Financials Tokai Rika Co., Ltd.

Equities

6995

JP3566600007

Auto, Truck & Motorcycle Parts

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
2,140 ^JPY	-0.14%		-6.92%	-1.61%

Feb. 07	NExT-e Solutions Inc. announced that it has received funding from Tokai Rika Co., Ltd., Mizuho Leasing Company, Limited	CI
2023	Tranche Update on Tokai Rika Co., Ltd.'s Equity Buyback Plan announced on November 29, 2023.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	172,189	122,822	171,230	137,401	148,582	195,466	-	-
Enterprise Value (EV) ¹	110,587	62,747	109,899	85,515	89,544	239,127	122,487	111,347
P/E ratio	9.52 x	8.15 x	14.2 x	38.5 x	13.6 x	9.46 x	6.76 x	6.29 x
Yield	3.39%	4.61%	2.67%	3.99%	3.93%	2.86%	3.66%	4.24%
Capitalization / Revenue	0.34 x	0.25 x	0.39 x	0.28 x	0.27 x	0.38 x	0.31 x	0.3 x
EV / Revenue	0.22 x	0.13 x	0.25 x	0.18 x	0.16 x	0.38 x	0.2 x	0.17 x
EV / EBITDA	2.17 x	1.48 x	3.37 x	3.12 x	2.47 x	2.3 x	1.91 x	1.62 x
EV / FCF	9.93 x	3.43 x	5.33 x	-7.55 x	4.96 x	10.3 x	6.05 x	6.21 x
FCF Yield	10.1%	29.2%	18.8%	-13.2%	20.2%	9.7%	16.5%	16.1%
Price to Book	0.75 x	0.54 x	0.67 x	0.51 x	0.54 x	0.7 x	0.59 x	0.55 x
Nbr of stocks (in thousands)	91,250	91,250	91,274	91,297	91,323	91,339	-	-
Reference price ²	1,887	1,346	1,876	1,505	1,627	2,140	2,140	2,140
Announcement Date	4/25/19	4/28/20	4/27/21	4/27/22	4/26/23	4/25/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	507,645	500,002	440,061	487,303	553,124	623,558	623,700	656,200
EBITDA ¹	51,005	42,472	32,611	27,377	36,203	59,500	64,250	68,750
EBIT ¹	29,618	22,597	14,045	9,211	16,656	28,822	37,460	41,300
Operating Margin	5.83%	4.52%	3.19%	1.89%	3.01%	4.62%	6.01%	6.29%
Earnings before Tax (EBT) ¹	26,273	22,914	19,108	13,661	22,937	36,249	35,300	44,350
Net income ¹	18,090	15,067	12,026	3,569	10,900	24,850	27,280	29,270
Net margin	3.56%	3.01%	2.73%	0.73%	1.97%	3.99%	4.37%	4.46%
EPS ²	198.2	165.1	131.8	39.10	119.4	276.8	316.7	340.2
Free Cash Flow ¹	11,132	18,305	20,638	-11,328	18,060	23,188	20,249	17,918
FCF margin	2.19%	3.66%	4.69%	-2.32%	3.27%	3.72%	3.25%	2.73%
FCF Conversion (EBITDA)	21.83%	43.1%	63.29%	-	49.89%	45.88%	31.52%	26.06%
FCF Conversion (Net income)	61.54%	121.49%	171.61%	-	165.69%	93.31%	74.23%	61.22%
Dividend per Share ²	64.00	62.00	50.00	60.00	64.00	75.00	78.25	90.75
Announcement Date	4/25/19	4/28/20	4/27/21	4/27/22	4/26/23	4/25/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2020 S2	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	254,317	245,685	182,536	107,972	231,124	126,906	129,273	124,844	142,083	266,927	141,654	144,543	148,652	158,816	307,468	167,461	148,629	152,900	156,700	158,600	157,900
EBITDA	-	-	-	4,939	-	8,913	2,896	3,891	9,649	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	14,007	8,590	-4,872	581	6,903	4,345	-2,037	-773	4,692	3,919	3,421	9,316	8,783	11,463	20,246	12,967	-4,391	7,900	8,700	8,800	7,900
Operating Margin	5.51%	3.5%	-2.67%	0.54%	2.99%	3.42%	-1.58%	-0.62%	3.3%	1.47%	2.42%	6.45%	5.91%	7.22%	6.58%	7.74%	-2.95%	5.17%	5.55%	5.55%	5%
Earnings before Tax (EBT)	13,882	-	-559	838	8,171	5,818	-328	4,096	7,807	11,903	891	-	14,147	-	27,546	11,827	-	-	-	-	-
Net income ¹	9,160	5,907	-2,612	-555	5,103	3,209	-4,743	2,831	5,136	7,967	-1,568	4,501	10,345	9,895	20,240	6,725	-2,115	5,500	5,700	6,200	5,200
Net margin	3.6%	2.4%	-1.43%	-0.51%	2.21%	2.53%	-3.67%	2.27%	3.61%	2.98%	-1.11%	3.11%	6.96%	6.23%	6.58%	4.02%	-1.42%	3.6%	3.64%	3.91%	3.29%
EPS	100.4	-	-28.63	-6.090	55.90	35.15	-51.95	31.01	56.25	87.26	-17.18	-	113.3	-	221.6	73.63	-	-	-	-	-
Dividend per Share	32.00	-	20.00	-	30.00	-	-	-	-	30.00	-	-	-	-	36.00	-	-	-	-	-	-
Announcement Date	10/30/19	4/28/20	10/28/20	10/28/21	10/28/21	2/1/22	4/27/22	7/28/22	10/27/22	10/27/22	2/2/23	4/26/23	7/27/23	10/30/23	10/30/23	2/1/24	4/25/24	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	61,602	60,075	61,331	51,886	59,038	58,605	72,979	84,120
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	11,132	18,305	20,638	-11,328	18,060	23,188	20,249	17,919
ROE (net income / shareholders' equity)	8.1%	6.6%	5%	1.4%	4%	8.3%	7.6%	9.47%
ROA (Net income/ Total Assets)	7.82%	5.98%	4.77%	3.59%	5.32%	8.11%	7.4%	8.85%
Assets ¹	231,438	251,855	252,320	99,462	204,741	306,251	368,649	330,734
Book Value Per Share ²	2,508	2,503	2,797	2,943	3,037	3,758	3,619	3,902
Cash Flow per Share ²	433.0	383.0	335.0	238.0	333.0	500.0	625.0	676.0
Capex ¹	26,787	22,041	14,044	19,694	24,749	30,078	24,500	25,000
Capex / Sales	5.28%	4.41%	3.19%	4.04%	4.47%	4.82%	3.93%	3.81%
Announcement Date	4/25/19	4/28/20	4/27/21	4/27/22	4/26/23	4/25/24	-	-

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 Tokai Rika Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2,140 JPY

Average target price

2,667 JPY

Spread / Average Target

+24.61%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Auto, Truck & Motorcycle Parts

	1st Jan change	Capi.
TOKAI RIKA CO., LTD.	-1.61%	1.24B
DENSO CORPORATION	+29.62%	50.98B
WEICHAI POWER CO., LTD.	+26.53%	20.39B
APTIV PLC	-20.63%	19.42B
FUYAO GLASS INDUSTRY GROUP CO., LTD.	+31.67%	17.27B
HYUNDAI MOBIS CO.,LTD	+1.48%	15.84B
MAGNA INTERNATIONAL INC.	-14.23%	14.09B
CONTINENTAL AG	-20.07%	13.35B
SUMITOMO ELECTRIC INDUSTRIES, LTD.	+31.97%	11.74B
SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED	+28.24%	10.66B

Other Auto, Truck & Motorcycle Parts