Financials Sysmex Corporation

Equities

6869

JP3351100007

Medical Equipment, Supplies & Distribution

Market Closed - Japan Exchange 02:00:00 2024-04-26 am EDT 5-day change 1st Jan Change
2,488 JPY -0.02% Intraday chart for Sysmex Corporation +7.13% -5.03%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,396,101 1,638,302 2,492,241 1,866,735 1,808,504 1,550,954 - -
Enterprise Value (EV) 1 1,345,039 1,604,346 2,447,735 1,813,764 1,761,635 1,500,228 1,490,957 1,471,469
P/E ratio 33.9 x 47 x 75.2 x 42.3 x 39.5 x 29.9 x 27.4 x 24.3 x
Yield 1.05% 0.92% 0.6% 0.85% 0.95% 1.13% 1.1% 1.17%
Capitalization / Revenue 4.76 x 5.43 x 8.17 x 5.13 x 4.41 x 3.42 x 3.14 x 2.92 x
EV / Revenue 4.58 x 5.31 x 8.02 x 4.99 x 4.29 x 3.31 x 3.02 x 2.77 x
EV / EBITDA 17.4 x 20.2 x 31.6 x 19.1 x 16.7 x 12.9 x 11.7 x 10.5 x
EV / FCF 51.7 x 58.8 x 88.4 x 76.6 x 103 x 45.5 x 36.5 x 27.4 x
FCF Yield 1.93% 1.7% 1.13% 1.31% 0.97% 2.2% 2.74% 3.65%
Price to Book 5.28 x 5.9 x 8.09 x 5.36 x 4.67 x 3.68 x 3.66 x 3.27 x
Nbr of stocks (in thousands) 626,054 626,422 626,979 627,615 627,735 623,499 - -
Reference price 2 2,230 2,615 3,975 2,974 2,881 2,488 2,488 2,488
Announcement Date 5/8/19 5/12/20 5/12/21 5/12/22 5/11/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 293,506 301,980 305,073 363,780 410,502 453,049 493,275 531,270
EBITDA 1 77,124 79,239 77,367 94,847 105,486 116,211 126,901 139,571
EBIT 1 61,282 55,284 51,792 67,416 73,679 80,961 90,762 101,926
Operating Margin 20.88% 18.31% 16.98% 18.53% 17.95% 17.87% 18.4% 19.19%
Earnings before Tax (EBT) 1 57,955 49,433 48,033 64,346 68,713 77,141 88,502 100,030
Net income 1 41,224 34,883 33,142 44,093 45,784 52,212 59,815 67,673
Net margin 14.05% 11.55% 10.86% 12.12% 11.15% 11.52% 12.13% 12.74%
EPS 2 65.87 55.70 52.88 70.29 72.94 83.33 90.83 102.2
Free Cash Flow 1 26,017 27,276 27,682 23,687 17,084 32,965 40,877 53,726
FCF margin 8.86% 9.03% 9.07% 6.51% 4.16% 7.28% 8.29% 10.11%
FCF Conversion (EBITDA) 33.73% 34.42% 35.78% 24.97% 16.2% 28.37% 32.21% 38.49%
FCF Conversion (Net income) 63.11% 78.19% 83.53% 53.72% 37.31% 63.14% 68.34% 79.39%
Dividend per Share 2 23.33 24.00 24.00 25.33 27.33 27.99 27.41 29.15
Announcement Date 5/8/19 5/12/20 5/12/21 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 1 142,990 - 132,082 - 89,390 168,753 90,148 104,879 - 86,029 107,993 194,022 104,721 111,759 - 95,351 117,347 212,698 113,827 128,189 - 109,077 124,741 - 122,782 136,877 - - -
EBITDA 1 - - - - - - - - - - - - - - - - - - 29,478 34,548 - - - - - - - - -
EBIT 1 27,803 - 20,004 - 18,659 33,711 16,159 17,546 - 11,053 22,097 33,150 21,222 19,307 40,529 13,277 20,547 33,824 20,388 24,224 - 14,826 21,682 - 21,996 28,467 - - -
Operating Margin 19.44% - 15.15% - 20.87% 19.98% 17.92% 16.73% - 12.85% 20.46% 17.09% 20.27% 17.28% - 13.92% 17.51% 15.9% 17.91% 18.9% - 13.59% 17.38% - 17.91% 20.8% - - -
Earnings before Tax (EBT) 1 25,075 - 18,090 - 17,535 32,088 15,977 16,281 - 12,847 21,699 34,546 16,512 17,655 34,167 13,160 20,140 33,300 17,802 21,182 - 14,280 21,070 - 20,301 27,450 - - -
Net income 1 17,593 - 12,653 - 12,250 22,243 10,658 11,192 - 8,030 15,959 23,989 11,196 10,599 21,795 8,621 13,565 22,186 12,278 15,762 - 9,614 14,295 - 14,136 18,710 - - -
Net margin 12.3% - 9.58% - 13.7% 13.18% 11.82% 10.67% - 9.33% 14.78% 12.36% 10.69% 9.48% - 9.04% 11.56% 10.43% 10.79% 12.3% - 8.81% 11.46% - 11.51% 13.67% - - -
EPS 2 28.10 - 20.20 - 19.54 35.47 16.99 17.83 - 12.79 25.43 38.22 17.84 16.89 - 13.73 21.60 35.34 19.63 25.36 - - - - - - - - -
Dividend per Share 2 12.00 12.00 12.00 12.00 12.33 12.33 - 13.00 13.00 - - 13.33 - - - - 14.00 14.00 - 14.00 14.00 - 15.33 14.00 - 15.33 16.00 16.00 18.00
Announcement Date 11/6/19 5/12/20 11/5/20 5/12/21 11/10/21 11/10/21 2/10/22 5/12/22 5/12/22 8/4/22 11/9/22 11/9/22 2/9/23 5/11/23 5/11/23 8/8/23 11/8/23 11/8/23 2/9/24 - - - - - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 51,062 33,956 44,506 52,971 46,869 50,726 59,997 79,485
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 26,017 27,276 27,682 23,687 17,084 32,965 40,877 53,726
ROE (net income / shareholders' equity) 16.3% 12.9% 11.3% 13.5% 12.4% 12.9% 13.6% 14%
ROA (Net income/ Total Assets) 17.3% 13.4% 11.8% 14.1% 13.5% 11% 11.9% 12.5%
Assets 1 237,846 259,707 281,778 312,193 338,078 475,996 503,818 539,688
Book Value Per Share 2 422.0 443.0 491.0 555.0 618.0 676.0 679.0 760.0
Cash Flow per Share 2 91.20 94.00 93.70 114.0 124.0 119.0 133.0 168.0
Capex 1 18,726 13,629 9,930 32,034 42,035 41,570 42,784 43,305
Capex / Sales 6.38% 4.51% 3.25% 8.81% 10.24% 9.18% 8.67% 8.15%
Announcement Date 5/8/19 5/12/20 5/12/21 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+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
2,488 JPY
Average target price
3,050 JPY
Spread / Average Target
+22.63%
Consensus
  1. Stock Market
  2. Equities
  3. 6869 Stock
  4. Financials Sysmex Corporation