MITSUBISHI HEAVY INDUSTRIES, LTD. Financials Mitsubishi Heavy Industries, Ltd.
Equities
7011
JP3900000005
Consumer Goods Conglomerates
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,368 JPY | +2.93% |
|
+3.60% | +66.00% |
| May. 28 | Transcript : Mitsubishi Heavy Industries, Ltd. - Special Call | |
| May. 28 | Idemitsu Kosan, Eneos, Toyota Motor, Mitsubishi Heavy Industries to Jointly Study Carbon-Neutral Fuels For Vehicles | MT |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,543,282 | 917,961 | 1,159,302 | 1,349,470 | 1,637,734 | 4,597,707 | - | - |
| Enterprise Value (EV) 1 | 2,237,124 | 2,007,204 | 2,149,890 | 2,113,486 | 2,482,505 | 5,579,540 | 5,479,893 | 5,386,351 |
| P/E ratio | 15.2 x | 10.5 x | 28.5 x | 11.9 x | 12.6 x | 21.9 x | 18.2 x | 16.1 x |
| Yield | 2.83% | 5.49% | 2.17% | 2.49% | 2.67% | 1.38% | 1.71% | 1.85% |
| Capitalization / Revenue | 0.38 x | 0.23 x | 0.31 x | 0.35 x | 0.39 x | 1.05 x | 0.95 x | 0.89 x |
| EV / Revenue | 0.55 x | 0.5 x | 0.58 x | 0.55 x | 0.59 x | 1.2 x | 1.13 x | 1.05 x |
| EV / EBITDA | 5.8 x | 6.82 x | 7.4 x | 7.23 x | 7.5 x | 12.7 x | 10.5 x | 9.23 x |
| EV / FCF | 9.21 x | 9.73 x | -7.76 x | 7 x | 70.3 x | 32.7 x | 32.6 x | 28.4 x |
| FCF Yield | 10.9% | 10.3% | -12.9% | 14.3% | 1.42% | 3.06% | 3.07% | 3.52% |
| Price to Book | 1.08 x | 0.75 x | 0.85 x | 0.86 x | 0.94 x | 2.17 x | 2.07 x | 1.89 x |
| Nbr of stocks (in thousands) | 3,356,420 | 3,359,417 | 3,361,269 | 3,356,891 | 3,358,765 | 3,360,897 | - | - |
| Reference price 2 | 459.8 | 273.2 | 344.9 | 402.0 | 487.6 | 1,368 | 1,368 | 1,368 |
| Announcement Date | 5/9/19 | 5/11/20 | 5/10/21 | 5/12/22 | 5/10/23 | 5/8/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,078,344 | 4,041,376 | 3,699,946 | 3,860,283 | 4,202,797 | 4,657,147 | 4,836,322 | 5,139,700 |
| EBITDA 1 | 385,485 | 294,429 | 290,357 | 292,400 | 331,100 | 438,440 | 521,966 | 583,767 |
| EBIT 1 | 226,419 | 126,162 | 52,099 | 99,184 | 141,379 | 282,541 | 372,417 | 421,800 |
| Operating Margin | 5.55% | 3.12% | 1.41% | 2.57% | 3.36% | 6.07% | 7.7% | 8.21% |
| Earnings before Tax (EBT) 1 | 182,624 | -32,660 | 49,355 | 173,684 | 191,126 | 315,187 | 380,188 | 423,582 |
| Net income 1 | 101,354 | 87,123 | 40,639 | 113,541 | 130,451 | 222,023 | 253,243 | 288,309 |
| Net margin | 2.49% | 2.16% | 1.1% | 2.94% | 3.1% | 4.77% | 5.24% | 5.61% |
| EPS 2 | 30.20 | 25.94 | 12.09 | 33.82 | 38.84 | 66.07 | 75.33 | 85.23 |
| Free Cash Flow 1 | 243,000 | 206,273 | -277,197 | 301,869 | 35,313 | 170,700 | 168,269 | 189,355 |
| FCF margin | 5.96% | 5.1% | -7.49% | 7.82% | 0.84% | 3.67% | 3.48% | 3.68% |
| FCF Conversion (EBITDA) | 63.04% | 70.06% | - | 103.24% | 10.67% | 38.93% | 32.24% | 32.44% |
| FCF Conversion (Net income) | 239.75% | 236.76% | - | 265.87% | 27.07% | 76.88% | 66.45% | 65.68% |
| Dividend per Share 2 | 13.00 | 15.00 | 7.500 | 10.00 | 13.00 | 20.00 | 23.40 | 25.32 |
| Announcement Date | 5/9/19 | 5/11/20 | 5/10/21 | 5/12/22 | 5/10/23 | 5/8/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 Q2 | 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 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,877,663 | 2,163,713 | 1,658,625 | - | 812,032 | 1,663,747 | 981,628 | 1,214,908 | - | 871,332 | 1,003,935 | 1,875,267 | 1,062,779 | 1,264,751 | - | 983,980 | 1,085,292 | 2,069,272 | 1,191,394 | 1,396,480 | 1,042,750 | 1,138,250 | 1,204,250 | 1,451,750 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 75,109 | - | -15,094 | - | 4,743 | 26,211 | 29,872 | 43,101 | - | 255 | 32,151 | 32,406 | 43,172 | 65,801 | - | 36,447 | 45,734 | 82,181 | 90,676 | 90,916 | 55,000 | 100,000 | 100,000 | 115,000 |
| Operating Margin | 4% | - | -0.91% | - | 0.58% | 1.58% | 3.04% | 3.55% | - | 0.03% | 3.2% | 1.73% | 4.06% | 5.2% | - | 3.7% | 4.21% | 3.97% | 7.61% | 6.51% | 5.27% | 8.79% | 8.3% | 7.92% |
| Earnings before Tax (EBT) 1 | 60,860 | -93,520 | -72,849 | - | 5,450 | 26,534 | 61,034 | 86,116 | - | 35,560 | 55,831 | 91,391 | 22,271 | 77,464 | - | 75,701 | 58,013 | 133,714 | 73,884 | 107,588 | 65,250 | 92,000 | 86,500 | 114,250 |
| Net income 1 | 29,237 | 57,886 | -57,081 | - | -570 | 12,081 | 37,938 | 63,522 | - | 19,193 | 34,939 | 54,132 | 12,309 | 64,010 | - | 53,187 | 38,757 | 91,944 | 46,106 | 83,973 | 41,750 | 63,000 | 61,000 | 79,750 |
| Net margin | 1.56% | 2.68% | -3.44% | - | -0.07% | 0.73% | 3.86% | 5.23% | - | 2.2% | 3.48% | 2.89% | 1.16% | 5.06% | - | 5.41% | 3.57% | 4.44% | 3.87% | 6.01% | 4% | 5.53% | 5.07% | 5.49% |
| EPS 2 | 8.706 | - | -16.99 | - | -0.1690 | 3.599 | 11.30 | 18.92 | - | 5.716 | 10.40 | 16.12 | 3.664 | 19.06 | - | 15.83 | 11.53 | 27.36 | 13.72 | 24.99 | - | - | - | - |
| Dividend per Share | 7.500 | 7.500 | - | 7.500 | - | 4.500 | - | - | 5.500 | - | - | 6.000 | - | - | 7.000 | - | - | 8.000 | - | - | - | - | - | - |
| Announcement Date | 10/31/19 | 5/11/20 | 10/30/20 | 5/10/21 | 10/29/21 | 10/29/21 | 2/7/22 | 5/12/22 | 5/12/22 | 8/5/22 | 11/1/22 | 11/1/22 | 2/7/23 | 5/10/23 | 5/10/23 | 8/4/23 | 11/6/23 | 11/6/23 | 2/6/24 | 5/8/24 | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 693,842 | 1,089,243 | 990,588 | 764,016 | 844,771 | 711,677 | 882,186 | 788,644 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.8 x | 3.7 x | 3.412 x | 2.613 x | 2.551 x | 1.623 x | 1.69 x | 1.351 x |
| Free Cash Flow 1 | 243,000 | 206,273 | -277,197 | 301,869 | 35,313 | 170,700 | 168,269 | 189,355 |
| ROE (net income / shareholders' equity) | 7.2% | 6.6% | 3.1% | 7.7% | 7.9% | 6.55% | 10.7% | 12.4% |
| ROA (Net income/ Total Assets) | 3.44% | -0.64% | 1.01% | 3.5% | 3.61% | 2.22% | 4% | 4.5% |
| Assets 1 | 2,949,862 | -13,509,117 | 4,033,207 | 3,244,770 | 3,614,442 | 9,983,049 | 6,331,071 | 6,408,763 |
| Book Value Per Share 2 | 426.0 | 363.0 | 406.0 | 470.0 | 518.0 | 668.0 | 659.0 | 723.0 |
| Cash Flow per Share 2 | 89.40 | 122.0 | 83.00 | 74.30 | 83.10 | 112.0 | 118.0 | 123.0 |
| Capex 1 | 147,300 | 246,291 | 146,212 | 129,256 | 131,905 | 160,486 | 175,122 | 183,414 |
| Capex / Sales | 3.61% | 6.09% | 3.95% | 3.35% | 3.14% | 3.45% | 3.62% | 3.57% |
| Announcement Date | 5/9/19 | 5/11/20 | 5/10/21 | 5/12/22 | 5/10/23 | 5/8/24 | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
1,368
JPY
Average target price
1,502
JPY
Spread / Average Target
+9.83%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +66.00% | 29.24B | |
| +1.88% | 243B | |
| +29.39% | 181B | |
| -3.57% | 132B | |
| +58.75% | 95.16B | |
| -7.33% | 72.44B | |
| -8.40% | 55.41B | |
| +36.57% | 36.26B | |
| +14.84% | 30.4B | |
| -42.23% | 29.56B |
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