Financials Mabuchi Motor Co., Ltd.

Equities

6592

JP3870000001

Electrical Components & Equipment

Delayed Japan Exchange Other stock markets 04:53:19 21/05/2024 BST			5-day change	1st Jan Change
2,397 ^JPY	-0.75%		-0.31%	+2.57%

05-10	Tranche Update on Mabuchi Motor Co., Ltd.'s Equity Buyback Plan announced on February 14, 2024.	CI
05-09	Mabuchi Motor Co., Ltd.'s Equity Buyback announced on February 14, 2024, has closed with 1,135,600 shares, representing 0.89% for ¥2,999.91 million.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	275,527	296,433	245,504	241,395	299,431	306,624	-	-
Enterprise Value (EV) ¹	163,492	185,295	140,125	139,395	183,657	205,674	205,326	209,858
P/E ratio	19.4 x	33.1 x	17.5 x	16.9 x	16.6 x	19 x	17.6 x	15.9 x
Yield	3.25%	3%	3.03%	3.61%	3.21%	3.15%	3.32%	3.46%
Capitalization / Revenue	2.09 x	2.55 x	1.82 x	1.54 x	1.68 x	1.62 x	1.52 x	1.45 x
EV / Revenue	1.24 x	1.59 x	1.04 x	0.89 x	1.03 x	1.09 x	1.02 x	0.99 x
EV / EBITDA	6.26 x	8.48 x	5.89 x	6.14 x	6.47 x	6.32 x	5.73 x	5.53 x
EV / FCF	19.6 x	18.2 x	-33.1 x	-532 x	11.4 x	9.46 x	12.5 x	11.9 x
FCF Yield	5.09%	5.49%	-3.02%	-0.19%	8.78%	10.6%	8.01%	8.37%
Price to Book	1.12 x	1.24 x	0.96 x	0.86 x	0.98 x	1 x	0.97 x	0.95 x
Nbr of stocks (in thousands)	132,784	131,895	129,213	129,261	128,017	126,966	-	-
Reference price ²	2,075	2,248	1,900	1,868	2,339	2,415	2,415	2,415
Announcement Date	13/02/20	12/02/21	14/02/22	14/02/23	14/02/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	131,807	116,432	134,595	156,706	178,663	189,393	201,385	211,090
EBITDA ¹	26,125	21,839	23,774	22,714	28,376	32,544	35,864	37,961
EBIT ¹	17,544	12,900	13,800	10,824	15,544	18,832	21,726	23,990
Operating Margin	13.31%	11.08%	10.25%	6.91%	8.7%	9.94%	10.79%	11.37%
Earnings before Tax (EBT) ¹	20,179	13,901	20,102	20,764	26,028	22,405	24,156	26,343
Net income ¹	14,234	8,987	14,251	14,295	18,212	16,309	17,358	18,872
Net margin	10.8%	7.72%	10.59%	9.12%	10.19%	8.61%	8.62%	8.94%
EPS ²	107.0	67.82	108.4	110.4	141.2	126.8	137.1	151.6
Free Cash Flow ¹	8,326	10,179	-4,227	-262	16,133	21,738	16,439	17,562
FCF margin	6.32%	8.74%	-3.14%	-0.17%	9.03%	11.48%	8.16%	8.32%
FCF Conversion (EBITDA)	31.87%	46.61%	-	-	56.85%	66.8%	45.84%	46.26%
FCF Conversion (Net income)	58.49%	113.26%	-	-	88.58%	133.29%	94.7%	93.06%
Dividend per Share ²	67.50	67.50	57.50	67.50	75.00	76.11	80.10	83.50
Announcement Date	13/02/20	12/02/21	14/02/22	14/02/23	14/02/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q4	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 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	48,840	69,296	33,260	35,179	36,731	71,910	42,658	42,138	38,817	42,769	81,586	47,500	49,577	45,056	47,901	49,906	51,847	50,600	50,000
EBITDA ¹	-	-	-	-	-	9,511	-	-	-	-	10,321	-	-	-	7,700	8,900	8,500	-	-
EBIT ¹	3,509	8,648	2,682	2,704	1,133	3,837	3,591	3,396	1,819	2,333	4,152	4,655	6,737	3,892	4,631	5,158	5,240	5,450	6,000
Operating Margin	7.18%	12.48%	8.06%	7.69%	3.08%	5.34%	8.42%	8.06%	4.69%	5.45%	5.09%	9.8%	13.59%	8.64%	9.67%	10.34%	10.11%	10.77%	12%
Earnings before Tax (EBT) ¹	3,136	11,922	4,862	4,844	-	11,992	7,512	1,260	4,583	8,759	13,342	7,294	-	9,220	5,900	6,000	5,900	6,400	7,100
Net income ¹	860	8,501	3,286	3,058	5,368	8,426	5,817	52	3,448	6,674	10,122	5,242	2,848	6,733	3,885	4,235	3,207	4,700	5,200
Net margin	1.76%	12.27%	9.88%	8.69%	14.61%	11.72%	13.64%	0.12%	8.88%	15.6%	12.41%	11.04%	5.74%	14.94%	8.11%	8.49%	6.18%	9.29%	10.4%
EPS ²	6.480	64.55	25.08	23.48	41.46	64.94	44.98	0.4750	26.68	51.62	78.29	40.56	22.36	52.61	25.54	29.07	22.22	31.33	-
Dividend per Share ²	33.50	28.50	29.00	-	33.50	33.50	-	34.00	-	33.50	33.50	-	75.00	-	38.00	-	38.00	-	42.50
Announcement Date	13/08/20	12/08/21	14/02/22	28/04/22	12/08/22	12/08/22	02/11/22	14/02/23	27/04/23	10/08/23	10/08/23	02/11/23	14/02/24	26/04/24	-	-	-	-	-

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	112,035	111,138	105,379	102,000	115,774	100,950	101,298	96,766
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	8,326	10,179	-4,227	-262	16,133	21,738	16,439	17,562
ROE (net income / shareholders' equity)	5.8%	3.7%	5.7%	5.3%	6.6%	5.44%	5.62%	6.03%
ROA (Net income/ Total Assets)	7.77%	4.78%	7.14%	7.24%	8.02%	7%	6.52%	7.21%
Assets ¹	183,092	188,179	199,624	197,549	227,073	232,987	266,309	261,850
Book Value Per Share ²	1,845	1,812	1,988	2,167	2,381	2,410	2,481	2,551
Cash Flow per Share ²	171.0	135.0	184.0	202.0	250.0	222.0	260.0	297.0
Capex ¹	17,504	8,562	9,622	9,648	13,006	16,903	14,000	14,000
Capex / Sales	13.28%	7.35%	7.15%	6.16%	7.28%	8.92%	6.95%	6.63%
Announcement Date	13/02/20	12/02/21	14/02/22	14/02/23	14/02/24	-	-	-

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

Ratings for Mabuchi Motor Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

2,415 JPY

Average target price

2,718 JPY

Spread / Average Target

+12.53%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Electrical Components & Equipment

	1st Jan change	Capi.
MABUCHI MOTOR CO., LTD.	+2.57%	1.98B
SIEMENS AG	+1.88%	147B
SCHNEIDER ELECTRIC SE	+27.63%	139B
EATON CORPORATION PLC	+38.38%	132B
EMERSON ELECTRIC CO.	+16.82%	64.57B
VERTIV HOLDINGS CO	+106.79%	36.24B
WEG S.A.	+7.97%	32.53B
ROCKWELL AUTOMATION, INC.	-12.64%	30.75B
LEGRAND	+8.45%	28.73B
NIDEC CORPORATION	+29.18%	27.09B

Other Electrical Components & Equipment