KYOCERA CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,928 JPY | 0.00% |
|
+1.34% | -6.34% |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,351,404 | 2,322,472 | 2,546,150 | 2,469,961 | 2,472,194 | 2,715,160 | - | - |
| Enterprise Value (EV) 1 | 1,743,930 | 1,967,172 | 2,227,393 | 2,161,010 | 2,303,708 | 2,848,983 | 2,410,399 | 2,388,169 |
| P/E ratio | 22.8 x | 21.5 x | 28.2 x | 16.7 x | 19.3 x | 28.3 x | 22.2 x | 18.5 x |
| Yield | 2.15% | 2.5% | 1.99% | 2.62% | 2.9% | 2.59% | 2.68% | 2.81% |
| Capitalization / Revenue | 1.45 x | 1.45 x | 1.67 x | 1.34 x | 1.22 x | 1.42 x | 1.32 x | 1.26 x |
| EV / Revenue | 1.07 x | 1.23 x | 1.46 x | 1.18 x | 1.14 x | 1.42 x | 1.17 x | 1.11 x |
| EV / EBITDA | 11 x | 10.2 x | 12.4 x | 7.78 x | 8.28 x | 11.4 x | 9.8 x | 7.73 x |
| EV / FCF | 10.1 x | 28.5 x | 21.5 x | 17.6 x | 222 x | 40.9 x | 25.9 x | 25.7 x |
| FCF Yield | 9.91% | 3.51% | 4.66% | 5.67% | 0.45% | 2.45% | 3.86% | 3.89% |
| Price to Book | 1.04 x | 0.95 x | 0.98 x | 0.86 x | 0.82 x | 0.88 x | 0.87 x | 0.84 x |
| Nbr of stocks (in thousands) | 1,447,018 | 1,449,733 | 1,449,765 | 1,435,606 | 1,435,653 | 1,408,643 | - | - |
| Reference price 2 | 1,625 | 1,602 | 1,756 | 1,720 | 1,722 | 1,928 | 1,928 | 1,928 |
| Announcement Date | 4/25/19 | 4/27/20 | 4/27/21 | 4/28/22 | 5/15/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,623,710 | 1,599,053 | 1,526,897 | 1,838,938 | 2,025,332 | 2,004,221 | 2,063,931 | 2,156,648 |
| EBITDA 1 | 158,712 | 192,941 | 179,702 | 277,870 | 278,120 | 249,873 | 246,046 | 308,880 |
| EBIT 1 | 94,823 | 100,193 | 70,644 | 148,910 | 128,517 | 92,923 | 110,156 | 143,545 |
| Operating Margin | 5.84% | 6.27% | 4.63% | 8.1% | 6.35% | 4.64% | 5.34% | 6.66% |
| Earnings before Tax (EBT) 1 | 140,610 | 148,826 | 117,559 | 198,947 | 176,192 | 136,143 | 168,598 | 203,998 |
| Net income 1 | 103,210 | 107,721 | 90,214 | 148,414 | 127,988 | 101,074 | 120,565 | 145,701 |
| Net margin | 6.36% | 6.74% | 5.91% | 8.07% | 6.32% | 5.04% | 5.84% | 6.76% |
| EPS 2 | 71.24 | 74.34 | 62.23 | 102.8 | 89.15 | 71.58 | 87.00 | 104.1 |
| Free Cash Flow 1 | 172,904 | 69,079 | 103,715 | 122,500 | 10,379 | 59,881 | 93,000 | 92,864 |
| FCF margin | 10.65% | 4.32% | 6.79% | 6.66% | 0.51% | 3% | 4.51% | 4.31% |
| FCF Conversion (EBITDA) | 108.94% | 35.8% | 57.71% | 44.09% | 3.73% | 26.58% | 37.8% | 30.06% |
| FCF Conversion (Net income) | 167.53% | 64.13% | 114.97% | 82.54% | 8.11% | 54.87% | 77.14% | 63.74% |
| Dividend per Share 2 | 35.00 | 40.00 | 35.00 | 45.00 | 50.00 | 50.00 | 51.67 | 54.17 |
| Announcement Date | 4/25/19 | 4/27/20 | 4/27/21 | 4/28/22 | 5/15/23 | 4/26/24 | - | - |
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 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 799,050 | 800,003 | 696,037 | 830,860 | 455,625 | 876,337 | 479,328 | 483,273 | 962,601 | 491,954 | 520,218 | 1,012,172 | 514,325 | 498,835 | 1,013,160 | 479,420 | 505,870 | 985,290 | 507,382 | 511,549 | 1,018,931 | 497,940 | 523,371 | 1,009,000 | 536,384 | 527,632 | 1,060,000 | 1,068,189 | 1,118,876 |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 56,003 | - | 53,996 | 54,520 | - | 64,593 | 65,322 | - | 64,495 | - | - | - | - |
| EBIT 1 | 60,320 | 39,873 | 24,065 | 46,579 | 43,303 | 75,679 | 42,779 | 30,452 | 73,231 | 41,428 | 35,060 | 76,488 | 37,396 | 14,633 | 52,029 | 25,677 | 28,325 | 54,002 | 25,842 | 13,079 | 38,921 | 20,944 | 27,850 | 48,200 | 38,146 | 25,309 | 58,666 | 61,871 | 71,748 |
| Operating Margin | 7.55% | 4.98% | 3.46% | 5.61% | 9.5% | 8.64% | 8.92% | 6.3% | 7.61% | 8.42% | 6.74% | 7.56% | 7.27% | 2.93% | 5.14% | 5.36% | 5.6% | 5.48% | 5.09% | 2.56% | 3.82% | 4.21% | 5.32% | 4.78% | 7.11% | 4.8% | 5.53% | 5.79% | 6.41% |
| Earnings before Tax (EBT) 1 | 85,213 | 63,613 | 48,249 | 69,310 | 44,875 | 99,351 | 63,752 | 35,844 | 99,596 | 68,711 | 35,600 | 104,311 | 58,445 | 13,436 | 71,881 | 50,477 | 27,390 | 77,867 | 47,771 | 10,505 | 58,276 | 45,214 | 26,885 | 72,099 | 59,361 | 23,172 | 82,533 | 86,071 | 96,448 |
| Net income 1 | 59,614 | 48,107 | 34,360 | 55,854 | 32,459 | 73,219 | 46,614 | 28,581 | 75,195 | 49,974 | 25,612 | 75,586 | 43,197 | 9,205 | 52,402 | 37,392 | 19,095 | 56,487 | 33,879 | 10,708 | 44,587 | 28,065 | 24,215 | 51,953 | 44,513 | 19,600 | 59,674 | 62,293 | 69,971 |
| Net margin | 7.46% | 6.01% | 4.94% | 6.72% | 7.12% | 8.36% | 9.72% | 5.91% | 7.81% | 10.16% | 4.92% | 7.47% | 8.4% | 1.85% | 5.17% | 7.8% | 3.77% | 5.73% | 6.68% | 2.09% | 4.38% | 5.64% | 4.63% | 5.15% | 8.3% | 3.71% | 5.63% | 5.83% | 6.25% |
| EPS 2 | 41.16 | 33.18 | 23.70 | 38.53 | 22.39 | 50.50 | 32.33 | 19.95 | 52.28 | 34.81 | 17.84 | 52.65 | 30.09 | 6.410 | - | 26.33 | 13.57 | 39.90 | 24.04 | 7.640 | - | 17.24 | 21.66 | - | 29.60 | 20.11 | - | - | - |
| Dividend per Share 2 | 20.00 | - | 15.00 | - | 22.50 | 22.50 | - | 22.50 | - | - | 25.00 | 25.00 | - | 25.00 | - | - | 25.00 | 25.00 | - | 25.00 | 25.00 | - | 27.50 | 25.00 | - | 27.50 | 30.00 | 30.00 | 30.00 |
| Announcement Date | 10/31/19 | 4/27/20 | 10/29/20 | 4/27/21 | 11/1/21 | 11/1/21 | 1/31/22 | 4/28/22 | 4/28/22 | 8/1/22 | 10/31/22 | 10/31/22 | 2/1/23 | 5/15/23 | 5/15/23 | 7/31/23 | 11/1/23 | 11/1/23 | 2/1/24 | 4/26/24 | 4/26/24 | - | - | - | - | - | - | - | - |
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 | 607,474 | 355,300 | 318,757 | 308,951 | 168,486 | 267,562 | 304,761 | 326,991 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 172,904 | 69,079 | 103,715 | 122,500 | 10,379 | 59,881 | 93,000 | 92,865 |
| ROE (net income / shareholders' equity) | 4.5% | 4.59% | 3.6% | 5.4% | 4.3% | 3.2% | 4.01% | 4.47% |
| ROA (Net income/ Total Assets) | 4.59% | 3.46% | 3.49% | 5.37% | 4.4% | 3.18% | 2.8% | 3.41% |
| Assets 1 | 2,248,128 | 3,109,325 | 2,587,516 | 2,764,194 | 2,909,711 | 3,177,259 | 4,305,888 | 4,276,512 |
| Book Value Per Share 2 | 1,566 | 1,678 | 1,787 | 2,000 | 2,106 | 2,290 | 2,227 | 2,300 |
| Cash Flow per Share 2 | 115.0 | 148.0 | 137.0 | 192.0 | 193.0 | 183.0 | 207.0 | 230.0 |
| Capex 1 | 117,049 | 106,003 | 117,106 | 151,771 | 173,901 | 181,569 | 200,000 | 206,875 |
| Capex / Sales | 7.21% | 6.63% | 7.67% | 8.25% | 8.59% | 9.09% | 9.69% | 9.59% |
| Announcement Date | 4/25/19 | 4/27/20 | 4/27/21 | 4/28/22 | 5/15/23 | 4/26/24 | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
1,928
JPY
Average target price
2,166
JPY
Spread / Average Target
+12.38%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -6.34% | 17.25B | |
| +12.06% | 107B | |
| -0.62% | 29.43B | |
| +12.05% | 22.21B | |
| -16.05% | 17.75B | |
| +8.74% | 15.28B | |
| -4.89% | 12.2B | |
| -2.85% | 10.42B | |
| -8.86% | 9.04B | |
| -4.57% | 7.87B |
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