Financials OPTEX GROUP Company, Limited

Equities

6914

JP3197700002

Electrical Components & Equipment

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-02 am EDT			5-day change	1st Jan Change
1,820 ^JPY	-1.99%		+1.17%	+1.90%

Apr. 10	Optex Group to Allocate 429 Shares to Directors	MT
Mar. 11	Futures bearish; eyes on US inflation	AN

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	59,812	68,204	58,361	63,803	63,447	64,655	-	-
Enterprise Value (EV) ¹	50,738	60,073	52,002	57,070	56,467	52,875	48,137	42,284
P/E ratio	27.6 x	48.9 x	15.8 x	13.4 x	13.8 x	12.9 x	10.6 x	8.72 x
Yield	1.96%	1.59%	1.83%	2%	2.24%	2.2%	2.51%	2.83%
Capitalization / Revenue	1.59 x	1.96 x	1.27 x	1.16 x	1.13 x	1.06 x	0.98 x	0.89 x
EV / Revenue	1.35 x	1.72 x	1.13 x	1.04 x	1 x	0.86 x	0.73 x	0.58 x
EV / EBITDA	12.1 x	-	8.24 x	6.99 x	7.14 x	5.86 x	4.67 x	3.57 x
EV / FCF	25.8 x	24 x	-	188 x	42.4 x	8.5 x	7.31 x	5.23 x
FCF Yield	3.87%	4.17%	-	0.53%	2.36%	11.8%	13.7%	19.1%
Price to Book	1.86 x	2.1 x	1.66 x	1.62 x	1.45 x	1.36 x	1.24 x	1.13 x
Nbr of stocks (in thousands)	36,140	36,163	35,521	35,525	35,525	35,525	-	-
Reference price ²	1,655	1,886	1,643	1,796	1,786	1,820	1,820	1,820
Announcement Date	2/14/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	37,517	34,846	45,866	54,811	56,372	61,242	65,979	72,330
EBITDA ¹	4,185	-	6,311	8,165	7,914	9,024	10,312	11,852
EBIT ¹	2,856	2,098	4,630	6,303	5,899	6,681	8,010	10,020
Operating Margin	7.61%	6.02%	10.09%	11.5%	10.46%	10.91%	12.14%	13.85%
Earnings before Tax (EBT) ¹	3,004	2,019	5,031	6,575	6,596	7,467	8,754	10,471
Net income ¹	2,197	1,395	3,762	4,752	4,608	5,011	6,083	7,414
Net margin	5.86%	4%	8.2%	8.67%	8.17%	8.18%	9.22%	10.25%
EPS ²	60.02	38.59	104.2	133.8	129.7	141.0	171.2	208.7
Free Cash Flow ¹	1,964	2,505	-	304	1,331	6,221	6,586	8,091
FCF margin	5.23%	7.19%	-	0.55%	2.36%	10.16%	9.98%	11.19%
FCF Conversion (EBITDA)	46.93%	-	-	3.72%	16.82%	68.94%	63.87%	68.27%
FCF Conversion (Net income)	89.39%	179.57%	-	6.4%	28.88%	124.16%	108.27%	109.12%
Dividend per Share ²	32.50	30.00	30.00	36.00	40.00	40.00	45.67	51.50
Announcement Date	2/14/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	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	18,924	16,636	18,210	22,750	11,299	11,817	23,116	13,901	13,340	27,241	13,227	14,343	27,570	13,822	13,375	27,197	13,839	15,336	29,175	14,556	14,317	28,872	14,244	18,296	33,804
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,541	783	1,315	2,520	1,296	814	2,110	2,120	1,470	3,590	1,705	1,008	2,713	1,751	908	2,659	1,360	1,880	3,240	1,683	1,196	3,020	1,488	2,314	3,942
Operating Margin	8.14%	4.71%	7.22%	11.08%	11.47%	6.89%	9.13%	15.25%	11.02%	13.18%	12.89%	7.03%	9.84%	12.67%	6.79%	9.78%	9.83%	12.26%	11.11%	11.56%	8.35%	10.46%	10.44%	12.65%	11.66%
Earnings before Tax (EBT)	1,774	874	1,145	2,763	1,362	906	2,268	2,435	1,865	4,300	1,943	332	2,275	1,756	1,178	2,934	1,852	-	-	-	-	-	-	-	-
Net income ¹	1,274	586	809	1,921	1,031	810	1,841	1,743	1,377	3,120	1,400	232	1,632	1,182	803	1,985	1,415	1,208	2,623	1,182	803	1,985	1,415	1,600	3,015
Net margin	6.73%	3.52%	4.44%	8.44%	9.12%	6.85%	7.96%	12.54%	10.32%	11.45%	10.58%	1.62%	5.92%	8.55%	6%	7.3%	10.22%	7.88%	8.99%	8.12%	5.61%	6.88%	9.93%	8.74%	8.92%
EPS	-	16.22	-	53.13	28.52	-	-	49.07	-	87.85	39.41	-	-	33.29	-	55.88	39.85	-	-	-	-	-	-	-	-
Dividend per Share	-	15.00	-	15.00	-	-	-	-	-	18.00	-	-	-	-	-	20.00	-	-	-	-	-	-	-	-	-
Announcement Date	2/14/20	8/6/20	2/12/21	8/6/21	11/9/21	2/14/22	2/14/22	5/10/22	8/8/22	8/8/22	11/8/22	2/14/23	2/14/23	5/10/23	8/8/23	8/8/23	11/8/23	2/14/24	2/14/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	9,074	8,131	6,359	6,733	6,980	11,780	16,518	22,371
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	1,964	2,505	-	304	1,331	6,221	6,586	8,091
ROE (net income / shareholders' equity)	6.8%	4.3%	11.2%	12.8%	11.1%	11.4%	12.3%	13.6%
ROA (Net income/ Total Assets)	6.59%	4.76%	9.76%	11.6%	9.6%	7.6%	8.6%	10.1%
Assets ¹	33,329	29,284	38,558	40,850	48,020	65,930	70,729	73,411
Book Value Per Share ²	891.0	896.0	987.0	1,109	1,234	1,341	1,462	1,609
Cash Flow per Share	96.30	76.30	145.0	179.0	178.0	-	-	-
Capex ¹	1,657	1,389	930	1,365	1,297	1,365	1,421	1,486
Capex / Sales	4.42%	3.99%	2.03%	2.49%	2.3%	2.23%	2.15%	2.05%
Announcement Date	2/14/20	2/12/21	2/14/22	2/14/23	2/14/24	-	-	-

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 OPTEX GROUP Company, Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,820 JPY

Average target price

3,000 JPY

Spread / Average Target

+64.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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