CANON INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,214 JPY | +3.64% |
|
-3.15% | +16.41% |
| Apr. 25 | New ASML boss Fouquet must navigate US/China chip war | RE |
| Apr. 25 | Tech shares drag Japan's Nikkei lower | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,177,145 | 2,068,543 | 2,929,211 | 2,899,801 | 3,575,836 | 4,162,584 | - | - |
| Enterprise Value (EV) 1 | 3,161,938 | 2,057,857 | 2,749,080 | 2,944,208 | 3,588,005 | 4,047,216 | 3,918,629 | 3,856,814 |
| P/E ratio | 25.5 x | 24.9 x | 13.6 x | 12.1 x | 13.7 x | 13.8 x | 13.2 x | 12.9 x |
| Yield | 5.36% | 4.04% | 3.57% | 4.2% | 3.87% | 3.6% | 3.76% | 3.94% |
| Capitalization / Revenue | 0.88 x | 0.65 x | 0.83 x | 0.72 x | 0.86 x | 0.96 x | 0.95 x | 0.94 x |
| EV / Revenue | 0.88 x | 0.65 x | 0.78 x | 0.73 x | 0.86 x | 0.94 x | 0.9 x | 0.87 x |
| EV / EBITDA | 7.67 x | 6.08 x | 5.46 x | 5.08 x | 5.84 x | 6.15 x | 5.73 x | 5.49 x |
| EV / FCF | 24.3 x | 12 x | 10 x | 36 x | 20.4 x | 13.7 x | 12.3 x | 11.5 x |
| FCF Yield | 4.11% | 8.36% | 9.96% | 2.78% | 4.9% | 7.32% | 8.13% | 8.66% |
| Price to Book | 1.18 x | 0.8 x | 1.02 x | 0.93 x | 1.07 x | 1.19 x | 1.15 x | 1.1 x |
| Nbr of stocks (in thousands) | 1,063,836 | 1,045,775 | 1,045,773 | 1,015,514 | 987,800 | 987,799 | - | - |
| Reference price 2 | 2,986 | 1,978 | 2,801 | 2,856 | 3,620 | 4,214 | 4,214 | 4,214 |
| Announcement Date | 1/29/20 | 1/28/21 | 1/27/22 | 1/30/23 | 1/30/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,593,300 | 3,160,243 | 3,513,357 | 4,031,414 | 4,180,972 | 4,323,396 | 4,374,024 | 4,432,908 |
| EBITDA 1 | 412,000 | 338,372 | 503,164 | 579,891 | 614,042 | 658,584 | 684,153 | 702,793 |
| EBIT 1 | 174,700 | 110,547 | 281,918 | 353,399 | 375,366 | 420,774 | 435,235 | 443,228 |
| Operating Margin | 4.86% | 3.5% | 8.02% | 8.77% | 8.98% | 9.73% | 9.95% | 10% |
| Earnings before Tax (EBT) 1 | 195,700 | 130,280 | 302,706 | 352,440 | 390,767 | 438,764 | 452,803 | 463,844 |
| Net income 1 | 125,100 | 83,318 | 214,718 | 243,961 | 264,513 | 299,991 | 310,180 | 313,995 |
| Net margin | 3.48% | 2.64% | 6.11% | 6.05% | 6.33% | 6.94% | 7.09% | 7.08% |
| EPS 2 | 116.9 | 79.37 | 205.4 | 236.7 | 264.2 | 304.5 | 318.4 | 327.9 |
| Free Cash Flow 1 | 129,900 | 172,078 | 273,678 | 81,783 | 175,818 | 296,221 | 318,774 | 333,976 |
| FCF margin | 3.62% | 5.45% | 7.79% | 2.03% | 4.21% | 6.85% | 7.29% | 7.53% |
| FCF Conversion (EBITDA) | 31.53% | 50.85% | 54.39% | 14.1% | 28.63% | 44.98% | 46.59% | 47.52% |
| FCF Conversion (Net income) | 103.84% | 206.53% | 127.46% | 33.52% | 66.47% | 98.74% | 102.77% | 106.36% |
| Dividend per Share 2 | 160.0 | 80.00 | 100.0 | 120.0 | 140.0 | 151.5 | 158.6 | 166.0 |
| Announcement Date | 1/29/20 | 1/28/21 | 1/27/22 | 1/30/23 | 1/30/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q3 | 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 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,822,965 | 1,455,627 | 1,704,616 | 1,724,584 | 833,324 | 955,449 | 1,788,773 | 879,350 | 998,799 | 1,878,149 | 996,090 | 1,157,175 | 2,153,265 | 971,125 | 1,020,882 | 1,992,007 | 1,025,247 | 1,163,718 | 2,188,965 | 988,519 | 1,053,771 | 2,052,500 | 1,060,986 | 1,200,297 | 2,320,000 | 1,022,400 |
| EBITDA | - | - | - | - | 113,126 | 135,231 | - | 130,490 | 155,227 | - | 136,563 | 157,611 | - | 136,947 | 150,998 | - | 145,540 | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 91,145 | 15,122 | 95,425 | 147,833 | 58,728 | 75,357 | 134,085 | 76,140 | 98,475 | 174,615 | 81,440 | 97,344 | 178,784 | 84,475 | 92,274 | 176,749 | 82,624 | 115,993 | 198,617 | 80,083 | 99,486 | 187,500 | 101,757 | 126,160 | 238,000 | 87,100 |
| Operating Margin | 5% | 1.04% | 5.6% | 8.57% | 7.05% | 7.89% | 7.5% | 8.66% | 9.86% | 9.3% | 8.18% | 8.41% | 8.3% | 8.7% | 9.04% | 8.87% | 8.06% | 9.97% | 9.07% | 8.1% | 9.44% | 9.14% | 9.59% | 10.51% | 10.26% | 8.52% |
| Earnings before Tax (EBT) 1 | 98,552 | 27,288 | 102,992 | 151,821 | 79,326 | 71,559 | 150,885 | 67,697 | 85,196 | 152,893 | 79,076 | 120,471 | 199,547 | 87,534 | 101,128 | 188,662 | 87,320 | 114,785 | 202,105 | 89,222 | 103,000 | 324,000 | 96,500 | 139,000 | 251,000 | - |
| Net income 1 | 59,322 | 13,071 | 70,247 | 105,603 | 49,317 | 59,798 | 109,115 | 45,975 | 59,025 | 105,000 | 54,118 | 84,843 | 138,961 | 56,410 | 65,403 | 121,813 | 62,134 | 80,566 | 142,700 | 59,949 | 71,843 | 136,180 | 67,363 | 87,805 | 175,805 | 64,100 |
| Net margin | 3.25% | 0.9% | 4.12% | 6.12% | 5.92% | 6.26% | 6.1% | 5.23% | 5.91% | 5.59% | 5.43% | 7.33% | 6.45% | 5.81% | 6.41% | 6.12% | 6.06% | 6.92% | 6.52% | 6.06% | 6.82% | 6.63% | 6.35% | 7.32% | 7.58% | 6.27% |
| EPS 2 | 55.71 | 12.41 | 66.96 | 101.0 | 47.16 | 57.20 | 104.4 | 43.97 | 56.85 | 100.8 | 52.90 | 82.99 | 135.9 | 55.56 | 64.80 | 120.4 | 62.62 | 81.22 | 143.8 | 60.70 | 72.10 | 137.0 | 69.30 | 108.6 | 178.0 | - |
| Dividend per Share 2 | 80.00 | 40.00 | 40.00 | 45.00 | - | 55.00 | 55.00 | - | 60.00 | 60.00 | - | 60.00 | 60.00 | - | 70.00 | 70.00 | - | 70.00 | 70.00 | - | 80.00 | 80.00 | - | 80.00 | 80.00 | - |
| Announcement Date | 1/29/20 | 7/28/20 | 1/28/21 | 7/28/21 | 10/26/21 | 1/27/22 | 1/27/22 | 4/26/22 | 7/26/22 | 7/26/22 | 10/26/22 | 1/30/23 | 1/30/23 | 4/26/23 | 7/27/23 | 7/27/23 | 10/26/23 | 1/30/24 | 1/30/24 | 4/24/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 44,407 | 12,169 | - | - | - |
| Net Cash position 1 | 15,207 | 10,686 | 180,131 | - | - | 115,368 | 243,955 | 305,770 |
| Leverage (Debt/EBITDA) | - | - | - | 0.0766 x | 0.0198 x | - | - | - |
| Free Cash Flow 1 | 129,900 | 172,078 | 273,678 | 81,783 | 175,818 | 296,221 | 318,774 | 333,976 |
| ROE (net income / shareholders' equity) | 4.5% | 3.2% | 7.9% | 8.1% | 8.2% | 8.7% | 8.91% | 8.8% |
| ROA (Net income/ Total Assets) | 4.05% | 2.77% | 6.46% | 7.16% | 7.43% | 6.39% | 6.42% | 6.7% |
| Assets 1 | 3,089,415 | 3,003,858 | 3,325,512 | 3,407,871 | 3,557,860 | 4,694,114 | 4,832,223 | 4,689,466 |
| Book Value Per Share 2 | 2,531 | 2,463 | 2,748 | 3,066 | 3,395 | 3,543 | 3,660 | 3,847 |
| Cash Flow per Share 2 | 339.0 | 296.0 | 417.0 | 456.0 | 503.0 | 541.0 | 569.0 | 589.0 |
| Capex 1 | 178,100 | 161,727 | 179,000 | 183,291 | 231,725 | 231,617 | 234,883 | 239,325 |
| Capex / Sales | 4.96% | 5.12% | 5.09% | 4.55% | 5.54% | 5.36% | 5.37% | 5.4% |
| Announcement Date | 1/29/20 | 1/28/21 | 1/27/22 | 1/30/23 | 1/30/24 | - | - | - |
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
12
Last Close Price
4,214
JPY
Average target price
4,308
JPY
Spread / Average Target
+2.24%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +16.41% | 26.44B | |
| +23.59% | 5.15B | |
| +24.24% | 4.54B | |
| +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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