Financials Shibaura Mechatronics Corporation

Equities

6590

JP3355000005

Semiconductor Equipment & Testing

Delayed Japan Exchange Other stock markets 02:00:00 2024-05-02 am EDT			5-day change	1st Jan Change
5,870 ^JPY	-2.00%		-1.84%	-1.18%

Mar. 11	Shibaura Mechatronics to Acquire 280 Million Yen Worth of Shares for Stock Compensation Program	MT
Feb. 08	Shibaura Mechatronics Corporation Revises Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,100	10,517	24,507	38,082	71,172	77,174	-	-
Enterprise Value (EV) ¹	13,032	8,766	15,820	21,967	52,783	77,174	77,174	77,174
P/E ratio	6.08 x	5.41 x	12.4 x	12.8 x	7.74 x	9.27 x	10.8 x	9.06 x
Yield	4.09%	4.62%	1.98%	2.67%	3.48%	2.98%	3.41%	3.41%
Capitalization / Revenue	0.28 x	0.22 x	0.55 x	0.77 x	1.17 x	1.16 x	1.19 x	1.1 x
EV / Revenue	0.28 x	0.22 x	0.55 x	0.77 x	1.17 x	1.16 x	1.19 x	1.1 x
EV / EBITDA	-	-	-	5,485,699 x	5,589,158 x	-	-	-
EV / FCF	-58,985,074 x	-11,059,080 x	3,812,529 x	4,888,539 x	38,828,333 x	-	-	-
FCF Yield	-0%	-0%	0%	0%	0%	-	-	-
Price to Book	0.82 x	0.53 x	1.12 x	1.55 x	2.16 x	-	-	-
Nbr of stocks (in thousands)	13,226	13,240	13,247	13,254	13,262	13,147	-	-
Reference price ²	1,142	794.3	1,850	2,873	5,367	5,870	5,870	5,870
Announcement Date	5/9/19	5/13/20	5/13/21	5/12/22	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	53,090	47,141	44,794	49,272	61,001	66,750	64,750	69,900
EBITDA	-	-	-	6,942	12,734	-	-	-
EBIT ¹	4,000	3,123	2,957	5,050	10,906	11,500	10,300	12,200
Operating Margin	7.53%	6.62%	6.6%	10.25%	17.88%	17.23%	15.91%	17.45%
Earnings before Tax (EBT) ¹	3,782	2,769	2,820	4,264	10,514	11,240	10,540	11,740
Net income ¹	2,480	1,944	1,969	2,983	9,198	8,325	7,135	8,515
Net margin	4.67%	4.12%	4.4%	6.05%	15.08%	12.47%	11.02%	12.18%
EPS ²	187.6	146.9	148.7	225.1	693.8	633.2	542.7	647.6
Free Cash Flow	-256	-951	6,428	7,790	1,833	-	-	-
FCF margin	-0.48%	-2.02%	14.35%	15.81%	3%	-	-	-
FCF Conversion (EBITDA)	-	-	-	112.22%	14.39%	-	-	-
FCF Conversion (Net income)	-	-	326.46%	261.15%	19.93%	-	-	-
Dividend per Share ²	46.67	36.67	36.67	76.67	186.7	175.0	200.0	200.0
Announcement Date	5/9/19	5/13/20	5/13/21	5/12/22	5/11/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2
Net sales ¹	24,247	22,894	23,339	21,455	11,816	21,916	11,753	15,603	27,356	13,821	15,435	29,256	16,201	15,544	31,745	14,254	16,257	30,511	17,388	19,601	36,989
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,019	1,104	1,645	1,303	1,189	1,846	1,127	2,077	3,204	2,120	2,479	4,599	3,717	2,590	6,307	2,129	2,887	5,016	3,088	3,396	6,484
Operating Margin	8.33%	4.82%	7.05%	6.07%	10.06%	8.42%	9.59%	13.31%	11.71%	15.34%	16.06%	15.72%	22.94%	16.66%	19.87%	14.94%	17.76%	16.44%	17.76%	17.33%	17.53%
Earnings before Tax (EBT) ¹	1,902	867	1,584	1,236	-	1,133	1,084	2,047	3,131	1,912	2,346	4,258	3,524	2,732	6,256	2,209	2,824	5,033	2,966	3,241	6,207
Net income ¹	1,321	623	1,144	825	943	751	772	1,460	2,232	1,675	1,739	3,414	2,725	3,059	5,784	1,794	2,080	3,874	2,176	2,100	4,276
Net margin	5.45%	2.72%	4.9%	3.85%	7.98%	3.43%	6.57%	9.36%	8.16%	12.12%	11.27%	11.67%	16.82%	19.68%	18.22%	12.59%	12.79%	12.7%	12.51%	10.71%	11.56%
EPS ²	99.87	47.04	86.43	62.30	71.30	56.74	58.21	110.2	168.4	126.4	131.2	257.6	205.5	230.7	436.2	135.3	157.1	292.4	165.3	475.4	325.2
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	186.7	186.7	-	-	-	-	-	-
Announcement Date	11/7/19	5/13/20	11/5/20	5/13/21	11/5/21	11/5/21	2/3/22	5/12/22	5/12/22	8/4/22	11/9/22	11/9/22	2/8/23	5/11/23	5/11/23	8/3/23	11/9/23	11/9/23	2/8/24	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	2,068	1,751	8,687	16,115	18,389	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-256	-951	6,428	7,790	1,833	-	-	-
ROE (net income / shareholders' equity)	14.4%	10.2%	9.27%	12.8%	31.9%	22%	17%	16%
ROA (Net income/ Total Assets)	6.2%	4.64%	4.87%	7.67%	13.9%	-	-	-
Assets ¹	39,969	41,909	40,398	38,885	65,937	-	-	-
Book Value Per Share	1,389	1,489	1,650	1,857	2,489	-	-	-
Cash Flow per Share	305.0	252.0	275.0	368.0	832.0	-	-	-
Capex	1,717	2,230	1,241	2,229	2,739	-	-	-
Capex / Sales	3.23%	4.73%	2.77%	4.52%	4.49%	-	-	-
Announcement Date	5/9/19	5/13/20	5/13/21	5/12/22	5/11/23	-	-	-

¹JPY in Million

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 Mechatronics Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5,870 JPY

Average target price

9,500 JPY

Spread / Average Target

+61.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Semiconductor Machinery Manufacturing

	1st Jan change	Capi.
SHIBAURA MECHATRONICS CORPORATION	-1.18%	500M
APPLIED MATERIALS, INC.	+22.11%	161B
DISCO CORPORATION	+32.90%	31.71B
ASM INTERNATIONAL N.V.	+23.80%	31.29B
GLOBALFOUNDRIES, INC.	-20.28%	26.04B
NAURA TECHNOLOGY GROUP CO., LTD.	+29.83%	23.39B
ADVANCED MICRO-FABRICATION EQUIPMENT INC. CHINA	-7.77%	12.13B
HANMI SEMICONDUCTOR CO., LTD.	+118.80%	9.41B
KOKUSAI ELECTRIC CORPORATION	+33.93%	6.19B
ACM RESEARCH (SHANGHAI), INC.	-21.45%	4.94B

Semiconductor Machinery Manufacturing