JAPAN AIRPORT TERMINAL CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5,602 JPY | +3.93% |
|
+2.38% | -9.81% |
| Feb. 21 | Japan Airport Terminal Swings to Fiscal Q1-Q3 Profit | MT |
| Feb. 21 | Japan Airport Terminal Co., Ltd. Provides Dividend Guidance for the Fiscal Year End of 2023 | CI |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 379,744 | 339,128 | 489,039 | 520,634 | 614,701 | 521,749 | - | - |
| Enterprise Value (EV) 1 | 507,936 | 510,234 | 633,212 | 678,572 | 768,296 | 663,888 | 637,045 | 611,753 |
| P/E ratio | 11.5 x | 67.7 x | -12.2 x | -20.6 x | -158 x | 32.2 x | 28.4 x | 27 x |
| Yield | 0.96% | 0.77% | - | - | 0.24% | 0.93% | 1.09% | 1.13% |
| Capitalization / Revenue | 1.39 x | 1.36 x | 9.3 x | 9.12 x | 5.44 x | 2.4 x | 1.99 x | 1.87 x |
| EV / Revenue | 1.86 x | 2.04 x | 12 x | 11.9 x | 6.8 x | 3.05 x | 2.43 x | 2.19 x |
| EV / EBITDA | 10.8 x | 13.5 x | -25.7 x | -71.7 x | 41.7 x | 11.6 x | 10.1 x | 9.3 x |
| EV / FCF | 19.7 x | -10.1 x | -21.4 x | -47.7 x | 135 x | 37.9 x | 25.8 x | 24.5 x |
| FCF Yield | 5.08% | -9.91% | -4.68% | -2.1% | 0.74% | 2.64% | 3.88% | 4.09% |
| Price to Book | 2.32 x | 2.09 x | 2.85 x | 3.38 x | 4.09 x | 3.21 x | 2.98 x | 2.78 x |
| Nbr of stocks (in thousands) | 81,229 | 81,228 | 89,897 | 93,137 | 93,136 | 93,136 | - | - |
| Reference price 2 | 4,675 | 4,175 | 5,440 | 5,590 | 6,600 | 5,602 | 5,602 | 5,602 |
| Announcement Date | 5/10/19 | 6/4/20 | 5/7/21 | 5/12/22 | 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 | 273,618 | 249,756 | 52,572 | 57,057 | 113,050 | 217,802 | 262,481 | 279,066 |
| EBITDA 1 | 47,218 | 37,793 | -24,617 | -9,461 | 18,443 | 57,056 | 63,018 | 65,769 |
| EBIT 1 | 22,481 | 9,892 | -59,020 | -41,255 | -10,579 | 27,919 | 33,678 | 35,350 |
| Operating Margin | 8.22% | 3.96% | -112.27% | -72.3% | -9.36% | 12.82% | 12.83% | 12.67% |
| Earnings before Tax (EBT) 1 | 43,027 | 8,609 | -54,819 | -43,558 | -12,383 | 26,577 | 31,812 | 33,954 |
| Net income 1 | 33,004 | 5,012 | -36,578 | -25,217 | -3,901 | 15,988 | 18,366 | 19,337 |
| Net margin | 12.06% | 2.01% | -69.58% | -44.2% | -3.45% | 7.34% | 7% | 6.93% |
| EPS 2 | 406.3 | 61.71 | -445.9 | -270.8 | -41.89 | 173.9 | 197.3 | 207.3 |
| Free Cash Flow 1 | 25,799 | -50,560 | -29,655 | -14,231 | 5,699 | 17,512 | 24,719 | 25,016 |
| FCF margin | 9.43% | -20.24% | -56.41% | -24.94% | 5.04% | 8.04% | 9.42% | 8.96% |
| FCF Conversion (EBITDA) | 54.64% | - | - | - | 30.9% | 30.69% | 39.23% | 38.04% |
| FCF Conversion (Net income) | 78.17% | - | - | - | - | 109.53% | 134.59% | 129.36% |
| Dividend per Share 2 | 45.00 | 32.00 | - | - | 16.00 | 51.83 | 60.83 | 63.33 |
| Announcement Date | 5/10/19 | 6/4/20 | 5/7/21 | 5/12/22 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 135,270 | 114,486 | 22,293 | 30,279 | 13,904 | 25,896 | 16,694 | 14,467 | 31,161 | 19,371 | 24,242 | 43,613 | 32,414 | 37,023 | 69,437 | 45,996 | 54,152 | 100,148 | 58,871 | 59,254 | 118,852 |
| EBITDA | - | - | - | - | - | - | -1,137 | -2,371 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 11,156 | -1,264 | -32,266 | -26,754 | -10,728 | -21,896 | -9,067 | -10,363 | -19,430 | -6,201 | -3,072 | -9,273 | -52 | -1,254 | - | 5,520 | 7,988 | 13,508 | 9,827 | 5,077 | 14,492 |
| Operating Margin | 8.25% | -1.1% | -144.74% | -88.36% | -77.16% | -84.55% | -54.31% | -71.63% | -62.35% | -32.01% | -12.67% | -21.26% | -0.16% | -3.39% | - | 12% | 14.75% | 13.49% | 16.69% | 8.57% | 12.19% |
| Earnings before Tax (EBT) | 10,866 | -2,257 | -31,527 | - | -12,649 | -24,326 | -8,944 | -10,288 | -19,232 | -6,415 | -3,316 | -9,731 | -567 | -2,085 | -2,652 | 5,048 | 7,470 | 12,518 | 9,229 | - | - |
| Net income 1 | 5,945 | -933 | -22,879 | -13,699 | -7,349 | -14,478 | -4,848 | -5,891 | -10,739 | -2,651 | -690 | -3,341 | 754 | -1,314 | -560 | 3,534 | 4,700 | 8,234 | 5,891 | 2,875 | 8,766 |
| Net margin | 4.39% | -0.81% | -102.63% | -45.24% | -52.86% | -55.91% | -29.04% | -40.72% | -34.46% | -13.69% | -2.85% | -7.66% | 2.33% | -3.55% | -0.81% | 7.68% | 8.68% | 8.22% | 10.01% | 4.85% | 7.38% |
| EPS | 73.20 | - | -281.7 | - | -78.90 | -155.4 | -52.06 | - | - | -28.47 | -7.410 | -35.88 | 8.090 | - | - | 37.95 | - | 88.41 | 63.25 | - | - |
| Dividend per Share | 22.00 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 25.00 | - | - | - |
| Announcement Date | 11/8/19 | 6/4/20 | 11/5/20 | 5/7/21 | 11/5/21 | 11/5/21 | 2/2/22 | 5/12/22 | 5/12/22 | 8/3/22 | 11/9/22 | 11/9/22 | 2/8/23 | 5/11/23 | 5/11/23 | 8/9/23 | 11/8/23 | 11/8/23 | 2/7/24 | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 128,192 | 171,106 | 144,173 | 157,938 | 153,595 | 142,139 | 115,296 | 90,004 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.715 x | 4.527 x | -5.857 x | -16.69 x | 8.328 x | 2.491 x | 1.83 x | 1.368 x |
| Free Cash Flow 1 | 25,799 | -50,560 | -29,655 | -14,231 | 5,699 | 17,512 | 24,719 | 25,016 |
| ROE (net income / shareholders' equity) | 22.2% | 3.1% | -21.5% | -15.2% | -2.6% | 10.3% | 10.7% | 10.3% |
| ROA (Net income/ Total Assets) | 5.63% | 1.73% | -11% | -8.92% | -2.65% | 4.48% | 4.61% | 4.85% |
| Assets 1 | 586,386 | 289,612 | 332,008 | 282,599 | 147,263 | 356,567 | 398,037 | 398,957 |
| Book Value Per Share 2 | 2,012 | 2,002 | 1,911 | 1,655 | 1,614 | 1,746 | 1,883 | 2,019 |
| Cash Flow per Share 2 | 711.0 | 405.0 | -26.50 | 70.60 | 270.0 | 597.0 | 736.0 | 601.0 |
| Capex 1 | 58,123 | 70,782 | 9,282 | 5,289 | 12,083 | 28,071 | 30,600 | 25,200 |
| Capex / Sales | 21.24% | 28.34% | 17.66% | 9.27% | 10.69% | 12.89% | 11.66% | 9.03% |
| Announcement Date | 5/10/19 | 6/4/20 | 5/7/21 | 5/12/22 | 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
D
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
5,602
JPY
Average target price
7,433
JPY
Spread / Average Target
+32.69%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.81% | 3.31B | |
| +7.11% | 24.69B | |
| +3.02% | 5.37B | |
| -13.29% | 4.68B | |
| -1.77% | 4.48B | |
| +5.47% | 4.26B | |
| +8.18% | 3.46B | |
| 0.00% | 2.67B | |
| +13.27% | 2.25B | |
| +10.58% | 2.01B |
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- Financials Japan Airport Terminal Co., Ltd.
