JFE HOLDINGS, INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,336 JPY | +0.75% |
|
-0.49% | +6.81% |
| Mar. 22 | Japan's Seibu considers sale of Tokyo office building for $2 bln, sources say | RE |
| Feb. 21 | Japan's JFE Holdings to raise steel product prices from April | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,081,758 | 404,824 | 784,835 | 992,076 | 975,422 | 1,485,957 | - | - |
| Enterprise Value (EV) 1 | 2,523,346 | 2,126,121 | 2,435,199 | 2,739,703 | 2,718,996 | 3,169,833 | 3,056,596 | 2,961,891 |
| P/E ratio | 6.62 x | -2.05 x | -35.9 x | 3.44 x | 5.99 x | 7.35 x | 6.34 x | 6.44 x |
| Yield | 2.66% | 2.84% | 0.73% | 8.13% | 4.76% | 4.28% | 4.8% | 4.62% |
| Capitalization / Revenue | 0.28 x | 0.11 x | 0.24 x | 0.23 x | 0.19 x | 0.28 x | 0.27 x | 0.28 x |
| EV / Revenue | 0.65 x | 0.57 x | 0.75 x | 0.63 x | 0.52 x | 0.6 x | 0.56 x | 0.55 x |
| EV / EBITDA | 5.89 x | 7.87 x | 10.7 x | 4.87 x | 5.5 x | 5.71 x | 5.31 x | 5.06 x |
| EV / FCF | -56 x | -16.3 x | -25.6 x | 256 x | 22.4 x | -158 x | 22.4 x | 19.7 x |
| FCF Yield | -1.79% | -6.13% | -3.91% | 0.39% | 4.47% | -0.63% | 4.46% | 5.08% |
| Price to Book | 0.56 x | 0.25 x | 0.47 x | 0.5 x | 0.46 x | 0.63 x | 0.59 x | 0.55 x |
| Nbr of stocks (in thousands) | 575,863 | 575,852 | 575,814 | 575,784 | 580,954 | 635,976 | - | - |
| Reference price 2 | 1,878 | 703.0 | 1,363 | 1,723 | 1,679 | 2,336 | 2,336 | 2,336 |
| Announcement Date | 5/14/19 | 5/12/20 | 5/7/21 | 5/6/22 | 5/8/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,873,662 | 3,729,717 | 3,227,285 | 4,365,145 | 5,268,794 | 5,315,417 | 5,434,493 | 5,388,558 |
| EBITDA 1 | 428,313 | 270,199 | 226,815 | 562,322 | 494,686 | 555,369 | 575,767 | 585,373 |
| EBIT 1 | 221,818 | -200,927 | -9,538 | 310,039 | 225,086 | 287,844 | 322,827 | 322,147 |
| Operating Margin | 5.73% | -5.39% | -0.3% | 7.1% | 4.27% | 5.42% | 5.94% | 5.98% |
| Earnings before Tax (EBT) 1 | 209,313 | -213,473 | -4,930 | 388,535 | 210,282 | 268,117 | 316,071 | 311,317 |
| Net income 1 | 163,509 | -197,744 | -21,868 | 288,058 | 162,621 | 195,600 | 234,489 | 226,072 |
| Net margin | 4.22% | -5.3% | -0.68% | 6.6% | 3.09% | 3.68% | 4.31% | 4.2% |
| EPS 2 | 283.8 | -343.4 | -37.98 | 500.3 | 280.5 | 318.0 | 368.7 | 362.8 |
| Free Cash Flow 1 | -45,100 | -130,286 | -95,121 | 10,704 | 121,489 | -20,001 | 136,355 | 150,512 |
| FCF margin | -1.16% | -3.49% | -2.95% | 0.25% | 2.31% | -0.38% | 2.51% | 2.79% |
| FCF Conversion (EBITDA) | - | - | - | 1.9% | 24.56% | - | 23.68% | 25.71% |
| FCF Conversion (Net income) | - | - | - | 3.72% | 74.71% | - | 58.15% | 66.58% |
| Dividend per Share 2 | 50.00 | 20.00 | 10.00 | 140.0 | 80.00 | 100.0 | 112.2 | 107.9 |
| Announcement Date | 5/14/19 | 5/12/20 | 5/7/21 | 5/6/22 | 5/8/23 | - | - | - |
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 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,871,292 | 1,858,425 | 1,492,294 | 1,734,991 | 1,054,036 | 1,942,977 | 1,154,417 | 1,267,751 | 2,422,168 | 1,253,600 | 1,310,735 | 2,564,335 | 1,344,200 | 1,360,259 | 2,704,459 | 1,262,086 | 1,314,501 | 2,576,588 | 1,289,159 | 1,353,649 | 2,581,400 | 1,298,184 | 1,351,233 | 2,630,000 | 1,364,608 | 1,361,975 | 2,570,000 |
| EBITDA 1 | - | - | - | - | 170,835 | - | 187,698 | 53,886 | - | 182,120 | 135,351 | - | 109,196 | 68,019 | - | 154,649 | 153,162 | - | 140,775 | 126,474 | - | 102,042 | 217,147 | - | 135,749 | 75,994 | - |
| EBIT 1 | 49,063 | -249,990 | -114,338 | 104,800 | 110,506 | 198,869 | 123,970 | -12,800 | 111,170 | 116,659 | 71,256 | 187,915 | 43,100 | -14,038 | - | 55,820 | 79,522 | 164,346 | 76,268 | 56,189 | - | 56,836 | 115,889 | - | 102,690 | 36,312 | - |
| Operating Margin | 2.62% | -13.45% | -7.66% | 6.04% | 10.48% | 10.24% | 10.74% | -1.01% | 4.59% | 9.31% | 5.44% | 7.33% | 3.21% | -1.03% | - | 4.42% | 6.05% | 6.38% | 5.92% | 4.15% | - | 4.38% | 8.58% | - | 7.53% | 2.67% | - |
| Earnings before Tax (EBT) 1 | 42,782 | -256,255 | -120,788 | 115,858 | 107,779 | 193,221 | 110,624 | 84,690 | - | 113,404 | 67,841 | 181,246 | 32,500 | -3,464 | - | 79,883 | 75,479 | 155,363 | 70,987 | 39,124 | - | 66,000 | 68,000 | - | 125,000 | 51,000 | - |
| Net income 1 | 31,934 | - | -105,712 | 83,844 | 78,776 | 140,755 | 82,292 | 65,011 | - | 83,844 | 39,411 | 123,256 | 20,600 | 18,681 | - | 59,602 | 50,488 | 110,091 | 52,831 | 36,321 | - | 61,805 | 87,306 | - | 77,698 | 23,687 | - |
| Net margin | 1.71% | - | -7.08% | 4.83% | 7.47% | 7.24% | 7.13% | 5.13% | - | 6.69% | 3.01% | 4.81% | 1.53% | 1.37% | - | 4.72% | 3.84% | 4.27% | 4.1% | 2.68% | - | 4.76% | 6.46% | - | 5.69% | 1.74% | - |
| EPS 2 | 55.46 | -398.8 | -183.6 | 145.6 | 136.8 | 244.4 | 142.9 | - | - | 145.6 | 67.99 | 213.2 | 35.60 | 31.69 | - | 102.6 | 84.89 | 187.0 | 83.07 | 80.48 | - | 115.7 | 195.9 | - | 102.8 | 11.59 | - |
| Dividend per Share 2 | 20.00 | - | - | - | 60.00 | 60.00 | - | - | - | - | 50.00 | 50.00 | - | 30.00 | - | - | 50.00 | 50.00 | - | 50.00 | - | - | 59.00 | - | - | 59.00 | - |
| Announcement Date | 11/12/19 | 5/12/20 | 11/9/20 | 5/7/21 | 11/5/21 | 11/5/21 | 2/8/22 | 5/6/22 | 5/6/22 | 8/3/22 | 11/4/22 | 11/4/22 | 2/6/23 | 5/8/23 | 5/8/23 | 8/3/23 | 11/6/23 | 11/6/23 | 2/6/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,441,588 | 1,721,297 | 1,650,364 | 1,747,627 | 1,743,574 | 1,683,875 | 1,570,639 | 1,475,934 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.366 x | 6.37 x | 7.276 x | 3.108 x | 3.525 x | 3.032 x | 2.728 x | 2.521 x |
| Free Cash Flow 1 | -45,100 | -130,286 | -95,121 | 10,704 | 121,489 | -20,001 | 136,355 | 150,512 |
| ROE (net income / shareholders' equity) | 8.63% | -11.1% | -1.3% | 15.7% | 7.9% | 8.91% | 9.39% | 8.99% |
| ROA (Net income/ Total Assets) | 4.57% | -4.56% | -0.11% | 7.82% | 3.89% | 3.9% | 4.2% | 4.55% |
| Assets 1 | 3,596,839 | 4,333,004 | 20,628,243 | 3,685,803 | 4,180,693 | 5,015,376 | 5,583,074 | 4,968,611 |
| Book Value Per Share 2 | 3,345 | 2,826 | 2,916 | 3,453 | 3,650 | 3,736 | 3,980 | 4,234 |
| Cash Flow per Share 2 | 624.0 | 58.80 | 372.0 | 938.0 | 746.0 | 843.0 | 805.0 | - |
| Capex 1 | 312,578 | 391,356 | 342,395 | 340,935 | 325,632 | 373,851 | 333,783 | 335,067 |
| Capex / Sales | 7.89% | 10.49% | 10.61% | 7.81% | 6.18% | 7.03% | 6.14% | 6.22% |
| Announcement Date | 5/14/19 | 5/12/20 | 5/7/21 | 5/6/22 | 5/8/23 | - | - | - |
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
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
2,336
JPY
Average target price
2,734
JPY
Spread / Average Target
+17.03%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.81% | 9.44B | |
| +0.79% | 42.1B | |
| +18.89% | 24.83B | |
| -21.02% | 21.75B | |
| +13.50% | 21.17B | |
| -7.50% | 20.77B | |
| -12.44% | 8.5B | |
| -23.08% | 8.41B | |
| +36.31% | 8.35B | |
| -.--% | 7.47B |
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- Financials JFE Holdings, Inc.
