Financials Subaru Corporation

Equities

7270

JP3814800003

Auto & Truck Manufacturers

Market Closed - Japan Exchange Other stock markets 07:30:00 18/06/2025 BST			5-day change	1st Jan Change
2,588.00 ^JPY	+3.11%		+1.39%	-8.26%

08:37am	Japan's exports post first drop in 8 months as US tariffs hit auto firms	RE
06-05	Subaru Expands Renewable Energy Use with New Solar Power Agreement	MT

Projected Income Statement: Subaru Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,344,109	2,830,210	2,744,520	3,774,468	4,702,947	4,685,763	4,521,922	4,844,245
Change	-	-15.37%	-3.03%	37.53%	24.6%	-0.37%	-3.5%	7.13%
EBITDA ¹	403,061	308,785	314,507	507,289	685,978	637,849	253,419	404,334
Change	-	-23.39%	1.85%	61.3%	35.22%	-7.02%	-60.27%	59.55%
EBIT ¹	210,319	102,468	90,452	267,483	468,198	405,308	274,659	320,634
Change	-	-51.28%	-11.73%	195.72%	75.04%	-13.43%	-32.23%	16.74%
Interest Paid	-18,507	-9,517	-3,200	-25,913	-16,030	-46,770	-	-
Earnings before Tax (EBT) ¹	207,656	113,954	106,972	278,366	532,574	448,507	319,933	360,419
Change	-	-45.12%	-6.13%	160.22%	91.32%	-15.79%	-28.67%	12.65%
Net income ¹	152,587	76,510	70,007	200,431	385,084	338,062	216,498	250,516
Change	-	-49.86%	-8.5%	186.3%	92.13%	-12.21%	-35.96%	15.71%
Announcement Date	18/05/20	11/05/21	12/05/22	11/05/23	13/05/24	14/05/25	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2
Net sales ¹	878,891	859,545	456,998	761,394	856,437	755,381	635,171	706,484	665,859	737,006	834,101	916,795	1,057,088	966,484	1,082,140	1,131,315	1,282,943	1,206,549	1,092,134	1,174,024	1,270,100	1,265,414	1,029,895	1,036,995	1,023,678	1,172,892	1,213,278	1,247,533
Change	-	-2.2%	-46.83%	66.61%	12.48%	-11.8%	-15.91%	11.23%	-5.75%	10.68%	13.17%	9.91%	15.3%	-8.57%	11.97%	4.54%	13.4%	-5.95%	-9.48%	7.5%	8.18%	-0.37%	-18.61%	0.69%	-1.28%	14.58%	3.44%	2.82%
EBITDA ¹	106,446	107,293	33,104	96,334	120,817	58,530	87,085	78,318	79,947	69,157	93,315	132,572	164,237	117,165	143,318	150,931	234,238	157,491	147,655	186,474	208,303	92,612	25,915	48,424	75,609	38,989	46,561	64,704
Change	-	0.8%	-69.15%	191%	25.41%	-51.55%	48.79%	-10.07%	2.08%	-13.5%	34.93%	42.07%	23.89%	-28.66%	22.32%	5.31%	55.2%	-32.76%	-6.25%	26.29%	11.71%	-55.54%	-72.02%	86.86%	56.14%	-48.43%	19.42%	38.97%
EBIT ¹	57,811	57,661	-15,671	46,282	67,643	4,214	29,535	24,916	22,735	13,266	36,980	73,465	103,247	53,791	84,467	101,375	182,128	100,228	91,126	130,871	147,200	67,127	21,000	25,712	54,670	99,000	57,974	56,950
Change	-	-0.26%	-127.18%	395.34%	46.15%	-93.77%	600.88%	-15.64%	-8.75%	-41.65%	178.76%	98.66%	40.54%	-47.9%	57.03%	20.02%	79.66%	-44.97%	-9.08%	43.62%	12.48%	-54.4%	-68.72%	22.44%	112.63%	81.09%	-41.44%	-1.77%
Charge d'intérêts	-1,378	-	-2,488	-	-4,300	622	-6,038	-	-861	-	-13,233	-	-25,585	-	-10,328	-	-33,219	-	-15,485	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	60,121	54,431	-10,735	46,835	69,586	8,268	34,257	26,913	30,080	15,722	38,407	81,949	94,766	63,244	115,364	111,089	189,773	116,348	108,026	112,946	205,000	81,175	116,881	93,295	97,030	74,910	184,697	119,943
Change	-	-9.46%	-119.72%	536.28%	48.58%	-88.12%	314.33%	-21.44%	11.77%	-47.73%	144.29%	113.37%	15.64%	-33.26%	82.41%	-3.71%	70.83%	-38.69%	-7.15%	4.55%	81.5%	-60.4%	43.99%	-20.18%	4%	-22.8%	146.56%	-35.06%
Net income ¹	43,414	40,888	-7,700	31,406	50,499	2,305	18,514	26,274	18,080	7,139	27,212	50,646	76,561	46,012	73,242	77,706	147,911	86,225	84,007	79,026	154,400	38,820	87,400	61,500	71,100	53,100	9,108	19,988
Change	-	-5.82%	-118.83%	507.87%	60.79%	-95.44%	703.21%	41.91%	-31.19%	-60.51%	281.17%	86.12%	51.17%	-39.9%	59.18%	6.09%	90.35%	-41.7%	-2.57%	-5.93%	95.38%	-74.86%	125.14%	-29.63%	15.61%	-25.32%	-82.85%	119.46%
Announcement Date	05/02/20	18/05/20	04/08/20	04/11/20	05/02/21	11/05/21	03/08/21	05/11/21	07/02/22	12/05/22	03/08/22	02/11/22	08/02/23	11/05/23	02/08/23	02/11/23	08/02/24	13/05/24	05/08/24	01/11/24	07/02/25	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2	2027 S1
Net sales ¹	1,218,392	1,611,818	1,341,655	1,402,865	1,750,896	2,023,572	2,213,455	2,489,492	2,266,158	2,419,605	2,431,966	2,500,335	2,600,246
Change	-	32.29%	-16.76%	4.56%	24.81%	15.57%	9.38%	12.47%	-8.97%	6.77%	0.51%	2.81%	4%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	30,611	71,857	54,451	36,001	110,445	157,038	185,842	282,356	221,997	178,411	123,006	113,280	188,781
Change	-	134.74%	-24.22%	-33.88%	206.78%	42.19%	18.34%	51.93%	-21.38%	-19.63%	-31.05%	-7.91%	66.65%
Charge d'intérêts	-5,839	-3,678	-4,152	-	-16,173	-	-18,875	-	-62,722	-	-	-	-
Earnings before Tax (EBT) ¹	36,100	77,854	61,170	45,802	120,356	158,010	226,453	306,121	220,972	227,535	216,853	174,180	304,640
Change	-	115.66%	-21.43%	-25.12%	162.77%	31.29%	43.32%	35.18%	-27.82%	2.97%	-4.69%	-19.68%	74.9%
Net income ¹	23,706	52,804	44,788	25,219	77,858	122,573	150,948	234,136	163,033	175,029	-	-	-
Change	-	122.75%	-15.18%	-43.69%	208.73%	57.43%	23.15%	55.11%	-30.37%	7.36%	-	-	-
Announcement Date	04/11/20	11/05/21	05/11/21	12/05/22	02/11/22	11/05/23	02/11/23	13/05/24	01/11/24	14/05/25	-	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Subaru Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-619,756	-573,443	-792,233	-549,029	-648,500	-541,960	-457,845	-609,593
Change	-	7.47%	-38.15%	30.7%	-18.12%	16.43%	34.48%	-33.14%
Announcement Date	18/05/20	11/05/21	12/05/22	11/05/23	13/05/24	14/05/25	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Subaru Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	131,690	124,725	101,251	134,997	188,147	170,861	200,762	207,399
Change	-	-5.29%	-18.82%	33.33%	39.37%	-9.19%	15.02%	3.31%
Free Cash Flow (FCF) ¹	184,290	164,651	94,400	368,762	579,518	321,275	239,464	216,041
Change	-	-10.66%	-42.67%	290.64%	57.15%	-44.56%	-13.13%	-9.78%
Announcement Date	18/05/20	11/05/21	12/05/22	11/05/23	13/05/24	14/05/25	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Subaru Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	12.05%	10.91%	11.46%	13.44%	14.59%	13.61%	5.6%	8.35%
EBIT Margin (%)	6.29%	3.62%	3.3%	7.09%	9.96%	8.65%	6.07%	6.62%
EBT Margin (%)	6.21%	4.03%	3.9%	7.37%	11.32%	9.57%	7.08%	7.44%
Net margin (%)	4.56%	2.7%	2.55%	5.31%	8.19%	7.21%	4.79%	5.17%
FCF margin (%)	5.51%	5.82%	3.44%	9.77%	12.32%	6.86%	5.3%	4.46%
FCF / Net Income (%)	120.78%	215.2%	134.84%	183.98%	150.49%	95.03%	110.61%	86.24%
Profitability
ROA	6.62%	3.4%	3.08%	7.44%	12.16%	9.06%	4.19%	5.74%
ROE	9%	4.4%	3.8%	10%	16.5%	12.8%	8.17%	8.41%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	3.94%	4.41%	3.69%	3.58%	4%	3.65%	4.44%	4.28%
CAPEX / EBITDA (%)	32.67%	40.39%	32.19%	26.61%	27.43%	26.79%	79.22%	51.29%
CAPEX / FCF (%)	71.46%	75.75%	107.26%	36.61%	32.47%	53.18%	83.84%	96%
Items per share
Cash flow per share ¹	450.4	368.8	383.4	574	797.2	773.1	322.6	526.8
Change	-	-18.11%	3.97%	49.7%	38.88%	-3.02%	-51.05%	63.27%
Dividend per Share ¹	100	56	56	76	106	115	117.6	124.3
Change	-	-44%	0%	35.71%	39.47%	8.49%	3.18%	5.7%
Book Value Per Share ¹	2,234	2,318	2,465	2,739	3,409	3,713	3,945	4,076
Change	-	3.78%	6.35%	11.11%	24.47%	8.91%	3.62%	3.33%
EPS ¹	199	99.77	91.28	261.3	509.2	458	294.7	343
Change	-	-49.86%	-8.51%	186.29%	94.85%	-10.05%	-36.89%	16.42%
Nbr of stocks (in thousands)	766,816	766,876	766,929	766,982	751,795	731,034	731,034	731,034
Announcement Date	18/05/20	11/05/21	12/05/22	11/05/23	13/05/24	14/05/25	-	-