Financials Toyoda Gosei Co., Ltd.

Equities

7282

JP3634200004

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
3,016 ^JPY	-3.52%		-4.98%	+14.00%

Apr. 23	Japanese Shares Extend Gains on Upbeat Private Sector Activity Data	MT
Apr. 23	Toyoda Gosei Premieres World-Leading High-Performance UV-C LEDs	MT

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	303,396	239,972	376,436	262,295	295,230	383,118	-	-
Enterprise Value (EV) ¹	321,570	260,098	394,647	309,425	352,983	412,208	371,059	339,424
P/E ratio	13 x	21.4 x	10.7 x	11.2 x	18.4 x	8.11 x	8.89 x	7.39 x
Yield	2.56%	3.24%	2.06%	2.96%	2.63%	2.58%	3.38%	3.42%
Capitalization / Revenue	0.36 x	0.3 x	0.52 x	0.32 x	0.31 x	0.38 x	0.35 x	0.33 x
EV / Revenue	0.38 x	0.32 x	0.55 x	0.37 x	0.37 x	0.38 x	0.34 x	0.3 x
EV / EBITDA	4.57 x	4.7 x	5.31 x	4.07 x	4.27 x	3.35 x	3.07 x	2.66 x
EV / FCF	163 x	23.5 x	22.4 x	-9.74 x	16 x	5.88 x	8.77 x	7.33 x
FCF Yield	0.61%	4.26%	4.47%	-10.3%	6.24%	17%	11.4%	13.6%
Price to Book	0.86 x	0.7 x	0.96 x	0.61 x	0.66 x	0.79 x	0.72 x	0.68 x
Nbr of stocks (in thousands)	129,435	129,435	129,448	129,464	129,487	127,029	-	-
Reference price ²	2,344	1,854	2,908	2,026	2,280	3,016	3,016	3,016
Announcement Date	4/26/19	4/30/20	4/28/21	4/28/22	4/27/23	4/26/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	840,714	812,937	721,498	830,243	951,877	1,071,107	1,094,902	1,147,150
EBITDA ¹	70,314	55,386	74,291	76,116	82,702	120,180	120,820	127,840
EBIT ¹	36,525	17,888	36,479	34,172	35,069	67,703	67,267	78,044
Operating Margin	4.34%	2.2%	5.06%	4.12%	3.68%	6.32%	6.14%	6.8%
Earnings before Tax (EBT) ¹	37,356	16,106	37,301	37,696	35,323	71,801	68,150	81,000
Net income ¹	23,309	11,226	35,205	23,352	16,004	51,454	41,800	51,311
Net margin	2.77%	1.38%	4.88%	2.81%	1.68%	4.8%	3.82%	4.47%
EPS ²	180.1	86.74	272.0	180.4	123.6	400.2	339.3	408.3
Free Cash Flow ¹	1,972	11,073	17,652	-31,769	22,021	68,357	42,318	46,326
FCF margin	0.23%	1.36%	2.45%	-3.83%	2.31%	6.42%	3.87%	4.04%
FCF Conversion (EBITDA)	2.8%	19.99%	23.76%	-	26.63%	56.88%	35.03%	36.24%
FCF Conversion (Net income)	8.46%	98.64%	50.14%	-	137.6%	132.81%	101.24%	90.29%
Dividend per Share ²	60.00	60.00	60.00	60.00	60.00	77.89	102.0	103.1
Announcement Date	4/26/19	4/30/20	4/28/21	4/28/22	4/27/23	4/26/24	-	-

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	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	421,426	391,511	309,409	412,089	184,244	387,363	213,115	229,765	209,498	244,716	454,214	247,600	250,063	259,326	263,523	522,849	281,373	266,885	267,900	273,900	278,800	283,900
EBITDA	-	-	-	-	-	-	17,129	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	18,755	-867	4,514	31,965	1,730	12,991	6,001	15,180	3,142	9,125	12,267	11,423	11,379	16,386	17,305	33,691	22,209	11,803	16,300	16,200	17,900	18,400
Operating Margin	4.45%	-0.22%	1.46%	7.76%	0.94%	3.35%	2.82%	6.61%	1.5%	3.73%	2.7%	4.61%	4.55%	6.32%	6.57%	6.44%	7.89%	4.42%	6.08%	5.91%	6.42%	6.48%
Earnings before Tax (EBT) ¹	18,761	-2,655	3,736	-	1,139	13,330	7,009	17,357	4,568	9,524	14,092	9,712	11,519	16,599	17,525	34,124	24,218	13,459	16,700	16,300	18,300	18,500
Net income ¹	12,446	-1,220	3,437	31,768	-2	9,027	4,480	9,845	2,616	5,619	8,235	5,844	1,925	11,616	11,654	23,270	18,014	10,170	10,300	10,100	11,300	11,300
Net margin	2.95%	-0.31%	1.11%	7.71%	-0%	2.33%	2.1%	4.28%	1.25%	2.3%	1.81%	2.36%	0.77%	4.48%	4.42%	4.45%	6.4%	3.81%	3.84%	3.69%	4.05%	3.98%
EPS	96.16	-	26.56	-	-0.0100	69.74	34.61	76.04	20.21	-	63.61	45.14	-	89.71	-	179.7	140.1	-	-	-	-	-
Dividend per Share	30.00	-	25.00	-	-	35.00	-	-	-	-	30.00	-	-	-	-	38.00	-	-	-	-	-	-
Announcement Date	10/31/19	4/30/20	10/29/20	4/28/21	10/29/21	10/29/21	2/2/22	4/28/22	7/29/22	10/28/22	10/28/22	2/3/23	4/27/23	7/28/23	10/31/23	10/31/23	2/2/24	4/26/24	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	18,174	20,126	18,211	47,130	57,753	19,052	-	-
Net Cash position ¹	-	-	-	-	-	-	12,059	43,694
Leverage (Debt/EBITDA)	0.2585 x	0.3634 x	0.2451 x	0.6192 x	0.6983 x	0.1585 x	-	-
Free Cash Flow ¹	1,972	11,073	17,652	-31,769	22,021	68,357	42,319	46,326
ROE (net income / shareholders' equity)	6.7%	3.2%	9.6%	5.7%	3.6%	10.6%	8.2%	9.32%
ROA (Net income/ Total Assets)	5.45%	2.52%	4.74%	4.61%	4.1%	7.98%	7.6%	7.73%
Assets ¹	427,581	444,735	742,170	506,259	390,687	644,473	550,000	664,222
Book Value Per Share ²	2,736	2,666	3,021	3,312	3,463	4,112	4,190	4,465
Cash Flow per Share ²	441.0	376.0	564.0	504.0	492.0	796.0	792.0	835.0
Capex ¹	49,479	46,385	49,595	51,728	48,897	46,750	48,750	49,250
Capex / Sales	5.89%	5.71%	6.87%	6.23%	5.14%	4.39%	4.45%	4.29%
Announcement Date	4/26/19	4/30/20	4/28/21	4/28/22	4/27/23	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

Ratings for Toyoda Gosei Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,016 JPY

Average target price

3,826 JPY

Spread / Average Target

+26.85%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Auto, Truck & Motorcycle Parts

	1st Jan change	Capi.
TOYODA GOSEI CO., LTD.	+14.00%	2.43B
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	-19.86%	13.35B
SUMITOMO ELECTRIC INDUSTRIES, LTD.	+31.97%	11.74B
SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED	+27.94%	10.66B

Other Auto, Truck & Motorcycle Parts