Financials Sanwa Holdings Corporation

Equities

5929

JP3344400001

Construction Supplies & Fixtures

Market Closed - Japan Exchange 11:30:00 02/05/2024 am IST 5-day change 1st Jan Change
2,603 JPY +0.68% Intraday chart for Sanwa Holdings Corporation +4.88% +21.72%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,96,298 1,83,018 3,20,073 2,74,845 3,12,957 5,65,913 - -
Enterprise Value (EV) 1 3,14,507 1,92,801 3,42,308 2,69,654 2,98,556 5,32,151 5,06,247 4,82,535
P/E ratio 14.2 x 8.69 x 15.1 x 12 x 9.46 x 13.6 x 14 x 13.5 x
Yield 2.43% 4.03% 2.35% 2.89% 4.1% 2.63% 2.73% 2.87%
Capitalization / Revenue 0.72 x 0.42 x 0.75 x 0.59 x 0.53 x 0.93 x 0.89 x 0.87 x
EV / Revenue 0.77 x 0.44 x 0.8 x 0.58 x 0.51 x 0.87 x 0.8 x 0.74 x
EV / EBITDA 7.65 x 4.21 x 7.67 x 5.57 x 4.2 x 6.99 x 6.7 x 6.28 x
EV / FCF 26.4 x 8.07 x 8.27 x -326 x 16.2 x 14 x 15.2 x 14.9 x
FCF Yield 3.78% 12.4% 12.1% -0.31% 6.19% 7.14% 6.58% 6.7%
Price to Book 1.85 x 1.14 x 1.78 x 1.36 x 1.3 x 2.13 x 1.96 x 1.81 x
Nbr of stocks (in thousands) 2,24,979 2,16,846 2,20,893 2,20,936 2,21,015 2,18,880 - -
Reference price 2 1,317 844.0 1,449 1,244 1,416 2,586 2,586 2,586
Announcement Date 14/05/19 14/05/20 14/05/21 13/05/22 15/05/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,09,990 4,40,161 4,27,061 4,68,956 5,88,159 6,09,536 6,33,950 6,52,296
EBITDA 1 41,091 45,778 44,651 48,438 71,093 76,134 75,544 76,882
EBIT 1 31,593 34,217 33,077 35,487 56,307 61,383 61,058 62,854
Operating Margin 7.71% 7.77% 7.75% 7.57% 9.57% 10.07% 9.63% 9.64%
Earnings before Tax (EBT) 1 30,046 32,306 31,509 33,703 49,075 59,018 58,358 60,427
Net income 1 20,910 21,647 21,251 22,842 33,084 42,065 40,618 41,938
Net margin 5.1% 4.92% 4.98% 4.87% 5.63% 6.9% 6.41% 6.43%
EPS 2 92.95 97.14 96.21 103.4 149.7 190.6 184.9 192.2
Free Cash Flow 1 11,904 23,882 41,374 -827 18,484 38,000 33,300 32,350
FCF margin 2.9% 5.43% 9.69% -0.18% 3.14% 6.23% 5.25% 4.96%
FCF Conversion (EBITDA) 28.97% 52.17% 92.66% - 26% 49.91% 44.08% 42.08%
FCF Conversion (Net income) 56.93% 110.32% 194.69% - 55.87% 90.34% 81.98% 77.14%
Dividend per Share 2 32.00 34.00 34.00 36.00 58.00 68.00 70.57 74.29
Announcement Date 14/05/19 14/05/20 14/05/21 13/05/22 15/05/23 - - -
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 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 1,99,167 2,40,696 1,90,949 2,36,112 1,17,314 2,16,500 1,10,673 1,41,783 2,52,456 1,18,957 1,49,222 2,68,179 1,48,747 1,71,233 3,19,980 1,32,173 1,53,484 2,85,657 1,49,815 1,76,047 1,38,600 1,64,700 - 1,86,700
EBITDA - - - - - - - - - - - - - - - - - - - - - - - -
EBIT 1 11,064 23,153 9,579 23,498 10,617 14,356 4,789 16,342 21,131 4,880 16,614 21,494 13,931 20,882 34,813 8,670 19,063 27,733 13,420 20,797 8,600 19,100 12,900 22,900
Operating Margin 5.56% 9.62% 5.02% 9.95% 9.05% 6.63% 4.33% 11.53% 8.37% 4.1% 11.13% 8.01% 9.37% 12.2% 10.88% 6.56% 12.42% 9.71% 8.96% 11.81% 6.2% 11.6% - 12.27%
Earnings before Tax (EBT) 1 10,617 - 9,109 22,400 10,184 13,907 4,384 15,412 19,796 3,938 15,909 19,847 13,270 15,958 29,228 8,274 23,078 31,352 13,394 20,922 - - - -
Net income 1 6,945 14,702 5,807 15,444 6,716 9,135 2,558 11,149 13,707 2,575 10,912 13,487 9,284 10,313 19,597 5,833 16,276 22,109 9,342 10,449 5,800 12,600 8,700 15,400
Net margin 3.49% 6.11% 3.04% 6.54% 5.72% 4.22% 2.31% 7.86% 5.43% 2.16% 7.31% 5.03% 6.24% 6.02% 6.12% 4.41% 10.6% 7.74% 6.24% 5.94% 4.18% 7.65% - 8.25%
EPS 2 30.95 - 26.29 69.92 30.40 41.35 11.59 50.46 - 11.66 49.38 61.04 42.00 46.70 - 26.39 73.62 100.0 42.35 63.67 - - - -
Dividend per Share 2 17.00 17.00 17.00 17.00 17.00 17.00 - 19.00 19.00 - 25.00 25.00 - 33.00 - - 29.00 29.00 - 30.00 - 35.00 - 35.00
Announcement Date 31/10/19 14/05/20 30/10/20 14/05/21 29/10/21 29/10/21 31/01/22 13/05/22 13/05/22 29/07/22 31/10/22 31/10/22 31/01/23 15/05/23 15/05/23 31/07/23 31/10/23 31/10/23 31/01/24 - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 18,209 9,783 22,235 - - - - -
Net Cash position 1 - - - 5,191 14,401 33,762 59,666 83,378
Leverage (Debt/EBITDA) 0.4431 x 0.2137 x 0.498 x - - - - -
Free Cash Flow 1 11,904 23,882 41,374 -827 18,484 38,000 33,300 32,350
ROE (net income / shareholders' equity) 13.5% 13.3% 12.4% 12% 15% 16.8% 14.8% 14.2%
ROA (Net income/ Total Assets) 9.08% 9.67% 8.82% 8.96% 12.7% 11.5% 10.9% 10.6%
Assets 1 2,30,183 2,23,932 2,41,053 2,54,847 2,59,667 3,64,723 3,73,783 3,96,891
Book Value Per Share 2 714.0 743.0 814.0 913.0 1,089 1,212 1,316 1,425
Cash Flow per Share 2 129.0 139.0 142.0 152.0 204.0 259.0 264.0 277.0
Capex 1 12,367 8,419 8,770 9,281 10,041 14,000 15,167 15,333
Capex / Sales 3.02% 1.91% 2.05% 1.98% 1.71% 2.3% 2.39% 2.35%
Announcement Date 14/05/19 14/05/20 14/05/21 13/05/22 15/05/23 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
2,586 JPY
Average target price
2,658 JPY
Spread / Average Target
+2.82%
Consensus
  1. Stock Market
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  4. Financials Sanwa Holdings Corporation