TAISEI CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5,576 JPY | +3.60% |
|
+6.68% | +15.64% |
| 04-26 | Taisei Corporation announces an Equity Buyback for 2,500,000 shares, representing 1.36% for ¥10,000 million. | CI |
| 04-26 | Taisei Corporation authorizes a Buyback Plan. | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,121,148 | 698,384 | 878,970 | 713,045 | 771,360 | 1,027,617 | - | - |
| Enterprise Value (EV) 1 | 871,514 | 424,457 | 604,636 | 439,165 | 558,172 | 831,810 | 791,043 | 728,819 |
| P/E ratio | 10 x | 5.77 x | 9.65 x | 10.1 x | 17 x | 23.8 x | 16 x | 12.8 x |
| Yield | 2.53% | 3.93% | 3.04% | 3.68% | 3.17% | 2.33% | 2.33% | 2.45% |
| Capitalization / Revenue | 0.68 x | 0.4 x | 0.59 x | 0.46 x | 0.47 x | 0.6 x | 0.55 x | 0.56 x |
| EV / Revenue | 0.53 x | 0.24 x | 0.41 x | 0.28 x | 0.34 x | 0.48 x | 0.43 x | 0.4 x |
| EV / EBITDA | 5.41 x | 2.39 x | 4.29 x | 4.1 x | 8.43 x | 12.4 x | 8.3 x | 6.64 x |
| EV / FCF | -5.68 x | 3.83 x | 12.4 x | 10.3 x | 34.8 x | 55.8 x | 10.1 x | 8.13 x |
| FCF Yield | -17.6% | 26.1% | 8.07% | 9.75% | 2.87% | 1.79% | 9.94% | 12.3% |
| Price to Book | 1.56 x | 0.93 x | 1.05 x | 0.82 x | 0.93 x | 1.23 x | 1.18 x | 1.11 x |
| Nbr of stocks (in thousands) | 218,122 | 211,311 | 205,848 | 201,710 | 188,366 | 184,293 | - | - |
| Reference price 2 | 5,140 | 3,305 | 4,270 | 3,535 | 4,095 | 5,576 | 5,576 | 5,576 |
| Announcement Date | 10/05/19 | 13/05/20 | 14/05/21 | 13/05/22 | 12/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,650,877 | 1,751,330 | 1,480,141 | 1,543,240 | 1,642,712 | 1,717,836 | 1,855,500 | 1,831,850 |
| EBITDA 1 | 161,178 | 177,640 | 140,975 | 106,984 | 66,218 | 67,094 | 95,360 | 109,775 |
| EBIT 1 | 153,323 | 167,755 | 130,516 | 96,077 | 54,740 | 54,521 | 81,167 | 102,133 |
| Operating Margin | 9.29% | 9.58% | 8.82% | 6.23% | 3.33% | 3.17% | 4.37% | 5.58% |
| Earnings before Tax (EBT) 1 | 160,777 | 174,785 | 135,416 | 103,503 | 68,094 | 62,260 | 97,600 | 116,380 |
| Net income 1 | 112,571 | 122,087 | 92,554 | 71,436 | 47,124 | 43,397 | 65,099 | 78,417 |
| Net margin | 6.82% | 6.97% | 6.25% | 4.63% | 2.87% | 2.53% | 3.51% | 4.28% |
| EPS 2 | 511.9 | 573.1 | 442.7 | 350.9 | 241.2 | 234.2 | 347.7 | 436.5 |
| Free Cash Flow 1 | -153,316 | 110,735 | 48,811 | 42,827 | 16,043 | 14,900 | 78,633 | 89,633 |
| FCF margin | -9.29% | 6.32% | 3.3% | 2.78% | 0.98% | 0.87% | 4.24% | 4.89% |
| FCF Conversion (EBITDA) | - | 62.34% | 34.62% | 40.03% | 24.23% | 22.21% | 82.46% | 81.65% |
| FCF Conversion (Net income) | - | 90.7% | 52.74% | 59.95% | 34.04% | 34.33% | 120.79% | 114.3% |
| Dividend per Share 2 | 130.0 | 130.0 | 130.0 | 130.0 | 130.0 | 130.0 | 130.0 | 136.7 |
| Announcement Date | 10/05/19 | 13/05/20 | 14/05/21 | 13/05/22 | 12/05/23 | - | - | - |
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 | 766,414 | 984,916 | 594,074 | 886,067 | 344,898 | 628,135 | 377,832 | 537,273 | 915,105 | 329,537 | 389,004 | 718,541 | 386,043 | 538,128 | 924,171 | 328,914 | 409,219 | 738,133 | 408,191 | 555,497 | - | 355,000 | 442,000 | - | 459,000 | 577,000 | - |
| EBITDA | - | - | - | 91,650 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 59,852 | 107,903 | 44,397 | 86,119 | 21,364 | 24,751 | 27,059 | 44,267 | 71,326 | 6,080 | 16,333 | 22,413 | 19,494 | 12,833 | 32,327 | -8,040 | 21,109 | 13,069 | 4,443 | 32,815 | - | 5,000 | 20,000 | - | 17,000 | 35,500 | - |
| Operating Margin | 7.81% | 10.96% | 7.47% | 9.72% | 6.19% | 3.94% | 7.16% | 8.24% | 7.79% | 1.85% | 4.2% | 3.12% | 5.05% | 2.38% | 3.5% | -2.44% | 5.16% | 1.77% | 1.09% | 5.91% | - | 1.41% | 4.52% | - | 3.7% | 6.15% | - |
| Earnings before Tax (EBT) 1 | 65,153 | - | 45,576 | 89,840 | 22,479 | 28,753 | 30,371 | 44,379 | 74,750 | 9,406 | 18,201 | 27,607 | 21,734 | 18,753 | 40,487 | -3,123 | 24,051 | 20,928 | 7,197 | 22,000 | - | - | - | - | - | - | - |
| Net income 1 | 44,879 | 77,208 | 30,652 | 61,902 | 15,251 | 19,593 | 20,949 | 30,894 | 51,843 | 6,387 | 12,131 | 18,518 | 14,371 | 14,235 | 28,606 | -2,278 | 17,151 | 14,873 | 4,886 | 19,081 | - | 6,599 | 16,923 | - | 15,438 | - | - |
| Net margin | 5.86% | 7.84% | 5.16% | 6.99% | 4.42% | 3.12% | 5.54% | 5.75% | 5.67% | 1.94% | 3.12% | 2.58% | 3.72% | 2.65% | 3.1% | -0.69% | 4.19% | 2.01% | 1.2% | 3.43% | - | 1.86% | 3.83% | - | 3.36% | - | - |
| EPS 2 | 209.1 | - | 145.6 | - | - | 95.58 | 102.8 | - | - | 31.91 | 61.29 | 93.20 | 73.70 | 74.34 | - | -12.10 | 91.31 | 79.21 | 26.32 | 109.3 | - | 43.78 | 73.93 | - | 74.10 | - | - |
| Dividend per Share | 65.00 | 65.00 | 65.00 | 65.00 | - | 65.00 | - | - | - | - | - | 65.00 | - | - | 65.00 | - | - | 65.00 | - | - | 65.00 | - | - | 65.00 | - | - | 65.00 |
| Announcement Date | 08/11/19 | 13/05/20 | 11/11/20 | 14/05/21 | 09/11/21 | 09/11/21 | 08/02/22 | 13/05/22 | 13/05/22 | 05/08/22 | 11/11/22 | 11/11/22 | 08/02/23 | 12/05/23 | 12/05/23 | 07/08/23 | 13/11/23 | 13/11/23 | 08/02/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 249,634 | 273,927 | 274,334 | 273,880 | 213,188 | 195,808 | 236,574 | 298,798 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -153,316 | 110,735 | 48,811 | 42,827 | 16,043 | 14,900 | 78,633 | 89,633 |
| ROE (net income / shareholders' equity) | 16.2% | 16.6% | 11.6% | 8.4% | 5.6% | 5.17% | 7.78% | 8.98% |
| ROA (Net income/ Total Assets) | 8.36% | 9.28% | 4.92% | 5.4% | 3.18% | 2.08% | 3.23% | 3.78% |
| Assets 1 | 1,346,054 | 1,315,679 | 1,880,300 | 1,323,877 | 1,482,927 | 2,091,437 | 2,018,572 | 2,077,263 |
| Book Value Per Share 2 | 3,303 | 3,550 | 4,085 | 4,336 | 4,402 | 4,540 | 4,742 | 5,022 |
| Cash Flow per Share 2 | 548.0 | 620.0 | 323.0 | 404.0 | 300.0 | 284.0 | 427.0 | 519.0 |
| Capex 1 | 46,645 | 12,991 | 13,500 | 14,000 | 16,163 | 21,000 | 20,667 | 20,667 |
| Capex / Sales | 2.83% | 0.74% | 0.91% | 0.91% | 0.98% | 1.22% | 1.11% | 1.13% |
| Announcement Date | 10/05/19 | 13/05/20 | 14/05/21 | 13/05/22 | 12/05/23 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
7
Last Close Price
5,576
JPY
Average target price
5,021
JPY
Spread / Average Target
-9.95%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.64% | 6.53B | |
| -2.29% | 67.67B | |
| +2.13% | 59.37B | |
| +21.25% | 38.3B | |
| +11.23% | 30.73B | |
| +2.06% | 26.35B | |
| +22.89% | 22.01B | |
| +15.06% | 19.47B | |
| +22.99% | 17.6B | |
| +64.33% | 16.64B |
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