Financials Nxera Pharma Co., Ltd.

Equities

4565

JP3431300007

Pharmaceuticals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
1,458 ^JPY	-2.47%		+0.55%	+2.60%

Apr. 18	Nxera Pharma Initiates Restricted Stock Unit Plans, Starting with Shares Worth 164 Million Yen in Total in May	MT
Apr. 17	Nxera Pharma's Neuro Drug NBI-1117568 Passed Preclinical Toxicity Test	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	167,282	145,054	155,210	175,151	127,103	130,413	-	-
Enterprise Value (EV) ¹	153,786	121,669	124,394	138,328	152,011	119,600	118,205	113,118
P/E ratio	116 x	95.9 x	325 x	457 x	-16.3 x	65.1 x	25.7 x	15 x
Yield	-	-	-	-	-	-	0.05%	0.34%
Capitalization / Revenue	17.2 x	16.4 x	8.76 x	11.3 x	9.96 x	3.7 x	3.35 x	2.93 x
EV / Revenue	15.8 x	13.8 x	7.02 x	8.88 x	11.9 x	3.4 x	3.04 x	2.54 x
EV / EBITDA	82.1 x	53.4 x	24.6 x	28.9 x	-21.6 x	28.6 x	16.3 x	12.2 x
EV / FCF	48.1 x	26.6 x	18 x	12.6 x	-2.2 x	36.3 x	14.9 x	10.8 x
FCF Yield	2.08%	3.76%	5.55%	7.95%	-45.4%	2.75%	6.7%	9.25%
Price to Book	3.71 x	2.77 x	2.7 x	3.02 x	1.9 x	1.92 x	1.8 x	1.65 x
Nbr of stocks (in thousands)	77,053	80,586	81,518	81,923	89,446	89,446	-	-
Reference price ²	2,171	1,800	1,904	2,138	1,421	1,458	1,458	1,458
Announcement Date	2/13/20	2/12/21	2/10/22	2/14/23	2/13/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	9,726	8,842	17,712	15,569	12,766	35,223	38,941	44,550
EBITDA ¹	1,873	2,278	5,053	4,781	-7,048	4,185	7,268	9,239
EBIT ¹	384	928	3,775	3,436	-9,526	3,754	5,595	7,772
Operating Margin	3.95%	10.5%	21.31%	22.07%	-74.62%	10.66%	14.37%	17.45%
Earnings before Tax (EBT) ¹	534	1,622	433	1,078	-10,680	2,587	5,754	8,036
Net income ¹	1,432	1,479	475	382	-7,913	950.8	3,470	6,330
Net margin	14.72%	16.73%	2.68%	2.45%	-61.98%	2.7%	8.91%	14.21%
EPS ²	18.70	18.77	5.860	4.680	-87.18	22.40	56.72	97.52
Free Cash Flow ¹	3,195	4,580	6,902	10,995	-69,064	3,295	7,921	10,459
FCF margin	32.85%	51.8%	38.97%	70.62%	-541%	9.35%	20.34%	23.48%
FCF Conversion (EBITDA)	170.58%	201.05%	136.59%	229.97%	-	78.73%	108.99%	113.2%
FCF Conversion (Net income)	223.11%	309.67%	1,453.05%	2,878.27%	-	346.52%	228.27%	165.22%
Dividend per Share ²	-	-	-	-	-	-	0.7156	5.000
Announcement Date	2/13/20	2/12/21	2/10/22	2/14/23	2/13/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	4,670	2,516	3,123	-	14,122	14,589	1,119	1,338	2,457	6,184	6,928	13,112	943	2,146	3,328	7,292	11,300	6,000	6,700	14,100	-
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,300	-4,100	-4,500	6,700	-
EBIT ¹	-347	-1,136	-1,849	-2,376	8,043	5,624	-2,206	-	-3,804	3,189	4,051	7,240	-1,964	-4,168	-3,554	-1,534	2,300	-4,100	-4,500	6,700	-
Operating Margin	-7.43%	-45.15%	-59.21%	-	56.95%	38.55%	-197.14%	-	-154.82%	51.57%	58.47%	55.22%	-208.27%	-194.22%	-106.79%	-21.04%	20.35%	-68.33%	-67.16%	47.52%	-
Earnings before Tax (EBT) ¹	242	-1,270	-1,393	-2,759	4,585	1,826	-2,497	-	-4,282	1,174	4,186	5,360	-1,863	-3,760	-4,105	-2,815	2,250	-4,150	-4,550	6,650	-
Net income ¹	1,037	-2,117	-2,297	472	2,300	2,772	-2,070	-	-3,538	313	3,607	3,920	-1,402	-2,060	-4,925	-928	2,950	-5,550	-6,050	8,950	-
Net margin	22.21%	-84.14%	-73.55%	-	16.29%	19%	-184.99%	-	-144%	5.06%	52.06%	29.9%	-148.67%	-95.99%	-147.99%	-12.73%	26.11%	-92.5%	-90.3%	63.48%	-
EPS ²	-	-27.45	-28.38	5.880	-	-	-25.39	-	-43.33	3.870	-	-	-17.11	-25.13	-59.92	-2.130	18.86	-32.65	-35.68	55.21	-
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/13/20	8/13/20	8/12/21	11/11/21	2/10/22	2/10/22	5/13/22	8/10/22	8/10/22	11/11/22	2/14/23	2/14/23	5/12/23	8/4/23	11/10/23	2/13/24	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	24,908	-	-	-
Net Cash position ¹	13,496	23,385	30,816	36,823	-	10,813	12,208	17,295
Leverage (Debt/EBITDA)	-	-	-	-	-3.534 x	-	-	-
Free Cash Flow ¹	3,195	4,580	6,902	10,995	-69,064	3,295	7,921	10,459
ROE (net income / shareholders' equity)	3.3%	3%	0.87%	0.7%	-11.5%	4.67%	7.71%	9.46%
ROA (Net income/ Total Assets)	2.48%	2.44%	0.55%	1.1%	-8.32%	1.36%	2.85%	3.75%
Assets ¹	57,834	60,703	86,679	34,798	95,065	70,170	121,911	168,828
Book Value Per Share ²	585.0	650.0	705.0	707.0	747.0	758.0	812.0	884.0
Cash Flow per Share ²	38.10	35.90	28.30	21.10	-57.10	73.00	137.0	160.0
Capex ¹	271	92	193	102	804	1,520	1,599	1,761
Capex / Sales	2.79%	1.04%	1.09%	0.66%	6.3%	4.32%	4.11%	3.95%
Announcement Date	2/13/20	2/12/21	2/10/22	2/14/23	2/13/24	-	-	-

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 Nxera Pharma Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,458 JPY

Average target price

2,100 JPY

Spread / Average Target

+44.03%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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