UNICHARM CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,636 JPY | -0.02% |
|
+4.79% | -9.06% |
| Apr. 02 | Unicharm Skips Share Buyback in March | MT |
| Apr. 01 | Tranche Update on Unicharm Corporation's Equity Buyback Plan announced on February 7, 2024. | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,197,647 | 2,929,549 | 2,977,963 | 3,006,792 | 3,009,033 | 2,736,300 | - | - |
| Enterprise Value (EV) 1 | 2,106,726 | 2,763,204 | 2,708,978 | 2,726,211 | 2,677,383 | 2,470,682 | 2,412,968 | 2,349,278 |
| P/E ratio | 47.7 x | 55.8 x | 41 x | 44.6 x | 35.1 x | 29 x | 26.4 x | 24 x |
| Yield | 0.76% | 0.65% | 0.72% | 0.75% | 0.78% | 0.93% | 1.01% | 1.08% |
| Capitalization / Revenue | 3.08 x | 4.03 x | 3.8 x | 3.35 x | 3.2 x | 2.72 x | 2.56 x | 2.42 x |
| EV / Revenue | 2.95 x | 3.8 x | 3.46 x | 3.04 x | 2.84 x | 2.46 x | 2.26 x | 2.08 x |
| EV / EBITDA | 16.4 x | 18.3 x | 16.9 x | 16.9 x | 15.6 x | 13.3 x | 11.9 x | 10.9 x |
| EV / FCF | 72.9 x | 25 x | 39.4 x | 32 x | 23.1 x | 27 x | 23 x | 20.4 x |
| FCF Yield | 1.37% | 4% | 2.54% | 3.12% | 4.33% | 3.7% | 4.34% | 4.9% |
| Price to Book | 4.68 x | 5.95 x | 5.35 x | 4.86 x | 4.32 x | 3.74 x | 3.43 x | 3.14 x |
| Nbr of stocks (in thousands) | 593,959 | 598,845 | 595,712 | 593,290 | 590,238 | 590,229 | - | - |
| Reference price 2 | 3,700 | 4,892 | 4,999 | 5,068 | 5,098 | 4,636 | 4,636 | 4,636 |
| Announcement Date | 2/13/20 | 2/15/21 | 2/15/22 | 2/8/23 | 2/7/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 714,233 | 727,475 | 782,723 | 898,022 | 941,790 | 1,005,690 | 1,067,262 | 1,128,520 |
| EBITDA 1 | 128,455 | 150,909 | 160,408 | 161,052 | 171,227 | 186,164 | 202,393 | 216,520 |
| EBIT 1 | 89,779 | 114,744 | 122,482 | 119,566 | 127,974 | 143,415 | 158,784 | 172,475 |
| Operating Margin | 12.57% | 15.77% | 15.65% | 13.31% | 13.59% | 14.26% | 14.88% | 15.28% |
| Earnings before Tax (EBT) 1 | 69,538 | 95,849 | 121,977 | 115,708 | 132,308 | 146,815 | 161,594 | 176,407 |
| Net income 1 | 46,116 | 52,344 | 72,745 | 67,608 | 86,053 | 93,128 | 101,626 | 111,467 |
| Net margin | 6.46% | 7.2% | 9.29% | 7.53% | 9.14% | 9.26% | 9.52% | 9.88% |
| EPS 2 | 77.53 | 87.60 | 121.8 | 113.6 | 145.4 | 160.1 | 175.9 | 193.3 |
| Free Cash Flow 1 | 28,914 | 110,622 | 68,701 | 85,071 | 115,929 | 91,494 | 104,770 | 115,020 |
| FCF margin | 4.05% | 15.21% | 8.78% | 9.47% | 12.31% | 9.1% | 9.82% | 10.19% |
| FCF Conversion (EBITDA) | 22.51% | 73.3% | 42.83% | 52.82% | 67.7% | 49.15% | 51.77% | 53.12% |
| FCF Conversion (Net income) | 62.7% | 211.34% | 94.44% | 125.83% | 134.72% | 98.25% | 103.09% | 103.19% |
| Dividend per Share 2 | 28.00 | 32.00 | 36.00 | 38.00 | 40.00 | 43.25 | 46.75 | 50.25 |
| Announcement Date | 2/13/20 | 2/15/21 | 2/15/22 | 2/8/23 | 2/7/24 | - | - | - |
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 | 371,735 | 356,553 | 370,922 | 376,960 | 194,918 | 210,845 | 405,763 | 204,373 | 217,241 | 421,614 | 232,934 | 243,474 | 476,408 | 220,839 | 233,061 | 453,900 | 233,494 | 254,359 | 487,853 | 237,420 | 249,200 | 481,700 | 253,040 | 276,980 | 527,700 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 50,559 | 55,327 | 59,417 | 61,783 | 35,634 | 25,065 | 60,699 | 29,948 | 25,473 | 55,421 | 36,241 | 27,904 | 64,145 | 28,427 | 30,273 | 58,700 | 33,989 | 35,238 | - | 33,240 | 35,180 | 70,300 | 38,700 | 39,180 | 74,100 | - | - | - |
| Operating Margin | 13.6% | 15.52% | 16.02% | 16.39% | 18.28% | 11.89% | 14.96% | 14.65% | 11.73% | 13.14% | 15.56% | 11.46% | 13.46% | 12.87% | 12.99% | 12.93% | 14.56% | 13.85% | - | 14% | 14.12% | 14.59% | 15.29% | 14.15% | 14.04% | - | - | - |
| Earnings before Tax (EBT) 1 | 30,536 | 39,093 | 56,756 | 64,756 | 36,895 | 20,326 | 57,221 | 30,777 | 25,595 | 56,372 | 35,044 | 24,292 | - | 28,206 | 32,794 | 61,000 | 40,053 | 31,266 | - | 33,100 | - | - | - | - | - | - | - | - |
| Net income 1 | 20,818 | 19,278 | 33,129 | 39,963 | 21,985 | 10,797 | 32,782 | 16,826 | 14,938 | 31,764 | 20,710 | 15,134 | - | 16,516 | 18,184 | 34,700 | 26,326 | - | - | 19,800 | - | - | - | - | - | - | - | - |
| Net margin | 5.6% | 5.41% | 8.93% | 10.6% | 11.28% | 5.12% | 8.08% | 8.23% | 6.88% | 7.53% | 8.89% | 6.22% | - | 7.48% | 7.8% | 7.64% | 11.27% | - | - | 8.34% | - | - | - | - | - | - | - | - |
| EPS 2 | 35.02 | 32.30 | 55.30 | 66.77 | 36.87 | 18.14 | 55.01 | 28.22 | 25.04 | 53.26 | 34.84 | 25.51 | - | 27.84 | 30.63 | 58.47 | 44.52 | - | - | 32.74 | 36.32 | - | 40.76 | 48.09 | - | - | - | - |
| Dividend per Share | - | 16.00 | - | 18.00 | - | 18.00 | - | - | 19.00 | 19.00 | - | 19.00 | - | - | 20.00 | 20.00 | - | - | - | - | - | 20.00 | - | - | 20.00 | 22.00 | 22.00 | 24.00 |
| Announcement Date | 2/13/20 | 8/5/20 | 2/15/21 | 8/4/21 | 11/5/21 | 2/15/22 | 2/15/22 | 5/9/22 | 8/4/22 | 8/4/22 | 11/7/22 | 2/8/23 | 2/8/23 | 5/8/23 | 8/4/23 | 8/4/23 | 11/7/23 | 2/7/24 | 2/7/24 | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 90,921 | 166,345 | 268,985 | 280,581 | 331,650 | 265,617 | 323,331 | 387,021 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 28,914 | 110,622 | 68,701 | 85,071 | 115,929 | 91,494 | 104,770 | 115,020 |
| ROE (net income / shareholders' equity) | 10.1% | 10.8% | 13.8% | 11.5% | 13.1% | 12.5% | 12.8% | 13% |
| ROA (Net income/ Total Assets) | 8.38% | 10.9% | 13% | 11.4% | 12.1% | 8.9% | 8.42% | 8.6% |
| Assets 1 | 550,266 | 479,870 | 560,918 | 595,071 | 709,860 | 1,046,914 | 1,206,478 | 1,295,922 |
| Book Value Per Share 2 | 791.0 | 822.0 | 935.0 | 1,043 | 1,179 | 1,240 | 1,351 | 1,475 |
| Cash Flow per Share 2 | 143.0 | 148.0 | 185.0 | 183.0 | 219.0 | 266.0 | 299.0 | 323.0 |
| Capex 1 | 56,022 | 39,632 | 36,552 | 42,627 | 46,486 | 45,000 | 44,700 | 45,275 |
| Capex / Sales | 7.84% | 5.45% | 4.67% | 4.75% | 4.94% | 4.47% | 4.19% | 4.01% |
| Announcement Date | 2/13/20 | 2/15/21 | 2/15/22 | 2/8/23 | 2/7/24 | - | - | - |
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
9
Last Close Price
4,636
JPY
Average target price
5,653
JPY
Spread / Average Target
+21.94%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.06% | 17.38B | |
| +11.30% | 45.54B | |
| -9.81% | 3.89B | |
| +3.08% | 3.6B | |
| -13.60% | 1.56B | |
| +40.30% | 1.26B | |
| +13.83% | 928M | |
| +24.39% | 820M | |
| +25.47% | 436M | |
| -22.09% | 370M |
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- Financials Unicharm Corporation
