Financials Star Micronics Co., Ltd.

Equities

7718

JP3399000003

Industrial Machinery & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-02 am EDT			5-day change	1st Jan Change
1,853 ^JPY	-0.38%		+3.29%	+7.80%

Apr. 23	Star Micronics Completes Disposal of Shares as Restricted Stock Compensation	MT
Mar. 29	Star Micronics Disposes 24,800 Shares for 46.43 Million Yen as Restricted Stock Compensation	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	55,503	58,367	60,650	60,988	63,080	68,021	-	-
Enterprise Value (EV) ¹	45,477	43,686	33,155	30,952	33,461	68,021	68,021	68,021
P/E ratio	13.8 x	33.7 x	10.3 x	5.97 x	7.85 x	13.6 x	10.6 x	6.86 x
Yield	3.56%	3.51%	3.74%	4.32%	3.49%	3.23%	3.49%	3.76%
Capitalization / Revenue	0.92 x	1.28 x	0.94 x	0.7 x	0.81 x	1.04 x	0.95 x	0.87 x
EV / Revenue	0.92 x	1.28 x	0.94 x	0.7 x	0.81 x	1.04 x	0.95 x	0.87 x
EV / EBITDA	6.74 x	13.2 x	6.36 x	3.73 x	4.83 x	7.27 x	6.02 x	5.15 x
EV / FCF	27 x	11.8 x	5.86 x	14.8 x	12.4 x	9.32 x	45.1 x	15.9 x
FCF Yield	3.71%	8.46%	17.1%	6.78%	8.07%	10.7%	2.22%	6.31%
Price to Book	1.11 x	1.2 x	0.98 x	0.84 x	0.79 x	0.82 x	0.78 x	0.74 x
Nbr of stocks (in thousands)	35,240	35,288	39,154	37,670	36,696	36,708	-	-
Reference price ²	1,575	1,654	1,549	1,619	1,719	1,860	1,860	1,860
Announcement Date	2/13/20	2/9/21	2/9/22	2/9/23	2/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	60,651	45,670	64,360	87,368	78,196	65,200	71,950	78,400
EBITDA ¹	8,236	4,427	9,541	16,338	13,061	9,350	11,300	13,200
EBIT ¹	5,817	2,172	7,415	13,925	10,350	6,650	8,500	10,000
Operating Margin	9.59%	4.76%	11.52%	15.94%	13.24%	10.2%	11.81%	12.76%
Earnings before Tax (EBT) ¹	5,332	2,887	7,963	14,211	11,100	7,100	8,800	10,300
Net income ¹	4,053	1,731	5,740	10,298	8,175	5,000	6,400	7,200
Net margin	6.68%	3.79%	8.92%	11.79%	10.45%	7.67%	8.9%	9.18%
EPS ²	113.7	49.07	150.8	271.1	218.9	136.4	175.6	271.1
Free Cash Flow ¹	2,058	4,935	10,341	4,133	5,088	7,300	1,508	4,289
FCF margin	3.39%	10.81%	16.07%	4.73%	6.51%	11.2%	2.1%	5.47%
FCF Conversion (EBITDA)	24.99%	111.48%	108.39%	25.3%	38.95%	78.07%	13.35%	32.49%
FCF Conversion (Net income)	50.78%	285.1%	180.16%	40.13%	62.24%	145.99%	23.56%	59.57%
Dividend per Share ²	56.00	58.00	58.00	70.00	60.00	60.00	65.00	70.00
Announcement Date	2/13/20	2/9/21	2/9/22	2/9/23	2/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2021 S1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	29,239	21,076	27,930	17,717	18,712	17,539	21,714	39,252	22,405	25,710	21,116	21,809	42,926	17,842	17,428	14,400	15,600	17,450	19,450
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,548	626.6	2,630	2,763	2,022	2,412	3,311	5,722	3,564	4,639	4,106	3,274	7,380	2,278	692	600	1,100	2,100	3,000
Operating Margin	8.71%	2.97%	9.42%	15.59%	10.81%	13.75%	15.25%	14.58%	15.91%	18.04%	19.44%	15.01%	17.19%	12.77%	3.97%	4.17%	7.05%	12.03%	15.42%
Earnings before Tax (EBT)	-	719	2,861	2,849	-	2,615	-	5,968	3,261	-	4,532	-	7,821	2,432	-	-	-	-	-
Net income	1,647	69.62	2,114	2,172	-	1,827	-	4,209	2,363	-	3,174	-	5,238	1,827	-	-	-	-	-
Net margin	5.63%	0.33%	7.57%	12.26%	-	10.42%	-	10.72%	10.55%	-	15.03%	-	12.2%	10.24%	-	-	-	-	-
EPS	-	1.970	57.61	55.97	-	47.42	-	109.9	62.65	-	84.21	-	139.4	49.19	-	-	-	-	-
Dividend per Share	-	28.00	29.00	-	-	-	-	30.00	-	-	-	-	30.00	-	-	-	-	-	-
Announcement Date	2/13/20	8/11/20	8/10/21	11/11/21	2/9/22	5/11/22	8/9/22	8/9/22	11/10/22	2/9/23	5/11/23	8/9/23	8/9/23	11/9/23	2/9/24	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	10,026	14,681	27,495	30,036	29,619	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	2,058	4,935	10,341	4,133	5,088	7,300	1,508	4,289
ROE (net income / shareholders' equity)	8.3%	3.5%	10.4%	15.4%	10.7%	6.15%	7.6%	8.3%
ROA (Net income/ Total Assets)	7.88%	3.75%	10.1%	15.6%	11.4%	6.35%	7.85%	10.3%
Assets ¹	51,421	46,214	56,693	65,962	71,955	78,740	81,529	69,903
Book Value Per Share ²	1,414	1,383	1,577	1,929	2,179	2,258	2,378	2,524
Cash Flow per Share ²	182.0	113.0	207.0	335.0	291.0	214.0	256.0	296.0
Capex ¹	3,066	1,907	1,925	3,390	2,321	5,500	4,000	4,000
Capex / Sales	5.06%	4.18%	2.99%	3.88%	2.97%	8.44%	5.56%	5.1%
Announcement Date	2/13/20	2/9/21	2/9/22	2/9/23	2/9/24	-	-	-

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 Star Micronics Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1,860 JPY

Average target price

1,900 JPY

Spread / Average Target

+2.15%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Machine Tools

	1st Jan change	Capi.
STAR MICRONICS CO., LTD.	+7.80%	433M
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NINGBO HAITIAN PRECISION MACHINERY CO.,LTD.	+7.34%	2.02B
KENNAMETAL INC.	-7.95%	1.88B
SHENZHEN YINGHE TECHNOLOGY CO., LTD	-10.74%	1.47B
OKUMA CORPORATION	+16.58%	1.36B
GUANGDONG CREATE CENTURY INTELLIGENT EQUIPMENT GROUP CORPORATION LIMITED	-8.37%	1.33B
QINGDAO GAOCE TECHNOLOGY CO., LTD	-27.21%	1.33B
QINCHUAN MACHINE TOOL & TOOL GROUP SHARE CO., LTD.	-16.74%	1.25B

Machine Tools