MORI TRUST REIT, INC. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 72,800 JPY | +0.97% |
|
-1.22% | +0.41% |
| Apr. 23 | Mori Trust REIT to Borrow 2.5 Billion Yen to Repay Debt | MT |
| Apr. 23 | Mori Trust REIT's Asset Manager to Sell Sagamihara Retail Facility for 9 Billion Yen | MT |
Valuation
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 252,780 | 183,480 | 202,224 | 191,532 | 262,016 | 259,168 | - | - |
| Enterprise Value (EV) 1 | 388,372 | 316,700 | 334,644 | 330,851 | 262,016 | 259,168 | 471,044 | 469,313 |
| P/E ratio | 26.2 x | 18.6 x | 19.9 x | 20 x | - | 35.8 x | - | 22 x |
| Yield | 3.81% | 5.39% | 5.03% | 4.65% | - | 4.79% | - | 4.54% |
| Capitalization / Revenue | 14.4 x | 10.4 x | 11.4 x | 10.8 x | - | 21.5 x | - | 11.8 x |
| EV / Revenue | 22.1 x | 17.9 x | 18.9 x | 18.7 x | - | 21.5 x | - | 21.4 x |
| EV / EBITDA | 29.7 x | 23.8 x | 25.1 x | 25.8 x | - | 27.8 x | 30.8 x | 30.7 x |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | - | 1.15 x | - | - | 1.22 x | 1.11 x | - | - |
| Nbr of stocks (in thousands) | 2,640 | 2,640 | 2,640 | 2,640 | 3,560 | 3,560 | - | - |
| Reference price 2 | 95,750 | 69,500 | 76,600 | 72,550 | 73,600 | 72,800 | 72,800 | 72,800 |
| Announcement Date | 5/22/19 | 5/21/20 | 5/21/21 | 5/23/22 | 4/20/23 | 4/22/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,592 | 17,701 | 17,671 | 17,731 | 12,081 | - | 21,966 |
| EBITDA 1 | 13,088 | 13,313 | 13,337 | 12,846 | 16,968 | 15,308 | 15,290 |
| EBIT 1 | 10,557 | 10,740 | 10,901 | 10,606 | 7,937 | - | 13,506 |
| Operating Margin | 60.01% | 60.67% | 61.69% | 59.82% | 65.7% | - | 61.49% |
| Earnings before Tax (EBT) 1 | 9,643 | 9,894 | 10,175 | 9,891 | 13,580 | - | 11,778 |
| Net income 1 | 9,646 | 9,894 | 10,173 | 9,579 | 7,248 | - | 11,769 |
| Net margin | 54.83% | 55.89% | 57.57% | 54.02% | 59.99% | - | 53.58% |
| EPS 2 | 3,654 | 3,746 | 3,854 | 3,628 | 2,035 | - | 3,306 |
| Free Cash Flow | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - |
| Dividend per Share 2 | 3,650 | 3,747 | 3,854 | 3,372 | 3,486 | - | 3,306 |
| Announcement Date | 5/22/19 | 5/21/20 | 5/21/21 | 5/23/22 | 4/22/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: August | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,832 | 8,869 | 8,882 | 8,789 | 9,202 | 8,528 | 6,902 | 7,259 | 11,812 | 12,005 | 11,621 | 11,842 | 11,117 | 11,191 |
| EBITDA 1 | 6,624 | 6,690 | 6,746 | 6,591 | - | - | 4,544 | 4,972 | - | 8,693 | 8,246 | 8,520 | 7,774 | - |
| EBIT 1 | 5,342 | 5,398 | 5,437 | 5,464 | 5,563 | 5,042 | 3,428 | 4,058 | 7,189 | 7,729 | 7,239 | 7,493 | 6,828 | 6,871 |
| Operating Margin | 60.48% | 60.86% | 61.21% | 62.17% | 60.46% | 59.12% | 49.67% | 55.91% | 60.86% | 64.38% | 62.29% | 63.27% | 61.42% | 61.4% |
| Earnings before Tax (EBT) 1 | 4,897 | 4,996 | 5,059 | 5,116 | 5,205 | 4,685 | 3,044 | 3,732 | 6,536 | 6,980 | 6,444 | 6,644 | 6,042 | 6,106 |
| Net income 1 | 4,898 | 4,995 | 5,058 | 5,115 | 5,041 | 4,537 | 3,331 | 3,614 | 7,158 | 6,972 | 6,434 | 6,635 | 6,035 | 6,102 |
| Net margin | 55.46% | 56.32% | 56.95% | 58.2% | 54.78% | 53.2% | 48.26% | 49.79% | 60.6% | 58.07% | 55.37% | 56.03% | 54.29% | 54.52% |
| EPS 2 | 1,854 | 1,892 | 1,916 | 1,938 | 1,910 | 1,718 | 1,262 | 1,368 | 2,010 | 1,965 | 1,807 | 1,864 | 1,688 | 1,714 |
| Dividend per Share 2 | 1,854 | 1,892 | 1,916 | 1,938 | 1,775 | 1,598 | 1,500 | 2,545 | - | 1,768 | 1,681 | 1,709 | 1,714 | 1,714 |
| Announcement Date | 11/18/19 | 5/21/20 | 11/18/20 | 5/21/21 | 11/18/21 | 5/23/22 | 11/22/22 | 4/20/23 | 10/20/23 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 135,592 | 133,220 | 132,420 | 139,319 | - | 213,019 | 211,876 | 210,145 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 10.36 x | 10.01 x | 9.929 x | 10.85 x | - | 12.55 x | 13.84 x | 13.74 x |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | - | 6.18% | - | - | - | 7.2% | - | - |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | - | 60,629 | - | - | 60,123 | 65,507 | - | - |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | - | 595 | - | 28,822 | - | 30,094 | 772 | 794 |
| Capex / Sales | - | 3.36% | - | 162.56% | - | 126.36% | - | 3.61% |
| Announcement Date | 5/22/19 | 5/21/20 | 5/21/21 | 5/23/22 | 4/20/23 | 4/22/24 | - | - |
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
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +0.41% | 1.65B | |
| -15.09% | 12.04B | |
| -13.53% | 7.51B | |
| -7.21% | 5.46B | |
| -1.91% | 5.28B | |
| -11.21% | 5.15B | |
| -1.70% | 4.54B | |
| +0.51% | 4.5B | |
| -9.21% | 4.49B | |
| +3.97% | 3.86B |
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