Financials Olympus Corporation

Equities

7733

JP3201200007

Advanced Medical Equipment & Technology

Market Closed - Japan Exchange 02:00:00 2024-04-26 am EDT 5-day change 1st Jan Change
2,174 JPY -0.57% Intraday chart for Olympus Corporation +3.72% +6.57%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,641,547 2,008,074 2,945,342 2,977,530 2,906,166 2,534,645 - -
Enterprise Value (EV) 1 1,706,301 2,126,495 3,072,860 3,061,085 3,076,894 2,470,008 2,408,036 2,321,910
P/E ratio 201 x 39.7 x 228 x 25.9 x 20.5 x 10.1 x 23.5 x 19.2 x
Yield 0.62% 0.64% 0.52% 0.6% 0.69% 0.82% 0.91% 1.04%
Capitalization / Revenue 2.07 x 2.52 x 4.03 x 3.43 x 3.3 x 2.73 x 2.56 x 2.43 x
EV / Revenue 2.15 x 2.67 x 4.21 x 3.52 x 3.49 x 2.66 x 2.43 x 2.22 x
EV / EBITDA 19.6 x 14 x 21.7 x 14 x 12.1 x 16.3 x 10.3 x 8.71 x
EV / FCF 86 x 37.7 x 122 x 31 x 76.8 x 7.18 x 25.6 x 22.7 x
FCF Yield 1.16% 2.65% 0.82% 3.22% 1.3% 13.9% 3.91% 4.4%
Price to Book 3.72 x 5.42 x 7.47 x 5.84 x 4.54 x 3.46 x 3.13 x 2.83 x
Nbr of stocks (in thousands) 1,365,680 1,285,579 1,285,614 1,272,993 1,253,468 1,165,622 - -
Reference price 2 1,202 1,562 2,291 2,339 2,318 2,174 2,174 2,174
Announcement Date 5/10/19 5/29/20 5/7/21 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 1 793,862 797,411 730,544 868,867 881,923 929,526 989,034 1,044,889
EBITDA 1 86,950 151,778 141,922 218,513 253,350 151,450 233,386 266,464
EBIT 1 28,281 83,469 81,985 153,898 186,609 69,694 161,028 189,423
Operating Margin 3.56% 10.47% 11.22% 17.71% 21.16% 7.5% 16.28% 18.13%
Earnings before Tax (EBT) 1 20,117 77,798 76,810 149,873 182,294 55,620 155,304 186,631
Net income 1 8,147 51,670 12,918 115,742 143,432 258,677 110,078 133,202
Net margin 1.03% 6.48% 1.77% 13.32% 16.26% 27.83% 11.13% 12.75%
EPS 2 5.970 39.37 10.05 90.22 113.2 214.5 92.58 113.2
Free Cash Flow 1 19,849 56,360 25,187 98,713 40,076 344,076 94,171 102,207
FCF margin 2.5% 7.07% 3.45% 11.36% 4.54% 37.02% 9.52% 9.78%
FCF Conversion (EBITDA) 22.83% 37.13% 17.75% 45.17% 15.82% 227.19% 40.35% 38.36%
FCF Conversion (Net income) 243.64% 109.08% 194.98% 85.29% 27.94% 133.01% 85.55% 76.73%
Dividend per Share 2 7.500 10.00 12.00 14.00 16.00 17.86 19.89 22.68
Announcement Date 5/10/19 5/29/20 5/7/21 5/11/22 5/12/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 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 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 389,189 408,222 316,500 414,044 221,500 413,100 216,698 239,110 214,100 255,700 469,800 224,485 187,638 412,123 207,723 228,900 436,600 239,070 255,090 508,756 224,978 241,247 249,067 272,772
EBITDA - - - - 64,736 - 48,772 61,610 58,500 - - - - - - - - - - - - - - -
EBIT 1 50,937 32,532 30,292 51,693 48,600 76,300 32,654 44,988 40,800 47,900 88,700 48,969 48,940 97,909 22,476 -17,700 4,800 34,246 22,746 50,711 26,438 34,842 41,142 41,831
Operating Margin 13.09% 7.97% 9.57% 12.48% 21.94% 18.47% 15.07% 18.81% 19.06% 18.73% 18.88% 21.81% 26.08% 23.76% 10.82% -7.73% 1.1% 14.32% 8.92% 9.97% 11.75% 14.44% 16.52% 15.34%
Earnings before Tax (EBT) 1 48,569 29,229 28,331 48,479 46,900 73,800 29,789 46,238 38,200 51,088 89,321 50,049 42,924 92,973 19,710 -20,700 -1,000 33,976 16,678 48,958 25,950 33,783 38,384 36,712
Net income 1 36,063 15,607 -22,702 35,620 43,700 62,400 25,270 28,075 24,900 42,000 66,800 41,381 35,251 76,632 240,560 -24,300 216,300 18,916 3,663 3,654 18,050 25,639 29,072 26,724
Net margin 9.27% 3.82% -7.17% 8.6% 19.73% 15.11% 11.66% 11.74% 11.63% 16.43% 14.22% 18.43% 18.79% 18.59% 115.81% -10.62% 49.54% 7.91% 1.44% 0.72% 8.02% 10.63% 11.67% 9.8%
EPS 2 26.93 12.44 -17.66 27.71 34.46 49.00 19.66 22.03 20.00 33.00 53.00 32.62 27.60 60.22 191.9 -17.90 174.0 17.78 12.61 3.000 13.00 - - -
Dividend per Share 2 - 10.00 - 12.00 - - - 14.00 - - - - - - - - - - 18.00 - - - - 20.00
Announcement Date 11/6/19 5/29/20 11/13/20 5/7/21 11/5/21 11/5/21 2/4/22 5/11/22 8/9/22 11/11/22 11/11/22 2/10/23 5/12/23 5/12/23 8/9/23 11/9/23 11/9/23 2/14/24 - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 64,754 118,421 127,518 83,555 170,728 - - -
Net Cash position 1 - - - - - 64,637 126,610 212,735
Leverage (Debt/EBITDA) 0.7447 x 0.7802 x 0.8985 x 0.3824 x 0.6739 x - - -
Free Cash Flow 1 19,849 56,360 25,187 98,713 40,076 344,076 94,171 102,207
ROE (net income / shareholders' equity) 1.8% 12.7% 3.4% 25.6% 24.9% 36.5% 14.4% 15.6%
ROA (Net income/ Total Assets) 2.11% 7.99% 6.99% 11.8% 12.7% 7.7% 9.39% 11.1%
Assets 1 386,897 646,786 184,720 980,399 1,127,630 3,360,750 1,172,667 1,194,909
Book Value Per Share 2 323.0 288.0 307.0 401.0 511.0 629.0 694.0 768.0
Cash Flow per Share 2 48.90 91.40 56.70 141.0 166.0 185.0 167.0 193.0
Capex 1 66,830 77,184 59,227 75,503 72,023 82,152 77,309 80,650
Capex / Sales 8.42% 9.68% 8.11% 8.69% 8.17% 8.84% 7.82% 7.72%
Announcement Date 5/10/19 5/29/20 5/7/21 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
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
2,174 JPY
Average target price
2,430 JPY
Spread / Average Target
+11.75%
Consensus
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  4. Financials Olympus Corporation