TOKYO STEEL MANUFACTURING CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,665 JPY | +1.52% |
|
+0.60% | -3.70% |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 134,959 | 86,945 | 101,361 | 135,616 | 151,474 | 181,826 | - | - |
| Enterprise Value (EV) 1 | 74,785 | 20,199 | 44,447 | 68,055 | 66,796 | 182,078 | 61,748 | 54,093 |
| P/E ratio | 8.74 x | 6.53 x | 17.6 x | 4.31 x | 5.01 x | 6.56 x | 7.54 x | 7.74 x |
| Yield | 1.35% | 2.22% | 1.89% | 2.15% | 2.93% | 3% | 3% | 3.1% |
| Capitalization / Revenue | 0.65 x | 0.48 x | 0.72 x | 0.5 x | 0.42 x | 0.5 x | 0.49 x | 0.48 x |
| EV / Revenue | 0.36 x | 0.11 x | 0.31 x | 0.25 x | 0.18 x | 0.5 x | 0.17 x | 0.14 x |
| EV / EBITDA | 3.62 x | 0.89 x | 4.65 x | 1.88 x | 1.55 x | 1.88 x | 1.56 x | 1.35 x |
| EV / FCF | 6.32 x | 1.38 x | -32.5 x | 3.95 x | 2.53 x | 2.92 x | 5.55 x | 2.55 x |
| FCF Yield | 15.8% | 72.2% | -3.08% | 25.3% | 39.6% | 34.2% | 18% | 39.1% |
| Price to Book | 1.04 x | 0.67 x | 0.77 x | 0.85 x | 0.84 x | 0.89 x | 0.83 x | 0.77 x |
| Nbr of stocks (in thousands) | 140,290 | 128,618 | 119,671 | 116,508 | 110,889 | 109,205 | - | - |
| Reference price 2 | 962.0 | 676.0 | 847.0 | 1,164 | 1,366 | 1,665 | 1,665 | 1,665 |
| Announcement Date | 4/23/19 | 4/30/20 | 4/23/21 | 4/22/22 | 4/21/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 207,109 | 179,924 | 141,448 | 270,883 | 361,245 | 367,242 | 372,291 | 379,881 |
| EBITDA 1 | 20,653 | 22,657 | 9,558 | 36,273 | 43,095 | 42,250 | 39,598 | 40,038 |
| EBIT 1 | 16,027 | 17,360 | 3,995 | 31,773 | 38,063 | 38,066 | 33,684 | 33,185 |
| Operating Margin | 7.74% | 9.65% | 2.82% | 11.73% | 10.54% | 10.37% | 9.05% | 8.74% |
| Earnings before Tax (EBT) 1 | 16,367 | 16,357 | 4,293 | 32,881 | 38,656 | 39,768 | 34,449 | 33,398 |
| Net income 1 | 15,444 | 13,795 | 5,889 | 31,937 | 30,848 | 27,958 | 24,057 | 23,341 |
| Net margin | 7.46% | 7.67% | 4.16% | 11.79% | 8.54% | 7.61% | 6.46% | 6.14% |
| EPS 2 | 110.0 | 103.4 | 48.04 | 269.8 | 272.4 | 253.5 | 220.9 | 215.1 |
| Free Cash Flow 1 | 11,840 | 14,585 | -1,367 | 17,237 | 26,436 | 27,226 | 11,135 | 21,173 |
| FCF margin | 5.72% | 8.11% | -0.97% | 6.36% | 7.32% | 7.43% | 2.99% | 5.57% |
| FCF Conversion (EBITDA) | 57.33% | 64.37% | - | 47.52% | 61.34% | 64.44% | 28.12% | 52.88% |
| FCF Conversion (Net income) | 76.66% | 105.73% | - | 53.97% | 85.7% | 103.69% | 46.28% | 90.71% |
| Dividend per Share 2 | 13.00 | 15.00 | 16.00 | 25.00 | 40.00 | 50.00 | 50.00 | 51.67 |
| Announcement Date | 4/23/19 | 4/30/20 | 4/23/21 | 4/22/22 | 4/21/23 | 4/26/24 | - | - |
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 | 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 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 95,917 | 84,007 | 67,358 | 74,090 | 63,040 | 116,111 | 75,320 | 79,452 | 154,772 | 90,651 | 87,761 | 178,412 | 93,938 | 88,895 | 182,833 | 102,755 | 86,397 | 189,152 | 87,476 | 90,614 | 178,090 | 91,233 | 89,767 | 180,900 | 93,733 | 94,033 | 178,000 | 165,000 | - |
| EBITDA 1 | - | - | - | - | 8,300 | - | 13,078 | 10,210 | - | 8,505 | 14,538 | - | 13,869 | 6,183 | - | 13,730 | 10,726 | - | - | 8,300 | - | 11,300 | 7,800 | - | 9,100 | 9,300 | - | - | - |
| EBIT 1 | 7,731 | 9,629 | 3,264 | 731 | 7,299 | 11,014 | 11,688 | 9,071 | - | 7,233 | 13,410 | 20,643 | 12,548 | 4,872 | 17,420 | 12,286 | 9,253 | 21,539 | 8,618 | 7,909 | 16,527 | 8,100 | 7,733 | 15,750 | 8,133 | 10,133 | 20,500 | 14,000 | 8,500 |
| Operating Margin | 8.06% | 11.46% | 4.85% | 0.99% | 11.58% | 9.49% | 15.52% | 11.42% | - | 7.98% | 15.28% | 11.57% | 13.36% | 5.48% | 9.53% | 11.96% | 10.71% | 11.39% | 9.85% | 8.73% | 9.28% | 8.88% | 8.61% | 8.71% | 8.68% | 10.78% | 11.52% | 8.48% | - |
| Earnings before Tax (EBT) 1 | 7,676 | 8,681 | 3,315 | 978 | 7,533 | 11,462 | 12,083 | 9,336 | - | 7,772 | 13,441 | 21,213 | 12,437 | 5,006 | 17,443 | 12,782 | 9,279 | 22,061 | 8,795 | 8,912 | 17,707 | 8,000 | 9,500 | 17,500 | 10,500 | 9,500 | 20,000 | 15,000 | 8,500 |
| Net income 1 | 7,323 | 6,472 | 3,323 | 2,566 | 6,794 | 10,428 | 10,638 | 10,871 | - | 6,809 | 11,853 | 18,662 | 10,734 | 1,452 | 12,186 | 8,845 | 6,767 | 15,612 | 6,539 | 5,807 | 12,346 | 5,600 | 5,167 | 10,650 | 5,667 | 7,467 | 14,000 | 10,500 | 6,000 |
| Net margin | 7.63% | 7.7% | 4.93% | 3.46% | 10.78% | 8.98% | 14.12% | 13.68% | - | 7.51% | 13.51% | 10.46% | 11.43% | 1.63% | 6.67% | 8.61% | 7.83% | 8.25% | 7.48% | 6.41% | 6.93% | 6.14% | 5.76% | 5.89% | 6.05% | 7.94% | 7.87% | 6.36% | - |
| EPS | 53.77 | - | 26.64 | - | 56.99 | 87.36 | 89.76 | - | - | 59.27 | - | 163.2 | 95.00 | - | - | 79.85 | - | 140.9 | 59.39 | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | 7.000 | - | 8.000 | - | - | 10.00 | - | - | - | - | - | 20.00 | - | - | - | - | - | 25.00 | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/24/19 | 4/30/20 | 10/23/20 | 4/23/21 | 10/22/21 | 10/22/21 | 1/21/22 | 4/22/22 | 4/22/22 | 7/22/22 | 10/21/22 | 10/21/22 | 1/20/23 | 4/21/23 | 4/21/23 | 7/21/23 | 10/20/23 | 10/20/23 | 1/19/24 | 4/26/24 | 4/26/24 | - | - | - | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 60,174 | 66,746 | 56,914 | 67,561 | 84,678 | 102,193 | 120,078 | 127,733 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 11,840 | 14,585 | -1,367 | 17,237 | 26,436 | 27,226 | 11,135 | 21,173 |
| ROE (net income / shareholders' equity) | 12.7% | 10.8% | 4.5% | 22.1% | 18.3% | 14.6% | 11.4% | 10.6% |
| ROA (Net income/ Total Assets) | 9.62% | 9.81% | 2.74% | 15.7% | 15.4% | 13.7% | 9.67% | 8.2% |
| Assets 1 | 160,562 | 140,586 | 214,735 | 203,613 | 200,889 | 204,685 | 248,869 | 284,641 |
| Book Value Per Share 2 | 922.0 | 1,015 | 1,094 | 1,367 | 1,618 | 1,867 | 2,006 | 2,166 |
| Cash Flow per Share | 143.0 | 143.0 | 93.40 | 308.0 | 317.0 | 307.0 | - | - |
| Capex 1 | 6,150 | 7,226 | 7,418 | 9,790 | 13,331 | 11,620 | 17,800 | 10,400 |
| Capex / Sales | 2.97% | 4.02% | 5.24% | 3.61% | 3.69% | 3.17% | 4.78% | 2.74% |
| Announcement Date | 4/23/19 | 4/30/20 | 4/23/21 | 4/22/22 | 4/21/23 | 4/26/24 | - | - |
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
D+
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -3.70% | 1.15B | |
| +1.20% | 26.02B | |
| +18.21% | 21.1B | |
| +35.90% | 12.23B | |
| -6.48% | 11.87B | |
| +12.25% | 10.97B | |
| +10.27% | 10.12B | |
| +2.68% | 8.57B | |
| +20.29% | 8.33B | |
| +23.08% | 6.96B |
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- Financials Tokyo Steel Manufacturing Co., Ltd.
