EREX CO.,LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 724 JPY | +2.26% |
|
-7.77% | -7.30% |
| 12/03 | EREX Co.,Ltd. Announces Groundbreaking Ceremony for Wood Pellet Plant in Tuyen Quang Province, Vietnam | CI |
| 2023 | EREX Co.,Ltd. Reports Earnings Results for the Full Year Ended March 31, 2023 | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 52,223 | 62,580 | 1,08,859 | 1,02,326 | 1,08,471 | 42,039 | - | - |
| Enterprise Value (EV) 1 | 77,001 | 97,678 | 1,24,828 | 1,28,760 | 1,29,977 | 73,585 | 80,342 | 83,925 |
| P/E ratio | 18.9 x | 13.8 x | 15.9 x | 10.6 x | 11.8 x | -1.85 x | 20.5 x | 15.7 x |
| Yield | 1.16% | 1.46% | 0.98% | 1.27% | 1.2% | 0.24% | 0.71% | 1.74% |
| Capitalization / Revenue | 0.79 x | 0.71 x | 0.77 x | 0.44 x | 0.37 x | 0.17 x | 0.21 x | 0.19 x |
| EV / Revenue | 1.17 x | 1.1 x | 0.88 x | 0.56 x | 0.44 x | 0.3 x | 0.39 x | 0.38 x |
| EV / EBITDA | 12.1 x | 8.46 x | 6.33 x | 7.3 x | 6.27 x | -4.62 x | 8.28 x | 7.61 x |
| EV / FCF | -4.75 x | -10.9 x | 13.8 x | -13.3 x | 18.8 x | -3.15 x | -19.6 x | -72.9 x |
| FCF Yield | -21% | -9.18% | 7.24% | -7.5% | 5.32% | -31.7% | -5.1% | -1.37% |
| Price to Book | 2.69 x | 2.4 x | 2.47 x | 1.84 x | 1.75 x | 0.87 x | 0.87 x | 0.83 x |
| Nbr of stocks (in thousands) | 50,604 | 50,836 | 58,970 | 59,079 | 59,241 | 59,377 | - | - |
| Reference price 2 | 1,032 | 1,231 | 1,846 | 1,732 | 1,831 | 708.0 | 708.0 | 708.0 |
| Announcement Date | 13/05/19 | 13/05/20 | 13/05/21 | 13/05/22 | 12/05/23 | 10/05/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 65,827 | 88,639 | 1,41,885 | 2,30,502 | 2,96,312 | 2,44,977 | 2,04,147 | 2,18,865 |
| EBITDA 1 | 6,384 | 11,547 | 19,718 | 17,631 | 20,746 | -15,935 | 9,704 | 11,021 |
| EBIT 1 | 4,702 | 9,246 | 15,720 | 12,498 | 14,884 | -19,851 | 3,354 | 4,552 |
| Operating Margin | 7.14% | 10.43% | 11.08% | 5.42% | 5.02% | -8.1% | 1.64% | 2.08% |
| Earnings before Tax (EBT) 1 | 4,298 | 8,764 | 13,563 | 13,847 | 15,295 | -20,649 | 4,350 | 4,505 |
| Net income 1 | 2,764 | 4,515 | 6,285 | 9,653 | 9,186 | -22,257 | 2,048 | 2,676 |
| Net margin | 4.2% | 5.09% | 4.43% | 4.19% | 3.1% | -9.09% | 1% | 1.22% |
| EPS 2 | 54.64 | 89.03 | 116.3 | 163.4 | 155.2 | -375.3 | 34.60 | 45.14 |
| Free Cash Flow 1 | -16,196 | -8,962 | 9,037 | -9,663 | 6,913 | -23,340 | -4,098 | -1,151 |
| FCF margin | -24.6% | -10.11% | 6.37% | -4.19% | 2.33% | -9.53% | -2.01% | -0.53% |
| FCF Conversion (EBITDA) | - | - | 45.83% | - | 33.32% | - | - | - |
| FCF Conversion (Net income) | - | - | 143.79% | - | 75.26% | - | - | - |
| Dividend per Share 2 | 12.00 | 18.00 | 18.00 | 22.00 | 22.00 | 1.667 | 5.000 | 12.33 |
| Announcement Date | 13/05/19 | 13/05/20 | 13/05/21 | 13/05/22 | 12/05/23 | 10/05/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 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 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 41,489 | 47,150 | 47,314 | 94,571 | 49,477 | 82,690 | 68,260 | 79,552 | 1,47,812 | 58,674 | 78,903 | 1,37,577 | 84,134 | 1,58,735 | 55,902 | 64,992 | 1,20,894 | 63,411 | 60,672 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 5,554 | 3,692 | 4,722 | 10,998 | 4,182 | 5,360 | 2,585 | 4,553 | 7,138 | 3,161 | 7,648 | 10,809 | 3,545 | 4,075 | -5,927 | -4,777 | -10,704 | -4,449 | -4,698 |
| Operating Margin | 13.39% | 7.83% | 9.98% | 11.63% | 8.45% | 6.48% | 3.79% | 5.72% | 4.83% | 5.39% | 9.69% | 7.86% | 4.21% | 2.57% | -10.6% | -7.35% | -8.85% | -7.02% | -7.74% |
| Earnings before Tax (EBT) | 5,366 | 3,398 | 4,620 | 8,943 | 5,177 | 6,714 | 4,129 | 3,004 | 7,133 | 2,143 | 5,393 | 7,536 | 3,620 | 7,759 | -4,135 | -5,085 | -9,220 | -4,637 | - |
| Net income 1 | 3,058 | 1,457 | 2,680 | 3,605 | 3,490 | 4,323 | 3,586 | 1,744 | 5,330 | 1,675 | 2,861 | 4,536 | 1,401 | 4,650 | -3,797 | -7,365 | -11,162 | -4,725 | -6,370 |
| Net margin | 7.37% | 3.09% | 5.66% | 3.81% | 7.05% | 5.23% | 5.25% | 2.19% | 3.61% | 2.85% | 3.63% | 3.3% | 1.67% | 2.93% | -6.79% | -11.33% | -9.23% | -7.45% | -10.5% |
| EPS | 60.36 | 28.67 | 52.65 | - | 59.12 | 73.25 | 60.71 | 29.48 | 90.19 | 28.33 | 48.35 | 76.68 | 23.67 | 78.54 | -64.11 | -124.2 | -188.3 | -79.65 | - |
| Dividend per Share | - | 18.00 | - | 18.00 | - | - | - | - | 22.00 | - | - | - | - | 22.00 | - | - | - | - | - |
| Announcement Date | 11/11/19 | 13/05/20 | 11/11/20 | 13/05/21 | 11/11/21 | 11/11/21 | 10/02/22 | 13/05/22 | 13/05/22 | 10/08/22 | 11/11/22 | 11/11/22 | 10/02/23 | 12/05/23 | 10/08/23 | 10/11/23 | 10/11/23 | 09/02/24 | 10/05/24 |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 24,778 | 35,098 | 15,969 | 26,434 | 21,506 | 32,437 | 38,304 | 41,886 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.881 x | 3.04 x | 0.8099 x | 1.499 x | 1.037 x | -2.036 x | 3.947 x | 3.801 x |
| Free Cash Flow 1 | -16,196 | -8,962 | 9,037 | -9,663 | 6,913 | -23,340 | -4,098 | -1,151 |
| ROE (net income / shareholders' equity) | 16.4% | 19.8% | 17.9% | 19.3% | 15.6% | -40.6% | 4.3% | 5.87% |
| ROA (Net income/ Total Assets) | 6.64% | 9.75% | 12.8% | 9.68% | 9.31% | -11.6% | 2.1% | 2.2% |
| Assets 1 | 41,608 | 46,315 | 49,228 | 99,731 | 98,688 | 1,91,644 | 97,524 | 1,21,621 |
| Book Value Per Share 2 | 384.0 | 514.0 | 747.0 | 942.0 | 1,048 | 800.0 | 810.0 | 854.0 |
| Cash Flow per Share | 87.90 | 134.0 | 188.0 | 246.0 | 249.0 | -316.0 | - | - |
| Capex 1 | 21,874 | 15,473 | 2,616 | 13,610 | 1,367 | 3,067 | 12,013 | 10,633 |
| Capex / Sales | 33.23% | 17.46% | 1.84% | 5.9% | 0.46% | 1.25% | 5.88% | 4.86% |
| Announcement Date | 13/05/19 | 13/05/20 | 13/05/21 | 13/05/22 | 12/05/23 | 10/05/24 | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
D-
Sell
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
3
Last Close Price
708
JPY
Average target price
840
JPY
Spread / Average Target
+18.64%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.30% | 27Cr | |
| +24.91% | 16TCr | |
| +12.93% | 8.66TCr | |
| +3.50% | 8.4TCr | |
| +0.46% | 7.46TCr | |
| +83.99% | 6.78TCr | |
| +14.00% | 4.88TCr | |
| +14.43% | 4.51TCr | |
| 0.00% | 4.41TCr | |
| +3.44% | 3.99TCr |
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- Financials eREX Co.,Ltd.
