Financials Konoike Transport Co.,Ltd.

Equities

9025

JP3288970001

Ground Freight & Logistics

Delayed Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
2,251 ^JPY	+0.27%		+2.41%	+15.44%

Mar. 15	Konoike Transport Attributable Profit Jumps 24% in Fiscal Nine Months	MT
Mar. 15	Konoike Transport Co.,Ltd. Revises Consolidated Earnings Guidance for the Full Year Ending March 31, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	101,747	60,761	63,464	61,118	78,903	119,386	-	-
Enterprise Value (EV) ¹	123,283	85,132	87,058	76,395	83,252	126,227	125,699	119,112
P/E ratio	16.4 x	13.6 x	13.1 x	7.63 x	9.5 x	11.2 x	10.1 x	9.8 x
Yield	1.97%	3.11%	1.65%	2.51%	2.82%	2.78%	2.97%	3.09%
Capitalization / Revenue	0.35 x	0.2 x	0.22 x	0.2 x	0.25 x	0.38 x	0.36 x	0.36 x
EV / Revenue	0.42 x	0.27 x	0.3 x	0.25 x	0.27 x	0.4 x	0.38 x	0.36 x
EV / EBITDA	6.54 x	4.77 x	7.17 x	4.13 x	3.91 x	5.04 x	4.73 x	4.43 x
EV / FCF	-42.7 x	46.7 x	24.6 x	7.4 x	6.43 x	40.8 x	14.2 x	12 x
FCF Yield	-2.34%	2.14%	4.06%	13.5%	15.6%	2.45%	7.06%	8.37%
Price to Book	1.03 x	0.63 x	0.62 x	0.55 x	0.65 x	0.93 x	0.87 x	0.82 x
Nbr of stocks (in thousands)	55,569	52,471	52,493	52,916	52,991	53,037	-	-
Reference price ²	1,831	1,158	1,209	1,155	1,489	2,251	2,251	2,251
Announcement Date	5/9/19	6/19/20	5/12/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	294,158	310,834	292,348	301,373	311,840	313,825	328,275	332,900
EBITDA ¹	18,844	17,859	12,135	18,489	21,279	25,021	26,574	26,914
EBIT ¹	10,976	9,686	3,997	10,288	13,243	16,526	17,968	18,479
Operating Margin	3.73%	3.12%	1.37%	3.41%	4.25%	5.27%	5.47%	5.55%
Earnings before Tax (EBT) ¹	10,436	8,051	8,906	12,014	13,764	17,000	18,400	20,500
Net income ¹	6,289	4,593	4,836	7,988	8,301	10,677	11,768	12,090
Net margin	2.14%	1.48%	1.65%	2.65%	2.66%	3.4%	3.58%	3.63%
EPS ²	111.6	84.90	92.14	151.3	156.7	201.4	223.6	229.7
Free Cash Flow ¹	-2,889	1,822	3,536	10,325	12,947	3,095	8,868	9,967
FCF margin	-0.98%	0.59%	1.21%	3.43%	4.15%	0.99%	2.7%	2.99%
FCF Conversion (EBITDA)	-	10.2%	29.14%	55.84%	60.84%	12.37%	33.37%	37.03%
FCF Conversion (Net income)	-	39.67%	73.12%	129.26%	155.97%	28.99%	75.36%	82.44%
Dividend per Share ²	36.00	36.00	20.00	29.00	42.00	62.50	66.75	69.50
Announcement Date	5/9/19	6/19/20	5/12/21	5/13/22	5/12/23	-	-	-

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 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	156,837	145,860	73,489	145,398	77,857	78,118	76,471	79,089	155,560	81,559	74,721	76,923	78,619	155,542	80,333	75,923	81,900	83,900	86,100	83,100
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	6,445	1,586	2,260	5,325	3,198	1,765	3,441	3,937	7,378	3,403	2,462	3,948	4,232	8,180	5,073	2,854	4,330	4,900	5,780	3,490
Operating Margin	4.11%	1.09%	3.08%	3.66%	4.11%	2.26%	4.5%	4.98%	4.74%	4.17%	3.29%	5.13%	5.38%	5.26%	6.31%	3.76%	5.29%	5.84%	6.71%	4.2%
Earnings before Tax (EBT)	6,727	4,345	2,587	6,427	4,068	-	3,768	4,269	8,037	3,178	2,550	4,267	4,435	8,702	4,687	-	-	-	-	-
Net income ¹	4,211	2,812	1,657	4,390	2,720	878	2,439	2,705	5,144	1,782	1,375	2,622	2,910	5,532	3,027	2,441	-	-	-	-
Net margin	2.68%	1.93%	2.25%	3.02%	3.49%	1.12%	3.19%	3.42%	3.31%	2.18%	1.84%	3.41%	3.7%	3.56%	3.77%	3.22%	-	-	-	-
EPS	76.61	53.57	31.35	83.36	51.44	16.53	46.10	51.09	97.19	33.61	25.95	49.48	54.89	104.4	57.09	-	-	-	-	-
Dividend per Share	18.00	9.000	-	11.00	-	-	-	-	18.00	-	-	-	-	24.00	-	-	-	-	-	-
Announcement Date	11/11/19	11/12/20	11/12/21	11/12/21	2/9/22	5/13/22	8/10/22	11/11/22	11/11/22	2/10/23	5/12/23	8/10/23	11/10/23	11/10/23	3/14/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	21,536	24,371	23,594	15,277	4,349	6,841	6,313	-
Net Cash position ¹	-	-	-	-	-	-	-	274
Leverage (Debt/EBITDA)	1.143 x	1.365 x	1.944 x	0.8263 x	0.2044 x	0.2734 x	0.2376 x	-
Free Cash Flow ¹	-2,889	1,822	3,536	10,325	12,947	3,095	8,869	9,967
ROE (net income / shareholders' equity)	6.4%	4.7%	4.9%	7.5%	7.1%	8.49%	9.16%	8.8%
ROA (Net income/ Total Assets)	5.35%	4.38%	3.9%	4.59%	5.45%	6.3%	6.3%	6.4%
Assets ¹	117,525	104,928	124,103	174,179	152,228	169,472	186,790	188,903
Book Value Per Share ²	1,772	1,833	1,935	2,096	2,289	2,415	2,588	2,754
Cash Flow per Share ²	244.0	236.0	247.0	307.0	308.0	396.0	385.0	408.0
Capex ¹	10,558	16,545	13,489	9,287	6,929	12,000	10,000	10,000
Capex / Sales	3.59%	5.32%	4.61%	3.08%	2.22%	3.82%	3.05%	3%
Announcement Date	5/9/19	6/19/20	5/12/21	5/13/22	5/12/23	-	-	-

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

Ratings for Konoike Transport Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2,251 JPY

Average target price

2,500 JPY

Spread / Average Target

+11.06%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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KONOIKE TRANSPORT CO.,LTD.	+15.44%	758M
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U-HAUL HOLDING COMPANY	-9.58%	12.39B
C.H. ROBINSON WORLDWIDE, INC.	-18.72%	8.22B
KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.	-18.66%	7.55B
RUMO S.A.	-9.19%	7.52B
ALD	-3.88%	5.4B

Other Ground Freight & Logistics