Financials Japan Petroleum Exploration Co., Ltd.

Equities

1662

JP3421100003

Oil & Gas Exploration and Production

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
6,660 ^JPY	+1.99%		-0.45%	+27.10%

Apr. 01	Tranche Update on Japan Petroleum Exploration Co., Ltd.'s Equity Buyback Plan announced on November 10, 2023.	CI
Mar. 10	Japan boosts reliance on allies Australia, US for long-term LNG supplies	RE

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	136,938	101,560	117,289	143,842	242,121	354,134	-	-
Enterprise Value (EV) ¹	144,855	56,257	64,246	-5,659	47,675	213,678	254,294	256,099
P/E ratio	9.27 x	3.79 x	-43.1 x	-4.71 x	3.61 x	7.9 x	10.2 x	10.2 x
Yield	1.67%	2.81%	2.43%	1.94%	8.29%	3.83%	3%	2.97%
Capitalization / Revenue	0.51 x	0.32 x	0.49 x	0.58 x	0.72 x	1.07 x	0.97 x	0.97 x
EV / Revenue	0.54 x	0.18 x	0.27 x	-0.02 x	0.14 x	0.65 x	0.69 x	0.7 x
EV / EBITDA	5.66 x	1.43 x	2.4 x	-0.15 x	0.62 x	2.78 x	3.69 x	3.59 x
EV / FCF	7.22 x	1.1 x	1.75 x	-0.11 x	0.92 x	-855 x	10.1 x	5.33 x
FCF Yield	13.9%	91%	57.3%	-901%	109%	-0.12%	9.87%	18.8%
Price to Book	0.33 x	0.25 x	0.29 x	0.38 x	0.57 x	0.78 x	0.74 x	0.71 x
Nbr of stocks (in thousands)	57,153	57,152	57,075	55,948	54,226	53,173	-	-
Reference price ²	2,396	1,777	2,055	2,571	4,465	6,660	6,660	6,660
Announcement Date	5/10/19	5/14/20	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	267,980	318,822	240,078	249,140	336,492	329,900	366,025	364,850
EBITDA ¹	25,609	39,473	26,791	37,530	76,342	76,750	68,850	71,400
EBIT ¹	2,313	14,283	4,192	19,809	62,085	50,700	40,975	40,700
Operating Margin	0.86%	4.48%	1.75%	7.95%	18.45%	15.37%	11.19%	11.16%
Earnings before Tax (EBT) ¹	13,074	31,903	-7,322	-18,501	83,084	60,421	46,200	45,912
Net income ¹	14,770	26,815	-2,725	-30,988	67,394	44,650	33,950	33,800
Net margin	5.51%	8.41%	-1.14%	-12.44%	20.03%	13.53%	9.28%	9.26%
EPS ²	258.4	469.2	-47.73	-545.6	1,237	842.6	654.7	653.1
Free Cash Flow ¹	20,067	51,194	36,810	51,015	51,858	-250	25,100	48,067
FCF margin	7.49%	16.06%	15.33%	20.48%	15.41%	-0.08%	6.86%	13.17%
FCF Conversion (EBITDA)	78.36%	129.69%	137.4%	135.93%	67.93%	-	36.46%	67.32%
FCF Conversion (Net income)	135.86%	190.92%	-	-	76.95%	-	73.93%	142.21%
Dividend per Share ²	40.00	50.00	50.00	50.00	370.0	255.0	200.0	197.5
Announcement Date	5/10/19	5/14/20	5/13/21	5/13/22	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	162,346	98,127	68,424	118,507	52,857	77,776	58,617	62,091	120,708	104,397	111,387	61,321	89,387	150,708	79,230	103,131	83,350	72,600	83,200	111,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	7,730	-6,271	6,140	9,540	2,109	8,160	9,810	9,494	19,304	19,438	23,343	12,903	15,598	28,501	11,367	12,166	10,900	10,700	9,600	12,650
Operating Margin	4.76%	-6.39%	8.97%	8.05%	3.99%	10.49%	16.74%	15.29%	15.99%	18.62%	20.96%	21.04%	17.45%	18.91%	14.35%	11.8%	13.08%	14.74%	11.54%	11.4%
Earnings before Tax (EBT) ¹	13,617	-6,852	-	-119,315	46,711	54,103	22,598	20,470	43,068	14,783	25,233	18,209	20,912	39,121	9,020	14,538	12,100	12,650	10,400	15,000
Net income ¹	12,069	-6,975	-126,782	-119,676	34,619	54,069	15,640	15,790	31,430	11,856	24,108	12,999	14,771	27,770	8,745	9,392	9,000	9,400	7,750	11,200
Net margin	7.43%	-7.11%	-185.29%	-100.99%	65.5%	69.52%	26.68%	25.43%	26.04%	11.36%	21.64%	21.2%	16.52%	18.43%	11.04%	9.11%	10.8%	12.95%	9.31%	10.09%
EPS ²	211.2	-122.1	-	-2,097	605.1	946.0	283.7	290.2	573.9	219.1	443.6	239.7	272.4	512.1	161.8	303.5	149.8	156.5	115.6	223.5
Dividend per Share	25.00	25.00	-	25.00	-	-	-	-	150.0	-	-	-	-	125.0	-	-	-	-	-	-
Announcement Date	11/8/19	11/10/20	11/9/21	11/9/21	2/9/22	5/13/22	8/9/22	11/10/22	11/10/22	2/10/23	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	7,917	-	-	-	-	-	-	-
Net Cash position ¹	-	45,303	53,043	149,501	194,446	140,456	99,840	98,035
Leverage (Debt/EBITDA)	0.3091 x	-	-	-	-	-	-	-
Free Cash Flow ¹	20,067	51,194	36,810	51,015	51,858	-250	25,100	48,067
ROE (net income / shareholders' equity)	3.5%	6.5%	-0.68%	-8%	16.9%	10.3%	7.5%	7.12%
ROA (Net income/ Total Assets)	1.85%	5.09%	1.6%	7.96%	16%	8.6%	6.45%	6.15%
Assets ¹	798,961	526,859	-170,557	-389,080	421,616	519,186	526,357	549,593
Book Value Per Share ²	7,287	7,046	7,011	6,680	7,849	8,509	8,980	9,440
Cash Flow per Share	666.0	910.0	683.0	-234.0	1,498	-	-	-
Capex ¹	10,903	10,648	14,553	13,886	38,132	78,500	49,067	33,733
Capex / Sales	4.07%	3.34%	6.06%	5.57%	11.33%	23.8%	13.41%	9.25%
Announcement Date	5/10/19	5/14/20	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

Ratings for Japan Petroleum Exploration Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

6,660 JPY

Average target price

5,718 JPY

Spread / Average Target

-14.15%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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