Financials Japan Tobacco, Inc. Börse Stuttgart

Equities

JAT

JP3726800000

Tobacco

Real-time Estimate Tradegate 12:22:19 03/07/2024 pm IST 5-day change 1st Jan Change
25.73 EUR +1.42% Intraday chart for Japan Tobacco, Inc. -2.50% +9.54%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 43,14,758 37,29,458 41,21,325 47,22,880 64,70,988 78,68,314 - -
Enterprise Value (EV) 1 49,32,101 42,08,419 43,18,216 48,14,306 65,73,041 77,29,083 75,86,436 74,18,339
P/E ratio 12.4 x 12 x 12.2 x 10.7 x 13.4 x 15.7 x 14.8 x 13.7 x
Yield 6.33% 7.33% 6.03% 7.07% 5.32% 4.58% 4.88% 5.18%
Capitalization / Revenue 1.98 x 1.78 x 1.77 x 1.78 x 2.28 x 2.62 x 2.54 x 2.45 x
EV / Revenue 2.27 x 2.01 x 1.86 x 1.81 x 2.31 x 2.57 x 2.44 x 2.31 x
EV / EBITDA 7.19 x 6.49 x 6.29 x 5.64 x 7.71 x 8.76 x 8.33 x 7.81 x
EV / FCF 12.1 x 10.2 x 8.61 x 12.6 x 14.9 x 16 x 16 x 14.2 x
FCF Yield 8.29% 9.77% 11.6% 7.93% 6.72% 6.24% 6.23% 7.03%
Price to Book 1.62 x 1.48 x 1.47 x 1.33 x 1.69 x 1.97 x 1.91 x 1.85 x
Nbr of stocks (in thousands) 17,73,796 17,74,243 17,74,521 17,74,851 17,75,305 17,75,342 - -
Reference price 2 2,432 2,102 2,322 2,661 3,645 4,432 4,432 4,432
Announcement Date 06/02/20 09/02/21 14/02/22 14/02/23 13/02/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21,75,626 20,92,561 23,24,838 26,57,832 28,41,077 30,06,694 31,03,743 32,07,381
EBITDA 1 6,86,207 6,48,708 6,86,078 8,53,226 8,52,062 8,82,135 9,11,243 9,50,315
EBIT 1 5,02,355 4,69,054 4,99,021 6,53,575 6,72,410 7,03,649 7,35,663 7,80,098
Operating Margin 23.09% 22.42% 21.46% 24.59% 23.67% 23.4% 23.7% 24.32%
Earnings before Tax (EBT) 1 4,65,232 4,20,063 4,72,390 5,93,450 6,21,601 6,68,620 7,15,885 7,74,112
Net income 1 3,48,190 3,10,253 3,38,490 4,42,716 4,82,288 4,99,413 5,30,758 5,69,302
Net margin 16% 14.83% 14.56% 16.66% 16.98% 16.61% 17.1% 17.75%
EPS 2 196.0 174.9 190.8 249.4 271.7 281.5 300.1 323.0
Free Cash Flow 1 4,08,976 4,11,213 5,01,410 3,81,977 4,41,653 4,82,088 4,72,905 5,21,172
FCF margin 18.8% 19.65% 21.57% 14.37% 15.55% 16.03% 15.24% 16.25%
FCF Conversion (EBITDA) 59.6% 63.39% 73.08% 44.77% 51.83% 54.65% 51.9% 54.84%
FCF Conversion (Net income) 117.46% 132.54% 148.13% 86.28% 91.57% 96.53% 89.1% 91.55%
Dividend per Share 2 154.0 154.0 140.0 188.0 194.0 202.9 216.2 229.6
Announcement Date 06/02/20 09/02/21 14/02/22 14/02/23 13/02/24 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 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 2025 Q1 2025 Q2 2025 S1 2025 S2 2026 S1
Net sales 1 11,17,077 10,30,218 11,44,500 5,58,763 11,80,338 5,81,505 6,85,323 12,66,828 7,41,670 6,49,284 13,91,004 6,65,278 7,27,534 13,92,812 7,64,206 6,84,059 14,48,265 7,40,333 7,86,888 15,26,400 8,25,781 7,13,009 15,44,500 8,00,970 8,00,970 - - -
EBITDA - - - - - - - - - - - - - - - - - - - - - - - - - - - -
EBIT 1 1,91,029 2,51,989 3,22,100 18,325 - 1,78,368 2,04,604 3,82,972 1,96,330 91,372 2,70,603 2,06,404 2,07,151 4,13,555 2,18,292 40,563 2,58,855 2,15,818 2,12,594 4,24,500 2,16,291 67,778 2,68,800 2,00,511 2,00,511 - - -
Operating Margin 17.1% 24.46% 28.14% 3.28% - 30.67% 29.86% 30.23% 26.47% 14.07% 19.45% 31.03% 28.47% 29.69% 28.56% 5.93% 17.87% 29.15% 27.02% 27.81% 26.19% 9.51% 17.4% 25.03% 25.03% - - -
Earnings before Tax (EBT) 1 1,74,614 2,25,961 3,14,095 8,569 - 1,74,699 1,86,286 3,60,985 1,74,611 57,854 - 1,83,146 1,90,284 3,73,430 2,12,779 35,392 2,48,171 2,01,266 2,12,981 - 2,30,073 70,359 - - - - - -
Net income 1 1,21,739 1,72,495 2,25,200 -323 - 1,24,110 1,39,953 2,64,063 1,39,740 38,916 - 1,44,684 1,42,325 2,87,009 1,55,001 40,278 1,95,279 1,57,266 1,51,446 - 1,64,606 41,627 - - - - - -
Net margin 10.9% 16.74% 19.68% -0.06% - 21.34% 20.42% 20.84% 18.84% 5.99% - 21.75% 19.56% 20.61% 20.28% 5.89% 13.48% 21.24% 19.25% - 19.93% 5.84% - - - - - -
EPS 2 68.74 97.23 126.9 -0.1900 - 69.94 78.86 148.8 78.73 21.92 100.6 81.52 80.18 161.7 87.31 22.68 110.0 88.58 83.95 - 88.35 24.23 - - - - - -
Dividend per Share 2 77.00 - 65.00 75.00 75.00 - 75.00 75.00 - 113.0 113.0 - 94.00 94.00 - 100.0 100.0 - 50.85 96.00 50.85 50.85 96.00 55.90 55.90 104.0 104.0 104.0
Announcement Date 06/02/20 31/07/20 30/07/21 14/02/22 14/02/22 28/04/22 29/07/22 29/07/22 31/10/22 14/02/23 14/02/23 02/05/23 31/07/23 31/07/23 31/10/23 13/02/24 13/02/24 09/05/24 - - - - - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,17,343 4,78,961 1,96,891 91,426 1,02,053 - - -
Net Cash position 1 - - - - - 1,39,231 2,81,878 4,49,976
Leverage (Debt/EBITDA) 0.8996 x 0.7383 x 0.287 x 0.1072 x 0.1198 x - - -
Free Cash Flow 1 4,08,976 4,11,213 5,01,410 3,81,977 4,41,653 4,82,088 4,72,905 5,21,172
ROE (net income / shareholders' equity) 13.2% 12% 12.7% 13.9% 13.1% 12.6% 13.4% 13.7%
ROA (Net income/ Total Assets) 8.45% 7.68% 8.47% 9.63% 8.99% 6.78% 6.9% 7.03%
Assets 1 41,21,738 40,38,023 39,96,755 45,96,237 53,65,283 73,71,413 76,92,150 81,03,941
Book Value Per Share 2 1,501 1,422 1,583 1,995 2,157 2,254 2,316 2,395
Cash Flow per Share 2 299.0 276.0 296.0 362.0 373.0 393.0 364.0 371.0
Capex 1 1,31,434 1,08,620 86,350 1,01,044 1,25,361 1,51,333 1,29,500 1,30,000
Capex / Sales 6.04% 5.19% 3.71% 3.8% 4.41% 5.03% 4.17% 4.05%
Announcement Date 06/02/20 09/02/21 14/02/22 14/02/23 13/02/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
4,432 JPY
Average target price
4,381 JPY
Spread / Average Target
-1.15%
Consensus
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