MITSUBISHI ESTATE CO., LTD. Financials Mitsubishi Estate Co., Ltd.
Equities
8802
JP3899600005
Real Estate Development & Operations
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,896 JPY | +3.17% |
|
+2.80% | +49.20% |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 27,83,904 | 21,34,907 | 25,86,793 | 24,05,831 | 20,52,406 | 35,54,967 | - | - |
| Enterprise Value (EV) 1 | 49,15,326 | 42,97,250 | 49,36,172 | 49,10,131 | 46,94,023 | 63,32,182 | 64,27,353 | 65,66,947 |
| P/E ratio | 20.7 x | 14.7 x | 19.1 x | 15.6 x | 12.6 x | 21.1 x | 19.6 x | 18.3 x |
| Yield | 1.5% | 2.07% | 1.6% | 1.98% | 2.41% | 1.44% | 1.57% | 1.7% |
| Capitalization / Revenue | 2.2 x | 1.64 x | 2.14 x | 1.78 x | 1.49 x | 2.42 x | 2.36 x | 2.27 x |
| EV / Revenue | 3.89 x | 3.3 x | 4.09 x | 3.64 x | 3.41 x | 4.32 x | 4.27 x | 4.2 x |
| EV / EBITDA | 15.9 x | 13.3 x | 15.7 x | 13.3 x | 12.1 x | 17.3 x | 16.4 x | 16 x |
| EV / FCF | 65.7 x | -131 x | -33.8 x | -146 x | -111 x | -29.2 x | -90.5 x | -63.2 x |
| FCF Yield | 1.52% | -0.76% | -2.96% | -0.69% | -0.9% | -3.43% | -1.1% | -1.58% |
| Price to Book | 1.57 x | 1.23 x | 1.4 x | 1.2 x | 0.95 x | 1.57 x | 1.49 x | 1.4 x |
| Nbr of stocks (in thousands) | 13,88,134 | 13,38,500 | 13,38,573 | 13,22,612 | 13,01,875 | 12,66,239 | - | - |
| Reference price 2 | 2,006 | 1,595 | 1,932 | 1,819 | 1,576 | 2,808 | 2,808 | 2,808 |
| Announcement Date | 14/05/19 | 14/05/20 | 13/05/21 | 12/05/22 | 11/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 12,63,283 | 13,02,196 | 12,07,594 | 13,49,489 | 13,77,827 | 14,66,146 | 15,04,042 | 15,63,463 |
| EBITDA 1 | 3,09,514 | 3,22,287 | 3,13,501 | 3,70,558 | 3,88,283 | 3,65,463 | 3,91,923 | 4,11,487 |
| EBIT 1 | 2,29,178 | 2,40,768 | 2,24,394 | 2,78,977 | 2,96,702 | 2,69,095 | 2,92,342 | 3,10,291 |
| Operating Margin | 18.14% | 18.49% | 18.58% | 20.67% | 21.53% | 18.35% | 19.44% | 19.85% |
| Earnings before Tax (EBT) 1 | 2,10,939 | 2,23,949 | 2,01,265 | 2,53,779 | 2,52,902 | 2,62,710 | 2,75,108 | 2,91,212 |
| Net income 1 | 1,34,608 | 1,48,451 | 1,35,655 | 1,55,171 | 1,65,343 | 1,68,613 | 1,78,991 | 1,89,935 |
| Net margin | 10.66% | 11.4% | 11.23% | 11.5% | 12% | 11.5% | 11.9% | 12.15% |
| EPS 2 | 96.97 | 108.6 | 101.3 | 116.4 | 125.5 | 132.8 | 143.0 | 153.7 |
| Free Cash Flow 1 | 74,871 | -32,867 | -1,46,217 | -33,688 | -42,132 | -2,17,050 | -71,000 | -1,03,900 |
| FCF margin | 5.93% | -2.52% | -12.11% | -2.5% | -3.06% | -14.8% | -4.72% | -6.65% |
| FCF Conversion (EBITDA) | 24.19% | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | 55.62% | - | - | - | - | - | - | - |
| Dividend per Share 2 | 30.00 | 33.00 | 31.00 | 36.00 | 38.00 | 40.36 | 44.00 | 47.70 |
| Announcement Date | 14/05/19 | 14/05/20 | 13/05/21 | 12/05/22 | 11/05/23 | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,35,226 | 7,66,970 | 5,27,312 | 6,80,282 | 2,71,621 | 5,79,023 | 3,25,547 | 4,44,919 | 7,70,466 | 3,05,367 | 2,89,198 | 5,94,565 | 3,11,759 | 4,71,503 | 7,83,262 | 2,92,465 | 2,95,468 | 5,87,933 | 3,38,515 | 5,34,692 | 8,35,807 | 3,00,086 | 2,92,807 | 5,90,000 | 3,36,647 | - |
| EBITDA | 1,35,422 | - | 1,41,303 | - | - | 1,56,623 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 84,000 | - | 1,63,500 | - | - |
| EBIT 1 | 92,276 | 1,48,492 | 98,072 | 1,26,322 | 49,095 | 1,11,658 | 60,682 | 1,06,637 | 1,67,319 | 83,518 | 58,560 | 1,42,078 | 57,934 | 96,690 | 1,54,624 | 48,400 | 41,914 | 90,314 | 56,507 | 1,21,906 | 1,80,886 | 59,499 | 54,914 | 1,15,500 | 62,379 | - |
| Operating Margin | 17.24% | 19.36% | 18.6% | 18.57% | 18.07% | 19.28% | 18.64% | 23.97% | 21.72% | 27.35% | 20.25% | 23.9% | 18.58% | 20.51% | 19.74% | 16.55% | 14.19% | 15.36% | 16.69% | 22.8% | 21.64% | 19.83% | 18.75% | 19.58% | 18.53% | - |
| Earnings before Tax (EBT) 1 | 81,083 | - | 82,310 | - | 33,475 | 91,149 | 55,160 | 1,07,470 | - | 84,564 | 38,622 | 1,23,186 | 45,249 | 84,467 | - | 46,340 | 36,230 | 82,570 | 57,009 | 1,18,421 | - | 57,000 | - | 1,05,000 | - | - |
| Net income 1 | 48,078 | 1,00,373 | 50,939 | 84,716 | 20,579 | 55,287 | 31,855 | 68,029 | 99,884 | 61,553 | 14,789 | 76,342 | 26,467 | 62,534 | 89,001 | 19,269 | 22,277 | 41,546 | 36,001 | 88,722 | 1,28,554 | 33,609 | 33,263 | 65,000 | 40,005 | - |
| Net margin | 8.98% | 13.09% | 9.66% | 12.45% | 7.58% | 9.55% | 9.79% | 15.29% | 12.96% | 20.16% | 5.11% | 12.84% | 8.49% | 13.26% | 11.36% | 6.59% | 7.54% | 7.07% | 10.63% | 16.59% | 15.38% | 11.2% | 11.36% | 11.02% | 11.88% | - |
| EPS 2 | 34.85 | - | 38.05 | - | 15.43 | 41.36 | 23.92 | 51.17 | - | 46.54 | 11.17 | 57.71 | 20.08 | 47.75 | - | 14.93 | 17.41 | 32.34 | 28.27 | 70.90 | - | 26.30 | 26.22 | 50.59 | 31.53 | - |
| Dividend per Share 2 | 15.00 | - | 12.00 | - | 16.00 | 16.00 | - | 20.00 | - | - | 19.00 | 19.00 | - | 19.00 | - | - | 20.00 | 20.00 | - | 20.50 | - | - | 23.00 | 22.00 | - | 23.00 |
| Announcement Date | 07/11/19 | 14/05/20 | 11/11/20 | 13/05/21 | 10/11/21 | 10/11/21 | 10/02/22 | 12/05/22 | 12/05/22 | 05/08/22 | 10/11/22 | 10/11/22 | 09/02/23 | 11/05/23 | 11/05/23 | 10/08/23 | 09/11/23 | 09/11/23 | 09/02/24 | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 21,31,422 | 21,62,343 | 23,49,379 | 25,04,300 | 26,41,617 | 27,77,215 | 28,72,386 | 30,11,980 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.886 x | 6.709 x | 7.494 x | 6.758 x | 6.803 x | 7.599 x | 7.329 x | 7.32 x |
| Free Cash Flow 1 | 74,871 | -32,867 | -1,46,217 | -33,688 | -42,132 | -2,17,050 | -71,000 | -1,03,900 |
| ROE (net income / shareholders' equity) | 7.8% | 8.5% | 7.6% | 8.1% | 7.9% | 7.65% | 7.99% | 8.11% |
| ROA (Net income/ Total Assets) | 3.57% | 3.78% | 3.54% | 4.04% | 4.07% | 3.25% | 3.47% | 3.56% |
| Assets 1 | 37,71,959 | 39,32,300 | 38,35,866 | 38,42,864 | 40,65,118 | 51,88,101 | 51,64,206 | 53,35,257 |
| Book Value Per Share 2 | 1,276 | 1,296 | 1,383 | 1,515 | 1,664 | 1,789 | 1,890 | 1,999 |
| Cash Flow per Share 2 | 155.0 | 168.0 | 168.0 | 185.0 | 197.0 | 212.0 | 232.0 | 257.0 |
| Capex 1 | 3,12,324 | 3,74,633 | 3,53,631 | 3,47,694 | 2,98,439 | 4,19,080 | 3,42,280 | 3,44,120 |
| Capex / Sales | 24.72% | 28.77% | 29.28% | 25.76% | 21.66% | 28.58% | 22.76% | 22.01% |
| Announcement Date | 14/05/19 | 14/05/20 | 13/05/21 | 12/05/22 | 11/05/23 | - | - | - |
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
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
2,808
JPY
Average target price
3,038
JPY
Spread / Average Target
+8.22%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +49.20% | 22.69B | |
| +39.24% | 28.07B | |
| -13.56% | 26.92B | |
| +22.66% | 26.28B | |
| +0.18% | 26.06B | |
| +2.78% | 19.59B | |
| +5.09% | 20.3B | |
| +30.23% | 16.31B | |
| -13.90% | 15.03B | |
| -1.04% | 14.75B |
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- Financials Mitsubishi Estate Co., Ltd.
