MAZDA MOTOR CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,804 JPY | +7.51% |
|
+7.09% | +18.41% |
| 26/04 | TAKE A LOOK-Beijing auto show | RE |
| 26/04 | Beijing auto show: Themes and highlights | RE |
Valuation
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,79,958 | 3,60,238 | 5,68,067 | 5,72,547 | 7,71,705 | 11,36,657 | - | - |
| Enterprise Value (EV) 1 | 6,84,357 | 4,11,146 | 5,84,994 | 5,09,612 | 6,78,702 | 8,69,028 | 7,88,323 | 6,72,636 |
| P/E ratio | 12.3 x | 29.7 x | -17.9 x | 7.02 x | 5.4 x | 5.92 x | 5.71 x | 5.53 x |
| Yield | 2.83% | 6.12% | - | 2.2% | 3.67% | 3.08% | 3.78% | 4.22% |
| Capitalization / Revenue | 0.22 x | 0.11 x | 0.2 x | 0.18 x | 0.2 x | 0.23 x | 0.22 x | 0.22 x |
| EV / Revenue | 0.19 x | 0.12 x | 0.2 x | 0.16 x | 0.18 x | 0.18 x | 0.15 x | 0.13 x |
| EV / EBITDA | 3.99 x | 3.03 x | 5.93 x | 2.62 x | 2.74 x | 2.31 x | 2.03 x | 1.69 x |
| EV / FCF | 45.4 x | -5.65 x | 14.2 x | 9.63 x | 17.9 x | 4.07 x | 4.53 x | 3.32 x |
| FCF Yield | 2.2% | -17.7% | 7.04% | 10.4% | 5.6% | 24.5% | 22.1% | 30.1% |
| Price to Book | 0.64 x | 0.31 x | 0.48 x | 0.44 x | 0.54 x | 0.71 x | 0.65 x | 0.59 x |
| Nbr of stocks (in thousands) | 6,29,760 | 6,29,787 | 6,29,786 | 6,29,865 | 6,29,963 | 6,30,076 | - | - |
| Reference price 2 | 1,238 | 572.0 | 902.0 | 909.0 | 1,225 | 1,804 | 1,804 | 1,804 |
| Announcement Date | 09/05/19 | 14/05/20 | 14/05/21 | 13/05/22 | 12/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 35,64,696 | 34,30,000 | 28,82,066 | 31,20,349 | 38,26,800 | 48,69,682 | 51,07,949 | 52,49,996 |
| EBITDA 1 | 1,71,456 | 1,35,872 | 98,585 | 1,94,508 | 2,47,950 | 3,75,742 | 3,88,744 | 3,97,091 |
| EBIT 1 | 83,013 | 43,600 | 8,820 | 1,04,227 | 1,42,000 | 2,61,116 | 2,72,670 | 2,80,483 |
| Operating Margin | 2.33% | 1.27% | 0.31% | 3.34% | 3.71% | 5.36% | 5.34% | 5.34% |
| Earnings before Tax (EBT) 1 | 1,08,273 | 49,282 | 2,202 | 1,12,399 | 1,70,000 | 2,85,114 | 2,79,737 | 2,90,139 |
| Net income 1 | 63,476 | 12,131 | -31,651 | 81,557 | 1,42,800 | 1,92,053 | 1,99,088 | 2,05,511 |
| Net margin | 1.78% | 0.35% | -1.1% | 2.61% | 3.73% | 3.94% | 3.9% | 3.91% |
| EPS 2 | 100.8 | 19.26 | -50.26 | 129.5 | 226.7 | 304.7 | 315.9 | 326.0 |
| Free Cash Flow 1 | 15,079 | -72,715 | 41,196 | 52,918 | 37,997 | 2,13,307 | 1,74,173 | 2,02,596 |
| FCF margin | 0.42% | -2.12% | 1.43% | 1.7% | 0.99% | 4.38% | 3.41% | 3.86% |
| FCF Conversion (EBITDA) | 8.79% | - | 41.79% | 27.21% | 15.32% | 56.77% | 44.8% | 51.02% |
| FCF Conversion (Net income) | 23.76% | - | - | 64.88% | 26.61% | 111.07% | 87.49% | 98.58% |
| Dividend per Share 2 | 35.00 | 35.00 | - | 20.00 | 45.00 | 55.60 | 68.14 | 76.08 |
| Announcement Date | 09/05/19 | 14/05/20 | 14/05/21 | 13/05/22 | 12/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 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 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,06,574 | 17,23,430 | 11,15,759 | 17,66,300 | 6,92,456 | 14,95,855 | 6,66,524 | 9,57,970 | 16,24,494 | 6,17,223 | 10,25,283 | 16,42,506 | 10,53,749 | 11,30,500 | 21,84,300 | 10,91,000 | 12,26,288 | 23,17,259 | 12,49,229 | 12,94,430 | 25,65,095 | 12,36,972 | 12,94,400 | 26,39,981 | 12,48,035 | 14,11,726 | 28,02,345 | 27,69,747 | 29,41,591 |
| EBITDA 1 | - | - | - | - | 21,734 | - | 45,722 | 65,057 | - | 5,594 | 1,01,054 | - | 81,395 | 59,871 | - | 57,488 | 1,27,890 | - | 99,603 | 84,298 | - | 90,157 | 1,09,179 | - | 1,05,454 | 93,408 | - | - | - |
| EBIT 1 | 25,811 | 17,789 | -52,863 | 61,700 | 13,635 | 39,741 | 23,921 | 40,565 | 64,486 | -19,528 | 74,769 | 55,241 | 54,223 | 32,500 | 86,800 | 30,000 | 99,586 | 1,29,611 | 70,591 | 60,055 | 1,21,878 | 77,375 | 78,949 | 1,90,123 | 68,211 | 54,365 | 56,783 | 1,78,987 | 97,541 |
| Operating Margin | 1.51% | 1.03% | -4.74% | 3.49% | 1.97% | 2.66% | 3.59% | 4.23% | 3.97% | -3.16% | 7.29% | 3.36% | 5.15% | 2.87% | 3.97% | 2.75% | 8.12% | 5.59% | 5.65% | 4.64% | 4.75% | 6.26% | 6.1% | 7.2% | 5.47% | 3.85% | 2.03% | 6.46% | 3.32% |
| Earnings before Tax (EBT) 1 | 32,706 | 16,576 | -75,165 | 77,400 | 10,480 | 35,904 | 14,990 | 61,505 | 76,495 | 20,289 | 89,035 | 1,09,324 | 13,029 | 47,600 | 60,700 | 63,200 | 1,14,069 | 1,77,228 | 58,096 | 56,654 | 1,25,010 | 1,01,890 | 77,869 | 1,96,118 | 54,237 | 58,283 | 67,339 | 1,87,507 | 1,12,435 |
| Net income 1 | 16,617 | -4,486 | -93,028 | 61,300 | 12,477 | 23,854 | 5,572 | 52,131 | 57,703 | 14,997 | 70,862 | 85,859 | 17,712 | 39,200 | 56,900 | 37,200 | 70,890 | 1,08,132 | 57,360 | 27,027 | 97,000 | 46,853 | 59,565 | - | 59,525 | 48,542 | - | - | - |
| Net margin | 0.97% | -0.26% | -8.34% | 3.47% | 1.8% | 1.59% | 0.84% | 5.44% | 3.55% | 2.43% | 6.91% | 5.23% | 1.68% | 3.47% | 2.6% | 3.41% | 5.78% | 4.67% | 4.59% | 2.09% | 3.78% | 3.79% | 4.6% | - | 4.77% | 3.44% | - | - | - |
| EPS 2 | 26.39 | -7.130 | -147.7 | 97.45 | 19.81 | 37.87 | 8.850 | 82.77 | 91.62 | 23.81 | 112.5 | 136.3 | 28.11 | 62.30 | 90.40 | 59.10 | 112.5 | 171.6 | 91.04 | 56.93 | 186.4 | 105.0 | 97.16 | 249.8 | 62.93 | 69.00 | 81.46 | 239.6 | 143.7 |
| Dividend per Share 2 | 15.00 | 20.00 | - | - | - | - | - | 20.00 | 20.00 | - | 20.00 | 20.00 | - | 25.00 | 25.00 | - | 25.00 | 25.00 | - | 35.00 | - | - | 30.00 | - | - | 40.00 | - | - | - |
| Announcement Date | 01/11/19 | 14/05/20 | 09/11/20 | 14/05/21 | 10/11/21 | 10/11/21 | 10/02/22 | 13/05/22 | 13/05/22 | 09/08/22 | 10/11/22 | 10/11/22 | 10/02/23 | 12/05/23 | 12/05/23 | 08/08/23 | 07/11/23 | 07/11/23 | 09/02/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 50,908 | 16,927 | - | - | - | - | - |
| Net Cash position 1 | 95,601 | - | - | 62,935 | 93,003 | 2,67,629 | 3,48,334 | 4,64,021 |
| Leverage (Debt/EBITDA) | - | 0.3747 x | 0.1717 x | - | - | - | - | - |
| Free Cash Flow 1 | 15,079 | -72,715 | 41,196 | 52,918 | 37,997 | 2,13,307 | 1,74,173 | 2,02,596 |
| ROE (net income / shareholders' equity) | 5.3% | 1% | -2.7% | 6.6% | 10.4% | 12.4% | 11.7% | 11.3% |
| ROA (Net income/ Total Assets) | 4.17% | 1.88% | 0.99% | 4.2% | 5.97% | 6.92% | 6.93% | 7.06% |
| Assets 1 | 15,21,597 | 6,46,487 | -31,95,812 | 19,42,962 | 23,91,339 | 27,77,003 | 28,72,473 | 29,10,867 |
| Book Value Per Share 2 | 1,935 | 1,866 | 1,876 | 2,066 | 2,285 | 2,536 | 2,785 | 3,033 |
| Cash Flow per Share 2 | 241.0 | 166.0 | 92.30 | 273.0 | 395.0 | 519.0 | 524.0 | 550.0 |
| Capex 1 | 1,19,734 | 1,07,549 | 92,972 | 1,44,332 | 94,139 | 1,32,518 | 1,43,000 | 1,43,468 |
| Capex / Sales | 3.36% | 3.14% | 3.23% | 4.63% | 2.46% | 2.72% | 2.8% | 2.73% |
| Announcement Date | 09/05/19 | 14/05/20 | 14/05/21 | 13/05/22 | 12/05/23 | - | - | - |
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
16
Last Close Price
1,804
JPY
Average target price
1,939
JPY
Spread / Average Target
+7.50%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +18.41% | 6.75B | |
| +40.44% | 302B | |
| +13.41% | 82.87B | |
| +1.66% | 72.08B | |
| +3.00% | 70.85B | |
| +23.60% | 53.87B | |
| +24.01% | 52.5B | |
| +0.33% | 50.9B | |
| +29.09% | 43.96B | |
| +23.34% | 39.79B |
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