MANDOM CORPORATION |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,332 JPY | +2.46% |
|
+1.99% | +4.23% |
| 2023 | Mandom Corporation Reports Earnings Results for the Full Year Ended March 31, 2023 | CI |
| 2022 | UBS Adjusts Mandom’s Price Target to 2,500 Yen From 2,400 Yen, Keeps at Buy | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 133,151 | 92,953 | 93,680 | 59,154 | 66,414 | 58,459 | - | - |
| Enterprise Value (EV) 1 | 106,915 | 77,317 | 81,231 | 39,362 | 48,921 | 35,707 | 33,257 | 29,863 |
| P/E ratio | 26.2 x | 21.2 x | 109 x | -95 x | 69.3 x | 26.6 x | 24.2 x | 18.4 x |
| Yield | 2.11% | 2.99% | 1.53% | 2.74% | 2.57% | 3.08% | 3.23% | 3.38% |
| Capitalization / Revenue | 1.69 x | 1.14 x | 1.48 x | 1.03 x | 0.99 x | 0.8 x | 0.76 x | 0.73 x |
| EV / Revenue | 1.35 x | 0.95 x | 1.28 x | 0.69 x | 0.73 x | 0.49 x | 0.43 x | 0.37 x |
| EV / EBITDA | 9.98 x | 7.32 x | 19.2 x | 12.1 x | 7.36 x | 5.34 x | 4.34 x | 3.45 x |
| EV / FCF | 35.3 x | -25.3 x | 154 x | 5.24 x | 17.4 x | 13.2 x | 10 x | 7.66 x |
| FCF Yield | 2.83% | -3.95% | 0.65% | 19.1% | 5.74% | 7.59% | 9.96% | 13.1% |
| Price to Book | 1.9 x | 1.38 x | 1.46 x | 0.93 x | 1.02 x | 0.89 x | 0.88 x | 0.86 x |
| Nbr of stocks (in thousands) | 46,785 | 44,883 | 44,866 | 44,984 | 44,965 | 44,969 | - | - |
| Reference price 2 | 2,846 | 2,071 | 2,088 | 1,315 | 1,477 | 1,300 | 1,300 | 1,300 |
| Announcement Date | 5/14/19 | 5/8/20 | 5/11/21 | 5/11/22 | 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 | 78,997 | 81,774 | 63,310 | 57,361 | 67,047 | 73,000 | 77,050 | 80,483 |
| EBITDA 1 | 10,718 | 10,564 | 4,241 | 3,255 | 6,650 | 6,688 | 7,658 | 8,666 |
| EBIT 1 | 7,135 | 5,970 | -793 | -2,308 | 1,409 | 1,685 | 2,920 | 4,065 |
| Operating Margin | 9.03% | 7.3% | -1.25% | -4.02% | 2.1% | 2.31% | 3.79% | 5.05% |
| Earnings before Tax (EBT) 1 | 7,958 | 6,799 | 1,221 | -762 | 1,589 | 3,100 | 3,744 | 5,185 |
| Net income 1 | 5,087 | 4,445 | 860 | -621 | 958 | 2,200 | 2,417 | 3,180 |
| Net margin | 6.44% | 5.44% | 1.36% | -1.08% | 1.43% | 3.01% | 3.14% | 3.95% |
| EPS 2 | 108.8 | 97.68 | 19.17 | -13.84 | 21.31 | 48.90 | 53.76 | 70.71 |
| Free Cash Flow 1 | 3,028 | -3,055 | 528 | 7,508 | 2,808 | 2,712 | 3,312 | 3,901 |
| FCF margin | 3.83% | -3.74% | 0.83% | 13.09% | 4.19% | 3.71% | 4.3% | 4.85% |
| FCF Conversion (EBITDA) | 28.25% | - | 12.45% | 230.66% | 42.23% | 40.54% | 43.25% | 45.02% |
| FCF Conversion (Net income) | 59.52% | - | 61.4% | - | 293.11% | 123.25% | 137.03% | 122.67% |
| Dividend per Share 2 | 60.00 | 62.00 | 32.00 | 36.00 | 38.00 | 40.00 | 42.00 | 44.00 |
| Announcement Date | 5/14/19 | 5/8/20 | 5/11/21 | 5/11/22 | 5/12/23 | - | - | - |
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 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 44,439 | 37,335 | 33,548 | 29,762 | 14,932 | 29,311 | 13,289 | 14,761 | 16,050 | 16,602 | 32,652 | 17,120 | 17,275 | 18,455 | 18,678 | 37,133 | 17,539 | 18,328 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 4,628 | 1,342 | 895 | -1,688 | 99 | -646 | -375 | -1,287 | 694 | 344 | 1,038 | 719 | -348 | 1,033 | 612 | 1,645 | 558 | -503 |
| Operating Margin | 10.41% | 3.59% | 2.67% | -5.67% | 0.66% | -2.2% | -2.82% | -8.72% | 4.32% | 2.07% | 3.18% | 4.2% | -2.01% | 5.6% | 3.28% | 4.43% | 3.18% | -2.74% |
| Earnings before Tax (EBT) | 5,198 | - | 2,932 | - | 1,060 | 546 | -237 | -1,071 | 804 | 520 | 1,324 | 953 | -688 | 1,233 | 1,042 | 2,275 | 844 | - |
| Net income 1 | 3,276 | 1,169 | 2,136 | -1,276 | 871 | 326 | -86 | -861 | 638 | 336 | 974 | 436 | -452 | 911 | 673 | 1,584 | 570 | 46 |
| Net margin | 7.37% | 3.13% | 6.37% | -4.29% | 5.83% | 1.11% | -0.65% | -5.83% | 3.98% | 2.02% | 2.98% | 2.55% | -2.62% | 4.94% | 3.6% | 4.27% | 3.25% | 0.25% |
| EPS | 71.05 | 26.63 | 47.62 | - | 19.43 | 7.280 | -1.930 | -19.19 | 14.20 | 7.460 | 21.66 | 9.710 | -10.06 | 20.27 | 14.96 | 35.23 | 12.69 | - |
| Dividend per Share | 31.00 | - | 16.00 | - | 18.00 | 18.00 | - | 18.00 | - | - | 19.00 | - | 19.00 | - | 20.00 | 20.00 | - | - |
| Announcement Date | 10/29/19 | 5/8/20 | 10/29/20 | 5/11/21 | 10/29/21 | 10/29/21 | 2/1/22 | 5/11/22 | 7/29/22 | 11/2/22 | 11/2/22 | 2/2/23 | 5/12/23 | 7/31/23 | 10/31/23 | 10/31/23 | 2/2/24 | - |
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 | 26,236 | 15,636 | 12,449 | 19,792 | 17,493 | 22,753 | 25,202 | 28,596 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 3,028 | -3,055 | 528 | 7,508 | 2,808 | 2,712 | 3,312 | 3,901 |
| ROE (net income / shareholders' equity) | 7.3% | 6.5% | 1.3% | -1% | 1.5% | 2.93% | 3.69% | 4.79% |
| ROA (Net income/ Total Assets) | 8.75% | 7.25% | -0.3% | -2.14% | 2.5% | 2% | 2.9% | 3.8% |
| Assets 1 | 58,156 | 61,333 | -282,839 | 29,055 | 38,366 | 110,000 | 83,353 | 83,684 |
| Book Value Per Share 2 | 1,496 | 1,495 | 1,431 | 1,408 | 1,448 | 1,456 | 1,474 | 1,504 |
| Cash Flow per Share 2 | 185.0 | 194.0 | 127.0 | 105.0 | 132.0 | 97.60 | 137.0 | 166.0 |
| Capex 1 | 5,162 | 10,414 | 8,487 | 2,345 | 1,856 | 2,424 | 2,555 | 2,622 |
| Capex / Sales | 6.53% | 12.74% | 13.41% | 4.09% | 2.77% | 3.32% | 3.32% | 3.26% |
| Announcement Date | 5/14/19 | 5/8/20 | 5/11/21 | 5/11/22 | 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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
HOLD
Number of Analysts
5
Last Close Price
1,300
JPY
Average target price
1,385
JPY
Spread / Average Target
+6.54%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +4.23% | 377M | |
| +11.37% | 382B | |
| +8.95% | 129B | |
| -16.24% | 62.7B | |
| +0.31% | 52.62B | |
| -12.59% | 36.49B | |
| +3.57% | 33.44B | |
| +9.84% | 17.62B | |
| +7.81% | 14.93B | |
| -8.87% | 10.76B |
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- Financials Mandom Corporation
