ISUZU MOTORS LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,950 JPY | +0.52% |
|
+0.98% | +7.35% |
| Apr. 25 | Toyota pilots EV pickup trucks in key Thai market | RE |
| Mar. 25 | Chinese EV makers take centre stage at Bangkok motor show, to unveil new models | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,072,342 | 527,564 | 876,936 | 1,230,917 | 1,224,015 | 1,416,715 | - | - |
| Enterprise Value (EV) 1 | 1,030,404 | 520,957 | 768,305 | 1,380,709 | 1,353,571 | 1,543,643 | 1,440,599 | 1,413,728 |
| P/E ratio | 9.68 x | 6.49 x | 20.5 x | 9.75 x | 8.07 x | 8.47 x | 8.2 x | 7.57 x |
| Yield | 2.54% | 5.31% | 2.52% | 4.16% | 5% | 4.49% | 4.69% | 5.08% |
| Capitalization / Revenue | 0.5 x | 0.25 x | 0.46 x | 0.49 x | 0.38 x | 0.41 x | 0.41 x | 0.39 x |
| EV / Revenue | 0.48 x | 0.25 x | 0.4 x | 0.55 x | 0.42 x | 0.45 x | 0.42 x | 0.39 x |
| EV / EBITDA | 4.18 x | 2.4 x | 4.31 x | 4.84 x | 3.75 x | 4.04 x | 3.67 x | 3.38 x |
| EV / FCF | 14.7 x | 16.8 x | 5.93 x | -5.55 x | 9.24 x | 7.47 x | 9.48 x | 9.51 x |
| FCF Yield | 6.79% | 5.96% | 16.9% | -18% | 10.8% | 13.4% | 10.5% | 10.5% |
| Price to Book | 1.15 x | 0.55 x | 0.86 x | 1.03 x | 0.94 x | 1.05 x | 0.97 x | 0.9 x |
| Nbr of stocks (in thousands) | 737,512 | 737,543 | 737,541 | 775,137 | 775,183 | 726,707 | - | - |
| Reference price 2 | 1,454 | 715.3 | 1,189 | 1,588 | 1,579 | 1,950 | 1,950 | 1,950 |
| Announcement Date | 5/13/19 | 5/26/20 | 5/13/21 | 5/13/22 | 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 | 2,149,168 | 2,079,936 | 1,908,150 | 2,514,291 | 3,195,537 | 3,414,398 | 3,454,222 | 3,642,393 |
| EBITDA 1 | 246,757 | 216,795 | 178,266 | 285,532 | 360,801 | 381,998 | 392,348 | 418,852 |
| EBIT 1 | 176,781 | 140,582 | 95,732 | 187,197 | 253,546 | 290,877 | 291,622 | 311,843 |
| Operating Margin | 8.23% | 6.76% | 5.02% | 7.45% | 7.93% | 8.52% | 8.44% | 8.56% |
| Earnings before Tax (EBT) 1 | 186,108 | 143,511 | 86,829 | 204,281 | 269,841 | 301,021 | 305,584 | 328,876 |
| Net income 1 | 113,444 | 81,232 | 42,708 | 126,193 | 151,743 | 175,529 | 180,441 | 195,207 |
| Net margin | 5.28% | 3.91% | 2.24% | 5.02% | 4.75% | 5.14% | 5.22% | 5.36% |
| EPS 2 | 150.2 | 110.1 | 57.91 | 162.9 | 195.8 | 230.2 | 237.8 | 257.4 |
| Free Cash Flow 1 | 69,977 | 31,042 | 129,505 | -248,811 | 146,558 | 206,661 | 151,966 | 148,668 |
| FCF margin | 3.26% | 1.49% | 6.79% | -9.9% | 4.59% | 6.05% | 4.4% | 4.08% |
| FCF Conversion (EBITDA) | 28.36% | 14.32% | 72.65% | - | 40.62% | 54.1% | 38.73% | 35.49% |
| FCF Conversion (Net income) | 61.68% | 38.21% | 303.23% | - | 96.58% | 117.74% | 84.22% | 76.16% |
| Dividend per Share 2 | 37.00 | 38.00 | 30.00 | 66.00 | 79.00 | 87.50 | 91.42 | 99.00 |
| Announcement Date | 5/13/19 | 5/26/20 | 5/13/21 | 5/13/22 | 5/12/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 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 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,020,115 | 1,059,821 | 792,862 | 1,115,288 | 615,442 | 1,145,050 | 638,751 | 730,490 | 1,369,241 | 688,201 | 805,131 | 1,493,332 | 850,652 | 851,553 | 1,702,205 | 775,466 | 862,513 | 1,637,979 | 903,500 | 882,708 | 1,802,763 | 769,569 | 862,238 | 1,631,650 | 840,313 | 956,470 | 1,826,281 | 1,663,315 | 1,864,837 |
| EBITDA 1 | - | - | - | - | 67,765 | - | 79,830 | 64,504 | - | 80,280 | 84,117 | - | - | - | - | 95,803 | 103,085 | - | - | -21,085 | - | 93,696 | 107,271 | - | 107,767 | 101,544 | - | - | - |
| EBIT 1 | 71,351 | 69,231 | 16,795 | 78,937 | 37,958 | 97,294 | 51,322 | 38,581 | 89,903 | 54,771 | 57,423 | 112,194 | 85,691 | 55,661 | 141,352 | 68,606 | 74,589 | 143,195 | 110,400 | 37,940 | 152,022 | 82,498 | 77,688 | 193,838 | 86,674 | 56,538 | 126,579 | 180,128 | 109,914 |
| Operating Margin | 6.99% | 6.53% | 2.12% | 7.08% | 6.17% | 8.5% | 8.03% | 5.28% | 6.57% | 7.96% | 7.13% | 7.51% | 10.07% | 6.54% | 8.3% | 8.85% | 8.65% | 8.74% | 12.22% | 4.3% | 8.43% | 10.72% | 9.01% | 11.88% | 10.31% | 5.91% | 6.93% | 10.83% | 5.89% |
| Earnings before Tax (EBT) 1 | 72,484 | 71,027 | 13,396 | 73,433 | 43,897 | 105,716 | 53,402 | 45,163 | - | 58,368 | 67,615 | 125,983 | 85,746 | 58,112 | 143,858 | 72,542 | 83,359 | 155,901 | 111,385 | 37,286 | 148,480 | 92,259 | 80,749 | 203,716 | 93,259 | 46,699 | 127,716 | 188,785 | 109,870 |
| Net income 1 | 39,832 | - | -1,743 | 44,451 | 24,713 | 71,142 | 33,527 | 21,524 | 55,051 | 36,051 | 36,945 | 72,996 | 52,855 | 25,892 | - | 45,041 | 43,067 | 88,108 | 71,300 | -2,183 | 87,000 | 40,762 | 45,076 | - | 51,346 | 36,915 | - | - | - |
| Net margin | 3.9% | - | -0.22% | 3.99% | 4.02% | 6.21% | 5.25% | 2.95% | 4.02% | 5.24% | 4.59% | 4.89% | 6.21% | 3.04% | - | 5.81% | 4.99% | 5.38% | 7.89% | -0.25% | 4.83% | 5.3% | 5.23% | - | 6.11% | 3.86% | - | - | - |
| EPS 2 | 54.01 | 56.13 | -2.360 | 60.27 | 31.82 | 91.87 | 43.24 | 27.76 | 71.00 | 46.51 | 47.66 | 94.17 | 68.18 | 33.40 | 101.6 | 58.11 | 55.55 | 113.7 | 92.65 | -32.31 | 124.4 | 69.91 | 69.23 | 161.3 | 68.05 | 40.09 | 100.2 | 149.2 | 86.16 |
| Dividend per Share 2 | 19.00 | - | 10.00 | - | 29.00 | 29.00 | - | 37.00 | - | - | 36.00 | 36.00 | - | 43.00 | - | - | 43.00 | 43.00 | - | 59.00 | - | - | 46.00 | - | - | 47.00 | - | - | - |
| Announcement Date | 11/8/19 | 5/26/20 | 11/6/20 | 5/13/21 | 11/8/21 | 11/8/21 | 2/10/22 | 5/13/22 | 5/13/22 | 8/5/22 | 11/9/22 | 11/9/22 | 2/9/23 | 5/12/23 | 5/12/23 | 8/9/23 | 11/10/23 | 11/10/23 | 2/9/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 149,792 | 129,556 | 126,928 | 23,884 | - |
| Net Cash position 1 | 41,938 | 6,607 | 108,631 | - | - | - | - | 2,987 |
| Leverage (Debt/EBITDA) | - | - | - | 0.5246 x | 0.3591 x | 0.3323 x | 0.0609 x | - |
| Free Cash Flow 1 | 69,977 | 31,042 | 129,505 | -248,811 | 146,558 | 206,661 | 151,966 | 148,668 |
| ROE (net income / shareholders' equity) | 12.3% | 8.6% | 4.3% | 11.4% | 12.1% | 13% | 12.3% | 12.3% |
| ROA (Net income/ Total Assets) | 9% | 7.05% | 4.74% | 8.17% | 9.14% | 8.03% | 7.94% | 8.23% |
| Assets 1 | 1,260,006 | 1,152,984 | 900,540 | 1,544,399 | 1,659,540 | 2,185,339 | 2,272,209 | 2,372,669 |
| Book Value Per Share 2 | 1,261 | 1,292 | 1,385 | 1,541 | 1,688 | 1,864 | 2,008 | 2,166 |
| Cash Flow per Share 2 | 243.0 | 213.0 | 170.0 | 290.0 | 334.0 | 329.0 | 387.0 | 407.0 |
| Capex 1 | 94,768 | 103,467 | 97,891 | 100,325 | 82,200 | 142,977 | 143,167 | 149,333 |
| Capex / Sales | 4.41% | 4.97% | 5.13% | 3.99% | 2.57% | 4.19% | 4.14% | 4.1% |
| Announcement Date | 5/13/19 | 5/26/20 | 5/13/21 | 5/13/22 | 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
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
1,950
JPY
Average target price
2,252
JPY
Spread / Average Target
+15.54%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +7.35% | 9.34B | |
| +35.50% | 303B | |
| +18.88% | 81.14B | |
| +5.58% | 70.87B | |
| +19.41% | 54.14B | |
| +4.92% | 52.06B | |
| +27.62% | 52.02B | |
| +28.00% | 44.03B | |
| +22.60% | 39.58B | |
| +18.24% | 28.03B |
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