Financials Shibaura Machine Co.,Ltd.

Equities

6104

JP3592600005

Industrial Machinery & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
3,475 ^JPY	+0.58%		+2.06%	+0.43%

Mar. 01	Shibaura Machine Co.,Ltd. completed the acquisition of Pokka Machine Co.,Ltd. from POKKA SAPPORO Food & Beverage Ltd.	CI
Jan. 31	Shibaura Machine Co.,Ltd. agreed to acquire Pokka Machine Co.,Ltd. from POKKA SAPPORO Food & Beverage Ltd.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	53,750	51,794	67,487	82,608	76,112	83,981	-	-
Enterprise Value (EV) ¹	42,548	18,173	39,460	45,115	39,268	83,981	83,981	83,981
P/E ratio	13.2 x	7.06 x	-23.3 x	22.2 x	11.8 x	4.7 x	7.67 x	8.48 x
Yield	2.02%	3.96%	7.13%	2.19%	3.41%	4.03%	4.75%	4.89%
Capitalization / Revenue	0.46 x	0.44 x	0.73 x	0.77 x	0.62 x	0.54 x	0.47 x	0.52 x
EV / Revenue	0.46 x	0.44 x	0.73 x	0.77 x	0.62 x	0.54 x	0.47 x	0.52 x
EV / EBITDA	9.43 x	-	-	13.3 x	9.6 x	5.38 x	4.54 x	4.77 x
EV / FCF	-15.9 x	14.5 x	-42 x	8.23 x	205 x	9.3 x	11 x	5.32 x
FCF Yield	-6.27%	6.89%	-2.38%	12.1%	0.49%	10.8%	9.09%	18.8%
Price to Book	0.65 x	0.6 x	0.82 x	0.99 x	0.85 x	0.85 x	0.79 x	0.75 x
Nbr of stocks (in thousands)	24,136	24,135	24,146	24,154	24,163	24,167	-	-
Reference price ²	2,227	2,146	2,795	3,420	3,150	3,475	3,475	3,475
Announcement Date	5/9/19	5/27/20	5/12/21	5/26/22	5/15/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	117,405	116,761	92,635	107,777	123,197	156,500	178,000	162,000
EBITDA ¹	5,702	-	-	6,188	7,932	15,600	18,500	17,600
EBIT ¹	3,834	3,529	381	4,236	5,765	13,300	15,750	14,100
Operating Margin	3.27%	3.02%	0.41%	3.93%	4.68%	8.5%	8.85%	8.7%
Earnings before Tax (EBT) ¹	5,742	12,648	267	4,079	6,480	25,700	14,500	15,700
Net income ¹	4,079	7,338	-2,898	3,725	6,441	17,850	10,950	9,900
Net margin	3.47%	6.28%	-3.13%	3.46%	5.23%	11.41%	6.15%	6.11%
EPS ²	169.0	304.1	-120.0	154.3	266.6	738.6	453.1	409.6
Free Cash Flow ¹	-3,371	3,571	-1,607	10,035	371	9,034	7,630	15,775
FCF margin	-2.87%	3.06%	-1.73%	9.31%	0.3%	5.77%	4.29%	9.74%
FCF Conversion (EBITDA)	-	-	-	162.17%	4.68%	57.91%	41.24%	89.63%
FCF Conversion (Net income)	-	48.66%	-	269.4%	5.76%	50.61%	69.68%	159.34%
Dividend per Share ²	45.00	85.00	199.3	75.00	107.5	140.0	165.0	170.0
Announcement Date	5/9/19	5/27/20	5/12/21	5/26/22	5/15/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Marzo	2020 S1	2020 S2	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 S1	2025 Q3	2025 Q4
Net sales ¹	59,586	57,175	42,307	28,099	53,697	24,500	29,580	26,484	32,468	58,952	29,614	34,631	34,754	47,161	81,915	27,633	38,500	33,000	45,000	78,000	38,000	46,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,637	1,892	-315	1,955	2,377	684	1,175	422	1,248	1,670	1,671	2,424	2,625	5,539	8,164	1,490	3,900	2,700	5,000	7,700	2,200	5,100
Operating Margin	2.75%	3.31%	-0.74%	6.96%	4.43%	2.79%	3.97%	1.59%	3.84%	2.83%	5.64%	7%	7.55%	11.74%	9.97%	5.39%	10.13%	8.18%	11.11%	9.87%	5.79%	11.09%
Earnings before Tax (EBT)	2,383	-	-997	-	2,345	413	-	693	-	1,954	662	-	3,471	-	19,882	1,579	-	-	-	-	-	-
Net income	1,620	5,718	-1,052	-	1,792	389	-	20	-	1,847	698	-	2,692	-	14,359	1,020	-	-	-	-	-	-
Net margin	2.72%	10%	-2.49%	-	3.34%	1.59%	-	0.08%	-	3.13%	2.36%	-	7.75%	-	17.53%	3.69%	-	-	-	-	-	-
EPS	67.15	-	-43.59	-	74.22	16.11	-	0.8400	-	76.49	28.87	-	111.4	-	594.2	42.20	-	-	-	-	-	-
Dividend per Share	42.50	-	161.8	-	37.50	-	-	-	-	37.50	-	-	-	-	70.00	-	-	-	-	-	-	-
Announcement Date	11/8/19	5/27/20	11/9/20	11/9/21	11/9/21	1/31/22	5/26/22	7/29/22	11/9/22	11/9/22	1/31/23	5/15/23	7/31/23	11/8/23	11/8/23	1/31/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: Marzo	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	11,202	33,621	28,027	37,493	36,844	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-3,371	3,571	-1,607	10,035	371	9,034	7,630	15,775
ROE (net income / shareholders' equity)	5%	8.6%	-3.4%	4.6%	7.5%	18.5%	10.5%	7.3%
ROA (Net income/ Total Assets)	3.69%	2.51%	0.6%	3.02%	2.84%	8.3%	4.9%	3.5%
Assets ¹	110,504	292,567	-479,531	123,491	226,996	215,060	223,469	282,857
Book Value Per Share ²	3,447	3,605	3,402	3,458	3,688	4,065	4,382	4,633
Cash Flow per Share	246.0	378.0	-47.40	235.0	356.0	-	-	-
Capex ¹	1,195	1,741	1,799	1,810	2,160	6,400	5,000	5,000
Capex / Sales	1.02%	1.49%	1.94%	1.68%	1.75%	4.09%	2.81%	3.09%
Announcement Date	5/9/19	5/27/20	5/12/21	5/26/22	5/15/23	-	-	-

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

Ratings for Shibaura Machine Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

3,475 JPY

Average target price

3,685 JPY

Spread / Average Target

+6.04%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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