Financials Fuso Chemical Co.,Ltd.

Equities

4368

JP3822600007

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 11:30:00 17/05/2024 am IST			5-day change	1st Jan Change
3,850 ^JPY	+1.32%		-8.44%	-7.78%

15/03	Fuso Chemical Co.,Ltd. Announces Management Changes	CI
15/03	Fuso Chemical Co.,Ltd. Announces Retirement of Yoshiki Kinoshita, A Current External Board Director, Audit and Supervisory Committee Member	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	66,108	1,07,754	1,44,322	1,58,949	1,32,692	1,35,711	-	-
Enterprise Value (EV) ¹	55,144	91,188	1,18,616	1,34,590	1,09,279	1,62,325	1,31,338	1,29,262
P/E ratio	9.61 x	15.4 x	21.2 x	14.6 x	9.39 x	19.5 x	14.2 x	12.3 x
Yield	2.47%	1.52%	1.18%	1.22%	1.67%	1.43%	1.83%	1.99%
Capitalization / Revenue	1.57 x	2.61 x	3.42 x	2.85 x	1.94 x	2.75 x	2.06 x	1.83 x
EV / Revenue	1.31 x	2.21 x	2.81 x	2.41 x	1.6 x	2.75 x	1.99 x	1.75 x
EV / EBITDA	4.47 x	6.82 x	8.09 x	6.91 x	4.7 x	8.9 x	5.67 x	4.88 x
EV / FCF	-1,22,10,822 x	1,24,35,282 x	1,08,52,304 x	16,33,30,457 x	21,49,64,737 x	-2,24,26,738 x	1,76,52,989 x	1,38,09,989 x
FCF Yield	-0%	0%	0%	0%	0%	-0%	0%	0%
Price to Book	1.19 x	1.79 x	2.18 x	2.11 x	1.52 x	1.71 x	1.34 x	1.23 x
Nbr of stocks (in thousands)	35,504	35,504	35,504	35,244	35,244	35,250	-	-
Reference price ²	1,862	3,035	4,065	4,510	3,765	3,850	3,850	3,850
Announcement Date	09/05/19	08/05/20	07/05/21	09/05/22	11/05/23	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	42,074	41,310	42,209	55,760	68,459	58,970	66,000	74,000
EBITDA ¹	12,328	13,362	14,659	19,488	23,268	18,244	23,175	26,500
EBIT ¹	9,283	8,830	9,632	15,034	18,930	11,083	12,000	15,733
Operating Margin	22.06%	21.37%	22.82%	26.96%	27.65%	18.79%	18.18%	21.26%
Earnings before Tax (EBT) ¹	9,795	8,875	9,729	15,713	20,082	12,006	-	17,000
Net income ¹	6,881	7,014	6,808	10,890	14,129	8,343	8,280	11,067
Net margin	16.35%	16.98%	16.13%	19.53%	20.64%	14.15%	12.55%	14.95%
EPS ²	193.8	197.6	191.8	308.1	400.9	236.7	271.4	314.0
Free Cash Flow	-4,516	7,333	10,930	824	508.4	-7,238	7,440	9,360
FCF margin	-10.73%	17.75%	25.89%	1.48%	0.74%	-12.27%	11.27%	12.65%
FCF Conversion (EBITDA)	-	54.88%	74.56%	4.23%	2.18%	-	32.1%	35.32%
FCF Conversion (Net income)	-	104.55%	160.55%	7.57%	3.6%	-	89.86%	84.58%
Dividend per Share ²	46.00	46.00	48.00	55.00	63.00	66.00	70.50	76.67
Announcement Date	09/05/19	08/05/20	07/05/21	09/05/22	11/05/23	10/05/24	-	-

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	20,333	20,977	20,340	21,869	12,336	25,167	14,489	16,104	30,593	17,544	17,815	35,359	17,275	15,825	33,100	13,642	13,493	27,135	16,000	15,835	31,835
EBITDA	6,433	6,931	7,117	7,542	-	8,550	-	-	-	-	-	-	-	5,383	11,644	4,180	4,188	8,367	-	-	-
EBIT ¹	4,364	4,466	4,629	5,003	3,054	6,425	3,834	4,775	8,609	4,693	4,885	9,578	5,125	4,227	9,352	3,194	2,387	5,581	2,645	2,857	5,502
Operating Margin	21.46%	21.29%	22.76%	22.88%	24.76%	25.53%	26.46%	29.65%	28.14%	26.75%	27.42%	27.09%	29.67%	26.71%	28.25%	23.41%	17.69%	20.57%	16.53%	18.04%	17.28%
Earnings before Tax (EBT) ¹	4,356	4,519	4,496	5,233	3,114	6,475	4,058	5,180	9,238	5,431	5,391	10,822	4,913	4,347	9,260	3,703	2,504	6,207	2,475	3,324	5,799
Net income ¹	3,013	4,001	3,086	3,722	2,251	4,488	2,842	3,560	6,402	3,662	3,854	7,516	3,492	3,121	6,613	2,454	1,833	4,287	1,819	2,237	4,056
Net margin	14.82%	19.07%	15.17%	17.02%	18.25%	17.83%	19.61%	22.11%	20.93%	20.87%	21.63%	21.26%	20.21%	19.72%	19.98%	17.99%	13.58%	15.8%	11.37%	14.13%	12.74%
EPS	84.87	112.7	86.92	104.8	63.58	126.6	80.59	-	181.5	103.9	109.4	213.3	99.10	88.54	187.6	69.63	52.01	121.6	51.61	-	-
Dividend per Share	23.00	23.00	23.00	25.00	-	25.00	-	-	30.00	-	-	30.00	-	33.00	33.00	-	-	33.00	-	-	-
Announcement Date	31/10/19	08/05/20	30/10/20	07/05/21	29/10/21	29/10/21	31/01/22	09/05/22	09/05/22	29/07/22	31/10/22	31/10/22	31/01/23	11/05/23	11/05/23	31/07/23	31/10/23	31/10/23	31/01/24	10/05/24	10/05/24

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	10,964	16,566	25,707	24,359	23,413	11,204	4,373	6,450
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-4,516	7,333	10,930	824	508	-7,238	7,440	9,360
ROE (net income / shareholders' equity)	13%	12.1%	10.8%	15.4%	17.4%	9.1%	11%	11.6%
ROA (Net income/ Total Assets)	15.3%	13.4%	13.4%	18.5%	19.2%	9.61%	-	-
Assets ¹	45,062	52,358	50,733	58,997	73,557	86,803	-	-
Book Value Per Share ²	1,559	1,698	1,864	2,137	2,483	2,696	2,875	3,142
Cash Flow per Share ²	280.0	325.0	333.0	434.0	524.0	440.0	545.0	-
Capex ¹	12,664	4,603	1,890	12,492	20,838	14,299	9,000	9,000
Capex / Sales	30.1%	11.14%	4.48%	22.4%	30.44%	24.25%	13.64%	12.16%
Announcement Date	09/05/19	08/05/20	07/05/21	09/05/22	11/05/23	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

Ratings for Fuso Chemical Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

3,850 JPY

Average target price

4,700 JPY

Spread / Average Target

+22.08%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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