MITSUI CHEMICALS, INC. |
Market Closed -
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|
5-day change | 1st Jan Change | ||
| 4,692 JPY | +0.06% |
|
+0.77% | +12.20% |
| May. 15 | Transcript : Mitsui Chemicals, Inc., 2024 Earnings Call, May 15, 2024 | |
| May. 14 | Glydways, Inc. announced that it has received $76 million in funding from a group of investors | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 521,417 | 397,353 | 684,842 | 597,105 | 651,757 | 892,112 | - | - |
| Enterprise Value (EV) 1 | 892,379 | 776,444 | 999,071 | 1,038,543 | 1,203,696 | 1,369,954 | 1,472,923 | 1,474,505 |
| P/E ratio | 6.93 x | 10.5 x | 11.7 x | 5.46 x | 7.91 x | 16.5 x | 11 x | 9.33 x |
| Yield | 3.74% | 4.88% | 2.86% | 3.88% | 3.52% | 3.23% | 3.27% | 3.4% |
| Capitalization / Revenue | 0.35 x | 0.3 x | 0.57 x | 0.37 x | 0.35 x | 0.47 x | 0.49 x | 0.47 x |
| EV / Revenue | 0.6 x | 0.58 x | 0.82 x | 0.64 x | 0.64 x | 0.78 x | 0.8 x | 0.78 x |
| EV / EBITDA | 6.24 x | 6.27 x | 6.52 x | 4.49 x | 5.44 x | 8.09 x | 6.56 x | 5.8 x |
| EV / FCF | 19.7 x | 20.1 x | 10.3 x | -9.22 x | -236 x | -56.2 x | 112 x | 83.3 x |
| FCF Yield | 5.07% | 4.98% | 9.69% | -10.8% | -0.42% | -1.78% | 0.9% | 1.2% |
| Price to Book | 0.94 x | 0.74 x | 1.13 x | 0.84 x | 0.82 x | 0.95 x | 1 x | 0.92 x |
| Nbr of stocks (in thousands) | 195,214 | 193,736 | 195,949 | 193,238 | 191,131 | 190,135 | - | - |
| Reference price 2 | 2,671 | 2,051 | 3,495 | 3,090 | 3,410 | 4,692 | 4,692 | 4,692 |
| Announcement Date | 5/15/19 | 5/14/20 | 5/13/21 | 5/13/22 | 5/12/23 | 5/15/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,482,909 | 1,338,987 | 1,211,725 | 1,612,688 | 1,879,547 | 1,749,743 | 1,832,398 | 1,900,289 |
| EBITDA 1 | 142,931 | 123,742 | 153,242 | 231,532 | 221,078 | 169,373 | 224,621 | 254,147 |
| EBIT 1 | 93,427 | 71,636 | 85,140 | 147,310 | 128,998 | 74,124 | 119,500 | 142,230 |
| Operating Margin | 6.3% | 5.35% | 7.03% | 9.13% | 6.86% | 4.24% | 6.52% | 7.48% |
| Earnings before Tax (EBT) 1 | 105,297 | 68,460 | 74,243 | 141,274 | 117,278 | 73,331 | 114,089 | 138,091 |
| Net income 1 | 76,115 | 37,944 | 57,873 | 109,990 | 82,936 | 49,999 | 80,692 | 95,141 |
| Net margin | 5.13% | 2.83% | 4.78% | 6.82% | 4.41% | 2.86% | 4.4% | 5.01% |
| EPS 2 | 385.6 | 194.9 | 298.0 | 565.4 | 431.2 | 263.0 | 425.2 | 502.8 |
| Free Cash Flow 1 | 45,237 | 38,680 | 96,768 | -112,650 | -5,099 | -24,364 | 13,200 | 17,700 |
| FCF margin | 3.05% | 2.89% | 7.99% | -6.99% | -0.27% | -1.39% | 0.72% | 0.93% |
| FCF Conversion (EBITDA) | 31.65% | 31.26% | 63.15% | - | - | 14.65% | 5.88% | 6.96% |
| FCF Conversion (Net income) | 59.43% | 101.94% | 167.21% | - | - | 52.97% | 16.36% | 18.6% |
| Dividend per Share 2 | 100.0 | 100.0 | 100.0 | 120.0 | 120.0 | 140.0 | 153.3 | 159.7 |
| Announcement Date | 5/15/19 | 5/14/20 | 5/13/21 | 5/13/22 | 5/12/23 | 5/15/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 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 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 674,914 | 664,073 | 536,979 | 674,746 | 372,944 | 743,535 | 421,544 | 447,609 | 869,153 | 476,113 | 474,964 | 951,077 | 477,834 | 450,636 | 928,470 | 407,925 | 415,730 | 823,655 | 450,875 | 475,213 | 926,088 | 426,767 | 446,967 | 465,967 | 476,967 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 34,471 | 37,165 | 17,901 | 66,566 | 41,272 | 94,499 | 41,527 | 11,284 | 52,811 | 42,949 | 29,559 | 72,508 | 34,510 | 21,980 | 56,490 | 13,887 | 17,358 | 31,245 | 28,778 | 14,101 | 42,879 | 25,233 | 29,633 | 33,233 | 29,533 |
| Operating Margin | 5.11% | 5.6% | 3.33% | 9.87% | 11.07% | 12.71% | 9.85% | 2.52% | 6.08% | 9.02% | 6.22% | 7.62% | 7.22% | 4.88% | 6.08% | 3.4% | 4.18% | 3.79% | 6.38% | 2.97% | 4.63% | 5.91% | 6.63% | 7.13% | 6.19% |
| Earnings before Tax (EBT) 1 | 23,255 | - | 15,746 | 58,497 | 40,471 | 92,356 | 37,223 | 11,695 | 48,918 | 40,819 | 29,835 | 70,654 | 29,533 | 17,091 | 46,624 | 14,151 | 18,827 | 32,978 | 26,196 | 14,157 | 40,353 | 29,800 | 33,000 | 29,900 | 17,900 |
| Net income 1 | 11,758 | 26,186 | 9,602 | 48,271 | 31,316 | 73,940 | 26,127 | 9,923 | 36,050 | 27,992 | 16,361 | 44,353 | 20,593 | 17,990 | 38,583 | 9,591 | 11,096 | 20,687 | 16,574 | 12,738 | 29,312 | 21,100 | 22,600 | 21,300 | 11,600 |
| Net margin | 1.74% | 3.94% | 1.79% | 7.15% | 8.4% | 9.94% | 6.2% | 2.22% | 4.15% | 5.88% | 3.44% | 4.66% | 4.31% | 3.99% | 4.16% | 2.35% | 2.67% | 2.51% | 3.68% | 2.68% | 3.17% | 4.94% | 5.06% | 4.57% | 2.43% |
| EPS 2 | 60.27 | - | 49.89 | - | 160.1 | 377.6 | 135.7 | 52.13 | - | 144.9 | 84.60 | 229.5 | 107.0 | 94.74 | - | 50.46 | 58.36 | 108.8 | 87.17 | 67.00 | - | 94.67 | 112.6 | 119.4 | 89.15 |
| Dividend per Share 2 | 50.00 | - | 50.00 | - | 55.00 | 55.00 | - | 65.00 | - | - | 60.00 | 60.00 | - | 60.00 | - | - | 70.00 | 70.00 | - | 70.00 | - | - | 75.00 | - | 75.00 |
| Announcement Date | 11/6/19 | 5/14/20 | 11/11/20 | 5/13/21 | 11/5/21 | 11/5/21 | 2/3/22 | 5/13/22 | 5/13/22 | 8/5/22 | 11/8/22 | 11/8/22 | 2/3/23 | 5/12/23 | 5/12/23 | 8/4/23 | 11/8/23 | 11/8/23 | 2/7/24 | 5/15/24 | 5/15/24 | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 370,962 | 379,091 | 314,229 | 441,438 | 551,939 | 546,466 | 580,811 | 582,393 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.595 x | 3.064 x | 2.051 x | 1.907 x | 2.497 x | 3.226 x | 2.586 x | 2.292 x |
| Free Cash Flow 1 | 45,237 | 38,680 | 96,768 | -112,650 | -5,099 | -24,364 | 13,200 | 17,700 |
| ROE (net income / shareholders' equity) | 14.3% | 7% | 10.2% | 16.7% | 11.1% | 6.1% | 9.08% | 10.7% |
| ROA (Net income/ Total Assets) | 6.99% | 4.4% | 3.75% | 8.09% | 5.86% | 3.42% | 5.24% | 5.8% |
| Assets 1 | 1,088,511 | 863,260 | 1,544,310 | 1,359,786 | 1,415,469 | 1,460,477 | 1,538,749 | 1,639,097 |
| Book Value Per Share 2 | 2,830 | 2,762 | 3,103 | 3,688 | 4,140 | 4,538 | 4,701 | 5,123 |
| Cash Flow per Share 2 | 633.0 | 459.0 | 693.0 | 998.0 | 910.0 | 764.0 | 910.0 | 988.0 |
| Capex 1 | 61,924 | 76,294 | 93,170 | 207,132 | 168,002 | 185,703 | 179,017 | 172,350 |
| Capex / Sales | 4.18% | 5.7% | 7.69% | 12.84% | 8.94% | 10.61% | 9.77% | 9.07% |
| Announcement Date | 5/15/19 | 5/14/20 | 5/13/21 | 5/13/22 | 5/12/23 | 5/15/24 | - | - |
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
BUY
Number of Analysts
12
Last Close Price
4,692
JPY
Average target price
5,126
JPY
Spread / Average Target
+9.25%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +12.20% | 5.71B | |
| +6.34% | 106B | |
| -10.78% | 59.59B | |
| +61.90% | 46.3B | |
| +14.54% | 38.48B | |
| +1.03% | 31.01B | |
| +9.32% | 19.84B | |
| +10.83% | 16.81B | |
| +7.90% | 13.95B | |
| -5.22% | 13B |
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