THE YOKOHAMA RUBBER CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,957 JPY | +0.76% |
|
+0.53% | +22.39% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 341,809 | 246,296 | 296,015 | 330,717 | 519,696 | 636,079 | - | - |
| Enterprise Value (EV) 1 | 553,770 | 420,671 | 425,744 | 493,846 | 891,439 | 979,151 | 938,608 | 895,956 |
| P/E ratio | 8.15 x | 9.35 x | 4.51 x | 7.19 x | 7.71 x | 8.12 x | 7.74 x | 7.26 x |
| Yield | 3% | 4.17% | 3.53% | 3.21% | 2.6% | 2.44% | 2.6% | 2.81% |
| Capitalization / Revenue | 0.53 x | 0.43 x | 0.44 x | 0.38 x | 0.53 x | 0.59 x | 0.56 x | 0.54 x |
| EV / Revenue | 0.85 x | 0.74 x | 0.63 x | 0.57 x | 0.9 x | 0.9 x | 0.83 x | 0.76 x |
| EV / EBITDA | 5.49 x | 5.2 x | 3.3 x | 4.16 x | 5.58 x | 5.31 x | 4.98 x | 4.53 x |
| EV / FCF | 23 x | 8.44 x | 6.67 x | -69.3 x | -4.84 x | 18.5 x | 15.7 x | 13.5 x |
| FCF Yield | 4.34% | 11.9% | 15% | -1.44% | -20.7% | 5.41% | 6.39% | 7.41% |
| Price to Book | 0.82 x | 0.59 x | 0.56 x | 0.54 x | 0.7 x | 0.79 x | 0.73 x | 0.67 x |
| Nbr of stocks (in thousands) | 160,398 | 160,558 | 160,616 | 160,698 | 160,747 | 160,748 | - | - |
| Reference price 2 | 2,131 | 1,534 | 1,843 | 2,058 | 3,233 | 3,957 | 3,957 | 3,957 |
| Announcement Date | 2/14/20 | 2/19/21 | 2/17/22 | 2/17/23 | 2/16/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 650,462 | 570,572 | 670,809 | 860,477 | 985,333 | 1,083,842 | 1,127,316 | 1,178,021 |
| EBITDA 1 | 100,946 | 80,876 | 129,196 | 118,765 | 159,845 | 184,377 | 188,565 | 197,826 |
| EBIT 1 | 58,564 | 36,409 | 83,636 | 68,851 | 100,351 | 121,550 | 127,321 | 134,218 |
| Operating Margin | 9% | 6.38% | 12.47% | 8% | 10.18% | 11.21% | 11.29% | 11.39% |
| Earnings before Tax (EBT) 1 | 57,764 | 33,913 | 85,199 | 71,622 | 105,975 | 120,695 | 126,059 | 132,525 |
| Net income 1 | 41,971 | 26,312 | 65,500 | 45,918 | 67,234 | 78,312 | 82,211 | 87,504 |
| Net margin | 6.45% | 4.61% | 9.76% | 5.34% | 6.82% | 7.23% | 7.29% | 7.43% |
| EPS 2 | 261.6 | 164.1 | 408.5 | 286.4 | 419.3 | 487.3 | 511.1 | 544.9 |
| Free Cash Flow 1 | 24,035 | 49,861 | 63,824 | -7,126 | -184,274 | 52,958 | 59,968 | 66,412 |
| FCF margin | 3.7% | 8.74% | 9.51% | -0.83% | -18.7% | 4.89% | 5.32% | 5.64% |
| FCF Conversion (EBITDA) | 23.81% | 61.65% | 49.4% | - | - | 28.72% | 31.8% | 33.57% |
| FCF Conversion (Net income) | 57.27% | 189.5% | 97.44% | - | - | 67.62% | 72.94% | 75.9% |
| Dividend per Share 2 | 64.00 | 64.00 | 65.00 | 66.00 | 84.00 | 96.50 | 103.0 | 111.2 |
| Announcement Date | 2/14/20 | 2/19/21 | 2/17/22 | 2/17/23 | 2/16/24 | - | - | - |
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 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 S1 | 2025 S2 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 339,356 | 247,118 | 323,454 | 303,888 | 156,567 | 210,354 | 366,921 | 185,590 | 205,893 | 391,483 | 224,281 | 244,713 | 204,314 | 238,850 | 443,164 | 249,341 | 292,828 | 254,860 | 260,980 | 502,400 | 266,640 | 301,220 | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 33,441 | 2,946 | 33,463 | 48,649 | 10,677 | 24,310 | 34,987 | 13,532 | 13,412 | 26,944 | 18,383 | 23,524 | 13,206 | 14,976 | 28,182 | 24,184 | 47,985 | 23,540 | 23,260 | 46,100 | 27,800 | 46,980 | - | - | - | - |
| Operating Margin | 9.85% | 1.19% | 10.35% | 16.01% | 6.82% | 11.56% | 9.54% | 7.29% | 6.51% | 6.88% | 8.2% | 9.61% | 6.46% | 6.27% | 6.36% | 9.7% | 16.39% | 9.24% | 8.91% | 9.18% | 10.43% | 15.6% | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | 333 | - | 50,406 | 9,793 | 25,000 | - | 14,463 | 19,574 | 34,037 | 17,489 | 20,096 | 14,251 | 22,816 | 37,067 | 23,061 | 45,847 | 23,500 | 22,500 | 42,100 | 25,700 | 46,750 | - | - | - | - |
| Net income 1 | 25,250 | 1,257 | 25,055 | 36,933 | 6,546 | 22,021 | - | 10,156 | 13,151 | 23,307 | 9,977 | 12,634 | 9,705 | 17,973 | 27,678 | 16,905 | 22,651 | 16,012 | 15,362 | 28,300 | 17,138 | 28,862 | - | - | - | - |
| Net margin | 7.44% | 0.51% | 7.75% | 12.15% | 4.18% | 10.47% | - | 5.47% | 6.39% | 5.95% | 4.45% | 5.16% | 4.75% | 7.52% | 6.25% | 6.78% | 7.74% | 6.28% | 5.89% | 5.63% | 6.43% | 9.58% | - | - | - | - |
| EPS 2 | - | 7.840 | - | 230.3 | 40.83 | 137.3 | - | 63.34 | 82.02 | 145.4 | 62.23 | - | 60.53 | 112.1 | 172.6 | 105.4 | - | 111.0 | 104.8 | - | 117.2 | 154.0 | - | - | - | - |
| Dividend per Share | - | 32.00 | - | 32.00 | - | - | - | - | - | 33.00 | - | - | - | - | 34.00 | - | - | - | - | 42.00 | - | - | 50.00 | 43.00 | 54.00 | 44.00 |
| Announcement Date | 2/14/20 | 8/7/20 | 2/19/21 | 8/11/21 | 11/12/21 | 2/17/22 | 2/17/22 | 5/13/22 | 8/10/22 | 8/10/22 | 11/11/22 | 2/17/23 | 5/12/23 | 8/10/23 | 8/10/23 | 11/10/23 | 2/16/24 | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 211,961 | 174,375 | 129,729 | 163,129 | 371,743 | 343,072 | 302,529 | 259,877 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.1 x | 2.156 x | 1.004 x | 1.374 x | 2.326 x | 1.861 x | 1.604 x | 1.314 x |
| Free Cash Flow 1 | 24,035 | 49,861 | 63,824 | -7,126 | -184,274 | 52,958 | 59,968 | 66,412 |
| ROE (net income / shareholders' equity) | 10.6% | 6.3% | 13.9% | 8.1% | 9.9% | 10.2% | 9.95% | 9.71% |
| ROA (Net income/ Total Assets) | 4.67% | 3.84% | 9.23% | 6.71% | 7.7% | 6.3% | 6.3% | 6.33% |
| Assets 1 | 899,160 | 685,841 | 709,346 | 684,732 | 872,831 | 1,243,055 | 1,304,942 | 1,383,456 |
| Book Value Per Share 2 | 2,611 | 2,591 | 3,276 | 3,823 | 4,601 | 5,005 | 5,433 | 5,888 |
| Cash Flow per Share 2 | 526.0 | 441.0 | 693.0 | 598.0 | 790.0 | 981.0 | 949.0 | 998.0 |
| Capex 1 | 51,339 | 28,433 | 38,759 | 54,942 | 62,412 | 91,800 | 85,987 | 84,816 |
| Capex / Sales | 7.89% | 4.98% | 5.78% | 6.39% | 6.33% | 8.47% | 7.63% | 7.2% |
| Announcement Date | 2/14/20 | 2/19/21 | 2/17/22 | 2/17/23 | 2/16/24 | - | - | - |
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
B+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
3,957
JPY
Average target price
4,400
JPY
Spread / Average Target
+11.20%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +22.39% | 4.04B | |
| +15.15% | 29.25B | |
| +40.43% | 7.18B | |
| -17.32% | 3.36B | |
| -9.22% | 3.29B | |
| +41.51% | 3.29B | |
| +20.79% | 3.09B | |
| +21.78% | 2.81B | |
| -3.24% | 2.24B | |
| +9.95% | 1.34B |
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