Financials Enplas Corporation

Equities

6961

JP3169800004

Semiconductors

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-04 am EDT			5-day change	1st Jan Change
8,740 ^JPY	+2.94%		+8.57%	-27.17%

2021	Enplas Corporation Announces Dividend for the Year Ended March 31, 2021, Scheduled Date to Commence Dividend Payment June 2, 2021 and Provides Dividend Guidance for the Second Quarter and Fiscal Year 2022	CI
2021	Enplas Corporation's Equity Buyback announced on December 10, 2020, has expired.	CI

Valuation

Fiscal Period: März	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	26,138	36,503	23,936	43,098	64,890	74,955	-	-
Enterprise Value (EV) ¹	2,561	24,970	9,851	23,676	41,827	74,955	74,955	74,955
P/E ratio	53.8 x	52.2 x	9.46 x	9.32 x	18.8 x	14.7 x	12.5 x	10.4 x
Yield	1.42%	0.72%	1.75%	1.23%	0.82%	0.71%	0.77%	0.71%
Capitalization / Revenue	0.83 x	1.24 x	0.73 x	1.02 x	1.72 x	1.78 x	1.63 x	1.5 x
EV / Revenue	0.83 x	1.24 x	0.73 x	1.02 x	1.72 x	1.78 x	1.63 x	1.5 x
EV / EBITDA	5.68 x	8.04 x	4.01 x	3.9 x	9.23 x	7.5 x	6.14 x	5.55 x
EV / FCF	19.3 x	18.7 x	9.69 x	7.26 x	15.1 x	-97 x	-35.5 x	16.6 x
FCF Yield	5.17%	5.36%	10.3%	13.8%	6.63%	-1.03%	-2.81%	6.04%
Price to Book	0.53 x	0.97 x	0.58 x	0.93 x	1.25 x	1.32 x	1.19 x	1.08 x
Nbr of stocks (in thousands)	12,329	8,807	8,816	8,823	8,829	8,829	-	-
Reference price ²	2,120	4,145	2,715	4,885	7,350	8,490	8,490	8,490
Announcement Date	5/7/20	4/30/21	4/28/22	4/28/23	4/30/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	31,456	29,437	32,894	42,240	37,805	42,067	45,900	50,000
EBITDA ¹	4,598	4,542	5,965	11,063	7,030	10,000	12,200	13,500
EBIT ¹	2,163	2,120	3,600	8,820	4,645	7,350	8,667	10,000
Operating Margin	6.88%	7.2%	10.94%	20.88%	12.29%	17.47%	18.88%	20%
Earnings before Tax (EBT)	1,492	1,484	4,033	6,684	5,023	-	-	-
Net income ¹	489	893	2,528	4,621	3,443	5,270	6,200	7,200
Net margin	1.55%	3.03%	7.69%	10.94%	9.11%	12.53%	13.51%	14.4%
EPS ²	39.44	79.41	287.1	523.9	390.1	577.3	680.6	815.5
Free Cash Flow ¹	1,351	1,955	2,470	5,934	4,304	-773	-2,109	4,527
FCF margin	4.29%	6.64%	7.51%	14.05%	11.38%	-1.84%	-4.59%	9.05%
FCF Conversion (EBITDA)	29.38%	43.04%	41.41%	53.64%	61.22%	-	-	33.53%
FCF Conversion (Net income)	276.28%	218.92%	97.71%	128.41%	125.01%	-	-	62.88%
Dividend per Share ²	30.00	30.00	47.50	60.00	60.00	60.00	65.00	60.00
Announcement Date	5/7/20	4/30/21	4/28/22	4/28/23	4/30/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S2	2021 S1	2021 S2	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 Q3	2025 Q4	2025 S2
Net sales ¹	15,253	14,012	15,425	16,118	7,755	9,021	16,776	10,115	10,982	21,097	11,173	9,970	21,143	9,715	9,485	19,200	8,754	9,851	18,605	10,000	10,500	20,500	11,000	11,000	22,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	798	703	1,417	1,654	565	1,381	1,946	1,958	2,397	4,355	2,709	1,756	4,465	1,412	1,204	2,616	938	1,091	2,029	1,500	1,800	3,300	2,100	2,100	4,200
Operating Margin	5.23%	5.02%	9.19%	10.26%	7.29%	15.31%	11.6%	19.36%	21.83%	20.64%	24.25%	17.61%	21.12%	14.53%	12.69%	13.62%	10.72%	11.08%	10.91%	15%	17.14%	16.1%	19.09%	19.09%	19.09%
Earnings before Tax (EBT)	-	495	-	1,464	725	-	-	2,148	-	2,977	2,454	1,253	3,707	1,413	-	2,762	711	-	-	-	-	-	-	-	-
Net income	-	129	764	910	528	1,090	1,618	1,502	260	1,762	1,873	986	2,859	735	1,063	1,798	486	1,159	1,645	-	-	-	-	-	-
Net margin	-	0.92%	4.95%	5.65%	6.81%	12.08%	9.64%	14.85%	2.37%	8.35%	16.76%	9.89%	13.52%	7.57%	11.21%	9.36%	5.55%	11.77%	8.84%	-	-	-	-	-	-
EPS	-	10.61	68.80	103.4	59.98	123.7	183.7	170.4	29.40	199.8	212.4	111.7	324.1	83.42	120.4	203.8	54.97	131.4	186.3	-	-	-	-	-	-
Dividend per Share	-	15.00	15.00	22.50	-	25.00	25.00	-	30.00	30.00	-	30.00	30.00	-	30.00	30.00	-	-	-	-	-	-	-	-	-
Announcement Date	5/7/20	10/29/20	4/30/21	10/29/21	1/31/22	4/28/22	4/28/22	7/29/22	10/28/22	10/28/22	1/31/23	4/28/23	4/28/23	7/28/23	10/27/23	10/27/23	1/31/24	4/30/24	4/30/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	23,577	11,533	14,085	19,422	23,063	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	1,351	1,955	2,470	5,934	4,304	-773	-2,109	4,527
ROE (net income / shareholders' equity)	1%	2.1%	6.4%	10.6%	7%	9.5%	-	-
ROA (Net income/ Total Assets)	3.85%	3.81%	7.48%	17.3%	9.18%	-	-	-
Assets ¹	12,697	23,461	33,776	26,737	37,494	-	-	-
Book Value Per Share ²	4,002	4,265	4,647	5,276	5,870	6,421	7,131	7,887
Cash Flow per Share	235.0	290.0	550.0	778.0	660.0	-	-	-
Capex ¹	2,047	2,227	1,744	2,827	3,927	7,000	10,000	5,000
Capex / Sales	6.51%	7.57%	5.3%	6.69%	10.39%	16.64%	21.79%	10%
Announcement Date	5/7/20	4/30/21	4/28/22	4/28/23	4/30/24	-	-	-

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 Enplas Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

8,490 JPY

Average target price

9,000 JPY

Spread / Average Target

+6.01%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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