ITOCHU CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 6,898 JPY | -0.16% |
|
+6.06% | +19.61% |
| 18/04 | Itochu Proposes Performance-Linked Stock Compensation Plan for Directors, Officers | MT |
| 18/04 | J-Will Partners Co., Ltd. and ITOCHU Corporation agreed to acquire BigMotor Co., Ltd. | CI |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 30,56,918 | 33,41,952 | 53,26,410 | 60,89,921 | 62,61,808 | 99,25,112 | - | - |
| Enterprise Value (EV) 1 | 54,20,542 | 67,32,940 | 89,91,384 | 83,72,921 | 86,52,977 | 1,24,16,118 | 1,22,70,738 | 1,21,54,410 |
| P/E ratio | 6.18 x | 6.68 x | 13.3 x | 7.5 x | 7.88 x | 12.1 x | 11.5 x | 11 x |
| Yield | 4.14% | 3.79% | 2.45% | 2.65% | 3.26% | 2.36% | 2.67% | 2.71% |
| Capitalization / Revenue | 0.26 x | 0.3 x | 0.51 x | 0.5 x | 0.45 x | 0.69 x | 0.69 x | 0.67 x |
| EV / Revenue | 0.47 x | 0.61 x | 0.87 x | 0.68 x | 0.62 x | 0.87 x | 0.85 x | 0.83 x |
| EV / EBITDA | 10.5 x | 8.19 x | 10.9 x | 8.49 x | 7.78 x | 11.1 x | 10.8 x | 10.5 x |
| EV / FCF | 8 x | 9.22 x | 13.1 x | 9.97 x | 17.9 x | 23.2 x | 19.2 x | 18.1 x |
| FCF Yield | 12.5% | 10.8% | 7.66% | 10% | 5.6% | 4.31% | 5.2% | 5.51% |
| Price to Book | 1.04 x | 1.12 x | 1.61 x | 1.45 x | 1.3 x | 1.88 x | 1.7 x | 1.54 x |
| Nbr of stocks (in thousands) | 15,26,551 | 14,90,280 | 14,84,921 | 14,69,576 | 14,55,896 | 14,38,839 | - | - |
| Reference price 2 | 2,002 | 2,242 | 3,587 | 4,144 | 4,301 | 6,898 | 6,898 | 6,898 |
| Announcement Date | 26/04/19 | 08/05/20 | 10/05/21 | 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 | 1,16,00,485 | 1,09,82,968 | 1,03,62,628 | 1,22,93,348 | 1,39,45,633 | 1,43,53,595 | 1,44,32,418 | 1,47,12,770 |
| EBITDA 1 | 5,16,436 | 8,22,062 | 8,27,711 | 9,86,706 | 11,11,875 | 11,20,009 | 11,38,228 | 11,53,775 |
| EBIT 1 | 3,61,492 | 3,99,438 | 4,03,414 | 5,82,522 | 7,01,913 | 7,06,779 | 7,32,317 | 7,53,621 |
| Operating Margin | 3.12% | 3.64% | 3.89% | 4.74% | 5.03% | 4.92% | 5.07% | 5.12% |
| Earnings before Tax (EBT) 1 | 6,95,383 | 7,01,430 | 5,12,475 | 11,50,029 | 11,06,861 | 11,10,305 | 11,47,500 | 11,89,414 |
| Net income 1 | 5,00,523 | 5,01,322 | 4,01,433 | 8,20,269 | 8,00,519 | 8,19,722 | 8,60,617 | 8,81,756 |
| Net margin | 4.31% | 4.56% | 3.87% | 6.67% | 5.74% | 5.71% | 5.96% | 5.99% |
| EPS 2 | 324.1 | 335.6 | 269.8 | 552.9 | 546.1 | 568.4 | 597.9 | 624.6 |
| Free Cash Flow 1 | 6,77,700 | 7,30,445 | 6,88,604 | 8,39,800 | 4,84,300 | 5,34,825 | 6,37,617 | 6,70,033 |
| FCF margin | 5.84% | 6.65% | 6.65% | 6.83% | 3.47% | 3.73% | 4.42% | 4.55% |
| FCF Conversion (EBITDA) | 131.23% | 88.86% | 83.19% | 85.11% | 43.56% | 47.75% | 56.02% | 58.07% |
| FCF Conversion (Net income) | 135.4% | 145.7% | 171.54% | 102.38% | 60.5% | 65.24% | 74.09% | 75.99% |
| Dividend per Share 2 | 83.00 | 85.00 | 88.00 | 110.0 | 140.0 | 162.8 | 184.0 | 186.7 |
| Announcement Date | 26/04/19 | 08/05/20 | 10/05/21 | 10/05/22 | 09/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 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 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 54,89,699 | 49,17,716 | 26,73,434 | 27,71,478 | 29,16,818 | 29,57,952 | 58,74,770 | 32,18,884 | 31,99,694 | 64,18,578 | 33,78,021 | 36,14,143 | 69,92,164 | 35,52,055 | 34,01,414 | - | 33,48,491 | 35,98,841 | 67,74,098 | - | 38,06,279 | 33,80,935 |
| EBITDA 1 | - | - | - | 2,05,145 | 2,58,016 | 3,07,751 | - | 2,61,098 | 2,18,296 | - | 2,82,725 | 3,06,760 | - | 2,88,865 | 2,33,525 | - | 2,68,451 | 2,31,604 | - | - | 2,67,157 | 2,70,680 |
| EBIT 1 | 2,22,639 | 1,90,936 | 1,14,090 | 98,388 | 1,53,310 | 1,50,818 | 3,04,128 | 1,60,601 | 1,17,793 | 2,78,394 | 1,83,035 | 2,05,498 | 3,88,533 | 1,85,862 | 1,27,518 | - | 1,67,237 | 1,29,751 | 3,50,922 | - | 1,62,820 | 1,65,957 |
| Operating Margin | 4.06% | 3.88% | 4.27% | 3.55% | 5.26% | 5.1% | 5.18% | 4.99% | 3.68% | 4.34% | 5.42% | 5.69% | 5.56% | 5.23% | 3.75% | - | 4.99% | 3.61% | 5.18% | - | 4.28% | 4.91% |
| Earnings before Tax (EBT) | 3,98,810 | 2,90,561 | 1,59,591 | - | 3,82,009 | - | 6,99,887 | 2,57,445 | 1,92,697 | 4,50,142 | 3,04,699 | - | 6,41,580 | 2,82,968 | 1,82,313 | - | 3,00,224 | - | 5,71,824 | - | - | - |
| Net income 1 | 2,89,068 | 2,52,508 | 1,11,810 | 37,115 | 2,67,500 | 2,33,136 | 5,00,612 | 1,78,252 | 1,41,405 | 3,19,657 | 2,30,631 | 2,52,400 | 4,83,031 | 1,99,198 | 1,18,290 | - | 2,13,237 | 1,99,877 | 4,12,899 | 2,04,100 | 2,04,969 | 2,27,030 |
| Net margin | 5.27% | 5.13% | 4.18% | 1.34% | 9.17% | 7.88% | 8.52% | 5.54% | 4.42% | 4.98% | 6.83% | 6.98% | 6.91% | 5.61% | 3.48% | - | 6.37% | 5.55% | 6.1% | - | 5.39% | 6.71% |
| EPS 2 | 193.0 | 169.6 | 75.23 | 25.03 | 180.1 | 157.0 | 337.0 | 120.0 | 95.80 | 215.8 | 157.0 | 171.8 | 328.7 | 135.9 | 81.44 | - | 146.5 | 104.9 | 283.9 | - | 137.8 | 158.4 |
| Dividend per Share 2 | 42.50 | 44.00 | - | 44.00 | - | 47.00 | 47.00 | - | 63.00 | 63.00 | - | 65.00 | 65.00 | - | 75.00 | 75.00 | - | 80.00 | 80.00 | - | 80.00 | - |
| Announcement Date | 01/11/19 | 04/11/20 | 04/02/21 | 10/05/21 | 04/08/21 | 05/11/21 | 05/11/21 | 03/02/22 | 10/05/22 | 10/05/22 | 05/08/22 | 04/11/22 | 04/11/22 | 03/02/23 | 09/05/23 | 09/05/23 | 04/08/23 | - | 05/11/23 | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 23,63,624 | 33,90,988 | 36,64,974 | 22,83,000 | 23,91,169 | 24,91,005 | 23,45,626 | 22,29,297 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.577 x | 4.125 x | 4.428 x | 2.314 x | 2.151 x | 2.224 x | 2.061 x | 1.932 x |
| Free Cash Flow 1 | 6,77,700 | 7,30,445 | 6,88,604 | 8,39,800 | 4,84,300 | 5,34,825 | 6,37,617 | 6,70,033 |
| ROE (net income / shareholders' equity) | 17.9% | 17% | 12.7% | 21.8% | 17.8% | 16.2% | 15.8% | 14.6% |
| ROA (Net income/ Total Assets) | 7.41% | 6.67% | 4.64% | 9.86% | 8.76% | 6.05% | 6.09% | 6.09% |
| Assets 1 | 67,52,491 | 75,11,038 | 86,54,931 | 83,20,914 | 91,36,363 | 1,35,54,730 | 1,41,26,069 | 1,44,87,789 |
| Book Value Per Share 2 | 1,930 | 2,010 | 2,233 | 2,858 | 3,312 | 3,668 | 4,050 | 4,466 |
| Cash Flow per Share 2 | 424.0 | 618.0 | 555.0 | 825.0 | 826.0 | 820.0 | 833.0 | 847.0 |
| Capex 1 | 95,672 | 1,47,688 | 1,52,583 | 1,24,883 | 1,65,700 | 5,36,393 | 4,93,498 | 4,70,695 |
| Capex / Sales | 0.82% | 1.34% | 1.47% | 1.02% | 1.19% | 3.74% | 3.42% | 3.2% |
| Announcement Date | 26/04/19 | 08/05/20 | 10/05/21 | 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
BUY
Number of Analysts
9
Last Close Price
6,898
JPY
Average target price
7,283
JPY
Spread / Average Target
+5.59%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +19.61% | 63.05B | |
| +56.60% | 91.85B | |
| +8.09% | 42.1B | |
| +27.08% | 30.34B | |
| +21.43% | 28.92B | |
| +16.39% | 21.62B | |
| +15.83% | 17.92B | |
| -3.45% | 12.84B | |
| +4.42% | 5.92B | |
| -24.20% | 5.61B |
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