Financials Kumagai Gumi Co.,Ltd.

Equities

1861

JP3266800006

Construction & Engineering

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-01 am EDT			5-day change	1st Jan Change
4,140 ^JPY	-0.36%		+1.22%	+14.84%

Feb. 20	Kumagai Gumi's Nine-Month Attributable Profit, Net Sales Rise	MT
Feb. 13	Kumagai Gumi Co., Ltd. Announces Executive Changes, Effective April 1, 2024	CI

Valuation

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	161,250	116,533	140,029	122,508	115,990	178,064	-	-
Enterprise Value (EV) ¹	91,650	53,636	80,583	67,256	97,209	171,031	168,316	166,462
P/E ratio	12.1 x	5.99 x	7.81 x	7.92 x	14.8 x	15.8 x	12.2 x	10.3 x
Yield	2.89%	4.8%	3.99%	4.43%	4.89%	3.13%	3.56%	3.87%
Capitalization / Revenue	0.41 x	0.27 x	0.31 x	0.29 x	0.29 x	0.41 x	0.37 x	0.36 x
EV / Revenue	0.24 x	0.12 x	0.18 x	0.16 x	0.24 x	0.39 x	0.35 x	0.33 x
EV / EBITDA	3.23 x	1.95 x	2.68 x	2.72 x	7.26 x	9.08 x	7.32 x	6.55 x
EV / FCF	-4.63 x	-27.5 x	18 x	13.8 x	-3.56 x	55.2 x	125 x	16.6 x
FCF Yield	-21.6%	-3.64%	5.56%	7.23%	-28.1%	1.81%	0.8%	6.04%
Price to Book	1.2 x	0.79 x	0.85 x	0.72 x	0.68 x	1.02 x	0.97 x	0.92 x
Nbr of stocks (in thousands)	46,604	46,595	46,599	45,206	43,622	43,011	-	-
Reference price ²	3,460	2,501	3,005	2,710	2,659	4,155	4,155	4,155
Announcement Date	5/13/19	5/13/20	5/13/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	389,058	436,151	450,232	425,216	403,502	438,860	480,180	497,340
EBITDA ¹	28,398	27,517	30,098	24,771	13,381	18,833	23,000	25,400
EBIT ¹	26,464	25,440	28,069	22,743	11,483	16,520	20,940	24,720
Operating Margin	6.8%	5.83%	6.23%	5.35%	2.85%	3.76%	4.36%	4.97%
Earnings before Tax (EBT) ¹	21,106	27,070	26,093	22,919	12,030	17,400	21,767	25,400
Net income ¹	13,312	19,447	17,925	15,850	7,973	11,380	14,600	17,120
Net margin	3.42%	4.46%	3.98%	3.73%	1.98%	2.59%	3.04%	3.44%
EPS ²	285.5	417.4	384.7	342.1	179.6	263.2	340.2	401.7
Free Cash Flow ¹	-19,777	-1,953	4,478	4,863	-27,284	3,100	1,350	10,050
FCF margin	-5.08%	-0.45%	0.99%	1.14%	-6.76%	0.71%	0.28%	2.02%
FCF Conversion (EBITDA)	-	-	14.88%	19.63%	-	16.46%	5.87%	39.57%
FCF Conversion (Net income)	-	-	24.98%	30.68%	-	27.24%	9.25%	58.7%
Dividend per Share ²	100.0	120.0	120.0	120.0	130.0	130.0	148.0	161.0
Announcement Date	5/13/19	5/13/20	5/13/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	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	200,065	206,884	243,348	101,173	189,555	111,018	124,643	235,661	91,669	94,175	185,844	99,733	117,925	217,658	90,891	105,366	196,257	111,497	129,746	-	106,400	114,400	-	119,400	134,900	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	9,619	11,841	16,228	5,884	8,708	6,536	7,679	14,035	505	2,325	2,830	2,923	5,730	8,653	410	3,358	3,768	5,485	7,014	-	2,650	4,500	-	5,500	7,600	-	-	-
Operating Margin	4.81%	5.72%	6.67%	5.82%	4.59%	5.89%	6.16%	5.96%	0.55%	2.47%	1.52%	2.93%	4.86%	3.98%	0.45%	3.19%	1.92%	4.92%	5.41%	-	2.49%	3.93%	-	4.61%	5.63%	-	-	-
Earnings before Tax (EBT) ¹	11,047	11,538	14,555	6,126	9,052	6,686	7,181	13,867	886	2,579	3,465	2,719	5,846	8,565	382	3,444	3,826	5,233	7,896	-	2,600	4,650	-	5,500	8,200	-	-	-
Net income ¹	7,905	7,728	10,197	4,236	6,259	4,522	5,069	9,591	575	1,666	2,241	1,747	3,985	5,732	68	2,363	2,431	3,488	5,581	-	1,700	3,200	-	3,750	5,550	-	-	-
Net margin	3.95%	3.74%	4.19%	4.19%	3.3%	4.07%	4.07%	4.07%	0.63%	1.77%	1.21%	1.75%	3.38%	2.63%	0.07%	2.24%	1.24%	3.13%	4.3%	-	1.6%	2.8%	-	3.14%	4.11%	-	-	-
EPS	169.6	165.9	-	-	134.3	97.24	-	-	12.79	-	50.01	39.43	-	-	1.570	-	55.98	80.70	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	120.0	-	-	-	-	-	-	-	-	-	-	-	130.0	-	-	-	-	-	130.0	-	135.0
Announcement Date	11/11/19	11/10/20	5/13/21	11/11/21	11/11/21	2/9/22	5/13/22	5/13/22	8/9/22	11/10/22	11/10/22	2/10/23	5/12/23	5/12/23	8/9/23	11/13/23	11/13/23	2/13/24	-	-	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	69,600	62,897	59,446	55,252	18,781	7,032	9,748	11,602
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-19,777	-1,953	4,478	4,863	-27,284	3,100	1,350	10,050
ROE (net income / shareholders' equity)	10.2%	13.7%	11.5%	9.5%	4.7%	6.4%	8.33%	9.11%
ROA (Net income/ Total Assets)	7.73%	7.06%	7.53%	6.32%	3.27%	3.6%	4.17%	4.73%
Assets ¹	172,305	275,455	238,079	250,677	243,616	316,111	350,400	361,690
Book Value Per Share ²	2,894	3,177	3,516	3,751	3,894	4,077	4,270	4,502
Cash Flow per Share ²	328.0	463.0	429.0	178.0	222.0	9.000	-164.0	55.00
Capex ¹	7,245	2,199	2,094	3,158	4,144	4,500	4,500	4,500
Capex / Sales	1.86%	0.5%	0.47%	0.74%	1.03%	1.03%	0.94%	0.9%
Announcement Date	5/13/19	5/13/20	5/13/21	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 Kumagai Gumi Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4,140 JPY

Average target price

4,330 JPY

Spread / Average Target

+4.59%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Civil Engineers & Architects

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Civil Engineers & Architects