KAJIMA CORPORATION |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,959 JPY | 0.00% |
|
+4.39% | +25.57% |
| Mar. 05 | Japan's Nikkei ends flat on dip-buying as index slips from peak | RE |
| Mar. 05 | Japan's Nikkei slips from record peak as chip-related shares dip | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 847,898 | 568,451 | 793,905 | 735,638 | 776,770 | 1,423,800 | - | - |
| Enterprise Value (EV) 1 | 811,137 | 537,372 | 790,660 | 810,155 | 1,016,766 | 1,706,785 | 1,670,565 | 1,626,648 |
| P/E ratio | 7.72 x | 5.52 x | 8.13 x | 7.17 x | 7.01 x | 12.9 x | 11.7 x | 10.4 x |
| Yield | 3.06% | 4.51% | 3.44% | 3.89% | 4.38% | 2.39% | 2.66% | 3.01% |
| Capitalization / Revenue | 0.43 x | 0.28 x | 0.42 x | 0.35 x | 0.32 x | 0.54 x | 0.53 x | 0.52 x |
| EV / Revenue | 0.41 x | 0.27 x | 0.41 x | 0.39 x | 0.43 x | 0.65 x | 0.62 x | 0.59 x |
| EV / EBITDA | 5.01 x | 3.54 x | 5.4 x | 5.55 x | 6.86 x | 10 x | 9.27 x | 8.26 x |
| EV / FCF | 161 x | -11 x | 7.41 x | -42.2 x | -9.17 x | 88.2 x | 17.8 x | 14.8 x |
| FCF Yield | 0.62% | -9.07% | 13.5% | -2.37% | -10.9% | 1.13% | 5.62% | 6.74% |
| Price to Book | 1.13 x | 0.72 x | 0.91 x | 0.78 x | 0.74 x | 1.27 x | 1.18 x | 1.1 x |
| Nbr of stocks (in thousands) | 518,909 | 512,579 | 505,350 | 493,386 | 486,089 | 481,176 | - | - |
| Reference price 2 | 1,634 | 1,109 | 1,571 | 1,491 | 1,598 | 2,959 | 2,959 | 2,959 |
| Announcement Date | 5/15/19 | 5/14/20 | 5/14/21 | 5/13/22 | 5/15/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,974,269 | 2,010,751 | 1,907,176 | 2,079,695 | 2,391,579 | 2,634,425 | 2,683,197 | 2,734,567 |
| EBITDA 1 | 161,788 | 151,949 | 146,378 | 145,993 | 148,237 | 170,350 | 180,275 | 196,950 |
| EBIT 1 | 142,622 | 131,987 | 127,298 | 123,382 | 123,526 | 146,557 | 156,418 | 170,133 |
| Operating Margin | 7.22% | 6.56% | 6.67% | 5.93% | 5.17% | 5.56% | 5.83% | 6.22% |
| Earnings before Tax (EBT) 1 | 157,474 | 149,634 | 145,247 | 150,370 | 167,255 | 162,720 | 176,540 | 196,640 |
| Net income 1 | 109,839 | 103,242 | 98,522 | 103,867 | 111,789 | 110,725 | 121,049 | 133,867 |
| Net margin | 5.56% | 5.13% | 5.17% | 4.99% | 4.67% | 4.2% | 4.51% | 4.9% |
| EPS 2 | 211.7 | 201.0 | 193.1 | 208.0 | 228.0 | 229.5 | 253.2 | 283.4 |
| Free Cash Flow 1 | 5,044 | -48,752 | 106,736 | -19,199 | -110,859 | 19,350 | 93,867 | 109,567 |
| FCF margin | 0.26% | -2.42% | 5.6% | -0.92% | -4.64% | 0.73% | 3.5% | 4.01% |
| FCF Conversion (EBITDA) | 3.12% | - | 72.92% | - | - | 11.36% | 52.07% | 55.63% |
| FCF Conversion (Net income) | 4.59% | - | 108.34% | - | - | 17.48% | 77.54% | 81.85% |
| Dividend per Share 2 | 50.00 | 50.00 | 54.00 | 58.00 | 70.00 | 70.86 | 78.71 | 89.00 |
| Announcement Date | 5/15/19 | 5/14/20 | 5/14/21 | 5/13/22 | 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 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 947,198 | - | 912,604 | 994,572 | 502,305 | 956,119 | 526,459 | 597,117 | 1,123,576 | 499,632 | 637,840 | 1,137,472 | 615,650 | 638,457 | 1,254,107 | 583,471 | 722,331 | 1,305,802 | 688,824 | 655,660 | - | 617,104 | 729,647 | - | 716,174 | 719,000 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 59,741 | - | 72,014 | 55,284 | 29,781 | 56,444 | 32,211 | 34,727 | 66,938 | 18,876 | 46,033 | 64,909 | 28,384 | 30,233 | 58,617 | 24,891 | 41,548 | 66,439 | 35,676 | 45,807 | - | 32,929 | 42,617 | - | 37,489 | 54,500 | - | - | - |
| Operating Margin | 6.31% | - | 7.89% | 5.56% | 5.93% | 5.9% | 6.12% | 5.82% | 5.96% | 3.78% | 7.22% | 5.71% | 4.61% | 4.74% | 4.67% | 4.27% | 5.75% | 5.09% | 5.18% | 6.99% | - | 5.34% | 5.84% | - | 5.23% | 7.58% | - | - | - |
| Earnings before Tax (EBT) 1 | 69,601 | - | 75,637 | 69,610 | 39,561 | 71,209 | 44,502 | 34,659 | 79,161 | 27,642 | 54,464 | 82,106 | 45,706 | 39,443 | 85,149 | 29,008 | 46,990 | 75,998 | 42,351 | 45,600 | - | - | - | - | - | - | - | - | - |
| Net income 1 | 49,810 | - | 51,872 | 46,650 | 27,810 | 49,875 | 31,548 | 22,444 | 53,992 | 19,650 | 35,091 | 54,741 | 27,335 | 29,713 | 57,048 | 19,361 | 30,673 | 50,034 | 26,574 | 34,970 | - | 24,445 | 30,860 | - | 27,484 | 54,500 | - | - | - |
| Net margin | 5.26% | - | 5.68% | 4.69% | 5.54% | 5.22% | 5.99% | 3.76% | 4.81% | 3.93% | 5.5% | 4.81% | 4.44% | 4.65% | 4.55% | 3.32% | 4.25% | 3.83% | 3.86% | 5.33% | - | 3.96% | 4.23% | - | 3.84% | 7.58% | - | - | - |
| EPS 2 | 96.76 | - | 101.2 | - | 55.70 | 99.55 | 63.20 | - | - | 39.90 | 71.25 | 111.2 | 55.75 | 61.08 | - | 40.03 | 63.69 | 103.7 | 55.22 | 67.10 | - | 55.35 | 67.58 | - | 60.76 | - | - | - | - |
| Dividend per Share | 25.00 | 25.00 | 25.00 | 29.00 | - | 27.00 | - | - | 31.00 | - | - | 29.00 | - | - | 41.00 | - | - | 35.00 | - | - | 35.00 | - | - | 42.00 | - | - | 42.00 | 47.00 | 47.00 |
| Announcement Date | 11/12/19 | 5/14/20 | 11/10/20 | 5/14/21 | 11/9/21 | 11/9/21 | 2/10/22 | 5/13/22 | 5/13/22 | 8/8/22 | 11/10/22 | 11/10/22 | 2/14/23 | 5/15/23 | 5/15/23 | 8/9/23 | 11/13/23 | 11/13/23 | 2/13/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 74,517 | 239,996 | 282,985 | 246,765 | 202,848 |
| Net Cash position 1 | 36,761 | 31,079 | 3,245 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | 0.5104 x | 1.619 x | 1.661 x | 1.369 x | 1.03 x |
| Free Cash Flow 1 | 5,044 | -48,752 | 106,736 | -19,199 | -110,859 | 19,350 | 93,867 | 109,567 |
| ROE (net income / shareholders' equity) | 15.5% | 13.4% | 11.8% | 11.4% | 11.2% | 10.3% | 10.6% | 11.2% |
| ROA (Net income/ Total Assets) | 7.82% | 6.88% | 6.44% | 6.76% | 6.14% | 4.2% | 4.4% | 4.8% |
| Assets 1 | 1,404,284 | 1,500,733 | 1,528,964 | 1,537,333 | 1,821,457 | 2,636,313 | 2,751,120 | 2,788,889 |
| Book Value Per Share 2 | 1,452 | 1,545 | 1,731 | 1,920 | 2,165 | 2,331 | 2,503 | 2,699 |
| Cash Flow per Share 2 | 249.0 | 240.0 | 231.0 | 253.0 | 278.0 | 249.0 | 301.0 | 354.0 |
| Capex 1 | 23,406 | 81,159 | 46,361 | 49,414 | 60,737 | 46,667 | 45,000 | 45,000 |
| Capex / Sales | 1.19% | 4.04% | 2.43% | 2.38% | 2.54% | 1.77% | 1.68% | 1.65% |
| Announcement Date | 5/15/19 | 5/14/20 | 5/14/21 | 5/13/22 | 5/15/23 | - | - | - |
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
BUY
Number of Analysts
7
Last Close Price
2,959
JPY
Average target price
3,231
JPY
Spread / Average Target
+9.21%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +25.57% | 9.04B | |
| -2.29% | 67.67B | |
| +2.13% | 59.37B | |
| +21.25% | 38.3B | |
| +11.23% | 30.73B | |
| +2.06% | 26.35B | |
| +22.89% | 22.01B | |
| +15.06% | 19.47B | |
| +22.99% | 17.6B | |
| +64.33% | 16.64B |
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- Financials Kajima Corporation
