Financials Oriental Land Co., Ltd. BOERSE MUENCHEN

Equities

OLL

JP3198900007

Leisure & Recreation

Market Closed - BOERSE MUENCHEN Other stock markets 01:14:02 29/06/2024 am IST			5-day change	1st Jan Change
25.8 ^EUR	-2.27%		-3.01%	-23.21%

27/06	Oriental Land Co., Ltd. Approves the Appointment of Koichiro Watanabe as Executive Director	CI
29/04	Oriental Land Plans to Establish Children's Happiness Foundation	MT

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	41,32,592	45,24,124	54,43,794	77,00,005	74,16,245	73,43,459	-	-
Enterprise Value (EV) ¹	38,42,465	43,30,029	53,99,205	77,07,785	73,58,981	77,56,412	71,14,073	70,22,692
P/E ratio	45.8 x	73 x	-100 x	955 x	91.9 x	66.1 x	54.6 x	48.1 x
Yield	0.33%	0.32%	0.16%	0.12%	0.18%	0.27%	0.32%	0.36%
Capitalization / Revenue	7.86 x	9.74 x	31.9 x	27.9 x	15.4 x	12.8 x	10.3 x	9.64 x
EV / Revenue	7.31 x	9.32 x	31.7 x	28 x	15.2 x	12.5 x	10 x	9.22 x
EV / EBITDA	22.9 x	31.8 x	-59,991 x	149 x	46.7 x	36.6 x	27.6 x	24.2 x
EV / FCF	78.5 x	-65.3 x	-40.9 x	-169 x	316 x	61.8 x	76.1 x	55.4 x
FCF Yield	1.27%	-1.53%	-2.45%	-0.59%	0.32%	1.62%	1.31%	1.8%
Price to Book	5.15 x	5.52 x	7.16 x	10.2 x	8.94 x	8.37 x	7.07 x	6.43 x
Nbr of stocks (in thousands)	16,43,831	16,36,803	16,37,231	16,37,602	16,37,863	16,38,434	-	-
Reference price ²	2,514	2,764	3,325	4,702	4,528	4,482	4,482	4,482
Announcement Date	25/04/19	28/04/20	28/04/21	27/04/22	27/04/23	26/04/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,25,622	4,64,450	1,70,581	2,75,728	4,83,123	6,18,493	7,10,976	7,61,676
EBITDA ¹	1,67,492	1,36,309	-90	51,836	1,57,526	2,12,139	2,57,891	2,89,896
EBIT ¹	1,29,278	96,862	-45,989	7,733	1,11,199	1,65,437	1,89,828	2,14,685
Operating Margin	24.6%	20.86%	-26.96%	2.8%	23.02%	26.75%	26.7%	28.19%
Earnings before Tax (EBT) ¹	1,29,439	89,133	-67,804	11,699	1,12,028	1,66,005	1,91,962	2,19,082
Net income ¹	90,286	62,217	-54,190	8,067	80,734	1,20,225	1,34,552	1,52,284
Net margin	17.18%	13.4%	-31.77%	2.93%	16.71%	19.44%	18.92%	19.99%
EPS ²	54.93	37.85	-33.10	4.926	49.29	73.39	82.16	93.09
Free Cash Flow ¹	48,924	-66,290	-1,32,156	-45,667	23,303	1,25,594	93,489	1,26,665
FCF margin	9.31%	-14.27%	-77.47%	-16.56%	4.82%	20.31%	13.15%	16.63%
FCF Conversion (EBITDA)	29.21%	-	-	-	14.79%	59.2%	36.25%	43.69%
FCF Conversion (Net income)	54.19%	-	-	-	28.86%	104.47%	69.48%	83.18%
Dividend per Share ²	8.400	8.800	5.200	5.600	8.000	13.00	14.37	15.97
Announcement Date	25/04/19	28/04/20	28/04/21	27/04/22	27/04/23	26/04/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März	2020 S1	2020 S2	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	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4
Net sales ¹	2,48,428	2,16,022	59,149	47,747	97,568	92,700	85,415	1,78,160	98,166	1,05,877	2,04,043	1,46,982	1,32,098	2,79,080	1,40,604	1,43,696	2,84,300	1,81,900	1,52,293	1,53,189	1,73,160	3,24,450	2,03,296	1,79,260
EBITDA ¹	76,929	-	-	-	-	-	20,496	-	-	32,264	60,655	59,248	37,623	-	-	49,906	-	76,267	35,741	-	-	-	-	-
EBIT ¹	60,939	35,923	-24,178	-10,548	-19,380	17,700	9,350	27,113	17,062	20,931	37,993	47,658	25,548	73,206	38,680	38,320	77,000	64,600	23,837	35,535	43,143	74,700	70,904	36,535
Operating Margin	24.53%	16.63%	-40.88%	-22.09%	-19.86%	19.09%	10.95%	15.22%	17.38%	19.77%	18.62%	32.42%	19.34%	26.23%	27.51%	26.67%	27.08%	35.51%	15.65%	23.2%	24.92%	23.02%	34.88%	20.38%
Earnings before Tax (EBT) ¹	62,078	27,055	-38,078	-10,327	-18,598	18,500	11,714	-	17,501	21,083	38,584	47,800	25,644	73,444	39,058	38,642	77,745	64,700	23,560	-	-	-	-	-
Net income ¹	43,084	19,133	-30,095	-8,132	-14,191	13,000	9,219	22,258	12,105	14,354	26,459	33,603	20,672	54,275	27,439	27,061	54,549	45,300	20,376	20,720	24,650	45,370	41,470	36,960
Net margin	17.34%	8.86%	-50.88%	-17.03%	-14.54%	14.02%	10.79%	12.49%	12.33%	13.56%	12.97%	22.86%	15.65%	19.45%	19.52%	18.83%	19.19%	24.9%	13.38%	13.53%	14.24%	13.98%	20.4%	20.62%
EPS ²	26.21	-	-18.38	-	-8.668	7.964	5.630	-	7.392	8.764	16.16	20.52	12.62	-	16.75	16.55	33.30	27.64	12.45	15.92	21.28	-	31.92	13.98
Dividend per Share ²	4.400	-	2.600	-	2.600	-	3.000	-	-	3.600	3.600	-	4.400	-	-	5.000	5.000	-	8.000	-	-	-	-	-
Announcement Date	30/10/19	28/04/20	29/10/20	28/10/21	28/10/21	28/01/22	27/04/22	27/04/22	28/07/22	27/10/22	27/10/22	30/01/23	27/04/23	27/04/23	28/07/23	30/10/23	30/10/23	30/01/24	26/04/24	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	7,780	-	-	-	-
Net Cash position ¹	2,90,127	1,94,095	44,589	-	57,264	1,88,061	2,29,387	3,20,767
Leverage (Debt/EBITDA)	-	-	-	0.1501 x	-	-	-	-
Free Cash Flow ¹	48,924	-66,290	-1,32,156	-45,667	23,303	1,25,594	93,489	1,26,665
ROE (net income / shareholders' equity)	11.8%	7.7%	-6.9%	1.08%	10.2%	13.5%	13.5%	13.9%
ROA (Net income/ Total Assets)	13.2%	9.51%	-4.8%	0.76%	9.75%	13%	10.2%	10.3%
Assets ¹	6,86,015	6,54,168	11,29,457	10,63,673	8,28,112	9,27,600	13,14,411	14,82,879
Book Value Per Share ²	489.0	501.0	464.0	462.0	507.0	580.0	634.0	697.0
Cash Flow per Share ²	78.20	61.80	-5.060	31.90	77.60	102.0	121.0	137.0
Capex ¹	86,050	1,39,626	1,08,322	1,00,269	99,472	72,080	88,977	77,557
Capex / Sales	16.37%	30.06%	63.5%	36.37%	20.59%	11.65%	12.51%	10.18%
Announcement Date	25/04/19	28/04/20	28/04/21	27/04/22	27/04/23	26/04/24	-	-

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

Ratings for Oriental Land Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

4,482 JPY

Average target price

5,296 JPY

Spread / Average Target

+18.17%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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