V TECHNOLOGY CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,535 JPY | +1.89% |
|
+2.51% | -10.83% |
| 02-09 | V Technology Co., Ltd. Provides Dividend Guidance for the Year End of the Year Ending March 31, 2024 | CI |
| 02-05 | China bets on open-source chips as US export controls mount | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 67,832 | 30,266 | 52,699 | 31,909 | 27,133 | 24,398 | - | - |
| Enterprise Value (EV) 1 | 52,099 | 29,771 | 35,301 | 17,559 | 18,027 | 12,000 | 16,768 | 15,015 |
| P/E ratio | 6.33 x | 9.23 x | 15 x | 7.6 x | 104 x | 44 x | 15.9 x | 11.8 x |
| Yield | 2.28% | 3.83% | 2.2% | 3.64% | 3.21% | 3.16% | 2.37% | 2.76% |
| Capitalization / Revenue | 0.94 x | 0.56 x | 0.95 x | 0.62 x | 0.63 x | 0.62 x | 0.54 x | 0.52 x |
| EV / Revenue | 0.72 x | 0.55 x | 0.64 x | 0.34 x | 0.42 x | 0.31 x | 0.37 x | 0.32 x |
| EV / EBITDA | 3.07 x | 4.53 x | 4.17 x | 2.44 x | 6.85 x | 4.14 x | 3.97 x | 3.03 x |
| EV / FCF | 11.8 x | -2.55 x | 1.87 x | -120 x | -4.28 x | 4.22 x | -164 x | 5.45 x |
| FCF Yield | 8.45% | -39.2% | 53.6% | -0.83% | -23.4% | 23.7% | -0.61% | 18.3% |
| Price to Book | 2.53 x | 1.07 x | 1.69 x | 0.93 x | 0.81 x | 0.73 x | 0.71 x | 0.68 x |
| Nbr of stocks (in thousands) | 9,670 | 9,669 | 9,669 | 9,669 | 9,670 | 9,625 | - | - |
| Reference price 2 | 7,015 | 3,130 | 5,450 | 3,300 | 2,806 | 2,535 | 2,535 | 2,535 |
| Announcement Date | 13/05/19 | 12/05/20 | 12/05/21 | 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 | 72,132 | 54,322 | 55,186 | 51,418 | 43,146 | 39,250 | 45,000 | 46,625 |
| EBITDA 1 | 16,994 | 6,565 | 8,459 | 7,184 | 2,630 | 2,902 | 4,226 | 4,960 |
| EBIT 1 | 16,628 | 5,707 | 6,604 | 5,461 | 986 | 950 | 2,400 | 3,125 |
| Operating Margin | 23.05% | 10.51% | 11.97% | 10.62% | 2.29% | 2.42% | 5.33% | 6.7% |
| Earnings before Tax (EBT) 1 | 16,892 | 6,245 | 7,054 | 6,450 | 1,571 | 870 | - | 3,070 |
| Net income 1 | 10,901 | 3,277 | 3,513 | 4,198 | 260 | 555 | 1,535 | 2,064 |
| Net margin | 15.11% | 6.03% | 6.37% | 8.16% | 0.6% | 1.41% | 3.41% | 4.43% |
| EPS 2 | 1,109 | 339.0 | 363.4 | 434.2 | 26.92 | 57.55 | 159.2 | 213.9 |
| Free Cash Flow 1 | 4,404 | -11,681 | 18,922 | -146 | -4,216 | 2,846 | -102 | 2,754 |
| FCF margin | 6.11% | -21.5% | 34.29% | -0.28% | -9.77% | 7.25% | -0.23% | 5.91% |
| FCF Conversion (EBITDA) | 25.92% | - | 223.69% | - | - | 98.07% | - | 55.53% |
| FCF Conversion (Net income) | 40.4% | - | 538.63% | - | - | 512.79% | - | 133.45% |
| Dividend per Share 2 | 160.0 | 120.0 | 120.0 | 120.0 | 90.00 | 80.00 | 60.00 | 70.00 |
| Announcement Date | 13/05/19 | 12/05/20 | 12/05/21 | 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 | 35,046 | 19,276 | 28,220 | 26,966 | 14,033 | 27,127 | 9,690 | 14,601 | 24,291 | 7,795 | 11,494 | 19,289 | 10,603 | 13,254 | 23,857 | 5,749 | 6,585 | 12,334 | 6,769 | 16,254 | 25,916 | 8,633 | 10,600 | 13,800 | 11,600 | 14,100 | 29,200 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 6,262 | -555 | 2,941 | 3,663 | 1,230 | 2,542 | 772 | 2,147 | 2,919 | 452 | 133 | 585 | -466 | 867 | 401 | -641 | -239 | -880 | -1,197 | 2,019 | 1,680 | 350 | 550 | 150 | 475 | 1,100 | 2,650 |
| Operating Margin | 17.87% | -2.88% | 10.42% | 13.58% | 8.77% | 9.37% | 7.97% | 14.7% | 12.02% | 5.8% | 1.16% | 3.03% | -4.39% | 6.54% | 1.68% | -11.15% | -3.63% | -7.13% | -17.68% | 12.42% | 6.48% | 4.05% | 5.19% | 1.09% | 4.09% | 7.8% | 9.08% |
| Earnings before Tax (EBT) | 6,312 | -67 | 3,147 | 3,907 | 1,213 | 2,948 | 1,286 | 2,216 | - | 1,099 | 917 | 2,016 | -621 | - | - | -400 | - | -570 | -1,269 | - | - | - | - | - | - | - | - |
| Net income 1 | 3,886 | -609 | 1,477 | 2,036 | 748 | 1,893 | 1,027 | 1,278 | 2,305 | 719 | 611 | 1,330 | -684 | -386 | -1,070 | -406 | -241 | -647 | -740 | 1,316 | 1,197 | 149 | 387 | 120 | 300 | 580 | 1,460 |
| Net margin | 11.09% | -3.16% | 5.23% | 7.55% | 5.33% | 6.98% | 10.6% | 8.75% | 9.49% | 9.22% | 5.32% | 6.9% | -6.45% | -2.91% | -4.49% | -7.06% | -3.66% | -5.25% | -10.93% | 8.1% | 4.62% | 1.73% | 3.65% | 0.87% | 2.59% | 4.11% | 5% |
| EPS 2 | 401.9 | -62.95 | 152.8 | 210.6 | 77.37 | 195.9 | 106.2 | 132.2 | 238.4 | 74.42 | 63.16 | 137.6 | -70.71 | -39.95 | -110.7 | -42.04 | -24.91 | -66.95 | -76.60 | 173.5 | 122.5 | -7.900 | 7.600 | 12.50 | 10.40 | 141.3 | 151.7 |
| Dividend per Share 2 | 80.00 | 40.00 | 60.00 | 60.00 | 60.00 | 60.00 | - | 60.00 | 60.00 | - | 60.00 | 60.00 | - | 30.00 | 30.00 | - | 30.00 | 30.00 | - | 30.00 | 30.00 | - | 30.00 | 30.00 | - | 30.00 | 30.00 |
| Announcement Date | 11/11/19 | 12/05/20 | 10/11/20 | 12/05/21 | 08/11/21 | 08/11/21 | 10/02/22 | 13/05/22 | 13/05/22 | 10/08/22 | 10/11/22 | 10/11/22 | 10/02/23 | 12/05/23 | 12/05/23 | 10/08/23 | 10/11/23 | 10/11/23 | 09/02/24 | - | - | - | - | - | - | - | - |
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 | 15,733 | 495 | 17,398 | 14,350 | 9,106 | 12,398 | 7,630 | 9,383 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 4,404 | -11,681 | 18,922 | -146 | -4,216 | 2,846 | -102 | 2,755 |
| ROE (net income / shareholders' equity) | 47.4% | 11.9% | 11.8% | 12.8% | 0.8% | 1.65% | 4.77% | 6.3% |
| ROA (Net income/ Total Assets) | 23.1% | 7.99% | 8.78% | 7.66% | 2.36% | 1.5% | 3.7% | 4.7% |
| Assets 1 | 47,165 | 41,022 | 40,016 | 54,797 | 11,011 | 37,000 | 41,493 | 43,915 |
| Book Value Per Share 2 | 2,776 | 2,929 | 3,234 | 3,534 | 3,475 | 3,477 | 3,588 | 3,743 |
| Cash Flow per Share 2 | 1,146 | 428.0 | 555.0 | 574.0 | 145.0 | 238.0 | 333.0 | 399.0 |
| Capex 1 | 2,127 | 1,960 | 1,460 | 2,048 | 932 | 864 | 1,115 | 1,093 |
| Capex / Sales | 2.95% | 3.61% | 2.65% | 3.98% | 2.16% | 2.2% | 2.48% | 2.34% |
| Announcement Date | 13/05/19 | 12/05/20 | 12/05/21 | 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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
2,535
JPY
Average target price
2,860
JPY
Spread / Average Target
+12.82%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -10.83% | 155M | |
| +12.06% | 107B | |
| -0.62% | 29.43B | |
| +12.05% | 22.21B | |
| -16.05% | 17.75B | |
| -6.34% | 17.25B | |
| +8.74% | 15.28B | |
| -4.89% | 12.2B | |
| -2.85% | 10.42B | |
| -8.86% | 9.04B |
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