AGC INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5,371 JPY | -0.07% |
|
-2.11% | +2.58% |
| Jun. 04 | Transcript : AGC Inc. - Analyst/Investor Day | |
| Jun. 03 | Transcript : AGC Inc. - Analyst/Investor Day |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 870,749 | 797,825 | 1,218,240 | 974,193 | 1,108,883 | 1,139,735 | - | - |
| Enterprise Value (EV) 1 | 1,359,749 | 1,535,970 | 1,625,603 | 1,414,718 | 1,657,830 | 1,773,635 | 1,736,648 | 1,682,240 |
| P/E ratio | 19.6 x | 24.4 x | 9.82 x | -309 x | 17.2 x | 20.4 x | 11.4 x | 9.25 x |
| Yield | 3.05% | 3.33% | 3.83% | 4.78% | 4.01% | 3.91% | 4.02% | 4.12% |
| Capitalization / Revenue | 0.57 x | 0.56 x | 0.72 x | 0.48 x | 0.55 x | 0.54 x | 0.51 x | 0.49 x |
| EV / Revenue | 0.9 x | 1.09 x | 0.96 x | 0.69 x | 0.82 x | 0.85 x | 0.78 x | 0.73 x |
| EV / EBITDA | 5.55 x | 7 x | 4.36 x | 3.83 x | 5.45 x | 5.29 x | 4.48 x | 3.97 x |
| EV / FCF | -86.3 x | -96.3 x | 14 x | 19.7 x | 50.6 x | 66.4 x | 28.8 x | 21.5 x |
| FCF Yield | -1.16% | -1.04% | 7.14% | 5.08% | 1.98% | 1.51% | 3.47% | 4.65% |
| Price to Book | 0.75 x | 0.71 x | 0.93 x | 0.7 x | 0.77 x | 0.76 x | 0.74 x | 0.71 x |
| Nbr of stocks (in thousands) | 221,565 | 221,618 | 221,902 | 221,659 | 211,781 | 212,202 | - | - |
| Reference price 2 | 3,930 | 3,600 | 5,490 | 4,395 | 5,236 | 5,375 | 5,375 | 5,375 |
| Announcement Date | 2/5/20 | 2/5/21 | 2/8/22 | 2/8/23 | 2/7/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,518,039 | 1,412,306 | 1,697,383 | 2,035,874 | 2,019,254 | 2,098,695 | 2,220,415 | 2,303,844 |
| EBITDA 1 | 244,985 | 219,496 | 372,924 | 369,598 | 304,079 | 335,243 | 387,935 | 423,847 |
| EBIT 1 | 101,624 | 75,780 | 206,168 | 183,942 | 128,779 | 145,982 | 184,409 | 213,666 |
| Operating Margin | 6.69% | 5.37% | 12.15% | 9.04% | 6.38% | 6.96% | 8.31% | 9.27% |
| Earnings before Tax (EBT) 1 | 76,213 | 57,121 | 210,045 | 58,512 | 122,800 | 106,134 | 177,102 | 206,774 |
| Net income 1 | 44,434 | 32,715 | 123,840 | -3,152 | 65,798 | 49,764 | 100,815 | 124,148 |
| Net margin | 2.93% | 2.32% | 7.3% | -0.15% | 3.26% | 2.37% | 4.54% | 5.39% |
| EPS 2 | 200.8 | 147.8 | 559.1 | -14.22 | 304.7 | 263.6 | 471.2 | 580.9 |
| Free Cash Flow 1 | -15,755 | -15,956 | 116,141 | 71,834 | 32,756 | 26,700 | 60,267 | 78,271 |
| FCF margin | -1.04% | -1.13% | 6.84% | 3.53% | 1.62% | 1.27% | 2.71% | 3.4% |
| FCF Conversion (EBITDA) | - | - | 31.14% | 19.44% | 10.77% | 7.96% | 15.54% | 18.47% |
| FCF Conversion (Net income) | - | - | 93.78% | - | 49.78% | 53.65% | 59.78% | 63.05% |
| Dividend per Share 2 | 120.0 | 120.0 | 210.0 | 210.0 | 210.0 | 210.0 | 216.1 | 221.2 |
| Announcement Date | 2/5/20 | 2/5/21 | 2/8/22 | 2/8/23 | 2/7/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 Q1 | 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 | 780,550 | 654,500 | 757,806 | 811,332 | 463,878 | 886,051 | 472,667 | 505,673 | 978,340 | 520,560 | 537,024 | - | 489,208 | 496,092 | 985,300 | 498,500 | 535,450 | 1,033,950 | 498,740 | 525,230 | 1,014,700 | 529,475 | 561,875 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 60,137 | 20,600 | 55,180 | 95,208 | 59,788 | 110,960 | 57,784 | 57,556 | 115,340 | 36,760 | 31,848 | 68,602 | 34,247 | 30,053 | 64,300 | 31,200 | 33,280 | 64,480 | 24,143 | 33,304 | 55,600 | 40,973 | 44,668 | 89,000 |
| Operating Margin | 7.7% | 3.15% | 7.28% | 11.73% | 12.89% | 12.52% | 12.23% | 11.38% | 11.79% | 7.06% | 5.93% | - | 7% | 6.06% | 6.53% | 6.26% | 6.22% | 6.24% | 4.84% | 6.34% | 5.48% | 7.74% | 7.95% | - |
| Earnings before Tax (EBT) 1 | 33,657 | 16,500 | 40,621 | 97,133 | 24,955 | 112,912 | 54,354 | 63,241 | 117,595 | 47,632 | - | - | 36,569 | - | 65,970 | 33,242 | 23,588 | - | -6,303 | 29,503 | 23,200 | 34,700 | 43,400 | - |
| Net income 1 | 12,148 | 11,400 | 21,315 | 63,843 | -5,605 | 59,997 | 30,545 | 40,657 | 71,202 | 27,552 | - | - | 22,072 | - | 40,578 | 16,962 | 8,258 | 25,220 | -20,955 | 19,155 | -1,800 | 21,700 | 28,400 | - |
| Net margin | 1.56% | 1.74% | 2.81% | 7.87% | -1.21% | 6.77% | 6.46% | 8.04% | 7.28% | 5.29% | - | - | 4.51% | - | 4.12% | 3.4% | 1.54% | 2.44% | -4.2% | 3.65% | -0.18% | 4.1% | 5.05% | - |
| EPS | 54.90 | 51.70 | 96.14 | 288.3 | -25.38 | 270.8 | 137.8 | 183.4 | 321.3 | 124.3 | - | - | 99.91 | - | 185.2 | 79.76 | - | - | -98.90 | - | - | - | - | - |
| Dividend per Share | - | 60.00 | 60.00 | 80.00 | - | - | - | - | 105.0 | - | - | 105.0 | - | - | 105.0 | - | - | 105.0 | - | - | 105.0 | - | - | 105.0 |
| Announcement Date | 2/5/20 | 7/31/20 | 2/5/21 | 8/2/21 | 2/8/22 | 2/8/22 | 5/10/22 | 8/2/22 | 8/2/22 | 11/2/22 | 2/8/23 | 2/8/23 | 5/12/23 | 8/2/23 | 8/2/23 | 11/2/23 | 2/7/24 | 2/7/24 | 5/8/24 | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 489,000 | 738,145 | 407,363 | 440,525 | 548,947 | 633,900 | 596,913 | 542,505 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.996 x | 3.363 x | 1.092 x | 1.192 x | 1.805 x | 1.891 x | 1.539 x | 1.28 x |
| Free Cash Flow 1 | -15,755 | -15,956 | 116,141 | 71,834 | 32,756 | 26,700 | 60,267 | 78,271 |
| ROE (net income / shareholders' equity) | 3.9% | 2.9% | 10.2% | -0.2% | 4.6% | 3.35% | 6.79% | 7.9% |
| ROA (Net income/ Total Assets) | 3.33% | 2.35% | 8.08% | 2.14% | 4.27% | 2.49% | 3.42% | 3.88% |
| Assets 1 | 1,332,558 | 1,394,567 | 1,533,074 | -147,604 | 1,539,981 | 1,995,495 | 2,951,030 | 3,200,941 |
| Book Value Per Share 2 | 5,230 | 5,039 | 5,930 | 6,271 | 6,832 | 7,036 | 7,282 | 7,527 |
| Cash Flow per Share 2 | 849.0 | 797.0 | 1,312 | 823.0 | 1,117 | 1,349 | 1,512 | 1,719 |
| Capex 1 | 207,661 | 241,348 | 216,503 | 236,553 | 231,715 | 247,067 | 233,914 | 228,767 |
| Capex / Sales | 13.68% | 17.09% | 12.76% | 11.62% | 11.48% | 11.77% | 10.53% | 9.93% |
| Announcement Date | 2/5/20 | 2/5/21 | 2/8/22 | 2/8/23 | 2/7/24 | - | - | - |
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
OUTPERFORM
Number of Analysts
9
Last Close Price
5,375
JPY
Average target price
5,857
JPY
Spread / Average Target
+8.96%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.58% | 7.28B | |
| +14.22% | 43.24B | |
| +6.44% | 32.62B | |
| +30.86% | 19.41B | |
| -12.38% | 17.85B | |
| -1.42% | 14.56B | |
| -3.21% | 8.71B | |
| -13.33% | 8.25B | |
| +37.37% | 7.48B | |
| -18.68% | 6.79B |
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