UNICHARM CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5,300 JPY | +0.47% |
|
-0.02% | +3.96% |
| Jun. 26 | Unicharm Completes Acquisition of Treasury Shares Worth 5.86 Billion Yen | MT |
| Jun. 25 | Tranche Update on Unicharm Corporation's Equity Buyback Plan announced on February 7, 2024. | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,197,647 | 2,929,549 | 2,977,963 | 3,006,792 | 3,009,033 | 3,107,493 | - | - |
| Enterprise Value (EV) 1 | 2,106,726 | 2,763,204 | 2,708,978 | 2,726,211 | 2,677,383 | 2,830,527 | 2,772,760 | 2,708,902 |
| P/E ratio | 47.7 x | 55.8 x | 41 x | 44.6 x | 35.1 x | 32.7 x | 29.7 x | 27.1 x |
| Yield | 0.76% | 0.65% | 0.72% | 0.75% | 0.78% | 0.83% | 0.89% | 0.96% |
| Capitalization / Revenue | 3.08 x | 4.03 x | 3.8 x | 3.35 x | 3.2 x | 3.09 x | 2.91 x | 2.75 x |
| EV / Revenue | 2.95 x | 3.8 x | 3.46 x | 3.04 x | 2.84 x | 2.81 x | 2.59 x | 2.4 x |
| EV / EBITDA | 16.4 x | 18.3 x | 16.9 x | 16.9 x | 15.6 x | 14.9 x | 13.5 x | 12.4 x |
| EV / FCF | 72.9 x | 25 x | 39.4 x | 32 x | 23.1 x | 31.3 x | 26.2 x | 23.3 x |
| FCF Yield | 1.37% | 4% | 2.54% | 3.12% | 4.33% | 3.2% | 3.81% | 4.29% |
| Price to Book | 4.68 x | 5.95 x | 5.35 x | 4.86 x | 4.32 x | 4.24 x | 3.88 x | 3.55 x |
| Nbr of stocks (in thousands) | 593,959 | 598,845 | 595,712 | 593,290 | 590,238 | 586,319 | - | - |
| Reference price 2 | 3,700 | 4,892 | 4,999 | 5,068 | 5,098 | 5,300 | 5,300 | 5,300 |
| Announcement Date | 2/13/20 | 2/15/21 | 2/15/22 | 2/8/23 | 2/7/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 714,233 | 727,475 | 782,723 | 898,022 | 941,790 | 1,006,754 | 1,069,598 | 1,130,780 |
| EBITDA 1 | 128,455 | 150,909 | 160,408 | 161,052 | 171,227 | 189,591 | 204,717 | 218,562 |
| EBIT 1 | 89,779 | 114,744 | 122,482 | 119,566 | 127,974 | 146,798 | 161,236 | 174,567 |
| Operating Margin | 12.57% | 15.77% | 15.65% | 13.31% | 13.59% | 14.58% | 15.07% | 15.44% |
| Earnings before Tax (EBT) 1 | 69,538 | 95,849 | 121,977 | 115,708 | 132,308 | 149,870 | 163,838 | 178,120 |
| Net income 1 | 46,116 | 52,344 | 72,745 | 67,608 | 86,053 | 94,490 | 103,367 | 112,979 |
| Net margin | 6.46% | 7.2% | 9.29% | 7.53% | 9.14% | 9.39% | 9.66% | 9.99% |
| EPS 2 | 77.53 | 87.60 | 121.8 | 113.6 | 145.4 | 162.1 | 178.5 | 195.4 |
| Free Cash Flow 1 | 28,914 | 110,622 | 68,701 | 85,071 | 115,929 | 90,560 | 105,747 | 116,154 |
| FCF margin | 4.05% | 15.21% | 8.78% | 9.47% | 12.31% | 9% | 9.89% | 10.27% |
| FCF Conversion (EBITDA) | 22.51% | 73.3% | 42.83% | 52.82% | 67.7% | 47.77% | 51.66% | 53.14% |
| FCF Conversion (Net income) | 62.7% | 211.34% | 94.44% | 125.83% | 134.72% | 95.84% | 102.3% | 102.81% |
| Dividend per Share 2 | 28.00 | 32.00 | 36.00 | 38.00 | 40.00 | 43.80 | 47.40 | 51.00 |
| Announcement Date | 2/13/20 | 2/15/21 | 2/15/22 | 2/8/23 | 2/7/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 Q1 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 371,735 | 356,553 | 370,922 | 376,960 | 210,845 | 405,763 | 204,373 | 217,241 | 421,614 | 232,934 | 243,474 | 476,408 | 220,839 | 233,061 | 453,900 | 233,494 | 254,359 | 487,853 | 236,281 | 245,734 | 472,918 | 246,982 | 272,942 | 514,339 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 50,559 | 55,327 | 59,417 | 61,783 | 25,065 | 60,699 | 29,948 | 25,473 | 55,421 | 36,241 | 27,904 | 64,145 | 28,427 | 30,273 | 58,700 | 33,989 | 35,238 | - | 37,542 | 34,451 | 73,900 | 37,161 | 37,616 | 70,500 |
| Operating Margin | 13.6% | 15.52% | 16.02% | 16.39% | 11.89% | 14.96% | 14.65% | 11.73% | 13.14% | 15.56% | 11.46% | 13.46% | 12.87% | 12.99% | 12.93% | 14.56% | 13.85% | - | 15.89% | 14.02% | 15.63% | 15.05% | 13.78% | 13.71% |
| Earnings before Tax (EBT) 1 | 30,536 | 39,093 | 56,756 | 64,756 | 20,326 | 57,221 | 30,777 | 25,595 | 56,372 | 35,044 | 24,292 | - | 28,206 | 32,794 | 61,000 | 40,053 | 31,266 | - | 34,706 | 34,068 | - | 37,289 | 40,636 | - |
| Net income 1 | 20,818 | 19,278 | 33,129 | 39,963 | 10,797 | 32,782 | 16,826 | 14,938 | 31,764 | 20,710 | 15,134 | - | 16,516 | 18,184 | 34,700 | 26,326 | - | - | 17,829 | 20,784 | - | 23,950 | 29,964 | - |
| Net margin | 5.6% | 5.41% | 8.93% | 10.6% | 5.12% | 8.08% | 8.23% | 6.88% | 7.53% | 8.89% | 6.22% | - | 7.48% | 7.8% | 7.64% | 11.27% | - | - | 7.55% | 8.46% | - | 9.7% | 10.98% | - |
| EPS 2 | 35.02 | 32.30 | 55.30 | 66.77 | 18.14 | 55.01 | 28.22 | 25.04 | 53.26 | 34.84 | 25.51 | - | 27.84 | 30.63 | 58.47 | 44.52 | - | - | 30.21 | 37.69 | - | 41.61 | 53.33 | - |
| Dividend per Share | - | 16.00 | - | 18.00 | 18.00 | - | - | 19.00 | 19.00 | - | 19.00 | - | - | 20.00 | 20.00 | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/13/20 | 8/5/20 | 2/15/21 | 8/4/21 | 2/15/22 | 2/15/22 | 5/9/22 | 8/4/22 | 8/4/22 | 11/7/22 | 2/8/23 | 2/8/23 | 5/8/23 | 8/4/23 | 8/4/23 | 11/7/23 | 2/7/24 | 2/7/24 | 5/7/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 90,921 | 166,345 | 268,985 | 280,581 | 331,650 | 276,965 | 334,733 | 398,591 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 28,914 | 110,622 | 68,701 | 85,071 | 115,929 | 90,560 | 105,747 | 116,154 |
| ROE (net income / shareholders' equity) | 10.1% | 10.8% | 13.8% | 11.5% | 13.1% | 12.9% | 13.2% | 13.2% |
| ROA (Net income/ Total Assets) | 8.38% | 10.9% | 13% | 11.4% | 12.1% | 8.97% | 8.57% | 8.71% |
| Assets 1 | 550,266 | 479,870 | 560,918 | 595,071 | 709,860 | 1,053,387 | 1,206,131 | 1,296,641 |
| Book Value Per Share 2 | 791.0 | 822.0 | 935.0 | 1,043 | 1,179 | 1,250 | 1,365 | 1,494 |
| Cash Flow per Share 2 | 143.0 | 148.0 | 185.0 | 183.0 | 219.0 | 265.0 | 299.0 | 323.0 |
| Capex 1 | 56,022 | 39,632 | 36,552 | 42,627 | 46,486 | 44,175 | 45,650 | 46,063 |
| Capex / Sales | 7.84% | 5.45% | 4.67% | 4.75% | 4.94% | 4.39% | 4.27% | 4.07% |
| Announcement Date | 2/13/20 | 2/15/21 | 2/15/22 | 2/8/23 | 2/7/24 | - | - | - |
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
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
5,300
JPY
Average target price
5,827
JPY
Spread / Average Target
+9.94%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +3.96% | 19.68B | |
| +16.46% | 47.65B | |
| -13.60% | 3.66B | |
| +3.08% | 3.61B | |
| +54.42% | 1.39B | |
| -29.00% | 1.26B | |
| -0.24% | 813M | |
| +9.14% | 734M | |
| +24.29% | 433M | |
| -11.15% | 354M |
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