IDEMITSU KOSAN CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,048 JPY | +2.49% |
|
+2.34% | +36.55% |
| 17/04 | Idemitsu Kosan Partners Zen-Noh Grain for Sustainable Aviation Fuel Production | MT |
| 17/04 | Japan oil refiners to tap reserves in case of Middle East disruption | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,31,153 | 7,42,038 | 8,48,414 | 10,03,408 | 8,57,766 | 14,45,234 | - | - |
| Enterprise Value (EV) 1 | 15,89,186 | 19,13,489 | 19,96,853 | 21,99,937 | 22,10,490 | 25,54,943 | 24,95,902 | 25,58,664 |
| P/E ratio | 9.22 x | -32.5 x | 24.3 x | 3.59 x | 3.4 x | 7.48 x | 8.68 x | 8.43 x |
| Yield | 2.7% | 6.46% | 4.2% | 3.56% | 4.14% | 3.05% | 3.11% | 3.05% |
| Capitalization / Revenue | 0.17 x | 0.12 x | 0.19 x | 0.15 x | 0.09 x | 0.17 x | 0.17 x | 0.17 x |
| EV / Revenue | 0.36 x | 0.32 x | 0.44 x | 0.33 x | 0.23 x | 0.3 x | 0.3 x | 0.31 x |
| EV / EBITDA | 6.57 x | 19 x | 8.06 x | 4.01 x | 5.58 x | 6.53 x | 6.92 x | 7.18 x |
| EV / FCF | 55.3 x | -11.4 x | 32.9 x | 80.5 x | 59.4 x | 13.9 x | 18.6 x | 25.8 x |
| FCF Yield | 1.81% | -8.74% | 3.04% | 1.24% | 1.68% | 7.19% | 5.37% | 3.87% |
| Price to Book | 0.87 x | 0.64 x | 0.74 x | 0.71 x | 0.53 x | 0.84 x | 0.77 x | 0.72 x |
| Nbr of stocks (in thousands) | 9,86,711 | 14,97,253 | 14,86,359 | 14,86,530 | 14,78,907 | 13,79,040 | - | - |
| Reference price 2 | 741.0 | 495.6 | 570.8 | 675.0 | 580.0 | 1,048 | 1,048 | 1,048 |
| Announcement Date | 15/05/19 | 26/05/20 | 11/05/21 | 10/05/22 | 09/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 44,25,144 | 60,45,850 | 45,56,620 | 66,86,761 | 94,56,281 | 86,32,031 | 82,96,966 | 82,74,012 |
| EBITDA 1 | 2,42,028 | 1,00,752 | 2,47,849 | 5,48,730 | 3,96,354 | 3,91,484 | 3,60,422 | 3,56,156 |
| EBIT 1 | 1,79,319 | -3,860 | 1,40,062 | 4,34,453 | 2,82,442 | 2,76,709 | 2,19,423 | 2,09,794 |
| Operating Margin | 4.05% | -0.06% | 3.07% | 6.5% | 2.99% | 3.21% | 2.64% | 2.54% |
| Earnings before Tax (EBT) 1 | 1,44,701 | -17,226 | 64,582 | 3,88,062 | 3,48,270 | 2,88,651 | 2,31,511 | 2,30,878 |
| Net income 1 | 81,450 | -22,935 | 34,920 | 2,79,498 | 2,53,646 | 2,00,852 | 1,64,485 | 1,61,905 |
| Net margin | 1.84% | -0.38% | 0.77% | 4.18% | 2.68% | 2.33% | 1.98% | 1.96% |
| EPS 2 | 80.33 | -15.26 | 23.49 | 188.0 | 170.7 | 140.2 | 120.7 | 124.3 |
| Free Cash Flow 1 | 28,731 | -1,67,175 | 60,615 | 27,313 | 37,235 | 1,83,620 | 1,33,960 | 99,020 |
| FCF margin | 0.65% | -2.77% | 1.33% | 0.41% | 0.39% | 2.13% | 1.61% | 1.2% |
| FCF Conversion (EBITDA) | 11.87% | - | 24.46% | 4.98% | 9.39% | 46.9% | 37.17% | 27.8% |
| FCF Conversion (Net income) | 35.27% | - | 173.58% | 9.77% | 14.68% | 91.42% | 81.44% | 61.16% |
| Dividend per Share 2 | 20.00 | 32.00 | 24.00 | 24.00 | 24.00 | 32.00 | 32.57 | 32.00 |
| Announcement Date | 15/05/19 | 26/05/20 | 11/05/21 | 10/05/22 | 09/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 30,00,031 | 20,15,717 | 15,64,745 | 28,67,008 | 17,80,177 | 20,39,576 | 38,19,753 | 22,04,695 | 26,09,393 | 48,14,088 | 23,97,206 | 22,44,987 | 18,18,922 | 22,05,540 | 40,24,462 | 23,77,802 | 23,84,567 | 17,01,050 | 20,81,800 | 41,00,900 | 22,64,450 | 24,68,950 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 60,301 | 3,129 | 67,992 | 1,79,297 | 99,743 | 1,55,413 | 2,55,156 | 2,33,633 | 1,20,444 | 3,54,077 | -55,211 | -16,424 | 44,871 | 1,58,050 | 2,02,921 | 90,779 | -10,167 | 52,000 | 74,600 | 1,32,700 | 43,700 | 69,100 |
| Operating Margin | 2.01% | 0.16% | 4.35% | 6.25% | 5.6% | 7.62% | 6.68% | 10.6% | 4.62% | 7.36% | -2.3% | -0.73% | 2.47% | 7.17% | 5.04% | 3.82% | -0.43% | 3.06% | 3.58% | 3.24% | 1.93% | 2.8% |
| Earnings before Tax (EBT) | 68,864 | -33,064 | 72,311 | 2,03,372 | 93,194 | 91,496 | 1,84,690 | 2,53,862 | 1,44,708 | 3,98,570 | -44,916 | - | 59,273 | - | 2,27,807 | 97,518 | - | - | - | - | - | - |
| Net income 1 | 45,347 | -32,115 | 54,322 | 1,42,702 | 57,226 | 79,570 | 1,36,796 | 1,79,321 | 1,01,477 | 2,80,798 | -31,169 | 4,017 | 45,406 | 1,19,540 | 1,64,946 | 74,139 | -36,150 | 39,200 | 57,650 | 1,02,800 | 34,400 | 46,000 |
| Net margin | 1.51% | -1.59% | 3.47% | 4.98% | 3.21% | 3.9% | 3.58% | 8.13% | 3.89% | 5.83% | -1.3% | 0.18% | 2.5% | 5.42% | 4.1% | 3.12% | -1.52% | 2.3% | 2.77% | 2.51% | 1.52% | 1.86% |
| EPS | 30.06 | -21.61 | 36.54 | 96.01 | 38.50 | 53.53 | 92.02 | 120.6 | 68.26 | 188.9 | -20.98 | - | 31.30 | 83.59 | 114.9 | 52.87 | - | - | - | - | - | - |
| Dividend per Share | 16.00 | 12.00 | - | 12.00 | - | - | - | - | - | 12.00 | - | - | - | - | 16.00 | - | - | - | - | - | - | - |
| Announcement Date | 14/11/19 | 10/11/20 | 09/11/21 | 09/11/21 | 08/02/22 | 10/05/22 | 10/05/22 | 09/08/22 | 08/11/22 | 08/11/22 | 14/02/23 | 09/05/23 | 08/08/23 | 14/11/23 | 14/11/23 | 13/02/24 | - | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 8,58,033 | 11,71,451 | 11,48,439 | 11,96,529 | 13,52,724 | 11,09,709 | 10,50,667 | 11,13,430 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.545 x | 11.63 x | 4.634 x | 2.181 x | 3.413 x | 2.835 x | 2.915 x | 3.126 x |
| Free Cash Flow 1 | 28,731 | -1,67,175 | 60,615 | 27,313 | 37,235 | 1,83,620 | 1,33,960 | 99,020 |
| ROE (net income / shareholders' equity) | 9.5% | -2.3% | 3% | 21.8% | 16.8% | 12.1% | 9.2% | 8.81% |
| ROA (Net income/ Total Assets) | 5.82% | -0.41% | 2.76% | 10.7% | 6.79% | 4.91% | 3.61% | 3.6% |
| Assets 1 | 13,99,208 | 55,61,213 | 12,63,341 | 26,03,321 | 37,34,009 | 40,93,587 | 45,57,204 | 45,01,512 |
| Book Value Per Share 2 | 853.0 | 774.0 | 774.0 | 950.0 | 1,102 | 1,255 | 1,358 | 1,457 |
| Cash Flow per Share 2 | 141.0 | 47.90 | 89.50 | 299.0 | 241.0 | 205.0 | 206.0 | - |
| Capex 1 | 78,347 | 1,43,036 | 1,51,414 | 1,18,798 | 98,688 | 1,56,640 | 1,69,040 | 1,69,040 |
| Capex / Sales | 1.77% | 2.37% | 3.32% | 1.78% | 1.04% | 1.81% | 2.04% | 2.04% |
| Announcement Date | 15/05/19 | 26/05/20 | 11/05/21 | 10/05/22 | 09/05/23 | - | - | - |
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
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
1,048
JPY
Average target price
1,041
JPY
Spread / Average Target
-0.64%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +36.55% | 9.18B | |
| +2.78% | 19.29B | |
| +34.34% | 11.4B | |
| +0.35% | 7.4B | |
| +88.44% | 5.28B | |
| +9.64% | 3.34B | |
| -1.77% | 3.33B | |
| +12.04% | 3.08B | |
| +15.04% | 2.73B | |
| +215.41% | 2.37B |
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