Z HOLDINGS CORPORATION |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 378.8 JPY | +1.28% |
|
+9.01% | -24.19% |
| 27/04 | South Korea to consult Naver, after report firm faces Japan pressure to divest stake | RE |
| 11/04 | ValueCommerce to Become an Equity Method Affiliate of LY Corp After Tender Offer | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 13,77,698 | 16,57,333 | 41,81,834 | 40,19,314 | 27,94,726 | 28,41,376 | - | - |
| Enterprise Value (EV) 1 | 10,46,126 | 18,63,669 | 45,05,671 | 45,58,294 | 30,56,674 | 31,31,296 | 29,64,166 | 27,03,575 |
| P/E ratio | 18.4 x | 20.6 x | 39.3 x | 52.6 x | 15.6 x | 21.8 x | 21.9 x | 18.5 x |
| Yield | 3.27% | 2.55% | 1.01% | 1.08% | 1.49% | 1.5% | 1.58% | 1.71% |
| Capitalization / Revenue | 1.44 x | 1.57 x | 3.47 x | 2.56 x | 1.67 x | 1.56 x | 1.41 x | 1.31 x |
| EV / Revenue | 1.1 x | 1.77 x | 3.74 x | 2.91 x | 1.83 x | 1.71 x | 1.48 x | 1.25 x |
| EV / EBITDA | 5.42 x | 7.91 x | 17.1 x | 14 x | 6.6 x | 8.07 x | 6.98 x | 5.71 x |
| EV / FCF | 9.67 x | -7.17 x | 23 x | -121 x | 7.4 x | 59.9 x | 18.2 x | 13.7 x |
| FCF Yield | 10.3% | -13.9% | 4.34% | -0.82% | 13.5% | 1.67% | 5.5% | 7.31% |
| Price to Book | 1.68 x | 2.15 x | 1.56 x | 1.5 x | 0.96 x | 0.94 x | 0.91 x | 0.88 x |
| Nbr of stocks (in thousands) | 50,83,758 | 47,62,452 | 75,95,050 | 74,93,129 | 74,96,584 | 75,00,993 | - | - |
| Reference price 2 | 271.0 | 348.0 | 550.6 | 536.4 | 372.8 | 378.8 | 378.8 | 378.8 |
| Announcement Date | 25/04/19 | 30/04/20 | 28/04/21 | 28/04/22 | 28/04/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 9,54,714 | 10,52,943 | 12,05,846 | 15,67,421 | 16,72,377 | 18,26,385 | 20,08,130 | 21,68,838 |
| EBITDA 1 | 1,93,026 | 2,35,695 | 2,64,205 | 3,25,247 | 4,63,309 | 3,88,026 | 4,24,460 | 4,73,598 |
| EBIT 1 | 1,40,528 | 1,52,276 | 1,62,125 | 1,89,503 | 3,14,533 | 2,08,547 | 2,33,178 | 2,75,713 |
| Operating Margin | 14.72% | 14.46% | 13.44% | 12.09% | 18.81% | 11.42% | 11.61% | 12.71% |
| Earnings before Tax (EBT) 1 | 1,23,370 | 1,35,676 | 1,42,615 | 1,58,542 | 2,35,219 | 2,00,122 | 2,16,214 | 2,60,769 |
| Net income 1 | 78,677 | 81,675 | 70,145 | 77,316 | 1,78,868 | 1,34,744 | 1,31,522 | 1,55,593 |
| Net margin | 8.24% | 7.76% | 5.82% | 4.93% | 10.7% | 7.38% | 6.55% | 7.17% |
| EPS 2 | 14.74 | 16.88 | 14.02 | 10.20 | 23.87 | 17.36 | 17.31 | 20.44 |
| Free Cash Flow 1 | 1,08,186 | -2,59,756 | 1,95,572 | -37,585 | 4,12,837 | 52,317 | 1,62,918 | 1,97,564 |
| FCF margin | 11.33% | -24.67% | 16.22% | -2.4% | 24.69% | 2.86% | 8.11% | 9.11% |
| FCF Conversion (EBITDA) | 56.05% | - | 74.02% | - | 89.11% | 13.48% | 38.38% | 41.72% |
| FCF Conversion (Net income) | 137.51% | - | 278.81% | - | 230.81% | 38.83% | 123.87% | 126.98% |
| Dividend per Share 2 | 8.860 | 8.860 | 5.560 | 5.810 | 5.560 | 5.671 | 5.992 | 6.477 |
| Announcement Date | 25/04/19 | 30/04/20 | 28/04/21 | 28/04/22 | 28/04/23 | - | - | - |
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 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,84,100 | 5,57,223 | 3,77,610 | 7,50,962 | 4,09,174 | 4,07,285 | 3,90,565 | 3,94,344 | 7,84,909 | 4,53,687 | 4,33,781 | - | 4,30,523 | 4,41,276 | 8,71,799 | 4,75,041 | 4,76,013 | 4,64,275 | 4,74,725 | 5,11,225 | 4,93,935 |
| EBITDA 1 | - | - | 1,00,834 | - | 94,427 | 48,241 | 86,520 | 80,676 | - | 93,566 | 72,558 | - | 99,993 | 1,02,077 | - | 1,09,846 | 81,657 | 1,10,125 | 1,09,175 | 1,20,725 | 1,01,730 |
| EBIT 1 | 75,600 | 98,237 | 64,084 | 1,15,469 | 61,046 | 12,988 | 49,721 | 49,757 | 99,478 | 1,90,782 | 24,273 | - | 59,397 | 56,731 | 1,16,128 | 58,152 | 31,566 | 57,550 | 60,000 | 68,400 | 52,800 |
| Operating Margin | 15.62% | 17.63% | 16.97% | 15.38% | 14.92% | 3.19% | 12.73% | 12.62% | 12.67% | 42.05% | 5.6% | - | 13.8% | 12.86% | 13.32% | 12.24% | 6.63% | 12.4% | 12.64% | 13.38% | 10.69% |
| Earnings before Tax (EBT) 1 | 75,586 | 86,748 | 54,277 | 1,06,060 | 30,152 | 22,330 | 45,221 | 42,462 | 87,683 | 1,41,606 | 5,930 | - | 73,198 | 50,222 | 1,23,420 | 46,759 | 26,296 | 55,850 | 59,350 | 65,950 | 50,530 |
| Net income 1 | 51,100 | 45,837 | 27,609 | 54,226 | 12,595 | 10,495 | 25,232 | 15,075 | 40,307 | 1,39,844 | -1,283 | - | 37,316 | 56,420 | 93,736 | 28,712 | 20,384 | 32,325 | 33,175 | 37,925 | 34,166 |
| Net margin | 10.56% | 8.23% | 7.31% | 7.22% | 3.08% | 2.58% | 6.46% | 3.82% | 5.14% | 30.82% | -0.3% | - | 8.67% | 12.79% | 10.75% | 6.04% | 4.28% | 6.96% | 6.99% | 7.42% | 6.92% |
| EPS 2 | 10.41 | 9.620 | 3.640 | 7.140 | 1.660 | 1.400 | 3.370 | 2.010 | 5.380 | 18.66 | -0.1700 | - | 4.980 | 7.520 | 12.50 | 3.830 | 2.709 | - | - | 200.8 | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | 5.560 | 5.560 | - | - | - | - | 5.780 | - | - | - | 8.000 |
| Announcement Date | 01/11/19 | 30/10/20 | 02/11/21 | 02/11/21 | 02/02/22 | 28/04/22 | 03/08/22 | 02/11/22 | 02/11/22 | 02/02/23 | 28/04/23 | 28/04/23 | 03/08/23 | 07/11/23 | 07/11/23 | 06/02/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 2,06,336 | 3,23,837 | 5,38,980 | 2,61,948 | 2,89,920 | 1,22,790 | - |
| Net Cash position 1 | 3,31,572 | - | - | - | - | - | - | 1,37,802 |
| Leverage (Debt/EBITDA) | - | 0.8754 x | 1.226 x | 1.657 x | 0.5654 x | 0.7472 x | 0.2893 x | - |
| Free Cash Flow 1 | 1,08,186 | -2,59,756 | 1,95,572 | -37,585 | 4,12,837 | 52,317 | 1,62,918 | 1,97,564 |
| ROE (net income / shareholders' equity) | 8.6% | 10.3% | 4.1% | 2.9% | 6.4% | 4.34% | 4.31% | 4.9% |
| ROA (Net income/ Total Assets) | 4.99% | 4.26% | 2.68% | 2.3% | 3% | 1.75% | 1.71% | 1.9% |
| Assets 1 | 15,77,186 | 19,15,370 | 26,14,317 | 33,66,644 | 59,69,051 | 76,99,637 | 76,78,774 | 82,10,701 |
| Book Value Per Share 2 | 161.0 | 162.0 | 353.0 | 358.0 | 389.0 | 403.0 | 414.0 | 429.0 |
| Cash Flow per Share 2 | 24.60 | 34.10 | 34.40 | 28.10 | 43.70 | -20.70 | 50.60 | 54.40 |
| Capex 1 | 41,771 | 85,126 | 70,741 | 2,72,633 | 1,48,986 | 1,40,558 | 1,46,420 | 1,58,159 |
| Capex / Sales | 4.38% | 8.08% | 5.87% | 17.39% | 8.91% | 7.7% | 7.29% | 7.29% |
| Announcement Date | 25/04/19 | 30/04/20 | 28/04/21 | 28/04/22 | 28/04/23 | - | - | - |
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
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
378.8
JPY
Average target price
498.2
JPY
Spread / Average Target
+31.52%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -24.19% | 18.05B | |
| -15.59% | 35.25B | |
| -18.97% | 20.08B | |
| -.--% | 6.85B | |
| -6.87% | 253M | |
| +11.36% | 109M | |
| -9.29% | 68.39M |
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