DAIDO STEEL CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,736 JPY | +0.99% |
|
+2.51% | +15.66% |
| 02-02 | Daido Steel’s Attributable Profit down 26.4% in Fiscal Nine Months | MT |
| 02-01 | Jefferies Adjusts Daido Steel's Price Target to 1,380 Yen From 1,120 Yen, Keeps at Hold | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 186,079 | 148,348 | 217,827 | 157,293 | 221,655 | 369,983 | - | - |
| Enterprise Value (EV) 1 | 319,343 | 282,671 | 349,325 | 325,624 | 397,720 | 524,783 | 512,183 | 501,083 |
| P/E ratio | 8.78 x | 13.5 x | 48.2 x | 5.85 x | 6.08 x | 11.6 x | 10.2 x | 10.8 x |
| Yield | 2.98% | 2.01% | 0.68% | 4.88% | 4.42% | 2.65% | 2.87% | 2.75% |
| Capitalization / Revenue | 0.34 x | 0.3 x | 0.53 x | 0.3 x | 0.38 x | 0.63 x | 0.62 x | 0.63 x |
| EV / Revenue | 0.59 x | 0.58 x | 0.85 x | 0.61 x | 0.69 x | 0.9 x | 0.86 x | 0.86 x |
| EV / EBITDA | 5.6 x | 5.72 x | 9.71 x | 5.11 x | 5.45 x | 7.23 x | 6.37 x | 6.49 x |
| EV / FCF | -57.1 x | 166 x | 37.5 x | -10.4 x | 156 x | 13.8 x | 15.5 x | 14.5 x |
| FCF Yield | -1.75% | 0.6% | 2.67% | -9.6% | 0.64% | 7.23% | 6.45% | 6.91% |
| Price to Book | 0.65 x | 0.54 x | 0.72 x | 0.48 x | 0.6 x | 0.94 x | 0.88 x | 0.83 x |
| Nbr of stocks (in thousands) | 213,149 | 213,143 | 213,138 | 213,134 | 213,130 | 213,124 | - | - |
| Reference price 2 | 873.0 | 696.0 | 1,022 | 738.0 | 1,040 | 1,736 | 1,736 | 1,736 |
| Announcement Date | 19-04-26 | 20-05-15 | 21-04-30 | 22-04-28 | 23-04-28 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 543,255 | 490,421 | 412,722 | 529,667 | 578,564 | 583,840 | 593,180 | 582,700 |
| EBITDA 1 | 56,986 | 49,430 | 35,982 | 63,779 | 73,040 | 72,600 | 80,375 | 77,175 |
| EBIT 1 | 33,815 | 24,768 | 10,070 | 36,982 | 46,986 | 46,980 | 53,340 | 50,260 |
| Operating Margin | 6.22% | 5.05% | 2.44% | 6.98% | 8.12% | 8.05% | 8.99% | 8.63% |
| Earnings before Tax (EBT) 1 | 33,110 | 21,170 | 10,065 | 40,746 | 49,363 | 47,600 | 54,600 | 57,000 |
| Net income 1 | 21,182 | 10,987 | 4,516 | 26,894 | 36,438 | 32,020 | 36,300 | 37,450 |
| Net margin | 3.9% | 2.24% | 1.09% | 5.08% | 6.3% | 5.48% | 6.12% | 6.43% |
| EPS 2 | 99.38 | 51.55 | 21.19 | 126.2 | 171.0 | 150.1 | 170.4 | 160.3 |
| Free Cash Flow 1 | -5,593 | 1,707 | 9,318 | -31,252 | 2,550 | 37,967 | 33,025 | 34,625 |
| FCF margin | -1.03% | 0.35% | 2.26% | -5.9% | 0.44% | 6.5% | 5.57% | 5.94% |
| FCF Conversion (EBITDA) | - | 3.45% | 25.9% | - | 3.49% | 52.3% | 41.09% | 44.87% |
| FCF Conversion (Net income) | - | 15.54% | 206.33% | - | 7% | 118.57% | 90.98% | 92.46% |
| Dividend per Share 2 | 26.00 | 14.00 | 7.000 | 36.00 | 46.00 | 46.00 | 49.80 | 47.80 |
| Announcement Date | 19-04-26 | 20-05-15 | 21-04-30 | 22-04-28 | 23-04-28 | - | - | - |
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 | 252,476 | 237,945 | 179,490 | 233,232 | 123,985 | 255,224 | 135,275 | 139,168 | 274,443 | 137,682 | 144,175 | 281,857 | 152,869 | 143,838 | 296,707 | 141,938 | 146,656 | 288,594 | 149,769 | 149,258 | 296,406 | 149,000 | 149,000 | 293,000 | 150,250 | 147,750 | 275,000 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 13,711 | 11,057 | -3,531 | 13,601 | 8,651 | 19,156 | 9,758 | 8,068 | 17,826 | 10,190 | 13,035 | 23,225 | 14,429 | 9,332 | 23,761 | 7,979 | 11,024 | 19,003 | 14,048 | 13,674 | 26,997 | 12,750 | 13,000 | 25,000 | 13,500 | 13,750 | 26,000 |
| Operating Margin | 5.43% | 4.65% | -1.97% | 5.83% | 6.98% | 7.51% | 7.21% | 5.8% | 6.5% | 7.4% | 9.04% | 8.24% | 9.44% | 6.49% | 8.01% | 5.62% | 7.52% | 6.58% | 9.38% | 9.16% | 9.11% | 8.56% | 8.72% | 8.53% | 8.99% | 9.31% | 9.45% |
| Earnings before Tax (EBT) | 17,485 | - | -2,073 | - | 8,308 | 20,132 | 13,749 | - | - | 11,339 | 12,347 | 23,686 | 14,949 | - | - | 9,691 | - | 18,403 | 13,638 | - | - | 12,000 | 14,500 | 26,500 | 12,000 | 13,000 | 25,000 |
| Net income 1 | 11,257 | - | -2,318 | - | 5,212 | 12,840 | 9,363 | 4,691 | - | 9,857 | 8,437 | 18,294 | 9,892 | 8,252 | - | 6,315 | 5,150 | 11,465 | 9,273 | 11,531 | - | 9,500 | 8,500 | - | 10,000 | 8,500 | - |
| Net margin | 4.46% | - | -1.29% | - | 4.2% | 5.03% | 6.92% | 3.37% | - | 7.16% | 5.85% | 6.49% | 6.47% | 5.74% | - | 4.45% | 3.51% | 3.97% | 6.19% | 7.73% | - | 6.38% | 5.7% | - | 6.66% | 5.75% | - |
| EPS | 52.82 | - | -10.88 | - | - | 60.24 | 43.93 | - | - | 46.25 | - | 85.84 | 46.41 | - | - | 29.63 | - | 53.80 | 43.51 | - | - | - | - | - | - | - | - |
| Dividend per Share | 11.00 | - | 2.000 | - | - | 16.00 | - | - | - | - | - | 20.00 | - | - | - | - | - | 20.00 | - | - | - | - | - | - | - | - | - |
| Announcement Date | 19-10-31 | 20-05-15 | 20-10-30 | 21-04-30 | 21-10-28 | 21-10-28 | 22-01-31 | 22-04-28 | 22-04-28 | 22-07-29 | 22-10-28 | 22-10-28 | 23-01-30 | 23-04-28 | 23-04-28 | 23-07-28 | 23-10-30 | 23-10-30 | 24-01-31 | - | - | - | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 133,264 | 134,323 | 131,498 | 168,331 | 176,065 | 154,800 | 142,200 | 131,100 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.339 x | 2.717 x | 3.655 x | 2.639 x | 2.411 x | 2.132 x | 1.769 x | 1.699 x |
| Free Cash Flow 1 | -5,593 | 1,707 | 9,318 | -31,252 | 2,550 | 37,967 | 33,025 | 34,625 |
| ROE (net income / shareholders' equity) | 7.4% | 3.9% | 1.6% | 8.5% | 10.4% | 8.33% | 8.98% | 7.85% |
| ROA (Net income/ Total Assets) | 5.3% | 3.81% | 1.96% | 5.63% | 6.41% | 4.77% | 4.75% | 4.9% |
| Assets 1 | 399,591 | 288,623 | 230,659 | 478,087 | 568,672 | 671,748 | 764,211 | 764,286 |
| Book Value Per Share 2 | 1,339 | 1,283 | 1,422 | 1,547 | 1,730 | 1,856 | 1,976 | 2,087 |
| Cash Flow per Share | 208.0 | 167.0 | 143.0 | 252.0 | 293.0 | - | - | - |
| Capex 1 | 34,413 | 40,230 | 24,448 | 21,027 | 24,284 | 29,360 | 30,000 | 30,600 |
| Capex / Sales | 6.33% | 8.2% | 5.92% | 3.97% | 4.2% | 5.03% | 5.06% | 5.25% |
| Announcement Date | 19-04-26 | 20-05-15 | 21-04-30 | 22-04-28 | 23-04-28 | - | - | - |
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
OUTPERFORM
Number of Analysts
5
Last Close Price
1,736
JPY
Average target price
1,742
JPY
Spread / Average Target
+0.35%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.66% | 2.35B | |
| +0.97% | 42.1B | |
| +20.00% | 24.83B | |
| -18.52% | 21.75B | |
| +14.33% | 21.17B | |
| -6.33% | 20.77B | |
| +6.63% | 20.15B | |
| +6.81% | 9.44B | |
| -11.09% | 8.5B | |
| -23.94% | 8.41B |
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- Financials Daido Steel Co., Ltd.
