TDK CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7,312 JPY | +1.33% |
|
+3.31% | +8.86% |
| Apr. 26 | Transcript : TDK Corporation, 2024 Earnings Call, Apr 26, 2024 | |
| Apr. 23 | Nomura Adjusts TDK’s Price Target to 9,400 Yen From 9,000 Yen, Keeps at Buy | MT |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,094,857 | 1,058,485 | 1,936,532 | 1,690,316 | 1,791,960 | 2,773,665 | - | - |
| Enterprise Value (EV) 1 | 1,285,388 | 1,117,908 | 1,973,539 | 1,930,790 | 2,037,933 | 2,837,772 | 2,833,218 | 2,784,215 |
| P/E ratio | 13.3 x | 18.3 x | 24.4 x | 12.9 x | 15.7 x | 22.8 x | 17.8 x | 14.5 x |
| Yield | 1.85% | 2.15% | 1.17% | 1.76% | 2.24% | 1.59% | 1.83% | 2.01% |
| Capitalization / Revenue | 0.79 x | 0.78 x | 1.31 x | 0.89 x | 0.82 x | 1.35 x | 1.26 x | 1.19 x |
| EV / Revenue | 0.93 x | 0.82 x | 1.33 x | 1.02 x | 0.93 x | 1.35 x | 1.29 x | 1.19 x |
| EV / EBITDA | 5.99 x | 5.02 x | 7.84 x | 1.25 x | 5.43 x | 7.81 x | 6.98 x | 5.97 x |
| EV / FCF | 13,530 x | 22.8 x | 189 x | -18.8 x | -158 x | 21.4 x | 31.2 x | 29.4 x |
| FCF Yield | 0.01% | 4.38% | 0.53% | -5.31% | -0.63% | 4.67% | 3.21% | 3.4% |
| Price to Book | 1.25 x | 1.25 x | 1.93 x | 1.3 x | 1.23 x | 1.66 x | 1.6 x | 1.47 x |
| Nbr of stocks (in thousands) | 378,843 | 378,932 | 378,969 | 378,995 | 379,251 | 379,331 | - | - |
| Reference price 2 | 2,890 | 2,793 | 5,110 | 4,460 | 4,725 | 7,312 | 7,312 | 7,312 |
| Announcement Date | 4/26/19 | 5/15/20 | 4/28/21 | 5/11/22 | 4/28/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,381,806 | 1,363,037 | 1,479,008 | 1,902,124 | 2,180,817 | 2,103,876 | 2,200,669 | 2,339,277 |
| EBITDA 1 | 214,454 | 222,854 | 251,820 | 1,549,796 | 375,112 | 363,439 | 413,150 | 459,850 |
| EBIT 1 | 107,823 | 97,870 | 111,535 | 166,775 | 168,827 | 172,893 | 211,956 | 259,264 |
| Operating Margin | 7.8% | 7.18% | 7.54% | 8.77% | 7.74% | 8.22% | 9.63% | 11.08% |
| Earnings before Tax (EBT) 1 | 115,554 | 95,876 | 121,904 | 172,490 | 167,219 | 179,241 | 218,071 | 262,438 |
| Net income 1 | 82,205 | 57,780 | 79,340 | 131,298 | 114,187 | 124,687 | 168,388 | 191,643 |
| Net margin | 5.95% | 4.24% | 5.36% | 6.9% | 5.24% | 5.93% | 7.65% | 8.19% |
| EPS 2 | 217.0 | 152.5 | 209.4 | 346.4 | 301.2 | 328.7 | 411.0 | 504.3 |
| Free Cash Flow 1 | 95 | 48,961 | 10,459 | -102,559 | -12,937 | 135,617 | 90,890 | 94,560 |
| FCF margin | 0.01% | 3.59% | 0.71% | -5.39% | -0.59% | 6.45% | 4.13% | 4.04% |
| FCF Conversion (EBITDA) | 0.04% | 21.97% | 4.15% | - | - | 36.65% | 22% | 20.56% |
| FCF Conversion (Net income) | 0.12% | 84.74% | 13.18% | - | - | 107.44% | 53.98% | 49.34% |
| Dividend per Share 2 | 53.33 | 60.00 | 60.00 | 78.33 | 106.0 | 116.0 | 134.0 | 162.0 |
| Announcement Date | 4/26/19 | 5/15/20 | 4/28/21 | 5/11/22 | 4/28/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: Maart | 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 | 707,029 | 656,008 | 691,111 | 787,897 | 474,127 | 894,185 | 499,670 | 508,269 | 1,007,939 | 510,504 | 611,489 | 1,121,993 | 586,972 | 471,852 | 1,058,824 | 503,399 | 556,312 | 1,059,711 | 559,250 | 484,915 | 1,044,165 | 521,297 | 601,248 | 1,066,114 | 614,112 | 459,352 | 1,535,979 | 1,151,049 | 1,190,530 |
| EBITDA 1 | 128,527 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 106,407 | - | 118,537 | 64,744 | - | 82,528 | 116,644 | - | 130,136 | 96,614 | - | - | - |
| EBIT 1 | 68,843 | 29,027 | 62,406 | 49,129 | 49,200 | 80,033 | 59,202 | 27,430 | 86,632 | 44,603 | 75,706 | 120,309 | 68,368 | -19,850 | 48,518 | 26,302 | 59,246 | 85,548 | 70,200 | 17,145 | 87,345 | 35,295 | 73,706 | - | 77,940 | 56,360 | - | 129,430 | 136,947 |
| Operating Margin | 9.74% | 4.42% | 9.03% | 6.24% | 10.38% | 8.95% | 11.85% | 5.4% | 8.59% | 8.74% | 12.38% | 10.72% | 11.65% | -4.21% | 4.58% | 5.22% | 10.65% | 8.07% | 12.55% | 3.54% | 8.37% | 6.77% | 12.26% | - | 12.69% | 12.27% | - | 11.24% | 11.5% |
| Earnings before Tax (EBT) 1 | 68,648 | 27,228 | 63,163 | 58,741 | 52,218 | 84,456 | 62,165 | 87,564 | 149,729 | 43,872 | 76,003 | 119,875 | 68,227 | -20,883 | 47,344 | 21,012 | 59,230 | 80,242 | 76,880 | 22,119 | 98,999 | 35,895 | 74,961 | 98,946 | 79,266 | 57,319 | 118,387 | 129,430 | 136,947 |
| Net income 1 | 44,938 | 12,842 | 42,225 | 37,115 | 41,562 | 68,228 | 49,078 | 60,200 | 109,278 | 31,413 | 55,538 | 86,951 | 49,924 | -22,688 | 27,236 | 14,725 | 39,463 | 54,188 | 65,303 | 5,196 | 70,499 | 25,743 | 53,760 | 69,062 | 56,847 | 41,107 | 82,671 | 90,401 | 95,663 |
| Net margin | 6.36% | 1.96% | 6.11% | 4.71% | 8.77% | 7.63% | 9.82% | 11.84% | 10.84% | 6.15% | 9.08% | 7.75% | 8.51% | -4.81% | 2.57% | 2.93% | 7.09% | 5.11% | 11.68% | 1.07% | 6.75% | 4.94% | 8.94% | 6.48% | 9.26% | 8.95% | 5.38% | 7.85% | 8.04% |
| EPS 2 | 118.6 | - | 111.4 | 97.94 | 109.7 | 180.0 | 129.5 | 158.8 | - | 82.87 | 146.5 | 229.4 | 131.7 | -59.87 | - | 38.82 | 104.0 | 142.9 | 172.1 | 13.70 | 185.8 | 67.93 | 141.9 | 182.0 | 150.0 | 108.5 | 218.0 | 238.0 | 252.0 |
| Dividend per Share 2 | 30.00 | - | 30.00 | - | 33.33 | 33.33 | - | 45.00 | - | - | 53.00 | 53.00 | - | 53.00 | 53.00 | - | 58.00 | 58.00 | - | 60.00 | - | - | 70.00 | - | - | 70.00 | - | - | - |
| Announcement Date | 10/31/19 | 5/15/20 | 10/30/20 | 4/28/21 | 11/1/21 | 11/1/21 | 1/31/22 | 5/11/22 | 5/11/22 | 8/1/22 | 11/1/22 | 11/1/22 | 1/31/23 | 4/28/23 | 4/28/23 | 8/2/23 | 11/1/23 | 11/1/23 | 1/31/24 | 4/26/24 | 4/26/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 190,531 | 59,423 | 37,007 | 240,474 | 245,973 | 129,430 | 59,553 | 10,550 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.8884 x | 0.2666 x | 0.147 x | 0.1552 x | 0.6557 x | 0.362 x | 0.1441 x | 0.0226 x |
| Free Cash Flow 1 | 95 | 48,961 | 10,459 | -102,559 | -12,937 | 135,617 | 90,890 | 94,560 |
| ROE (net income / shareholders' equity) | 9.7% | 6.7% | 8.6% | 11.6% | 8.3% | 7.9% | 9.79% | 11.5% |
| ROA (Net income/ Total Assets) | 5.93% | 4.87% | 3.65% | 6.47% | 5.46% | 4.2% | 4.47% | 4.73% |
| Assets 1 | 1,386,406 | 1,185,980 | 2,172,508 | 2,029,806 | 2,092,874 | 3,005,338 | 3,769,897 | 4,052,170 |
| Book Value Per Share 2 | 2,316 | 2,227 | 2,648 | 3,431 | 3,845 | 4,500 | 4,582 | 4,961 |
| Cash Flow per Share 2 | 498.0 | 482.0 | 580.0 | 814.0 | 845.0 | 831.0 | 847.0 | 857.0 |
| Capex 1 | 173,592 | 173,429 | 212,355 | 291,337 | 275,709 | 227,714 | 215,000 | 215,000 |
| Capex / Sales | 12.56% | 12.72% | 14.36% | 15.32% | 12.64% | 10.82% | 9.77% | 9.19% |
| Announcement Date | 4/26/19 | 5/15/20 | 4/28/21 | 5/11/22 | 4/28/23 | 4/26/24 | - | - |
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
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
7,312
JPY
Average target price
8,353
JPY
Spread / Average Target
+14.24%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +8.86% | 17.62B | |
| +21.57% | 120B | |
| -13.45% | 19.67B | |
| -18.06% | 16.74B | |
| -14.00% | 10.22B | |
| -15.30% | 4.48B | |
| -12.28% | 4.03B | |
| +7.52% | 4.03B | |
| -9.59% | 3.69B | |
| +1.29% | 3.81B |
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