SUMITOMO FORESTRY CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,737 JPY | +0.32% |
|
+9.40% | +12.71% |
| Mar. 18 | Sumitomo Forestry Co., Ltd.(TSE:1911) added to S&P Japan Mid Cap 100 | CI |
| 2023 | Sumitomo Forestry Co., Ltd. completed the acquisition of Sasazawa Kensetsu K.K. | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 292,985 | 390,846 | 444,916 | 466,218 | 860,128 | 969,444 | - | - |
| Enterprise Value (EV) 1 | 439,035 | 595,208 | 595,157 | 658,214 | 1,108,326 | 1,275,090 | 1,310,572 | 1,327,822 |
| P/E ratio | 10 x | 12.9 x | 4.86 x | 4.29 x | 8.31 x | 9.17 x | 8.32 x | 7.83 x |
| Yield | 2.48% | 1.62% | 3.59% | 5.36% | 2.97% | 2.82% | 3.12% | 3.18% |
| Capitalization / Revenue | 0.22 x | 0.47 x | 0.32 x | 0.28 x | 0.5 x | 0.49 x | 0.46 x | 0.43 x |
| EV / Revenue | 0.34 x | 0.71 x | 0.43 x | 0.39 x | 0.64 x | 0.64 x | 0.62 x | 0.59 x |
| EV / EBITDA | 6.33 x | 9.92 x | 4.5 x | 3.74 x | 6.65 x | 6.89 x | 6.47 x | 6.06 x |
| EV / FCF | -14.2 x | 270 x | 11.6 x | 228 x | 86.6 x | -26.7 x | 31.5 x | 24.9 x |
| FCF Yield | -7.05% | 0.37% | 8.62% | 0.44% | 1.16% | -3.74% | 3.17% | 4.01% |
| Price to Book | 0.92 x | 1.06 x | 0.9 x | 0.74 x | 1.14 x | 1.18 x | 1.07 x | 0.96 x |
| Nbr of stocks (in thousands) | 181,415 | 181,451 | 199,872 | 199,836 | 204,646 | 204,654 | - | - |
| Reference price 2 | 1,615 | 2,154 | 2,226 | 2,333 | 4,203 | 4,737 | 4,737 | 4,737 |
| Announcement Date | 5/10/19 | 2/15/21 | 2/14/22 | 2/14/23 | 2/14/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,308,893 | 839,881 | 1,385,930 | 1,669,707 | 1,733,169 | 1,993,783 | 2,102,550 | 2,236,640 |
| EBITDA 1 | 69,361 | 60,020 | 132,252 | 176,164 | 166,673 | 184,933 | 202,433 | 219,000 |
| EBIT 1 | 49,247 | 47,462 | 113,651 | 158,253 | 146,755 | 158,065 | 173,532 | 185,818 |
| Operating Margin | 3.76% | 5.65% | 8.2% | 9.48% | 8.47% | 7.93% | 8.25% | 8.31% |
| Earnings before Tax (EBT) 1 | 56,618 | 50,211 | 133,932 | 188,385 | 161,353 | 172,750 | 190,300 | 204,467 |
| Net income 1 | 29,160 | 30,398 | 87,175 | 108,672 | 102,479 | 105,883 | 116,683 | 124,000 |
| Net margin | 2.23% | 3.62% | 6.29% | 6.51% | 5.91% | 5.31% | 5.55% | 5.54% |
| EPS 2 | 160.8 | 167.5 | 457.7 | 543.8 | 505.5 | 516.6 | 569.2 | 604.8 |
| Free Cash Flow 1 | -30,970 | 2,205 | 51,322 | 2,891 | 12,803 | -47,690 | 41,560 | 53,264 |
| FCF margin | -2.37% | 0.26% | 3.7% | 0.17% | 0.74% | -2.39% | 1.98% | 2.38% |
| FCF Conversion (EBITDA) | - | 3.67% | 38.81% | 1.64% | 7.68% | - | 20.53% | 24.32% |
| FCF Conversion (Net income) | - | 7.25% | 58.87% | 2.66% | 12.49% | - | 35.62% | 42.96% |
| Dividend per Share 2 | 40.00 | 35.00 | 80.00 | 125.0 | 125.0 | 133.7 | 147.7 | 150.6 |
| Announcement Date | 5/10/19 | 2/15/21 | 2/14/22 | 2/14/23 | 2/14/24 | - | - | - |
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 | 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 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 716,042 | 546,936 | 632,875 | 335,198 | 417,857 | 353,898 | 428,886 | 782,784 | 423,509 | 463,414 | 886,923 | 376,305 | 440,178 | 816,483 | 416,401 | 500,285 | 916,686 | 457,100 | 524,850 | 929,167 | 470,000 | 611,950 | 1,053,900 | 947,000 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 22,389 | 48,348 | 21,370 | 43,933 | 27,766 | 45,189 | 72,955 | 38,154 | 47,144 | 85,298 | 24,364 | 40,865 | 65,229 | 32,386 | 49,140 | 81,526 | 27,600 | 40,600 | 66,400 | 38,100 | 54,695 | 95,590 | 77,200 |
| Operating Margin | - | 4.09% | 7.64% | 6.38% | 10.51% | 7.85% | 10.54% | 9.32% | 9.01% | 10.17% | 9.62% | 6.47% | 9.28% | 7.99% | 7.78% | 9.82% | 8.89% | 6.04% | 7.74% | 7.15% | 8.11% | 8.94% | 9.07% | 8.15% |
| Earnings before Tax (EBT) 1 | - | 24,300 | 48,431 | 36,589 | 48,912 | 35,894 | 55,298 | 91,192 | 48,311 | 48,882 | - | 25,591 | 41,775 | 67,366 | 32,213 | 61,774 | - | 29,033 | 45,050 | 70,500 | 39,450 | 59,450 | 103,800 | - |
| Net income 1 | - | 10,964 | 29,192 | 24,509 | 33,474 | 22,598 | 26,965 | 49,563 | 33,155 | 25,954 | 59,109 | 14,401 | 30,414 | 44,815 | 18,982 | 38,682 | 57,664 | 15,533 | 27,800 | 41,733 | 23,450 | 38,750 | 66,400 | 50,400 |
| Net margin | - | 2% | 4.61% | 7.31% | 8.01% | 6.39% | 6.29% | 6.33% | 7.83% | 5.6% | 6.66% | 3.83% | 6.91% | 5.49% | 4.56% | 7.73% | 6.29% | 3.4% | 5.3% | 4.49% | 4.99% | 6.33% | 6.3% | 5.32% |
| EPS 2 | 102.2 | 31.56 | 160.9 | 125.8 | 171.0 | 113.1 | - | 248.0 | 165.9 | 129.9 | - | 72.07 | 151.1 | 223.2 | 92.54 | 189.8 | - | 75.95 | 141.7 | 202.3 | 122.2 | 161.3 | - | 246.3 |
| Dividend per Share 2 | 20.00 | 10.00 | 35.00 | - | 45.00 | - | - | 60.00 | - | 65.00 | - | - | 60.00 | 60.00 | - | 65.00 | - | - | 65.00 | 65.00 | - | 65.00 | - | - |
| Announcement Date | 5/10/19 | 8/12/20 | 8/10/21 | 10/29/21 | 2/14/22 | 4/27/22 | 8/9/22 | 8/9/22 | 10/31/22 | 2/14/23 | 2/14/23 | 4/27/23 | 8/8/23 | 8/8/23 | 10/31/23 | 2/14/24 | 2/14/24 | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 146,050 | 204,362 | 150,241 | 191,996 | 248,198 | 305,646 | 341,128 | 358,379 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.106 x | 3.405 x | 1.136 x | 1.09 x | 1.489 x | 1.653 x | 1.685 x | 1.636 x |
| Free Cash Flow 1 | -30,970 | 2,205 | 51,322 | 2,891 | 12,803 | -47,690 | 41,560 | 53,265 |
| ROE (net income / shareholders' equity) | 9.3% | 8.81% | 20.2% | 19.4% | 14.8% | 13.5% | 13.6% | 13% |
| ROA (Net income/ Total Assets) | 5.49% | 2.9% | 7.25% | 13.7% | 9.52% | 8.18% | 8.25% | 9.07% |
| Assets 1 | 531,389 | 1,047,954 | 1,202,414 | 794,674 | 1,076,847 | 1,295,209 | 1,414,343 | 1,367,647 |
| Book Value Per Share 2 | 1,755 | 2,025 | 2,480 | 3,140 | 3,687 | 4,010 | 4,439 | 4,957 |
| Cash Flow per Share | 236.0 | 258.0 | 544.0 | 633.0 | 604.0 | - | - | - |
| Capex 1 | 21,214 | 27,877 | 24,278 | 35,939 | 43,105 | 52,500 | 52,500 | 52,500 |
| Capex / Sales | 1.62% | 3.32% | 1.75% | 2.15% | 2.49% | 2.63% | 2.5% | 2.35% |
| Announcement Date | 5/10/19 | 2/15/21 | 2/14/22 | 2/14/23 | 2/14/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
4,737
JPY
Average target price
4,755
JPY
Spread / Average Target
+0.38%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +12.71% | 6.16B | |
| -4.38% | 47.86B | |
| +10.25% | 23.94B | |
| +1.83% | 17.68B | |
| +13.06% | 14.58B | |
| +16.96% | 12.52B | |
| +0.30% | 6.2B | |
| +7.89% | 6.11B | |
| +9.62% | 5.96B | |
| -8.67% | 5.92B |
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- Financials Sumitomo Forestry Co., Ltd.
