ADVANTEST CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5,389 JPY | +0.88% |
|
-1.73% | +12.34% |
| Apr. 26 | Transcript : Advantest Corporation, 2024 Earnings Call, Apr 26, 2024 | |
| Apr. 26 | Japan's Advantest warns of uncertain market recovery as profit halves | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 498,770 | 860,935 | 1,899,395 | 1,859,608 | 2,237,070 | 3,978,029 | - | - |
| Enterprise Value (EV) 1 | 378,827 | 744,520 | 1,762,081 | 1,786,489 | 2,202,377 | 5,033,620 | 3,862,941 | 3,820,630 |
| P/E ratio | 8.51 x | 16.1 x | 27.4 x | 21.5 x | 17.4 x | 80.7 x | 42.1 x | 27.5 x |
| Yield | 3.58% | 1.89% | 1.22% | 1.24% | 1.11% | 0.69% | 0.84% | 1.2% |
| Capitalization / Revenue | 1.77 x | 3.12 x | 6.07 x | 4.46 x | 3.99 x | 10.3 x | 7.15 x | 5.98 x |
| EV / Revenue | 1.34 x | 2.7 x | 5.63 x | 4.29 x | 3.93 x | 10.3 x | 6.94 x | 5.75 x |
| EV / EBITDA | 5.44 x | 10.7 x | 21.4 x | 13.8 x | 11.6 x | 46.7 x | 26.1 x | 17.8 x |
| EV / FCF | 13.1 x | 26.9 x | 31.8 x | 55.9 x | 50.6 x | 54.5 x | 50 x | 36.4 x |
| FCF Yield | 7.62% | 3.71% | 3.14% | 1.79% | 1.98% | 1.83% | 2% | 2.75% |
| Price to Book | 2.56 x | 3.72 x | 6.78 x | 6.23 x | 6.07 x | 11.7 x | 8.54 x | 7.46 x |
| Nbr of stocks (in thousands) | 775,390 | 793,488 | 784,874 | 769,228 | 735,878 | 738,176 | - | - |
| Reference price 2 | 643.2 | 1,085 | 2,420 | 2,418 | 3,040 | 5,389 | 5,389 | 5,389 |
| Announcement Date | 4/25/19 | 4/24/20 | 4/27/21 | 4/27/22 | 4/26/23 | 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 | 282,456 | 275,894 | 312,789 | 416,901 | 560,191 | 486,507 | 556,503 | 664,679 |
| EBITDA 1 | 69,629 | 69,600 | 82,482 | 129,702 | 189,083 | 107,732 | 147,975 | 214,251 |
| EBIT 1 | 64,662 | 58,708 | 70,726 | 114,734 | 167,687 | 81,628 | 124,470 | 190,225 |
| Operating Margin | 22.89% | 21.28% | 22.61% | 27.52% | 29.93% | 16.78% | 22.37% | 28.62% |
| Earnings before Tax (EBT) 1 | 66,211 | 58,574 | 69,618 | 116,343 | 171,270 | 78,170 | 126,157 | 191,678 |
| Net income 1 | 56,993 | 53,532 | 69,787 | 87,301 | 130,400 | 62,290 | 95,902 | 145,560 |
| Net margin | 20.18% | 19.4% | 22.31% | 20.94% | 23.28% | 12.8% | 17.23% | 21.9% |
| EPS 2 | 75.59 | 67.53 | 88.47 | 112.4 | 174.4 | 84.45 | 127.9 | 195.9 |
| Free Cash Flow 1 | 28,877 | 27,656 | 55,415 | 31,982 | 43,518 | 71,433 | 77,274 | 104,936 |
| FCF margin | 10.22% | 10.02% | 17.72% | 7.67% | 7.77% | 14.82% | 13.89% | 15.79% |
| FCF Conversion (EBITDA) | 41.47% | 39.74% | 67.18% | 24.66% | 23.02% | 63.79% | 52.22% | 48.98% |
| FCF Conversion (Net income) | 50.67% | 51.66% | 79.41% | 36.63% | 33.37% | 107.36% | 80.58% | 72.09% |
| Dividend per Share 2 | 23.00 | 20.50 | 29.50 | 30.00 | 33.75 | 37.04 | 45.01 | 64.82 |
| Announcement Date | 4/25/19 | 4/24/20 | 4/27/21 | 4/27/22 | 4/26/23 | 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 | 137,751 | 138,143 | 144,102 | 168,687 | 90,874 | 187,990 | 112,077 | 116,834 | 228,911 | 135,943 | 138,863 | 274,806 | 137,993 | 147,392 | 285,385 | 101,251 | 116,260 | 217,511 | 133,233 | 135,763 | 268,996 | 125,131 | 131,968 | 274,000 | 146,185 | 150,523 | 298,000 | - | - |
| EBITDA 1 | - | - | - | - | 24,905 | - | 37,494 | 37,781 | - | 49,704 | 48,115 | - | 46,583 | 45,008 | - | 20,292 | 27,469 | - | 33,470 | 26,501 | - | 28,577 | 34,561 | - | 44,005 | - | - | - | - |
| EBIT 1 | 32,878 | 25,830 | 30,937 | 39,789 | 21,351 | 47,476 | 33,566 | 33,692 | 67,052 | 44,783 | 43,133 | 87,916 | 41,224 | 38,874 | 79,771 | 14,269 | 21,000 | 35,269 | 26,830 | 19,529 | 46,359 | 22,163 | 24,865 | - | 35,051 | 34,800 | - | - | - |
| Operating Margin | 23.87% | 18.7% | 21.47% | 23.59% | 23.5% | 25.25% | 29.95% | 28.84% | 29.29% | 32.94% | 31.06% | 31.99% | 29.87% | 26.37% | 27.95% | 14.09% | 18.06% | 16.21% | 20.14% | 14.38% | 17.23% | 17.71% | 18.84% | - | 23.98% | 23.12% | - | - | - |
| Earnings before Tax (EBT) 1 | 33,279 | 25,295 | 29,320 | 40,298 | 21,519 | 47,260 | 34,075 | 35,008 | 69,083 | 48,416 | 46,831 | 95,247 | 37,611 | 38,412 | 76,023 | 12,961 | 20,356 | 33,317 | 26,250 | 18,603 | 44,853 | 20,600 | 22,000 | - | 37,200 | 38,900 | - | - | - |
| Net income 1 | 26,772 | 26,760 | 24,491 | 45,296 | 15,902 | 35,246 | 25,647 | 26,408 | 52,055 | 36,496 | 34,665 | 71,161 | 28,645 | 30,594 | 59,239 | 9,202 | 16,736 | 25,938 | 21,205 | 15,147 | 36,352 | 16,420 | 18,639 | - | 28,963 | 28,838 | - | - | - |
| Net margin | 19.44% | 19.37% | 17% | 26.85% | 17.5% | 18.75% | 22.88% | 22.6% | 22.74% | 26.85% | 24.96% | 25.89% | 20.76% | 20.76% | 20.76% | 9.09% | 14.4% | 11.92% | 15.92% | 11.16% | 13.51% | 13.12% | 14.12% | - | 19.81% | 19.16% | - | - | - |
| EPS 2 | 33.80 | 33.73 | 30.90 | 57.56 | 20.27 | 44.88 | 33.02 | 34.48 | 67.51 | 48.04 | 45.84 | 93.88 | 38.87 | 41.60 | 80.48 | 12.49 | 22.69 | 35.18 | 28.74 | 20.53 | 49.27 | 24.12 | 26.66 | - | 38.69 | 43.17 | - | - | - |
| Dividend per Share 2 | 10.25 | 10.25 | 9.500 | 20.00 | 12.50 | 12.50 | - | 17.50 | 17.50 | - | 16.25 | 16.25 | - | - | 17.50 | - | 16.25 | 16.25 | - | 18.46 | 27.80 | - | 22.72 | 17.25 | - | 25.22 | 20.75 | 20.00 | 34.00 |
| Announcement Date | 10/30/19 | 4/24/20 | 10/29/20 | 4/27/21 | 10/28/21 | 10/28/21 | 1/27/22 | 4/27/22 | 4/27/22 | 7/28/22 | 10/27/22 | 10/27/22 | 1/31/23 | 4/26/23 | 4/26/23 | 7/26/23 | 10/31/23 | 10/31/23 | 1/31/24 | 4/26/24 | 4/26/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 119,943 | 116,415 | 137,314 | 73,119 | 34,693 | 84,692 | 115,088 | 144,166 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 28,877 | 27,656 | 55,415 | 31,982 | 43,518 | 71,433 | 77,274 | 104,936 |
| ROE (net income / shareholders' equity) | 35.3% | 24.9% | 27.3% | 30.4% | 39.3% | 15.6% | 23.2% | 30.1% |
| ROA (Net income/ Total Assets) | 23.7% | 17.7% | 17.9% | 25.4% | 31.3% | 12.3% | 16.2% | 22.4% |
| Assets 1 | 240,647 | 301,757 | 390,154 | 344,174 | 416,820 | 506,581 | 567,924 | 642,455 |
| Book Value Per Share 2 | 251.0 | 292.0 | 357.0 | 388.0 | 501.0 | 584.0 | 634.0 | 723.0 |
| Cash Flow per Share 2 | 82.20 | 81.30 | 103.0 | 132.0 | 203.0 | 120.0 | 122.0 | 185.0 |
| Capex 1 | 5,891 | 8,141 | 12,415 | 17,158 | 22,535 | 20,800 | 22,000 | 24,983 |
| Capex / Sales | 2.09% | 2.95% | 3.97% | 4.12% | 4.02% | 4.31% | 3.97% | 3.76% |
| Announcement Date | 4/25/19 | 4/24/20 | 4/27/21 | 4/27/22 | 4/26/23 | 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
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
5,389
JPY
Average target price
6,878
JPY
Spread / Average Target
+27.63%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +12.34% | 25.27B | |
| +21.50% | 95.51B | |
| -8.31% | 19.53B | |
| -8.65% | 4.41B | |
| +12.49% | 3.58B | |
| -7.63% | 3.48B | |
| -22.90% | 2.53B | |
| -0.12% | 1.19B | |
| +4.73% | 1.13B | |
| +9.66% | 1.01B |
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- Financials Advantest Corporation
