Financials Terumo Corporation

Equities

4543

JP3546800008

Medical Equipment, Supplies & Distribution

Delayed Japan Exchange 11:30:00 30/04/2024 am IST 5-day change 1st Jan Change
2,694 JPY +3.18% Intraday chart for Terumo Corporation +2.81% +16.55%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 25,05,187 27,96,910 30,21,411 28,16,528 26,61,180 38,75,974 - -
Enterprise Value (EV) 1 26,07,340 28,76,206 30,81,210 28,37,273 27,05,795 38,99,305 38,20,320 37,34,945
P/E ratio 31.1 x 32.6 x 39.1 x 31.7 x 30 x 36 x 31 x 27.2 x
Yield 0.8% 0.75% 0.73% 0.91% 1.12% 0.83% 0.91% 1.01%
Capitalization / Revenue 4.18 x 4.45 x 4.92 x 4 x 3.24 x 4.28 x 3.99 x 3.73 x
EV / Revenue 4.35 x 4.57 x 5.02 x 4.03 x 3.3 x 4.31 x 3.93 x 3.6 x
EV / EBITDA 17.3 x 17.6 x 20.2 x 16.2 x 14.4 x 18.3 x 16.2 x 14.3 x
EV / FCF 79.7 x 103 x 69.6 x 45 x 46.3 x 64 x 43.2 x 36.1 x
FCF Yield 1.26% 0.97% 1.44% 2.22% 2.16% 1.56% 2.32% 2.77%
Price to Book 3.6 x 3.71 x 3.53 x 2.78 x 2.4 x 3.34 x 3.11 x 2.89 x
Nbr of stocks (in thousands) 14,82,359 15,03,715 15,11,083 15,12,636 14,89,189 14,84,763 - -
Reference price 2 1,690 1,860 2,000 1,862 1,787 2,610 2,610 2,610
Announcement Date 09/05/19 18/05/20 12/05/21 12/05/22 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 5,99,481 6,28,897 6,13,842 7,03,303 8,20,209 9,05,114 9,71,303 10,38,752
EBITDA 1 1,50,672 1,62,969 1,52,318 1,74,842 1,87,570 2,12,949 2,36,522 2,60,540
EBIT 1 1,06,637 1,10,611 98,386 1,15,960 1,17,332 1,41,921 1,63,889 1,86,976
Operating Margin 17.79% 17.59% 16.03% 16.49% 14.31% 15.68% 16.87% 18%
Earnings before Tax (EBT) 1 1,02,709 1,06,466 97,060 1,14,501 1,16,137 1,41,559 1,63,458 1,86,574
Net income 1 79,470 85,211 77,268 88,813 89,325 1,08,274 1,25,215 1,42,623
Net margin 13.26% 13.55% 12.59% 12.63% 10.89% 11.96% 12.89% 13.73%
EPS 2 54.35 56.98 51.16 58.72 59.50 72.58 84.11 95.88
Free Cash Flow 1 32,726 27,969 44,277 63,013 58,415 60,893 88,456 1,03,466
FCF margin 5.46% 4.45% 7.21% 8.96% 7.12% 6.73% 9.11% 9.96%
FCF Conversion (EBITDA) 21.72% 17.16% 29.07% 36.04% 31.14% 28.6% 37.4% 39.71%
FCF Conversion (Net income) 41.18% 32.82% 57.3% 70.95% 65.4% 56.24% 70.64% 72.54%
Dividend per Share 2 13.50 14.00 14.50 17.00 20.00 21.71 23.85 26.33
Announcement Date 09/05/19 18/05/20 12/05/21 12/05/22 15/05/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 3,07,278 2,83,296 1,72,921 3,44,637 1,78,845 1,79,821 1,97,340 2,05,976 4,03,316 2,14,677 2,02,216 2,15,252 2,28,622 4,43,874 2,39,077 2,25,911 2,34,057 2,42,357 2,51,313 2,40,453
EBITDA 1 - - - - - - - - - - - - - - - 55,047 - - - -
EBIT 1 59,150 41,824 29,624 65,857 28,598 21,505 30,427 25,550 55,977 37,537 23,121 29,644 36,848 66,492 39,027 36,190 38,133 41,233 42,500 39,833
Operating Margin 19.25% 14.76% 17.13% 19.11% 15.99% 11.96% 15.42% 12.4% 13.88% 17.49% 11.43% 13.77% 16.12% 14.98% 16.32% 16.02% 16.29% 17.01% 16.91% 16.57%
Earnings before Tax (EBT) 1 58,065 40,659 29,262 65,282 27,762 21,457 29,667 24,957 54,624 37,476 24,037 29,804 36,624 66,428 39,315 34,726 36,800 41,350 40,800 38,700
Net income 1 45,711 31,842 22,093 49,988 21,708 17,117 22,398 17,923 40,321 29,859 19,145 22,549 27,543 50,092 29,805 27,205 28,967 31,333 32,300 30,407
Net margin 14.88% 11.24% 12.78% 14.5% 12.14% 9.52% 11.35% 8.7% 10% 13.91% 9.47% 10.48% 12.05% 11.29% 12.47% 12.04% 12.38% 12.93% 12.85% 12.65%
EPS 2 30.72 21.10 14.60 33.06 14.36 11.32 14.80 11.88 26.68 19.94 12.88 15.14 18.50 33.64 20.03 17.02 - - - -
Dividend per Share 2 7.000 7.000 8.000 8.000 - 9.000 - - 9.500 - - - 11.00 11.00 - 11.00 - 12.50 - 12.50
Announcement Date 07/11/19 05/11/20 04/11/21 04/11/21 09/02/22 12/05/22 09/08/22 10/11/22 10/11/22 09/02/23 15/05/23 09/08/23 14/11/23 14/11/23 07/02/24 - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,02,153 79,296 59,799 20,745 44,615 23,331 - -
Net Cash position 1 - - - - - - 55,654 1,41,029
Leverage (Debt/EBITDA) 0.678 x 0.4866 x 0.3926 x 0.1186 x 0.2379 x 0.1096 x - -
Free Cash Flow 1 32,726 27,969 44,277 63,013 58,415 60,893 88,456 1,03,466
ROE (net income / shareholders' equity) 12.7% 11.7% 9.6% 9.5% 8.4% 9.2% 9.72% 10.3%
ROA (Net income/ Total Assets) 9.34% 9.01% 7.49% 8.11% 7.55% 7.74% 7.81% 8.36%
Assets 1 8,51,025 9,45,282 10,31,943 10,95,564 11,82,898 13,99,381 16,02,629 17,05,097
Book Value Per Share 2 470.0 502.0 567.0 669.0 746.0 782.0 838.0 904.0
Cash Flow per Share 2 84.50 92.00 86.90 97.70 106.0 83.60 132.0 144.0
Capex 1 60,845 89,510 77,208 69,230 75,774 81,061 83,403 85,026
Capex / Sales 10.15% 14.23% 12.58% 9.84% 9.24% 8.96% 8.59% 8.19%
Announcement Date 09/05/19 18/05/20 12/05/21 12/05/22 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
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
2,610 JPY
Average target price
2,951 JPY
Spread / Average Target
+13.04%
Consensus
  1. Stock Market
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  4. Financials Terumo Corporation