Financials Rorze Corporation

Equities

6323

JP3982200002

Semiconductor Equipment & Testing

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-09-13 am EDT			5-day change	1st Jan Change
1,860.00 ^JPY	+0.27%		+1.25%	+23.51%

Sep. 13	Typhoon 11 Causes Partial Damage to Rorze's Vietnamese Subsidiary	MT
Jul. 11	Rorze's Attributable Profit Surges 146.7% in Fiscal Q1	MT

Projected Income Statement: Rorze Corporation

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	37,103	50,803	67,004	94,518	93,247	125,061	137,824	148,008
Change	-	36.92%	31.89%	41.06%	-1.34%	34.12%	10.21%	7.39%
EBITDA ¹	-	10,604	17,331	28,398	26,582	38,080	41,071	44,423
Change	-	-	63.44%	63.85%	-6.39%	43.25%	7.86%	8.16%
EBIT ¹	7,743	9,314	15,809	26,418	24,138	33,603	37,171	40,375
Change	-	20.29%	69.73%	67.11%	-8.63%	39.21%	10.62%	8.62%
Interest Paid	-33	-44	-38	-49	-70	-	-	-
Earnings before Tax (EBT) ¹	7,504	8,943	18,485	30,352	27,066	38,141	38,400	44,945
Change	-	19.18%	106.7%	64.2%	-10.83%	40.92%	0.68%	17.04%
Net income ¹	5,470	6,470	12,824	21,384	19,576	24,940	26,868	30,012
Change	-	18.28%	98.21%	66.75%	-8.45%	27.4%	7.73%	11.7%
Announcement Date	4/10/20	4/12/21	4/11/22	4/11/23	4/11/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: February	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	8,694	8,805	10,711	10,841	13,878	13,471	12,613	14,442	15,057	17,092	20,413	21,688	24,065	25,629	23,136	16,693	24,299	24,170	28,085	29,288	31,571	30,820	32,825
Change	-	1.28%	21.65%	1.21%	28.01%	-2.93%	-6.37%	14.5%	4.26%	13.52%	19.43%	6.25%	10.96%	6.5%	-9.73%	-27.85%	45.56%	-0.53%	16.2%	4.28%	7.8%	-2.38%	6.51%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,263	1,852	1,477	1,902	2,845	2,681	1,886	2,848	3,833	4,093	5,035	5,029	5,903	6,807	8,679	4,718	5,234	5,811	8,375	8,748	7,626	7,715	8,560
Change	-	-18.16%	-20.25%	28.77%	49.58%	-5.76%	-29.65%	51.01%	34.59%	6.78%	23.01%	-0.12%	17.38%	15.31%	27.5%	-45.64%	10.94%	11.02%	44.12%	4.45%	-12.83%	1.17%	10.95%
Charge d'intérêts	-	-8	-	-11	-	-11	-	-9	-	-10	-	-11	-	-13	-	-18	-	-17	-	-16	-	-	-
Earnings before Tax (EBT)	2,029	1,969	1,336	1,896	2,600	2,418	2,029	3,557	4,601	4,659	5,668	7,181	-	9,751	3,694	5,208	8,664	7,447	5,745	11,362	-	-	-
Change	-	-2.96%	-32.15%	41.92%	37.13%	-7%	-16.09%	75.31%	29.35%	1.26%	21.66%	26.69%	-100%	-	-62.12%	40.99%	66.36%	-14.05%	-22.85%	97.77%	-100%	-	-
Net income ¹	1,263	1,445	1,093	1,571	1,719	1,821	1,359	2,696	2,802	3,217	4,109	5,126	7,240	7,300	1,718	3,557	6,278	5,652	4,089	8,774	11,726	5,210	5,690
Change	-	14.41%	-24.36%	43.73%	9.42%	5.93%	-25.37%	98.38%	3.93%	14.81%	27.73%	24.75%	41.24%	0.83%	-76.47%	107.04%	76.5%	-9.97%	-27.65%	114.58%	33.64%	-55.57%	9.21%
Announcement Date	10/10/19	1/10/20	4/10/20	7/10/20	10/9/20	1/8/21	4/12/21	7/12/21	10/11/21	1/12/22	4/11/22	7/11/22	10/11/22	1/11/23	4/11/23	7/11/23	10/11/23	1/11/24	4/11/24	7/11/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: February	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	19,516	24,719	26,084	29,499	37,505	45,753	48,765	40,992	52,255	61,950	63,050
Change	-	26.66%	5.52%	13.09%	27.14%	21.99%	6.58%	-15.94%	27.48%	18.55%	1.78%
EBITDA	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	3,329	4,747	4,567	6,681	9,128	10,932	15,486	9,952	14,186	17,140	15,160
Change	-	42.6%	-3.79%	46.29%	36.63%	19.76%	41.66%	-35.74%	42.54%	20.82%	-11.55%
Charge d'intérêts	-	-23	-	-18	-	-23	-	-37	-	-	-
Earnings before Tax (EBT)	3,305	4,496	4,447	8,158	10,327	16,907	13,445	13,874	13,192	-	-
Change	-	36.04%	-1.09%	83.45%	26.59%	63.72%	-20.48%	3.19%	-4.92%	-100%	-
Net income ¹	2,538	3,290	3,180	5,498	7,326	12,366	9,018	9,835	9,741	12,600	10,900
Change	-	29.63%	-3.34%	72.89%	33.25%	68.8%	-27.07%	9.06%	-0.96%	29.35%	-13.49%
Announcement Date	4/10/20	10/9/20	4/12/21	10/11/21	4/11/22	10/11/22	4/11/23	10/11/23	4/11/24	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Rorze Corporation

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	4,853	-57	-2,746	4,531	-3,438	-22,176	-43,855	-73,859
Change	-	-101.17%	-4,917.54%	65%	-175.88%	-745.03%	-297.76%	-268.42%
Announcement Date	4/10/20	4/12/21	4/11/22	4/11/23	4/11/24	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Rorze Corporation

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	6,279	2,154	2,658	4,715	1,596	5,200	3,000	3,000
Change	-	-65.7%	23.4%	77.39%	-66.15%	225.81%	-42.31%	0%
Free Cash Flow (FCF) ¹	380	6,003	2,100	-6,430	13,948	-	-	-
Change	-	1,479.74%	-65.02%	-406.22%	-316.92%	-100%	-	-
Announcement Date	4/10/20	4/12/21	4/11/22	4/11/23	4/11/24	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Rorze Corporation

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	20.87%	25.87%	30.05%	28.51%	30.45%	29.8%	30.01%
EBIT Margin (%)	20.87%	18.33%	23.59%	27.95%	25.89%	26.87%	26.97%	27.28%
EBT Margin (%)	20.22%	17.6%	27.59%	32.11%	29.03%	30.5%	27.86%	30.37%
Net margin (%)	14.74%	12.74%	19.14%	22.62%	20.99%	19.94%	19.49%	20.28%
FCF margin (%)	1.02%	11.82%	3.13%	-6.8%	14.96%	-	-	-
FCF / Net Income (%)	6.95%	92.78%	16.37%	-30.07%	71.25%	-	-	-
Profitability
ROA	14.7%	-	24.11%	28.26%	19.16%	21.04%	19.9%	18.82%
ROE	23.9%	23%	33.7%	37.7%	24.4%	24.36%	21.28%	21.22%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	0.16x	-	-	-	-
Debt / Free cash flow	12.77x	-	-	-0.7x	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	16.92%	4.24%	3.97%	4.99%	1.71%	4.16%	2.18%	2.03%
CAPEX / EBITDA (%)	-	20.31%	15.34%	16.6%	6%	13.66%	7.3%	6.75%
CAPEX / FCF (%)	1,652.37%	35.88%	126.59%	-73.33%	11.44%	-	-	-
Items per share
Cash flow per share ¹	37.21	44.9	83.01	135.2	125.6	176.9	175.8	209.3
Change	-	20.69%	84.86%	62.87%	-7.13%	40.9%	-0.63%	19.05%
Dividend per Share ¹	3	3	6.5	13.5	13.5	16	18.25	20
Change	-	0%	116.67%	107.69%	0%	18.52%	14.06%	9.59%
Book Value Per Share ¹	146.4	178.5	262.4	394.8	523.3	665.2	803.5	971.9
Change	-	21.94%	47.02%	50.43%	32.56%	27.12%	20.78%	20.96%
EPS ¹	31.66	37.44	74.21	123.7	111.1	141.6	151.3	164.3
Change	-	18.27%	98.21%	66.75%	-10.21%	27.42%	6.86%	8.64%
Nbr of stocks (in thousands)	172,814	172,814	172,813	172,813	176,202	176,053	176,053	176,053
Announcement Date	4/10/20	4/12/21	4/11/22	4/11/23	4/11/24	-	-	-