NIPPON SHINYAKU CO., LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,482 JPY | -0.20% |
|
+0.90% | -30.28% |
| Apr. 10 | Jefferies Adjusts Nippon Shinyaku’s Price Target to 5,100 Yen From 6,900 Yen, Keeps at Buy | MT |
| Mar. 18 | Nippon Shinyaku Co., Ltd.(TSE:4516) dropped from S&P Japan Mid Cap 100 | CI |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 571,160 | 554,319 | 561,052 | 392,668 | 301,067 | 234,994 | - | - |
| Enterprise Value (EV) 1 | 524,046 | 493,520 | 503,199 | 323,731 | 235,236 | 163,135 | 148,318 | 134,949 |
| P/E ratio | 33.9 x | 26.8 x | 22.5 x | 17.2 x | 11.6 x | 9.24 x | 8.63 x | 9.16 x |
| Yield | 1.01% | 1.2% | 1.32% | 1.96% | 2.77% | 3.63% | 3.71% | 3.73% |
| Capitalization / Revenue | 4.9 x | 4.55 x | 4.08 x | 2.72 x | 2.03 x | 1.54 x | 1.47 x | 1.45 x |
| EV / Revenue | 4.49 x | 4.05 x | 3.66 x | 2.25 x | 1.59 x | 1.07 x | 0.93 x | 0.83 x |
| EV / EBITDA | 20.8 x | 16.6 x | 16.1 x | 9.23 x | 6.14 x | 4.28 x | 3.63 x | 3.45 x |
| EV / FCF | 51.2 x | 26.2 x | 52.1 x | 37.9 x | 36.9 x | 7.53 x | 6.6 x | 7.49 x |
| FCF Yield | 1.95% | 3.81% | 1.92% | 2.64% | 2.71% | 13.3% | 15.2% | 13.4% |
| Price to Book | 3.93 x | 3.42 x | 3.11 x | 2.01 x | 1.37 x | 0.99 x | 0.92 x | 0.87 x |
| Nbr of stocks (in thousands) | 67,354 | 67,353 | 67,353 | 67,353 | 67,353 | 67,353 | - | - |
| Reference price 2 | 8,480 | 8,230 | 8,330 | 5,830 | 4,470 | 3,489 | 3,489 | 3,489 |
| Announcement Date | 5/13/20 | 5/14/21 | 5/11/22 | 5/11/23 | 5/10/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 116,637 | 121,885 | 137,484 | 144,175 | 148,255 | 152,243 | 159,480 | 162,591 |
| EBITDA 1 | 25,136 | 29,684 | 31,232 | 35,090 | 38,318 | 38,104 | 40,809 | 39,158 |
| EBIT 1 | 21,668 | 26,134 | 32,948 | 30,049 | 33,295 | 32,550 | 35,159 | 33,087 |
| Operating Margin | 18.58% | 21.44% | 23.96% | 20.84% | 22.46% | 21.38% | 22.05% | 20.35% |
| Earnings before Tax (EBT) 1 | 22,442 | 28,759 | 33,301 | 30,489 | 33,616 | 32,950 | 35,538 | 33,466 |
| Net income 1 | 16,866 | 20,702 | 24,986 | 22,812 | 25,851 | 25,626 | 27,218 | 25,652 |
| Net margin | 14.46% | 16.98% | 18.17% | 15.82% | 17.44% | 16.83% | 17.07% | 15.78% |
| EPS 2 | 250.4 | 307.4 | 371.0 | 338.7 | 383.8 | 377.6 | 404.1 | 380.8 |
| Free Cash Flow 1 | 10,237 | 18,805 | 9,659 | 8,539 | 6,368 | 21,658 | 22,483 | 18,022 |
| FCF margin | 8.78% | 15.43% | 7.03% | 5.92% | 4.3% | 14.23% | 14.1% | 11.08% |
| FCF Conversion (EBITDA) | 40.73% | 63.35% | 30.93% | 24.33% | 16.62% | 56.84% | 55.09% | 46.02% |
| FCF Conversion (Net income) | 60.7% | 90.84% | 38.66% | 37.43% | 24.63% | 84.51% | 82.6% | 70.25% |
| Dividend per Share 2 | 86.00 | 99.00 | 110.0 | 114.0 | 124.0 | 126.6 | 129.4 | 130.1 |
| Announcement Date | 5/13/20 | 5/14/21 | 5/11/22 | 5/11/23 | 5/10/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S2 | 2021 S1 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 59,250 | 57,817 | 71,568 | 34,650 | 31,329 | 35,619 | 71,136 | 38,783 | 34,256 | 37,012 | 36,302 | 73,314 | 39,414 | 35,527 | 37,423 | 37,150 | 74,500 | 39,000 | 37,715 | 39,700 | 80,000 |
| EBITDA 1 | - | - | - | 8,568 | -293 | - | - | 10,117 | 3,424 | - | - | - | 10,805 | 4,173 | 8,715 | 6,785 | - | 11,300 | 9,100 | - | - |
| EBIT 1 | 10,643 | 11,140 | 21,504 | 7,817 | -1,022 | 10,276 | 19,161 | 8,826 | 2,062 | 11,163 | 9,715 | 20,878 | 9,572 | 2,845 | 7,962 | 7,342 | 14,000 | 9,550 | 6,465 | 8,700 | 17,000 |
| Operating Margin | 17.96% | 19.27% | 30.05% | 22.56% | -3.26% | 28.85% | 26.94% | 22.76% | 6.02% | 30.16% | 26.76% | 28.48% | 24.29% | 8.01% | 21.27% | 19.76% | 18.79% | 24.49% | 17.14% | 21.91% | 21.25% |
| Earnings before Tax (EBT) 1 | 11,171 | 11,248 | 22,250 | 8,313 | -790 | 10,514 | 19,398 | 9,024 | 2,067 | 11,440 | 9,706 | 21,146 | 9,827 | 2,643 | 8,105 | 7,472 | 14,200 | 9,710 | 6,585 | 8,900 | 17,200 |
| Net income 1 | 8,575 | 8,073 | 16,561 | 6,045 | 438 | 8,249 | 15,222 | 7,452 | 138 | 8,749 | - | 16,176 | 7,826 | 1,849 | 6,205 | 5,722 | 10,900 | 7,460 | 5,535 | 5,300 | 12,800 |
| Net margin | 14.47% | 13.96% | 23.14% | 17.45% | 1.4% | 23.16% | 21.4% | 19.21% | 0.4% | 23.64% | - | 22.06% | 19.86% | 5.2% | 16.58% | 15.4% | 14.63% | 19.13% | 14.68% | 13.35% | 16% |
| EPS 2 | - | 119.9 | 245.9 | 89.75 | 6.500 | 122.5 | 226.0 | 110.6 | 2.050 | 129.9 | - | 240.2 | 116.2 | 27.45 | 91.96 | 96.80 | 161.8 | 96.80 | 66.37 | 78.70 | 190.0 |
| Dividend per Share 2 | - | 49.00 | 51.00 | - | - | - | 57.00 | - | - | - | 62.00 | 62.00 | - | 62.00 | - | 65.00 | - | - | 65.00 | - | - |
| Announcement Date | 5/13/20 | 11/5/20 | 11/10/21 | 2/10/22 | 5/11/22 | 8/9/22 | 11/10/22 | 2/10/23 | 5/11/23 | 8/10/23 | 11/13/23 | 11/13/23 | 2/9/24 | 5/10/24 | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 47,114 | 60,799 | 57,853 | 68,937 | 65,831 | 71,859 | 86,676 | 100,044 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 10,237 | 18,805 | 9,659 | 8,539 | 6,368 | 21,658 | 22,483 | 18,022 |
| ROE (net income / shareholders' equity) | 12% | 13.5% | 13.6% | 12.1% | 12.4% | 11.2% | 11.3% | 9.94% |
| ROA (Net income/ Total Assets) | 13.1% | 14.4% | 16% | 9.97% | 10.3% | 10.3% | 9.95% | 9.01% |
| Assets 1 | 129,182 | 143,910 | 156,428 | 228,696 | 250,429 | 248,050 | 273,555 | 284,562 |
| Book Value Per Share 2 | 2,160 | 2,409 | 2,681 | 2,904 | 3,270 | 3,528 | 3,793 | 4,018 |
| Cash Flow per Share 2 | 302.0 | 360.0 | 439.0 | 414.0 | 458.0 | 474.0 | 474.0 | 423.0 |
| Capex 1 | 2,500 | 2,583 | 10,744 | 5,660 | 16,430 | 7,325 | 7,888 | 7,550 |
| Capex / Sales | 2.14% | 2.12% | 7.81% | 3.93% | 11.08% | 4.81% | 4.95% | 4.64% |
| Announcement Date | 5/13/20 | 5/14/21 | 5/11/22 | 5/11/23 | 5/10/24 | - | - | - |
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
OUTPERFORM
Number of Analysts
7
Last Close Price
3,489
JPY
Average target price
3,987
JPY
Spread / Average Target
+14.28%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -30.28% | 1.52B | |
| +61.53% | 856B | |
| +38.95% | 631B | |
| -3.66% | 359B | |
| +15.06% | 325B | |
| +9.18% | 297B | |
| +5.89% | 234B | |
| +16.53% | 226B | |
| +15.67% | 177B | |
| +2.47% | 165B |
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- Financials Nippon Shinyaku Co., Ltd.
