Z HOLDINGS CORPORATION |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 377.7 JPY | 0.00% |
|
+0.72% | -24.41% |
| Jun. 07 | South Korea startup Wrtn raises $18 mln in funding amid AI race | RE |
| May. 29 | Glass Lewis ESG Controversy Alert: LY | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,377,698 | 1,657,333 | 4,181,834 | 4,019,314 | 2,794,726 | 2,833,164 | - | - |
| Enterprise Value (EV) 1 | 1,046,126 | 1,863,669 | 4,505,671 | 4,558,294 | 3,056,674 | 3,369,652 | 3,177,854 | 2,954,576 |
| P/E ratio | 18.4 x | 20.6 x | 39.3 x | 52.6 x | 15.6 x | 25.7 x | 21.8 x | 18.8 x |
| Yield | 3.27% | 2.55% | 1.01% | 1.08% | 1.49% | 1.43% | 1.56% | 1.76% |
| Capitalization / Revenue | 1.44 x | 1.57 x | 3.47 x | 2.56 x | 1.67 x | 1.6 x | 1.43 x | 1.32 x |
| EV / Revenue | 1.1 x | 1.77 x | 3.74 x | 2.91 x | 1.83 x | 1.86 x | 1.61 x | 1.37 x |
| EV / EBITDA | 5.42 x | 7.91 x | 17.1 x | 14 x | 6.6 x | 8.12 x | 7.45 x | 6.36 x |
| EV / FCF | 9.67 x | -7.17 x | 23 x | -121 x | 7.4 x | 59.7 x | 17.4 x | 14.1 x |
| FCF Yield | 10.3% | -13.9% | 4.34% | -0.82% | 13.5% | 1.68% | 5.74% | 7.11% |
| Price to Book | 1.68 x | 2.15 x | 1.56 x | 1.5 x | 0.96 x | 0.96 x | 0.91 x | 0.88 x |
| Nbr of stocks (in thousands) | 5,083,758 | 4,762,452 | 7,595,050 | 7,493,129 | 7,496,584 | 7,501,097 | - | - |
| Reference price 2 | 271.0 | 348.0 | 550.6 | 536.4 | 372.8 | 377.7 | 377.7 | 377.7 |
| Announcement Date | 4/25/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | 5/8/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 954,714 | 1,052,943 | 1,205,846 | 1,567,421 | 1,672,377 | 1,814,663 | 1,976,801 | 2,153,607 |
| EBITDA 1 | 193,026 | 235,695 | 264,205 | 325,247 | 463,309 | 414,917 | 426,838 | 464,874 |
| EBIT 1 | 140,528 | 152,276 | 162,125 | 189,503 | 314,533 | 208,191 | 234,195 | 267,251 |
| Operating Margin | 14.72% | 14.46% | 13.44% | 12.09% | 18.81% | 11.47% | 11.85% | 12.41% |
| Earnings before Tax (EBT) 1 | 123,370 | 135,676 | 142,615 | 158,542 | 235,219 | 181,621 | 215,014 | 255,086 |
| Net income 1 | 78,677 | 81,675 | 70,145 | 77,316 | 178,868 | 113,199 | 127,449 | 151,685 |
| Net margin | 8.24% | 7.76% | 5.82% | 4.93% | 10.7% | 6.24% | 6.45% | 7.04% |
| EPS 2 | 14.74 | 16.88 | 14.02 | 10.20 | 23.87 | 15.10 | 17.34 | 20.06 |
| Free Cash Flow 1 | 108,186 | -259,756 | 195,572 | -37,585 | 412,837 | 52,317 | 182,389 | 210,108 |
| FCF margin | 11.33% | -24.67% | 16.22% | -2.4% | 24.69% | 2.87% | 9.23% | 9.76% |
| FCF Conversion (EBITDA) | 56.05% | - | 74.02% | - | 89.11% | 13.49% | 42.73% | 45.2% |
| FCF Conversion (Net income) | 137.51% | - | 278.81% | - | 230.81% | 39.41% | 143.11% | 138.52% |
| Dividend per Share 2 | 8.860 | 8.860 | 5.560 | 5.810 | 5.560 | 5.560 | 5.875 | 6.637 |
| Announcement Date | 4/25/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | 5/8/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 484,100 | 557,223 | 377,610 | 750,962 | 409,174 | 407,285 | 390,565 | 394,344 | 784,909 | 453,687 | 433,781 | - | 430,523 | 441,276 | 871,799 | 475,041 | 467,823 | 458,889 | 469,164 | 508,952 | 486,783 |
| EBITDA 1 | - | - | 100,834 | - | 94,427 | 48,241 | 86,520 | 80,676 | - | 93,566 | 72,558 | - | 99,993 | 102,077 | - | 109,846 | 101,762 | 107,261 | 105,328 | 118,608 | 90,472 |
| EBIT 1 | 75,600 | 98,237 | 64,084 | 115,469 | 61,046 | 12,988 | 49,721 | 49,757 | 99,478 | 190,782 | 24,273 | - | 59,397 | 56,731 | 116,128 | 58,152 | 33,911 | 60,747 | 59,074 | 65,628 | 49,699 |
| Operating Margin | 15.62% | 17.63% | 16.97% | 15.38% | 14.92% | 3.19% | 12.73% | 12.62% | 12.67% | 42.05% | 5.6% | - | 13.8% | 12.86% | 13.32% | 12.24% | 7.25% | 13.24% | 12.59% | 12.89% | 10.21% |
| Earnings before Tax (EBT) 1 | 75,586 | 86,748 | 54,277 | 106,060 | 30,152 | 22,330 | 45,221 | 42,462 | 87,683 | 141,606 | 5,930 | - | 73,198 | 50,222 | 123,420 | 46,759 | 11,442 | 59,736 | 53,794 | 58,111 | 40,323 |
| Net income 1 | 51,100 | 45,837 | 27,609 | 54,226 | 12,595 | 10,495 | 25,232 | 15,075 | 40,307 | 139,844 | -1,283 | - | 37,316 | 56,420 | 93,736 | 28,712 | -9,249 | 33,422 | 38,256 | 30,668 | 19,344 |
| Net margin | 10.56% | 8.23% | 7.31% | 7.22% | 3.08% | 2.58% | 6.46% | 3.82% | 5.14% | 30.82% | -0.3% | - | 8.67% | 12.79% | 10.75% | 6.04% | -1.98% | 7.28% | 8.15% | 6.03% | 3.97% |
| EPS 2 | 10.41 | 9.620 | 3.640 | 7.140 | 1.660 | 1.400 | 3.370 | 2.010 | 5.380 | 18.66 | -0.1700 | - | 4.980 | 7.520 | 12.50 | 3.830 | -1.230 | 4.980 | 7.525 | 3.954 | -1.359 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | 5.560 | 5.560 | - | - | - | - | 5.560 | - | - | - | 6.780 |
| Announcement Date | 11/1/19 | 10/30/20 | 11/2/21 | 11/2/21 | 2/2/22 | 4/28/22 | 8/3/22 | 11/2/22 | 11/2/22 | 2/2/23 | 4/28/23 | 4/28/23 | 8/3/23 | 11/7/23 | 11/7/23 | 2/6/24 | 5/8/24 | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 206,336 | 323,837 | 538,980 | 261,948 | 462,322 | 344,690 | 121,412 |
| Net Cash position 1 | 331,572 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.8754 x | 1.226 x | 1.657 x | 0.5654 x | 1.114 x | 0.8075 x | 0.2612 x |
| Free Cash Flow 1 | 108,186 | -259,756 | 195,572 | -37,585 | 412,837 | 52,317 | 182,389 | 210,108 |
| ROE (net income / shareholders' equity) | 8.6% | 10.3% | 4.1% | 2.9% | 6.4% | 3.8% | 4.21% | 4.9% |
| ROA (Net income/ Total Assets) | 4.99% | 4.26% | 2.68% | 2.3% | 3% | 2.06% | 1.61% | 1.8% |
| Assets 1 | 1,577,186 | 1,915,370 | 2,614,317 | 3,366,644 | 5,969,051 | 5,494,964 | 7,902,322 | 8,450,426 |
| Book Value Per Share 2 | 161.0 | 162.0 | 353.0 | 358.0 | 389.0 | 405.0 | 413.0 | 427.0 |
| Cash Flow per Share 2 | 24.60 | 34.10 | 34.40 | 28.10 | 43.70 | 36.80 | -34.10 | 55.10 |
| Capex 1 | 41,771 | 85,126 | 70,741 | 272,633 | 148,986 | 140,558 | 147,898 | 159,507 |
| Capex / Sales | 4.38% | 8.08% | 5.87% | 17.39% | 8.91% | 7.7% | 7.48% | 7.41% |
| Announcement Date | 4/25/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | 5/8/24 | - | - |
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
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
377.7
JPY
Average target price
485.4
JPY
Spread / Average Target
+28.51%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -24.15% | 18.09B | |
| -19.48% | 33.62B | |
| -21.70% | 19.38B | |
| -.--% | 6.85B | |
| -14.16% | 238M | |
| +16.48% | 116M | |
| -8.01% | 69.58M |
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