Financials Screen Holdings Co., Ltd.

Equities

7735

JP3494600004

Semiconductor Equipment & Testing

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-12 am EDT			5-day change	1st Jan Change
15,645 ^JPY	-3.99%		-3.84%	+31.14%

Jun. 27	Japan's Nikkei backpedals as yen intervention risks weigh	RE
Jun. 25	Screen Holdings Mulls Introducing Smaller Investment Units	MT

Valuation

Fiscal Period: Maart	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	186,678	454,560	575,705	552,326	1,893,610	1,518,818	-	-
Enterprise Value (EV) ¹	216,212	436,285	486,852	411,978	1,703,514	1,337,622	1,315,154	1,282,124
P/E ratio	37.3 x	29.9 x	12.7 x	9.58 x	26.9 x	19.8 x	17.1 x	15.1 x
Yield	0.75%	0.92%	2.37%	3.13%	1.12%	1.47%	1.73%	2.08%
Capitalization / Revenue	0.58 x	1.42 x	1.4 x	1.2 x	3.75 x	2.69 x	2.48 x	2.24 x
EV / Revenue	0.67 x	1.36 x	1.18 x	0.89 x	3.37 x	2.37 x	2.15 x	1.89 x
EV / EBITDA	10.1 x	12.8 x	6.88 x	4.83 x	16.2 x	11.1 x	9.46 x	8.16 x
EV / FCF	417 x	8.84 x	6.78 x	4.77 x	30.2 x	32.1 x	24.6 x	19.2 x
FCF Yield	0.24%	11.3%	14.7%	21%	3.31%	3.11%	4.07%	5.21%
Price to Book	1.07 x	2.18 x	2.32 x	1.84 x	5.21 x	3.7 x	3.22 x	2.81 x
Nbr of stocks (in thousands)	93,339	93,339	93,156	94,820	94,846	97,080	-	-
Reference price ²	2,000	4,870	6,180	5,825	19,965	15,645	15,645	15,645
Announcement Date	5/12/20	5/11/21	5/11/22	5/10/23	5/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	323,249	320,322	411,865	460,834	504,916	564,293	612,981	676,921
EBITDA ¹	21,421	34,120	70,773	85,251	105,001	120,101	138,990	157,104
EBIT ¹	12,561	24,492	61,273	76,452	94,164	106,818	122,980	138,716
Operating Margin	3.89%	7.65%	14.88%	16.59%	18.65%	18.93%	20.06%	20.49%
Earnings before Tax (EBT) ¹	8,579	20,673	56,771	78,515	94,158	104,251	120,759	137,111
Net income ¹	5,010	15,164	45,481	57,491	70,579	76,277	87,945	99,274
Net margin	1.55%	4.73%	11.04%	12.48%	13.98%	13.52%	14.35%	14.67%
EPS ²	53.68	162.6	488.3	608.2	742.1	790.3	913.6	1,036
Free Cash Flow ¹	518	49,363	71,800	86,420	56,443	41,639	53,563	66,830
FCF margin	0.16%	15.41%	17.43%	18.75%	11.18%	7.38%	8.74%	9.87%
FCF Conversion (EBITDA)	2.42%	144.67%	101.45%	101.37%	53.75%	34.67%	38.54%	42.54%
FCF Conversion (Net income)	10.34%	325.53%	157.87%	150.32%	79.97%	54.59%	60.91%	67.32%
Dividend per Share ²	15.00	45.00	146.5	182.5	223.5	230.5	270.9	325.0
Announcement Date	5/12/20	5/11/21	5/11/22	5/10/23	5/9/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S2	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 Q1	2026 S1	2026 S2	2027 S1
Net sales ¹	175,059	142,715	177,607	187,206	103,901	120,758	224,659	101,826	116,578	218,404	116,839	125,591	242,430	99,690	123,570	223,260	124,571	157,085	281,656	131,360	142,748	266,800	135,113	150,800	283,200	143,700	-	-	-
EBITDA ¹	-	-	-	-	18,478	23,503	-	19,979	22,504	-	20,654	21,488	-	15,766	27,783	-	27,968	33,484	-	28,742	34,031	-	26,155	33,919	-	-	-	-	-
EBIT ¹	9,122	6,485	18,007	24,077	16,085	21,111	37,196	17,849	20,323	38,172	18,483	19,797	38,280	13,418	25,132	38,550	25,141	30,473	55,614	24,818	27,804	49,800	25,494	28,253	49,400	25,000	-	-	-
Operating Margin	5.21%	4.54%	10.14%	12.86%	15.48%	17.48%	16.56%	17.53%	17.43%	17.48%	15.82%	15.76%	15.79%	13.46%	20.34%	17.27%	20.18%	19.4%	19.75%	18.89%	19.48%	18.67%	18.87%	18.74%	17.44%	17.4%	-	-	-
Earnings before Tax (EBT) ¹	4,927	5,418	-	23,091	16,120	17,560	-	21,759	20,483	42,242	18,504	17,769	36,273	13,678	25,712	39,390	25,316	29,452	54,768	23,750	26,600	-	24,650	26,650	-	25,000	-	-	-
Net income ¹	2,628	3,372	11,792	17,605	12,013	15,863	27,876	16,091	13,600	29,691	12,150	15,650	27,800	9,428	16,919	26,347	18,250	25,982	44,232	18,315	20,332	37,000	17,976	20,769	36,950	17,500	-	-	-
Net margin	1.5%	2.36%	6.64%	9.4%	11.56%	13.14%	12.41%	15.8%	11.67%	13.59%	10.4%	12.46%	11.47%	9.46%	13.69%	11.8%	14.65%	16.54%	15.7%	13.94%	14.24%	13.87%	13.3%	13.77%	13.05%	12.18%	-	-	-
EPS ²	28.16	36.13	126.5	189.0	129.0	170.3	299.3	171.8	143.3	315.0	128.0	165.1	293.1	99.43	178.4	277.8	192.4	271.8	464.3	201.8	223.0	390.1	192.7	210.0	389.6	-	-	-	-
Dividend per Share ²	15.00	-	45.00	-	-	146.5	146.5	-	-	-	-	182.5	182.5	-	83.50	83.50	-	140.0	140.0	-	100.0	101.0	-	124.0	126.0	-	118.5	146.0	140.0
Announcement Date	5/12/20	10/28/20	5/11/21	10/27/21	1/28/22	5/11/22	5/11/22	7/27/22	10/28/22	10/28/22	1/31/23	5/10/23	5/10/23	7/28/23	10/31/23	10/31/23	1/31/24	5/9/24	5/9/24	-	-	-	-	-	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	29,534	-	-	-	-	-	-	-
Net Cash position ¹	-	18,275	88,853	140,348	190,096	181,196	203,664	236,693
Leverage (Debt/EBITDA)	1.379 x	-	-	-	-	-	-	-
Free Cash Flow ¹	518	49,363	71,800	86,420	56,443	41,639	53,563	66,830
ROE (net income / shareholders' equity)	2.8%	7.9%	19.9%	21%	21%	19.7%	20.4%	20.1%
ROA (Net income/ Total Assets)	3.19%	6.22%	14.1%	15.1%	15.2%	13.6%	15%	14.9%
Assets ¹	156,913	243,811	322,118	379,639	464,003	561,737	587,272	665,245
Book Value Per Share ²	1,864	2,238	2,659	3,163	3,831	4,232	4,854	5,563
Cash Flow per Share ²	149.0	266.0	590.0	701.0	856.0	800.0	963.0	1,134
Capex ¹	7,984	7,842	13,409	29,015	39,812	28,333	26,943	26,843
Capex / Sales	2.47%	2.45%	3.26%	6.3%	7.88%	5.02%	4.4%	3.97%
Announcement Date	5/12/20	5/11/21	5/11/22	5/10/23	5/9/24	-	-	-

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 Screen Holdings Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

15,645 JPY

Average target price

17,890 JPY

Spread / Average Target

+14.35%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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