MAX CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,275 JPY | +3.15% |
|
+3.64% | -0.30% |
| Feb. 13 | Max Co., Ltd. Revises Dividend Guidance for the Year Ending March 31, 2024 | CI |
| Feb. 13 | Max Co., Ltd. Revises Earnings Guidance for the Fiscal Year Ending March 31, 2024 | CI |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 79,622 | 81,430 | 76,119 | 80,556 | 100,281 | 152,348 | - | - |
| Enterprise Value (EV) 1 | 54,967 | 81,430 | 53,391 | 55,077 | 69,111 | 151,418 | 152,348 | 152,348 |
| P/E ratio | 15.8 x | 14.8 x | 15.5 x | 13.3 x | 13.2 x | 14.5 x | 14.9 x | 13.6 x |
| Yield | 2.7% | 2.76% | 2.93% | 3.76% | 3.68% | 3.1% | 3.05% | 3.36% |
| Capitalization / Revenue | 1.14 x | 1.17 x | 1.19 x | 1.09 x | 1.19 x | 1.75 x | 1.69 x | 1.63 x |
| EV / Revenue | 1.14 x | 1.17 x | 1.19 x | 1.09 x | 1.19 x | 1.75 x | 1.69 x | 1.63 x |
| EV / EBITDA | 8,459,598 x | - | 8,267,502 x | 7,814,183 x | - | - | - | - |
| EV / FCF | 17,067,896 x | 15,549,060 x | 22,069,843 x | 20,250,480 x | 21,304,584 x | - | - | - |
| FCF Yield | 0% | 0% | 0% | 0% | 0% | - | - | - |
| Price to Book | 1.08 x | 1.07 x | 0.99 x | 0.97 x | 1.13 x | 1.52 x | 1.52 x | 1.43 x |
| Nbr of stocks (in thousands) | 48,908 | 48,907 | 46,499 | 47,303 | 47,302 | 46,518 | - | - |
| Reference price 2 | 1,628 | 1,665 | 1,637 | 1,703 | 2,120 | 3,275 | 3,275 | 3,275 |
| Announcement Date | 4/26/19 | 5/13/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 70,118 | 69,671 | 64,029 | 73,958 | 84,316 | 86,638 | 90,400 | 93,600 |
| EBITDA | 9,412 | - | 9,207 | 10,309 | - | - | - | - |
| EBIT 1 | 7,150 | 7,586 | 6,685 | 7,498 | 9,926 | 12,601 | 13,700 | 15,400 |
| Operating Margin | 10.2% | 10.89% | 10.44% | 10.14% | 11.77% | 14.54% | 15.15% | 16.45% |
| Earnings before Tax (EBT) 1 | 7,124 | 7,432 | 7,032 | 8,249 | 10,300 | 13,699 | 14,000 | 15,400 |
| Net income 1 | 5,064 | 5,510 | 5,153 | 6,090 | 7,619 | 10,521 | 10,350 | 11,200 |
| Net margin | 7.22% | 7.91% | 8.05% | 8.23% | 9.04% | 12.14% | 11.45% | 11.97% |
| EPS 2 | 102.9 | 112.7 | 105.8 | 128.4 | 161.1 | 224.4 | 219.3 | 240.8 |
| Free Cash Flow | 4,665 | 5,237 | 3,449 | 3,978 | 4,707 | - | - | - |
| FCF margin | 6.65% | 7.52% | 5.39% | 5.38% | 5.58% | - | - | - |
| FCF Conversion (EBITDA) | 49.56% | - | 37.46% | 38.59% | - | - | - | - |
| FCF Conversion (Net income) | 92.12% | 95.05% | 66.93% | 65.32% | 61.78% | - | - | - |
| Dividend per Share 2 | 44.00 | 46.00 | 48.00 | 64.00 | 78.00 | 101.0 | 100.0 | 110.0 |
| Announcement Date | 4/26/19 | 5/13/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
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 S1 | 2023 Q3 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 34,885 | 30,040 | 18,358 | 35,521 | 18,918 | 19,519 | 20,336 | 41,963 | 21,917 | 21,200 | 21,720 | 42,920 | 22,412 | 21,306 | 43,718 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 4,065 | 3,004 | 2,019 | 3,810 | 1,873 | 1,815 | 2,191 | 4,436 | 3,159 | 3,510 | 3,139 | 6,649 | 3,230 | 2,722 | 5,952 |
| Operating Margin | 11.65% | 10% | 11% | 10.73% | 9.9% | 9.3% | 10.77% | 10.57% | 14.41% | 16.56% | 14.45% | 15.49% | 14.41% | 12.78% | 13.61% |
| Earnings before Tax (EBT) | 3,971 | 3,006 | 1,991 | 3,797 | 2,125 | - | 3,052 | 5,696 | 2,482 | 4,188 | - | 7,491 | 2,993 | - | - |
| Net income | 2,858 | 2,265 | 1,510 | 2,833 | 1,505 | 1,752 | 2,220 | 4,129 | 1,742 | 2,918 | - | 5,587 | 2,402 | - | - |
| Net margin | 8.19% | 7.54% | 8.23% | 7.98% | 7.96% | 8.98% | 10.92% | 9.84% | 7.95% | 13.76% | - | 13.02% | 10.72% | - | - |
| EPS | 58.44 | 46.32 | - | 59.56 | 31.82 | - | 46.95 | 87.29 | 36.85 | 61.71 | - | 118.5 | 51.43 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/30/19 | 10/28/20 | 10/29/21 | 10/29/21 | 1/31/22 | 4/28/22 | 7/29/22 | 10/28/22 | 1/31/23 | 7/31/23 | 10/31/23 | 10/31/23 | 1/31/24 | 4/26/24 | 4/26/24 |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | 24,655 | - | 22,728 | 25,479 | 31,170 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow | 4,665 | 5,237 | 3,449 | 3,978 | 4,707 | - | - | - |
| ROE (net income / shareholders' equity) | 7% | 7.4% | 6.7% | 7.5% | 8.9% | 11.2% | 10.5% | 10.8% |
| ROA (Net income/ Total Assets) | 7.47% | 7.5% | 6.76% | 5.76% | 9.31% | 11.5% | - | - |
| Assets 1 | 67,832 | 73,498 | 76,214 | 105,790 | 81,839 | 91,483 | - | - |
| Book Value Per Share 2 | 1,510 | 1,551 | 1,648 | 1,755 | 1,877 | 2,146 | 2,153 | 2,294 |
| Cash Flow per Share | 149.0 | 163.0 | 158.0 | 188.0 | 225.0 | 290.0 | - | - |
| Capex 1 | 3,149 | 3,093 | 4,987 | 4,387 | 3,541 | 4,615 | 4,700 | 4,800 |
| Capex / Sales | 4.49% | 4.44% | 7.79% | 5.93% | 4.2% | 5.29% | 5.2% | 5.13% |
| Announcement Date | 4/26/19 | 5/13/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
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
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.30% | 968M | |
| +54.30% | 3.74B | |
| +8.22% | 2.04B | |
| +0.43% | 1.99B | |
| -6.79% | 1.91B | |
| -16.05% | 1.38B | |
| -5.37% | 1.38B | |
| +15.70% | 1.36B | |
| -28.65% | 1.3B | |
| -17.02% | 1.24B |
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