Financials EnerSys

Equities

ENS

US29275Y1029

Electrical Components & Equipment

Market Closed - Nyse Other stock markets 04:00:02 2024-04-26 pm EDT			5-day change	1st Jan Change
91.28 ^USD	+0.32%		+0.86%	-9.59%

Apr. 01	Enersys Promotes Mark Matthews to the Role of President, Specialty Global	CI
Feb. 14	Enersys Selects South Carolina for New Lithium Battery Gigafactory	MT

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,805	2,095	3,876	3,065	3,549	3,689	-	-
Enterprise Value (EV) ¹	3,542	2,920	4,429	3,961	3,549	3,689	3,689	3,689
P/E ratio	17.5 x	15.5 x	27.3 x	22.2 x	20.4 x	13.1 x	11.6 x	11.1 x
Yield	1.07%	1.41%	0.77%	0.94%	0.81%	0.93%	0.99%	0.99%
Capitalization / Revenue	1 x	0.68 x	1.3 x	0.91 x	0.96 x	1.04 x	1.02 x	0.99 x
EV / Revenue	1 x	0.68 x	1.3 x	0.91 x	0.96 x	1.04 x	1.02 x	0.99 x
EV / EBITDA	8.04 x	5.59 x	10.2 x	9.03 x	9.16 x	7.22 x	7.24 x	7 x
EV / FCF	22 x	13.8 x	13.4 x	-21.9 x	18.6 x	16 x	10.5 x	11 x
FCF Yield	4.54%	7.25%	7.44%	-4.56%	5.39%	6.24%	9.51%	9.09%
Price to Book	2.17 x	1.61 x	2.52 x	2.05 x	2.22 x	2.11 x	1.8 x	1.54 x
Nbr of stocks (in thousands)	43,049	42,309	42,687	41,099	40,851	40,416	-	-
Reference price ²	65.16	49.52	90.80	74.57	86.88	91.28	91.28	91.28
Announcement Date	5/29/19	6/1/20	5/20/21	5/25/22	5/24/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,808	3,088	2,978	3,357	3,708	3,563	3,610	3,741
EBITDA ¹	348.9	374.6	378.3	339.5	387.5	510.8	509.9	527
EBIT ¹	285.6	287.3	284.2	263.6	322.2	412.1	415.6	421.2
Operating Margin	10.17%	9.3%	9.54%	7.85%	8.69%	11.57%	11.51%	11.26%
Earnings before Tax (EBT) ¹	182.1	146.9	170.1	173.9	210.6	320.7	366.3	396.2
Net income ¹	160.2	137.1	143.3	143.9	175.8	288.4	323.8	338.9
Net margin	5.71%	4.44%	4.81%	4.29%	4.74%	8.09%	8.97%	9.06%
EPS ²	3.730	3.200	3.320	3.360	4.250	6.954	7.858	8.225
Free Cash Flow ¹	127.5	152	288.4	-139.6	191.2	230.2	350.8	335.3
FCF margin	4.54%	4.92%	9.68%	-4.16%	5.15%	6.46%	9.72%	8.96%
FCF Conversion (EBITDA)	36.53%	40.56%	76.23%	-	49.33%	45.07%	68.8%	63.62%
FCF Conversion (Net income)	79.58%	110.85%	201.22%	-	108.74%	79.85%	108.36%	98.94%
Dividend per Share ²	0.7000	0.7000	0.7000	0.7000	0.7000	0.8500	0.9000	0.9000
Announcement Date	5/29/19	6/1/20	5/20/21	5/25/22	5/24/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	791.4	844	907	899	899.4	920.2	989.9	908.6	901	861.5	892.9	870.9	889.9	904.8	943.7
EBITDA ¹	85.31	84.28	87.8	85.5	85.7	98.1	118.2	122.2	116.4	144.3	125	122.6	126.5	133.2	137.6
EBIT ¹	61.4	60.3	66.8	64.8	65.4	84.9	107.1	107.2	103.5	130.3	100.3	100.8	103.9	104.9	108.8
Operating Margin	7.76%	7.14%	7.36%	7.21%	7.27%	9.23%	10.82%	11.8%	11.49%	15.12%	11.23%	11.57%	11.68%	11.59%	11.53%
Earnings before Tax (EBT) ¹	39.9	42.8	38.9	36.8	40.3	57.8	75.7	73.5	73.4	78.7	85.8	84.97	88.8	93.23	98.5
Net income ¹	35.6	36.3	28.1	31	34.5	44.4	65.9	66.8	65.2	76.2	77.3	76.87	80.2	84.13	88.73
Net margin	4.5%	4.3%	3.1%	3.45%	3.84%	4.83%	6.66%	7.35%	7.24%	8.85%	8.66%	8.83%	9.01%	9.3%	9.4%
EPS ²	0.8200	0.8500	0.6700	0.7500	0.8400	1.080	1.590	1.600	1.560	1.860	1.888	1.877	1.957	2.053	2.170
Dividend per Share ²	0.1750	0.1750	0.1750	0.1750	0.1750	0.1750	0.1750	0.1750	0.2250	0.2250	0.2300	0.2300	0.2300	0.2300	0.2300
Announcement Date	11/10/21	2/9/22	5/25/22	8/10/22	11/9/22	2/8/23	5/24/23	8/9/23	11/8/23	2/7/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	737	825	553	896	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.113 x	2.202 x	1.461 x	2.639 x	-	-	-	-
Free Cash Flow ¹	127	152	288	-140	191	230	351	335
ROE (net income / shareholders' equity)	12.5%	15.5%	10.1%	12.6%	14.3%	16.3%	15.2%	14.7%
ROA (Net income/ Total Assets)	5.1%	6.25%	5.74%	5.31%	6.01%	7.9%	8.2%	8.5%
Assets ¹	3,141	2,194	2,497	2,712	2,927	3,650	3,948	3,987
Book Value Per Share ²	30.10	30.70	36.00	36.30	39.10	43.20	50.80	59.20
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	70.4	101	70	74	88.8	97.1	104	105
Capex / Sales	2.51%	3.28%	2.35%	2.21%	2.39%	2.73%	2.87%	2.79%
Announcement Date	5/29/19	6/1/20	5/20/21	5/25/22	5/24/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for EnerSys

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

91.28 USD

Average target price

103.7 USD

Spread / Average Target

+13.57%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Batteries & Uninterruptable Power Supplies

	1st Jan change	Capi.
ENERSYS	-9.59%	3.69B
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED	+21.57%	120B
LG ENERGY SOLUTION, LTD.	-12.98%	63.24B
SAMSUNG SDI CO., LTD.	-13.45%	19.67B
TDK CORPORATION	+8.86%	17.62B
ECOPRO BM. CO., LTD.	-18.06%	16.74B
EVE ENERGY CO., LTD.	-14.00%	10.22B
GOTION HIGH-TECH CO.,LTD.	-15.30%	4.48B
VOLTRONIC POWER TECHNOLOGY CORP.	-12.28%	4.03B
TIANNENG BATTERY GROUP CO., LTD.	+7.52%	4.03B

Batteries & Uninterruptable Power Supplies