SHISEIDO COMPANY, LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,196 JPY | -0.50% |
|
+3.43% | -1.32% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,108,336 | 2,850,564 | 2,562,314 | 2,585,474 | 1,699,311 | 1,676,956 | - | - |
| Enterprise Value (EV) 1 | 3,246,101 | 2,999,633 | 2,536,903 | 2,763,626 | 1,875,607 | 1,833,118 | 1,810,312 | 1,786,747 |
| P/E ratio | 42.3 x | -244 x | 60.4 x | 75.6 x | 78.1 x | 66.8 x | 27.5 x | 22.9 x |
| Yield | 0.77% | 0.56% | 0.78% | 1.55% | 1.41% | 1.43% | 1.52% | 1.63% |
| Capitalization / Revenue | 2.75 x | 3.1 x | 2.48 x | 2.42 x | 1.75 x | 1.64 x | 1.54 x | 1.47 x |
| EV / Revenue | 2.87 x | 3.26 x | 2.45 x | 2.59 x | 1.93 x | 1.79 x | 1.67 x | 1.56 x |
| EV / EBITDA | 18.8 x | 36.4 x | 22.8 x | 22.6 x | 20.4 x | 13.8 x | 11 x | 9.85 x |
| EV / FCF | -57.3 x | -497 x | 96.9 x | 509 x | 35.1 x | 36.4 x | 24.4 x | 20 x |
| FCF Yield | -1.75% | -0.2% | 1.03% | 0.2% | 2.85% | 2.74% | 4.09% | 5% |
| Price to Book | 6.26 x | 5.89 x | 4.7 x | 4.28 x | 2.75 x | 2.7 x | 2.53 x | 2.37 x |
| Nbr of stocks (in thousands) | 399,426 | 399,463 | 399,488 | 399,548 | 399,650 | 399,656 | - | - |
| Reference price 2 | 7,782 | 7,136 | 6,414 | 6,471 | 4,252 | 4,196 | 4,196 | 4,196 |
| Announcement Date | 2/6/20 | 2/9/21 | 2/9/22 | 2/10/23 | 2/9/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,131,547 | 920,888 | 1,035,165 | 1,067,355 | 973,038 | 1,022,313 | 1,086,663 | 1,144,192 |
| EBITDA 1 | 172,241 | 82,411 | 111,434 | 122,290 | 91,819 | 132,951 | 165,014 | 181,338 |
| EBIT 1 | 113,831 | 14,963 | 41,586 | 46,572 | 28,133 | 48,274 | 89,319 | 104,149 |
| Operating Margin | 10.06% | 1.62% | 4.02% | 4.36% | 2.89% | 4.72% | 8.22% | 9.1% |
| Earnings before Tax (EBT) 1 | 107,378 | -2,040 | 73,256 | 50,428 | 31,037 | 37,585 | 88,134 | 105,061 |
| Net income 1 | 73,562 | -11,660 | 42,439 | 34,202 | 21,749 | 25,089 | 60,993 | 73,099 |
| Net margin | 6.5% | -1.27% | 4.1% | 3.2% | 2.24% | 2.45% | 5.61% | 6.39% |
| EPS 2 | 184.2 | -29.19 | 106.2 | 85.60 | 54.43 | 62.79 | 152.6 | 182.9 |
| Free Cash Flow 1 | -56,650 | -6,039 | 26,194 | 5,427 | 53,490 | 50,310 | 74,083 | 89,321 |
| FCF margin | -5.01% | -0.66% | 2.53% | 0.51% | 5.5% | 4.92% | 6.82% | 7.81% |
| FCF Conversion (EBITDA) | - | - | 23.51% | 4.44% | 58.26% | 37.84% | 44.89% | 49.26% |
| FCF Conversion (Net income) | - | - | 61.72% | 15.87% | 245.94% | 200.52% | 121.46% | 122.19% |
| Dividend per Share 2 | 60.00 | 40.00 | 50.00 | 100.0 | 60.00 | 60.00 | 63.80 | 68.56 |
| Announcement Date | 2/6/20 | 2/9/21 | 2/9/22 | 2/10/23 | 2/9/24 | - | - | - |
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 | 2025 S1 | 2025 S2 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 566,900 | 417,812 | 503,076 | 507,687 | 237,700 | 289,778 | 527,478 | 234,023 | 259,376 | 493,399 | 269,344 | 304,612 | 573,956 | 240,009 | 254,180 | 494,189 | 228,228 | 250,621 | 478,849 | 240,753 | 260,773 | 523,300 | 249,204 | 272,568 | 495,100 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | 17,100 | 25,950 | - | 31,505 | 81,935 | - | 24,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 44,851 | -3,436 | 18,399 | 23,012 | 3,200 | 15,374 | 18,574 | 4,376 | 12,603 | 16,979 | 18,681 | 10,912 | 29,593 | 10,525 | 3,107 | 13,632 | 12,194 | 2,307 | 14,501 | 10,611 | 9,650 | 30,500 | 17,941 | 14,408 | 31,300 | - | - | - |
| Operating Margin | 7.91% | -0.82% | 3.66% | 4.53% | 1.35% | 5.31% | 3.52% | 1.87% | 4.86% | 3.44% | 6.94% | 3.58% | 5.16% | 4.39% | 1.22% | 2.76% | 5.34% | 0.92% | 3.03% | 4.41% | 3.7% | 5.83% | 7.2% | 5.29% | 6.32% | - | - | - |
| Earnings before Tax (EBT) 1 | - | -22,421 | - | -16,522 | 78,881 | 10,897 | 89,778 | 8,155 | 17,456 | 25,611 | 17,974 | 6,843 | - | 10,319 | 5,072 | 15,391 | 13,330 | - | - | 10,600 | - | - | - | - | - | - | - | - |
| Net income 1 | 21,110 | -21,376 | 9,716 | -17,278 | 54,000 | 5,717 | 59,717 | 4,399 | 11,847 | 16,246 | 12,800 | 5,156 | - | 8,680 | 3,073 | 11,753 | 8,764 | - | - | 6,900 | - | - | - | - | - | - | - | - |
| Net margin | 3.72% | -5.12% | 1.93% | -3.4% | 22.72% | 1.97% | 11.32% | 1.88% | 4.57% | 3.29% | 4.75% | 1.69% | - | 3.62% | 1.21% | 2.38% | 3.84% | - | - | 2.87% | - | - | - | - | - | - | - | - |
| EPS 2 | 52.85 | -53.51 | 24.32 | -43.25 | 135.3 | 14.23 | - | 11.01 | 29.66 | 40.67 | 32.03 | 12.90 | - | 21.72 | 7.700 | 29.42 | 21.92 | - | - | 12.50 | 2.005 | - | 21.64 | 22.88 | - | - | - | - |
| Dividend per Share | - | 20.00 | - | 20.00 | - | 30.00 | 30.00 | - | 25.00 | 25.00 | - | 75.00 | - | - | 30.00 | 30.00 | - | - | 30.00 | - | - | 30.00 | - | - | 30.00 | 34.00 | 34.00 | 36.00 |
| Announcement Date | 2/6/20 | 8/6/20 | 2/9/21 | 8/5/21 | 11/10/21 | 2/9/22 | 2/9/22 | 5/12/22 | 8/10/22 | 8/10/22 | 11/10/22 | 2/10/23 | 2/10/23 | 5/12/23 | 8/8/23 | 8/8/23 | 11/10/23 | 2/9/24 | 2/9/24 | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 137,765 | 149,069 | - | 178,152 | 176,296 | 156,163 | 133,356 | 109,791 |
| Net Cash position 1 | - | - | 25,411 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.7998 x | 1.809 x | - | 1.457 x | 1.92 x | 1.175 x | 0.8081 x | 0.6055 x |
| Free Cash Flow 1 | -56,650 | -6,039 | 26,194 | 5,427 | 53,490 | 50,310 | 74,083 | 89,321 |
| ROE (net income / shareholders' equity) | 15.6% | -2.4% | 8.2% | 6% | 3.6% | 4.07% | 9.77% | 10.9% |
| ROA (Net income/ Total Assets) | 9.76% | 0.8% | 3.76% | 4.06% | 2.42% | 2.2% | 5.11% | 5.97% |
| Assets 1 | 753,762 | -1,465,690 | 1,128,106 | 843,392 | 898,058 | 1,140,414 | 1,192,598 | 1,225,126 |
| Book Value Per Share 2 | 1,243 | 1,212 | 1,364 | 1,512 | 1,548 | 1,556 | 1,656 | 1,767 |
| Cash Flow per Share 2 | 324.0 | 122.0 | 264.0 | 275.0 | 243.0 | 295.0 | 363.0 | 404.0 |
| Capex 1 | 132,200 | 79,914 | 96,693 | 66,204 | 55,675 | 61,363 | 61,478 | 60,726 |
| Capex / Sales | 11.68% | 8.68% | 9.34% | 6.2% | 5.72% | 6% | 5.66% | 5.31% |
| Announcement Date | 2/6/20 | 2/9/21 | 2/9/22 | 2/10/23 | 2/9/24 | - | - | - |
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
OUTPERFORM
Number of Analysts
12
Last Close Price
4,196
JPY
Average target price
4,784
JPY
Spread / Average Target
+14.00%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.32% | 10.65B | |
| -3.33% | 249B | |
| +10.09% | 18.86B | |
| 0.00% | 17.37B | |
| -7.73% | 10.26B | |
| +3.86% | 6.72B | |
| +9.76% | 5.94B | |
| -0.06% | 4.55B | |
| -16.98% | 3.83B | |
| -6.25% | 3.48B |
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- Financials Shiseido Company, Limited
