Financials H.U. Group Holdings, Inc.

Equities

4544

JP3822000000

Healthcare Facilities & Services

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-01 am EDT			5-day change	1st Jan Change
2,283 ^JPY	-4.97%		-4.76%	-14.29%

Apr. 26	H.U. Group Holdings, Inc. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024	CI
Apr. 26	H.U. Group Holdings, Inc. Announces Retirement of Atsuko Murakami as Executive Officer	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	156,406	129,800	211,857	165,227	151,722	136,508	-	-
Enterprise Value (EV) ¹	172,623	164,967	249,351	191,736	184,700	175,073	172,155	168,953
P/E ratio	24.5 x	-251 x	12.1 x	5.59 x	9.68 x	136 x	24 x	18.2 x
Yield	4.73%	5.71%	3.88%	4.3%	4.69%	5.2%	5.21%	5.22%
Capitalization / Revenue	0.86 x	0.69 x	0.95 x	0.61 x	0.58 x	0.58 x	0.56 x	0.54 x
EV / Revenue	0.95 x	0.87 x	1.12 x	0.7 x	0.71 x	0.74 x	0.7 x	0.66 x
EV / EBITDA	7.09 x	7.76 x	6.58 x	2.94 x	4.29 x	8.86 x	5.68 x	5.13 x
EV / FCF	-113 x	-45.8 x	34.1 x	7.87 x	62.6 x	45.8 x	14 x	12.2 x
FCF Yield	-0.88%	-2.18%	2.93%	12.7%	1.6%	2.18%	7.14%	8.2%
Price to Book	1.39 x	1.26 x	1.84 x	1.18 x	1.01 x	0.97 x	0.98 x	0.98 x
Nbr of stocks (in thousands)	56,958	56,980	57,027	56,877	56,910	56,819	-	-
Reference price ²	2,746	2,278	3,715	2,905	2,666	2,402	2,402	2,402
Announcement Date	5/14/19	5/13/20	5/14/21	5/12/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	181,415	188,712	223,016	272,944	260,908	236,950	244,663	254,200
EBITDA ¹	24,352	21,269	37,886	65,116	43,075	19,755	30,325	32,913
EBIT ¹	14,648	9,939	25,392	50,490	23,381	518.5	8,600	12,060
Operating Margin	8.07%	5.27%	11.39%	18.5%	8.96%	0.22%	3.52%	4.74%
Earnings before Tax (EBT) ¹	11,375	6,113	20,823	41,323	22,907	-2,600	3,800	8,900
Net income ¹	6,386	-516	17,468	29,599	15,676	1,005	5,694	8,100
Net margin	3.52%	-0.27%	7.83%	10.84%	6.01%	0.42%	2.33%	3.19%
EPS ²	111.9	-9.060	306.4	519.6	275.5	17.64	100.1	132.0
Free Cash Flow ¹	-1,524	-3,604	7,315	24,367	2,952	3,822	12,294	13,861
FCF margin	-0.84%	-1.91%	3.28%	8.93%	1.13%	1.61%	5.03%	5.45%
FCF Conversion (EBITDA)	-	-	19.31%	37.42%	6.85%	19.35%	40.54%	42.11%
FCF Conversion (Net income)	-	-	41.88%	82.32%	18.83%	380.39%	215.91%	171.12%
Dividend per Share ²	130.0	130.0	144.0	125.0	125.0	125.0	125.2	125.5
Announcement Date	5/14/19	5/13/20	5/14/21	5/12/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	93,480	98,566	70,247	133,739	64,142	75,063	65,331	68,750	134,081	66,882	59,945	56,620	59,923	116,543	60,968	59,489	59,200	59,900	60,500	59,400
EBITDA	-	-	-	-	-	-	-	13,855	-	11,242	4,947	-	5,270	-	-	-	-	-	-	-
EBIT ¹	5,758	8,146	14,724	26,951	9,220	14,319	8,580	9,104	17,684	5,966	-269	-1,711	142	-1,569	422	1,847	1,300	1,500	1,900	1,100
Operating Margin	6.16%	8.26%	20.96%	20.15%	14.37%	19.08%	13.13%	13.24%	13.19%	8.92%	-0.45%	-3.02%	0.24%	-1.35%	0.69%	3.1%	2.2%	2.5%	3.14%	1.85%
Earnings before Tax (EBT)	3,965	6,160	13,675	25,090	8,626	7,607	8,128	12,574	20,702	5,084	-2,879	-1,165	-425	-1,590	-1,646	-	-	-	-	-
Net income ¹	2,544	5,102	11,176	19,519	5,999	4,081	5,587	9,966	15,553	3,236	-3,113	-1,120	-702	-1,822	-1,523	1,244	700	900	800	800
Net margin	2.72%	5.18%	15.91%	14.59%	9.35%	5.44%	8.55%	14.5%	11.6%	4.84%	-5.19%	-1.98%	-1.17%	-1.56%	-2.5%	2.09%	1.18%	1.5%	1.32%	1.35%
EPS ²	44.67	89.52	-	342.2	105.4	-	98.25	-	273.4	56.84	-	-19.67	-12.33	-32.00	-26.78	30.66	-	-	-	-
Dividend per Share ²	65.00	50.00	-	62.00	-	-	-	-	62.00	-	-	-	62.00	62.00	-	63.00	-	62.50	-	62.50
Announcement Date	11/11/19	11/10/20	11/9/21	11/9/21	2/8/22	5/12/22	8/9/22	11/9/22	11/9/22	2/8/23	5/12/23	8/8/23	11/9/23	11/9/23	2/9/24	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	16,217	35,167	37,494	26,509	32,978	38,565	35,647	32,446
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.6659 x	1.653 x	0.9897 x	0.4071 x	0.7656 x	1.952 x	1.175 x	0.9858 x
Free Cash Flow ¹	-1,524	-3,604	7,315	24,367	2,952	3,822	12,294	13,861
ROE (net income / shareholders' equity)	5.7%	-0.5%	16%	23.2%	10.8%	0.73%	3.95%	5.67%
ROA (Net income/ Total Assets)	6.11%	3.08%	10.8%	17.6%	7.53%	-0.5%	1.3%	3.3%
Assets ¹	104,541	-16,779	161,984	168,317	208,151	-200,951	438,010	245,455
Book Value Per Share ²	1,980	1,809	2,020	2,463	2,635	2,469	2,440	2,448
Cash Flow per Share ²	264.0	174.0	518.0	775.0	618.0	478.0	496.0	525.0
Capex ¹	17,768	18,833	27,375	41,654	22,558	19,233	15,767	15,933
Capex / Sales	9.79%	9.98%	12.27%	15.26%	8.65%	8.12%	6.44%	6.27%
Announcement Date	5/14/19	5/13/20	5/14/21	5/12/22	5/12/23	-	-	-

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

Ratings for H.U. Group Holdings, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

2,402 JPY

Average target price

2,582 JPY

Spread / Average Target

+7.47%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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