Financials JCU Corporation

Equities

4975

JP3166200000

Specialty Chemicals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-17 am EDT			5-day change	1st Jan Change
3,725 ^JPY	-2.23%		0.00%	-6.41%

Feb. 22	An unknown buyer agreed to acquire Sorapuchi Farm Co., Ltd. from JCU Corporation.	CI
Feb. 01	Tranche Update on JCU Corporation's Equity Buyback Plan announced on August 3, 2023.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	48,195	59,791	109,492	107,778	87,210	94,364	-	-
Enterprise Value (EV) ¹	34,729	48,205	94,152	89,578	64,134	100,064	94,364	94,364
P/E ratio	9.69 x	13.7 x	23.4 x	17 x	14.8 x	18.2 x	13.5 x	11.9 x
Yield	2.6%	2.15%	1.2%	1.37%	1.92%	1.77%	1.99%	2.2%
Capitalization / Revenue	1.94 x	2.68 x	5.17 x	4.44 x	3.21 x	4.03 x	3.43 x	3.15 x
EV / Revenue	1.94 x	2.68 x	5.17 x	4.44 x	3.21 x	4.03 x	3.43 x	3.15 x
EV / EBITDA	6.29 x	8.69 x	14.8 x	11.2 x	8.75 x	11.1 x	8.58 x	7.55 x
EV / FCF	11,596,538 x	43,201,693 x	17,033,573 x	23,051,037 x	-	-	54,990,799 x	13,264,578 x
FCF Yield	0%	0%	0%	0%	-	-	0%	0%
Price to Book	1.93 x	2.36 x	3.95 x	3.24 x	2.33 x	2.37 x	1.99 x	1.77 x
Nbr of stocks (in thousands)	27,842	26,538	26,257	25,971	25,315	25,333	-	-
Reference price ²	1,731	2,253	4,170	4,150	3,445	3,725	3,725	3,725
Announcement Date	5/8/19	5/8/20	5/10/21	5/11/22	5/11/23	5/10/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	24,866	22,319	21,192	24,256	27,137	24,859	27,500	30,000
EBITDA ¹	7,659	6,884	7,406	9,611	9,963	8,500	11,001	12,500
EBIT ¹	7,072	6,297	6,799	8,990	9,285	8,041	10,000	11,500
Operating Margin	28.44%	28.21%	32.08%	37.06%	34.22%	32.35%	36.36%	38.33%
Earnings before Tax (EBT)	6,842	6,239	6,846	9,205	9,510	8,024	-	-
Net income ¹	4,963	4,416	4,708	6,370	6,013	5,530	7,000	7,900
Net margin	19.96%	19.79%	22.22%	26.26%	22.16%	22.25%	25.45%	26.33%
EPS ²	178.6	164.0	178.3	243.8	232.6	217.0	276.3	311.9
Free Cash Flow	4,156	1,384	6,428	4,676	-	-	1,716	7,114
FCF margin	16.71%	6.2%	30.33%	19.28%	-	-	6.24%	23.71%
FCF Conversion (EBITDA)	54.26%	20.1%	86.79%	48.65%	-	-	15.6%	56.91%
FCF Conversion (Net income)	83.74%	31.34%	136.53%	73.4%	-	-	24.51%	90.05%
Dividend per Share ²	45.00	48.50	50.00	57.00	66.00	70.00	74.00	82.00
Announcement Date	5/8/19	5/8/20	5/10/21	5/11/22	5/11/23	5/10/24	-	-

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
Net sales ¹	10,184	12,135	9,673	11,519	6,137	11,654	6,187	6,415	12,602	6,160	6,957	13,117	7,585	6,435	14,020	5,225	5,639	10,864	6,348	7,647	13,995
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,919	3,378	2,917	3,882	2,410	4,350	2,276	2,364	4,640	2,020	2,660	4,680	2,640	1,965	4,605	1,379	1,716	3,095	2,289	2,657	4,946
Operating Margin	28.66%	27.84%	30.16%	33.7%	39.27%	37.33%	36.79%	36.85%	36.82%	32.79%	38.23%	35.68%	34.81%	30.54%	32.85%	26.39%	30.43%	28.49%	36.06%	34.75%	35.34%
Earnings before Tax (EBT)	2,878	-	2,953	-	-	4,428	2,312	-	-	2,284	-	4,860	2,665	-	-	1,382	-	3,199	2,308	-	-
Net income	2,027	-	2,012	-	-	3,078	1,542	-	-	1,607	-	3,326	1,828	-	-	944	-	2,177	1,569	-	-
Net margin	19.9%	-	20.8%	-	-	26.41%	24.92%	-	-	26.09%	-	25.36%	24.1%	-	-	18.07%	-	20.04%	24.72%	-	-
EPS	74.88	-	75.88	-	-	117.3	59.17	-	-	61.97	-	128.3	70.60	-	-	36.85	-	85.04	61.65	-	-
Dividend per Share	23.50	-	25.00	-	-	27.00	-	-	-	-	-	33.00	-	-	-	-	-	35.00	-	-	-
Announcement Date	11/1/19	5/8/20	11/4/20	5/10/21	11/4/21	11/4/21	2/4/22	5/11/22	5/11/22	8/3/22	11/7/22	11/7/22	2/3/23	5/11/23	5/11/23	8/3/23	11/7/23	11/7/23	2/7/24	5/10/24	5/10/24

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	13,466	11,586	15,340	18,200	23,076	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	4,156	1,384	6,428	4,676	-	-	1,716	7,114
ROE (net income / shareholders' equity)	20.9%	17.7%	17.8%	20.9%	16.9%	13.8%	14.8%	-
ROA (Net income/ Total Assets)	22.3%	19.1%	20.3%	24.3%	21.8%	17.4%	-	-
Assets ¹	22,234	23,075	23,215	26,263	27,531	31,817	-	-
Book Value Per Share ²	896.0	954.0	1,055	1,279	1,477	1,668	1,870	2,100
Cash Flow per Share	200.0	186.0	201.0	267.0	259.0	245.0	-	-
Capex ¹	874	1,602	634	406	1,023	700	5,297	1,000
Capex / Sales	3.51%	7.18%	2.99%	1.68%	3.77%	2.92%	19.26%	3.33%
Announcement Date	5/8/19	5/8/20	5/10/21	5/11/22	5/11/23	5/10/24	-	-

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 JCU Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,725 JPY

Average target price

5,000 JPY

Spread / Average Target

+34.23%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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