Financials Iriso Electronics Co., Ltd.

Equities

6908

JP3149800009

Electrical Components & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
3,060 ^JPY	+3.62%		+10.15%	-17.30%

2023	Iriso Electronics Co., Ltd. Reports Earnings Results for the Full Year Ended March 31, 2023	CI
2023	Poxel S.A. announced that it has received ?3.5 million in funding from Iriso Electronics Co., Ltd.	CI

Valuation

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	119,248	75,178	116,302	78,566	115,502	71,989	-	-
Enterprise Value (EV) ¹	104,292	61,782	102,440	64,910	99,354	58,302	59,340	59,897
P/E ratio	32.1 x	22.9 x	54.3 x	20.1 x	20.8 x	13.4 x	12.6 x	11.4 x
Yield	1.19%	1.57%	1.01%	1.8%	1.63%	2.89%	3.1%	3.27%
Capitalization / Revenue	2.78 x	1.9 x	3.18 x	1.79 x	2.18 x	1.33 x	1.25 x	1.17 x
EV / Revenue	2.43 x	1.56 x	2.81 x	1.48 x	1.88 x	1.07 x	1.03 x	0.97 x
EV / EBITDA	10.2 x	6.74 x	13.3 x	6.57 x	7.56 x	4.49 x	4.12 x	3.89 x
EV / FCF	72.1 x	178 x	55.1 x	147 x	-	4,485 x	12.6 x	14.5 x
FCF Yield	1.39%	0.56%	1.81%	0.68%	-	0.02%	7.96%	6.9%
Price to Book	2.34 x	1.47 x	2.14 x	1.28 x	1.71 x	1.02 x	0.96 x	0.91 x
Nbr of stocks (in thousands)	23,567	23,567	23,567	23,523	23,524	23,526	-	-
Reference price ²	5,060	3,190	4,935	3,340	4,910	3,060	3,060	3,060
Announcement Date	5/8/19	5/11/20	5/10/21	5/10/22	5/9/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	42,834	39,614	36,520	43,863	52,903	54,246	57,527	61,645
EBITDA ¹	10,200	9,163	7,689	9,876	13,138	12,976	14,396	15,417
EBIT ¹	6,084	4,628	2,900	4,520	6,940	6,436	7,664	8,650
Operating Margin	14.2%	11.68%	7.94%	10.3%	13.12%	11.87%	13.32%	14.03%
Earnings before Tax (EBT) ¹	6,173	4,339	2,788	4,570	7,034	6,811	7,364	8,030
Net income ¹	3,722	3,287	2,141	3,913	5,541	5,387	5,723	6,340
Net margin	8.69%	8.3%	5.86%	8.92%	10.47%	9.93%	9.95%	10.28%
EPS ²	157.7	139.5	90.89	166.2	235.6	228.0	242.7	269.5
Free Cash Flow ¹	1,446	348	1,859	443	-	13	4,722	4,134
FCF margin	3.38%	0.88%	5.09%	1.01%	-	0.02%	8.21%	6.71%
FCF Conversion (EBITDA)	14.18%	3.8%	24.18%	4.49%	-	0.1%	32.8%	26.81%
FCF Conversion (Net income)	38.85%	10.59%	86.83%	11.32%	-	0.24%	82.51%	65.21%
Dividend per Share ²	60.00	50.00	50.00	60.00	80.00	88.33	95.00	100.0
Announcement Date	5/8/19	5/11/20	5/10/21	5/10/22	5/9/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März	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 S2
Net sales ¹	20,064	19,550	15,069	21,451	10,792	21,978	10,446	11,439	21,885	11,929	13,614	25,543	13,976	13,384	27,360	12,496	15,644	28,140	13,000	13,134	26,360	13,224	13,744	28,000	14,519	29,800
EBITDA	-	4,698	-	5,271	-	-	-	-	4,832	-	-	-	-	-	6,974	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,381	2,247	173	2,727	1,262	2,526	861	1,133	1,994	1,398	1,665	3,063	2,179	1,698	3,877	967	2,348	3,315	1,477	1,638	3,235	1,500	1,600	3,400	1,700	3,900
Operating Margin	11.87%	11.49%	1.15%	12.71%	11.69%	11.49%	8.24%	9.9%	9.11%	11.72%	12.23%	11.99%	15.59%	12.69%	14.17%	7.74%	15.01%	11.78%	11.36%	12.47%	12.27%	11.34%	11.64%	12.14%	11.71%	13.09%
Earnings before Tax (EBT)	2,328	-	31	-	-	2,365	895	-	-	1,700	-	3,639	1,796	-	-	1,622	-	4,101	1,215	-	-	-	-	-	-	-
Net income	1,670	1,617	8	2,133	-	2,168	785	-	1,745	1,436	-	2,901	1,449	-	2,640	1,251	-	3,167	1,127	-	-	-	-	-	-	-
Net margin	8.32%	8.27%	0.05%	9.94%	-	9.86%	7.51%	-	7.97%	12.04%	-	11.36%	10.37%	-	9.65%	10.01%	-	11.25%	8.67%	-	-	-	-	-	-	-
EPS ²	70.88	-	0.3500	-	47.39	92.03	33.41	40.78	-	61.06	62.27	123.3	61.62	50.63	-	53.19	81.47	134.7	47.90	34.64	-	44.42	47.39	-	50.37	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/5/19	5/11/20	11/5/20	5/10/21	11/4/21	11/4/21	2/2/22	5/10/22	5/10/22	8/2/22	11/4/22	11/4/22	2/3/23	5/9/23	5/9/23	8/2/23	11/2/23	11/2/23	2/2/24	-	-	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	14,956	13,396	13,862	13,656	16,148	13,687	12,649	12,092
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	1,446	348	1,859	443	-	13	4,722	4,134
ROE (net income / shareholders' equity)	7.4%	6.4%	4.1%	6.8%	8.6%	7.91%	7.66%	7.96%
ROA (Net income/ Total Assets)	10.4%	7.65%	4.77%	7.06%	9.84%	-	-	-
Assets ¹	35,765	42,992	44,903	55,441	56,287	-	-	-
Book Value Per Share ²	2,165	2,173	2,306	2,608	2,866	3,009	3,173	3,364
Cash Flow per Share ²	332.0	332.0	294.0	394.0	498.0	503.0	548.0	-
Capex ¹	5,249	6,636	4,375	6,738	9,036	10,000	7,000	7,000
Capex / Sales	12.25%	16.75%	11.98%	15.36%	17.08%	18.43%	12.17%	11.36%
Announcement Date	5/8/19	5/11/20	5/10/21	5/10/22	5/9/23	-	-	-

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 Iriso Electronics Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3,060 JPY

Average target price

4,714 JPY

Spread / Average Target

+54.06%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electrical Component

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MPI CORPORATION	+84.83%	1.16B
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TOYO TANSO CO., LTD.	+61.96%	1.03B
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Electrical Component