Financials Japan Electronic Materials Corporation

Equities

6855

JP3735300000

Semiconductor Equipment & Testing

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
2,601 ^JPY	+5.52%		+4.96%	+43.78%

2023	Japan Electronic Materials Corporation Reports Earnings Results for the Full Year Ended March 31, 2023	CI
2022	American Eagle, Abercrombie & Fitch Express Cautious Optimism For Holidays After Surpassing Quarterly Views	MT

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,031	8,609	21,484	26,500	19,154	32,848	-	-
Enterprise Value (EV) ¹	7,406	10,047	21,375	19,958	10,645	32,848	32,848	32,848
P/E ratio	8.68 x	8 x	10 x	6.76 x	7.33 x	82.1 x	46.9 x	25.3 x
Yield	1.51%	1.6%	0.79%	1.9%	2.63%	1.54%	1.54%	1.54%
Capitalization / Revenue	0.49 x	0.55 x	1.16 x	1.12 x	0.92 x	2.04 x	1.88 x	1.64 x
EV / Revenue	0.49 x	0.55 x	1.16 x	1.12 x	0.92 x	2.04 x	1.88 x	1.64 x
EV / EBITDA	-	5,211,331 x	5,980,941 x	-	-	-	-	-
EV / FCF	12.9 x	-4.87 x	42.9 x	-	-	28.1 x	-63.2 x	62 x
FCF Yield	7.77%	-20.5%	2.33%	-	-	3.56%	-1.58%	1.61%
Price to Book	0.63 x	0.71 x	1.39 x	1.22 x	0.79 x	-	-	-
Nbr of stocks (in thousands)	10,589	10,589	11,289	12,589	12,610	12,629	-	-
Reference price ²	664.0	813.0	1,903	2,105	1,519	2,601	2,601	2,601
Announcement Date	5/13/19	5/25/20	5/12/21	5/12/22	5/15/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,416	15,669	18,521	23,599	20,781	16,100	17,500	20,000
EBITDA	-	1,652	3,592	-	-	-	-	-
EBIT ¹	1,005	1,012	2,663	4,953	3,205	300	1,000	1,800
Operating Margin	6.97%	6.46%	14.38%	20.99%	15.42%	1.86%	5.71%	9%
Earnings before Tax (EBT) ¹	1,001	1,123	2,574	5,092	3,465	500	1,000	1,800
Net income ¹	810	1,076	2,037	3,802	2,612	400	700	1,300
Net margin	5.62%	6.87%	11%	16.11%	12.57%	2.48%	4%	6.5%
EPS ²	76.50	101.6	190.0	311.2	207.2	31.70	55.40	102.9
Free Cash Flow ¹	546	-1,769	501	-	-	1,170	-520	530
FCF margin	3.79%	-11.29%	2.71%	-	-	7.27%	-2.97%	2.65%
FCF Conversion (EBITDA)	-	-	13.95%	-	-	-	-	-
FCF Conversion (Net income)	67.41%	-	24.59%	-	-	292.5%	-	40.77%
Dividend per Share ²	10.00	13.00	15.00	40.00	40.00	40.00	40.00	40.00
Announcement Date	5/13/19	5/25/20	5/12/21	5/12/22	5/15/23	-	-	-

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	6,819	8,850	8,190	-	6,437	11,226	6,159	6,214	12,373	4,292	5,270	9,562	5,809	5,410	11,219	4,137	3,864	8,001	4,007	4,092	8,099
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	461	551	1,219	1,444	1,869	3,011	1,183	759	1,942	507	733	1,240	1,146	819	1,965	258	-238	20	3	277	280
Operating Margin	6.76%	6.23%	14.88%	-	29.04%	26.82%	19.21%	12.21%	15.7%	11.81%	13.91%	12.97%	19.73%	15.14%	17.51%	6.24%	-6.16%	0.25%	0.07%	6.77%	3.46%
Earnings before Tax (EBT) ¹	544	-	1,150	1,424	1,880	3,044	1,215	833	2,048	803	854	1,657	1,006	802	1,808	340	-187	153	-70	417	347
Net income ¹	375	701	856	1,181	1,324	2,145	813	844	1,657	500	582	1,082	678	852	1,530	226	-142	84	-112	428	316
Net margin	5.5%	7.92%	10.45%	-	20.57%	19.11%	13.2%	13.58%	13.39%	11.65%	11.04%	11.32%	11.67%	15.75%	13.64%	5.46%	-3.67%	1.05%	-2.8%	10.46%	3.9%
EPS	35.44	-	80.92	-	-	178.7	65.84	-	-	39.74	-	85.89	53.85	-	-	17.96	-	6.710	-8.940	-	-
Dividend per Share	5.000	-	7.000	-	-	20.00	-	-	-	-	-	20.00	-	-	-	-	-	20.00	-	-	-
Announcement Date	11/7/19	5/25/20	11/6/20	5/12/21	11/9/21	11/9/21	2/8/22	5/12/22	5/12/22	8/5/22	11/9/22	11/9/22	2/8/23	5/15/23	5/15/23	8/8/23	11/9/23	11/9/23	2/8/24	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	375	1,438	-	-	-	-	-	-
Net Cash position	-	-	109	6,542	8,509	-	-	-
Leverage (Debt/EBITDA)	-	0.8705 x	-	-	-	-	-	-
Free Cash Flow ¹	546	-1,769	501	-	-	1,170	-520	530
ROE (net income / shareholders' equity)	7.4%	9.3%	14.8%	20.4%	11.3%	1.7%	-	-
ROA (Net income/ Total Assets)	5.93%	5.13%	11.1%	17.4%	10.2%	-	-	-
Assets ¹	13,666	20,972	18,293	21,866	25,699	-	-	-
Book Value Per Share	1,054	1,143	1,365	1,731	1,923	-	-	-
Cash Flow per Share	143.0	162.0	277.0	394.0	295.0	-	-	-
Capex ¹	625	3,297	914	860	921	1,100	1,100	1,100
Capex / Sales	4.34%	21.04%	4.93%	3.64%	4.43%	6.83%	6.29%	5.5%
Announcement Date	5/13/19	5/25/20	5/12/21	5/12/22	5/15/23	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Japan Electronic Materials Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

2,601 JPY

Average target price

1,900 JPY

Spread / Average Target

-26.95%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Semiconductor Equipment & Testing

	1st Jan change	Capi.
JAPAN ELECTRONIC MATERIALS CORPORATION	+43.78%	209M
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ENTEGRIS, INC.	+10.67%	19.99B
ASE TECHNOLOGY HOLDING CO., LTD.	+5.56%	18.87B
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ONTO INNOVATION INC.	+24.11%	9.34B
AMKOR TECHNOLOGY, INC.	-7.97%	7.54B
ZHEJIANG JINGSHENG MECHANICAL & ELECTRICAL CO., LTD.	-23.57%	6.08B
ASMPT LIMITED	+36.78%	5.4B

Other Semiconductor Equipment & Testing