Financials Pacific Industrial Co., Ltd.

Equities

7250

JP3448400006

Auto, Truck & Motorcycle Parts

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,579 ^JPY	-4.13%		-3.37%	+22.78%

Apr. 25	Pacific Industrial Co., Ltd. announces an Equity Buyback for 1,500,000 shares, representing 2.54% for ¥2,000 million.	CI
Apr. 25	Pacific Industrial Co., Ltd. authorizes a Buyback Plan.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	93,843	56,878	76,914	57,430	68,827	93,171	-	-
Enterprise Value (EV) ¹	133,790	102,298	114,883	92,601	98,075	100,016	136,046	125,279
P/E ratio	10.7 x	7.83 x	9.63 x	5.86 x	7.43 x	5.9 x	8.86 x	7.57 x
Yield	2.12%	3.19%	2.6%	4.32%	3.64%	4.51%	3.42%	3.64%
Capitalization / Revenue	0.65 x	0.34 x	0.51 x	0.35 x	0.36 x	0.48 x	0.46 x	0.43 x
EV / Revenue	0.92 x	0.62 x	0.76 x	0.56 x	0.51 x	0.48 x	0.68 x	0.58 x
EV / EBITDA	5.81 x	4.14 x	4.7 x	3.4 x	3.57 x	3.09 x	4.52 x	3.47 x
EV / FCF	-8.09 x	-37.5 x	10.7 x	82.1 x	-	6.33 x	28 x	10.1 x
FCF Yield	-12.4%	-2.67%	9.35%	1.22%	-	15.8%	3.57%	9.92%
Price to Book	0.98 x	0.58 x	0.69 x	0.44 x	0.5 x	0.6 x	0.61 x	0.56 x
Nbr of stocks (in thousands)	60,310	60,444	60,515	60,580	59,642	59,007	-	-
Reference price ²	1,556	941.0	1,271	948.0	1,154	1,579	1,579	1,579
Announcement Date	4/25/19	4/30/20	4/28/21	4/27/22	4/27/23	4/25/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	145,030	165,969	150,408	164,472	191,254	207,348	200,450	214,320
EBITDA ¹	23,011	24,703	24,467	27,243	27,493	32,369	30,100	36,100
EBIT ¹	10,307	10,511	8,974	10,756	9,298	14,456	12,100	14,840
Operating Margin	7.11%	6.33%	5.97%	6.54%	4.86%	6.97%	6.04%	6.92%
Earnings before Tax (EBT) ¹	11,807	9,546	10,253	13,805	12,911	26,452	15,200	16,950
Net income ¹	8,730	7,256	7,982	9,803	9,301	16,974	10,155	12,192
Net margin	6.02%	4.37%	5.31%	5.96%	4.86%	8.19%	5.07%	5.69%
EPS ²	144.8	120.1	132.0	161.9	155.3	289.5	178.2	208.5
Free Cash Flow ¹	-16,547	-2,730	10,744	1,128	-	15,804	4,853	12,430
FCF margin	-11.41%	-1.64%	7.14%	0.69%	-	7.62%	2.42%	5.8%
FCF Conversion (EBITDA)	-	-	43.91%	4.14%	-	48.82%	16.12%	34.43%
FCF Conversion (Net income)	-	-	134.6%	11.51%	-	93.11%	47.79%	101.95%
Dividend per Share ²	33.00	30.00	33.00	41.00	42.00	77.00	54.00	57.50
Announcement Date	4/25/19	4/30/20	4/28/21	4/27/22	4/27/23	4/25/24	-	-

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	82,765	64,827	36,892	78,422	41,626	44,424	44,468	46,443	90,911	52,512	47,831	49,301	53,354	102,655	53,328	51,365	50,671	49,800	48,867	47,762
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	4,683	862	1,662	5,024	2,760	2,972	1,662	939	2,601	3,089	3,608	3,147	4,347	7,494	3,746	3,216	2,912	2,888	2,901	3,099
Operating Margin	5.66%	1.33%	4.51%	6.41%	6.63%	6.69%	3.74%	2.02%	2.86%	5.88%	7.54%	6.38%	8.15%	7.3%	7.02%	6.26%	5.75%	5.8%	5.94%	6.49%
Earnings before Tax (EBT)	4,854	1,268	-	5,694	4,188	3,923	3,810	-	5,437	2,969	4,505	5,234	5,033	10,267	4,681	-	-	-	-	-
Net income	3,473	942	1,493	4,381	3,020	2,402	2,909	-	4,131	2,070	3,100	3,956	3,575	7,531	3,374	-	-	-	-	-
Net margin	4.2%	1.45%	4.05%	5.59%	7.26%	5.41%	6.54%	-	4.54%	3.94%	6.48%	8.02%	6.7%	7.34%	6.33%	-	-	-	-	-
EPS ²	57.53	15.58	24.65	72.37	49.85	39.64	48.18	20.57	68.75	34.67	51.91	67.26	61.02	128.3	57.62	103.6	-	-	-	-
Dividend per Share	16.00	10.00	-	16.00	-	-	-	-	20.00	-	-	-	-	22.00	-	-	-	-	-	-
Announcement Date	10/30/19	10/28/20	10/27/21	10/27/21	2/2/22	4/27/22	7/27/22	10/26/22	10/26/22	2/2/23	4/27/23	7/27/23	10/26/23	10/26/23	2/1/24	4/25/24	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	39,947	45,420	37,969	35,171	29,248	40,864	42,874	32,108
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.736 x	1.839 x	1.552 x	1.291 x	1.064 x	1.276 x	1.424 x	0.8894 x
Free Cash Flow ¹	-16,547	-2,730	10,744	1,128	-	15,804	4,853	12,430
ROE (net income / shareholders' equity)	9.3%	7.5%	7.6%	8.1%	7%	11.2%	6.8%	7.55%
ROA (Net income/ Total Assets)	6.48%	5.45%	5.22%	6.21%	5.25%	6.84%	5.5%	5.9%
Assets ¹	134,821	133,030	152,913	157,951	177,267	248,047	184,636	206,644
Book Value Per Share ²	1,590	1,614	1,846	2,138	2,309	2,840	2,575	2,804
Cash Flow per Share ²	356.0	355.0	373.0	434.0	459.0	595.0	569.0	625.0
Capex ¹	35,488	23,451	16,244	18,133	22,936	31,520	25,000	20,000
Capex / Sales	24.47%	14.13%	10.8%	11.02%	11.99%	15.2%	12.47%	9.33%
Announcement Date	4/25/19	4/30/20	4/28/21	4/27/22	4/27/23	4/25/24	-	-

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 Pacific Industrial Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,579 JPY

Average target price

1,698 JPY

Spread / Average Target

+7.50%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Auto, Truck & Motorcycle Parts

	1st Jan change	Capi.
PACIFIC INDUSTRIAL CO., LTD.	+22.78%	592M
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APTIV PLC	-20.63%	19.42B
FUYAO GLASS INDUSTRY GROUP CO., LTD.	+31.67%	17.27B
HYUNDAI MOBIS CO.,LTD	+1.48%	15.84B
CONTINENTAL AG	-18.75%	13.35B
SUMITOMO ELECTRIC INDUSTRIES, LTD.	+31.97%	11.74B
SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED	+28.58%	10.66B
BOSCH LIMITED	+30.12%	10.21B

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