Financials LINTEC Corporation

Equities

7966

JP3977200009

Specialty Chemicals

Market Closed - Japan Exchange Other stock markets 11:30:00 26/04/2024 am IST			5-day change	1st Jan Change
3,085 ^JPY	+1.15%		+1.98%	+12.18%

2023	LINTEC Corporation(TSE:7966) dropped from FTSE All-World Index	CI
2023	LINTEC Corporation Reports Earnings Results for the Full Year Ended March 31, 2023	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,72,824	1,64,273	1,81,019	1,71,193	1,47,998	2,11,026	-	-
Enterprise Value (EV) ¹	1,27,867	1,20,188	1,24,475	1,19,883	1,12,528	1,80,926	1,86,326	1,83,226
P/E ratio	13.4 x	17.1 x	15.9 x	10.5 x	12.9 x	32.1 x	17.6 x	13.6 x
Yield	3.26%	3.43%	3.12%	3.62%	4.06%	2.85%	2.85%	2.85%
Capitalization / Revenue	0.69 x	0.68 x	0.77 x	0.67 x	0.52 x	0.77 x	0.71 x	0.68 x
EV / Revenue	0.51 x	0.5 x	0.53 x	0.47 x	0.4 x	0.66 x	0.62 x	0.59 x
EV / EBITDA	4.79 x	4.26 x	4.22 x	3.46 x	3.92 x	7.78 x	6.05 x	5.22 x
EV / FCF	10.2 x	25.7 x	6.16 x	24 x	-18.1 x	55.9 x	-1,540 x	26.8 x
FCF Yield	9.82%	3.9%	16.2%	4.17%	-5.51%	1.79%	-0.06%	3.73%
Price to Book	0.91 x	0.86 x	0.92 x	0.81 x	0.65 x	0.91 x	0.89 x	0.85 x
Nbr of stocks (in thousands)	72,191	72,240	72,292	70,421	68,359	68,404	-	-
Reference price ²	2,394	2,274	2,504	2,431	2,165	3,085	3,085	3,085
Announcement Date	09/05/19	08/05/20	10/05/21	09/05/22	08/05/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,50,942	2,40,727	2,35,902	2,56,836	2,84,603	2,74,967	2,98,367	3,11,533
EBITDA ¹	26,677	28,195	29,501	34,679	28,686	23,250	30,800	35,100
EBIT ¹	17,977	15,440	17,030	21,584	13,796	10,000	16,633	21,500
Operating Margin	7.16%	6.41%	7.22%	8.4%	4.85%	3.64%	5.57%	6.9%
Earnings before Tax (EBT) ¹	18,338	13,939	16,635	23,230	15,862	10,767	16,833	21,700
Net income ¹	12,937	9,620	11,407	16,641	11,512	6,567	12,000	15,500
Net margin	5.16%	4%	4.84%	6.48%	4.04%	2.39%	4.02%	4.98%
EPS ²	179.2	133.2	157.8	232.1	167.8	96.00	175.4	226.6
Free Cash Flow ¹	12,559	4,683	20,212	4,998	-6,202	3,237	-121	6,830
FCF margin	5%	1.95%	8.57%	1.95%	-2.18%	1.18%	-0.04%	2.19%
FCF Conversion (EBITDA)	47.08%	16.61%	68.51%	14.41%	-	13.92%	-	19.46%
FCF Conversion (Net income)	97.08%	48.68%	177.19%	30.03%	-	49.29%	-	44.06%
Dividend per Share ²	78.00	78.00	78.00	88.00	88.00	88.00	88.00	88.00
Announcement Date	09/05/19	08/05/20	10/05/21	09/05/22	08/05/23	-	-	-

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	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	1,18,765	1,11,486	63,263	1,25,640	65,605	65,591	1,31,196	69,497	74,925	1,44,422	72,130	68,051	1,40,181	65,036	66,699	1,31,735	71,794	71,438	1,41,065	71,800	73,200	76,000	75,300
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	6,948	6,324	5,324	11,729	6,041	3,814	9,855	5,393	4,383	9,776	3,470	550	4,020	1,358	1,832	3,190	3,326	3,484	6,810	3,000	3,400	4,300	4,300
Operating Margin	5.85%	5.67%	8.42%	9.34%	9.21%	5.81%	7.51%	7.76%	5.85%	6.77%	4.81%	0.81%	2.87%	2.09%	2.75%	2.42%	4.63%	4.88%	4.83%	4.18%	4.64%	5.66%	5.71%
Earnings before Tax (EBT) ¹	6,490	6,234	-	12,523	6,305	-	-	6,931	5,183	12,114	3,110	-	-	1,968	2,360	4,328	3,099	3,602	-	3,100	3,500	4,400	4,300
Net income ¹	4,542	4,159	3,337	8,792	4,581	3,268	-	5,159	3,632	8,791	2,284	437	-	1,100	866	1,966	2,028	2,006	-	2,200	2,400	3,100	3,000
Net margin	3.82%	3.73%	5.27%	7%	6.98%	4.98%	-	7.42%	4.85%	6.09%	3.17%	0.64%	-	1.69%	1.3%	1.49%	2.82%	2.81%	-	3.06%	3.28%	4.08%	3.98%
EPS	62.89	57.55	-	121.6	63.75	-	-	74.51	-	127.7	33.55	-	-	16.09	-	28.76	29.64	-	-	-	-	-	-
Dividend per Share	39.00	39.00	-	39.00	-	-	-	-	-	44.00	-	-	-	-	-	44.00	-	-	-	-	-	-	-
Announcement Date	08/11/19	09/11/20	08/11/21	08/11/21	09/02/22	09/05/22	09/05/22	08/08/22	10/11/22	10/11/22	10/02/23	08/05/23	08/05/23	09/08/23	08/11/23	08/11/23	08/02/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	44,957	44,085	56,544	51,310	35,470	30,100	24,700	27,800
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	12,559	4,683	20,212	4,998	-6,202	3,237	-121	6,830
ROE (net income / shareholders' equity)	6.9%	5%	5.9%	8.2%	5.3%	2.87%	5.13%	6.43%
ROA (Net income/ Total Assets)	6.17%	5.09%	6%	7.79%	5.13%	2.95%	4.5%	5.45%
Assets ¹	2,09,609	1,89,056	1,90,196	2,13,650	2,24,500	2,22,599	2,66,667	2,84,404
Book Value Per Share ²	2,626	2,654	2,723	2,996	3,311	3,386	3,474	3,612
Cash Flow per Share ²	300.0	265.0	287.0	370.0	330.0	310.0	386.0	442.0
Capex ¹	10,919	12,443	8,997	8,522	18,796	21,667	17,333	17,333
Capex / Sales	4.35%	5.17%	3.81%	3.32%	6.6%	7.88%	5.81%	5.56%
Announcement Date	09/05/19	08/05/20	10/05/21	09/05/22	08/05/23	-	-	-

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

Ratings for LINTEC Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,085 JPY

Average target price

3,733 JPY

Spread / Average Target

+21.02%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Adhesive & Epoxy