Financials Daiei Kankyo Co., Ltd.

Equities

9336

JP3480470008

Environmental Services & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-12 am EDT			5-day change	1st Jan Change
2,700 ^JPY	+1.28%		-0.48%	+8.30%

Jul. 01	Daiei Kankyo Acquires Urayasu Seiun and Aia to Expand Waste Management Capabilities	MT
Jul. 01	Tranche Update on Daiei Kankyo Co., Ltd.'s Equity Buyback Plan announced on September 20, 2023.	CI

Valuation

Fiscal Period: Marzo	2023	2024	2025	2026	2027
Capitalization ¹	174,912	265,596	266,964	-	-
Enterprise Value (EV) ¹	183,264	275,615	271,945	270,329	268,014
P/E ratio	15.6 x	19.6 x	18.4 x	17.1 x	17.2 x
Yield	1.94%	1.57%	1.61%	1.74%	1.74%
Capitalization / Revenue	2.59 x	3.64 x	3.36 x	3.18 x	3.08 x
EV / Revenue	2.71 x	3.77 x	3.42 x	3.22 x	3.09 x
EV / EBITDA	8.24 x	10.5 x	9.75 x	9.1 x	8.75 x
EV / FCF	46.2 x	37.4 x	32.4 x	40.9 x	37.8 x
FCF Yield	2.17%	2.67%	3.09%	2.44%	2.65%
Price to Book	2.23 x	3.03 x	2.75 x	2.49 x	2.24 x
Nbr of stocks (in thousands)	99,893	99,400	98,875	-	-
Reference price ²	1,751	2,672	2,700	2,700	2,700
Announcement Date	5/12/23	5/13/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Marzo	2022	2023	2024	2025	2026	2027
Net sales ¹	-	67,658	73,035	79,565	83,900	86,621
EBITDA ¹	-	22,248	26,295	27,902	29,692	30,618
EBIT ¹	-	16,623	19,714	21,976	23,629	23,709
Operating Margin	-	24.57%	26.99%	27.62%	28.16%	27.37%
Earnings before Tax (EBT) ¹	-	16,549	20,496	22,468	24,339	24,118
Net income ¹	8,870	10,494	13,591	14,602	15,671	15,636
Net margin	-	15.51%	18.61%	18.35%	18.68%	18.05%
EPS ²	97.67	112.0	136.4	147.0	157.7	157.3
Free Cash Flow ¹	-	3,970	7,363	8,390	6,604	7,097
FCF margin	-	5.87%	10.08%	10.54%	7.87%	8.19%
FCF Conversion (EBITDA)	-	17.84%	28%	30.07%	22.24%	23.18%
FCF Conversion (Net income)	-	37.83%	54.18%	57.46%	42.14%	45.39%
Dividend per Share ²	-	34.00	42.00	43.50	47.00	47.00
Announcement Date	11/9/22	5/12/23	5/13/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Marzo	2023 S1	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2
Net sales ¹	-	17,870	35,166	17,604	17,900	35,504	19,167	18,364	37,531	20,176	18,688	38,863	20,273	20,325	40,598
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-	9,476	4,513	4,936	9,449	5,676	4,589	10,265	4,966	5,166	10,132	5,578	5,815	10,972
Operating Margin	-	-	26.95%	25.64%	27.58%	26.61%	29.61%	24.99%	27.35%	24.61%	27.64%	26.07%	27.52%	28.61%	27.03%
Earnings before Tax (EBT) ¹	-	5,197	-	4,752	5,426	10,178	5,735	4,583	10,318	5,900	6,100	-	6,100	6,200	-
Net income ¹	-	3,287	-	3,014	3,547	6,561	3,754	3,276	7,030	3,900	3,900	-	3,900	4,000	-
Net margin	-	18.39%	-	17.12%	19.82%	18.48%	19.59%	17.84%	18.73%	19.33%	20.87%	-	19.24%	19.68%	-
EPS	-	-	-	30.18	-	65.71	37.69	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/9/22	5/12/23	5/12/23	8/9/23	11/9/23	11/9/23	2/9/24	5/13/24	5/13/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: Marzo	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	8,352	10,019	4,981	3,365	1,050
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.3754 x	0.381 x	0.1785 x	0.1133 x	0.0343 x
Free Cash Flow ¹	-	3,970	7,363	8,390	6,604	7,097
ROE (net income / shareholders' equity)	-	15.2%	16.4%	15.9%	15.6%	13.7%
ROA (Net income/ Total Assets)	-	6.52%	12.2%	9.87%	10.1%	8%
Assets ¹	-	160,948	111,034	147,993	154,651	195,450
Book Value Per Share ²	-	786.0	883.0	982.0	1,083	1,207
Cash Flow per Share	-	170.0	199.0	-	-	-
Capex ¹	-	15,610	14,311	13,167	14,667	15,000
Capex / Sales	-	23.07%	19.59%	16.55%	17.48%	17.32%
Announcement Date	11/9/22	5/12/23	5/13/24	-	-	-

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

Ratings for Daiei Kankyo Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,700 JPY

Average target price

3,067 JPY

Spread / Average Target

+13.58%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Environmental Services & Equipment

	1st Jan change	Capi.
DAIEI KANKYO CO., LTD.	+8.30%	1.69B
WASTE MANAGEMENT, INC.	+19.35%	85.78B
REPUBLIC SERVICES, INC.	+21.38%	63.07B
VERALTO CORPORATION	+20.06%	24.38B
CLEAN HARBORS, INC.	+30.12%	12.25B
TETRA TECH, INC.	+21.91%	10.89B
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S.A.	-5.49%	6.54B
KURITA WATER INDUSTRIES LTD.	+27.23%	5B
GEM CO., LTD.	+16.67%	4.49B
CECEP ENVIRONMENTAL PROTECTION CO., LTD.	-20.76%	2.51B

Other Environmental Services & Equipment