FAST RETAILING CO., LTD. Financials Fast Retailing Co., Ltd. OTC Markets
Equities
FRCOY
US31188H1014
Apparel & Accessories Retailers
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 26.03 USD | -0.15% |
|
+2.04% | +5.68% |
| 07-02 | Japan's Nikkei reclaims 40,000 level on weak yen, foreign buying | RE |
| 07-02 | Financials lift Japanese shares on rate-hike speculation | RE |
Valuation
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,351,953 | 6,460,481 | 7,406,445 | 8,373,801 | 10,266,710 | 12,866,521 | - | - |
| Enterprise Value (EV) 1 | 5,765,382 | 5,687,840 | 6,633,209 | 7,867,587 | 9,129,493 | 12,028,404 | 11,780,753 | 11,525,544 |
| P/E ratio | 39.1 x | 71.5 x | 43.6 x | 30.6 x | 34.7 x | 38.9 x | 36.2 x | 32.7 x |
| Yield | 0.77% | 0.76% | 0.66% | 0.76% | 0.87% | 0.82% | 0.86% | 0.91% |
| Capitalization / Revenue | 2.77 x | 3.22 x | 3.47 x | 3.64 x | 3.71 x | 4.23 x | 3.88 x | 3.56 x |
| EV / Revenue | 2.52 x | 2.83 x | 3.11 x | 3.42 x | 3.3 x | 3.95 x | 3.55 x | 3.18 x |
| EV / EBITDA | 18.8 x | 17.4 x | 15.5 x | 16.5 x | 16.1 x | 18.3 x | 16.6 x | 15 x |
| EV / FCF | 26 x | 30.1 x | 19.2 x | 36 x | -82.1 x | 29.6 x | 27.6 x | 24.7 x |
| FCF Yield | 3.85% | 3.32% | 5.22% | 2.78% | -1.22% | 3.38% | 3.62% | 4.04% |
| Price to Book | 6.77 x | 6.75 x | 6.63 x | 5.36 x | 5.64 x | 6.3 x | 5.63 x | 5.03 x |
| Nbr of stocks (in thousands) | 306,167 | 306,281 | 306,389 | 306,545 | 306,652 | 306,711 | - | - |
| Reference price 2 | 20,747 | 21,093 | 24,173 | 27,317 | 33,480 | 41,950 | 41,950 | 41,950 |
| Announcement Date | 10/10/19 | 15/10/20 | 14/10/21 | 13/10/22 | 12/10/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,290,548 | 2,008,846 | 2,132,992 | 2,301,122 | 2,766,557 | 3,042,724 | 3,315,644 | 3,618,813 |
| EBITDA 1 | 306,112 | 327,195 | 426,921 | 477,600 | 567,962 | 657,205 | 708,261 | 768,534 |
| EBIT 1 | 257,636 | 149,347 | 249,011 | 297,325 | 381,090 | 455,219 | 505,877 | 559,522 |
| Operating Margin | 11.25% | 7.43% | 11.67% | 12.92% | 13.77% | 14.96% | 15.26% | 15.46% |
| Earnings before Tax (EBT) 1 | 252,447 | 152,868 | 265,872 | 413,584 | 437,918 | 505,494 | 539,105 | 594,819 |
| Net income 1 | 162,578 | 90,357 | 169,847 | 273,335 | 296,229 | 329,700 | 354,462 | 392,660 |
| Net margin | 7.1% | 4.5% | 7.96% | 11.88% | 10.71% | 10.84% | 10.69% | 10.85% |
| EPS 2 | 531.1 | 295.0 | 554.4 | 891.8 | 966.1 | 1,078 | 1,158 | 1,283 |
| Free Cash Flow 1 | 221,749 | 188,887 | 346,371 | 218,591 | -111,186 | 406,174 | 426,497 | 465,785 |
| FCF margin | 9.68% | 9.4% | 16.24% | 9.5% | -4.02% | 13.35% | 12.86% | 12.87% |
| FCF Conversion (EBITDA) | 72.44% | 57.73% | 81.13% | 45.77% | - | 61.8% | 60.22% | 60.61% |
| FCF Conversion (Net income) | 136.4% | 209.05% | 203.93% | 79.97% | - | 123.2% | 120.32% | 118.62% |
| Dividend per Share 2 | 160.0 | 160.0 | 160.0 | 206.7 | 290.0 | 344.9 | 359.9 | 383.1 |
| Announcement Date | 10/10/19 | 15/10/20 | 14/10/21 | 13/10/22 | 12/10/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: August | 2020 S1 | 2021 S1 | 2021 S2 | 2022 Q1 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,208,512 | 1,202,864 | 930,128 | 627,391 | 591,585 | 1,218,977 | 546,129 | 536,016 | 716,393 | 750,957 | 1,467,350 | 676,154 | 623,053 | 810,833 | 788,166 | 1,598,999 | 745,273 | 682,681 | 898,000 | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 136,736 | 167,982 | 81,029 | 119,406 | 69,871 | 189,278 | 81,806 | 26,241 | 117,077 | 103,186 | 220,263 | 110,311 | 50,516 | 146,686 | 110,399 | 257,085 | 125,675 | 68,715 | 164,500 | - | - |
| Operating Margin | 11.31% | 13.97% | 8.71% | 19.03% | 11.81% | 15.53% | 14.98% | 4.9% | 16.34% | 13.74% | 15.01% | 16.31% | 8.11% | 18.09% | 14.01% | 16.08% | 16.86% | 10.07% | 18.32% | - | - |
| Earnings before Tax (EBT) 1 | 150,859 | 171,482 | - | 134,208 | 78,357 | 212,566 | 136,689 | 64,329 | 126,812 | 103,687 | 230,499 | 128,704 | 78,715 | 162,471 | 136,924 | 299,395 | 136,123 | 65,482 | 177,000 | - | - |
| Net income 1 | 100,459 | 105,868 | - | 93,592 | 53,252 | 146,844 | 90,992 | 35,499 | 85,074 | 68,318 | 153,392 | 85,127 | 57,710 | 107,800 | 88,112 | 195,912 | 102,757 | 28,111 | 116,800 | - | - |
| Net margin | 8.31% | 8.8% | - | 14.92% | 9% | 12.05% | 16.66% | 6.62% | 11.88% | 9.1% | 10.45% | 12.59% | 9.26% | 13.29% | 11.18% | 12.25% | 13.79% | 4.12% | 13.01% | - | - |
| EPS 2 | 328.1 | 345.6 | - | 305.4 | 173.7 | 479.1 | 296.8 | 115.8 | 277.5 | 222.8 | 500.3 | 277.6 | 188.2 | 351.5 | 287.3 | 638.8 | 278.2 | 125.9 | - | - | - |
| Dividend per Share 2 | 80.00 | 80.00 | - | - | 93.33 | 93.33 | - | 113.3 | - | 125.0 | 125.0 | - | - | - | 175.0 | 175.0 | - | 190.0 | - | 165.0 | - |
| Announcement Date | 09/04/20 | 08/04/21 | 14/10/21 | 13/01/22 | 14/04/22 | 14/04/22 | 14/07/22 | 13/10/22 | 12/01/23 | 13/04/23 | 13/04/23 | 13/07/23 | 12/10/23 | 11/01/24 | 11/04/24 | 11/04/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 586,571 | 772,641 | 773,236 | 506,214 | 1,137,217 | 838,117 | 1,085,768 | 1,340,977 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 221,749 | 188,887 | 346,371 | 218,591 | -111,186 | 406,174 | 426,497 | 465,785 |
| ROE (net income / shareholders' equity) | 18% | 9.5% | 16.4% | 20.4% | 17.5% | 17.4% | 17% | 16.7% |
| ROA (Net income/ Total Assets) | 12.7% | 4.09% | 10.8% | 14.5% | 13.5% | 9.35% | 9.51% | 9.78% |
| Assets 1 | 1,276,432 | 2,211,272 | 1,572,149 | 1,885,069 | 2,194,216 | 3,526,050 | 3,725,528 | 4,016,158 |
| Book Value Per Share 2 | 3,066 | 3,123 | 3,643 | 5,094 | 5,939 | 6,657 | 7,448 | 8,334 |
| Cash Flow per Share 2 | 689.0 | 876.0 | 1,135 | 1,480 | 1,576 | 973.0 | 1,742 | 2,097 |
| Capex 1 | 65,744 | 67,508 | 76,124 | 79,606 | 95,306 | 81,613 | 85,877 | 86,784 |
| Capex / Sales | 2.87% | 3.36% | 3.57% | 3.46% | 3.44% | 2.68% | 2.59% | 2.4% |
| Announcement Date | 10/10/19 | 15/10/20 | 14/10/21 | 13/10/22 | 12/10/23 | - | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
41,380
JPY
Average target price
44,591
JPY
Spread / Average Target
+7.76%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.88% | 151B | |
| +4.05% | 48.17B | |
| -17.14% | 43.35B | |
| +20.14% | 14.87B | |
| +12.24% | 13.75B | |
| +103.75% | 9.37B | |
| +9.18% | 9.32B | |
| +14.20% | 8.63B | |
| +1.98% | 7.71B |
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- Financials Fast Retailing Co., Ltd.
