Financials Kaga Electronics Co.,Ltd.

Equities

8154

JP3206200002

Electronic Equipment & Parts

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-05 am EDT			5-day change	1st Jan Change
5,810 ^JPY	-1.19%		+2.29%	-5.22%

Jun. 27	Kaga Electronics Disposes 62.1 Million Yen in Treasury Shares	MT
May. 23	Kaga Electronics Co.,Ltd. Provides Dividend Guidance for the First Half and Year End for the Fiscal Year Ending March 31, 2025	CI

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	46,715	68,132	85,439	131,569	167,589	154,453	-	-
Enterprise Value (EV) ¹	30,450	58,160	93,118	118,959	131,926	154,453	154,453	154,453
P/E ratio	7.98 x	5.97 x	5.65 x	5.7 x	8.24 x	8.58 x	7.35 x	7.02 x
Yield	4.11%	3.23%	3.69%	4.39%	3.45%	3.74%	3.74%	3.74%
Capitalization / Revenue	0.11 x	0.16 x	0.17 x	0.22 x	0.31 x	0.28 x	0.26 x	0.25 x
EV / Revenue	0.11 x	0.16 x	0.17 x	0.22 x	0.31 x	0.28 x	0.26 x	0.25 x
EV / EBITDA	3.66 x	4.66 x	3.47 x	3.63 x	5.57 x	5.15 x	4.54 x	4.29 x
EV / FCF	2.49 x	10.6 x	-	4.98 x	7.09 x	9.64 x	11.8 x	9.03 x
FCF Yield	40.2%	9.43%	-	20.1%	14.1%	10.4%	8.45%	11.1%
Price to Book	0.6 x	0.75 x	0.81 x	1.02 x	1.11 x	0.95 x	0.87 x	0.79 x
Nbr of stocks (in thousands)	27,447	27,473	26,248	26,261	26,268	26,268	-	-
Reference price ²	1,702	2,480	3,255	5,010	6,380	5,880	5,880	5,880
Announcement Date	5/21/20	5/13/21	5/12/22	5/11/23	5/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	443,615	422,365	495,827	608,064	542,697	555,000	600,000	630,000
EBITDA ¹	12,768	14,634	24,653	36,249	30,097	30,000	34,000	36,000
EBIT ¹	10,014	11,467	20,915	32,249	25,845	26,000	30,000	32,000
Operating Margin	2.26%	2.71%	4.22%	5.3%	4.76%	4.68%	5%	5.08%
Earnings before Tax (EBT)	9,286	14,472	21,348	32,460	28,099	-	-	-
Net income ¹	5,852	11,399	15,401	23,070	20,345	18,000	21,000	22,000
Net margin	1.32%	2.7%	3.11%	3.79%	3.75%	3.24%	3.5%	3.49%
EPS ²	213.2	415.1	576.5	878.6	774.6	685.3	799.5	837.5
Free Cash Flow ¹	18,775	6,425	-	26,410	23,632	16,025	13,046	17,098
FCF margin	4.23%	1.52%	-	4.34%	4.35%	2.89%	2.17%	2.71%
FCF Conversion (EBITDA)	147.05%	43.9%	-	72.86%	78.52%	53.42%	38.37%	47.49%
FCF Conversion (Net income)	320.83%	56.36%	-	114.48%	116.16%	89.03%	62.12%	77.72%
Dividend per Share ²	70.00	80.00	120.0	220.0	220.0	220.0	220.0	220.0
Announcement Date	5/21/20	5/13/21	5/12/22	5/11/23	5/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	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	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2
Net sales ¹	188,859	233,506	223,009	129,675	143,143	272,818	149,302	149,458	298,760	153,460	155,844	309,304	137,694	137,350	275,044	131,414	134,000	136,000	270,000	138,000	147,000	285,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	4,434	7,033	8,300	6,358	6,257	12,615	9,820	8,541	18,361	7,645	6,243	13,888	6,994	6,882	13,876	6,615	6,000	6,000	12,000	6,500	7,500	14,000
Operating Margin	2.35%	3.01%	3.72%	4.9%	4.37%	4.62%	6.58%	5.71%	6.15%	4.98%	4.01%	4.49%	5.08%	5.01%	5.05%	5.03%	4.48%	4.41%	4.44%	4.71%	5.1%	4.91%
Earnings before Tax (EBT)	12,126	-	8,229	6,477	-	-	9,982	-	18,951	8,183	-	-	7,912	-	15,795	6,590	-	-	-	-	-	-
Net income	10,772	-	5,624	4,790	-	-	6,984	-	13,412	5,641	-	-	5,767	-	11,404	4,588	-	-	-	-	-	-
Net margin	5.7%	-	2.52%	3.69%	-	-	4.68%	-	4.49%	3.68%	-	-	4.19%	-	4.15%	3.49%	-	-	-	-	-	-
EPS	392.3	-	207.4	180.4	-	-	266.1	-	510.9	214.8	-	-	219.6	-	434.2	174.6	-	-	-	-	-	-
Dividend per Share	30.00	-	45.00	-	-	-	-	-	100.0	-	-	-	-	-	110.0	-	-	-	-	-	-	-
Announcement Date	11/5/20	5/13/21	11/4/21	2/3/22	5/12/22	5/12/22	8/4/22	11/8/22	11/8/22	2/7/23	5/11/23	5/11/23	8/3/23	11/8/23	11/8/23	2/7/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	7,679	-	-	-	-	-
Net Cash position	16,265	9,972	-	12,610	35,663	-	-	-
Leverage (Debt/EBITDA)	-	-	0.3115 x	-	-	-	-	-
Free Cash Flow ¹	18,775	6,425	-	26,410	23,632	16,025	13,046	17,098
ROE (net income / shareholders' equity)	7.6%	13.5%	15.7%	19.6%	14.5%	11%	-	-
ROA (Net income/ Total Assets)	4.81%	5.06%	8.43%	11.7%	9.07%	-	-	-
Assets ¹	121,635	225,446	182,730	196,727	224,397	-	-	-
Book Value Per Share ²	2,851	3,311	4,026	4,935	5,742	6,208	6,787	7,405
Cash Flow per Share	314.0	530.0	716.0	1,031	936.0	-	-	-
Capex ¹	3,631	2,514	4,654	4,159	5,753	4,000	4,000	4,000
Capex / Sales	0.82%	0.6%	0.94%	0.68%	1.06%	0.72%	0.67%	0.63%
Announcement Date	5/21/20	5/13/21	5/12/22	5/11/23	5/9/24	-	-	-

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 Kaga Electronics Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

5,880 JPY

Average target price

7,000 JPY

Spread / Average Target

+19.05%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
KAGA ELECTRONICS CO.,LTD.	-5.22%	958M
HON HAI PRECISION INDUSTRY CO., LTD.	+105.26%	91.54B
AMPHENOL CORPORATION	+36.43%	81.43B
MURATA MANUFACTURING CO., LTD	+19.65%	42B
LUXSHARE PRECISION INDUSTRY CO., LTD.	+12.80%	38.49B
JABIL INC.	-13.45%	13.28B
LENS TECHNOLOGY CO., LTD.	+39.47%	12.51B
COHERENT CORP.	+70.72%	11.26B
EOPTOLINK TECHNOLOGY INC., LTD.	+127.76%	10.95B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-5.10%	10.79B

Electronic Component