SHIMIZU CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 951.5 JPY | +0.58% |
|
+6.92% | +1.59% |
| Apr. 25 | Shimizu Raises Financial Forecasts for Fiscal 2025; Revises Consolidated 2024 Results | MT |
| Apr. 04 | Shimizu Corp. Repurchases 3.17 Billion Yen Worth of Shares in March | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 754,738 | 644,615 | 683,518 | 543,681 | 555,678 | 679,682 | - | - |
| Enterprise Value (EV) 1 | 844,157 | 1,813,170 | 829,883 | 751,685 | 746,167 | 931,209 | 921,886 | 937,460 |
| P/E ratio | 7.57 x | 6.59 x | 8.86 x | 11.5 x | 11.3 x | 56.5 x | 12.5 x | 10.6 x |
| Yield | 3.74% | 4.5% | 3.35% | 3.13% | 2.8% | 2.21% | 3.17% | 3.78% |
| Capitalization / Revenue | 0.45 x | 0.38 x | 0.47 x | 0.37 x | 0.29 x | 0.34 x | 0.34 x | 0.34 x |
| EV / Revenue | 0.51 x | 1.07 x | 0.57 x | 0.51 x | 0.39 x | 0.47 x | 0.47 x | 0.46 x |
| EV / EBITDA | 5.9 x | 12.3 x | 7.1 x | 11.5 x | 9.28 x | 76.6 x | 10.4 x | 9.67 x |
| EV / FCF | -12.5 x | 33.1 x | -19.7 x | -65.2 x | 23.8 x | -24.7 x | 48.9 x | 139 x |
| FCF Yield | -8.01% | 3.02% | -5.09% | -1.53% | 4.21% | -4.05% | 2.04% | 0.72% |
| Price to Book | 1.03 x | 0.88 x | 0.84 x | 0.66 x | 0.65 x | 0.82 x | 0.79 x | 0.76 x |
| Nbr of stocks (in thousands) | 784,551 | 762,857 | 762,854 | 739,703 | 740,904 | 714,327 | - | - |
| Reference price 2 | 962.0 | 845.0 | 896.0 | 735.0 | 750.0 | 951.5 | 951.5 | 951.5 |
| Announcement Date | 5/10/19 | 5/25/20 | 5/10/21 | 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 | 1,664,960 | 1,698,292 | 1,456,473 | 1,482,961 | 1,933,814 | 1,996,538 | 1,975,909 | 2,025,867 |
| EBITDA 1 | 143,028 | 147,527 | 116,861 | 65,358 | 80,445 | 12,149 | 88,384 | 96,925 |
| EBIT 1 | 129,724 | 133,894 | 100,151 | 45,145 | 54,647 | -29,000 | 63,437 | 75,617 |
| Operating Margin | 7.79% | 7.88% | 6.88% | 3.04% | 2.83% | -1.45% | 3.21% | 3.73% |
| Earnings before Tax (EBT) 1 | 143,219 | 141,349 | 110,843 | 64,705 | 75,344 | 25,867 | 84,975 | 92,850 |
| Net income 1 | 99,668 | 98,977 | 77,176 | 47,761 | 49,057 | 12,071 | 53,416 | 61,567 |
| Net margin | 5.99% | 5.83% | 5.3% | 3.22% | 2.54% | 0.6% | 2.7% | 3.04% |
| EPS 2 | 127.0 | 128.3 | 101.2 | 64.09 | 66.29 | 16.83 | 75.83 | 89.98 |
| Free Cash Flow 1 | -67,585 | 54,812 | -42,218 | -11,536 | 31,408 | -37,680 | 18,833 | 6,733 |
| FCF margin | -4.06% | 3.23% | -2.9% | -0.78% | 1.62% | -1.89% | 0.95% | 0.33% |
| FCF Conversion (EBITDA) | - | 37.15% | - | - | 39.04% | - | 21.31% | 6.95% |
| FCF Conversion (Net income) | - | 55.38% | - | - | 64.02% | - | 35.26% | 10.94% |
| Dividend per Share 2 | 36.00 | 38.00 | 30.00 | 23.00 | 21.00 | 21.00 | 30.14 | 36.00 |
| Announcement Date | 5/10/19 | 5/25/20 | 5/10/21 | 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 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 834,850 | 863,442 | 683,276 | 773,197 | 328,961 | 645,601 | 357,727 | 479,633 | 837,360 | 384,714 | 441,207 | 825,921 | 494,123 | 613,770 | 1,107,893 | 441,361 | 495,517 | 936,878 | 511,635 | 571,323 | - | 451,319 | 503,823 | - | 519,095 | 660,000 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 62,379 | 71,515 | 46,034 | 54,117 | 7,937 | 10,473 | 14,152 | 20,520 | 34,672 | 3,309 | 7,935 | 11,244 | 16,907 | 26,496 | 43,403 | 5,937 | -5,772 | 165 | -52,118 | 22,953 | - | 7,248 | 11,989 | - | 19,721 | - | - | - | - |
| Operating Margin | 7.47% | 8.28% | 6.74% | 7% | 2.41% | 1.62% | 3.96% | 4.28% | 4.14% | 0.86% | 1.8% | 1.36% | 3.42% | 4.32% | 3.92% | 1.35% | -1.16% | 0.02% | -10.19% | 4.02% | - | 1.61% | 2.38% | - | 3.8% | - | - | - | - |
| Earnings before Tax (EBT) 1 | 71,666 | - | 56,149 | 54,694 | 11,260 | 19,224 | 18,060 | 27,421 | 45,481 | 6,989 | 12,357 | 19,346 | 16,434 | 39,564 | 55,998 | 29,346 | -1,827 | 27,519 | -49,954 | 48,500 | - | - | - | - | - | - | - | - | - |
| Net income 1 | 47,694 | 51,283 | 38,331 | 38,845 | 7,875 | 10,651 | 12,884 | 24,226 | 37,110 | 3,655 | 7,626 | 11,281 | 10,187 | 27,589 | 37,776 | 18,674 | -2,425 | 16,249 | -37,104 | 31,718 | - | 8,233 | 11,330 | - | 15,451 | 22,600 | - | - | - |
| Net margin | 5.71% | 5.94% | 5.61% | 5.02% | 2.39% | 1.65% | 3.6% | 5.05% | 4.43% | 0.95% | 1.73% | 1.37% | 2.06% | 4.5% | 3.41% | 4.23% | -0.49% | 1.73% | -7.25% | 5.55% | - | 1.82% | 2.25% | - | 2.98% | 3.42% | - | - | - |
| EPS 2 | 61.29 | - | 50.25 | - | - | 14.19 | 17.31 | - | - | 4.950 | 10.31 | 15.26 | 13.76 | 37.27 | - | 25.28 | -3.180 | 22.10 | -50.61 | 45.60 | - | 11.42 | 13.76 | - | 22.65 | - | - | - | - |
| Dividend per Share | 18.00 | 20.00 | 12.00 | 18.00 | - | 11.50 | - | - | - | - | - | 10.50 | - | - | 10.50 | - | - | 13.50 | - | - | 6.500 | - | - | 14.00 | - | - | 19.00 | 16.00 | 22.00 |
| Announcement Date | 11/12/19 | 5/25/20 | 11/9/20 | 5/10/21 | 11/8/21 | 11/8/21 | 1/31/22 | 5/12/22 | 5/12/22 | 7/29/22 | 11/8/22 | 11/8/22 | 1/31/23 | 5/11/23 | 5/11/23 | 7/28/23 | 11/7/23 | 11/7/23 | 2/8/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 89,419 | 1,168,555 | 146,365 | 208,004 | 190,489 | 251,527 | 242,204 | 257,778 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.6252 x | 7.921 x | 1.252 x | 3.183 x | 2.368 x | 20.7 x | 2.74 x | 2.66 x |
| Free Cash Flow 1 | -67,585 | 54,812 | -42,218 | -11,536 | 31,408 | -37,680 | 18,833 | 6,733 |
| ROE (net income / shareholders' equity) | 14.4% | 13.6% | 10% | 5.8% | 5.9% | 2.17% | 6.39% | 7.06% |
| ROA (Net income/ Total Assets) | 7.33% | 7.33% | 5.53% | 2.5% | 2.47% | 1.17% | 2.1% | 2.3% |
| Assets 1 | 1,360,509 | 1,350,573 | 1,395,340 | 1,912,100 | 1,985,133 | 1,034,617 | 2,543,615 | 2,676,812 |
| Book Value Per Share 2 | 930.0 | 958.0 | 1,069 | 1,117 | 1,151 | 1,159 | 1,205 | 1,254 |
| Cash Flow per Share 2 | 144.0 | 146.0 | 123.0 | 91.20 | 101.0 | 52.90 | 122.0 | 130.0 |
| Capex 1 | 58,719 | 123,904 | 122,892 | 109,766 | 68,575 | 76,667 | 76,667 | 76,667 |
| Capex / Sales | 3.53% | 7.3% | 8.44% | 7.4% | 3.55% | 3.84% | 3.88% | 3.78% |
| Announcement Date | 5/10/19 | 5/25/20 | 5/10/21 | 5/12/22 | 5/11/23 | - | - | - |
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
B+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
7
Last Close Price
951.5
JPY
Average target price
916.7
JPY
Spread / Average Target
-3.66%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +1.59% | 4.32B | |
| -2.29% | 67.67B | |
| +2.13% | 59.37B | |
| +21.25% | 38.3B | |
| +11.23% | 30.73B | |
| +2.06% | 26.35B | |
| +22.89% | 22.01B | |
| +15.06% | 19.47B | |
| +22.99% | 17.6B | |
| +64.33% | 16.64B |
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