KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO., LTD. Financials Kawai Musical Instruments Manufacturing Co., Ltd.
Equities
7952
JP3221400009
Recreational Products
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,705 JPY | -1.07% |
|
+0.82% | +4.07% |
Valuation
| Fiscal Period: März | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 30,197 | 24,584 | 20,721 | 30,083 | 28,105 | 26,214 |
| Enterprise Value (EV) 1 | 27,400 | 19,736 | 16,327 | 22,053 | 15,737 | 15,825 |
| P/E ratio | 15.8 x | 12.2 x | 13.4 x | 11.7 x | 5.57 x | 7.14 x |
| Yield | 1.41% | 1.84% | 2.27% | 1.57% | 2.29% | 2.79% |
| Capitalization / Revenue | 0.43 x | 0.34 x | 0.29 x | 0.45 x | 0.33 x | 0.3 x |
| EV / Revenue | 0.39 x | 0.27 x | 0.23 x | 0.33 x | 0.18 x | 0.18 x |
| EV / EBITDA | 5.96 x | 3.71 x | 3.58 x | 4.35 x | 1.91 x | 2.36 x |
| EV / FCF | 19 x | 7.88 x | 61 x | 5.12 x | 4.87 x | -5.71 x |
| FCF Yield | 5.26% | 12.7% | 1.64% | 19.5% | 20.5% | -17.5% |
| Price to Book | 1.3 x | 0.99 x | 0.81 x | 1.08 x | 0.84 x | 0.69 x |
| Nbr of stocks (in thousands) | 8,530 | 8,551 | 8,569 | 8,595 | 8,595 | 8,595 |
| Reference price 2 | 3,540 | 2,875 | 2,418 | 3,500 | 3,270 | 3,050 |
| Announcement Date | 6/28/18 | 6/27/19 | 6/29/20 | 6/28/21 | 6/29/22 | 6/28/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 70,795 | 72,376 | 71,302 | 67,520 | 85,703 | 87,771 |
| EBITDA 1 | 4,596 | 5,313 | 4,560 | 5,066 | 8,238 | 6,711 |
| EBIT 1 | 2,750 | 3,670 | 2,961 | 3,494 | 6,697 | 5,046 |
| Operating Margin | 3.88% | 5.07% | 4.15% | 5.17% | 7.81% | 5.75% |
| Earnings before Tax (EBT) 1 | 2,960 | 3,429 | 2,976 | 3,165 | 7,313 | 5,611 |
| Net income 1 | 1,951 | 2,010 | 1,545 | 2,579 | 5,046 | 3,672 |
| Net margin | 2.76% | 2.78% | 2.17% | 3.82% | 5.89% | 4.18% |
| EPS 2 | 224.1 | 235.2 | 180.2 | 300.1 | 587.2 | 427.3 |
| Free Cash Flow 1 | 1,442 | 2,506 | 267.5 | 4,304 | 3,229 | -2,771 |
| FCF margin | 2.04% | 3.46% | 0.38% | 6.37% | 3.77% | -3.16% |
| FCF Conversion (EBITDA) | 31.38% | 47.16% | 5.87% | 84.96% | 39.19% | - |
| FCF Conversion (Net income) | 73.92% | 124.66% | 17.31% | 166.89% | 63.98% | - |
| Dividend per Share 2 | 50.00 | 53.00 | 55.00 | 55.00 | 75.00 | 85.00 |
| Announcement Date | 6/28/18 | 6/27/19 | 6/29/20 | 6/28/21 | 6/29/22 | 6/28/23 |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 S1 | 2024 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 36,430 | 28,081 | 20,872 | 41,419 | 21,215 | 23,069 | 20,766 | 21,258 | 42,024 | 22,668 | 23,079 | 19,406 | 40,405 | 19,529 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 1,965 | 135 | 1,673 | 3,338 | 1,501 | 1,857 | 1,147 | 1,289 | 2,436 | 1,301 | 1,308 | 778 | 1,812 | 958 |
| Operating Margin | 5.39% | 0.48% | 8.02% | 8.06% | 7.08% | 8.05% | 5.52% | 6.06% | 5.8% | 5.74% | 5.67% | 4.01% | 4.48% | 4.91% |
| Earnings before Tax (EBT) 1 | 1,917 | -540 | - | 3,553 | 1,630 | - | 1,547 | - | 2,838 | 1,245 | - | 1,233 | 2,450 | 947 |
| Net income 1 | 1,433 | -881 | - | 2,344 | 1,113 | - | 919 | - | 1,769 | 729 | - | 777 | 1,537 | 580 |
| Net margin | 3.93% | -3.14% | - | 5.66% | 5.25% | - | 4.43% | - | 4.21% | 3.22% | - | 4% | 3.8% | 2.97% |
| EPS 2 | 167.4 | -102.5 | - | 272.8 | 129.5 | - | 107.0 | - | 205.9 | 84.82 | - | 90.47 | 178.9 | 67.49 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/7/19 | 11/10/20 | 11/9/21 | 11/9/21 | 2/9/22 | 5/12/22 | 8/4/22 | 11/9/22 | 11/9/22 | 2/9/23 | 5/11/23 | 8/8/23 | 11/9/23 | 2/14/24 |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | 2,797 | 4,848 | 4,394 | 8,030 | 12,368 | 10,389 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,442 | 2,506 | 268 | 4,304 | 3,229 | -2,771 |
| ROE (net income / shareholders' equity) | 8.68% | 8.34% | 6.14% | 9.67% | 16.5% | 10.2% |
| ROA (Net income/ Total Assets) | 3.35% | 4.32% | 3.53% | 3.88% | 6.48% | 4.53% |
| Assets 1 | 58,312 | 46,506 | 43,826 | 66,406 | 77,813 | 81,044 |
| Book Value Per Share 2 | 2,720 | 2,912 | 2,980 | 3,236 | 3,884 | 4,452 |
| Cash Flow per Share 2 | 1,286 | 1,379 | 1,209 | 2,266 | 2,636 | 2,247 |
| Capex 1 | 1,583 | 1,287 | 1,105 | 795 | 899 | 1,221 |
| Capex / Sales | 2.24% | 1.78% | 1.55% | 1.18% | 1.05% | 1.39% |
| Announcement Date | 6/28/18 | 6/27/19 | 6/29/20 | 6/28/21 | 6/29/22 | 6/28/23 |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +4.07% | 204M | |
| +1.69% | 3.52B | |
| -2.16% | 749M | |
| -38.79% | 159M | |
| +18.17% | 75.41M |
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- Financials Kawai Musical Instruments Manufacturing Co., Ltd.
