OTSUKA CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,105 JPY | +0.16% |
|
+0.06% | +6.83% |
| 09/04 | H. Lundbeck, Otsuka Pharmaceutical Seek US FDA Nod for PTSD Combination Therapy | MT |
| 29/03 | Otsuka Holdings Disposes of 2.32 Billion Yen Worth of Shares as Restricted Stock Compensation | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 8,29,505 | 10,33,327 | 10,40,911 | 7,87,793 | 11,02,150 | 11,77,422 | - | - |
| Enterprise Value (EV) 1 | 6,62,161 | 8,61,755 | 8,44,195 | 5,93,018 | 8,80,762 | 9,33,643 | 9,08,415 | 8,80,199 |
| P/E ratio | 19.1 x | 26.3 x | 26.1 x | 19.7 x | 23.2 x | 23.6 x | 20.9 x | 20.7 x |
| Yield | 2.51% | 2.11% | 2.19% | 3.01% | 2.32% | 2.34% | 2.56% | 2.72% |
| Capitalization / Revenue | 0.94 x | 1.24 x | 1.22 x | 0.91 x | 1.13 x | 1.11 x | 1.01 x | 1.01 x |
| EV / Revenue | 0.75 x | 1.03 x | 0.99 x | 0.69 x | 0.9 x | 0.88 x | 0.78 x | 0.75 x |
| EV / EBITDA | 9.54 x | 13.5 x | 13.2 x | 9.4 x | 12.4 x | 12 x | 10.4 x | 10 x |
| EV / FCF | 16.2 x | 36.5 x | 18 x | 26.8 x | 17.6 x | 19.1 x | 16.8 x | 14.3 x |
| FCF Yield | 6.18% | 2.74% | 5.57% | 3.73% | 5.7% | 5.25% | 5.96% | 7.01% |
| Price to Book | 3.2 x | 3.73 x | 3.48 x | 2.47 x | 3.21 x | 3.2 x | 2.96 x | 2.77 x |
| Nbr of stocks (in thousands) | 3,79,203 | 3,79,202 | 3,79,202 | 3,79,202 | 3,79,202 | 3,79,202 | - | - |
| Reference price 2 | 2,188 | 2,725 | 2,745 | 2,078 | 2,906 | 3,105 | 3,105 | 3,105 |
| Announcement Date | 03/02/20 | 01/02/21 | 01/02/22 | 01/02/23 | 01/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,86,536 | 8,36,323 | 8,51,894 | 8,61,022 | 9,77,370 | 10,58,737 | 11,60,483 | 11,66,162 |
| EBITDA 1 | 69,420 | 63,912 | 63,809 | 63,058 | 70,893 | 78,010 | 87,154 | 87,937 |
| EBIT 1 | 62,192 | 56,309 | 55,827 | 54,768 | 62,959 | 71,008 | 80,536 | 81,132 |
| Operating Margin | 7.02% | 6.73% | 6.55% | 6.36% | 6.44% | 6.71% | 6.94% | 6.96% |
| Earnings before Tax (EBT) 1 | 62,668 | 57,584 | 58,190 | 56,509 | 64,892 | 72,706 | 81,838 | 80,998 |
| Net income 1 | 43,497 | 39,309 | 39,927 | 40,022 | 47,448 | 49,900 | 56,853 | 57,048 |
| Net margin | 4.91% | 4.7% | 4.69% | 4.65% | 4.85% | 4.71% | 4.9% | 4.89% |
| EPS 2 | 114.7 | 103.7 | 105.3 | 105.5 | 125.1 | 131.5 | 148.8 | 149.8 |
| Free Cash Flow 1 | 40,902 | 23,632 | 46,991 | 22,119 | 50,176 | 48,985 | 54,097 | 61,718 |
| FCF margin | 4.61% | 2.83% | 5.52% | 2.57% | 5.13% | 4.63% | 4.66% | 5.29% |
| FCF Conversion (EBITDA) | 58.92% | 36.98% | 73.64% | 35.08% | 70.78% | 62.79% | 62.07% | 70.18% |
| FCF Conversion (Net income) | 94.03% | 60.12% | 117.69% | 55.27% | 105.75% | 98.16% | 95.15% | 108.19% |
| Dividend per Share 2 | 55.00 | 57.50 | 60.00 | 62.50 | 67.50 | 72.75 | 79.58 | 84.36 |
| Announcement Date | 03/02/20 | 01/02/21 | 01/02/22 | 01/02/23 | 01/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2021 S2 | 2022 Q1 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,36,382 | 4,32,943 | 4,03,380 | 4,66,625 | 1,85,521 | 1,99,748 | 3,85,269 | 2,10,069 | 2,35,267 | 4,45,336 | 1,96,863 | 2,18,823 | 4,15,686 | 2,42,609 | 2,78,447 | 5,21,056 | 2,19,002 | 2,37,312 | 2,56,479 | 2,92,143 | 5,42,200 | 2,38,590 | 2,67,474 |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 17,694 | 19,197 | 21,836 | - | 13,582 | 22,271 |
| EBIT 1 | 28,312 | 30,310 | 25,999 | 33,246 | 8,817 | 13,764 | 22,581 | 13,785 | 16,993 | 30,778 | 9,312 | 14,678 | 23,990 | 16,875 | 19,837 | 36,712 | 10,678 | 15,569 | 17,941 | 21,035 | 39,400 | 12,706 | 19,173 |
| Operating Margin | 6.49% | 7% | 6.45% | 7.12% | 4.75% | 6.89% | 5.86% | 6.56% | 7.22% | 6.91% | 4.73% | 6.71% | 5.77% | 6.96% | 7.12% | 7.05% | 4.88% | 6.56% | 7% | 7.2% | 7.27% | 5.33% | 7.17% |
| Earnings before Tax (EBT) 1 | 27,975 | 30,956 | 26,628 | 34,935 | 9,241 | 14,014 | - | 15,485 | 17,394 | 32,879 | 9,753 | 13,877 | - | 17,424 | 20,113 | 37,537 | 11,222 | 16,133 | 18,102 | 20,858 | - | 12,368 | 19,272 |
| Net income 1 | 19,975 | 20,789 | 18,520 | 23,657 | 6,264 | 10,006 | 16,270 | 10,519 | 12,329 | 22,848 | 6,891 | 10,283 | 17,174 | 11,591 | 13,826 | 25,417 | 7,718 | 14,313 | 12,257 | 14,507 | 27,400 | 8,688 | 14,228 |
| Net margin | 4.58% | 4.8% | 4.59% | 5.07% | 3.38% | 5.01% | 4.22% | 5.01% | 5.24% | 5.13% | 3.5% | 4.7% | 4.13% | 4.78% | 4.97% | 4.88% | 3.52% | 6.03% | 4.78% | 4.97% | 5.05% | 3.64% | 5.32% |
| EPS 2 | 52.68 | 54.82 | 48.84 | 62.39 | 16.52 | 26.39 | 42.90 | 27.74 | 32.52 | 60.26 | 18.17 | 27.12 | 45.29 | 30.57 | 36.46 | 67.03 | 20.36 | 37.74 | 32.49 | 37.85 | - | 23.02 | 34.28 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 03/02/20 | 07/08/20 | 01/02/21 | 02/08/21 | 29/10/21 | 01/02/22 | 01/02/22 | 28/04/22 | 01/08/22 | 01/08/22 | 31/10/22 | 01/02/23 | 01/02/23 | 01/05/23 | 01/08/23 | 01/08/23 | 31/10/23 | 01/02/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,67,344 | 1,71,572 | 1,96,716 | 1,94,775 | 2,21,388 | 2,43,779 | 2,69,007 | 2,97,223 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 40,902 | 23,632 | 46,991 | 22,119 | 50,176 | 48,985 | 54,097 | 61,718 |
| ROE (net income / shareholders' equity) | 17.8% | 14.6% | 13.9% | 13% | 14.3% | 14.3% | 15.2% | 14% |
| ROA (Net income/ Total Assets) | 14.7% | 12.3% | 12% | 11.2% | 11.9% | 10.6% | 11.2% | 10.6% |
| Assets 1 | 2,96,511 | 3,18,674 | 3,32,065 | 3,56,583 | 3,98,907 | 4,70,540 | 5,06,525 | 5,40,580 |
| Book Value Per Share 2 | 684.0 | 731.0 | 788.0 | 842.0 | 905.0 | 970.0 | 1,049 | 1,120 |
| Cash Flow per Share 2 | 134.0 | 124.0 | 126.0 | 127.0 | 146.0 | 165.0 | 181.0 | 194.0 |
| Capex 1 | 7,860 | 8,864 | 10,882 | 7,077 | 10,346 | 7,859 | 8,318 | 8,546 |
| Capex / Sales | 0.89% | 1.06% | 1.28% | 0.82% | 1.06% | 0.74% | 0.72% | 0.73% |
| Announcement Date | 03/02/20 | 01/02/21 | 01/02/22 | 01/02/23 | 01/02/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
C
Sell
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
3,105
JPY
Average target price
3,591
JPY
Spread / Average Target
+15.65%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.83% | 7.48B | |
| -7.42% | 31.57B | |
| +0.21% | 15.14B | |
| -6.71% | 8.91B | |
| +3.85% | 4.94B | |
| -45.75% | 4.44B | |
| +12.35% | 2.99B | |
| +8.53% | 2.44B | |
| -13.45% | 2.36B | |
| -15.17% | 2.06B |
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