Financials Chugin Financial Group,Inc.

Equities

5832

JP3520700000

Banks

End-of-day quote Japan Exchange Other stock markets 06:00:00 2024-07-11 pm EDT			5-day change	1st Jan Change
1,644 ^JPY	+0.09%		0.00%	+64.15%

Jul. 02	Tranche Update on Chugin Financial Group,Inc.'s Equity Buyback Plan announced on May 10, 2024.	CI
May. 10	Chugin Financial Group,Inc. announces an Equity Buyback for 4,000,000 shares, representing 2.16% for ¥5,000 million.	CI

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	181,102	175,835	162,532	163,310	239,189	297,435	-	-
Enterprise Value (EV) ¹	181,102	175,835	162,532	163,310	239,189	297,435	297,435	297,435
P/E ratio	15.2 x	12.2 x	8.89 x	8.01 x	11.2 x	12.7 x	10.4 x	8.83 x
Yield	2.28%	2.46%	3.2%	1.8%	3.58%	2.04%	2.4%	3.35%
Capitalization / Revenue	1.42 x	1.5 x	1.26 x	0.89 x	1.3 x	1.58 x	1.45 x	-
EV / Revenue	1.42 x	1.5 x	1.26 x	0.89 x	1.3 x	1.58 x	1.45 x	-
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.35 x	0.31 x	0.29 x	0.31 x	0.41 x	0.53 x	0.51 x	0.5 x
Nbr of stocks (in thousands)	188,060	188,059	185,751	183,700	181,962	180,921	-	-
Reference price ²	963.0	935.0	875.0	889.0	1,314	1,644	1,644	1,644
Announcement Date	5/14/20	5/14/21	5/13/22	5/12/23	5/10/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	127,318	116,976	128,565	183,586	184,661	187,800	205,600	-
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	17,463	21,252	-	63,444	31,191	31,400	39,700	51,100
Operating Margin	13.72%	18.17%	-	34.56%	16.89%	16.72%	19.31%	-
Earnings before Tax (EBT) ¹	16,824	20,910	25,409	29,503	30,899	34,800	42,300	-
Net income ¹	11,916	14,418	18,374	20,477	21,389	23,550	28,350	33,500
Net margin	9.36%	12.33%	14.29%	11.15%	11.58%	12.54%	13.79%	-
EPS ²	63.35	76.66	98.43	111.0	117.1	129.8	158.0	186.1
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	22.00	23.00	28.00	16.00	47.00	33.50	39.50	55.00
Announcement Date	5/14/20	5/14/21	5/13/22	5/12/23	5/10/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2021 S1	2022 S1	2022 Q3	2023 Q1	2023 S1	2024 Q1	2024 S1	2024 Q3
Net sales ¹	58,173	60,594	32,131	53,787	91,459	43,854	88,355	47,749
EBITDA	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	11,825	14,703	9,879	12,091	19,887	10,217	14,941	11,254
Net income ¹	8,226	10,179	7,653	8,340	13,948	7,197	10,436	7,937
Net margin	14.14%	16.8%	23.82%	15.51%	15.25%	16.41%	11.81%	16.62%
EPS ²	43.74	54.35	41.02	44.98	75.36	39.17	56.89	43.53
Dividend per Share	11.00	11.50	-	-	14.00	-	15.00	-
Announcement Date	11/13/20	11/12/21	2/4/22	7/28/22	11/11/22	7/28/23	11/10/23	2/2/24

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	2.2%	2.6%	3.2%	3.7%	3.8%	4.3%	5%	-
ROA (Net income/ Total Assets)	0.21%	0.25%	0.27%	0.18%	0.3%	0.4%	0.4%	-
Assets ¹	5,595,680	5,868,610	6,893,266	11,189,617	7,067,706	5,887,500	7,087,500	-
Book Value Per Share ²	2,717	2,988	2,973	2,872	3,192	3,089	3,221	3,311
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	5/14/20	5/14/21	5/13/22	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

Ratings for Chugin Financial Group,Inc.

Trading Rating

Investor Rating

ESG Refinitiv

D-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,644 JPY

Average target price

1,635 JPY

Spread / Average Target

-0.55%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Banks

	1st Jan change	Capi.
CHUGIN FINANCIAL GROUP,INC.	+64.15%	1.88B
BANK OF AMERICA CORPORATION	+24.41%	325B
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	+16.49%	276B
WELLS FARGO & COMPANY	+17.29%	192B
CHINA CONSTRUCTION BANK CORPORATION	+20.86%	184B
BANK OF CHINA LIMITED	+18.79%	177B
HSBC HOLDINGS PLC	+4.45%	159B
ROYAL BANK OF CANADA	+13.07%	157B
COMMONWEALTH BANK OF AUSTRALIA	+18.91%	150B
HDFC BANK LIMITED	-5.10%	148B

Other Banks