AEON CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,387 JPY | +1.71% |
|
+1.96% | +7.49% |
Valuation
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,974,579 | 1,695,704 | 2,707,475 | 2,198,481 | 2,170,522 | 2,898,935 | - | - |
| Enterprise Value (EV) 1 | 3,291,003 | 3,054,251 | 4,436,559 | 3,728,632 | 3,817,720 | 3,058,943 | 5,273,543 | 5,053,186 |
| P/E ratio | 83.5 x | 63.2 x | -38.1 x | 338 x | 101 x | 68.4 x | 59.9 x | 50.1 x |
| Yield | 1.45% | 1.79% | 1.12% | 1.39% | 1.42% | 1.01% | 1.12% | 1.1% |
| Capitalization / Revenue | 0.23 x | 0.2 x | 0.31 x | 0.25 x | 0.24 x | 0.32 x | 0.29 x | 0.29 x |
| EV / Revenue | 0.39 x | 0.35 x | 0.52 x | 0.43 x | 0.42 x | 0.32 x | 0.53 x | 0.5 x |
| EV / EBITDA | 7.16 x | 6.01 x | 9.92 x | 7.53 x | 6.98 x | 5.13 x | 8.65 x | 7.9 x |
| EV / FCF | 157 x | 17.6 x | 81.2 x | -26.7 x | 38.7 x | 18.8 x | 82 x | 37.9 x |
| FCF Yield | 0.64% | 5.7% | 1.23% | -3.74% | 2.58% | 5.31% | 1.22% | 2.64% |
| Price to Book | 1.81 x | 1.59 x | 2.79 x | 2.3 x | 2.19 x | 2.9 x | 2.84 x | 2.78 x |
| Nbr of stocks (in thousands) | 841,679 | 841,749 | 845,294 | 846,383 | 854,536 | 855,901 | - | - |
| Reference price 2 | 2,346 | 2,014 | 3,203 | 2,598 | 2,540 | 3,387 | 3,387 | 3,387 |
| Announcement Date | 4/10/19 | 4/10/20 | 4/9/21 | 4/8/22 | 4/12/23 | 4/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,518,215 | 8,604,207 | 8,603,910 | 8,715,957 | 9,116,823 | 9,553,557 | 9,876,885 | 10,133,101 |
| EBITDA 1 | 459,392 | 508,277 | 447,186 | 495,337 | 547,055 | 595,755 | 609,683 | 639,573 |
| EBIT 1 | 212,256 | 215,530 | 150,586 | 174,312 | 209,783 | 250,822 | 267,860 | 291,239 |
| Operating Margin | 2.49% | 2.5% | 1.75% | 2% | 2.3% | 2.63% | 2.71% | 2.87% |
| Earnings before Tax (EBT) 1 | 168,083 | 174,664 | 53,219 | 122,823 | 168,347 | 181,470 | 209,840 | 237,244 |
| Net income 1 | 23,637 | 26,838 | -71,024 | 6,504 | 21,381 | 44,692 | 48,347 | 57,814 |
| Net margin | 0.28% | 0.31% | -0.83% | 0.07% | 0.23% | 0.47% | 0.49% | 0.57% |
| EPS 2 | 28.11 | 31.88 | -84.06 | 7.690 | 25.11 | 52.25 | 56.55 | 67.61 |
| Free Cash Flow 1 | 20,903 | 173,954 | 54,647 | -139,402 | 98,587 | 261,750 | 64,300 | 133,164 |
| FCF margin | 0.25% | 2.02% | 0.64% | -1.6% | 1.08% | 2.76% | 0.65% | 1.31% |
| FCF Conversion (EBITDA) | 4.55% | 34.22% | 12.22% | - | 18.02% | 45.04% | 10.55% | 20.82% |
| FCF Conversion (Net income) | 88.43% | 648.16% | - | - | 461.1% | 687.12% | 133% | 230.33% |
| Dividend per Share 2 | 34.00 | 36.00 | 36.00 | 36.00 | 36.00 | 36.00 | 38.00 | 37.25 |
| Announcement Date | 4/10/19 | 4/10/20 | 4/9/21 | 4/8/22 | 4/12/23 | 4/10/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: February | 2020 S1 | 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 S1 | 2025 Q3 | 2025 Q4 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,290,215 | 4,270,532 | 2,191,704 | 4,344,919 | 2,105,648 | 2,265,390 | 2,203,227 | 2,283,957 | 4,487,184 | 2,234,602 | 2,395,037 | 2,324,798 | 2,386,537 | 4,711,335 | 2,314,520 | 2,527,702 | 2,465,000 | 2,536,500 | - | 2,427,000 | 2,631,500 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 86,326 | 33,902 | 38,582 | 77,765 | 11,480 | 85,067 | 43,897 | 51,980 | 95,877 | 16,802 | 97,104 | 51,469 | 66,154 | 117,623 | 25,200 | 107,999 | 53,100 | 67,733 | 110,500 | 30,333 | 116,000 | 119,800 |
| Operating Margin | 2.01% | 0.79% | 1.76% | 1.79% | 0.55% | 3.76% | 1.99% | 2.28% | 2.14% | 0.75% | 4.05% | 2.21% | 2.77% | 2.5% | 1.09% | 4.27% | 2.15% | 2.67% | - | 1.25% | 4.41% | - |
| Earnings before Tax (EBT) | 65,631 | -14,667 | - | 70,819 | 8,263 | - | 68,832 | - | 106,631 | 1,565 | - | 45,231 | - | 95,433 | 21,921 | - | - | - | - | - | - | - |
| Net income 1 | 3,791 | -57,556 | -413 | 4,588 | -13,544 | 15,460 | 19,372 | -1,334 | 18,038 | -21,720 | 25,063 | 17,728 | 5,590 | 23,318 | -4,959 | 26,333 | 19,100 | 9,200 | - | -2,000 | 25,700 | - |
| Net margin | 0.09% | -1.35% | -0.02% | 0.11% | -0.64% | 0.68% | 0.88% | -0.06% | 0.4% | -0.97% | 1.05% | 0.76% | 0.23% | 0.49% | -0.21% | 1.04% | 0.77% | 0.36% | - | -0.08% | 0.98% | - |
| EPS 2 | 4.500 | -68.14 | -0.4800 | 5.430 | -16.02 | 18.28 | 22.88 | -1.630 | 21.25 | -25.58 | 29.44 | 20.74 | 6.530 | 27.27 | -5.800 | 30.80 | 7.010 | 4.680 | - | -10.52 | 51.44 | - |
| Dividend per Share | 18.00 | 18.00 | - | 18.00 | - | - | - | - | 18.00 | - | - | - | - | 18.00 | - | - | - | - | - | - | - | - |
| Announcement Date | 10/9/19 | 10/7/20 | 10/6/21 | 10/6/21 | 1/12/22 | 4/8/22 | 7/6/22 | 10/5/22 | 10/5/22 | 1/13/23 | 4/12/23 | 7/12/23 | 10/11/23 | 10/11/23 | 1/12/24 | 4/10/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,316,424 | 1,358,547 | 1,729,084 | 1,530,151 | 1,647,198 | 2,034,122 | 2,374,608 | 2,154,251 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.866 x | 2.673 x | 3.867 x | 3.089 x | 3.011 x | 3.5 x | 3.895 x | 3.368 x |
| Free Cash Flow 1 | 20,903 | 173,954 | 54,647 | -139,402 | 98,587 | 261,750 | 64,300 | 133,164 |
| ROE (net income / shareholders' equity) | 2.1% | 2.5% | -7% | 0.7% | 2.2% | 4.4% | 4.79% | 5.94% |
| ROA (Net income/ Total Assets) | 2.21% | 1.95% | -0.63% | 1.45% | 1.7% | 1.88% | 1.74% | 1.89% |
| Assets 1 | 1,071,463 | 1,376,428 | 11,272,041 | 449,923 | 1,258,439 | 2,378,993 | 2,772,568 | 3,057,024 |
| Book Value Per Share 2 | 1,299 | 1,265 | 1,148 | 1,131 | 1,161 | 1,232 | 1,194 | 1,218 |
| Cash Flow per Share 2 | 322.0 | 380.0 | 267.0 | 371.0 | 402.0 | 436.0 | 499.0 | 510.0 |
| Capex 1 | 448,971 | 450,706 | 356,190 | 360,111 | 410,345 | 476,117 | 488,750 | 461,000 |
| Capex / Sales | 5.27% | 5.24% | 4.14% | 4.13% | 4.5% | 4.98% | 4.95% | 4.55% |
| Announcement Date | 4/10/19 | 4/10/20 | 4/9/21 | 4/8/22 | 4/12/23 | 4/10/24 | - | - |
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
A-
Sell
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
8
Last Close Price
3,387
JPY
Average target price
2,794
JPY
Spread / Average Target
-17.52%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +7.49% | 18.44B | |
| +25.14% | 530B | |
| +14.58% | 37.79B | |
| -0.41% | 36.26B | |
| +23.40% | 35.42B | |
| +9.71% | 29.22B | |
| +7.06% | 27.37B | |
| -15.05% | 25.62B | |
| +17.71% | 18.87B | |
| +2.68% | 14.03B |
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