TAIYO YUDEN CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,673 JPY | +2.11% |
|
+4.29% | -1.53% |
| Apr. 11 | Jefferies Starts Taiyo Yuden at Buy with 4,620 Yen Price Target | MT |
| Apr. 11 | Morgan Stanley Adjusts Taiyo Yuden’s Price Target to 3,600 Yen From 3,400 Yen, Keeps at Equalweight | MT |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 275,079 | 359,065 | 652,688 | 697,008 | 553,261 | 457,755 | - | - |
| Enterprise Value (EV) 1 | 272,693 | 356,108 | 642,141 | 677,422 | 564,999 | 517,068 | 526,524 | 525,215 |
| P/E ratio | 11.5 x | 20 x | 22.8 x | 12.8 x | 23.8 x | 67.3 x | 21.5 x | 14.7 x |
| Yield | 0.96% | 0.91% | 0.77% | 1.44% | 2.03% | 2.45% | 2.54% | 2.67% |
| Capitalization / Revenue | 1 x | 1.27 x | 2.17 x | 1.99 x | 1.73 x | 1.42 x | 1.31 x | 1.21 x |
| EV / Revenue | 0.99 x | 1.26 x | 2.13 x | 1.94 x | 1.77 x | 1.61 x | 1.5 x | 1.39 x |
| EV / EBITDA | 4.41 x | 5.55 x | 9.17 x | 6.81 x | 8.45 x | 10.3 x | 6.98 x | 5.75 x |
| EV / FCF | 29.1 x | 30.8 x | 60.2 x | 43 x | -26.9 x | -11.9 x | 50.2 x | 23.1 x |
| FCF Yield | 3.44% | 3.25% | 1.66% | 2.33% | -3.71% | -8.38% | 1.99% | 4.32% |
| Price to Book | 1.35 x | 1.71 x | 2.68 x | 2.31 x | 1.74 x | 1.49 x | 1.44 x | 1.35 x |
| Nbr of stocks (in thousands) | 126,357 | 125,503 | 125,517 | 125,587 | 124,608 | 124,627 | - | - |
| Reference price 2 | 2,177 | 2,861 | 5,200 | 5,550 | 4,440 | 3,673 | 3,673 | 3,673 |
| Announcement Date | 5/13/19 | 5/12/20 | 5/13/21 | 5/10/22 | 5/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 274,349 | 282,329 | 300,920 | 349,636 | 319,504 | 321,357 | 350,013 | 378,691 |
| EBITDA 1 | 61,784 | 64,198 | 70,022 | 99,505 | 66,883 | 50,288 | 75,383 | 91,388 |
| EBIT 1 | 35,237 | 37,176 | 40,766 | 68,218 | 31,980 | 10,662 | 30,443 | 43,974 |
| Operating Margin | 12.84% | 13.17% | 13.55% | 19.51% | 10.01% | 3.32% | 8.7% | 11.61% |
| Earnings before Tax (EBT) 1 | 28,110 | 23,818 | 37,010 | 71,872 | 31,102 | 11,267 | 30,522 | 44,573 |
| Net income 1 | 23,687 | 18,022 | 28,615 | 54,361 | 23,216 | 6,575 | 22,200 | 32,264 |
| Net margin | 8.63% | 6.38% | 9.51% | 15.55% | 7.27% | 2.05% | 6.34% | 8.52% |
| EPS 2 | 189.9 | 143.0 | 228.0 | 433.5 | 186.3 | 54.58 | 170.5 | 250.1 |
| Free Cash Flow 1 | 9,386 | 11,560 | 10,664 | 15,764 | -20,978 | -43,354 | 10,483 | 22,697 |
| FCF margin | 3.42% | 4.09% | 3.54% | 4.51% | -6.57% | -13.49% | 2.99% | 5.99% |
| FCF Conversion (EBITDA) | 15.19% | 18.01% | 15.23% | 15.84% | - | - | 13.91% | 24.84% |
| FCF Conversion (Net income) | 39.63% | 64.14% | 37.27% | 29% | - | - | 47.22% | 70.35% |
| Dividend per Share 2 | 21.00 | 26.00 | 40.00 | 80.00 | 90.00 | 90.00 | 93.33 | 98.21 |
| Announcement Date | 5/13/19 | 5/12/20 | 5/13/21 | 5/10/22 | 5/9/23 | - | - | - |
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 | 141,908 | 140,421 | 140,222 | 160,698 | 88,834 | 172,670 | 89,840 | 87,126 | 176,966 | 81,740 | 86,273 | 168,013 | 79,033 | 72,458 | 151,491 | 72,612 | 82,815 | 155,427 | 86,386 | 79,795 | 243,994 | 84,623 | 94,559 | 173,237 | 96,929 | 89,750 | 179,683 | 185,680 | 190,633 |
| EBITDA 1 | 33,196 | - | 33,003 | - | 27,186 | 49,627 | 25,659 | 24,219 | - | 20,998 | 24,945 | 45,943 | 15,551 | 5,389 | - | - | - | - | 15,122 | 14,138 | - | 17,680 | 21,880 | - | 24,300 | 18,111 | - | - | - |
| EBIT 1 | 20,298 | 16,878 | 19,126 | 21,640 | 19,508 | 34,655 | 17,644 | 15,919 | 33,563 | 13,142 | 16,476 | 29,618 | 6,462 | -4,100 | 2,362 | -577 | 2,720 | 2,143 | 4,900 | 3,617 | 11,412 | 7,009 | 10,362 | 16,983 | 11,475 | 8,393 | 18,715 | 24,031 | 26,068 |
| Operating Margin | 14.3% | 12.02% | 13.64% | 13.47% | 21.96% | 20.07% | 19.64% | 18.27% | 18.97% | 16.08% | 19.1% | 17.63% | 8.18% | -5.66% | 1.56% | -0.79% | 3.28% | 1.38% | 5.67% | 4.53% | 4.68% | 8.28% | 10.96% | 9.8% | 11.84% | 9.35% | 10.42% | 12.94% | 13.67% |
| Earnings before Tax (EBT) 1 | 18,588 | - | 15,030 | - | 20,406 | 35,743 | 18,347 | 17,782 | - | 17,004 | 17,978 | 34,982 | 2,594 | -6,474 | -3,880 | 1,251 | 4,980 | 6,231 | 1,103 | 2,972 | - | 9,324 | 11,524 | - | 13,684 | 7,940 | - | - | - |
| Net income 1 | 15,332 | 2,690 | 11,442 | 17,173 | 15,479 | 28,448 | 13,411 | 12,502 | 25,913 | 12,236 | 12,644 | 24,880 | 1,973 | -3,637 | -1,664 | 903 | 2,497 | 3,400 | 276 | 2,552 | 2,034 | 6,931 | 8,606 | 13,273 | 10,213 | 5,892 | 13,011 | 17,558 | 19,086 |
| Net margin | 10.8% | 1.92% | 8.16% | 10.69% | 17.42% | 16.48% | 14.93% | 14.35% | 14.64% | 14.97% | 14.66% | 14.81% | 2.5% | -5.02% | -1.1% | 1.24% | 3.02% | 2.19% | 0.32% | 3.2% | 0.83% | 8.19% | 9.1% | 7.66% | 10.54% | 6.57% | 7.24% | 9.46% | 10.01% |
| EPS 2 | 121.3 | 21.77 | 91.16 | - | 123.3 | 226.6 | 106.8 | 100.1 | 206.9 | 98.20 | 101.5 | 199.7 | 15.83 | -29.18 | -13.35 | 7.250 | 20.04 | 27.29 | 2.210 | 15.93 | 20.00 | 39.40 | 58.10 | 98.00 | 67.10 | 28.50 | 96.00 | 129.0 | 140.0 |
| Dividend per Share 2 | 11.00 | - | 15.00 | - | 40.00 | 40.00 | - | 40.00 | - | - | 45.00 | 45.00 | - | 45.00 | 45.00 | - | 45.00 | 45.00 | - | 45.00 | - | - | 50.00 | - | - | 50.00 | - | - | - |
| Announcement Date | 11/11/19 | 5/12/20 | 11/9/20 | 5/13/21 | 11/5/21 | 11/5/21 | 2/4/22 | 5/10/22 | 5/10/22 | 8/3/22 | 11/7/22 | 11/7/22 | 2/7/23 | 5/9/23 | 5/9/23 | 8/3/23 | 11/7/23 | 11/7/23 | 2/7/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 11,738 | 59,313 | 68,769 | 67,459 |
| Net Cash position 1 | 2,386 | 2,957 | 10,547 | 19,586 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | 0.1755 x | 1.179 x | 0.9123 x | 0.7382 x |
| Free Cash Flow 1 | 9,386 | 11,560 | 10,664 | 15,764 | -20,978 | -43,354 | 10,483 | 22,697 |
| ROE (net income / shareholders' equity) | 12.6% | 8.7% | 12.6% | 20% | 7.5% | 2.98% | 7.04% | 9.76% |
| ROA (Net income/ Total Assets) | 11.1% | 10.5% | 11% | 16.4% | 7.12% | 1.84% | 4.58% | 6.5% |
| Assets 1 | 213,072 | 172,195 | 259,380 | 331,012 | 325,920 | 357,927 | 484,590 | 496,418 |
| Book Value Per Share 2 | 1,610 | 1,672 | 1,938 | 2,403 | 2,548 | 2,457 | 2,544 | 2,712 |
| Cash Flow per Share 2 | 403.0 | 357.0 | 461.0 | 683.0 | 466.0 | 368.0 | 507.0 | 623.0 |
| Capex 1 | 42,562 | 44,067 | 43,908 | 51,551 | 63,338 | 88,332 | 53,889 | 54,444 |
| Capex / Sales | 15.51% | 15.61% | 14.59% | 14.74% | 19.82% | 27.49% | 15.4% | 14.38% |
| Announcement Date | 5/13/19 | 5/12/20 | 5/13/21 | 5/10/22 | 5/9/23 | - | - | - |
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
OUTPERFORM
Number of Analysts
16
Last Close Price
3,673
JPY
Average target price
4,236
JPY
Spread / Average Target
+15.32%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.53% | 2.91B | |
| +21.55% | 72.28B | |
| +48.33% | 65.86B | |
| -4.21% | 34.41B | |
| -16.43% | 28.52B | |
| -7.17% | 14.26B | |
| -13.03% | 9.92B | |
| +5.83% | 9.52B | |
| +71.16% | 8.54B | |
| +3.02% | 7.91B |
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- Financials Taiyo Yuden Co., Ltd.
