SEIKO EPSON CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,737 JPY | +0.90% |
|
+4.09% | +29.68% |
| Apr. 26 | Seiko Epson Corporation announces an Equity Buyback for 17,000,000 shares, representing 5.12% for ¥30,000 million. | CI |
| Apr. 26 | Seiko Epson Corporation authorizes a Buyback Plan. | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 597,042 | 404,737 | 622,763 | 637,019 | 595,891 | 907,653 | - | - |
| Enterprise Value (EV) 1 | 562,688 | 414,998 | 583,507 | 544,930 | 561,792 | 877,310 | 941,821 | 894,488 |
| P/E ratio | 11.1 x | 52.6 x | 20.1 x | 6.9 x | 8.52 x | 16.7 x | 15 x | 14.1 x |
| Yield | 3.66% | 5.3% | 3.44% | 3.37% | 3.83% | 2.7% | 2.79% | 2.89% |
| Capitalization / Revenue | 0.55 x | 0.39 x | 0.63 x | 0.56 x | 0.45 x | 0.67 x | 0.68 x | 0.66 x |
| EV / Revenue | 0.52 x | 0.4 x | 0.59 x | 0.48 x | 0.42 x | 0.67 x | 0.71 x | 0.66 x |
| EV / EBITDA | 4.41 x | 3.85 x | 4.97 x | 3.43 x | 3.39 x | 7.35 x | 6.47 x | 6.12 x |
| EV / FCF | -97.4 x | 15.8 x | 7.26 x | 8.17 x | -1,931 x | 11.3 x | 15.2 x | 14.3 x |
| FCF Yield | -1.03% | 6.31% | 13.8% | 12.2% | -0.05% | 8.81% | 6.56% | 6.98% |
| Price to Book | 1.11 x | 0.8 x | 1.13 x | 0.96 x | 0.86 x | 1.08 x | 1.17 x | 1.09 x |
| Nbr of stocks (in thousands) | 352,237 | 345,929 | 345,979 | 346,018 | 316,795 | 331,623 | - | - |
| Reference price 2 | 1,695 | 1,170 | 1,800 | 1,841 | 1,881 | 2,737 | 2,737 | 2,737 |
| Announcement Date | 4/26/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | 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 | 1,089,676 | 1,043,600 | 995,940 | 1,128,914 | 1,330,331 | 1,313,998 | 1,335,725 | 1,365,612 |
| EBITDA 1 | 127,492 | 107,895 | 117,506 | 159,074 | 165,740 | 133,325 | 145,470 | 146,241 |
| EBIT 1 | 71,355 | 39,479 | 47,654 | 94,479 | 97,044 | 57,533 | 83,282 | 87,742 |
| Operating Margin | 6.55% | 3.78% | 4.78% | 8.37% | 7.29% | 4.38% | 6.23% | 6.43% |
| Earnings before Tax (EBT) 1 | 72,040 | 39,713 | 44,933 | 97,162 | 103,755 | 70,094 | 83,907 | 91,661 |
| Net income 1 | 53,710 | 7,733 | 30,922 | 92,288 | 75,043 | 52,616 | 59,434 | 64,575 |
| Net margin | 4.93% | 0.74% | 3.1% | 8.17% | 5.64% | 4% | 4.45% | 4.73% |
| EPS 2 | 152.5 | 22.26 | 89.38 | 266.7 | 220.8 | 158.7 | 182.6 | 193.7 |
| Free Cash Flow 1 | -5,777 | 26,193 | 80,344 | 66,718 | -291 | 86,400 | 61,800 | 62,396 |
| FCF margin | -0.53% | 2.51% | 8.07% | 5.91% | -0.02% | 6.53% | 4.63% | 4.57% |
| FCF Conversion (EBITDA) | - | 24.28% | 68.37% | 41.94% | - | 64.8% | 42.48% | 42.67% |
| FCF Conversion (Net income) | - | 338.72% | 259.83% | 72.29% | - | 163.25% | 103.98% | 96.63% |
| Dividend per Share 2 | 62.00 | 62.00 | 62.00 | 62.00 | 72.00 | 74.00 | 76.25 | 79.00 |
| Announcement Date | 4/26/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
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 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 516,106 | 527,494 | 439,117 | 556,823 | 268,438 | 550,597 | 296,145 | 282,171 | 578,317 | 297,874 | 335,253 | 633,127 | 361,276 | 335,928 | 697,204 | 314,840 | 323,693 | 638,533 | 353,568 | 321,897 | 675,465 | 310,126 | 326,200 | - | 345,600 | 352,000 | - |
| EBITDA | - | - | - | - | 40,421 | - | 46,539 | 32,098 | - | 39,729 | 53,792 | - | 40,827 | 31,392 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 19,334 | 20,145 | 9,286 | 38,368 | 24,457 | 48,127 | 30,343 | 16,008 | 46,352 | 22,654 | 36,498 | 59,152 | 23,392 | 14,500 | 37,892 | 15,599 | 8,220 | 27,933 | 23,763 | 5,837 | 29,600 | 19,000 | 18,667 | 36,000 | 29,000 | 23,000 | 52,000 |
| Operating Margin | 3.75% | 3.82% | 2.11% | 6.89% | 9.11% | 8.74% | 10.25% | 5.67% | 8.01% | 7.61% | 10.89% | 9.34% | 6.47% | 4.32% | 5.43% | 4.95% | 2.54% | 4.37% | 6.72% | 1.81% | 4.38% | 6.13% | 5.72% | - | 8.39% | 6.53% | - |
| Earnings before Tax (EBT) 1 | 19,107 | 20,606 | 6,972 | 37,961 | 24,369 | 47,838 | 31,179 | 18,144 | 49,324 | 37,040 | 34,690 | 71,730 | 16,564 | 15,461 | 32,025 | 28,273 | 10,089 | 38,363 | 21,281 | 10,450 | 31,731 | 20,000 | - | - | - | - | - |
| Net income 1 | 12,258 | -4,525 | 4,232 | 26,690 | 19,006 | 36,499 | 25,016 | 30,773 | 55,789 | 26,679 | 23,707 | 50,386 | 11,062 | 13,595 | 24,657 | 20,188 | 7,291 | 27,479 | 14,988 | 10,149 | 25,137 | 14,000 | - | - | - | - | - |
| Net margin | 2.38% | -0.86% | 0.96% | 4.79% | 7.08% | 6.63% | 8.45% | 10.91% | 9.65% | 8.96% | 7.07% | 7.96% | 3.06% | 4.05% | 3.54% | 6.41% | 2.25% | 4.3% | 4.24% | 3.15% | 3.72% | 4.51% | - | - | - | - | - |
| EPS 2 | 35.14 | -12.88 | 12.23 | 77.15 | 54.93 | 105.5 | 72.30 | 88.94 | 161.2 | 77.10 | 68.90 | 146.0 | 32.76 | 41.99 | 74.75 | 60.90 | 21.99 | 82.88 | 45.20 | 30.60 | 75.80 | 46.30 | 34.70 | 86.80 | 65.10 | 56.40 | 121.6 |
| Dividend per Share 2 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | - | 31.00 | 31.00 | - | 31.00 | 31.00 | - | 41.00 | 41.00 | - | 37.00 | 37.00 | - | 37.00 | 37.00 | - | 38.00 | 38.00 | - | 38.00 | 38.00 |
| Announcement Date | 10/30/19 | 4/30/20 | 10/29/20 | 4/28/21 | 10/29/21 | 10/29/21 | 1/28/22 | 4/28/22 | 4/28/22 | 7/29/22 | 10/28/22 | 10/28/22 | 1/31/23 | 4/28/23 | 4/28/23 | 7/28/23 | 10/27/23 | 10/27/23 | 2/2/24 | 4/26/24 | 4/26/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 10,261 | - | - | - | 72,565 | 34,168 | - |
| Net Cash position 1 | 34,354 | - | 39,256 | 92,089 | 34,099 | - | - | 13,165 |
| Leverage (Debt/EBITDA) | - | 0.0951 x | - | - | - | 0.5443 x | 0.2349 x | - |
| Free Cash Flow 1 | -5,777 | 26,193 | 80,344 | 66,718 | -291 | 86,400 | 61,800 | 62,397 |
| ROE (net income / shareholders' equity) | 10.2% | 1.5% | 5.9% | 15.2% | 10.8% | 6.8% | 8.35% | 8.02% |
| ROA (Net income/ Total Assets) | 6.95% | 3.82% | 4.08% | 8% | 7.96% | 5.09% | 7% | 6.01% |
| Assets 1 | 772,301 | 202,443 | 757,764 | 1,152,975 | 943,143 | 1,033,894 | 849,054 | 1,075,119 |
| Book Value Per Share 2 | 1,534 | 1,456 | 1,592 | 1,924 | 2,194 | 2,446 | 2,345 | 2,517 |
| Cash Flow per Share 2 | 312.0 | 219.0 | 291.0 | 453.0 | 423.0 | 366.0 | 428.0 | 437.0 |
| Capex 1 | 82,075 | 80,090 | 52,878 | 48,285 | 78,370 | 66,980 | 66,420 | 66,200 |
| Capex / Sales | 7.53% | 7.67% | 5.31% | 4.28% | 5.89% | 5.06% | 4.97% | 4.85% |
| Announcement Date | 4/26/19 | 4/30/20 | 4/28/21 | 4/28/22 | 4/28/23 | 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
A-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
2,737
JPY
Average target price
2,439
JPY
Spread / Average Target
-10.90%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +29.68% | 5.77B | |
| +15.71% | 4.5B | |
| -10.50% | 1.44B | |
| -3.85% | 1.42B | |
| +29.10% | 1.24B | |
| +10.64% | 1.2B | |
| +6.26% | 1.07B | |
| +102.67% | 805M | |
| +1.01% | 652M | |
| +7.47% | 650M |
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- Financials Seiko Epson Corporation
