Financials Rohto Pharmaceutical Co.,Ltd.

Equities

4527

JP3982400008

Pharmaceuticals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-05 am EDT			5-day change	1st Jan Change
3,264 ^JPY	+0.59%		-1.81%	+14.81%

Jun. 10	Rohto Pharmaceutical Acquires 51% of Austrian-company Mono Chem-pharm Produkte	MT
Jun. 06	Rohto Pharmaceutical Co.,Ltd. agreed to acquire 51% stake in Mono chem-pharm Produkte Gmbh for ?30 million.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	323,906	337,648	336,849	421,488	631,946	740,310	-	-
Enterprise Value (EV) ¹	291,219	299,636	291,984	370,080	563,688	598,172	690,239	644,275
P/E ratio	33 x	21.9 x	20.1 x	20.1 x	24 x	21.9 x	21.8 x	19.2 x
Yield	0.88%	0.88%	0.95%	0.97%	0.79%	0.91%	0.93%	1%
Capitalization / Revenue	1.76 x	1.79 x	1.86 x	2.11 x	2.65 x	2.5 x	2.45 x	2.26 x
EV / Revenue	1.59 x	1.59 x	1.61 x	1.85 x	2.36 x	2.21 x	2.28 x	1.97 x
EV / EBITDA	10.7 x	9.98 x	9.82 x	10 x	13.5 x	12.3 x	12.6 x	10.6 x
EV / FCF	19.3 x	25 x	30.5 x	34.1 x	31.8 x	24.8 x	25.5 x	20.6 x
FCF Yield	5.19%	4%	3.28%	2.93%	3.15%	4.04%	3.93%	4.85%
Price to Book	2.48 x	2.43 x	2.17 x	2.37 x	3.02 x	2.75 x	2.79 x	2.5 x
Nbr of stocks (in thousands)	227,942	228,140	228,140	228,140	228,139	228,139	-	-
Reference price ²	1,421	1,480	1,476	1,848	2,770	3,245	3,245	3,245
Announcement Date	5/10/19	5/12/20	5/12/21	5/12/22	5/12/23	5/13/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	183,582	188,327	181,287	199,646	238,664	270,840	302,769	327,762
EBITDA ¹	27,216	30,022	29,738	37,022	41,760	48,735	54,581	60,537
EBIT ¹	20,812	23,085	22,990	29,349	33,959	40,048	44,826	50,764
Operating Margin	11.34%	12.26%	12.68%	14.7%	14.23%	14.79%	14.81%	15.49%
Earnings before Tax (EBT) ¹	16,300	21,730	23,006	27,953	34,290	41,518	46,759	53,343
Net income ¹	9,799	15,410	16,743	21,018	26,377	30,936	33,937	38,473
Net margin	5.34%	8.18%	9.24%	10.53%	11.05%	11.42%	11.21%	11.74%
EPS ²	43.00	67.56	73.39	92.13	115.6	135.6	148.8	168.6
Free Cash Flow ¹	15,128	11,971	9,574	10,844	17,748	24,145	27,094	31,247
FCF margin	8.24%	6.36%	5.28%	5.43%	7.44%	8.91%	8.95%	9.53%
FCF Conversion (EBITDA)	55.58%	39.87%	32.19%	29.29%	42.5%	49.54%	49.64%	51.62%
FCF Conversion (Net income)	154.38%	77.68%	57.18%	51.59%	67.29%	78.05%	79.83%	81.22%
Dividend per Share ²	12.50	13.00	14.00	18.00	22.00	27.00	30.12	32.33
Announcement Date	5/10/19	5/12/20	5/12/21	5/12/22	5/12/23	5/13/24	-	-

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	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	90,428	97,899	83,004	98,283	48,704	91,019	53,003	55,624	108,627	52,255	58,058	110,313	65,950	62,401	61,171	66,698	127,869	73,294	69,677	142,971	67,510	73,580	82,315	77,965
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	10,393	12,692	10,779	12,211	7,763	13,771	9,777	5,801	15,578	8,302	7,967	16,269	12,329	5,361	11,292	9,674	20,966	14,296	4,786	19,082	12,335	10,947	16,192	6,241
Operating Margin	11.49%	12.96%	12.99%	12.42%	15.94%	15.13%	18.45%	10.43%	14.34%	15.89%	13.72%	14.75%	18.69%	8.59%	18.46%	14.5%	16.4%	19.51%	6.87%	13.35%	18.27%	14.88%	19.67%	8%
Earnings before Tax (EBT)	10,478	11,252	9,050	13,956	7,429	13,840	9,709	4,404	-	9,655	8,155	17,810	11,717	4,763	12,242	10,302	22,544	14,026	-	-	12,785	11,675	17,160	5,658
Net income ¹	7,305	8,105	6,178	10,565	6,025	10,756	6,177	4,085	10,262	6,994	6,198	13,192	8,445	4,740	9,090	7,504	16,594	9,563	4,779	-	9,200	8,186	11,578	5,286
Net margin	8.08%	8.28%	7.44%	10.75%	12.37%	11.82%	11.65%	7.34%	9.45%	13.38%	10.68%	11.96%	12.81%	7.6%	14.86%	11.25%	12.98%	13.05%	6.86%	-	13.63%	11.12%	14.07%	6.78%
EPS ²	32.04	-	27.08	-	26.41	47.15	27.08	17.90	-	30.66	27.16	57.82	37.02	-	39.85	32.89	72.74	41.92	20.95	-	38.13	34.63	50.85	31.43
Dividend per Share	6.500	-	6.500	-	-	7.500	-	-	-	-	-	10.00	-	-	-	12.00	12.00	-	-	-	-	-	-	-
Announcement Date	11/13/19	5/12/20	11/12/20	5/12/21	11/11/21	11/11/21	2/10/22	5/12/22	5/12/22	8/9/22	11/10/22	11/10/22	2/13/23	5/12/23	8/9/23	11/10/23	11/10/23	2/9/24	5/13/24	5/13/24	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	32,687	38,012	44,865	51,408	68,258	78,716	50,071	96,036
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	15,128	11,971	9,574	10,844	17,748	24,145	27,094	31,247
ROE (net income / shareholders' equity)	7.6%	11.4%	11.7%	12.6%	13.6%	13.6%	13.2%	13.6%
ROA (Net income/ Total Assets)	9.44%	10.9%	10.8%	11.6%	12.2%	12.9%	9.29%	10%
Assets ¹	103,773	141,070	154,437	180,817	216,658	239,071	365,366	383,068
Book Value Per Share ²	574.0	609.0	682.0	780.0	917.0	1,078	1,163	1,298
Cash Flow per Share	70.00	94.10	101.0	124.0	148.0	172.0	-	-
Capex ¹	6,617	7,069	10,434	11,948	12,024	10,100	12,830	10,233
Capex / Sales	3.6%	3.75%	5.76%	5.98%	5.04%	3.73%	4.24%	3.12%
Announcement Date	5/10/19	5/12/20	5/12/21	5/12/22	5/12/23	5/13/24	-	-

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 Rohto Pharmaceutical Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,245 JPY

Average target price

3,948 JPY

Spread / Average Target

+21.66%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Pharmaceuticals

	1st Jan change	Capi.
ROHTO PHARMACEUTICAL CO.,LTD.	+14.81%	4.59B
ELI LILLY AND COMPANY	+54.07%	809B
NOVO NORDISK A/S	+40.17%	624B
JOHNSON & JOHNSON	-7.05%	351B
MERCK & CO., INC.	+15.44%	319B
ABBVIE INC.	+5.72%	289B
ASTRAZENECA PLC	+14.74%	240B
ROCHE HOLDING AG	+0.53%	219B
NOVARTIS AG	+14.68%	220B
AMGEN INC.	+7.42%	166B

Other Pharmaceuticals