Financials DKS Co. Ltd.

Equities

4461

JP3475000000

Commodity Chemicals

Delayed Japan Exchange Other stock markets 02:00:00 2024-05-15 EDT			5-day change	1st Jan Change
3,735 ^JPY	+5.51%		+12.67%	+90.46%

2023	DKS Co. Ltd. Announces Dividend for the Second Quarter Ended September 30, 2023, Payable on December 6, 2023; Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024	CI
2023	DKS Co. Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	35,360	38,136	37,444	28,098	18,017	35,744	-	-
Enterprise Value (EV) ¹	52,065	58,510	57,954	46,745	41,358	35,122	35,744	35,744
P/E ratio	13.7 x	18.9 x	14.6 x	11.3 x	-45 x	29.9 x	15.5 x	12.3 x
Yield	2.01%	1.87%	1.9%	2.9%	4.24%	1.77%	1.61%	1.87%
Capitalization / Revenue	0.59 x	0.62 x	0.63 x	0.45 x	0.28 x	0.56 x	0.52 x	0.49 x
EV / Revenue	0.59 x	0.62 x	0.63 x	0.45 x	0.28 x	0.56 x	0.52 x	0.49 x
EV / EBITDA	5,127,613 x	-	-	-	3,838,336 x	-	-	-
EV / FCF	-14.4 x	-16.1 x	111 x	9.83 x	-8.35 x	10.2 x	18.7 x	47.2 x
FCF Yield	-6.95%	-6.22%	0.9%	10.2%	-12%	9.8%	5.36%	2.12%
Price to Book	1.13 x	1.2 x	1.08 x	0.76 x	0.52 x	0.96 x	0.98 x	0.93 x
Nbr of stocks (in thousands)	10,161	10,170	10,175	10,184	9,558	9,570	-	-
Reference price ²	3,480	3,750	3,680	2,759	1,885	3,735	3,735	3,735
Announcement Date	19-04-25	20-05-13	21-05-13	22-05-16	23-05-15	24-05-14	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	59,574	61,456	59,140	62,672	65,081	63,118	68,500	73,000
EBITDA	6,896	-	-	-	4,694	-	-	-
EBIT ¹	4,341	4,154	4,485	4,626	1,186	2,077	4,500	5,500
Operating Margin	7.29%	6.76%	7.58%	7.38%	1.82%	3.29%	6.57%	7.53%
Earnings before Tax (EBT) ¹	3,979	3,364	3,759	4,179	224	2,343	4,300	5,300
Net income ¹	2,581	2,014	2,563	2,492	-407	1,174	2,300	2,900
Net margin	4.33%	3.28%	4.33%	3.98%	-0.63%	1.86%	3.36%	3.97%
EPS ²	254.1	198.2	252.0	244.8	-41.87	122.8	240.3	303.0
Free Cash Flow ¹	-2,458	-2,372	338	2,859	-2,159	3,503	1,915	757
FCF margin	-4.13%	-3.86%	0.57%	4.56%	-3.32%	5.6%	2.8%	1.04%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	13.19%	114.73%	-	389.22%	83.26%	26.1%
Dividend per Share ²	70.00	70.00	70.00	80.00	80.00	65.00	60.00	70.00
Announcement Date	19-04-25	20-05-13	21-05-13	22-05-16	23-05-15	24-05-14	-	-

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	30,399	31,057	28,012	31,128	15,974	30,387	16,310	15,975	32,285	15,441	17,324	32,765	16,333	15,983	32,316	13,884	15,316	29,200	16,434	17,484	33,918
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,590	2,564	1,777	2,708	1,353	2,447	1,278	901	2,179	291	426	717	271	198	469	-572	123	-449	978	1,548	2,526
Operating Margin	5.23%	8.26%	6.34%	8.7%	8.47%	8.05%	7.84%	5.64%	6.75%	1.88%	2.46%	2.19%	1.66%	1.24%	1.45%	-4.12%	0.8%	-1.54%	5.95%	8.85%	7.45%
Earnings before Tax (EBT)	1,503	-	1,627	-	1,184	2,057	1,174	-	-	341	-	-93	177	-	-	-577	-	-419	1,327	-	-
Net income	930	-	1,014	-	670	1,160	700	-	-	98	-494	-396	1	-12	-	-477	-	-478	777	-	-
Net margin	3.06%	-	3.62%	-	4.19%	3.82%	4.29%	-	-	0.63%	-2.85%	-1.21%	0.01%	-0.08%	-	-3.44%	-	-1.64%	4.73%	-	-
EPS	91.55	-	99.77	-	-	114.0	68.74	-	-	9.660	-	-40.00	-0.3300	-	-	-49.96	-	-50.03	81.35	-	-
Dividend per Share	35.00	-	35.00	-	-	35.00	-	-	-	-	-	40.00	-	-	-	-	-	20.00	-	-	-
Announcement Date	19-10-31	20-05-13	20-10-29	21-05-13	21-10-28	21-10-28	22-01-27	22-05-16	22-05-16	22-07-28	22-10-27	22-10-27	23-01-26	23-05-15	23-05-15	23-07-27	23-10-30	23-10-30	24-01-30	24-05-14	24-05-14

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	16,705	20,374	20,510	18,647	23,341	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.422 x	-	-	-	4.973 x	-	-	-
Free Cash Flow ¹	-2,458	-2,372	338	2,859	-2,159	3,503	1,915	757
ROE (net income / shareholders' equity)	8.4%	6.4%	7.7%	7%	-1.1%	3.3%	6.5%	7.7%
ROA (Net income/ Total Assets)	5.57%	4.47%	5.17%	4.89%	1.4%	2.29%	-	-
Assets ¹	46,329	45,047	49,540	50,976	-29,082	51,167	-	-
Book Value Per Share ²	3,083	3,115	3,405	3,610	3,593	3,840	3,792	4,035
Cash Flow per Share	506.0	466.0	573.0	582.0	297.0	459.0	-	-
Capex ¹	5,802	6,138	4,398	1,925	3,172	2,000	2,900	5,000
Capex / Sales	9.74%	9.99%	7.44%	3.07%	4.87%	3.2%	4.23%	6.85%
Announcement Date	19-04-25	20-05-13	21-05-13	22-05-16	23-05-15	24-05-14	-	-

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 DKS Co. Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,735 JPY

Average target price

4,300 JPY

Spread / Average Target

+15.13%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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