Financials Asahi Intecc Co., Ltd.

Equities

7747

JP3110650003

Medical Equipment, Supplies & Distribution

Delayed Japan Exchange Other stock markets 10:08:17 27/06/2024 am IST			5-day change	1st Jan Change
2,277 ^JPY	+0.97%		+0.98%	-20.67%

17/06	Asahi Intecc Co., Ltd. Revises Dividend Guidance for the Fiscal Year Ending June 30, 2024	CI
16/05	Asahi Intecc's Profit Up Nearly 17% in Fiscal Q1-Q3	MT

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,90,574	7,98,502	7,05,102	5,56,289	7,63,540	6,16,998	-	-
Enterprise Value (EV) ¹	6,77,814	7,87,860	6,91,787	5,36,147	7,42,909	5,99,890	5,93,088	5,86,248
P/E ratio	61.3 x	87 x	69.4 x	51.2 x	58.3 x	38.1 x	33.5 x	29.4 x
Yield	0.81%	0.29%	0.42%	0.59%	0.52%	0.78%	0.89%	1%
Capitalization / Revenue	12.1 x	14.1 x	11.5 x	7.16 x	8.47 x	5.88 x	5.34 x	4.84 x
EV / Revenue	11.8 x	13.9 x	11.2 x	6.9 x	8.25 x	5.72 x	5.13 x	4.6 x
EV / EBITDA	36.4 x	47.3 x	39.3 x	24.7 x	27.8 x	19.1 x	17.2 x	15.3 x
EV / FCF	778 x	-4,040 x	-93.4 x	-383 x	159 x	100 x	67.7 x	49.5 x
FCF Yield	0.13%	-0.02%	-1.07%	-0.26%	0.63%	1%	1.48%	2.02%
Price to Book	5.28 x	11.1 x	7.61 x	4.66 x	5.77 x	4.25 x	3.93 x	3.57 x
Nbr of stocks (in thousands)	2,60,201	2,60,523	2,65,475	2,71,626	2,71,626	2,71,626	-	-
Reference price ²	2,654	3,065	2,656	2,048	2,811	2,272	2,272	2,272
Announcement Date	09/08/19	14/08/20	13/08/21	12/08/22	14/08/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	57,216	56,546	61,507	77,748	90,101	1,04,872	1,15,643	1,27,471
EBITDA ¹	18,629	16,643	17,614	21,678	26,741	31,452	34,498	38,218
EBIT ¹	15,168	12,445	12,795	15,239	18,030	22,322	25,312	28,708
Operating Margin	26.51%	22.01%	20.8%	19.6%	20.01%	21.29%	21.89%	22.52%
Earnings before Tax (EBT) ¹	14,957	12,658	13,132	15,730	17,743	21,986	24,987	28,677
Net income ¹	11,237	9,178	9,984	10,857	13,106	16,160	18,402	20,891
Net margin	19.64%	16.23%	16.23%	13.96%	14.55%	15.41%	15.91%	16.39%
EPS ²	43.29	35.25	38.25	40.01	48.25	59.68	67.90	77.16
Free Cash Flow ¹	871	-195	-7,407	-1,401	4,682	6,000	8,756	11,852
FCF margin	1.52%	-0.34%	-12.04%	-1.8%	5.2%	5.72%	7.57%	9.3%
FCF Conversion (EBITDA)	4.68%	-	-	-	17.51%	19.08%	25.38%	31.01%
FCF Conversion (Net income)	7.75%	-	-	-	35.72%	37.13%	47.58%	56.73%
Dividend per Share ²	21.61	8.810	11.26	11.99	14.48	17.63	20.32	22.80
Announcement Date	09/08/19	14/08/20	13/08/21	12/08/22	14/08/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2020 S1	2020 S2	2021 S1	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	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	30,948	25,598	28,301	19,582	37,702	18,982	21,064	22,658	22,777	45,435	24,339	20,327	28,713	25,628	54,341	26,392	25,414	27,242	27,824	28,342	28,462
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	8,708	3,737	6,186	4,344	8,101	3,883	3,255	4,686	5,265	9,951	6,467	1,612	8,045	5,453	13,498	6,158	3,476	6,551	6,448	7,128	5,321
Operating Margin	28.14%	14.6%	21.86%	22.18%	21.49%	20.46%	15.45%	20.68%	23.12%	21.9%	26.57%	7.93%	28.02%	21.28%	24.84%	23.33%	13.68%	24.05%	23.17%	25.15%	18.69%
Earnings before Tax (EBT) ¹	8,656	4,002	6,095	4,471	8,819	4,004	2,907	5,201	4,420	9,854	6,216	1,673	8,168	5,203	13,371	6,054	3,300	6,300	6,300	6,700	5,700
Net income ¹	6,158	3,020	4,451	3,051	6,383	2,478	1,996	4,049	3,424	7,473	4,512	1,121	6,076	3,744	9,820	4,220	2,170	4,904	4,675	5,185	3,347
Net margin	19.9%	11.8%	15.73%	15.58%	16.93%	13.05%	9.48%	17.87%	15.03%	16.45%	18.54%	5.51%	21.16%	14.61%	18.07%	15.99%	8.54%	18%	16.8%	18.29%	11.76%
EPS ²	23.66	-	17.08	11.23	23.54	9.120	-	14.91	12.61	27.52	16.60	4.130	22.37	13.78	36.15	15.54	7.545	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	14.48	-	-	-	-	19.00	-	-	-	21.00
Announcement Date	14/02/20	14/08/20	12/02/21	14/02/22	14/02/22	13/05/22	12/08/22	11/11/22	14/02/23	14/02/23	15/05/23	14/08/23	14/11/23	14/02/24	14/02/24	15/05/24	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	12,760	10,642	13,315	20,142	20,631	17,107	23,910	30,750
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	871	-195	-7,407	-1,401	4,682	6,000	8,756	11,852
ROE (net income / shareholders' equity)	18.9%	13.4%	12.1%	10.2%	10.4%	11.8%	12.3%	12.7%
ROA (Net income/ Total Assets)	18.9%	13.8%	12.6%	12.1%	10.8%	11.1%	10.5%	11.1%
Assets ¹	59,466	66,388	79,123	89,961	1,21,797	1,46,243	1,74,937	1,88,592
Book Value Per Share ²	503.0	276.0	349.0	440.0	487.0	535.0	578.0	637.0
Cash Flow per Share ²	113.0	51.40	56.70	63.70	75.90	96.50	106.0	121.0
Capex ¹	9,702	11,361	11,764	8,933	14,456	16,850	14,625	14,228
Capex / Sales	16.96%	20.09%	19.13%	11.49%	16.04%	16.07%	12.65%	11.16%
Announcement Date	09/08/19	14/08/20	13/08/21	12/08/22	14/08/23	-	-	-

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 Asahi Intecc Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,272 JPY

Average target price

3,262 JPY

Spread / Average Target

+43.59%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Medical Equipment

	1st Jan change	Capi.
ASAHI INTECC CO., LTD.	-20.67%	383.97Cr
SHOCKWAVE MEDICAL	+75.69%	1.26TCr
MASIMO CORPORATION	+12.50%	699.99Cr
PENUMBRA, INC.	-30.50%	677.69Cr
JIANGSU YUYUE MEDICAL EQUIPMENT & SUPPLY CO., LTD.	+9.11%	520.31Cr
GETINGE AB	-19.22%	467.11Cr
APT MEDICAL INC.	+19.81%	426.33Cr
INARI MEDICAL, INC.	-28.39%	270.28Cr
SKAN GROUP AG	-2.35%	197.69Cr
NOVOCURE LIMITED	+21.63%	195.42Cr

Medical Equipment