Projected Income Statement: SMC Corporation

Forecast Balance Sheet: SMC Corporation

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -629,759 -685,510 -611,310 -498,220 -650,738 -616,481 -600,551 -633,561
Change - -8.85% 10.82% 18.5% -30.61% 5.26% 2.58% -5.5%
Announcement Date 5/14/21 5/13/22 5/15/23 5/14/24 5/14/25 - - -
1JPY in Million
Estimates

Cash Flow Forecast: SMC Corporation

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 27,400 77,588 81,592 102,347 106,739 179,876 93,768 80,089
Change - 183.17% 5.16% 25.44% 4.29% 68.52% -47.87% -14.59%
Free Cash Flow (FCF) 1 193,913 39,878 14,531 -33,693 231,890 53,458 112,022 149,261
Change - -79.44% -63.56% -331.87% 788.24% -76.95% 109.55% 33.24%
Announcement Date 5/14/21 5/13/22 5/15/23 5/14/24 5/14/25 - - -
1JPY in Million
Estimates

Forecast Financial Ratios: SMC Corporation

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 31.12% 34.15% 34.43% 29.55% 28.35% 28.01% 30.5% 31.25%
EBIT Margin (%) 27.77% 31.32% 31.31% 25.26% 24.02% 23.11% 23.89% 25.22%
EBT Margin (%) 31.24% 37.51% 37.44% 32.52% 26.65% 26.45% 26.6% 27.82%
Net margin (%) 22.04% 26.53% 27.23% 22.95% 19.74% 19.21% 19.03% 19.92%
FCF margin (%) 35.12% 5.48% 1.76% -4.34% 29.28% 6.43% 12.28% 15.46%
FCF / Net Income (%) 159.34% 20.66% 6.47% -18.89% 148.32% 33.47% 64.56% 77.62%

Profitability

        
ROA 11.73% 16.5% 16.55% 12.48% 10.01% 7.2% 7.65% 8.07%
ROE 9.3% 13.2% 13.8% 10% 8.2% 8.22% 8.46% 8.95%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 4.96% 10.67% 9.89% 13.17% 13.48% 21.64% 10.28% 8.3%
CAPEX / EBITDA (%) 15.95% 31.23% 28.73% 44.58% 47.53% 77.24% 33.71% 26.55%
CAPEX / FCF (%) 14.13% 194.56% 561.5% -303.76% 46.03% 336.48% 83.71% 53.66%

Items per share

        
Cash flow per share 1 2,112 3,235 3,840 3,284 2,981 3,209 3,523 3,824
Change - 53.22% 18.69% -14.46% -9.24% 7.66% 9.76% 8.56%
Dividend per Share 1 500 750 900 950 1,000 1,007 1,121 1,211
Change - 50% 20% 5.56% 5.26% 0.67% 11.38% 7.98%
Book Value Per Share 1 20,835 23,808 26,332 29,339 30,255 31,388 32,937 34,728
Change - 14.27% 10.6% 11.42% 3.12% 3.74% 4.94% 5.44%
EPS 1 1,832 2,924 3,445 2,767 2,445 2,501 2,727 3,033
Change - 59.6% 17.81% -19.67% -11.65% 2.3% 9.02% 11.23%
Nbr of stocks (in thousands) 66,075 65,340 64,501 64,179 63,734 63,139 63,139 63,139
Announcement Date 5/14/21 5/13/22 5/15/23 5/14/24 5/14/25 - - -
1JPY
Estimates
2026 *2027 *
P/E ratio 27x 24.8x
PBR 2.15x 2.05x
EV / Sales 4.39x 4.02x
Yield 1.49% 1.66%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
67,520.00JPY
Average target price
77,700.00JPY
Spread / Average Target
+15.08%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. 6273 Stock
  4. Financials SMC Corporation
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