Financials Sanken Electric Co., Ltd.

Equities

6707

JP3329600005

Semiconductors

Market Closed - Japan Exchange Other stock markets 07:00:00 27/06/2024 BST			5-day change	1st Jan Change
6,971 ^JPY	-1.60%		+7.02%	-10.34%

05-13	Polar Semiconductor set to gain US government grant of $120 million	RE
01-05	Japanese firms rush to resume production as earthquake disrupts local economy	RE

Valuation

Fiscal Period: März	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	50,805	125,242	125,511	254,948	161,840	168,336	-	-
Enterprise Value (EV) ¹	79,421	134,584	131,874	268,818	248,609	249,778	243,024	168,336
P/E ratio	-9.15 x	-18 x	39.2 x	26.7 x	-19.9 x	-77.8 x	22.4 x	14.3 x
Yield	1.43%	-	0.58%	0.28%	0.22%	0.32%	0.42%	0.49%
Capitalization / Revenue	0.32 x	0.8 x	0.71 x	1.13 x	0.69 x	0.82 x	0.67 x	0.61 x
EV / Revenue	0.5 x	0.86 x	0.75 x	1.19 x	1.06 x	1.21 x	0.97 x	0.61 x
EV / EBITDA	4.75 x	11.7 x	4.88 x	6.43 x	6.16 x	7.87 x	5.03 x	2.92 x
EV / FCF	16.5 x	-19.6 x	122 x	-31.7 x	-3.38 x	-216 x	168 x	5.44 x
FCF Yield	6.05%	-5.1%	0.82%	-3.15%	-29.6%	-0.46%	0.6%	18.4%
Price to Book	1.02 x	1.5 x	1.32 x	2.29 x	1.36 x	1.46 x	1.38 x	1.27 x
Nbr of stocks (in thousands)	24,158	24,131	24,137	24,143	24,148	24,148	-	-
Reference price ²	2,103	5,190	5,200	10,560	6,702	7,084	7,084	7,084
Announcement Date	15/05/20	11/05/21	12/05/22	11/05/23	10/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	160,217	156,795	175,660	225,387	235,221	206,100	251,290	277,414
EBITDA ¹	16,707	11,485	27,044	41,832	40,387	31,750	48,305	57,638
EBIT ¹	4,309	-1,198	13,720	26,156	19,539	11,600	28,280	37,288
Operating Margin	2.69%	-0.76%	7.81%	11.6%	8.31%	5.63%	11.25%	13.44%
Earnings before Tax (EBT) ¹	-1,638	-7,197	13,275	26,250	9,530	5,600	23,342	32,665
Net income ¹	-5,559	-6,952	3,204	9,533	-8,112	-2,200	7,728	12,128
Net margin	-3.47%	-4.43%	1.82%	4.23%	-3.45%	-1.07%	3.08%	4.37%
EPS ²	-229.8	-288.0	132.8	394.9	-336.0	-91.10	316.7	494.0
Free Cash Flow ¹	4,807	-6,862	1,077	-8,479	-73,583	-1,158	1,450	30,961
FCF margin	3%	-4.38%	0.61%	-3.76%	-31.28%	-0.56%	0.58%	11.16%
FCF Conversion (EBITDA)	28.77%	-	3.98%	-	-	-	3%	53.72%
FCF Conversion (Net income)	-	-	33.61%	-	-	-	18.77%	255.27%
Dividend per Share ²	30.00	-	30.00	30.00	15.00	22.50	30.00	35.00
Announcement Date	15/05/20	11/05/21	12/05/22	11/05/23	10/05/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März	2020 S2	2021 S1	2021 S2	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	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2	2026 S1	2026 S2
Net sales ¹	81,928	68,138	88,657	86,421	42,496	46,743	89,239	49,632	56,333	105,965	57,308	62,114	119,422	59,906	61,644	121,550	58,278	55,393	44,400	48,850	93,500	51,850	61,100	112,500	112,500	115,500
EBITDA	10,252	-	5,723	-	-	-	14,014	-	-	-	-	-	-	-	-	-	-	-	-	-	9,000	-	-	22,600	21,700	23,300
EBIT ¹	4,018	-630	-568	6,449	3,230	4,041	7,271	935	7,261	8,196	8,666	9,294	17,960	8,527	8,631	17,158	4,627	-2,246	-1,800	2,150	-	3,600	7,650	11,600	11,700	13,300
Operating Margin	4.9%	-0.92%	-0.64%	7.46%	7.6%	8.65%	8.15%	1.88%	12.89%	7.73%	15.12%	14.96%	15.04%	14.23%	14%	14.12%	7.94%	-4.05%	-4.05%	4.4%	-	6.94%	12.52%	10.31%	10.4%	11.52%
Earnings before Tax (EBT) ¹	607	-3,473	-3,724	7,235	2,160	3,880	6,040	1,000	7,175	8,175	8,900	9,175	18,075	7,750	8,258	16,008	2,987	-9,465	-1,700	250	-	1,700	5,350	-	-	-
Net income ¹	-1,337	-4,889	-2,063	1,958	-372	1,618	1,246	157	2,797	2,954	3,499	3,080	6,579	2,229	2,219	4,448	34	-12,594	-1,200	-1,250	-	-800	1,950	-	-	-
Net margin	-1.63%	-7.18%	-2.33%	2.27%	-0.88%	3.46%	1.4%	0.32%	4.97%	2.79%	6.11%	4.96%	5.51%	3.72%	3.6%	3.66%	0.06%	-22.74%	-2.7%	-2.56%	-	-1.54%	3.19%	-	-	-
EPS	-55.50	-202.4	-85.52	81.17	-15.45	67.07	51.62	6.540	115.9	122.4	144.9	127.6	272.5	92.35	91.92	184.3	1.370	-	-	-	-	-	-	-	-	-
Dividend per Share	15.00	-	-	15.00	-	-	15.00	-	-	15.00	-	-	15.00	-	-	15.00	-	-	-	-	-	-	-	-	-	-
Announcement Date	15/05/20	06/11/20	11/05/21	05/11/21	03/02/22	12/05/22	12/05/22	05/08/22	04/11/22	04/11/22	03/02/23	11/05/23	11/05/23	04/08/23	07/11/23	07/11/23	06/02/24	10/05/24	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: März	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	28,616	9,342	6,363	13,870	86,769	81,442	74,688	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.713 x	0.8134 x	0.2353 x	0.3316 x	2.148 x	2.565 x	1.546 x	-
Free Cash Flow ¹	4,807	-6,862	1,077	-8,479	-73,583	-1,158	1,451	30,961
ROE (net income / shareholders' equity)	-10.3%	-10.4%	3.6%	9.3%	-7%	-1.1%	6.39%	9.1%
ROA (Net income/ Total Assets)	-2.91%	-1.59%	1.34%	9.96%	-2.37%	0.5%	1.75%	3.2%
Assets ¹	191,108	436,486	239,194	95,698	342,278	-440,000	441,600	379,016
Book Value Per Share ²	2,063	3,463	3,935	4,602	4,943	4,852	5,122	5,564
Cash Flow per Share	283.0	237.0	685.0	1,044	527.0	-	-	-
Capex ¹	12,019	14,491	17,133	22,432	29,595	25,442	20,404	17,258
Capex / Sales	7.5%	9.24%	9.75%	9.95%	12.58%	12.34%	8.12%	6.22%
Announcement Date	15/05/20	11/05/21	12/05/22	11/05/23	10/05/24	-	-	-

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 Sanken Electric Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

7,084 JPY

Average target price

8,962 JPY

Spread / Average Target

+26.52%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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