Financials Sakai Moving Service Co.,Ltd.

Equities

9039

JP3314200001

Ground Freight & Logistics

Market Closed - Japan Exchange Other stock markets 07:00:00 02/05/2024 BST			5-day change	1st Jan Change
2,793 ^JPY	-0.36%		+0.72%	+2.68%

02-27	Sakai Moving Service's Nine-Month Attributable Profit Up Nearly 7% on Higher Moving Services Sales	MT
02-26	Sakai Moving Service Co.,Ltd. Provides Fiscal Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2024	CI

Valuation

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	144,154	117,857	101,730	85,995	94,127	113,563	-	-
Enterprise Value (EV) ¹	132,593	106,287	82,790	67,408	71,927	113,563	113,563	113,563
P/E ratio	20 x	13.2 x	13.2 x	12.9 x	11.5 x	12.4 x	11 x	10.4 x
Yield	0.78%	1.05%	1.61%	2.13%	2.05%	1.9%	2.01%	2.24%
Capitalization / Revenue	1.5 x	1.17 x	1.01 x	0.83 x	0.86 x	0.99 x	0.94 x	0.91 x
EV / Revenue	1.5 x	1.17 x	1.01 x	0.83 x	0.86 x	0.99 x	0.94 x	0.91 x
EV / EBITDA	11.5 x	-	8.1 x	7.12 x	7.15 x	7.95 x	7.4 x	6.97 x
EV / FCF	23.4 x	68.9 x	10.1 x	18.1 x	16.9 x	18.3 x	15.6 x	15 x
FCF Yield	4.28%	1.45%	9.89%	5.52%	5.9%	5.46%	6.4%	6.68%
Price to Book	2.5 x	1.8 x	1.41 x	1.13 x	1.14 x	1.27 x	1.16 x	1.07 x
Nbr of stocks (in thousands)	41,070	41,065	41,061	40,660	40,660	40,660	-	-
Reference price ²	3,510	2,870	2,478	2,115	2,315	2,793	2,793	2,793
Announcement Date	07/05/19	07/05/20	07/05/21	06/05/22	08/05/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	96,197	100,859	100,333	103,884	109,556	115,023	120,393	124,987
EBITDA ¹	12,519	-	12,558	12,076	13,163	14,290	15,340	16,290
EBIT ¹	11,059	11,184	11,132	10,790	11,845	13,105	14,617	15,490
Operating Margin	11.5%	11.09%	11.1%	10.39%	10.81%	11.39%	12.14%	12.39%
Earnings before Tax (EBT) ¹	10,929	13,107	11,749	10,776	12,092	13,465	15,240	16,100
Net income ¹	7,311	8,951	7,697	6,711	8,210	9,172	10,283	10,883
Net margin	7.6%	8.87%	7.67%	6.46%	7.49%	7.97%	8.54%	8.71%
EPS ²	175.5	218.0	187.5	163.9	201.9	225.6	252.9	267.7
Free Cash Flow ¹	6,164	1,711	10,063	4,743	5,555	6,204	7,268	7,586
FCF margin	6.41%	1.7%	10.03%	4.57%	5.07%	5.39%	6.04%	6.07%
FCF Conversion (EBITDA)	49.24%	-	80.13%	39.28%	42.2%	43.41%	47.38%	46.57%
FCF Conversion (Net income)	84.31%	19.12%	130.74%	70.68%	67.66%	67.64%	70.67%	69.7%
Dividend per Share ²	27.50	30.00	40.00	45.00	47.50	53.00	56.25	62.50
Announcement Date	07/05/19	07/05/20	07/05/21	06/05/22	08/05/23	-	-	-

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	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2
Net sales ¹	49,701	51,158	48,137	52,196	22,656	50,492	22,736	30,656	53,392	30,254	24,174	54,428	23,923	31,205	55,128	31,784	25,286	57,070	24,922	33,189	58,230	33,000	25,700	58,700	26,200	34,700	60,900
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	6,857	4,327	5,891	5,241	1,261	4,859	1,464	4,467	5,931	4,893	1,412	6,305	1,637	3,903	5,540	5,631	1,457	7,088	1,763	4,149	5,912	6,010	1,480	7,490	1,950	4,560	6,510
Operating Margin	13.8%	8.46%	12.24%	10.04%	5.57%	9.62%	6.44%	14.57%	11.11%	16.17%	5.84%	11.58%	6.84%	12.51%	10.05%	17.72%	5.76%	12.42%	7.07%	12.5%	10.15%	18.21%	5.76%	12.76%	7.44%	13.14%	10.69%
Earnings before Tax (EBT) ¹	6,927	-	6,097	5,652	1,536	5,186	1,552	4,038	5,590	4,960	1,472	6,432	1,706	3,954	5,660	5,706	1,504	7,210	1,799	4,272	6,067	6,110	1,510	7,620	1,980	4,650	6,630
Net income	4,542	-	4,070	-	-	3,231	972	-	-	3,533	-	4,480	1,090	-	-	3,848	-	4,806	1,136	-	-	-	-	-	-	-	-
Net margin	9.14%	-	8.46%	-	-	6.4%	4.28%	-	-	11.68%	-	8.23%	4.56%	-	-	12.11%	-	8.42%	4.56%	-	-	-	-	-	-	-	-
EPS	110.6	-	99.12	-	-	78.70	23.76	-	-	86.91	-	110.2	26.82	-	-	94.66	-	118.2	27.95	-	-	-	-	-	-	-	-
Dividend per Share	7.500	-	7.500	-	-	15.00	-	-	-	-	-	15.00	-	-	-	-	-	15.00	-	-	-	-	-	-	-	-	-
Announcement Date	25/10/19	07/05/20	29/10/20	07/05/21	29/10/21	29/10/21	31/01/22	06/05/22	06/05/22	29/07/22	31/10/22	31/10/22	31/01/23	08/05/23	08/05/23	31/07/23	31/10/23	31/10/23	31/01/24	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	11,561	11,570	18,940	18,587	22,200	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	6,164	1,711	10,063	4,743	5,555	6,204	7,268	7,586
ROE (net income / shareholders' equity)	13.1%	14.5%	11.2%	9.1%	10.4%	10.5%	11.2%	10.8%
ROA (Net income/ Total Assets)	13.8%	12.9%	7.99%	6.61%	11.3%	8%	8.7%	8.55%
Assets ¹	53,021	69,320	96,367	101,516	72,441	114,650	118,199	127,290
Book Value Per Share ²	1,405	1,597	1,757	1,868	2,026	2,206	2,406	2,616
Cash Flow per Share	211.0	252.0	220.0	195.0	234.0	-	-	-
Capex ¹	2,701	9,410	3,418	4,418	3,548	5,000	4,750	5,000
Capex / Sales	2.81%	9.33%	3.41%	4.25%	3.24%	4.35%	3.95%	4%
Announcement Date	07/05/19	07/05/20	07/05/21	06/05/22	08/05/23	-	-	-

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

Ratings for Sakai Moving Service Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2,793 JPY

Average target price

3,087 JPY

Spread / Average Target

+10.51%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Freight Trucking

	1st Jan change	Capi.
SAKAI MOVING SERVICE CO.,LTD.	+2.68%	743M
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JB HUNT TRANSPORT SERVICES	-17.11%	17.09B
SAIA, INC.	-8.70%	10.61B
LANDSTAR SYSTEM, INC.	-6.98%	6.44B
RXO, INC.	-12.25%	2.4B
WERNER ENTERPRISES, INC.	-14.30%	2.3B
STEF	+8.93%	1.67B
MARTEN TRANSPORT, LTD.	-16.87%	1.42B
NIKKON HOLDINGS CO.,LTD.	-2.34%	1.24B

Freight Trucking