ASAHI GROUP HOLDINGS, LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5,626 JPY | +0.63% |
|
-3.37% | +7.00% |
| May. 29 | Asahi Broadcasting to Divest 2% Stake in Animation Studio DLE | MT |
| May. 29 | Asahi Kasei Offering to Buy Calliditas Therapeutics for SEK11.8 Billion | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,282,605 | 2,150,506 | 2,267,161 | 2,087,025 | 2,664,130 | 2,832,837 | - | - |
| Enterprise Value (EV) 1 | 3,177,330 | 3,925,670 | 3,810,621 | 3,546,896 | 4,014,983 | 4,071,740 | 3,950,290 | 3,815,338 |
| P/E ratio | 16.1 x | 21.6 x | 14.8 x | 13.8 x | 16.2 x | 13.9 x | 13 x | 12.1 x |
| Yield | 2.01% | 2.5% | 2.44% | 2.74% | 2.3% | 2.45% | 2.94% | 3.16% |
| Capitalization / Revenue | 1.09 x | 1.06 x | 1.01 x | 0.83 x | 0.96 x | 0.96 x | 0.94 x | 0.92 x |
| EV / Revenue | 1.52 x | 1.94 x | 1.7 x | 1.41 x | 1.45 x | 1.38 x | 1.31 x | 1.24 x |
| EV / EBITDA | 10.1 x | 15.2 x | 11 x | 9.92 x | 10.2 x | 9.62 x | 8.86 x | 8.18 x |
| EV / FCF | 24.6 x | -4.06 x | 14.8 x | 18 x | 20.3 x | 18.3 x | 16 x | 14.4 x |
| FCF Yield | 4.06% | -24.6% | 6.74% | 5.55% | 4.94% | 5.46% | 6.27% | 6.94% |
| Price to Book | 1.83 x | 1.42 x | 1.29 x | 1.01 x | 1.08 x | 1.09 x | 1.05 x | 1 x |
| Nbr of stocks (in thousands) | 458,079 | 506,717 | 506,741 | 506,683 | 506,681 | 506,678 | - | - |
| Reference price 2 | 4,983 | 4,244 | 4,474 | 4,119 | 5,258 | 5,591 | 5,591 | 5,591 |
| Announcement Date | 2/13/20 | 2/12/21 | 2/15/22 | 2/14/23 | 2/13/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,089,048 | 2,027,762 | 2,236,076 | 2,511,108 | 2,769,091 | 2,947,898 | 3,016,776 | 3,081,006 |
| EBITDA 1 | 314,472 | 258,444 | 346,715 | 357,467 | 392,991 | 423,310 | 445,866 | 466,323 |
| EBIT 1 | 201,436 | 135,167 | 211,900 | 217,048 | 244,999 | 287,381 | 303,488 | 323,824 |
| Operating Margin | 9.64% | 6.67% | 9.48% | 8.64% | 8.85% | 9.75% | 10.06% | 10.51% |
| Earnings before Tax (EBT) 1 | 197,391 | 125,399 | 199,826 | 205,992 | 241,871 | 282,186 | 299,981 | 322,779 |
| Net income 1 | 142,207 | 92,826 | 153,500 | 151,555 | 164,073 | 202,956 | 217,095 | 231,455 |
| Net margin | 6.81% | 4.58% | 6.86% | 6.04% | 5.93% | 6.88% | 7.2% | 7.51% |
| EPS 2 | 310.4 | 196.5 | 302.9 | 299.1 | 323.8 | 400.9 | 430.5 | 462.4 |
| Free Cash Flow 1 | 129,086 | -967,513 | 257,009 | 196,805 | 198,257 | 222,377 | 247,520 | 264,839 |
| FCF margin | 6.18% | -47.71% | 11.49% | 7.84% | 7.16% | 7.54% | 8.2% | 8.6% |
| FCF Conversion (EBITDA) | 41.05% | - | 74.13% | 55.06% | 50.45% | 52.53% | 55.51% | 56.79% |
| FCF Conversion (Net income) | 90.77% | - | 167.43% | 129.86% | 120.83% | 109.57% | 114.01% | 114.42% |
| Dividend per Share 2 | 100.0 | 106.0 | 109.0 | 113.0 | 121.0 | 137.1 | 164.2 | 176.5 |
| Announcement Date | 2/13/20 | 2/12/21 | 2/15/22 | 2/14/23 | 2/13/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 S2 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 874,289 | - | 1,033,595 | 615,773 | 1,202,481 | 496,863 | 654,477 | 1,151,340 | 698,604 | 661,164 | 1,359,768 | 556,335 | 696,665 | 1,253,000 | 770,004 | 746,087 | 1,516,091 | 616,614 | 746,141 | 1,368,800 | 811,947 | 772,127 | - | - | - | - | - | - |
| EBITDA | - | - | - | 72,741 | - | 42,728 | 108,036 | - | 117,323 | 89,380 | 206,703 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 45,318 | - | 109,413 | 39,632 | - | 9,044 | 72,362 | 81,406 | 82,146 | 53,496 | 135,642 | 32,013 | 64,059 | 96,072 | 93,321 | 55,606 | - | 32,558 | 76,450 | 109,000 | 100,850 | 71,504 | - | - | - | - | - | - |
| Operating Margin | 5.18% | - | 10.59% | 6.44% | - | 1.82% | 11.06% | 7.07% | 11.76% | 8.09% | 9.98% | 5.75% | 9.2% | 7.67% | 12.12% | 7.45% | - | 5.28% | 10.25% | 7.96% | 12.42% | 9.26% | - | - | - | - | - | - |
| Earnings before Tax (EBT) | 41,135 | - | 103,958 | 35,063 | - | 7,530 | 71,151 | 78,681 | 77,271 | 50,040 | 127,311 | 28,601 | 63,902 | 92,503 | 92,852 | 56,516 | - | 31,480 | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 30,192 | - | 79,315 | 28,924 | - | 4,346 | 52,661 | 57,007 | 57,461 | 37,087 | 94,548 | 19,969 | 45,829 | 65,798 | 67,236 | 31,039 | - | 23,830 | 49,898 | - | 74,480 | 57,367 | - | - | - | - | - | - |
| Net margin | 3.45% | - | 7.67% | 4.7% | - | 0.87% | 8.05% | 4.95% | 8.23% | 5.61% | 6.95% | 3.59% | 6.58% | 5.25% | 8.73% | 4.16% | - | 3.86% | 6.69% | - | 9.17% | 7.43% | - | - | - | - | - | - |
| EPS 2 | 65.91 | - | 156.5 | 57.08 | - | 8.580 | 103.9 | 112.5 | 113.4 | 73.19 | - | 39.41 | 90.45 | 129.9 | 132.7 | 61.26 | - | 47.03 | 100.8 | - | 142.7 | 110.5 | - | - | - | - | - | - |
| Dividend per Share 2 | 53.00 | 53.00 | 54.00 | 55.00 | 55.00 | - | - | 55.00 | - | - | 58.00 | - | - | 56.00 | - | 65.00 | 65.00 | - | 66.00 | 67.00 | - | 66.00 | 72.50 | - | 90.00 | 74.50 | 89.50 | 81.00 |
| Announcement Date | 8/5/20 | 2/12/21 | 8/10/21 | 2/15/22 | 2/15/22 | 5/16/22 | 8/9/22 | 8/9/22 | 11/10/22 | 2/14/23 | 2/14/23 | 5/12/23 | 8/9/23 | 8/9/23 | 11/10/23 | 2/13/24 | 2/13/24 | 5/14/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 894,725 | 1,775,164 | 1,543,460 | 1,459,871 | 1,350,853 | 1,238,903 | 1,117,453 | 982,501 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.845 x | 6.869 x | 4.452 x | 4.084 x | 3.437 x | 2.927 x | 2.506 x | 2.107 x |
| Free Cash Flow 1 | 129,086 | -967,513 | 257,009 | 196,805 | 198,257 | 222,377 | 247,520 | 264,839 |
| ROE (net income / shareholders' equity) | 11.9% | 6.7% | 9.4% | 7.9% | 7.3% | 8.03% | 8.16% | 8.45% |
| ROA (Net income/ Total Assets) | 6.35% | 3.31% | 3.42% | 4.39% | 4.78% | 4.27% | 4.42% | 4.67% |
| Assets 1 | 2,240,585 | 2,805,589 | 4,493,560 | 3,449,881 | 3,431,176 | 4,756,769 | 4,915,352 | 4,959,744 |
| Book Value Per Share 2 | 2,721 | 2,992 | 3,467 | 4,067 | 4,856 | 5,146 | 5,316 | 5,582 |
| Cash Flow per Share 2 | 557.0 | 458.0 | 569.0 | 576.0 | 616.0 | 553.0 | 602.0 | 649.0 |
| Capex 1 | 124,383 | 116,576 | 80,803 | 83,049 | 149,290 | 147,520 | 117,575 | 120,450 |
| Capex / Sales | 5.95% | 5.75% | 3.61% | 3.31% | 5.39% | 5% | 3.9% | 3.91% |
| Announcement Date | 2/13/20 | 2/12/21 | 2/15/22 | 2/14/23 | 2/13/24 | - | - | - |
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
BUY
Number of Analysts
11
Last Close Price
5,591
JPY
Average target price
6,976
JPY
Spread / Average Target
+24.77%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +7.00% | 17.54B | |
| -6.54% | 119B | |
| -2.09% | 54.46B | |
| +7.11% | 47.22B | |
| -16.53% | 31.77B | |
| -3.46% | 22.46B | |
| +0.12% | 16.96B | |
| -35.23% | 15.89B | |
| -6.58% | 11.13B | |
| -21.93% | 10.9B |
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