AEON MALL CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,800 JPY | +0.76% |
|
+3.90% | +1.58% |
| Apr. 16 | Aeon Reit Management Executes a Status Assignment Agreement for the Acquisition of AEON MALL Ota | MT |
| Apr. 10 | Aeon Mall's Attributable Profit Jumps 57% in Fiscal 2024 | MT |
Valuation
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 413,087 | 348,318 | 407,757 | 367,030 | 404,593 | 409,601 | - | - |
| Enterprise Value (EV) 1 | 863,239 | 575,905 | 1,007,626 | 1,037,473 | 1,134,680 | 397,996 | 1,161,647 | 1,249,684 |
| P/E ratio | 12.3 x | 10.2 x | -219 x | 19 x | 31.1 x | 19.5 x | 23.8 x | 15.8 x |
| Yield | 2.09% | 2.61% | 2.23% | 3.1% | 2.81% | 2.86% | 2.78% | 2.78% |
| Capitalization / Revenue | 1.32 x | 1.07 x | 1.45 x | 1.16 x | 1.02 x | 0.94 x | 0.92 x | 0.87 x |
| EV / Revenue | 2.76 x | 1.78 x | 3.59 x | 3.27 x | 2.85 x | 0.94 x | 2.62 x | 2.66 x |
| EV / EBITDA | 9.03 x | 4.89 x | 10.8 x | 10.2 x | 9.92 x | 3.33 x | 8.69 x | 8.54 x |
| EV / FCF | -10.1 x | 14.6 x | -42.6 x | -18.4 x | -635 x | -18.3 x | -129 x | -181 x |
| FCF Yield | -9.91% | 6.85% | -2.35% | -5.43% | -0.16% | -5.45% | -0.77% | -0.55% |
| Price to Book | 1.08 x | 0.88 x | 1.08 x | 0.88 x | 0.92 x | 0.86 x | 0.88 x | 0.84 x |
| Nbr of stocks (in thousands) | 227,471 | 227,510 | 227,543 | 227,545 | 227,555 | 227,556 | - | - |
| Reference price 2 | 1,816 | 1,531 | 1,792 | 1,613 | 1,778 | 1,800 | 1,800 | 1,800 |
| Announcement Date | 4/9/19 | 4/9/20 | 4/8/21 | 4/7/22 | 4/11/23 | 4/9/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 312,976 | 324,138 | 280,688 | 316,813 | 398,244 | 423,168 | 443,150 | 470,467 |
| EBITDA 1 | 95,627 | 117,652 | 92,980 | 101,963 | 114,401 | 119,668 | 133,666 | 146,403 |
| EBIT 1 | 52,987 | 60,794 | 34,394 | 38,228 | 43,979 | 46,411 | 53,755 | 60,853 |
| Operating Margin | 16.93% | 18.76% | 12.25% | 12.07% | 11.04% | 10.97% | 12.13% | 12.93% |
| Earnings before Tax (EBT) 1 | 47,683 | 54,019 | 4,268 | 26,149 | 24,592 | 36,374 | 32,468 | 43,927 |
| Net income 1 | 33,538 | 34,239 | -1,864 | 19,278 | 12,994 | 20,399 | 17,179 | 25,924 |
| Net margin | 10.72% | 10.56% | -0.66% | 6.08% | 3.26% | 4.82% | 3.88% | 5.51% |
| EPS 2 | 147.4 | 150.5 | -8.190 | 84.72 | 57.10 | 89.64 | 75.48 | 113.9 |
| Free Cash Flow 1 | -85,589 | 39,446 | -23,675 | -56,372 | -1,786 | -21,705 | -9,000 | -6,900 |
| FCF margin | -27.35% | 12.17% | -8.43% | -17.79% | -0.45% | -5.13% | -2.03% | -1.47% |
| FCF Conversion (EBITDA) | - | 33.53% | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | 115.21% | - | - | - | - | - | - |
| Dividend per Share 2 | 38.00 | 40.00 | 40.00 | 50.00 | 50.00 | 50.00 | 50.00 | 50.00 |
| Announcement Date | 4/9/19 | 4/9/20 | 4/8/21 | 4/7/22 | 4/11/23 | 4/9/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: February | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 161,070 | 163,068 | 126,050 | 154,638 | 77,894 | 154,101 | 79,185 | 83,527 | 162,712 | 96,167 | 97,937 | 194,104 | 100,496 | 103,644 | 204,140 | 105,529 | 105,278 | 210,807 | 103,052 | 109,309 | 212,361 | 108,100 | 108,900 | 219,500 | 105,350 | 114,100 | 221,800 |
| EBITDA | 57,585 | - | - | - | - | 50,764 | - | - | - | 29,886 | - | 57,272 | - | - | - | 31,922 | - | 60,745 | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 29,212 | 31,582 | 11,760 | 22,634 | 8,862 | 19,684 | 8,662 | 9,882 | 18,544 | 13,092 | 9,734 | 22,826 | 9,673 | 11,480 | 21,153 | 13,883 | 10,545 | 24,428 | 9,717 | 12,266 | 21,983 | 13,484 | 12,291 | 25,300 | 12,401 | 15,746 | 29,500 |
| Operating Margin | 18.14% | 19.37% | 9.33% | 14.64% | 11.38% | 12.77% | 10.94% | 11.83% | 11.4% | 13.61% | 9.94% | 11.76% | 9.63% | 11.08% | 10.36% | 13.16% | 10.02% | 11.59% | 9.43% | 11.22% | 10.35% | 12.47% | 11.29% | 11.53% | 11.77% | 13.8% | 13.3% |
| Earnings before Tax (EBT) | 25,524 | - | -11,630 | - | 6,796 | 13,803 | 6,339 | 6,007 | - | 10,029 | 2,346 | 12,375 | 5,557 | 6,660 | - | 10,462 | 8,025 | 18,487 | 7,341 | - | - | 10,200 | - | 18,100 | - | - | - |
| Net income 1 | 17,043 | 17,196 | -10,865 | 9,001 | 3,956 | 12,835 | 3,622 | 2,821 | 6,443 | 6,226 | 896 | 7,122 | 3,306 | 2,566 | 5,872 | 6,372 | 4,133 | 10,505 | 4,204 | 5,690 | 9,894 | 5,275 | 1,750 | 7,850 | 5,450 | 4,650 | 10,100 |
| Net margin | 10.58% | 10.55% | -8.62% | 5.82% | 5.08% | 8.33% | 4.57% | 3.38% | 3.96% | 6.47% | 0.91% | 3.67% | 3.29% | 2.48% | 2.88% | 6.04% | 3.93% | 4.98% | 4.08% | 5.21% | 4.66% | 4.88% | 1.61% | 3.58% | 5.17% | 4.08% | 4.55% |
| EPS 2 | 74.91 | - | -47.75 | - | 17.38 | 56.40 | 15.92 | 12.40 | - | 27.36 | 3.940 | 31.30 | 14.53 | 11.27 | - | 28.00 | 18.16 | 46.16 | 18.48 | 25.00 | - | 21.50 | 18.15 | 42.13 | 19.90 | 22.16 | - |
| Dividend per Share | 20.00 | - | 20.00 | - | - | 25.00 | - | - | - | - | - | 25.00 | - | - | - | - | - | 25.00 | - | - | - | - | - | 25.00 | - | - | - |
| Announcement Date | 10/8/19 | 4/9/20 | 10/6/20 | 4/8/21 | 10/5/21 | 10/5/21 | 1/11/22 | 4/7/22 | 4/7/22 | 7/5/22 | 10/4/22 | 10/4/22 | 1/12/23 | 4/11/23 | 4/11/23 | 7/11/23 | 10/10/23 | 10/10/23 | 1/11/24 | 4/9/24 | 4/9/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: February | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 450,152 | 227,587 | 599,869 | 670,443 | 730,087 | 639,838 | 752,046 | 840,083 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.707 x | 1.934 x | 6.452 x | 6.575 x | 6.382 x | 4.847 x | 5.626 x | 5.738 x |
| Free Cash Flow 1 | -85,589 | 39,446 | -23,675 | -56,372 | -1,786 | -21,705 | -9,000 | -6,900 |
| ROE (net income / shareholders' equity) | 8.9% | 8.8% | -0.5% | 4.9% | 3% | 4.5% | 4.06% | 5.67% |
| ROA (Net income/ Total Assets) | 2.88% | 4.34% | 2.48% | 2.28% | 2.41% | 2.31% | 2.08% | 2.35% |
| Assets 1 | 1,163,496 | 788,427 | -75,222 | 846,436 | 539,412 | 884,157 | 827,900 | 1,103,142 |
| Book Value Per Share 2 | 1,685 | 1,731 | 1,658 | 1,830 | 1,936 | 2,040 | 2,048 | 2,136 |
| Cash Flow per Share | 335.0 | 400.0 | 249.0 | 365.0 | 367.0 | 412.0 | - | - |
| Capex 1 | 207,522 | 94,199 | 85,296 | 129,308 | 117,452 | 148,010 | 116,909 | 184,800 |
| Capex / Sales | 66.31% | 29.06% | 30.39% | 40.82% | 29.49% | 34.98% | 26.38% | 39.28% |
| Announcement Date | 4/9/19 | 4/9/20 | 4/8/21 | 4/7/22 | 4/11/23 | 4/9/24 | - | - |
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
UNDERPERFORM
Number of Analysts
6
Last Close Price
1,800
JPY
Average target price
1,798
JPY
Spread / Average Target
-0.09%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +1.58% | 2.6B | |
| +3.68% | 10.49B | |
| +37.76% | 6.62B | |
| +21.03% | 3.18B | |
| +12.20% | 2.89B | |
| -15.55% | 2.73B | |
| -7.58% | 2.62B | |
| -19.21% | 2.31B | |
| -18.25% | 2.17B | |
| -3.65% | 2.01B |
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