Financials Izumi Co., Ltd.

Equities

8273

JP3138400001

Department Stores

Delayed Japan Exchange Other stock markets 01:06:39 2024-07-16 am EDT			5-day change	1st Jan Change
3,417 ^JPY	-0.52%		+2.15%	-5.66%

Jul. 02	Izumi's Attributable Profit Falls Over 11% in Fiscal 2024	MT
Jun. 27	Izumi Co., Ltd. Announces Dividend for the Fiscal Year Ended February 29, 2024, Payable on May 30, 2024; Provides Dividend Guidance for the Second Quarter-End of the Fiscal Year Ending February 28, 2025	CI

Valuation

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	362,593	212,323	281,972	229,801	212,773	245,665	-	-
Enterprise Value (EV) ¹	517,390	332,262	366,074	317,541	278,992	247,954	245,665	245,665
P/E ratio	15.4 x	10.6 x	12.2 x	9.91 x	9.17 x	12.1 x	11.8 x	10.8 x
Yield	1.58%	2.7%	2.11%	2.67%	2.92%	2.57%	2.62%	2.79%
Capitalization / Revenue	0.5 x	0.29 x	0.41 x	0.34 x	0.46 x	0.53 x	0.45 x	0.45 x
EV / Revenue	0.5 x	0.29 x	0.41 x	0.34 x	0.46 x	0.53 x	0.45 x	0.45 x
EV / EBITDA	7.09 x	4.42 x	5.46 x	4.52 x	4.29 x	5.16 x	4.92 x	4.7 x
EV / FCF	24.9 x	5.17 x	8.2 x	53.1 x	7.53 x	43.1 x	-6.24 x	17.7 x
FCF Yield	4.01%	19.4%	12.2%	1.88%	13.3%	2.32%	-16%	5.64%
Price to Book	1.81 x	0.99 x	1.21 x	0.92 x	0.8 x	0.88 x	0.83 x	0.79 x
Nbr of stocks (in thousands)	71,659	71,658	71,657	71,478	71,496	71,518	-	-
Reference price ²	5,060	2,963	3,935	3,215	2,976	3,435	3,435	3,435
Announcement Date	4/9/19	4/13/20	4/13/21	4/12/22	4/11/23	6/27/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	732,136	744,349	679,778	676,800	460,140	471,166	548,800	541,533
EBITDA ¹	51,135	48,052	51,653	50,855	49,641	48,066	49,965	52,305
EBIT ¹	35,273	31,888	35,781	34,717	33,644	31,425	32,867	34,700
Operating Margin	4.82%	4.28%	5.26%	5.13%	7.31%	6.67%	5.99%	6.41%
Earnings before Tax (EBT) ¹	33,495	29,845	34,852	34,280	34,265	29,488	30,700	33,567
Net income ¹	23,488	19,953	23,053	23,204	23,188	20,485	20,900	22,700
Net margin	3.21%	2.68%	3.39%	3.43%	5.04%	4.35%	3.81%	4.19%
EPS ²	327.8	278.4	321.7	324.4	324.4	286.5	292.2	317.4
Free Cash Flow ¹	14,541	41,085	34,399	4,331	28,268	5,700	-39,400	13,850
FCF margin	1.99%	5.52%	5.06%	0.64%	6.14%	1.19%	-7.18%	2.56%
FCF Conversion (EBITDA)	28.44%	85.5%	66.6%	8.52%	56.94%	11.59%	-	26.48%
FCF Conversion (Net income)	61.91%	205.91%	149.22%	18.66%	121.91%	26.61%	-	61.01%
Dividend per Share ²	80.00	80.00	83.00	86.00	87.00	89.00	90.00	95.67
Announcement Date	4/9/19	4/13/20	4/13/21	4/12/22	4/11/23	6/27/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: February	2020 S1	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4
Net sales ¹	369,814	326,353	166,890	331,844	164,249	180,707	110,112	113,949	224,061	-	126,218	114,314	119,006	233,320	111,499	126,347	115,900	131,600	240,786	143,300	158,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	14,163	16,457	8,138	15,970	7,898	10,849	7,868	7,826	15,694	-	11,446	8,150	7,368	15,518	6,318	9,589	7,000	7,500	15,800	7,000	11,000
Operating Margin	3.83%	5.04%	4.88%	4.81%	4.81%	6%	7.15%	6.87%	7%	-	9.07%	7.13%	6.19%	6.65%	5.67%	7.59%	6.04%	5.7%	6.56%	4.88%	6.96%
Earnings before Tax (EBT)	13,738	16,397	-	15,983	8,157	-	7,983	-	15,964	6,667	-	8,317	-	15,671	6,077	-	-	-	-	-	-
Net income ¹	8,966	10,680	5,638	10,719	5,652	6,833	5,295	5,339	10,634	-	7,924	5,529	4,931	10,460	4,065	5,960	4,500	4,800	-	4,300	7,300
Net margin	2.42%	3.27%	3.38%	3.23%	3.44%	3.78%	4.81%	4.69%	4.75%	-	6.28%	4.84%	4.14%	4.48%	3.65%	4.72%	3.88%	3.65%	-	3%	4.62%
EPS	125.1	149.0	-	149.8	79.07	-	74.09	-	148.8	64.75	-	77.35	-	146.3	56.84	-	-	-	-	-	-
Dividend per Share	40.00	40.00	-	43.00	-	-	-	-	43.00	-	-	-	-	44.00	-	-	-	-	-	-	-
Announcement Date	10/8/19	10/13/20	10/12/21	10/12/21	1/11/22	4/12/22	7/12/22	10/11/22	10/11/22	1/10/23	4/11/23	7/11/23	10/10/23	10/10/23	1/9/24	6/27/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: February	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	154,797	119,939	84,102	87,740	66,219	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.027 x	2.496 x	1.628 x	1.725 x	1.334 x	-	-	-
Free Cash Flow ¹	14,541	41,085	34,399	4,331	28,268	5,700	-39,400	13,850
ROE (net income / shareholders' equity)	12.3%	9.6%	10.3%	9.6%	9%	7.5%	7.3%	7.65%
ROA (Net income/ Total Assets)	7.27%	6.56%	4.71%	7.24%	7.26%	6.68%	6.2%	6.85%
Assets ¹	322,899	304,258	489,899	320,510	319,324	306,765	337,097	331,387
Book Value Per Share ²	2,790	2,991	3,245	3,479	3,707	3,923	4,125	4,356
Cash Flow per Share	549.0	504.0	543.0	550.0	548.0	519.0	-	-
Capex ¹	18,876	16,596	13,921	16,336	12,148	28,441	23,000	30,750
Capex / Sales	2.58%	2.23%	2.05%	2.41%	2.64%	6.04%	4.19%	5.68%
Announcement Date	4/9/19	4/13/20	4/13/21	4/12/22	4/11/23	6/27/24	-	-

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 Izumi Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,435 JPY

Average target price

4,100 JPY

Spread / Average Target

+19.36%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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