Financials Asahi Yukizai Corporation

Equities

4216

JP3117200000

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-17 EDT			5-day change	1st Jan Change
4,555 ^JPY	+1.22%		-9.26%	+20.03%

03-01	Tranche Update on Asahi Yukizai Corporation's Equity Buyback Plan announced on February 29, 2024.	CI
03-01	Asahi Yukizai Corporation's Equity Buyback announced on February 29, 2024,, has closed with 170,000 shares, representing 0.89% for ¥731.85 million.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	31,229	26,690	28,729	38,438	60,636	86,537	-	-
Enterprise Value (EV) ¹	25,971	20,427	22,135	26,897	48,933	100,311	86,537	86,537
P/E ratio	7.98 x	8.51 x	10.3 x	8.05 x	6.43 x	8.88 x	7.1 x	6.93 x
Yield	3.07%	3.58%	3.33%	2.99%	2.21%	1.89%	2.63%	3.07%
Capitalization / Revenue	0.56 x	0.47 x	0.54 x	0.59 x	0.79 x	1.15 x	0.96 x	0.93 x
EV / Revenue	0.56 x	0.47 x	0.54 x	0.59 x	0.79 x	1.15 x	0.96 x	0.93 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-46 x	7.84 x	29.5 x	6.96 x	73.1 x	24.1 x	15.4 x	13.7 x
FCF Yield	-2.17%	12.8%	3.39%	14.4%	1.37%	4.15%	6.48%	7.32%
Price to Book	0.73 x	0.61 x	0.62 x	0.75 x	1 x	1.41 x	1.08 x	0.96 x
Nbr of stocks (in thousands)	19,183	19,133	19,152	19,152	19,158	18,998	-	-
Reference price ²	1,628	1,395	1,500	2,007	3,165	4,555	4,555	4,555
Announcement Date	19-05-15	20-05-19	21-05-14	22-05-13	23-05-15	24-05-15	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	56,083	56,581	53,551	64,732	77,099	87,426	90,200	93,400
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	4,224	4,368	3,404	6,575	11,947	15,576	17,000	17,500
Operating Margin	7.53%	7.72%	6.36%	10.16%	15.5%	17.82%	18.85%	18.74%
Earnings before Tax (EBT) ¹	4,984	4,264	3,765	6,772	11,993	15,974	17,200	17,700
Net income ¹	3,902	3,138	2,789	4,773	9,425	11,382	12,300	12,600
Net margin	6.96%	5.55%	5.21%	7.37%	12.22%	13.02%	13.64%	13.49%
EPS ²	204.0	164.0	145.7	249.2	492.0	594.3	641.7	657.3
Free Cash Flow ¹	-679	3,403	974	5,520	829	4,165	5,610	6,335
FCF margin	-1.21%	6.01%	1.82%	8.53%	1.08%	4.76%	6.22%	6.78%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	108.44%	34.92%	115.65%	8.8%	36.59%	45.61%	50.28%
Dividend per Share ²	50.00	50.00	50.00	60.00	70.00	100.0	120.0	140.0
Announcement Date	19-05-15	20-05-19	21-05-14	22-05-13	23-05-15	24-05-15	-	-

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
Net sales ¹	26,449	30,132	23,870	29,681	15,765	29,432	17,805	17,495	35,300	16,764	19,174	35,938	20,441	20,720	41,161	21,037	22,807	43,844	22,252	21,330	43,582
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,742	2,626	812	2,592	1,671	2,492	2,317	1,766	4,083	2,068	3,271	5,339	3,134	3,474	6,608	4,074	4,217	8,291	4,164	3,121	7,285
Operating Margin	6.59%	8.71%	3.4%	8.73%	10.6%	8.47%	13.01%	10.09%	11.57%	12.34%	17.06%	14.86%	15.33%	16.77%	16.05%	19.37%	18.49%	18.91%	18.71%	14.63%	16.72%
Earnings before Tax (EBT)	1,672	-	774	-	-	2,605	2,309	-	-	2,422	-	5,836	2,895	-	-	4,357	-	8,542	4,157	-	-
Net income	1,295	-	616	-	-	1,797	1,576	-	-	1,536	-	3,813	1,976	-	-	2,765	-	5,471	2,704	-	-
Net margin	4.9%	-	2.58%	-	-	6.11%	8.85%	-	-	9.16%	-	10.61%	9.67%	-	-	13.14%	-	12.48%	12.15%	-	-
EPS	67.69	-	32.21	-	-	93.82	82.31	-	-	80.20	-	199.1	103.1	-	-	144.3	-	285.6	141.1	-	-
Dividend per Share	25.00	-	25.00	-	-	25.00	-	-	-	-	-	30.00	-	-	-	-	-	50.00	-	-	-
Announcement Date	19-10-31	20-05-19	20-10-30	21-05-14	21-10-29	21-10-29	22-01-31	22-05-13	22-05-13	22-07-29	22-10-31	22-10-31	23-01-31	23-05-15	23-05-15	23-07-31	23-10-31	23-10-31	24-01-31	24-05-15	24-05-15

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	5,258	6,263	6,594	11,541	11,703	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-679	3,403	974	5,520	829	4,165	5,610	6,335
ROE (net income / shareholders' equity)	9.3%	7.2%	6.2%	9.7%	16.8%	17.3%	16.2%	14.6%
ROA (Net income/ Total Assets)	6.99%	6.85%	5.46%	9.83%	15.1%	17.1%	-	-
Assets ¹	55,815	45,810	51,036	48,553	62,567	66,421	-	-
Book Value Per Share ²	2,235	2,292	2,437	2,682	3,164	3,735	4,225	4,763
Cash Flow per Share	302.0	270.0	254.0	358.0	603.0	708.0	-	-
Capex ¹	2,919	2,791	2,446	1,727	5,012	5,533	8,000	8,000
Capex / Sales	5.2%	4.93%	4.57%	2.67%	6.5%	6.33%	8.87%	8.57%
Announcement Date	19-05-15	20-05-19	21-05-14	22-05-13	23-05-15	24-05-15	-	-

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

Ratings for Asahi Yukizai Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4,555 JPY

Average target price

5,900 JPY

Spread / Average Target

+29.53%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Commodity Chemicals

	1st Jan change	Capi.
ASAHI YUKIZAI CORPORATION	+20.03%	557M
AIR LIQUIDE	+5.41%	106B
SABIC	-3.11%	64.74B
PT CHANDRA ASRI PACIFIC TBK	+73.33%	49.34B
WANHUA CHEMICAL GROUP CO., LTD.	+17.24%	39.15B
LYONDELLBASELL INDUSTRIES N.V.	+6.13%	32.86B
WESTLAKE CORPORATION	+12.77%	20.29B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+15.03%	17.21B
HENGLI PETROCHEMICAL CO.,LTD.	+19.06%	15.28B
RONGSHENG PETROCHEMICAL CO., LTD.	+6.28%	14.58B

Other Commodity Chemicals