Stock 6856 HORIBA, LTD.
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Financials HORIBA, Ltd.

Equities

6856

JP3853000002

Industrial Machinery & Equipment

Market Closed - Japan Exchange
Other stock markets
 11:30:00 02/05/2024 am IST 		5-day change 1st Jan Change
15,285 JPY +0.23% Intraday chart for HORIBA, Ltd. +6.52% +38.58%
24/04 Tranche Update on HORIBA, Ltd.'s Equity Buyback Plan announced on February 14, 2024. CI
23/04 HORIBA, Ltd.'s Equity Buyback announced on February 14, 2024, has closed with 334,500 shares, representing 0.79% for ¥4,998.65 million. CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,09,152 2,55,294 2,85,254 2,41,976 4,66,235 6,42,389 - -
Enterprise Value (EV) 1 2,80,800 2,15,858 2,28,403 1,67,827 3,91,854 5,67,575 5,30,515 5,02,983
P/E ratio 20 x 19.4 x 13.4 x 7.1 x 11.6 x 17.3 x 15.2 x 14.6 x
Yield 1.77% 1.49% 2.22% 4.28% 2.63% 1.86% 1.94% 2.01%
Capitalization / Revenue 1.54 x 1.36 x 1.27 x 0.9 x 1.6 x 2.06 x 1.94 x 1.9 x
EV / Revenue 1.4 x 1.15 x 1.02 x 0.62 x 1.35 x 1.82 x 1.61 x 1.49 x
EV / EBITDA 9.55 x 7.45 x 5.42 x 2.96 x 6.6 x 8.32 x 6.97 x 6.47 x
EV / FCF 20.3 x 12.6 x 11.1 x 7.23 x 42 x 33 x 18.7 x 14.6 x
FCF Yield 4.92% 7.92% 9.02% 13.8% 2.38% 3.03% 5.35% 6.86%
Price to Book 1.81 x 1.43 x 1.4 x 1.01 x 1.65 x 2.1 x 1.95 x 1.78 x
Nbr of stocks (in thousands) 42,176 42,197 42,197 42,230 42,270 42,027 - -
Reference price 2 7,330 6,050 6,760 5,730 11,030 15,285 15,285 15,285
Announcement Date 14/02/20 15/02/21 14/02/22 14/02/23 14/02/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,00,241 1,87,080 2,24,314 2,70,133 2,90,558 3,11,131 3,30,384 3,37,549
EBITDA 1 29,401 28,990 42,109 56,754 59,393 68,254 76,111 77,682
EBIT 1 20,916 19,694 32,046 45,843 47,296 51,516 58,742 60,677
Operating Margin 10.45% 10.53% 14.29% 16.97% 16.28% 16.56% 17.78% 17.98%
Earnings before Tax (EBT) 1 20,734 18,821 30,204 47,272 53,703 51,985 58,621 60,929
Net income 1 15,481 13,188 21,311 34,072 40,302 37,361 42,380 43,900
Net margin 7.73% 7.05% 9.5% 12.61% 13.87% 12.01% 12.83% 13.01%
EPS 2 367.1 312.6 505.0 807.1 953.7 885.0 1,007 1,044
Free Cash Flow 1 13,804 17,088 20,606 23,221 9,337 17,198 28,388 34,525
FCF margin 6.89% 9.13% 9.19% 8.6% 3.21% 5.53% 8.59% 10.23%
FCF Conversion (EBITDA) 46.95% 58.94% 48.93% 40.92% 15.72% 25.2% 37.3% 44.44%
FCF Conversion (Net income) 89.17% 129.57% 96.69% 68.15% 23.17% 46.03% 66.99% 78.64%
Dividend per Share 2 130.0 90.00 150.0 245.0 290.0 283.9 295.8 306.7
Announcement Date 14/02/20 15/02/21 14/02/22 14/02/23 14/02/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 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 84,975 1,02,105 1,01,317 52,640 70,357 1,22,997 55,510 59,455 1,14,965 70,156 85,012 1,55,168 65,854 65,251 1,31,105 69,574 89,879 1,59,453 70,817 73,193 1,39,330 78,653 94,337 1,74,670
EBITDA - - - 9,433 14,912 - 11,211 10,332 - 15,424 20,113 - 13,385 10,451 - - - - - - - - - -
EBIT 1 6,676 13,018 13,069 6,790 12,187 - 8,605 7,655 16,260 12,311 17,272 29,583 10,450 7,388 17,838 10,661 18,797 29,458 11,030 10,223 19,650 13,270 18,510 31,150
Operating Margin 7.86% 12.75% 12.9% 12.9% 17.32% - 15.5% 12.88% 14.14% 17.55% 20.32% 19.07% 15.87% 11.32% 13.61% 15.32% 20.91% 18.47% 15.58% 13.97% 14.1% 16.87% 19.62% 17.83%
Earnings before Tax (EBT) 7,319 - 13,012 6,815 10,377 - 8,730 8,066 16,796 13,122 17,354 - 16,377 8,007 24,384 11,181 - - - - - - - -
Net income 1 4,860 8,328 8,744 4,977 7,590 - 5,721 5,519 11,240 9,462 13,370 22,832 13,556 5,450 19,006 7,966 13,330 21,296 7,200 6,300 13,500 - - -
Net margin 5.72% 8.16% 8.63% 9.45% 10.79% - 10.31% 9.28% 9.78% 13.49% 15.73% 14.71% 20.58% 8.35% 14.5% 11.45% 14.83% 13.36% 10.17% 8.61% 9.69% - - -
EPS 2 115.2 197.4 207.2 117.9 179.9 - 135.6 130.7 266.3 224.1 316.7 540.8 321.0 128.9 449.9 188.4 315.4 503.8 170.5 449.9 319.7 - - 490.2
Dividend per Share 30.00 - 50.00 - 100.0 - - 65.00 65.00 - 180.0 - - 80.00 80.00 - - 210.0 - - - - - -
Announcement Date 11/08/20 15/02/21 10/08/21 11/11/21 14/02/22 14/02/22 13/05/22 12/08/22 12/08/22 11/11/22 14/02/23 14/02/23 12/05/23 09/08/23 09/08/23 13/11/23 14/02/24 14/02/24 - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 28,352 39,436 56,851 74,149 74,381 74,814 1,11,874 1,39,406
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 13,804 17,088 20,606 23,221 9,337 17,198 28,389 34,525
ROE (net income / shareholders' equity) 9.3% 7.6% 11.2% 15.4% 15.4% 12.9% 13.5% 13.1%
ROA (Net income/ Total Assets) 6.92% 6.03% 9.16% 11.9% 11.1% 9.8% 10.6% 11.2%
Assets 1 2,23,813 2,18,633 2,32,697 2,86,597 3,61,571 3,81,232 3,98,557 3,93,136
Book Value Per Share 2 4,053 4,217 4,827 5,685 6,695 7,264 7,832 8,587
Cash Flow per Share 2 568.0 533.0 744.0 1,065 1,240 1,247 1,288 1,496
Capex 1 12,834 15,165 12,195 12,565 9,122 22,500 16,667 17,383
Capex / Sales 6.41% 8.11% 5.44% 4.65% 3.14% 7.23% 5.04% 5.15%
Announcement Date 14/02/20 15/02/21 14/02/22 14/02/23 14/02/24 - - -
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 HORIBA, Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
15,285 JPY
Average target price
15,275 JPY
Spread / Average Target
-0.07%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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