Financials Tokyu Construction Co., Ltd.

Equities

1720

JP3567410000

Construction & Engineering

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-30 am EDT			5-day change	1st Jan Change
850 ^JPY	+1.07%		+1.31%	+6.65%

2023	Tokyu Construction Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024	CI
2023	Tokyu Construction Co., Ltd. Declares Dividend for the Second Quarter of Fiscal Year Ending March 31, 2024, Payable on December 4, 2023; Provides Dividend Guidance for the Full Year Ending March 31, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	88,490	60,662	62,999	70,350	70,925	88,699	-	-
Enterprise Value (EV) ¹	41,275	57,882	55,744	54,359	34,419	88,699	88,699	88,699
P/E ratio	5.71 x	4.07 x	24.1 x	-9.43 x	13.5 x	15.8 x	15.3 x	11 x
Yield	3.61%	5.27%	1.66%	3.72%	5.33%	4.28%	4.34%	4.4%
Capitalization / Revenue	0.27 x	0.19 x	0.27 x	0.27 x	0.25 x	0.3 x	0.29 x	0.29 x
EV / Revenue	0.27 x	0.19 x	0.27 x	0.27 x	0.25 x	0.3 x	0.29 x	0.29 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	3,676,219 x	-1,468,283 x	7,610,461 x	6,868,069 x	3,112,097 x	-	-	-
FCF Yield	0%	-0%	0%	0%	0%	-	-	-
Price to Book	0.96 x	0.6 x	0.61 x	0.76 x	0.75 x	0.93 x	0.91 x	0.86 x
Nbr of stocks (in thousands)	106,615	106,612	104,650	104,687	105,074	105,469	-	-
Reference price ²	830.0	569.0	602.0	672.0	675.0	841.0	841.0	841.0
Announcement Date	5/9/19	5/11/20	5/12/21	5/12/22	5/10/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	331,437	322,170	231,483	258,083	288,867	293,000	306,750	310,250
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	21,987	20,315	3,549	-6,078	5,107	6,300	6,900	9,800
Operating Margin	6.63%	6.31%	1.53%	-2.36%	1.77%	2.15%	2.25%	3.16%
Earnings before Tax (EBT) ¹	22,932	21,831	4,671	-4,864	7,711	7,600	7,800	9,300
Net income ¹	15,504	14,903	2,647	-7,459	5,245	5,600	5,775	8,050
Net margin	4.68%	4.63%	1.14%	-2.89%	1.82%	1.91%	1.88%	2.59%
EPS ²	145.4	139.8	24.95	-71.26	49.99	53.10	54.80	76.45
Free Cash Flow	24,071	-41,315	8,278	10,243	22,790	-	-	-
FCF margin	7.26%	-12.82%	3.58%	3.97%	7.89%	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	155.26%	-	312.73%	-	434.51%	-	-	-
Dividend per Share ²	30.00	30.00	10.00	25.00	36.00	36.00	36.50	37.00
Announcement Date	5/9/19	5/11/20	5/12/21	5/12/22	5/10/23	-	-	-

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
Net sales ¹	183,415	138,755	95,423	136,060	55,281	111,614	69,682	76,787	146,469	61,468	67,374	128,842	72,177	87,848	160,025	62,860	71,822	134,682	70,516	87,802	158,318
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	16,320	3,995	1,192	2,357	-7,085	-7,152	2,170	-1,096	1,074	-517	683	166	1,550	3,391	4,941	229	1,814	2,043	571	3,686	4,257
Operating Margin	8.9%	2.88%	1.25%	1.73%	-12.82%	-6.41%	3.11%	-1.43%	0.73%	-0.84%	1.01%	0.13%	2.15%	3.86%	3.09%	0.36%	2.53%	1.52%	0.81%	4.2%	2.69%
Earnings before Tax (EBT) ¹	16,972	4,859	1,396	3,275	-7,087	-7,240	3,011	-	-	-186	688	502	3,655	3,554	7,209	928	2,099	3,027	650	4,126	4,757
Net income ¹	11,516	3,387	759	1,888	-7,401	-7,668	2,216	-2,007	209	-340	56	-284	2,591	2,938	5,529	769	1,741	2,510	487	2,603	3,090
Net margin	6.28%	2.44%	0.8%	1.39%	-13.39%	-6.87%	3.18%	-2.61%	0.14%	-0.55%	0.08%	-0.22%	3.59%	3.34%	3.46%	1.22%	2.42%	1.86%	0.69%	2.96%	1.95%
EPS	108.0	-	7.120	-	-	-73.27	21.18	-	-	-3.250	-	-2.720	24.72	-	-	7.320	-	23.85	4.620	-	-
Dividend per Share	10.00	-	-	-	-	20.00	-	-	-	-	-	18.00	-	-	-	-	-	18.00	-	-	-
Announcement Date	11/6/19	5/11/20	11/9/20	5/12/21	11/8/21	11/8/21	2/8/22	5/12/22	5/12/22	8/9/22	11/8/22	11/8/22	2/9/23	5/10/23	5/10/23	8/7/23	11/7/23	11/7/23	2/8/24	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	47,215	2,780	7,255	15,991	36,506	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	24,071	-41,315	8,278	10,243	22,790	-	-	-
ROE (net income / shareholders' equity)	18.1%	15.4%	2.6%	-7.6%	5.6%	4.2%	6%	9%
ROA (Net income/ Total Assets)	8.86%	8.77%	2.12%	-2.21%	2.06%	1.6%	2.2%	3.4%
Assets ¹	174,997	169,894	125,142	337,472	254,400	350,000	262,500	236,765
Book Value Per Share ²	869.0	949.0	984.0	883.0	906.0	907.0	926.0	973.0
Cash Flow per Share	155.0	152.0	37.10	-58.50	61.50	-	-	-
Capex ¹	5,623	7,876	3,351	2,256	854	2,400	2,500	2,500
Capex / Sales	1.7%	2.44%	1.45%	0.87%	0.3%	0.82%	0.81%	0.81%
Announcement Date	5/9/19	5/11/20	5/12/21	5/12/22	5/10/23	-	-	-

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 Tokyu Construction Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

841 JPY

Average target price

800 JPY

Spread / Average Target

-4.88%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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