Financials Press Kogyo Co., Ltd.

Equities

7246

JP3833600004

Auto, Truck & Motorcycle Parts

Delayed Japan Exchange Other stock markets 09:34:52 2024-05-06 pm EDT			5-day change	1st Jan Change
800 ^JPY	+1.91%		+2.70%	+40.35%

Feb. 21	Press Kogyo's Nine-Month Attributable Profit, Net Sales Surge Amid Improved Chip Supply	MT
Feb. 20	Press Kogyo Co., Ltd. Provides Year-End Cash Dividend Guidance for the Fiscal Year Ending March 31, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	64,513	26,233	36,097	39,843	51,352	79,625	-	-
Enterprise Value (EV) ¹	58,024	14,659	28,993	32,213	38,376	63,725	64,175	63,241
P/E ratio	8.49 x	7.07 x	24.2 x	5.71 x	7.6 x	9.56 x	9.44 x	8.47 x
Yield	2.39%	5.37%	2.25%	5.29%	4.22%	3.35%	3.61%	3.95%
Capitalization / Revenue	0.29 x	0.13 x	0.23 x	0.25 x	0.28 x	0.41 x	0.38 x	0.36 x
EV / Revenue	0.26 x	0.07 x	0.19 x	0.2 x	0.21 x	0.33 x	0.31 x	0.29 x
EV / EBITDA	2.48 x	-	-	1.46 x	1.67 x	2.5 x	2.33 x	2.2 x
EV / FCF	6.7 x	1.58 x	-11.4 x	6.56 x	3.37 x	10.4 x	13.2 x	11.3 x
FCF Yield	14.9%	63.3%	-8.79%	15.2%	29.7%	9.57%	7.56%	8.86%
Price to Book	0.74 x	0.3 x	0.41 x	0.42 x	0.51 x	0.74 x	0.71 x	0.67 x
Nbr of stocks (in thousands)	109,902	108,401	108,401	105,405	103,117	101,433	-	-
Reference price ²	587.0	242.0	333.0	378.0	498.0	785.0	785.0	785.0
Announcement Date	5/10/19	5/12/20	5/12/21	5/13/22	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	220,661	205,292	153,725	160,060	184,844	195,833	207,533	220,567
EBITDA ¹	23,386	-	-	22,104	22,932	25,500	27,500	28,750
EBIT ¹	13,800	7,459	4,764	12,424	13,110	14,167	15,333	16,833
Operating Margin	6.25%	3.63%	3.1%	7.76%	7.09%	7.23%	7.39%	7.63%
Earnings before Tax (EBT) ¹	13,291	7,100	2,945	11,747	12,833	14,755	15,030	16,280
Net income ¹	7,567	3,728	1,489	7,107	6,793	8,330	8,433	9,400
Net margin	3.43%	1.82%	0.97%	4.44%	3.67%	4.25%	4.06%	4.26%
EPS ²	69.10	34.22	13.74	66.17	65.54	82.10	83.17	92.67
Free Cash Flow ¹	8,663	9,278	-2,548	4,907	11,404	6,100	4,852	5,604
FCF margin	3.93%	4.52%	-1.66%	3.07%	6.17%	3.11%	2.34%	2.54%
FCF Conversion (EBITDA)	37.04%	-	-	22.2%	49.73%	23.92%	17.64%	19.49%
FCF Conversion (Net income)	114.48%	248.87%	-	69.04%	167.88%	73.23%	57.53%	59.62%
Dividend per Share ²	14.00	13.00	7.500	20.00	21.00	26.33	28.33	31.00
Announcement Date	5/10/19	5/12/20	5/12/21	5/13/22	5/11/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2
Net sales ¹	105,200	67,194	75,521	35,287	49,252	84,539	42,287	45,249	87,536	49,752	47,556	51,203	47,696	98,899	52,547	48,600	101,100
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	3,019	-1,281	5,471	2,526	4,427	-	2,448	2,568	5,016	3,988	4,106	3,325	3,031	6,356	4,467	3,700	8,100
Operating Margin	2.87%	-1.91%	7.24%	7.16%	8.99%	-	5.79%	5.68%	5.73%	8.02%	8.63%	6.49%	6.35%	6.43%	8.5%	7.61%	8.01%
Earnings before Tax (EBT) ¹	2,961	-3,180	5,390	1,773	4,584	-	2,938	3,506	6,444	2,114	4,275	4,185	3,183	7,368	4,566	3,600	8,100
Net income ¹	1,477	-2,585	3,306	739	3,062	3,801	1,628	2,302	3,930	226	2,637	2,384	2,036	4,420	2,328	1,800	4,100
Net margin	1.4%	-3.85%	4.38%	2.09%	6.22%	4.5%	3.85%	5.09%	4.49%	0.45%	5.55%	4.66%	4.27%	4.47%	4.43%	3.7%	4.06%
EPS	13.50	-23.85	30.50	6.950	-	-	15.53	-	37.76	2.290	-	23.29	-	43.34	22.93	-	-
Dividend per Share	6.500	-	9.500	-	-	-	-	-	10.50	-	-	-	-	13.00	-	-	-
Announcement Date	11/7/19	11/6/20	11/5/21	2/7/22	5/13/22	5/13/22	8/4/22	11/7/22	11/7/22	2/7/23	5/11/23	8/9/23	11/9/23	11/9/23	2/9/24	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	6,489	11,574	7,104	7,630	12,976	15,900	15,450	16,384
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	8,663	9,278	-2,548	4,907	11,404	6,100	4,852	5,605
ROE (net income / shareholders' equity)	8.9%	4.3%	1.7%	7.7%	7%	8.4%	7.45%	7.85%
ROA (Net income/ Total Assets)	8.32%	4.69%	3.27%	7.79%	7.81%	8%	8%	8.4%
Assets ¹	90,965	79,559	45,561	91,193	86,936	104,125	105,417	111,905
Book Value Per Share ²	793.0	801.0	821.0	899.0	972.0	1,054	1,103	1,168
Cash Flow per Share ²	157.0	121.0	101.0	156.0	160.0	183.0	208.0	212.0
Capex ¹	8,162	9,188	9,651	11,305	11,788	15,000	12,500	12,500
Capex / Sales	3.7%	4.48%	6.28%	7.06%	6.38%	7.66%	6.02%	5.67%
Announcement Date	5/10/19	5/12/20	5/12/21	5/13/22	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

Ratings for Press Kogyo Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

785 JPY

Average target price

840 JPY

Spread / Average Target

+7.01%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Engine & Powertrain Systems

	1st Jan change	Capi.
PRESS KOGYO CO., LTD.	+40.35%	521M
CUMMINS INC.	+18.37%	38.4B
CUMMINS INDIA LIMITED	+73.67%	11.32B
MODINE MANUFACTURING COMPANY	+68.88%	4.91B
DORMAN PRODUCTS, INC.	+11.37%	2.82B
VITESCO TECHNOLOGIES GROUP AG	-18.67%	2.72B
ATMUS FILTRATION TECHNOLOGIES INC.	+26.39%	2.37B
CHONGQING ZONGSHEN POWER MACHINERY CO.,LTD	+72.85%	1.86B
WUXI BEST PRECISION MACHINERY CO., LTD.	-6.80%	1.3B
YAPP AUTOMOTIVE SYSTEMS CO., LTD.	-5.84%	1.12B

Engine & Powertrain Systems