Financials Osaka Gas Company., Ltd.

Equities

9532

JP3180400008

Natural Gas Utilities

Market Closed - Japan Exchange 02:00:00 2024-05-23 am EDT 5-day change 1st Jan Change
3,460 JPY -0.49% Intraday chart for Osaka Gas Company., Ltd. -1.73% +17.49%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 908,147 846,545 896,804 869,831 906,604 1,421,901 - -
Enterprise Value (EV) 1 1,387,150 1,353,094 1,502,199 1,537,955 1,716,568 1,387,161 2,182,650 2,295,474
P/E ratio 27 x 20.3 x 11.1 x 6.78 x 15.9 x 10.6 x 12.5 x 12.6 x
Yield 2.29% 2.46% 2.43% 2.75% 2.75% 2.43% 2.73% 2.7%
Capitalization / Revenue 0.66 x 0.62 x 0.66 x 0.55 x 0.4 x 0.67 x 0.69 x 0.69 x
EV / Revenue 1.01 x 0.99 x 1.1 x 0.97 x 0.75 x 0.67 x 1.06 x 1.11 x
EV / EBITDA 8.28 x 7.7 x 6.6 x 7.1 x 8.91 x 4.58 x 8.44 x 8.93 x
EV / FCF -9.97 x 20.7 x 29.9 x -226 x -10.1 x 12.1 x -173 x 2,152 x
FCF Yield -10% 4.83% 3.34% -0.44% -9.92% 8.23% -0.58% 0.05%
Price to Book 0.9 x 0.85 x 0.83 x 0.69 x 0.65 x 0.88 x 0.87 x 0.85 x
Nbr of stocks (in thousands) 415,818 415,788 415,765 415,789 415,683 408,945 - -
Reference price 2 2,184 2,036 2,157 2,092 2,181 3,477 3,477 3,477
Announcement Date 4/24/19 5/11/20 4/27/21 4/26/22 5/8/23 5/8/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,371,863 1,368,689 1,364,100 1,586,800 2,275,100 2,083,050 2,061,550 2,073,475
EBITDA 1 167,600 175,717 227,500 216,600 192,700 302,555 258,650 257,067
EBIT 1 67,900 83,792 112,400 94,900 60,000 172,553 131,500 131,225
Operating Margin 4.95% 6.12% 8.24% 5.98% 2.64% 8.28% 6.38% 6.33%
Earnings before Tax (EBT) 1 52,064 70,449 108,735 115,941 83,710 196,017 154,067 153,700
Net income 1 33,600 41,788 80,800 128,200 57,100 132,679 112,450 112,300
Net margin 2.45% 3.05% 5.92% 8.08% 2.51% 6.37% 5.45% 5.42%
EPS 2 80.80 100.5 194.5 308.5 137.4 320.6 277.3 275.3
Free Cash Flow 1 -139,076 65,318 50,190 -6,800 -170,300 114,188 -12,600 1,067
FCF margin -10.14% 4.77% 3.68% -0.43% -7.49% 5.48% -0.61% 0.05%
FCF Conversion (EBITDA) - 37.17% 22.06% - - 37.74% - 0.41%
FCF Conversion (Net income) - 156.31% 62.12% - - 86.06% - 0.95%
Dividend per Share 2 50.00 50.00 52.50 57.50 60.00 82.50 95.00 94.00
Announcement Date 4/24/19 5/11/20 4/27/21 4/26/22 5/8/23 5/8/24 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2021 S2 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 1 652,987 638,912 - 336,068 650,421 393,347 543,032 467,100 514,400 981,560 614,965 678,575 512,611 482,989 995,693 514,454 572,903 451,000 471,500 512,600 615,100
EBITDA - - - - - - - - - - - - - - - - - - - - -
EBIT 1 44,317 51,915 - 2,990 40,539 2,137 52,224 7,300 -45,100 -45,690 30,764 74,926 73,664 23,036 96,731 43,961 31,861 44,300 19,600 31,400 34,200
Operating Margin 6.79% 8.13% - 0.89% 6.23% 0.54% 9.62% 1.56% -8.77% -4.65% 5% 11.04% 14.37% 4.77% 9.71% 8.55% 5.56% 9.82% 4.16% 6.13% 5.56%
Earnings before Tax (EBT) 49,881 54,818 - 5,235 47,392 9,900 58,649 13,413 -54,872 -41,459 41,172 - 82,672 41,179 123,851 50,720 - 53,300 37,700 38,200 22,100
Net income 1 33,449 36,799 - 5,271 36,794 8,022 83,384 11,200 -40,900 -29,744 28,348 58,496 60,560 28,740 89,351 37,054 6,274 39,000 27,600 27,900 16,100
Net margin 5.12% 5.76% - 1.57% 5.66% 2.04% 15.36% 2.4% -7.95% -3.03% 4.61% 8.62% 11.81% 5.95% 8.97% 7.2% 1.1% 8.65% 5.85% 5.44% 2.62%
EPS 2 80.44 88.51 - 12.68 88.50 19.29 200.7 26.90 -98.50 -71.56 68.20 140.8 145.7 69.21 214.9 89.56 16.10 96.80 68.40 69.30 40.00
Dividend per Share 25.00 25.00 27.50 - 27.50 - - - - 30.00 - - - - 32.50 - - - - - -
Announcement Date 10/29/19 10/29/20 4/27/21 10/27/21 10/27/21 1/31/22 4/26/22 8/1/22 10/31/22 10/31/22 2/6/23 5/8/23 7/31/23 10/27/23 10/27/23 1/30/24 5/8/24 - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 479,003 506,549 605,395 668,124 809,964 584,008 760,748 873,573
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.858 x 2.883 x 2.661 x 3.085 x 4.203 x 2.15 x 2.941 x 3.398 x
Free Cash Flow 1 -139,076 65,318 50,190 -6,800 -170,300 114,188 -12,600 1,067
ROE (net income / shareholders' equity) 3.4% 4.2% 7.8% 11% 4.3% 8.9% 7.12% 6.72%
ROA (Net income/ Total Assets) 1.7% 4.13% 5.74% 4.52% 2.81% 7.81% 4.45% 3.25%
Assets 1 1,976,471 1,012,954 1,408,473 2,833,606 2,033,968 1,698,204 2,526,966 3,455,385
Book Value Per Share 2 2,415 2,399 2,602 3,031 3,347 3,858 3,977 4,110
Cash Flow per Share 305.0 334.0 451.0 583.0 439.0 635.0 - -
Capex 1 107,200 131,010 169,607 189,317 195,330 198,421 232,000 214,500
Capex / Sales 7.81% 9.57% 12.43% 11.93% 8.59% 9.53% 11.25% 10.34%
Announcement Date 4/24/19 5/11/20 4/27/21 4/26/22 5/8/23 5/8/24 - -
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
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
3,477 JPY
Average target price
3,734 JPY
Spread / Average Target
+7.39%
Consensus
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