MIZUNO CORPORATION |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7,850 JPY | -2.12% |
|
+6.66% | +99.75% |
| Feb. 28 | Japan's Nikkei slips from record high as rally pauses for breath | RE |
| Jan. 10 | At CES, legacy automakers scramble to keep up in AI arms race | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 65,072 | 47,619 | 55,538 | 53,892 | 79,299 | 205,081 | - | - |
| Enterprise Value (EV) 1 | 70,071 | 47,624 | 50,334 | 40,090 | 79,290 | 143,339 | 189,062 | 189,062 |
| P/E ratio | 10.8 x | 10.3 x | 14.8 x | 6.99 x | 8.01 x | 11.4 x | 14.2 x | 13.2 x |
| Yield | 1.95% | 2.67% | 2.3% | 2.84% | 2.25% | 1.89% | 1.59% | 1.77% |
| Capitalization / Revenue | 0.37 x | 0.28 x | 0.37 x | 0.31 x | 0.37 x | 0.71 x | 0.84 x | 0.8 x |
| EV / Revenue | 0.39 x | 0.28 x | 0.33 x | 0.23 x | 0.37 x | 0.62 x | 0.77 x | 0.74 x |
| EV / EBITDA | 6.64 x | 5.79 x | 7.49 x | 3.15 x | 5.07 x | 6.98 x | 8.7 x | 7.97 x |
| EV / FCF | 37.3 x | 9.23 x | 7.93 x | 4.06 x | -6.38 x | 7.5 x | 15.3 x | 13.7 x |
| FCF Yield | 2.68% | 10.8% | 12.6% | 24.6% | -15.7% | 13.3% | 6.53% | 7.3% |
| Price to Book | 0.68 x | 0.48 x | 0.54 x | 0.48 x | 0.64 x | 1.15 x | 1.4 x | 1.34 x |
| Nbr of stocks (in thousands) | 25,369 | 25,451 | 25,546 | 25,529 | 25,539 | 25,571 | - | - |
| Reference price 2 | 2,565 | 1,871 | 2,174 | 2,111 | 3,105 | 8,020 | 8,020 | 8,020 |
| Announcement Date | 5/10/19 | 5/8/20 | 5/12/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 178,108 | 169,742 | 150,419 | 172,744 | 212,044 | 229,711 | 245,345 | 257,172 |
| EBITDA 1 | 10,549 | 8,221 | 6,721 | 12,736 | 15,651 | 20,540 | 21,728 | 23,725 |
| EBIT 1 | 7,623 | 6,263 | 3,806 | 9,874 | 12,945 | 17,279 | 18,859 | 20,823 |
| Operating Margin | 4.28% | 3.69% | 2.53% | 5.72% | 6.1% | 7.52% | 7.69% | 8.1% |
| Earnings before Tax (EBT) 1 | 6,656 | 5,883 | 5,820 | 10,886 | 13,584 | 19,836 | 20,071 | 21,732 |
| Net income 1 | 6,005 | 4,625 | 3,748 | 7,717 | 9,910 | 14,311 | 14,478 | 15,531 |
| Net margin | 3.37% | 2.72% | 2.49% | 4.47% | 4.67% | 6.23% | 5.9% | 6.04% |
| EPS 2 | 237.0 | 182.0 | 146.9 | 302.0 | 387.7 | 559.7 | 566.2 | 607.5 |
| Free Cash Flow 1 | 1,879 | 5,158 | 6,348 | 9,863 | -12,433 | 19,123 | 12,343 | 13,806 |
| FCF margin | 1.05% | 3.04% | 4.22% | 5.71% | -5.86% | 8.32% | 5.03% | 5.37% |
| FCF Conversion (EBITDA) | 17.81% | 62.74% | 94.45% | 77.44% | - | 93.1% | 56.81% | 58.19% |
| FCF Conversion (Net income) | 31.29% | 111.52% | 169.37% | 127.81% | - | 133.62% | 85.26% | 88.89% |
| Dividend per Share 2 | 50.00 | 50.00 | 50.00 | 60.00 | 70.00 | 120.0 | 127.5 | 141.7 |
| Announcement Date | 5/10/19 | 5/8/20 | 5/12/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2024 Q1 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 85,459 | 66,243 | 85,051 | 39,800 | 46,194 | 99,204 | 48,198 | 57,176 | 114,506 | 53,540 | 61,665 | 115,205 | 61,000 | 62,900 | 123,900 | 58,100 | 68,000 | 126,100 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 4,204 | -903 | 5,571 | 2,496 | 3,796 | 8,140 | 2,014 | 5,344 | 9,294 | 4,444 | 3,541 | 7,985 | 5,370 | 4,230 | 9,600 | 4,980 | 4,420 | 9,400 |
| Operating Margin | 4.92% | -1.36% | 6.55% | 6.27% | 8.22% | 8.21% | 4.18% | 9.35% | 8.12% | 8.3% | 5.74% | 6.93% | 8.8% | 6.72% | 7.75% | 8.57% | 6.5% | 7.45% |
| Earnings before Tax (EBT) | 4,173 | 364 | 6,022 | 2,533 | 4,539 | 8,553 | 2,041 | 6,814 | 11,187 | 4,837 | - | - | 5,670 | 4,530 | 10,200 | 5,180 | 5,120 | 10,300 |
| Net income 1 | 2,902 | 125 | 4,284 | 1,814 | 3,505 | 6,429 | 1,393 | 4,670 | 7,782 | 3,540 | 2,989 | 6,529 | 4,000 | 3,200 | 7,200 | 3,900 | 3,900 | 7,800 |
| Net margin | 3.4% | 0.19% | 5.04% | 4.56% | 7.59% | 6.48% | 2.89% | 8.17% | 6.8% | 6.61% | 4.85% | 5.67% | 6.56% | 5.09% | 5.81% | 6.71% | 5.74% | 6.19% |
| EPS | 114.3 | 4.930 | 167.7 | 70.97 | 137.2 | 251.6 | 54.51 | 182.7 | 304.4 | 138.5 | - | - | - | - | - | - | - | - |
| Dividend per Share | 25.00 | 25.00 | 25.00 | - | - | 30.00 | - | - | 35.00 | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/8/19 | 11/6/20 | 11/10/21 | 2/8/22 | 8/9/22 | 11/9/22 | 2/8/23 | 8/8/23 | 11/9/23 | 2/8/24 | 5/10/24 | 5/10/24 | - | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 4,999 | 5 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 5,204 | 13,802 | 9 | 19,299 | 16,019 | 16,019 |
| Leverage (Debt/EBITDA) | 0.4739 x | 0.000608 x | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,879 | 5,158 | 6,348 | 9,863 | -12,433 | 19,123 | 12,343 | 13,806 |
| ROE (net income / shareholders' equity) | 6.4% | 4.7% | 3.7% | 7.2% | 8.4% | 10.8% | 10.1% | 10.4% |
| ROA (Net income/ Total Assets) | 4.94% | 3.92% | 3.87% | 4.77% | 7.72% | 9.56% | 7.82% | 8.54% |
| Assets 1 | 121,582 | 118,051 | 96,845 | 161,748 | 128,429 | 149,756 | 185,045 | 181,890 |
| Book Value Per Share 2 | 3,785 | 3,883 | 4,063 | 4,382 | 4,840 | 5,532 | 5,721 | 6,007 |
| Cash Flow per Share 2 | 337.0 | 282.0 | 245.0 | 399.0 | 492.0 | 686.0 | 416.0 | 595.0 |
| Capex 1 | 4,008 | 3,056 | 2,433 | 2,659 | 5,402 | 2,289 | 3,733 | 3,567 |
| Capex / Sales | 2.25% | 1.8% | 1.62% | 1.54% | 2.55% | 1% | 1.52% | 1.39% |
| Announcement Date | 5/10/19 | 5/8/20 | 5/12/21 | 5/12/22 | 5/12/23 | 5/10/24 | - | - |
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
2
Last Close Price
8,020
JPY
Average target price
8,372
JPY
Spread / Average Target
+4.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +99.75% | 1.31B | |
| +4.27% | 5.09B | |
| +24.03% | 4.83B | |
| +0.59% | 4.01B | |
| +4.25% | 2.74B | |
| +2.26% | 2.01B | |
| -50.90% | 1.11B | |
| +16.65% | 1.07B | |
| -5.94% | 920M | |
| +13.08% | 846M |
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