MITSUBISHI ESTATE CO., LTD. Financials Mitsubishi Estate Co., Ltd.
Equities
8802
JP3899600005
Real Estate Development & Operations
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,808 JPY | +1.78% |
|
+0.34% | +44.49% |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,783,904 | 2,134,907 | 2,586,793 | 2,405,831 | 2,052,406 | 3,554,967 | - | - |
| Enterprise Value (EV) 1 | 4,915,326 | 4,297,250 | 4,936,172 | 4,910,131 | 4,694,023 | 6,332,182 | 6,427,353 | 6,566,947 |
| P/E ratio | 20.7 x | 14.7 x | 19.1 x | 15.6 x | 12.6 x | 21.1 x | 19.6 x | 18.3 x |
| Yield | 1.5% | 2.07% | 1.6% | 1.98% | 2.41% | 1.44% | 1.57% | 1.7% |
| Capitalization / Revenue | 2.2 x | 1.64 x | 2.14 x | 1.78 x | 1.49 x | 2.42 x | 2.36 x | 2.27 x |
| EV / Revenue | 3.89 x | 3.3 x | 4.09 x | 3.64 x | 3.41 x | 4.32 x | 4.27 x | 4.2 x |
| EV / EBITDA | 15.9 x | 13.3 x | 15.7 x | 13.3 x | 12.1 x | 17.3 x | 16.4 x | 16 x |
| EV / FCF | 65.7 x | -131 x | -33.8 x | -146 x | -111 x | -29.2 x | -90.5 x | -63.2 x |
| FCF Yield | 1.52% | -0.76% | -2.96% | -0.69% | -0.9% | -3.43% | -1.1% | -1.58% |
| Price to Book | 1.57 x | 1.23 x | 1.4 x | 1.2 x | 0.95 x | 1.57 x | 1.49 x | 1.4 x |
| Nbr of stocks (in thousands) | 1,388,134 | 1,338,500 | 1,338,573 | 1,322,612 | 1,301,875 | 1,266,239 | - | - |
| Reference price 2 | 2,006 | 1,595 | 1,932 | 1,819 | 1,576 | 2,808 | 2,808 | 2,808 |
| Announcement Date | 5/14/19 | 5/14/20 | 5/13/21 | 5/12/22 | 5/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,263,283 | 1,302,196 | 1,207,594 | 1,349,489 | 1,377,827 | 1,466,146 | 1,504,042 | 1,563,463 |
| EBITDA 1 | 309,514 | 322,287 | 313,501 | 370,558 | 388,283 | 365,463 | 391,923 | 411,487 |
| EBIT 1 | 229,178 | 240,768 | 224,394 | 278,977 | 296,702 | 269,095 | 292,342 | 310,291 |
| Operating Margin | 18.14% | 18.49% | 18.58% | 20.67% | 21.53% | 18.35% | 19.44% | 19.85% |
| Earnings before Tax (EBT) 1 | 210,939 | 223,949 | 201,265 | 253,779 | 252,902 | 262,710 | 275,108 | 291,212 |
| Net income 1 | 134,608 | 148,451 | 135,655 | 155,171 | 165,343 | 168,613 | 178,991 | 189,935 |
| Net margin | 10.66% | 11.4% | 11.23% | 11.5% | 12% | 11.5% | 11.9% | 12.15% |
| EPS 2 | 96.97 | 108.6 | 101.3 | 116.4 | 125.5 | 132.8 | 143.0 | 153.7 |
| Free Cash Flow 1 | 74,871 | -32,867 | -146,217 | -33,688 | -42,132 | -217,050 | -71,000 | -103,900 |
| FCF margin | 5.93% | -2.52% | -12.11% | -2.5% | -3.06% | -14.8% | -4.72% | -6.65% |
| FCF Conversion (EBITDA) | 24.19% | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | 55.62% | - | - | - | - | - | - | - |
| Dividend per Share 2 | 30.00 | 33.00 | 31.00 | 36.00 | 38.00 | 40.36 | 44.00 | 47.70 |
| Announcement Date | 5/14/19 | 5/14/20 | 5/13/21 | 5/12/22 | 5/11/23 | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 535,226 | 766,970 | 527,312 | 680,282 | 271,621 | 579,023 | 325,547 | 444,919 | 770,466 | 305,367 | 289,198 | 594,565 | 311,759 | 471,503 | 783,262 | 292,465 | 295,468 | 587,933 | 338,515 | 534,692 | 835,807 | 300,086 | 292,807 | 590,000 | 336,647 | - |
| EBITDA | 135,422 | - | 141,303 | - | - | 156,623 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 84,000 | - | 163,500 | - | - |
| EBIT 1 | 92,276 | 148,492 | 98,072 | 126,322 | 49,095 | 111,658 | 60,682 | 106,637 | 167,319 | 83,518 | 58,560 | 142,078 | 57,934 | 96,690 | 154,624 | 48,400 | 41,914 | 90,314 | 56,507 | 121,906 | 180,886 | 59,499 | 54,914 | 115,500 | 62,379 | - |
| Operating Margin | 17.24% | 19.36% | 18.6% | 18.57% | 18.07% | 19.28% | 18.64% | 23.97% | 21.72% | 27.35% | 20.25% | 23.9% | 18.58% | 20.51% | 19.74% | 16.55% | 14.19% | 15.36% | 16.69% | 22.8% | 21.64% | 19.83% | 18.75% | 19.58% | 18.53% | - |
| Earnings before Tax (EBT) 1 | 81,083 | - | 82,310 | - | 33,475 | 91,149 | 55,160 | 107,470 | - | 84,564 | 38,622 | 123,186 | 45,249 | 84,467 | - | 46,340 | 36,230 | 82,570 | 57,009 | 118,421 | - | 57,000 | - | 105,000 | - | - |
| Net income 1 | 48,078 | 100,373 | 50,939 | 84,716 | 20,579 | 55,287 | 31,855 | 68,029 | 99,884 | 61,553 | 14,789 | 76,342 | 26,467 | 62,534 | 89,001 | 19,269 | 22,277 | 41,546 | 36,001 | 88,722 | 128,554 | 33,609 | 33,263 | 65,000 | 40,005 | - |
| Net margin | 8.98% | 13.09% | 9.66% | 12.45% | 7.58% | 9.55% | 9.79% | 15.29% | 12.96% | 20.16% | 5.11% | 12.84% | 8.49% | 13.26% | 11.36% | 6.59% | 7.54% | 7.07% | 10.63% | 16.59% | 15.38% | 11.2% | 11.36% | 11.02% | 11.88% | - |
| EPS 2 | 34.85 | - | 38.05 | - | 15.43 | 41.36 | 23.92 | 51.17 | - | 46.54 | 11.17 | 57.71 | 20.08 | 47.75 | - | 14.93 | 17.41 | 32.34 | 28.27 | 70.90 | - | 26.30 | 26.22 | 50.59 | 31.53 | - |
| Dividend per Share 2 | 15.00 | - | 12.00 | - | 16.00 | 16.00 | - | 20.00 | - | - | 19.00 | 19.00 | - | 19.00 | - | - | 20.00 | 20.00 | - | 20.50 | - | - | 23.00 | 22.00 | - | 23.00 |
| Announcement Date | 11/7/19 | 5/14/20 | 11/11/20 | 5/13/21 | 11/10/21 | 11/10/21 | 2/10/22 | 5/12/22 | 5/12/22 | 8/5/22 | 11/10/22 | 11/10/22 | 2/9/23 | 5/11/23 | 5/11/23 | 8/10/23 | 11/9/23 | 11/9/23 | 2/9/24 | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 2,131,422 | 2,162,343 | 2,349,379 | 2,504,300 | 2,641,617 | 2,777,215 | 2,872,386 | 3,011,980 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.886 x | 6.709 x | 7.494 x | 6.758 x | 6.803 x | 7.599 x | 7.329 x | 7.32 x |
| Free Cash Flow 1 | 74,871 | -32,867 | -146,217 | -33,688 | -42,132 | -217,050 | -71,000 | -103,900 |
| ROE (net income / shareholders' equity) | 7.8% | 8.5% | 7.6% | 8.1% | 7.9% | 7.65% | 7.99% | 8.11% |
| ROA (Net income/ Total Assets) | 3.57% | 3.78% | 3.54% | 4.04% | 4.07% | 3.25% | 3.47% | 3.56% |
| Assets 1 | 3,771,959 | 3,932,300 | 3,835,866 | 3,842,864 | 4,065,118 | 5,188,101 | 5,164,206 | 5,335,257 |
| Book Value Per Share 2 | 1,276 | 1,296 | 1,383 | 1,515 | 1,664 | 1,789 | 1,890 | 1,999 |
| Cash Flow per Share 2 | 155.0 | 168.0 | 168.0 | 185.0 | 197.0 | 212.0 | 232.0 | 257.0 |
| Capex 1 | 312,324 | 374,633 | 353,631 | 347,694 | 298,439 | 419,080 | 342,280 | 344,120 |
| Capex / Sales | 24.72% | 28.77% | 29.28% | 25.76% | 21.66% | 28.58% | 22.76% | 22.01% |
| Announcement Date | 5/14/19 | 5/14/20 | 5/13/21 | 5/12/22 | 5/11/23 | - | - | - |
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
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
2,808
JPY
Average target price
3,038
JPY
Spread / Average Target
+8.22%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +44.49% | 22.46B | |
| +36.16% | 27.29B | |
| -13.74% | 26.65B | |
| +25.00% | 26.56B | |
| -0.71% | 23.73B | |
| +2.78% | 19.61B | |
| +1.45% | 18.04B | |
| +28.54% | 16.12B | |
| -14.80% | 14.69B | |
| -1.25% | 14.56B |
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- Financials Mitsubishi Estate Co., Ltd.
