Financials Noritake Co., Limited

Equities

5331

JP3763000001

Industrial Machinery & Equipment

Market Closed - Japan Exchange 02:00:00 2024-04-26 am EDT 5-day change 1st Jan Change
4,045 JPY +1.00% Intraday chart for Noritake Co., Limited +4.66% +18.10%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 76,161 49,569 51,244 64,375 66,248 117,262 - -
Enterprise Value (EV) 1 68,010 44,782 47,357 57,377 65,209 117,262 117,262 117,262
P/E ratio 7.84 x 14.5 x 18.2 x 7.1 x 6.61 x 9.83 x 9.09 x 8.47 x
Yield 1.7% 2.91% 1.69% 3.36% 4.47% 3.09% 3.58% 3.96%
Capitalization / Revenue 0.61 x 0.41 x 0.48 x 0.5 x 0.47 x 0.84 x 0.85 x 0.82 x
EV / Revenue 0.61 x 0.41 x 0.48 x 0.5 x 0.47 x 0.84 x 0.85 x 0.82 x
EV / EBITDA 6.6 x 5.73 x 6.98 x 4.58 x 4.82 x 7.42 x 6.62 x 6.01 x
EV / FCF 25.9 x 65.3 x 38 x 9.18 x -17.7 x 10.8 x 9.95 x 13.2 x
FCF Yield 3.86% 1.53% 2.63% 10.9% -5.64% 9.24% 10.1% 7.55%
Price to Book 0.73 x 0.49 x 0.46 x 0.54 x 0.52 x 0.86 x 0.8 x 0.76 x
Nbr of stocks (in thousands) 28,740 28,819 28,870 28,868 28,866 28,989 - -
Reference price 2 2,650 1,720 1,775 2,230 2,295 4,045 4,045 4,045
Announcement Date 5/9/19 5/12/20 5/11/21 5/10/22 5/11/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 125,802 120,611 107,000 127,641 139,494 139,400 138,700 142,300
EBITDA 1 11,541 8,649 7,341 14,057 13,742 15,800 17,700 19,500
EBIT 1 7,484 4,207 2,557 9,353 8,969 10,800 12,300 13,800
Operating Margin 5.95% 3.49% 2.39% 7.33% 6.43% 7.75% 8.87% 9.7%
Earnings before Tax (EBT) 1 12,326 4,973 4,096 11,485 12,583 15,246 16,490 17,700
Net income 1 9,707 3,415 2,806 9,068 10,024 11,926 12,900 13,850
Net margin 7.72% 2.83% 2.62% 7.1% 7.19% 8.56% 9.3% 9.73%
EPS 2 337.9 118.6 97.27 314.1 347.3 411.4 445.0 477.8
Free Cash Flow 1 2,938 759 1,350 7,012 -3,737 10,839 11,786 8,851
FCF margin 2.34% 0.63% 1.26% 5.49% -2.68% 7.78% 8.5% 6.22%
FCF Conversion (EBITDA) 25.46% 8.78% 18.39% 49.88% - 68.6% 66.59% 45.39%
FCF Conversion (Net income) 30.27% 22.23% 48.11% 77.33% - 90.89% 91.36% 63.91%
Dividend per Share 2 45.00 50.00 30.00 75.00 102.5 125.0 145.0 160.0
Announcement Date 5/9/19 5/12/20 5/11/21 5/10/22 5/11/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2020 S1 2021 S1 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 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 61,915 50,189 31,953 61,459 32,428 33,754 32,217 35,584 67,801 36,134 35,559 33,463 34,096 67,559 36,336 35,505 32,800 33,750 35,400 36,750
EBITDA - - - - - - - - - - - - - - - - - - - -
EBIT 1 2,690 -260 2,425 4,194 2,504 2,655 2,209 2,324 4,533 2,423 2,013 2,347 2,542 4,889 3,163 2,748 2,390 2,850 3,410 3,650
Operating Margin 4.34% -0.52% 7.59% 6.82% 7.72% 7.87% 6.86% 6.53% 6.69% 6.71% 5.66% 7.01% 7.46% 7.24% 8.7% 7.74% 7.29% 8.44% 9.63% 9.93%
Earnings before Tax (EBT) 3,739 581 - 5,177 3,448 - 3,333 - 6,429 3,944 - 3,543 - 7,546 4,185 - - - - -
Net income 2,814 -20 - 4,206 2,839 - 2,695 - 5,175 3,410 - 3,040 - 5,793 3,284 - - - - -
Net margin 4.54% -0.04% - 6.84% 8.75% - 8.37% - 7.63% 9.44% - 9.08% - 8.57% 9.04% - - - - -
EPS 97.78 -0.7200 - 145.7 98.36 - 93.36 - 179.3 118.1 - 105.3 - 200.3 113.3 - - - - -
Dividend per Share 25.00 15.00 - 35.00 - - - - 45.00 - - - - 60.00 - - - - - -
Announcement Date 11/7/19 11/6/20 11/8/21 11/8/21 2/2/22 5/10/22 8/5/22 11/8/22 11/8/22 2/2/23 5/11/23 8/4/23 11/7/23 11/7/23 2/7/24 - - - - -
1JPY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 8,151 4,787 3,887 6,998 1,039 - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,938 759 1,350 7,012 -3,737 10,839 11,786 8,851
ROE (net income / shareholders' equity) 9.5% 3.3% 2.7% 7.9% 8.1% 9% 9.1% 9.2%
ROA (Net income/ Total Assets) 6.34% 4.24% 2.98% 7.86% 7.21% - - -
Assets 1 153,216 80,532 94,210 115,431 139,046 - - -
Book Value Per Share 2 3,610 3,493 3,842 4,092 4,441 4,716 5,031 5,349
Cash Flow per Share 479.0 273.0 263.0 477.0 513.0 - - -
Capex 1 5,299 8,965 4,553 4,899 6,110 8,000 9,000 9,000
Capex / Sales 4.21% 7.43% 4.26% 3.84% 4.38% 5.74% 6.49% 6.32%
Announcement Date 5/9/19 5/12/20 5/11/21 5/10/22 5/11/23 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
4,045 JPY
Average target price
4,675 JPY
Spread / Average Target
+15.57%
Consensus
  1. Stock Market
  2. Equities
  3. 5331 Stock
  4. Financials Noritake Co., Limited