Financials Kanto Denka Kogyo Co., Ltd.

Equities

4047

JP3232600001

Commodity Chemicals

Delayed Japan Exchange Other stock markets 02:00:00 2024-07-12 am EDT			5-day change	1st Jan Change
971 ^JPY	-1.02%		-2.02%	+13.17%

May. 16	Kanto Denka Kogyo Abolishes Takeover Defense Measures	MT
May. 15	Kanto Denka Kogyo Co., Ltd. Provides Dividend Guidance for Second Quarter and Fiscal Year Ended March 31, 2025	CI

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	44,581	51,416	62,103	59,234	57,912	56,361	-	-
Enterprise Value (EV) ¹	49,558	54,697	66,285	74,670	74,183	56,361	56,361	56,361
P/E ratio	8.88 x	14.3 x	8 x	6.31 x	-12.6 x	15.2 x	8.05 x	7.05 x
Yield	1.81%	1.56%	2.04%	3.2%	1.39%	1.63%	1.63%	1.63%
Capitalization / Revenue	0.83 x	0.99 x	1 x	0.75 x	0.89 x	0.82 x	0.7 x	0.66 x
EV / Revenue	0.83 x	0.99 x	1 x	0.75 x	0.89 x	0.82 x	0.7 x	0.66 x
EV / EBITDA	-	-	3,480,303 x	2,869,308 x	-	-	-	-
EV / FCF	-40.1 x	14.5 x	1,109 x	-6.34 x	-21.7 x	19.5 x	26.8 x	10.7 x
FCF Yield	-2.49%	6.9%	0.09%	-15.8%	-4.61%	5.13%	3.73%	9.38%
Price to Book	0.97 x	1.01 x	1.07 x	0.88 x	0.9 x	-	-	-
Nbr of stocks (in thousands)	57,524	57,448	57,449	57,453	57,453	57,453	-	-
Reference price ²	775.0	895.0	1,081	1,031	1,008	981.0	981.0	981.0
Announcement Date	5/15/20	5/14/21	5/13/22	5/15/23	5/15/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	53,679	51,927	62,286	78,675	64,768	69,000	80,000	85,000
EBITDA	-	-	17,844	20,644	-	-	-	-
EBIT ¹	7,729	5,668	11,164	12,947	-1,968	6,000	11,000	12,500
Operating Margin	14.4%	10.92%	17.92%	16.46%	-3.04%	8.7%	13.75%	14.71%
Earnings before Tax (EBT) ¹	7,444	5,178	11,160	13,425	-5,317	6,000	11,000	12,500
Net income ¹	5,021	3,605	7,762	9,382	-4,610	3,700	7,000	8,000
Net margin	9.35%	6.94%	12.46%	11.93%	-7.12%	5.36%	8.75%	9.41%
EPS ²	87.29	62.73	135.1	163.3	-80.25	64.40	121.8	139.2
Free Cash Flow ¹	-1,111	3,549	56	-9,336	-2,667	2,890	2,100	5,285
FCF margin	-2.07%	6.83%	0.09%	-11.87%	-4.12%	4.19%	2.62%	6.22%
FCF Conversion (EBITDA)	-	-	0.31%	-	-	-	-	-
FCF Conversion (Net income)	-	98.45%	0.72%	-	-	78.11%	30%	66.06%
Dividend per Share ²	14.00	14.00	22.00	33.00	14.00	16.00	16.00	16.00
Announcement Date	5/15/20	5/14/21	5/13/22	5/15/23	5/15/24	-	-	-

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	26,636	24,398	27,529	28,202	16,562	17,522	34,084	18,375	18,932	37,307	19,900	21,468	41,368	16,301	18,539	34,840	14,211	15,717	29,928	15,600	15,700	31,300	18,800	18,900	37,700
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	3,698	1,847	3,821	4,418	3,595	3,151	6,746	3,625	2,956	6,581	3,314	3,052	6,366	-1,411	983	-428	-183	-1,357	-1,540	620	1,080	1,700	2,100	2,200	4,300
Operating Margin	13.88%	7.57%	13.88%	15.67%	21.71%	17.98%	19.79%	19.73%	15.61%	17.64%	16.65%	14.22%	15.39%	-8.66%	5.3%	-1.23%	-1.29%	-8.63%	-5.15%	3.97%	6.88%	5.43%	11.17%	11.64%	11.41%
Earnings before Tax (EBT) ¹	3,554	1,323	-	4,362	3,741	3,057	6,798	4,172	3,027	7,199	3,537	2,689	6,226	-436	904	468	-57	-5,728	-5,785	620	1,080	1,700	2,100	2,200	4,300
Net income ¹	2,484	821	2,784	3,033	2,583	2,146	4,729	2,931	2,261	5,192	2,668	1,522	4,190	-310	567	257	-31	-4,836	-4,867	400	700	1,100	1,270	1,330	2,600
Net margin	9.33%	3.37%	10.11%	10.75%	15.6%	12.25%	13.87%	15.95%	11.94%	13.92%	13.41%	7.09%	10.13%	-1.9%	3.06%	0.74%	-0.22%	-30.77%	-16.26%	2.56%	4.46%	3.51%	6.76%	7.04%	6.9%
EPS	-	14.29	-	52.80	44.96	-	-	51.03	-	90.38	46.44	-	-	-5.400	-	4.480	-0.5400	-	-	-	-	-	-	-	-
Dividend per Share	-	7.000	-	8.000	-	-	-	-	-	10.00	-	-	-	-	-	7.000	-	-	-	-	-	-	-	-	-
Announcement Date	5/15/20	11/13/20	5/14/21	11/12/21	2/10/22	5/13/22	5/13/22	8/10/22	11/11/22	11/11/22	2/10/23	5/15/23	5/15/23	8/10/23	11/10/23	11/10/23	2/9/24	5/15/24	5/15/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	4,977	3,281	4,182	15,436	16,271	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.2344 x	0.7477 x	-	-	-	-
Free Cash Flow ¹	-1,111	3,549	56	-9,336	-2,667	2,890	2,100	5,285
ROE (net income / shareholders' equity)	11.3%	7.4%	14.2%	14.9%	-7%	-	-	-
ROA (Net income/ Total Assets)	9.47%	6.33%	11%	11.4%	-1.02%	-	-	-
Assets ¹	53,048	56,957	70,421	82,532	452,626	-	-	-
Book Value Per Share	800.0	887.0	1,014	1,175	1,114	-	-	-
Cash Flow per Share	182.0	180.0	251.0	297.0	67.60	-	-	-
Capex ¹	10,213	8,435	12,284	16,624	13,875	8,000	9,000	10,000
Capex / Sales	19.03%	16.24%	19.72%	21.13%	21.42%	11.59%	11.25%	11.76%
Announcement Date	5/15/20	5/14/21	5/13/22	5/15/23	5/15/24	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Kanto Denka Kogyo Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

981 JPY

Average target price

1,800 JPY

Spread / Average Target

+83.49%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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