Financials Hirata Corporation Deutsche Boerse AG

Equities

1ZM

JP3795300007

Industrial Machinery & Equipment

Delayed Deutsche Boerse AG Other stock markets 01:29:02 03/07/2024 pm IST			5-day change	1st Jan Change
37.8 ^EUR	+1.07%		0.00%	-3.57%

31/05	Hirata Corporation Announces Correction of Production Results for the Year Ended March 31, 2024	CI
21/02	Japanese stocks within reach of record highs, and yet inexpensive	RE

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	47,783	71,204	56,399	71,132	81,539	68,763	-	-
Enterprise Value (EV) ¹	51,347	77,212	67,200	89,755	1,07,917	91,545	91,550	87,899
P/E ratio	27.4 x	17.5 x	20.9 x	16.7 x	18.8 x	12.1 x	10.5 x	9.64 x
Yield	0.87%	0.95%	1.2%	1.31%	1.27%	1.81%	2.15%	2.32%
Capitalization / Revenue	0.73 x	1.09 x	0.84 x	0.91 x	0.98 x	0.7 x	0.66 x	0.62 x
EV / Revenue	0.78 x	1.18 x	1 x	1.14 x	1.3 x	0.93 x	0.87 x	0.79 x
EV / EBITDA	13 x	12 x	12.6 x	12.1 x	13.7 x	9.02 x	8.21 x	7.32 x
EV / FCF	9.31 x	-31.3 x	-14.8 x	-11.6 x	-15.8 x	15.3 x	51.4 x	27.6 x
FCF Yield	10.7%	-3.2%	-6.74%	-8.63%	-6.32%	6.54%	1.94%	3.62%
Price to Book	1.03 x	1.38 x	1.03 x	1.2 x	1.25 x	0.99 x	0.92 x	0.86 x
Nbr of stocks (in thousands)	10,376	10,380	10,444	10,384	10,387	10,387	-	-
Reference price ²	4,605	6,860	5,400	6,850	7,850	6,620	6,620	6,620
Announcement Date	14/05/20	14/05/21	13/05/22	12/05/23	10/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	65,612	65,255	67,087	78,443	82,839	98,775	1,04,900	1,11,667
EBITDA ¹	3,963	6,448	5,334	7,414	7,862	10,145	11,150	12,000
EBIT ¹	2,736	4,995	3,856	5,920	6,047	8,250	9,350	9,967
Operating Margin	4.17%	7.65%	5.75%	7.55%	7.3%	8.35%	8.91%	8.93%
Earnings before Tax (EBT) ¹	2,881	5,169	4,267	5,861	6,762	8,250	9,350	10,100
Net income ¹	1,744	4,075	2,682	4,269	4,344	5,675	6,575	7,133
Net margin	2.66%	6.24%	4%	5.44%	5.24%	5.75%	6.27%	6.39%
EPS ²	168.2	392.7	258.4	411.2	418.3	546.4	633.0	686.8
Free Cash Flow ¹	5,514	-2,470	-4,527	-7,745	-6,825	5,992	1,780	3,183
FCF margin	8.4%	-3.79%	-6.75%	-9.87%	-8.24%	6.07%	1.7%	2.85%
FCF Conversion (EBITDA)	139.15%	-	-	-	-	59.06%	15.96%	26.52%
FCF Conversion (Net income)	316.17%	-	-	-	-	105.58%	27.06%	44.62%
Dividend per Share ²	40.00	65.00	65.00	90.00	100.0	120.0	142.5	153.3
Announcement Date	14/05/20	14/05/21	13/05/22	12/05/23	10/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S2	2021 S1	2021 S2	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 Q1
Net sales ¹	37,197	32,800	32,455	32,588	17,138	17,360	16,740	17,929	34,669	20,514	23,260	43,774	19,155	18,240	37,395	23,614	21,830	45,444	22,750	23,350	46,000	24,650	25,800	55,000	23,600
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,632	2,741	2,254	2,527	1,193	135.9	1,012	1,365	2,377	2,096	1,446	3,543	1,503	1,608	3,112	2,792	143.1	2,935	1,890	1,985	3,850	2,540	1,585	4,550	2,000
Operating Margin	4.39%	8.36%	6.95%	7.75%	6.96%	0.78%	6.04%	7.62%	6.86%	10.22%	6.22%	8.09%	7.85%	8.82%	8.32%	11.82%	0.66%	6.46%	8.31%	8.5%	8.37%	10.3%	6.14%	8.27%	8.47%
Earnings before Tax (EBT)	-	2,834	-	2,814	1,233	-	1,156	1,103	2,258	2,175	-	-	1,596	-	3,312	3,376	-	-	-	-	-	-	-	-	-
Net income ¹	979	1,781	-	1,983	763	-64.44	817.1	926.8	1,743	1,480	1,046	-	1,105	1,198	2,303	2,344	-302.8	-	1,300	1,400	-	1,700	1,000	-	1,400
Net margin	2.63%	5.43%	-	6.09%	4.45%	-0.37%	4.88%	5.17%	5.03%	7.21%	4.5%	-	5.77%	6.57%	6.16%	9.93%	-1.39%	-	5.71%	6%	-	6.9%	3.88%	-	5.93%
EPS	-	171.6	-	191.1	73.51	-	78.71	-	168.0	142.4	-	-	106.5	-	221.8	225.7	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	14/05/20	12/11/20	14/05/21	12/11/21	10/02/22	13/05/22	10/08/22	11/11/22	11/11/22	10/02/23	12/05/23	12/05/23	10/08/23	10/11/23	10/11/23	09/02/24	10/05/24	10/05/24	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	3,564	6,008	10,802	18,623	26,378	22,782	22,787	19,136
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.8994 x	0.9318 x	2.025 x	2.512 x	3.355 x	2.246 x	2.044 x	1.595 x
Free Cash Flow ¹	5,514	-2,470	-4,527	-7,745	-6,825	5,992	1,780	3,183
ROE (net income / shareholders' equity)	3.8%	8.3%	5.1%	7.5%	7%	8.25%	8.9%	9.5%
ROA (Net income/ Total Assets)	3.25%	5.81%	4.43%	5.42%	5.1%	5.8%	6.4%	6.9%
Assets ¹	53,637	70,148	60,556	78,731	85,127	97,845	1,02,734	1,03,382
Book Value Per Share ²	4,477	4,962	5,248	5,699	6,260	6,685	7,164	7,695
Cash Flow per Share ²	286.0	533.0	401.0	555.0	593.0	721.0	809.0	915.0
Capex ¹	2,580	3,160	1,464	2,038	2,853	2,517	2,667	2,733
Capex / Sales	3.93%	4.84%	2.18%	2.6%	3.44%	2.55%	2.54%	2.45%
Announcement Date	14/05/20	14/05/21	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

Ratings for Hirata Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6,620 JPY

Average target price

9,200 JPY

Spread / Average Target

+38.97%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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