Financials Takuma Co., Ltd.

Equities

6013

JP3462600002

Environmental Services & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-05 am EDT			5-day change	1st Jan Change
1,763 ^JPY	+0.28%		+6.65%	-1.45%

Jul. 03	Tranche Update on Takuma Co., Ltd.'s Equity Buyback Plan announced on May 14, 2024.	CI
May. 14	Takuma Co., Ltd. announces an Equity Buyback for 3,000,000 shares, representing 3.75% for ¥4,000 million.	CI

Valuation

Fiscal Period: März	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	97,533	194,684	116,147	106,097	152,361	139,804	-	-
Enterprise Value (EV) ¹	52,200	155,944	73,468	41,075	107,777	75,356	69,307	72,792
P/E ratio	13.3 x	25.8 x	15.6 x	11 x	17.4 x	14.4 x	13.6 x	13.6 x
Yield	2.58%	1.5%	2.52%	3.24%	2.52%	3.4%	3.55%	3.61%
Capitalization / Revenue	0.73 x	1.33 x	0.87 x	0.74 x	1.02 x	0.93 x	0.9 x	0.87 x
EV / Revenue	0.39 x	1.06 x	0.55 x	0.29 x	0.72 x	0.5 x	0.45 x	0.45 x
EV / EBITDA	4.96 x	13.5 x	6.75 x	2.75 x	8.96 x	5.21 x	4.55 x	4.76 x
EV / FCF	-4.37 x	-41.8 x	9.81 x	1.64 x	-5.22 x	5.78 x	7.9 x	7.52 x
FCF Yield	-22.9%	-2.39%	10.2%	61.1%	-19.2%	17.3%	12.7%	13.3%
Price to Book	1.15 x	2.16 x	1.23 x	1.05 x	1.38 x	1.27 x	1.21 x	1.16 x
Nbr of stocks (in thousands)	81,142	81,220	81,279	79,953	80,022	79,299	-	-
Reference price ²	1,202	2,397	1,429	1,327	1,904	1,763	1,763	1,763
Announcement Date	5/13/20	5/14/21	5/13/22	5/12/23	5/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	134,454	146,726	134,092	142,651	149,166	149,849	155,096	160,540
EBITDA ¹	10,517	11,509	10,889	14,949	12,026	14,475	15,244	15,295
EBIT ¹	9,600	10,473	9,928	13,813	10,229	12,638	13,341	13,413
Operating Margin	7.14%	7.14%	7.4%	9.68%	6.86%	8.43%	8.6%	8.36%
Earnings before Tax (EBT) ¹	10,139	10,700	10,789	14,102	12,427	13,518	14,221	14,257
Net income ¹	7,445	7,529	7,434	9,621	8,754	9,740	10,252	10,047
Net margin	5.54%	5.13%	5.54%	6.74%	5.87%	6.5%	6.61%	6.26%
EPS ²	90.36	92.73	91.53	120.2	109.4	122.4	129.7	129.8
Free Cash Flow ¹	-11,934	-3,733	7,490	25,091	-20,660	13,030	8,778	9,684
FCF margin	-8.88%	-2.54%	5.59%	17.59%	-13.85%	8.7%	5.66%	6.03%
FCF Conversion (EBITDA)	-	-	68.79%	167.84%	-	90.01%	57.59%	63.31%
FCF Conversion (Net income)	-	-	100.75%	260.79%	-	133.77%	85.62%	96.39%
Dividend per Share ²	31.00	36.00	36.00	43.00	48.00	60.00	62.60	63.67
Announcement Date	5/13/20	5/14/21	5/13/22	5/12/23	5/14/24	-	-	-

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 Q3	2025 Q4
Net sales ¹	76,689	70,352	76,374	59,234	34,445	40,413	74,858	30,940	34,894	65,834	34,834	41,983	76,817	29,821	36,095	65,916	38,936	44,314	83,250	30,025	36,240	38,195	50,442
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,245	3,185	3,855	4,247
EBIT ¹	5,870	5,826	4,647	2,938	2,368	4,622	6,990	2,194	3,471	5,665	3,547	4,601	-	1,142	1,582	2,724	3,540	3,965	7,505	1,872	2,892	3,502	4,392
Operating Margin	7.65%	8.28%	6.08%	4.96%	6.87%	11.44%	9.34%	7.09%	9.95%	8.6%	10.18%	10.96%	-	3.83%	4.38%	4.13%	9.09%	8.95%	9.02%	6.24%	7.98%	9.17%	8.71%
Earnings before Tax (EBT)	-	6,364	-	3,354	2,678	-	-	2,485	-	6,063	3,892	4,147	-	1,378	-	2,907	4,172	-	-	-	-	-	-
Net income ¹	4,315	4,725	-	2,257	1,823	3,354	-	1,730	2,566	4,296	2,723	2,602	-	936	991	1,927	3,020	3,807	-	1,200	2,300	2,850	4,150
Net margin	5.63%	6.72%	-	3.81%	5.29%	8.3%	-	5.59%	7.35%	6.53%	7.82%	6.2%	-	3.14%	2.75%	2.92%	7.76%	8.59%	-	4%	6.35%	7.46%	8.23%
EPS	-	58.22	-	27.78	22.44	-	-	21.56	-	53.63	34.04	-	-	11.71	-	24.10	37.75	-	-	-	-	-	-
Dividend per Share	-	18.00	-	18.00	-	-	-	-	-	19.00	-	-	-	-	-	24.00	-	-	-	-	-	-	-
Announcement Date	5/13/20	11/11/20	5/14/21	11/10/21	2/9/22	5/13/22	5/13/22	8/4/22	11/10/22	11/10/22	2/9/23	5/12/23	5/12/23	8/8/23	11/8/23	11/8/23	2/14/24	5/14/24	5/14/24	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: März	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	45,333	38,740	42,679	65,022	44,584	64,448	70,497	67,013
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-11,934	-3,733	7,490	25,091	-20,660	13,030	8,778	9,684
ROE (net income / shareholders' equity)	8.9%	8.6%	8.1%	9.9%	8.3%	9.1%	9.3%	8.7%
ROA (Net income/ Total Assets)	6.45%	6.46%	6.04%	8.29%	6.02%	6.72%	6.01%	4.7%
Assets ¹	115,465	116,485	122,984	116,044	145,378	144,926	170,495	213,759
Book Value Per Share ²	1,043	1,110	1,163	1,258	1,379	1,391	1,454	1,523
Cash Flow per Share ²	101.0	105.0	103.0	134.0	132.0	158.0	175.0	-
Capex ¹	1,520	2,287	1,510	7,100	5,509	1,922	2,197	1,700
Capex / Sales	1.13%	1.56%	1.13%	4.98%	3.69%	1.28%	1.42%	1.06%
Announcement Date	5/13/20	5/14/21	5/13/22	5/12/23	5/14/24	-	-	-

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 Takuma Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,763 JPY

Average target price

2,042 JPY

Spread / Average Target

+15.83%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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CECEP ENVIRONMENTAL PROTECTION CO., LTD.	-20.22%	2.52B

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