Financials Dai Nippon Printing Co., Ltd. Börse Stuttgart

Equities

DNP

JP3493800001

Commercial Printing Services

Real-time Estimate Tradegate Other stock markets 01:59:16 04/07/2024 pm IST			5-day change	1st Jan Change
31.8 ^EUR	+1.27%		+2.61%	0.00%

01/07	Tranche Update on Dai Nippon Printing Co., Ltd.'s Equity Buyback Plan announced on March 8, 2024.	CI
28/06	Dai Nippon Printing Co., Ltd. Announces Voting Results	CI

Valuation

Fiscal Period: Maart	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	6,46,310	6,51,385	7,74,374	8,91,942	11,23,844	13,07,499	-	-
Enterprise Value (EV) ¹	4,73,513	4,95,647	6,27,595	7,90,820	10,53,721	12,94,199	13,03,399	12,88,499
P/E ratio	9.78 x	26 x	8.09 x	11.5 x	10.5 x	13.4 x	14.6 x	14 x
Yield	2.78%	2.76%	2.22%	1.73%	1.37%	1.16%	1.18%	1.28%
Capitalization / Revenue	0.46 x	0.49 x	0.58 x	0.65 x	0.79 x	0.9 x	0.88 x	0.85 x
EV / Revenue	0.34 x	0.37 x	0.47 x	0.58 x	0.74 x	0.89 x	0.88 x	0.84 x
EV / EBITDA	4.28 x	4.94 x	5.3 x	6.97 x	7.97 x	9.43 x	8.5 x	7.79 x
EV / FCF	12.9 x	46.4 x	14.7 x	61 x	11.6 x	11.6 x	14 x	16 x
FCF Yield	7.77%	2.16%	6.82%	1.64%	8.63%	8.65%	7.16%	6.24%
Price to Book	0.71 x	0.62 x	0.71 x	0.89 x	0.96 x	1.09 x	1.11 x	1.05 x
Nbr of stocks (in thousands)	2,80,882	2,80,890	2,69,067	2,40,740	2,40,600	2,36,609	-	-
Reference price ²	2,301	2,319	2,878	3,705	4,671	5,526	5,526	5,526
Announcement Date	27/05/20	13/05/21	13/05/22	12/05/23	13/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Maart	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	14,01,894	13,35,439	13,44,147	13,73,209	14,24,822	14,57,433	14,88,733	15,37,650
EBITDA ¹	1,10,748	1,00,422	1,18,463	1,13,514	1,32,175	1,37,200	1,53,400	1,65,300
EBIT ¹	56,274	49,529	66,788	61,233	75,450	81,400	91,267	99,800
Operating Margin	4.01%	3.71%	4.97%	4.46%	5.3%	5.59%	6.13%	6.49%
Earnings before Tax (EBT) ¹	1,02,719	46,400	1,26,890	1,19,733	1,43,012	1,48,850	1,21,900	1,27,550
Net income ¹	69,497	25,088	97,182	85,692	1,10,929	97,300	86,400	85,050
Net margin	4.96%	1.88%	7.23%	6.24%	7.79%	6.68%	5.8%	5.53%
EPS ²	235.2	89.32	355.8	321.3	443.1	413.8	379.5	394.0
Free Cash Flow ¹	36,775	10,689	42,820	12,972	90,908	1,12,000	93,333	80,400
FCF margin	2.62%	0.8%	3.19%	0.94%	6.38%	7.68%	6.27%	5.23%
FCF Conversion (EBITDA)	33.21%	10.64%	36.15%	11.43%	68.78%	81.63%	60.84%	48.64%
FCF Conversion (Net income)	52.92%	42.61%	44.06%	15.14%	81.95%	115.11%	108.02%	94.53%
Dividend per Share ²	64.00	64.00	64.00	64.00	64.00	64.00	65.33	71.00
Announcement Date	27/05/20	13/05/21	13/05/22	12/05/23	13/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Maart	2020 S2	2021 S1	2022 S1	2022 Q3	2022 Q4	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 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2	2026 S1	2026 S2	2027 S1
Net sales ¹	-	6,44,638	6,57,168	3,44,492	3,42,487	3,34,433	3,34,049	6,68,482	3,55,078	3,49,649	-	3,45,098	3,48,654	6,93,752	3,67,500	3,63,570	-	3,55,950	3,54,850	-	3,78,750	3,77,600	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	17,563	30,831	18,427	17,530	16,917	10,674	27,591	16,992	16,650	-	13,282	14,250	27,532	24,470	23,448	-	15,600	15,750	-	24,650	25,100	-	-	-	-
Operating Margin	-	2.72%	4.69%	5.35%	5.12%	5.06%	3.2%	4.13%	4.79%	4.76%	-	3.85%	4.09%	3.97%	6.66%	6.45%	-	4.38%	4.44%	-	6.51%	6.65%	-	-	-	-
Earnings before Tax (EBT)	-	19,212	43,016	51,763	-	23,474	-	39,401	47,855	-	-	79,007	-	96,405	30,437	-	-	-	-	-	-	-	-	-	-	-
Net income	-	11,434	33,812	35,739	-	15,739	12,194	27,933	36,512	21,247	-	58,056	-	76,230	22,329	-	-	-	-	-	-	-	-	-	-	-
Net margin	-	1.77%	5.15%	10.37%	-	4.71%	3.65%	4.18%	10.28%	6.08%	-	16.82%	-	10.99%	6.08%	-	-	-	-	-	-	-	-	-	-	-
EPS	-	40.71	122.3	131.3	-	58.58	-	104.2	136.8	-	-	225.1	-	297.9	91.51	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	32.00	32.00	32.00	-	-	-	-	32.00	-	-	32.00	-	-	32.00	-	-	32.00	-	-	32.00	-	-	32.00	32.00	32.00	32.00
Announcement Date	27/05/20	10/11/20	12/11/21	10/02/22	13/05/22	10/08/22	11/11/22	11/11/22	09/02/23	12/05/23	12/05/23	08/08/23	10/11/23	10/11/23	09/02/24	13/05/24	13/05/24	-	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: Maart	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	1,72,797	1,55,738	1,46,779	1,01,122	70,123	13,300	4,100	19,000
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	36,775	10,689	42,820	12,972	90,908	1,12,000	93,333	80,400
ROE (net income / shareholders' equity)	7.3%	2.6%	9.1%	7.9%	9.8%	8.85%	7.25%	7.6%
ROA (Net income/ Total Assets)	3.65%	3.38%	4.39%	4.51%	5.21%	5.2%	5.9%	6.3%
Assets ¹	19,04,909	7,42,657	22,13,784	18,98,512	21,27,510	18,71,154	14,64,407	13,50,000
Book Value Per Share ²	3,260	3,717	4,058	4,158	4,866	5,052	4,983	5,273
Cash Flow per Share ²	420.0	271.0	543.0	515.0	667.0	696.0	605.0	683.0
Capex ¹	57,162	71,649	50,699	78,082	68,368	74,000	77,500	71,500
Capex / Sales	4.08%	5.37%	3.77%	5.69%	4.8%	5.08%	5.21%	4.65%
Announcement Date	27/05/20	13/05/21	13/05/22	12/05/23	13/05/24	-	-	-

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 Dai Nippon Printing Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

5,526 JPY

Average target price

5,287 JPY

Spread / Average Target

-4.33%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Commercial Printing Services

	1st Jan change	Capi.
TOPPAN INC.	+18.48%	9B
CIMPRESS PLC	+11.94%	2.28B
FELLAZO CORP.	+180.00%	1.21B
DELUXE CORPORATION	+3.36%	976M
HONGBO CO.,LTD.	-61.40%	728M
SHENZHEN JINJIA GROUP CO.,LTD.	-29.61%	741M
ENNIS, INC.	-1.14%	563M
KOSAIDO HOLDINGS CO., LTD.	-22.76%	537M
GUIZHOUYONGJI PRINTING CO.,LTD	-12.79%	457M

Other Commercial Printing Services