDA	-	-	-	-	-	-	-	-	-	-
EBIT ¹	861	1,455	505	478	1,004	490	397	5,476	1,326	-
Operating Margin	19.66%	22.51%	16.44%	12.15%	12.31%	10.64%	9.44%	38.85%	20.55%	-
Earnings before Tax (EBT) ¹	817	1,197	371	347	790	433	-64	5,117	1,259	-
Net income ¹	244	941	353	351	676	400	-2	1,658	555	-
Net margin	5.57%	14.56%	11.49%	8.92%	8.29%	8.68%	-0.05%	11.76%	8.6%	-
EPS ²	5.630	20.30	7.390	7.400	14.25	8.420	-0.0600	34.93	11.68	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-
Announcement Date	8/14/20	8/13/21	11/15/21	5/16/22	8/15/22	11/14/22	5/15/23	8/14/23	11/14/23	2/14/24

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	5,639	8,576	13,227	10,513	17,934	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	254	1,117	375	-580	-	-	-	-
ROE (net income / shareholders' equity)	1.8%	11.6%	7.1%	2%	29.6%	-	-	-
ROA (Net income/ Total Assets)	6.35%	6.84%	4.14%	2.39%	26.2%	-	-	-
Assets ¹	2,851	18,386	25,766	16,239	30,901	-	-	-
Book Value Per Share	247.0	253.0	397.0	442.0	678.0	-	-	-
Cash Flow per Share	9.870	36.50	30.90	19.20	182.0	-	-	-
Capex ¹	534	260	379	973	1,273	1,311	1,351	1,391
Capex / Sales	7.17%	2.66%	2.99%	5.59%	4.89%	3.31%	2.68%	1.99%
Announcement Date	2/14/20	2/12/21	2/14/22	2/15/23	2/14/24	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for GNI Group Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,510 JPY

Average target price

4,100 JPY

Spread / Average Target

+63.35%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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