Financials Kumagai Gumi Co.,Ltd. Deutsche Boerse AG

Equities

KUG1

JP3266800006

Construction & Engineering

Market Closed - Deutsche Boerse AG Other stock markets 09:29:02 2024-07-12 am EDT			5-day change	1st Jan Change
21 ^EUR	+0.96%		+1.94%	-7.89%

Jun. 28	Kumagai Gumi Co., Ltd. Announces Voting Results	CI
May. 22	Kumagai Gumi's Attributable Profit, Net Sales Rise in Fiscal 2023	MT

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	116,533	140,029	122,508	115,990	179,569	156,551	-	-
Enterprise Value (EV) ¹	53,636	80,583	67,256	97,209	161,875	113,855	109,015	103,628
P/E ratio	5.99 x	7.81 x	7.92 x	14.8 x	21.7 x	13 x	9.71 x	8.46 x
Yield	4.8%	3.99%	4.43%	4.89%	3.11%	3.85%	4.3%	4.93%
Capitalization / Revenue	0.27 x	0.31 x	0.29 x	0.29 x	0.41 x	0.34 x	0.32 x	0.32 x
EV / Revenue	0.12 x	0.18 x	0.16 x	0.24 x	0.37 x	0.24 x	0.23 x	0.21 x
EV / EBITDA	1.95 x	2.68 x	2.72 x	7.26 x	11 x	5.71 x	4.48 x	3.71 x
EV / FCF	-27.5 x	18 x	13.8 x	-3.56 x	26.1 x	13.9 x	11.7 x	8.86 x
FCF Yield	-3.64%	5.56%	7.23%	-28.1%	3.83%	7.2%	8.53%	11.3%
Price to Book	0.79 x	0.85 x	0.72 x	0.68 x	1 x	0.85 x	0.81 x	0.77 x
Nbr of stocks (in thousands)	46,595	46,599	45,206	43,622	43,011	43,009	-	-
Reference price ²	2,501	3,005	2,710	2,659	4,175	3,640	3,640	3,640
Announcement Date	5/13/20	5/13/21	5/13/22	5/12/23	5/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	436,151	450,232	425,216	403,502	443,193	465,980	482,740	495,700
EBITDA ¹	27,517	30,098	24,771	13,381	14,711	19,933	24,333	27,967
EBIT ¹	25,440	28,069	22,743	11,483	12,649	17,280	22,920	26,360
Operating Margin	5.83%	6.23%	5.35%	2.85%	2.85%	3.71%	4.75%	5.32%
Earnings before Tax (EBT) ¹	27,070	26,093	22,919	12,030	12,595	18,967	23,567	27,333
Net income ¹	19,447	17,925	15,850	7,973	8,316	12,000	16,060	18,340
Net margin	4.46%	3.98%	3.73%	1.98%	1.88%	2.58%	3.33%	3.7%
EPS ²	417.4	384.7	342.1	179.6	192.4	279.1	374.9	430.2
Free Cash Flow ¹	-1,953	4,478	4,863	-27,284	6,193	8,200	9,300	11,700
FCF margin	-0.45%	0.99%	1.14%	-6.76%	1.4%	1.76%	1.93%	2.36%
FCF Conversion (EBITDA)	-	14.88%	19.63%	-	42.1%	41.14%	38.22%	41.84%
FCF Conversion (Net income)	-	24.98%	30.68%	-	74.47%	68.33%	57.91%	63.79%
Dividend per Share ²	120.0	120.0	120.0	130.0	130.0	140.0	156.6	179.4
Announcement Date	5/13/20	5/13/21	5/13/22	5/12/23	5/14/24	-	-	-

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	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2	2026 S1	2026 S2	2027 S1
Net sales ¹	206,884	243,348	189,555	111,018	124,643	235,661	91,669	94,175	185,844	99,733	117,925	217,658	90,891	105,366	196,257	111,497	135,439	-	106,150	114,400	-	119,150	128,400	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	11,841	16,228	8,708	6,536	7,679	14,035	505	2,325	2,830	2,923	5,730	8,653	410	3,358	3,768	5,485	3,396	-	2,400	4,250	-	5,350	7,000	-	-	-	-
Operating Margin	5.72%	6.67%	4.59%	5.89%	6.16%	5.96%	0.55%	2.47%	1.52%	2.93%	4.86%	3.98%	0.45%	3.19%	1.92%	4.92%	2.51%	-	2.26%	3.72%	-	4.49%	5.45%	-	-	-	-
Earnings before Tax (EBT) ¹	11,538	14,555	9,052	6,686	7,181	13,867	886	2,579	3,465	2,719	5,846	8,565	382	3,444	3,826	5,233	3,536	-	2,350	4,400	-	5,350	7,450	-	-	-	-
Net income ¹	7,728	10,197	6,259	4,522	5,069	9,591	575	1,666	2,241	1,747	3,985	5,732	68	2,363	2,431	3,488	2,397	-	1,450	2,950	-	3,600	5,200	-	-	-	-
Net margin	3.74%	4.19%	3.3%	4.07%	4.07%	4.07%	0.63%	1.77%	1.21%	1.75%	3.38%	2.63%	0.07%	2.24%	1.24%	3.13%	1.77%	-	1.37%	2.58%	-	3.02%	4.05%	-	-	-	-
EPS	165.9	-	134.3	97.24	-	-	12.79	-	50.01	39.43	-	-	1.570	-	55.98	80.70	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	120.0	-	-	-	-	-	-	-	-	-	-	-	130.0	-	-	-	-	-	130.0	-	135.0	-
Announcement Date	11/10/20	5/13/21	11/11/21	2/9/22	5/13/22	5/13/22	8/9/22	11/10/22	11/10/22	2/10/23	5/12/23	5/12/23	8/9/23	11/13/23	11/13/23	2/13/24	5/14/24	5/14/24	-	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	62,897	59,446	55,252	18,781	17,694	42,696	47,536	52,923
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-1,953	4,478	4,863	-27,284	6,193	8,200	9,300	11,700
ROE (net income / shareholders' equity)	13.7%	11.5%	9.5%	4.7%	4.8%	6.87%	8.48%	9.23%
ROA (Net income/ Total Assets)	7.06%	7.53%	6.32%	3.27%	3.09%	3.4%	4.1%	4.53%
Assets ¹	275,455	238,079	250,677	243,616	269,084	352,941	391,707	404,559
Book Value Per Share ²	3,177	3,516	3,751	3,894	4,186	4,280	4,493	4,741
Cash Flow per Share ²	463.0	429.0	178.0	222.0	393.0	5.000	112.0	160.0
Capex ¹	2,199	2,094	3,158	4,144	2,252	4,000	5,500	5,500
Capex / Sales	0.5%	0.47%	0.74%	1.03%	0.51%	0.86%	1.14%	1.11%
Announcement Date	5/13/20	5/13/21	5/13/22	5/12/23	5/14/24	-	-	-

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 Kumagai Gumi Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,640 JPY

Average target price

4,320 JPY

Spread / Average Target

+18.68%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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