Financials Tokyu Fudosan Holdings Corporation

Equities

3289

JP3569200003

Real Estate Development & Operations

Delayed Japan Exchange 02:56:53 09/05/2024 BST 5-day change 1st Jan Change
1,157 JPY +0.96% Intraday chart for Tokyu Fudosan Holdings Corporation -0.22% +28.36%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 475,900 372,456 471,068 484,820 456,777 815,584 - -
Enterprise Value (EV) 1 1,563,136 1,611,436 1,738,911 1,728,942 1,753,701 2,211,232 2,242,785 2,310,759
P/E ratio 11.6 x 9.65 x 21.7 x 13.8 x 9.45 x 12.5 x 11.6 x 10.9 x
Yield 2.34% 3.09% 2.44% 2.52% 3.7% 2.49% 2.77% 3.02%
Capitalization / Revenue 0.53 x 0.39 x 0.52 x 0.49 x 0.45 x 0.72 x 0.73 x 0.71 x
EV / Revenue 1.73 x 1.67 x 1.92 x 1.75 x 1.74 x 1.96 x 2 x 2.01 x
EV / EBITDA 14.9 x 14.4 x 18.1 x 13 x 10.9 x 13.3 x 12.9 x 12.7 x
EV / FCF -37.1 x -11.3 x -111 x 38.7 x 163 x -7.59 x 417 x 65.5 x
FCF Yield -2.69% -8.88% -0.9% 2.58% 0.61% -13.2% 0.24% 1.53%
Price to Book 0.85 x 0.64 x 0.79 x 0.77 x 0.66 x 1.11 x 1.04 x 0.98 x
Nbr of stocks (in thousands) 718,882 719,027 719,188 719,317 719,333 711,679 - -
Reference price 2 662.0 518.0 655.0 674.0 635.0 1,146 1,146 1,146
Announcement Date 10/05/19 20/05/20 11/05/21 11/05/22 10/05/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 901,884 963,198 907,735 989,049 1,005,836 1,128,330 1,121,881 1,151,301
EBITDA 1 104,772 111,657 96,320 132,536 160,159 165,712 174,207 181,553
EBIT 1 80,205 79,312 56,517 83,817 110,410 116,362 124,528 131,732
Operating Margin 8.89% 8.23% 6.23% 8.47% 10.98% 10.31% 11.1% 11.44%
Earnings before Tax (EBT) 1 61,218 63,001 41,840 55,874 70,151 100,646 106,434 113,331
Net income 1 37,459 38,611 21,668 35,133 48,227 65,541 70,555 75,149
Net margin 4.15% 4.01% 2.39% 3.55% 4.79% 5.81% 6.29% 6.53%
EPS 2 56.84 53.70 30.13 48.84 67.21 91.44 98.82 105.5
Free Cash Flow 1 -42,092 -143,019 -15,620 44,667 10,765 -291,231 5,383 35,305
FCF margin -4.67% -14.85% -1.72% 4.52% 1.07% -25.81% 0.48% 3.07%
FCF Conversion (EBITDA) - - - 33.7% 6.72% - 3.09% 19.45%
FCF Conversion (Net income) - - - 127.14% 22.32% - 7.63% 46.98%
Dividend per Share 2 15.50 16.00 16.00 17.00 23.50 28.55 31.78 34.62
Announcement Date 10/05/19 20/05/20 11/05/21 11/05/22 10/05/23 - - -
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 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 412,504 550,694 383,889 523,846 224,454 411,757 222,362 354,930 577,292 220,305 224,705 445,010 196,732 364,094 253,104 237,592 490,696 227,125 400,370 642,504 264,155 245,311 233,337 -
EBITDA 44,877 - - - - 57,323 - - - 35,749 - 70,135 - - - - - - - - - - - -
EBIT 1 31,682 47,630 16,968 39,549 22,802 33,509 19,705 30,603 50,308 24,888 20,988 45,876 16,120 48,414 34,527 23,517 58,044 17,309 40,086 59,965 26,593 25,366 22,199 -
Operating Margin 7.68% 8.65% 4.42% 7.55% 10.16% 8.14% 8.86% 8.62% 8.71% 11.3% 9.34% 10.31% 8.19% 13.3% 13.64% 9.9% 11.83% 7.62% 10.01% 9.33% 10.07% 10.34% 9.51% -
Earnings before Tax (EBT) 1 25,335 - 7,384 - 21,002 27,783 17,905 10,186 - 22,523 18,588 41,111 10,499 18,541 32,604 20,864 53,468 13,712 26,210 - - - - -
Net income 1 14,395 24,216 600 21,068 14,209 14,317 13,948 6,868 - 14,420 12,505 26,925 3,999 17,303 25,293 13,053 38,346 7,105 18,311 27,364 14,629 13,943 11,831 -
Net margin 3.49% 4.4% 0.16% 4.02% 6.33% 3.48% 6.27% 1.94% - 6.55% 5.57% 6.05% 2.03% 4.75% 9.99% 5.49% 7.81% 3.13% 4.57% 4.26% 5.54% 5.68% 5.07% -
EPS 2 20.02 - 0.8400 - 19.75 19.90 19.40 9.540 - 20.05 17.38 37.43 5.560 24.22 35.63 18.00 53.98 9.980 26.28 - 20.57 19.60 16.63 -
Dividend per Share 2 8.000 - 8.000 - 8.000 8.000 - 9.000 - - 9.000 9.000 - 14.50 - 14.00 14.00 - 14.75 14.00 - 16.00 - 17.00
Announcement Date 08/11/19 20/05/20 09/11/20 11/05/21 04/11/21 04/11/21 09/02/22 11/05/22 11/05/22 04/08/22 09/11/22 09/11/22 10/02/23 10/05/23 07/08/23 07/11/23 07/11/23 08/02/24 - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,087,236 1,238,980 1,267,843 1,244,122 1,296,924 1,395,648 1,427,201 1,495,175
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 10.38 x 11.1 x 13.16 x 9.387 x 8.098 x 8.422 x 8.193 x 8.235 x
Free Cash Flow 1 -42,092 -143,019 -15,620 44,667 10,765 -291,231 5,383 35,305
ROE (net income / shareholders' equity) 7.3% 6.7% 3.7% 5.7% 7.3% 9.32% 9.43% 9.45%
ROA (Net income/ Total Assets) 3.09% 2.76% 1.81% 2.76% 3.71% 3.64% 3.67% 3.8%
Assets 1 1,213,090 1,399,345 1,196,070 1,275,060 1,301,322 1,801,816 1,922,470 1,977,617
Book Value Per Share 2 781.0 811.0 830.0 878.0 965.0 1,031 1,099 1,170
Cash Flow per Share 2 94.10 98.70 85.50 109.0 129.0 156.0 162.0 175.0
Capex 1 86,614 136,359 105,970 48,818 83,974 270,000 120,000 120,000
Capex / Sales 9.6% 14.16% 11.67% 4.94% 8.35% 23.93% 10.7% 10.42%
Announcement Date 10/05/19 20/05/20 11/05/21 11/05/22 10/05/23 - - -
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
1,146 JPY
Average target price
1,236 JPY
Spread / Average Target
+7.85%
Consensus
  1. Stock Market
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  4. Financials Tokyu Fudosan Holdings Corporation