THE JAPAN STEEL WORKS, LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,767 JPY | +0.32% |
|
+0.99% | +53.76% |
| 04-11 | Beijing, Washington Inflation Reports Blunt Asian Stock Markets | MT |
| 03-25 | Earnings Prospects, Profit-Taking Mute Asian Stock Markets | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 149,879 | 96,176 | 193,231 | 281,034 | 182,414 | 277,233 | - | - |
| Enterprise Value (EV) 1 | 127,070 | 72,713 | 161,829 | 233,236 | 138,547 | 238,780 | 231,936 | 228,545 |
| P/E ratio | 7.5 x | 10.3 x | 28 x | 20.1 x | 15.2 x | 20.3 x | 16.4 x | 13.4 x |
| Yield | 2.7% | 3.44% | 1.33% | 1.49% | 2.34% | 1.54% | 1.98% | 2.38% |
| Capitalization / Revenue | 0.68 x | 0.44 x | 0.98 x | 1.31 x | 0.76 x | 1.06 x | 0.94 x | 0.85 x |
| EV / Revenue | 0.58 x | 0.33 x | 0.82 x | 1.09 x | 0.58 x | 0.91 x | 0.79 x | 0.7 x |
| EV / EBITDA | 4.39 x | 2.97 x | 9.82 x | 10.7 x | 6.73 x | 9.22 x | 7.25 x | 5.57 x |
| EV / FCF | -14.4 x | 8.68 x | 76.3 x | 12.1 x | -3,552 x | 16.4 x | 29 x | 20.2 x |
| FCF Yield | -6.97% | 11.5% | 1.31% | 8.3% | -0.03% | 6.08% | 3.45% | 4.95% |
| Price to Book | 1.17 x | 0.74 x | 1.38 x | 1.88 x | 1.15 x | 1.66 x | 1.56 x | 1.44 x |
| Nbr of stocks (in thousands) | 73,506 | 73,529 | 73,556 | 73,569 | 73,584 | 73,595 | - | - |
| Reference price 2 | 2,039 | 1,308 | 2,627 | 3,820 | 2,479 | 3,767 | 3,767 | 3,767 |
| Announcement Date | 13/05/19 | 25/05/20 | 10/05/21 | 11/05/22 | 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 | 220,153 | 217,527 | 198,041 | 213,790 | 238,721 | 261,860 | 294,460 | 326,580 |
| EBITDA 1 | 28,929 | 24,442 | 16,473 | 21,808 | 20,582 | 25,900 | 32,000 | 41,050 |
| EBIT 1 | 24,290 | 18,709 | 10,226 | 15,460 | 13,846 | 17,700 | 23,300 | 28,940 |
| Operating Margin | 11.03% | 8.6% | 5.16% | 7.23% | 5.8% | 6.76% | 7.91% | 8.86% |
| Earnings before Tax (EBT) 1 | 29,317 | 14,154 | 12,960 | 19,736 | 18,518 | 19,900 | 25,050 | 31,025 |
| Net income 1 | 19,966 | 9,310 | 6,893 | 13,948 | 11,974 | 13,683 | 16,909 | 20,769 |
| Net margin | 9.07% | 4.28% | 3.48% | 6.52% | 5.02% | 5.23% | 5.74% | 6.36% |
| EPS 2 | 271.7 | 126.7 | 93.76 | 189.6 | 162.8 | 185.4 | 229.2 | 281.5 |
| Free Cash Flow 1 | -8,853 | 8,374 | 2,120 | 19,349 | -39 | 14,528 | 8,007 | 11,322 |
| FCF margin | -4.02% | 3.85% | 1.07% | 9.05% | -0.02% | 5.55% | 2.72% | 3.47% |
| FCF Conversion (EBITDA) | - | 34.26% | 12.87% | 88.72% | - | 56.09% | 25.02% | 27.58% |
| FCF Conversion (Net income) | - | 89.95% | 30.76% | 138.72% | - | 106.17% | 47.36% | 54.51% |
| Dividend per Share 2 | 55.00 | 45.00 | 35.00 | 57.00 | 58.00 | 58.00 | 74.40 | 89.80 |
| Announcement Date | 13/05/19 | 25/05/20 | 10/05/21 | 11/05/22 | 12/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 106,282 | 90,100 | 45,199 | 91,199 | 55,842 | 66,749 | 122,591 | 45,029 | 58,620 | 103,649 | 58,547 | 76,525 | 54,751 | 55,433 | 110,184 | 63,703 | 89,114 | 61,600 | 74,300 | 78,800 | 97,700 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 11,176 | 4,729 | 3,409 | 7,113 | 3,017 | 5,330 | 8,347 | 648 | 2,461 | 3,109 | 2,932 | 7,805 | 2,755 | 3,029 | 5,784 | 5,454 | 6,789 | 3,600 | 5,300 | 6,100 | 8,200 |
| Operating Margin | 10.52% | 5.25% | 7.54% | 7.8% | 5.4% | 7.99% | 6.81% | 1.44% | 4.2% | 3% | 5.01% | 10.2% | 5.03% | 5.46% | 5.25% | 8.56% | 7.62% | 5.84% | 7.13% | 7.74% | 8.39% |
| Earnings before Tax (EBT) | 7,946 | 7,689 | - | 9,605 | 3,822 | - | - | 1,273 | - | 3,662 | 2,543 | - | 3,462 | 3,434 | 6,896 | 5,662 | - | 4,000 | 5,700 | 6,500 | 8,500 |
| Net income 1 | 5,205 | 3,580 | - | 6,713 | 2,334 | 4,901 | - | 518 | 1,242 | 1,760 | 1,559 | 8,655 | 2,452 | 2,311 | 4,763 | 4,205 | 4,834 | 2,100 | 3,800 | 4,600 | 6,500 |
| Net margin | 4.9% | 3.97% | - | 7.36% | 4.18% | 7.34% | - | 1.15% | 2.12% | 1.7% | 2.66% | 11.31% | 4.48% | 4.17% | 4.32% | 6.6% | 5.43% | 3.41% | 5.11% | 5.84% | 6.65% |
| EPS | 70.82 | 48.69 | - | 91.27 | 31.73 | - | - | 7.050 | - | 23.93 | 21.20 | - | 33.33 | - | 64.73 | 57.14 | - | - | - | - | - |
| Dividend per Share | 27.50 | 17.50 | - | 22.50 | - | - | - | - | - | 29.00 | - | - | - | - | 29.00 | - | - | - | - | - | - |
| Announcement Date | 11/11/19 | 09/11/20 | 15/11/21 | 15/11/21 | 07/02/22 | 11/05/22 | 11/05/22 | 08/08/22 | 14/11/22 | 14/11/22 | 13/02/23 | 12/05/23 | 07/08/23 | 10/11/23 | 10/11/23 | 13/02/24 | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 22,809 | 23,463 | 31,402 | 47,798 | 43,867 | 38,454 | 45,297 | 48,688 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -8,853 | 8,374 | 2,120 | 19,349 | -39 | 14,528 | 8,007 | 11,322 |
| ROE (net income / shareholders' equity) | 16.3% | 7.2% | 5.1% | 9.6% | 7.8% | 8.33% | 9.6% | 11.4% |
| ROA (Net income/ Total Assets) | 9.26% | 6.61% | 3.5% | 5.11% | 4.35% | 4.17% | 5.13% | 6.27% |
| Assets 1 | 215,534 | 140,921 | 197,143 | 272,763 | 275,409 | 328,397 | 329,392 | 331,417 |
| Book Value Per Share 2 | 1,747 | 1,779 | 1,909 | 2,031 | 2,162 | 2,271 | 2,422 | 2,612 |
| Cash Flow per Share 2 | 332.0 | 205.0 | 176.0 | 274.0 | 252.0 | 486.0 | 421.0 | 373.0 |
| Capex 1 | 9,945 | 10,585 | 12,592 | 4,903 | 7,346 | 11,667 | 11,950 | 11,450 |
| Capex / Sales | 4.52% | 4.87% | 6.36% | 2.29% | 3.08% | 4.46% | 4.06% | 3.51% |
| Announcement Date | 13/05/19 | 25/05/20 | 10/05/21 | 11/05/22 | 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
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
3,767
JPY
Average target price
3,710
JPY
Spread / Average Target
-1.51%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +53.76% | 1.76B | |
| -1.42% | 14.89B | |
| +25.00% | 4.92B | |
| -14.84% | 4.68B | |
| -11.99% | 4.52B | |
| +10.91% | 4.18B | |
| -17.31% | 4.12B | |
| +13.00% | 3.73B | |
| +29.08% | 3.43B | |
| +0.73% | 3.31B |
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