ZENRIN CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 860 JPY | +6.30% |
|
+6.57% | -1.60% |
| Apr. 26 | Zenrin Co., Ltd. acquired a 90.43% stake in Locus Blue | CI |
| Apr. 16 | Will Smart Co.,LTD. has completed an IPO in the amount of ¥1.112832 billion. | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 128,129 | 55,268 | 72,741 | 54,044 | 44,515 | 45,902 | - | - |
| Enterprise Value (EV) 1 | 127,724 | 51,276 | 67,204 | 47,895 | 37,220 | 45,315 | 45,902 | 45,902 |
| P/E ratio | 40.1 x | 21 x | 58.8 x | 14.9 x | 16.2 x | 21.8 x | 19.5 x | 16.5 x |
| Yield | 0.98% | 2.37% | 1.89% | 2.61% | 3.24% | 3.36% | 3.23% | 3.34% |
| Capitalization / Revenue | 2.01 x | 0.92 x | 1.27 x | 0.92 x | 0.76 x | 0.74 x | 0.72 x | 0.69 x |
| EV / Revenue | 2.01 x | 0.92 x | 1.27 x | 0.92 x | 0.76 x | 0.74 x | 0.72 x | 0.69 x |
| EV / EBITDA | 10.9 x | 6.22 x | 10.7 x | 6.95 x | 6.29 x | 5.45 x | 4.81 x | 4.62 x |
| EV / FCF | 33.5 x | 27.7 x | 66.9 x | 12.2 x | - | 24.2 x | 19.4 x | 15 x |
| FCF Yield | 2.98% | 3.61% | 1.5% | 8.17% | - | 4.14% | 5.16% | 6.65% |
| Price to Book | 3.23 x | 1.39 x | 1.69 x | 1.11 x | 0.97 x | 0.92 x | 0.96 x | 0.93 x |
| Nbr of stocks (in thousands) | 52,276 | 52,287 | 54,899 | 54,207 | 53,375 | 53,374 | - | - |
| Reference price 2 | 2,451 | 1,057 | 1,325 | 997.0 | 834.0 | 860.0 | 860.0 | 860.0 |
| Announcement Date | 4/26/19 | 4/28/20 | 4/28/21 | 4/28/22 | 4/28/23 | 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 | 63,747 | 59,771 | 57,225 | 59,053 | 58,933 | 61,335 | 63,453 | 67,000 |
| EBITDA 1 | 11,754 | 8,891 | 6,771 | 7,775 | 7,073 | 8,430 | 9,540 | 9,940 |
| EBIT 1 | 5,824 | 3,300 | 1,436 | 2,670 | 1,799 | 1,981 | 3,500 | 4,012 |
| Operating Margin | 9.14% | 5.52% | 2.51% | 4.52% | 3.05% | 3.23% | 5.52% | 5.99% |
| Earnings before Tax (EBT) 1 | 5,519 | 4,168 | 1,611 | 4,961 | 4,109 | 3,412 | 3,600 | 4,100 |
| Net income 1 | 3,206 | 2,633 | 1,248 | 3,658 | 2,770 | 2,078 | 2,305 | 2,828 |
| Net margin | 5.03% | 4.41% | 2.18% | 6.19% | 4.7% | 3.39% | 3.63% | 4.22% |
| EPS 2 | 61.15 | 50.37 | 22.54 | 66.94 | 51.43 | 38.94 | 44.17 | 52.27 |
| Free Cash Flow 1 | 3,821 | 1,993 | 1,088 | 4,417 | - | 1,900 | 2,369 | 3,051 |
| FCF margin | 5.99% | 3.33% | 1.9% | 7.48% | - | 3.09% | 3.73% | 4.55% |
| FCF Conversion (EBITDA) | 32.51% | 22.42% | 16.07% | 56.81% | - | 22.54% | 24.83% | 30.69% |
| FCF Conversion (Net income) | 119.18% | 75.69% | 87.18% | 120.75% | - | 95% | 102.78% | 107.9% |
| Dividend per Share 2 | 24.00 | 25.00 | 25.00 | 26.00 | 27.00 | 28.50 | 27.80 | 28.75 |
| Announcement Date | 4/26/19 | 4/28/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 26,803 | 32,968 | 24,209 | 33,016 | 13,637 | 25,880 | 14,110 | 19,063 | 33,173 | 12,254 | 13,675 | 25,929 | 14,281 | 18,723 | 33,004 | 12,793 | 14,360 | 27,153 | 14,860 | 19,322 | 34,182 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | -334 | 3,634 | -1,460 | 2,896 | -43 | -456 | 517 | 2,609 | 3,126 | -923 | -62 | -985 | 134 | 2,650 | 2,784 | -1,344 | -237 | -1,581 | 477 | 3,085 | 3,562 |
| Operating Margin | -1.25% | 11.02% | -6.03% | 8.77% | -0.32% | -1.76% | 3.66% | 13.69% | 9.42% | -7.53% | -0.45% | -3.8% | 0.94% | 14.15% | 8.44% | -10.51% | -1.65% | -5.82% | 3.21% | 15.97% | 10.42% |
| Earnings before Tax (EBT) 1 | -56 | - | -1,233 | 2,844 | -56 | -411 | 3,051 | - | - | -517 | - | -699 | 1,107 | - | - | -1,390 | -254 | -1,644 | 527 | 4,529 | 5,056 |
| Net income 1 | -224 | 2,857 | -723 | 1,971 | 218 | -80 | 2,147 | 1,591 | - | -536 | -167 | -703 | 883 | 2,590 | 3,473 | -989 | -232 | -1,221 | 350 | 2,949 | 3,299 |
| Net margin | -0.84% | 8.67% | -2.99% | 5.97% | 1.6% | -0.31% | 15.22% | 8.35% | - | -4.37% | -1.22% | -2.71% | 6.18% | 13.83% | 10.52% | -7.73% | -1.62% | -4.5% | 2.36% | 15.26% | 9.65% |
| EPS | -4.290 | - | -13.01 | - | - | -1.470 | 39.26 | - | - | -9.900 | - | -13.00 | 16.34 | - | - | -18.55 | - | -22.89 | 6.550 | - | - |
| Dividend per Share | 12.50 | - | 12.50 | - | - | 12.50 | - | - | - | - | - | 13.50 | - | - | - | - | - | 13.50 | - | - | - |
| Announcement Date | 10/29/19 | 4/28/20 | 10/28/20 | 4/28/21 | 10/28/21 | 10/28/21 | 1/31/22 | 4/28/22 | 4/28/22 | 7/28/22 | 10/28/22 | 10/28/22 | 1/31/23 | 4/28/23 | 4/28/23 | 7/28/23 | 10/27/23 | 10/27/23 | 1/31/24 | 4/26/24 | 4/26/24 |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | 405 | 3,992 | 5,537 | 6,149 | 7,295 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 3,821 | 1,993 | 1,088 | 4,417 | - | 1,900 | 2,369 | 3,051 |
| ROE (net income / shareholders' equity) | 8.1% | 6.6% | 3% | 8.1% | 5.9% | 4.4% | 4.9% | 6.32% |
| ROA (Net income/ Total Assets) | 8.72% | 5.32% | 2.39% | 4.05% | 2.82% | 2.83% | 5% | 6.4% |
| Assets 1 | 36,754 | 49,516 | 52,237 | 90,419 | 98,276 | 73,402 | 46,100 | 44,180 |
| Book Value Per Share 2 | 759.0 | 760.0 | 786.0 | 895.0 | 859.0 | 922.0 | 892.0 | 922.0 |
| Cash Flow per Share | 165.0 | 153.0 | 116.0 | 158.0 | 147.0 | 139.0 | - | - |
| Capex 1 | 5,214 | 6,002 | 5,263 | 5,608 | 5,536 | 6,125 | 6,200 | 6,250 |
| Capex / Sales | 8.18% | 10.04% | 9.2% | 9.5% | 9.39% | 9.96% | 9.77% | 9.33% |
| Announcement Date | 4/26/19 | 4/28/20 | 4/28/21 | 4/28/22 | 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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
860
JPY
Average target price
966.7
JPY
Spread / Average Target
+12.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.60% | 292M | |
| +2.36% | 8.29B | |
| +9.50% | 6.43B | |
| +38.74% | 5.07B | |
| +14.98% | 3.56B | |
| +8.71% | 3B | |
| +21.44% | 3.06B | |
| -1.11% | 2.42B | |
| +7.85% | 1.71B | |
| +17.55% | 1.64B |
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