Financials NEXTAGE Co., Ltd.

Equities

3186

JP3758210003

Auto Vehicles, Parts & Service Retailers

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-16 am EDT			5-day change	1st Jan Change
2,109 ^JPY	-2.36%		-1.26%	-18.51%

Jul. 01	Nextage's Attributable Profit Slips 5% in Fiscal H1	MT
Jul. 01	NEXTAGE Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending November 30, 2024	CI

Valuation

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	90,212	104,383	175,611	245,140	182,678	173,107	-	-
Enterprise Value (EV) ¹	123,410	129,163	204,349	301,817	230,468	220,957	218,828	213,409
P/E ratio	20.5 x	21.8 x	18 x	17.5 x	15.8 x	12.3 x	9.6 x	8.03 x
Yield	0.5%	0.5%	0.66%	0.78%	1.4%	1.52%	1.73%	2.06%
Capitalization / Revenue	0.41 x	0.43 x	0.6 x	0.59 x	0.39 x	0.32 x	0.28 x	0.25 x
EV / Revenue	0.56 x	0.54 x	0.7 x	0.72 x	0.5 x	0.4 x	0.36 x	0.31 x
EV / EBITDA	14 x	12.7 x	11.6 x	13.5 x	11.3 x	8.98 x	7.23 x	6.09 x
EV / FCF	-6.16 x	12 x	-40.5 x	-9.53 x	23 x	-92.1 x	81.7 x	31.1 x
FCF Yield	-16.2%	8.32%	-2.47%	-10.5%	4.34%	-1.09%	1.22%	3.22%
Price to Book	3.24 x	3.41 x	4.23 x	4.36 x	2.74 x	2.23 x	1.85 x	1.55 x
Nbr of stocks (in thousands)	75,428	75,204	76,686	79,462	79,807	80,142	-	-
Reference price ²	1,196	1,388	2,290	3,085	2,289	2,160	2,160	2,160
Announcement Date	1/7/20	1/7/21	1/6/22	1/5/23	1/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	219,263	241,146	291,263	418,117	463,464	548,795	610,408	693,980
EBITDA ¹	8,827	10,162	17,570	22,399	20,351	24,600	30,267	35,050
EBIT ¹	6,085	6,825	13,637	19,448	16,084	19,986	25,229	30,270
Operating Margin	2.78%	2.83%	4.68%	4.65%	3.47%	3.64%	4.13%	4.36%
Earnings before Tax (EBT) ¹	5,772	6,498	13,301	18,765	15,533	19,980	25,947	30,747
Net income ¹	4,258	4,740	9,663	13,886	11,556	14,213	17,973	21,547
Net margin	1.94%	1.97%	3.32%	3.32%	2.49%	2.59%	2.94%	3.1%
EPS ²	58.27	63.62	127.1	176.3	145.0	175.2	224.9	268.9
Free Cash Flow ¹	-20,035	10,740	-5,042	-31,684	10,012	-2,400	2,679	6,866
FCF margin	-9.14%	4.45%	-1.73%	-7.58%	2.16%	-0.44%	0.44%	0.99%
FCF Conversion (EBITDA)	-	105.69%	-	-	49.2%	-	8.85%	19.59%
FCF Conversion (Net income)	-	226.58%	-	-	86.64%	-	14.91%	31.87%
Dividend per Share ²	6.000	7.000	15.00	24.00	32.00	32.83	37.33	44.40
Announcement Date	1/7/20	1/7/21	1/6/22	1/5/23	1/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: November	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q1	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	2024 S2
Net sales ¹	115,791	125,355	139,231	152,032	81,507	100,825	182,332	106,998	128,787	235,785	117,937	111,891	229,828	119,395	114,241	233,636	119,457	145,526	264,983	138,918	131,840	256,500
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	177	6,648	6,345	7,292	4,382	4,769	9,151	5,605	4,692	10,297	1,769	6,196	7,965	6,474	1,645	8,119	2,215	5,546	7,761	6,520	5,650	12,100
Operating Margin	0.15%	5.3%	4.56%	4.8%	5.38%	4.73%	5.02%	5.24%	3.64%	4.37%	1.5%	5.54%	3.47%	5.42%	1.44%	3.48%	1.85%	3.81%	2.93%	4.69%	4.29%	4.72%
Earnings before Tax (EBT)	-40	6,538	6,203	7,098	4,325	4,604	8,929	5,627	4,209	9,836	1,741	6,050	7,791	6,409	-	-	2,114	-	7,610	-	-	-
Net income	-148	4,888	4,366	5,297	3,029	3,200	6,229	4,104	3,553	7,657	1,241	4,439	5,680	4,556	1,320	-	1,458	-	5,398	-	-	-
Net margin	-0.13%	3.9%	3.14%	3.48%	3.72%	3.17%	3.42%	3.84%	2.76%	3.25%	1.05%	3.97%	2.47%	3.82%	1.16%	-	1.22%	-	2.04%	-	-	-
EPS	-1.980	-	57.91	-	39.24	-	79.73	51.87	-	-	15.60	-	71.34	57.15	-	-	18.23	-	67.46	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	7/3/20	1/7/21	7/5/21	1/6/22	4/4/22	7/4/22	7/4/22	10/3/22	1/5/23	1/5/23	4/3/23	7/3/23	7/3/23	10/2/23	1/9/24	1/9/24	4/1/24	7/1/24	7/1/24	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	33,198	24,780	28,738	56,677	47,790	47,850	45,721	40,302
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.761 x	2.438 x	1.636 x	2.53 x	2.348 x	1.945 x	1.511 x	1.15 x
Free Cash Flow ¹	-20,035	10,740	-5,042	-31,684	10,012	-2,400	2,679	6,866
ROE (net income / shareholders' equity)	18.6%	16.4%	27%	28.4%	18.8%	20.1%	21.7%	21.1%
ROA (Net income/ Total Assets)	5.68%	5.1%	12.7%	10.2%	6.82%	7.6%	9.4%	9.5%
Assets ¹	75,018	92,994	76,025	136,145	169,378	187,019	191,202	226,811
Book Value Per Share ²	369.0	407.0	542.0	708.0	835.0	969.0	1,169	1,396
Cash Flow per Share ²	95.80	108.0	179.0	214.0	198.0	241.0	301.0	340.0
Capex ¹	10,119	8,039	7,349	12,556	20,490	15,000	13,025	14,246
Capex / Sales	4.62%	3.33%	2.52%	3%	4.42%	2.73%	2.13%	2.05%
Announcement Date	1/7/20	1/7/21	1/6/22	1/5/23	1/9/24	-	-	-

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 NEXTAGE Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2,160 JPY

Average target price

3,140 JPY

Spread / Average Target

+45.37%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Auto Vehicles, Parts & Service Retailers

	1st Jan change	Capi.
NEXTAGE CO., LTD.	-18.51%	1.1B
D'IETEREN GROUP	+18.37%	12.28B
HOTAI MOTOR CO.,LTD.	-12.55%	10.59B
PENSKE AUTOMOTIVE GROUP, INC.	-3.20%	10.39B
ASBURY AUTOMOTIVE GROUP, INC.	+10.95%	5.04B
ZHONGSHENG GROUP HOLDINGS LIMITED	-30.51%	3.99B
RUSH ENTERPRISES, INC.	-7.22%	3.62B
TUHU CAR INC.	-32.38%	2.02B
SONIC AUTOMOTIVE, INC.	+0.48%	1.91B
EAGERS AUTOMOTIVE LIMITED	-27.90%	1.85B

Other Auto Vehicles, Parts & Service Retailers