HITACHI ZOSEN CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,205 JPY | +0.67% |
|
-0.66% | +28.60% |
| Mar. 14 | Hitachi Zosen, Nippon Yusen's Ammonia-Fueled Ship Project Gets Japan Backing | MT |
| Feb. 27 | Earnings, Wall Street Cues Leave Asian Stock Markets Mixed | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 57,306 | 58,653 | 150,841 | 125,725 | 145,946 | 203,071 | - | - |
| Enterprise Value (EV) 1 | 146,606 | 115,302 | 211,521 | 150,405 | 146,007 | 195,271 | 189,071 | 182,371 |
| P/E ratio | 10.5 x | 26.7 x | 35.4 x | 15.9 x | 9.37 x | 13.7 x | 12 x | 10.7 x |
| Yield | 3.53% | 3.45% | 1.34% | 1.61% | 2.08% | 1.58% | 1.78% | 2.24% |
| Capitalization / Revenue | 0.15 x | 0.15 x | 0.37 x | 0.28 x | 0.3 x | 0.38 x | 0.37 x | 0.35 x |
| EV / Revenue | 0.39 x | 0.29 x | 0.52 x | 0.34 x | 0.3 x | 0.36 x | 0.34 x | 0.31 x |
| EV / EBITDA | 8.66 x | - | 8.07 x | - | 4.78 x | 5.83 x | 5.56 x | 5.07 x |
| EV / FCF | -9.88 x | 5.4 x | 23.9 x | 5.41 x | 5.72 x | -188 x | 21.2 x | 13.3 x |
| FCF Yield | -10.1% | 18.5% | 4.18% | 18.5% | 17.5% | -0.53% | 4.71% | 7.55% |
| Price to Book | 0.48 x | 0.5 x | 1.19 x | 0.96 x | 1.05 x | 1.34 x | 1.21 x | 1.11 x |
| Nbr of stocks (in thousands) | 168,547 | 168,543 | 168,537 | 168,532 | 168,528 | 168,523 | - | - |
| Reference price 2 | 340.0 | 348.0 | 895.0 | 746.0 | 866.0 | 1,205 | 1,205 | 1,205 |
| Announcement Date | 5/10/19 | 5/25/20 | 5/13/21 | 5/11/22 | 5/12/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 378,140 | 402,450 | 408,592 | 441,797 | 492,692 | 536,767 | 556,333 | 583,633 |
| EBITDA 1 | 16,926 | - | 26,200 | - | 30,571 | 33,500 | 34,000 | 36,000 |
| EBIT 1 | 7,358 | 13,891 | 15,396 | 15,541 | 20,056 | 23,067 | 26,033 | 29,033 |
| Operating Margin | 1.95% | 3.45% | 3.77% | 3.52% | 4.07% | 4.3% | 4.68% | 4.97% |
| Earnings before Tax (EBT) 1 | 6,720 | 3,600 | 6,868 | 11,873 | 18,526 | 20,350 | 23,700 | 26,700 |
| Net income 1 | 5,445 | 2,197 | 4,258 | 7,899 | 15,577 | 14,833 | 16,867 | 19,033 |
| Net margin | 1.44% | 0.55% | 1.04% | 1.79% | 3.16% | 2.76% | 3.03% | 3.26% |
| EPS 2 | 32.31 | 13.04 | 25.26 | 46.87 | 92.43 | 88.03 | 100.1 | 113.0 |
| Free Cash Flow 1 | -14,836 | 21,337 | 8,832 | 27,801 | 25,546 | -1,041 | 8,904 | 13,761 |
| FCF margin | -3.92% | 5.3% | 2.16% | 6.29% | 5.18% | -0.19% | 1.6% | 2.36% |
| FCF Conversion (EBITDA) | - | - | 33.71% | - | 83.56% | - | 26.19% | 38.22% |
| FCF Conversion (Net income) | - | 971.19% | 207.42% | 351.96% | 164% | - | 52.79% | 72.3% |
| Dividend per Share 2 | 12.00 | 12.00 | 12.00 | 12.00 | 18.00 | 19.00 | 21.50 | 27.00 |
| Announcement Date | 5/10/19 | 5/25/20 | 5/13/21 | 5/11/22 | 5/12/23 | - | - | - |
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 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 168,260 | 234,190 | 166,872 | 241,720 | 100,000 | 180,434 | 107,596 | 153,767 | 261,363 | 96,350 | 110,884 | 207,234 | 124,169 | 161,289 | 285,458 | 102,475 | 129,717 | 232,192 | 140,125 | 177,804 | 315,000 | 115,400 | 132,500 | 146,000 | 182,100 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | -6,333 | 20,224 | -1,301 | 16,697 | 613 | -1,415 | 4,011 | 12,945 | 16,956 | -924 | 1,072 | 148 | 5,676 | 14,232 | 19,908 | -3,324 | 4,440 | 1,116 | 8,395 | 16,042 | 23,200 | -500 | 2,500 | 8,000 | 17,600 |
| Operating Margin | -3.76% | 8.64% | -0.78% | 6.91% | 0.61% | -0.78% | 3.73% | 8.42% | 6.49% | -0.96% | 0.97% | 0.07% | 4.57% | 8.82% | 6.97% | -3.24% | 3.42% | 0.48% | 5.99% | 9.02% | 7.37% | -0.43% | 1.89% | 5.48% | 9.67% |
| Earnings before Tax (EBT) | -14,063 | - | -2,468 | - | -141 | -2,802 | 2,472 | 12,203 | - | -1,741 | -1,014 | -2,755 | 7,300 | 13,981 | - | -2,137 | 3,718 | 1,581 | 7,308 | - | - | -900 | 2,100 | 7,600 | 17,600 |
| Net income 1 | -10,625 | 12,822 | -1,983 | - | -412 | -3,061 | 1,680 | 9,280 | - | -2,020 | -1,186 | -3,206 | 5,707 | 13,076 | - | -1,886 | 2,236 | 350 | 5,608 | 11,050 | - | -2,600 | 400 | 5,900 | 15,400 |
| Net margin | -6.31% | 5.48% | -1.19% | - | -0.41% | -1.7% | 1.56% | 6.04% | - | -2.1% | -1.07% | -1.55% | 4.6% | 8.11% | - | -1.84% | 1.72% | 0.15% | 4% | 6.21% | - | -2.25% | 0.3% | 4.04% | 8.46% |
| EPS | -63.04 | - | -11.77 | - | - | -18.17 | 9.970 | - | - | -11.99 | - | -19.02 | 33.86 | - | - | -11.19 | - | 2.080 | 33.28 | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/31/19 | 5/25/20 | 11/4/20 | 5/13/21 | 11/1/21 | 11/1/21 | 2/7/22 | 5/11/22 | 5/11/22 | 8/1/22 | 11/7/22 | 11/7/22 | 2/6/23 | 5/12/23 | 5/12/23 | 8/1/23 | 11/6/23 | 11/6/23 | 2/5/24 | - | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 89,300 | 56,649 | 60,680 | 24,680 | 61 | - | - | - |
| Net Cash position 1 | - | - | - | - | - | 7,800 | 14,000 | 20,700 |
| Leverage (Debt/EBITDA) | 5.276 x | - | 2.316 x | - | 0.001995 x | - | - | - |
| Free Cash Flow 1 | -14,836 | 21,337 | 8,832 | 27,801 | 25,546 | -1,041 | 8,904 | 13,761 |
| ROE (net income / shareholders' equity) | 4.6% | 1.9% | 3.5% | 6.1% | 11.5% | 10.1% | 11.2% | 11.7% |
| ROA (Net income/ Total Assets) | 1.64% | 2.25% | 2.81% | 2.65% | 3.79% | 3.6% | 4.2% | 4.6% |
| Assets 1 | 332,574 | 97,695 | 151,454 | 298,482 | 410,887 | 412,037 | 401,587 | 413,768 |
| Book Value Per Share 2 | 709.0 | 700.0 | 750.0 | 779.0 | 828.0 | 902.0 | 996.0 | 1,086 |
| Cash Flow per Share | 85.40 | 72.90 | 86.00 | 110.0 | 155.0 | - | - | - |
| Capex 1 | 9,408 | 11,471 | 11,931 | 9,559 | 8,642 | 11,000 | 11,500 | 11,750 |
| Capex / Sales | 2.49% | 2.85% | 2.92% | 2.16% | 1.75% | 2.05% | 2.07% | 2.01% |
| Announcement Date | 5/10/19 | 5/25/20 | 5/13/21 | 5/11/22 | 5/12/23 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
1,205
JPY
Average target price
1,103
JPY
Spread / Average Target
-8.44%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +28.60% | 1.29B | |
| +11.73% | 82.35B | |
| +20.17% | 71.09B | |
| +20.89% | 37.73B | |
| +15.77% | 32.01B | |
| +9.19% | 27.2B | |
| +3.18% | 26.74B | |
| +4.22% | 26B | |
| +16.93% | 25.5B | |
| +17.14% | 24.76B |
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