Financials Nihon Trim Co., Ltd.

Equities

6788

JP3739700007

Appliances, Tools & Housewares

Market Closed - Japan Exchange Other stock markets 11:30:00 02/05/2024 am IST			5-day change	1st Jan Change
3,380 ^JPY	-5.19%		-3.70%	+11.92%

2022	Tranche Update on Nihon Trim Co., Ltd.'s Equity Buyback Plan announced on October 19, 2021.	CI
2022	Nihon Trim Co., Ltd.'s Equity Buyback announced on October 19, 2021, has closed with 110,000 shares, representing 1.42% for ¥351.43 million.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	45,637	22,454	31,918	19,842	23,225	25,908	-	-
Enterprise Value (EV) ¹	35,776	13,936	22,209	7,469	10,430	25,908	25,908	25,908
P/E ratio	36.8 x	103 x	21 x	10.3 x	14.1 x	12.4 x	10.7 x	9.42 x
Yield	1.04%	2.46%	1.46%	2.33%	3.96%	2.52%	2.81%	3.37%
Capitalization / Revenue	3.01 x	1.39 x	2.14 x	1.22 x	1.29 x	1.26 x	1.15 x	1.04 x
EV / Revenue	3.01 x	1.39 x	2.14 x	1.22 x	1.29 x	1.26 x	1.15 x	1.04 x
EV / EBITDA	18.7 x	8.92 x	13.4 x	8.18 x	8.39 x	7.3 x	6.4 x	5.63 x
EV / FCF	2,67,51,013 x	1,47,62,882 x	1,94,61,892 x	2,72,17,664 x	1,38,74,727 x	-	1,45,14,245 x	2,33,40,474 x
FCF Yield	0%	0%	0%	0%	0%	-	0%	0%
Price to Book	2.67 x	1.34 x	1.83 x	1 x	1.1 x	1.16 x	1.07 x	0.98 x
Nbr of stocks (in thousands)	7,896	7,895	7,775	7,709	7,665	7,665	-	-
Reference price ²	5,780	2,844	4,105	2,574	3,030	3,565	3,565	3,565
Announcement Date	25/04/19	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	15,179	16,116	14,911	16,276	17,951	20,500	22,500	24,900
EBITDA ¹	2,435	2,519	2,389	2,427	2,768	3,550	4,050	4,600
EBIT ¹	2,250	2,303	2,187	1,998	2,378	3,100	3,550	4,100
Operating Margin	14.82%	14.29%	14.67%	12.28%	13.25%	15.12%	15.78%	16.47%
Earnings before Tax (EBT) ¹	2,055	1,018	2,369	2,091	2,523	3,200	3,650	4,200
Net income ¹	1,250	218	1,523	1,940	1,646	2,200	2,550	2,900
Net margin	8.24%	1.35%	10.21%	11.92%	9.17%	10.73%	11.33%	11.65%
EPS ²	157.0	27.67	195.4	250.6	214.8	287.0	332.7	378.3
Free Cash Flow	1,706	1,521	1,640	729	1,674	-	1,785	1,110
FCF margin	11.24%	9.44%	11%	4.48%	9.32%	-	7.93%	4.46%
FCF Conversion (EBITDA)	70.06%	60.39%	68.63%	30.04%	60.48%	-	44.07%	24.13%
FCF Conversion (Net income)	136.48%	697.71%	107.68%	37.58%	101.7%	-	70%	38.28%
Dividend per Share ²	60.00	70.00	60.00	60.00	120.0	90.00	100.0	120.0
Announcement Date	25/04/19	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	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2
Net sales ¹	8,693	7,423	7,393	7,518	4,413	8,411	4,101	3,764	7,865	4,332	4,749	9,081	4,330	4,540	4,796	5,656	10,452	5,166	4,883	10,049	5,400	6,050	11,450	5,640	5,410	11,050
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,615	688	1,160	1,027	726	1,213	499	286	785	508	712	1,220	513	645	554	1,132	1,686	786	628	1,414	710	1,240	1,950	880	720	1,600
Operating Margin	18.58%	9.27%	15.69%	13.66%	16.45%	14.42%	12.17%	7.6%	9.98%	11.73%	14.99%	13.43%	11.85%	14.21%	11.55%	20.01%	16.13%	15.21%	12.86%	14.07%	13.15%	20.5%	17.03%	15.6%	13.31%	14.48%
Earnings before Tax (EBT) ¹	1,532	-	1,240	1,129	750	1,253	526	312	838	542	782	1,324	551	-	616	1,174	1,790	816	620	1,436	730	1,280	2,010	900	740	1,640
Net income ¹	1,002	-784	796	727	791	1,455	307	178	485	327	520	847	342	457	425	768	1,193	517	490	1,007	520	850	1,370	600	580	1,180
Net margin	11.53%	-10.56%	10.77%	9.67%	17.92%	17.3%	7.49%	4.73%	6.17%	7.55%	10.95%	9.33%	7.9%	10.07%	8.86%	13.58%	11.41%	10.01%	10.03%	10.02%	9.63%	14.05%	11.97%	10.64%	10.72%	10.68%
EPS	127.0	-	102.0	-	-	187.2	39.79	-	-	42.66	-	110.6	44.62	-	55.49	-	155.8	67.37	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	29/10/19	14/05/20	29/10/20	13/05/21	09/11/21	09/11/21	08/02/22	12/05/22	12/05/22	04/08/22	08/11/22	08/11/22	07/02/23	11/05/23	08/08/23	08/11/23	08/11/23	07/02/24	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	9,861	8,518	9,709	12,373	12,795	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	1,706	1,521	1,640	729	1,674	-	1,785	1,110
ROE (net income / shareholders' equity)	7.2%	1.3%	8.9%	10.4%	8.1%	10.2%	11%	11.5%
ROA (Net income/ Total Assets)	9.09%	4.47%	9.96%	8.12%	9.04%	10.2%	10.8%	11.4%
Assets ¹	13,747	4,874	15,297	23,900	18,206	21,569	23,611	25,439
Book Value Per Share ²	2,163	2,129	2,240	2,585	2,743	3,080	3,345	3,652
Cash Flow per Share	180.0	54.90	221.0	306.0	265.0	-	-	-
Capex ¹	169	302	753	585	387	500	500	1,200
Capex / Sales	1.11%	1.87%	5.05%	3.59%	2.16%	2.44%	2.22%	4.82%
Announcement Date	25/04/19	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

Ratings for Nihon Trim Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,565 JPY

Average target price

6,500 JPY

Spread / Average Target

+82.33%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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