BROTHER INDUSTRIES, LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,796 JPY | +0.43% |
|
+0.14% | +24.24% |
| Apr. 19 | Taiyo Pacific Partners Says it May Buy into Brother Bid for Niche Japanese Printer | CI |
| Apr. 19 | US fund Taiyo says it may buy into Brother bid for niche Japanese printer | RE |
Valuation
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 531,926 | 429,674 | 636,381 | 579,624 | 509,019 | 714,658 | - | - |
| Enterprise Value (EV) 1 | 489,596 | 356,986 | 502,836 | 452,535 | 416,533 | 714,658 | 714,658 | 714,658 |
| P/E ratio | 9.87 x | 8.67 x | 26 x | 9.52 x | 13 x | 13.3 x | 12.9 x | 12.3 x |
| Yield | 2.93% | 3.63% | 2.45% | 2.86% | 3.41% | 2.49% | 2.58% | 2.63% |
| Capitalization / Revenue | 0.78 x | 0.67 x | 1.01 x | 0.82 x | 0.62 x | 0.87 x | 0.85 x | 0.83 x |
| EV / Revenue | 0.78 x | 0.67 x | 1.01 x | 0.82 x | 0.62 x | 0.87 x | 0.85 x | 0.83 x |
| EV / EBITDA | 5.04 x | 4 x | 7.86 x | 4.67 x | 5.2 x | 5.9 x | 5.72 x | 5.51 x |
| EV / FCF | 11.5 x | 7.78 x | 7.78 x | 12.7 x | -28.7 x | 10.6 x | 15.2 x | 15.6 x |
| FCF Yield | 8.69% | 12.9% | 12.8% | 7.88% | -3.49% | 9.47% | 6.6% | 6.4% |
| Price to Book | 1.25 x | 1 x | 1.32 x | 1.03 x | 0.85 x | 1.09 x | 1.05 x | 0.99 x |
| Nbr of stocks (in thousands) | 259,730 | 259,779 | 259,853 | 259,108 | 255,532 | 255,600 | - | - |
| Reference price 2 | 2,048 | 1,654 | 2,449 | 2,237 | 1,992 | 2,796 | 2,796 | 2,796 |
| Announcement Date | 5/8/19 | 5/11/20 | 5/7/21 | 5/11/22 | 5/8/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 683,972 | 637,259 | 631,812 | 710,938 | 815,300 | 818,360 | 840,600 | 859,400 |
| EBITDA 1 | 105,599 | 107,526 | 80,983 | 124,201 | 97,953 | 121,067 | 124,967 | 129,700 |
| EBIT 1 | 71,925 | 67,329 | 42,731 | 85,501 | 55,400 | 74,540 | 77,480 | 81,160 |
| Operating Margin | 10.52% | 10.57% | 6.76% | 12.03% | 6.8% | 9.11% | 9.22% | 9.44% |
| Earnings before Tax (EBT) 1 | 72,274 | 67,046 | 42,944 | 86,429 | 57,000 | 74,575 | 77,250 | 82,225 |
| Net income 1 | 53,902 | 49,566 | 24,520 | 61,030 | 39,100 | 53,720 | 55,340 | 58,300 |
| Net margin | 7.88% | 7.78% | 3.88% | 8.58% | 4.8% | 6.56% | 6.58% | 6.78% |
| EPS 2 | 207.5 | 190.8 | 94.36 | 234.9 | 152.7 | 209.7 | 216.0 | 227.5 |
| Free Cash Flow 1 | 46,250 | 55,240 | 81,751 | 45,648 | -17,766 | 67,700 | 47,150 | 45,750 |
| FCF margin | 6.76% | 8.67% | 12.94% | 6.42% | -2.18% | 8.27% | 5.61% | 5.32% |
| FCF Conversion (EBITDA) | 43.8% | 51.37% | 100.95% | 36.75% | - | 55.92% | 37.73% | 35.27% |
| FCF Conversion (Net income) | 85.8% | 111.45% | 333.41% | 74.8% | - | 126.02% | 85.2% | 78.47% |
| Dividend per Share 2 | 60.00 | 60.00 | 60.00 | 64.00 | 68.00 | 69.60 | 72.00 | 73.50 |
| Announcement Date | 5/8/19 | 5/11/20 | 5/7/21 | 5/11/22 | 5/8/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: Maart | 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 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 318,487 | 318,772 | 290,062 | 341,750 | 176,504 | 350,517 | 184,457 | 175,964 | 360,421 | 199,734 | 196,932 | 396,666 | 216,800 | 201,800 | 418,634 | 200,400 | 199,225 | 399,632 | 213,100 | 206,578 | 417,168 | 200,950 | 205,000 | 219,000 | 208,000 |
| EBITDA | - | - | - | - | 34,263 | - | 34,592 | - | - | 35,011 | 22,914 | - | 32,539 | - | - | - | 29,353 | - | - | - | - | - | - | - | - |
| EBIT 1 | 36,526 | - | 32,518 | 10,213 | 24,717 | 51,178 | 24,842 | 9,481 | 34,323 | 25,018 | 12,449 | 37,467 | 21,500 | -3,600 | 17,933 | 22,000 | 17,702 | 39,727 | 21,400 | 14,606 | 34,773 | 22,000 | 20,000 | 22,500 | 16,500 |
| Operating Margin | 11.47% | - | 11.21% | 2.99% | 14% | 14.6% | 13.47% | 5.39% | 9.52% | 12.53% | 6.32% | 9.45% | 9.92% | -1.78% | 4.28% | 10.98% | 8.89% | 9.94% | 10.04% | 7.07% | 8.34% | 10.95% | 9.76% | 10.27% | 7.93% |
| Earnings before Tax (EBT) 1 | 36,368 | - | 32,643 | 10,301 | 24,841 | 51,576 | 25,199 | 9,654 | 34,853 | 25,297 | 12,911 | 38,208 | 21,900 | -3,200 | 18,792 | 22,700 | 18,347 | 40,999 | 22,300 | 10,286 | 32,601 | 22,000 | - | - | - |
| Net income 1 | 27,275 | - | 24,697 | - | 18,193 | 36,812 | 17,440 | 6,778 | 24,218 | 17,389 | 12,869 | 30,258 | 12,700 | -3,900 | 8,842 | 16,200 | 12,658 | 28,901 | 17,700 | 5,677 | 23,389 | 16,000 | - | - | - |
| Net margin | 8.56% | - | 8.51% | - | 10.31% | 10.5% | 9.45% | 3.85% | 6.72% | 8.71% | 6.53% | 7.63% | 5.86% | -1.93% | 2.11% | 8.08% | 6.35% | 7.23% | 8.31% | 2.75% | 5.61% | 7.96% | - | - | - |
| EPS 2 | 105.0 | - | 95.04 | -0.6800 | 69.99 | 141.6 | 67.09 | 26.19 | 93.28 | 67.60 | 50.40 | 118.0 | 49.79 | -15.12 | 34.67 | 63.55 | 49.53 | 113.1 | 69.30 | 22.00 | 90.50 | 61.90 | - | - | - |
| Dividend per Share | 30.00 | 30.00 | 27.00 | 33.00 | 30.00 | 30.00 | - | 34.00 | 34.00 | - | 34.00 | 34.00 | - | 34.00 | - | - | - | 34.00 | - | - | - | - | - | - | - |
| Announcement Date | 11/5/19 | 5/11/20 | 11/9/20 | 5/7/21 | 11/8/21 | 11/8/21 | 2/1/22 | 5/11/22 | 5/11/22 | 8/5/22 | 11/9/22 | 11/9/22 | 2/7/23 | 5/8/23 | 5/8/23 | 8/7/23 | 11/7/23 | 11/7/23 | 2/6/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | 42,330 | 72,688 | 133,545 | 127,089 | 92,486 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 46,250 | 55,240 | 81,751 | 45,648 | -17,766 | 67,700 | 47,150 | 45,750 |
| ROE (net income / shareholders' equity) | 13.1% | 11.6% | 5.4% | 11.7% | 6.8% | 8.52% | 8.18% | 8.37% |
| ROA (Net income/ Total Assets) | 10.2% | 9.31% | 5.82% | 11.1% | 6.86% | 6.1% | 6.1% | 6% |
| Assets 1 | 528,356 | 532,312 | 421,200 | 549,031 | 570,382 | 880,656 | 907,213 | 971,667 |
| Book Value Per Share 2 | 1,635 | 1,649 | 1,858 | 2,170 | 2,334 | 2,569 | 2,669 | 2,822 |
| Cash Flow per Share | 337.0 | 346.0 | 242.0 | 384.0 | 319.0 | - | - | - |
| Capex 1 | 27,030 | 32,508 | 27,514 | 41,875 | 54,987 | 50,000 | 56,000 | 55,000 |
| Capex / Sales | 3.95% | 5.1% | 4.35% | 5.89% | 6.74% | 6.11% | 6.66% | 6.4% |
| Announcement Date | 5/8/19 | 5/11/20 | 5/7/21 | 5/11/22 | 5/8/23 | - | - | - |
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
OUTPERFORM
Number of Analysts
5
Last Close Price
2,796
JPY
Average target price
2,590
JPY
Spread / Average Target
-7.37%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +24.24% | 4.54B | |
| +16.41% | 26.44B | |
| +23.59% | 5.15B | |
| +8.01% | 1.06B | |
| -16.19% | 1.08B | |
| -35.45% | 910M | |
| -6.14% | 734M | |
| +2.55% | 447M | |
| -18.64% | 315M | |
| +16.10% | 123M |
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- Financials Brother Industries, Ltd.
