SUBARU CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,490 JPY | -3.24% |
|
+2.35% | +34.96% |
| Jul. 01 | Tranche Update on Subaru Corporation's Equity Buyback Plan announced on May 13, 2024. | CI |
| May. 30 | Subaru, Toyota, Mazda Collaborate to Develop Compact, Carbon-Neutral Engines | MT |
Valuation
| Fiscal Period: März | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,589,993 | 1,690,194 | 1,493,979 | 1,621,784 | 2,592,189 | 2,600,042 | - | - |
| Enterprise Value (EV) 1 | 970,237 | 1,116,751 | 701,746 | 1,072,755 | 1,943,689 | 1,979,593 | 1,902,428 | 1,513,461 |
| P/E ratio | 10.4 x | 22.1 x | 21.3 x | 8.09 x | 6.77 x | 7.24 x | 7 x | 6.78 x |
| Yield | 4.82% | 2.54% | 2.87% | 3.59% | 3.07% | 3.21% | 3.44% | 3.72% |
| Capitalization / Revenue | 0.48 x | 0.6 x | 0.54 x | 0.43 x | 0.55 x | 0.53 x | 0.51 x | 0.5 x |
| EV / Revenue | 0.29 x | 0.39 x | 0.26 x | 0.28 x | 0.41 x | 0.4 x | 0.38 x | 0.29 x |
| EV / EBITDA | 2.41 x | 3.62 x | 2.23 x | 2.11 x | 2.83 x | 3.35 x | 3.17 x | 2.47 x |
| EV / FCF | 5.26 x | 6.78 x | 7.43 x | 2.91 x | 3.35 x | 5.74 x | 5.29 x | 3.67 x |
| FCF Yield | 19% | 14.7% | 13.5% | 34.4% | 29.8% | 17.4% | 18.9% | 27.2% |
| Price to Book | 0.93 x | 0.95 x | 0.79 x | 0.77 x | 1.01 x | 0.93 x | 0.86 x | 0.79 x |
| Nbr of stocks (in thousands) | 766,816 | 766,876 | 766,929 | 766,982 | 751,795 | 744,998 | - | - |
| Reference price 2 | 2,074 | 2,204 | 1,948 | 2,114 | 3,448 | 3,490 | 3,490 | 3,490 |
| Announcement Date | 5/18/20 | 5/11/21 | 5/12/22 | 5/11/23 | 5/13/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,344,109 | 2,830,210 | 2,744,520 | 3,774,468 | 4,702,947 | 4,906,629 | 5,051,208 | 5,186,579 |
| EBITDA 1 | 403,061 | 308,785 | 314,507 | 507,289 | 685,978 | 591,352 | 600,397 | 613,979 |
| EBIT 1 | 210,319 | 102,468 | 90,452 | 267,483 | 468,198 | 481,827 | 481,070 | 482,094 |
| Operating Margin | 6.29% | 3.62% | 3.3% | 7.09% | 9.96% | 9.82% | 9.52% | 9.3% |
| Earnings before Tax (EBT) 1 | 207,656 | 113,954 | 106,972 | 278,366 | 532,574 | 513,279 | 531,527 | 550,925 |
| Net income 1 | 152,587 | 76,510 | 70,007 | 200,431 | 385,084 | 359,071 | 367,747 | 376,650 |
| Net margin | 4.56% | 2.7% | 2.55% | 5.31% | 8.19% | 7.32% | 7.28% | 7.26% |
| EPS 2 | 199.0 | 99.77 | 91.28 | 261.3 | 509.2 | 482.0 | 498.9 | 514.9 |
| Free Cash Flow 1 | 184,290 | 164,651 | 94,400 | 368,762 | 579,518 | 344,925 | 359,387 | 412,291 |
| FCF margin | 5.51% | 5.82% | 3.44% | 9.77% | 12.32% | 7.03% | 7.11% | 7.95% |
| FCF Conversion (EBITDA) | 45.72% | 53.32% | 30.02% | 72.69% | 84.48% | 58.33% | 59.86% | 67.15% |
| FCF Conversion (Net income) | 120.78% | 215.2% | 134.84% | 183.98% | 150.49% | 96.06% | 97.73% | 109.46% |
| Dividend per Share 2 | 100.0 | 56.00 | 56.00 | 76.00 | 106.0 | 112.0 | 120.0 | 129.8 |
| Announcement Date | 5/18/20 | 5/11/21 | 5/12/22 | 5/11/23 | 5/13/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 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 | 1,738,436 | 1,218,392 | 1,611,818 | 1,341,655 | 665,859 | 737,006 | 1,402,865 | 834,101 | 916,795 | 1,750,896 | 1,057,088 | 966,484 | 2,023,572 | 1,082,140 | 1,131,315 | 2,213,455 | 1,282,943 | 1,206,549 | 2,489,492 | 1,210,573 | 1,230,711 | 2,537,168 | 1,264,566 | 1,284,888 | 2,471,551 | 1,230,317 | 2,560,104 | 2,656,230 | 2,696,861 |
| EBITDA 1 | - | - | - | - | 79,947 | 69,157 | - | 93,315 | 132,572 | - | 164,237 | 117,165 | - | 143,318 | 150,931 | - | 234,238 | 157,491 | - | 136,165 | 147,534 | - | 160,679 | 117,343 | - | 134,981 | - | - | - |
| EBIT 1 | 115,472 | 30,611 | 71,857 | 54,451 | 22,735 | 13,266 | 36,001 | 36,980 | 73,465 | 110,445 | 103,247 | 53,791 | 157,038 | 84,467 | 101,375 | 185,842 | 182,128 | 100,228 | 282,356 | 111,408 | 126,142 | - | 149,439 | 104,222 | - | 111,990 | - | - | - |
| Operating Margin | 6.64% | 2.51% | 4.46% | 4.06% | 3.41% | 1.8% | 2.57% | 4.43% | 8.01% | 6.31% | 9.77% | 5.57% | 7.76% | 7.81% | 8.96% | 8.4% | 14.2% | 8.31% | 11.34% | 9.2% | 10.25% | - | 11.82% | 8.11% | - | 9.1% | - | - | - |
| Earnings before Tax (EBT) 1 | 114,552 | 36,100 | 77,854 | 61,170 | 30,080 | 15,722 | 45,802 | 38,407 | 81,949 | 120,356 | 94,766 | 63,244 | 158,010 | 115,364 | 111,089 | 226,453 | 189,773 | 116,348 | 306,121 | 131,615 | 138,972 | 330,861 | 143,619 | 106,036 | 247,065 | 171,230 | 499,993 | 243,482 | 618,722 |
| Net income 1 | 84,302 | 23,706 | 52,804 | 44,788 | 18,080 | 7,139 | 25,219 | 27,212 | 50,646 | 77,858 | 76,561 | 46,012 | 122,573 | 73,242 | 77,706 | 150,948 | 147,911 | 86,225 | 234,136 | 88,790 | 94,857 | - | 99,145 | 71,440 | - | 82,355 | - | - | - |
| Net margin | 4.85% | 1.95% | 3.28% | 3.34% | 2.72% | 0.97% | 1.8% | 3.26% | 5.52% | 4.45% | 7.24% | 4.76% | 6.06% | 6.77% | 6.87% | 6.82% | 11.53% | 7.15% | 9.4% | 7.33% | 7.71% | - | 7.84% | 5.56% | - | 6.69% | - | - | - |
| EPS 2 | 109.9 | 30.91 | 68.86 | 58.40 | 23.58 | 9.300 | 32.88 | 35.48 | 66.04 | 101.5 | 99.82 | 59.99 | 159.8 | 95.89 | 102.7 | 198.6 | 195.9 | 114.7 | 310.6 | 127.7 | 131.0 | 299.0 | 155.2 | 91.18 | 221.0 | 147.8 | 456.5 | 217.1 | 567.0 |
| Dividend per Share 2 | 28.00 | 28.00 | 28.00 | 28.00 | - | 28.00 | 28.00 | - | 38.00 | 38.00 | - | 38.00 | 38.00 | - | 48.00 | 48.00 | - | 58.00 | - | - | 55.00 | - | - | 55.00 | - | - | - | - | - |
| Announcement Date | 5/18/20 | 11/4/20 | 5/11/21 | 11/5/21 | 2/7/22 | 5/12/22 | 5/12/22 | 8/3/22 | 11/2/22 | 11/2/22 | 2/8/23 | 5/11/23 | 5/11/23 | 8/2/23 | 11/2/23 | 11/2/23 | 2/8/24 | 5/13/24 | 5/13/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 619,756 | 573,443 | 792,233 | 549,029 | 648,500 | 620,448 | 697,614 | 1,086,581 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 184,290 | 164,651 | 94,400 | 368,762 | 579,518 | 344,925 | 359,387 | 412,291 |
| ROE (net income / shareholders' equity) | 9% | 4.4% | 3.8% | 10% | 16.5% | 13.4% | 12.6% | 11.8% |
| ROA (Net income/ Total Assets) | 6.62% | 3.4% | 3.08% | 7.44% | 12.2% | 9.1% | 8.8% | 8.51% |
| Assets 1 | 2,306,054 | 2,251,115 | 2,275,977 | 2,695,744 | 3,166,395 | 3,946,650 | 4,180,966 | 4,425,413 |
| Book Value Per Share 2 | 2,234 | 2,318 | 2,465 | 2,739 | 3,409 | 3,737 | 4,051 | 4,423 |
| Cash Flow per Share 2 | 450.0 | 369.0 | 383.0 | 574.0 | 797.0 | 658.0 | 724.0 | 792.0 |
| Capex 1 | 131,690 | 124,725 | 101,251 | 134,997 | 188,147 | 179,917 | 194,214 | 213,250 |
| Capex / Sales | 3.94% | 4.41% | 3.69% | 3.58% | 4% | 3.67% | 3.84% | 4.11% |
| Announcement Date | 5/18/20 | 5/11/21 | 5/12/22 | 5/11/23 | 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
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
3,490
JPY
Average target price
3,700
JPY
Spread / Average Target
+6.02%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +34.96% | 16.18B | |
| +4.67% | 69.28B | |
| -4.43% | 59.73B | |
| -12.98% | 59.71B | |
| +29.51% | 53.05B | |
| +18.21% | 52.03B | |
| +5.33% | 51.26B | |
| +38.08% | 44.77B | |
| +27.28% | 43.69B | |
| +66.57% | 38.46B |
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