Financials Mimaki Engineering Co., Ltd.

Equities

6638

JP3907150001

Computer Hardware

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,181 ^JPY	+2.07%		+2.52%	+27.68%

2023	Mimaki Engineering Co., Ltd. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024	CI
2023	Mimaki Engineering Co., Ltd. Declares Dividend for the Second Quarter of Fiscal Year Ending March 31, 2024, Payable on December 7, 2023	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	19,444	12,181	18,522	19,740	19,253	33,998	-	-
Enterprise Value (EV) ¹	31,124	25,514	25,160	34,634	37,617	33,998	33,998	33,998
P/E ratio	11.4 x	-15.7 x	-61.5 x	8.53 x	6.86 x	8.5 x	6.3 x	5.76 x
Yield	2.38%	1.82%	1.19%	2.19%	2.62%	1.69%	1.69%	1.69%
Capitalization / Revenue	0.35 x	0.22 x	0.38 x	0.33 x	0.27 x	0.45 x	0.4 x	0.38 x
EV / Revenue	0.35 x	0.22 x	0.38 x	0.33 x	0.27 x	0.45 x	0.4 x	0.38 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-16.9 x	-16 x	2.99 x	-	-7.28 x	20.5 x	53.1 x	11.3 x
FCF Yield	-5.92%	-6.26%	33.5%	-	-13.7%	4.87%	1.88%	8.87%
Price to Book	1.03 x	0.77 x	1.15 x	1.06 x	0.88 x	-	-	-
Nbr of stocks (in thousands)	30,814	29,494	29,494	28,775	28,779	28,788	-	-
Reference price ²	631.0	413.0	628.0	686.0	669.0	1,181	1,181	1,181
Announcement Date	5/10/19	5/27/20	5/11/21	5/12/22	5/15/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	55,448	55,557	48,722	59,511	70,607	76,000	85,000	89,000
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	3,008	1,353	-509	2,569	4,241	6,300	8,000	8,700
Operating Margin	5.42%	2.44%	-1.04%	4.32%	6.01%	8.29%	9.41%	9.78%
Earnings before Tax (EBT) ¹	2,660	57	-271	2,778	3,849	5,700	7,700	8,400
Net income ¹	1,680	-777	-301	2,347	2,807	4,000	5,400	5,900
Net margin	3.03%	-1.4%	-0.62%	3.94%	3.98%	5.26%	6.35%	6.63%
EPS ²	55.29	-26.24	-10.21	80.40	97.55	138.9	187.6	204.9
Free Cash Flow ¹	-1,151	-762	6,200	-	-2,643	1,655	640	3,015
FCF margin	-2.08%	-1.37%	12.73%	-	-3.74%	2.18%	0.75%	3.39%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	41.38%	11.85%	51.1%
Dividend per Share ²	15.00	7.500	7.500	15.00	17.50	20.00	20.00	20.00
Announcement Date	5/10/19	5/27/20	5/11/21	5/12/22	5/15/23	-	-	-

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	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
Net sales ¹	27,363	28,194	20,862	27,860	14,712	28,803	14,900	15,808	30,708	15,975	18,005	33,980	18,366	18,261	36,627	16,503	18,934	35,437	19,389	21,174	40,563
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	551	802	-1,902	1,393	915	1,691	594	284	878	856	1,029	1,885	1,241	1,115	2,356	539.4	1,792	2,332	1,615	2,354	3,969
Operating Margin	2.01%	2.84%	-9.12%	5%	6.22%	5.87%	3.99%	1.8%	2.86%	5.36%	5.72%	5.55%	6.76%	6.11%	6.43%	3.27%	9.47%	6.58%	8.33%	11.12%	9.78%
Earnings before Tax (EBT) ¹	462	-405	-2,032	-	924	1,732	620	426	1,046	926	-	1,768	1,063	-	-	487	-	2,016	1,435	2,283	3,686
Net income ¹	181	-958	-1,453	1,152	906	1,564	512	271	783	674	622	1,296	661	850	1,511	255	1,158	1,413	1,025	1,563	2,588
Net margin	0.66%	-3.4%	-6.96%	4.13%	6.16%	5.43%	3.44%	1.71%	2.55%	4.22%	3.45%	3.81%	3.6%	4.65%	4.13%	1.55%	6.12%	3.99%	5.29%	7.38%	6.38%
EPS	6.110	-	-49.28	-	-	53.06	17.73	-	-	23.44	-	45.06	22.97	-	-	8.860	-	49.09	35.61	-	-
Dividend per Share	7.500	-	-	-	-	7.500	-	-	-	-	-	7.500	-	-	-	-	-	10.00	-	-	-
Announcement Date	11/8/19	5/27/20	11/11/20	5/11/21	11/10/21	11/10/21	2/10/22	5/12/22	5/12/22	8/9/22	11/9/22	11/9/22	3/13/23	5/15/23	5/15/23	8/10/23	11/14/23	11/14/23	2/14/24	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	11,680	13,333	6,638	14,894	18,364	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-1,151	-762	6,200	-	-2,643	1,655	640	3,015
ROE (net income / shareholders' equity)	9.2%	-4.5%	-1.9%	13.5%	13.8%	-	-	-
ROA (Net income/ Total Assets)	4.7%	1.68%	0.7%	4.81%	5.8%	-	-	-
Assets ¹	35,749	-46,277	-43,201	48,763	48,393	-	-	-
Book Value Per Share	614.0	538.0	548.0	648.0	763.0	-	-	-
Cash Flow per Share	111.0	33.00	43.30	138.0	161.0	-	-	-
Capex ¹	1,556	1,040	434	1,216	3,133	2,600	2,400	2,400
Capex / Sales	2.81%	1.87%	0.89%	2.04%	4.44%	3.42%	2.82%	2.7%
Announcement Date	5/10/19	5/27/20	5/11/21	5/12/22	5/15/23	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Mimaki Engineering Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,181 JPY

Average target price

2,000 JPY

Spread / Average Target

+69.35%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Computer Peripherals

	1st Jan change	Capi.
MIMAKI ENGINEERING CO., LTD.	+27.68%	216M
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DIEBOLD NIXDORF, INCORPORATED	+12.69%	1.2B
CHENBRO MICOM CO., LTD.	+6.63%	1.07B
NIDEC CHAUN-CHOUNG TECHNOLOGY CORPORATION	+96.67%	805M
EIZO CORPORATION	+1.01%	652M
SUZHOU LONGWAY ELETRONIC MACHINERY CO., LTD	+7.47%	650M

Computer Peripherals