Stock 6466 TVE CO., LTD.
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Financials TVE Co., Ltd.

Equities

6466

JP3558810002

Industrial Machinery & Equipment

Market Closed - Japan Exchange
Other stock markets
 07:00:00 23/05/2024 BST 		5-day change 1st Jan Change
2,468 JPY -3.59% Intraday chart for TVE Co., Ltd. +7.21% +17.80%
2023 TVE Co., Ltd. Reports Earnings Results for the Half Year Ended March 31, 2023 CI
2023 Seika Corporation completed the acquisition of additional 12.98% stake in TVE Co., Ltd. from KITZ Corporation. CI

Valuation

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Capitalization 1 2,866 2,729 4,119 4,393 4,400 4,290
Enterprise Value (EV) 1 285.1 -172.7 1,467 -404 966.7 202.6
P/E ratio 5.97 x 3.82 x 6.07 x 9.65 x -72.5 x 9.86 x
Yield 2.78% 3.35% 2.5% 2.09% 1.59% 2.18%
Capitalization / Revenue 0.35 x 0.33 x 0.47 x 0.42 x 0.52 x 0.46 x
EV / Revenue 0.04 x -0.02 x 0.17 x -0.04 x 0.11 x 0.02 x
EV / EBITDA 0.34 x -0.21 x 1.23 x -0.4 x 3.49 x 0.23 x
EV / FCF -0.22 x -0.17 x -10 x -0.19 x -1.55 x 1.11 x
FCF Yield -455% -589% -9.96% -518% -64.5% 90.3%
Price to Book 0.37 x 0.33 x 0.47 x 0.47 x 0.47 x 0.43 x
Nbr of stocks (in thousands) 2,275 2,284 2,289 2,294 2,334 2,338
Reference price 2 1,260 1,195 1,799 1,915 1,885 1,835
Announcement Date 21/12/18 24/12/19 24/12/20 24/12/21 23/12/22 22/12/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net sales 1 8,105 8,239 8,824 10,451 8,514 9,396
EBITDA 1 829 813 1,193 1,016 277 873
EBIT 1 545 521 885 696 -87 476
Operating Margin 6.72% 6.32% 10.03% 6.66% -1.02% 5.07%
Earnings before Tax (EBT) 1 579 574 948 765 17 596
Net income 1 480 714 678 455 -60 435
Net margin 5.92% 8.67% 7.68% 4.35% -0.7% 4.63%
EPS 2 211.2 313.1 296.4 198.5 -25.99 186.2
Free Cash Flow 1 -1,297 1,017 -146.1 2,095 -623.2 183
FCF margin -16% 12.34% -1.66% 20.04% -7.32% 1.95%
FCF Conversion (EBITDA) - 125.09% - 206.18% - 20.96%
FCF Conversion (Net income) - 142.44% - 460.38% - 42.07%
Dividend per Share 2 35.00 40.00 45.00 40.00 30.00 40.00
Announcement Date 21/12/18 24/12/19 24/12/20 24/12/21 23/12/22 22/12/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2020 S1 2021 S1 2022 Q1 2022 S1 2022 Q3 2023 Q1 2023 S1 2023 Q3 2024 Q1 2024 S1
Net sales 1 5,055 6,281 1,341 3,953 1,553 1,650 4,261 2,424 2,764 5,442
EBITDA - - - - - - - - - -
EBIT 1 741 923 -304 -60 -212 -197 10 275 397 737
Operating Margin 14.66% 14.7% -22.67% -1.52% -13.65% -11.94% 0.23% 11.34% 14.36% 13.54%
Earnings before Tax (EBT) 1 759 963 -278 -7 -186 -186 39 279 416 804
Net income 1 460 656 -213 -55 -146 -213 -2 220 296 538
Net margin 9.1% 10.44% -15.88% -1.39% -9.4% -12.91% -0.05% 9.08% 10.71% 9.89%
EPS 2 201.6 286.5 -93.17 -24.37 -63.15 -91.56 -1.090 93.28 126.9 230.3
Dividend per Share 20.00 20.00 - 25.00 - - 15.00 - - 20.00
Announcement Date 13/05/20 14/05/21 10/02/22 13/05/22 05/08/22 09/02/23 12/05/23 09/08/23 13/02/24 10/05/24
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: September 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 2,581 2,902 2,652 4,797 3,433 4,087
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -1,297 1,017 -146 2,095 -623 183
ROE (net income / shareholders' equity) 6.47% 8.85% 7.93% 5.01% -0.64% 4.51%
ROA (Net income/ Total Assets) 3.17% 2.9% 4.65% 3.56% -0.43% 2.2%
Assets 1 15,153 24,643 14,578 12,774 13,966 19,768
Book Value Per Share 2 3,415 3,631 3,845 4,082 3,988 4,263
Cash Flow per Share 2 1,194 1,458 788.0 1,593 1,768 2,014
Capex 1 214 150 180 460 360 574
Capex / Sales 2.64% 1.82% 2.04% 4.4% 4.23% 6.11%
Announcement Date 21/12/18 24/12/19 24/12/20 24/12/21 23/12/22 22/12/23
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly earnings - Rate of surprise

Company calendar

Sector Industrial Valve Manufacturing

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Industrial Valve Manufacturing
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