Financials Hodogaya Chemical Co., Ltd.

Equities

4112

JP3852600000

Specialty Chemicals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-06-28 EDT			5-day change	1st Jan Change
5,470 ^JPY	-0.55%		-4.04%	+47.04%

05-16	Hodogaya Chemical Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025	CI
05-16	Hodogaya Chemical Co., Ltd. Announces Fiscal Year-End Dividend for the Fiscal Year Ended March 31, 2024, Payable on June 26, 2024; Provides Second Quarter End and Fiscal Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2025	CI

Valuation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	24,342	38,238	34,799	23,852	28,969	43,412	-	-
Enterprise Value (EV) ¹	24,342	36,984	30,362	24,444	25,815	43,412	43,412	43,412
P/E ratio	13.1 x	12.3 x	10.7 x	10.7 x	11.7 x	14.5 x	11.7 x	8.86 x
Yield	1.62%	1.04%	1.37%	2.16%	2.05%	1.55%	1.83%	2.19%
Capitalization / Revenue	0.64 x	0.93 x	0.83 x	0.55 x	0.65 x	0.9 x	0.83 x	0.77 x
EV / Revenue	0.64 x	0.93 x	0.83 x	0.55 x	0.65 x	0.9 x	0.83 x	0.77 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	48.9 x	16.9 x	13.5 x	-11.7 x	11.3 x	26.8 x	15.1 x	9.58 x
FCF Yield	2.05%	5.91%	7.4%	-8.56%	8.85%	3.73%	6.64%	10.4%
Price to Book	0.72 x	0.99 x	0.84 x	0.56 x	0.61 x	0.87 x	0.82 x	0.76 x
Nbr of stocks (in thousands)	7,903	7,917	7,918	7,924	7,937	7,936	-	-
Reference price ²	3,080	4,830	4,395	3,010	3,650	5,470	5,470	5,470
Announcement Date	20-05-28	21-05-14	22-05-16	23-05-15	24-05-15	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	37,771	41,199	41,879	43,324	44,261	48,100	52,500	56,400
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	2,902	5,444	6,421	3,701	3,951	5,000	6,000	7,400
Operating Margin	7.68%	13.21%	15.33%	8.54%	8.93%	10.4%	11.43%	13.12%
Earnings before Tax (EBT) ¹	2,934	5,689	6,224	4,271	4,693	5,300	6,300	7,700
Net income ¹	1,858	3,119	3,251	2,223	2,480	3,000	3,700	4,900
Net margin	4.92%	7.57%	7.76%	5.13%	5.6%	6.24%	7.05%	8.69%
EPS ²	235.2	394.2	410.7	280.6	312.6	378.0	466.2	617.4
Free Cash Flow ¹	498	2,260	2,574	-2,042	2,563	1,620	2,883	4,532
FCF margin	1.32%	5.49%	6.15%	-4.71%	5.79%	3.37%	5.49%	8.04%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	26.8%	72.46%	79.18%	-	103.35%	54%	77.92%	92.49%
Dividend per Share ²	50.00	50.00	60.00	65.00	75.00	85.00	100.0	120.0
Announcement Date	20-05-28	21-05-14	22-05-16	23-05-15	24-05-15	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2021 S1	2021 S2	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	19,420	21,779	20,329	10,778	10,772	21,550	9,965	10,614	20,579	11,245	11,500	22,745	10,041	10,410	20,451	11,191	12,619	23,810	11,170	11,780	22,950	12,770	12,380	25,150
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,792	2,652	3,361	1,621	1,439	3,060	1,001	962	1,963	1,169	569	1,738	337	908	1,245	1,167	1,539	2,706	770	1,280	2,050	1,820	1,130	2,950
Operating Margin	14.38%	12.18%	16.53%	15.04%	13.36%	14.2%	10.05%	9.06%	9.54%	10.4%	4.95%	7.64%	3.36%	8.72%	6.09%	10.43%	12.2%	11.36%	6.89%	10.87%	8.93%	14.25%	9.13%	11.73%
Earnings before Tax (EBT)	2,896	-	3,496	1,699	-	-	1,384	-	2,540	1,106	-	-	760	-	1,768	1,194	-	-	-	-	-	-	-	-
Net income	1,252	-	1,767	1,045	-	-	664	-	1,398	336	-	-	369	-	909	654	-	-	-	-	-	-	-	-
Net margin	6.45%	-	8.69%	9.7%	-	-	6.66%	-	6.79%	2.99%	-	-	3.67%	-	4.44%	5.84%	-	-	-	-	-	-	-	-
EPS	158.4	-	223.3	131.9	-	-	83.94	-	176.6	42.48	-	-	46.63	-	114.6	82.46	-	-	-	-	-	-	-	-
Dividend per Share	25.00	-	30.00	-	-	-	-	-	32.50	-	-	-	-	-	37.50	-	-	-	-	-	-	-	-	-
Announcement Date	20-10-29	21-05-14	21-10-29	22-02-07	22-05-16	22-05-16	22-08-04	22-11-08	22-11-08	23-02-07	23-05-15	23-05-15	23-08-10	23-11-13	23-11-13	24-02-13	24-05-15	24-05-15	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	-	592	-	-	-	-
Net Cash position	-	1,254	4,437	-	3,154	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	498	2,260	2,574	-2,042	2,563	1,620	2,883	4,532
ROE (net income / shareholders' equity)	5.5%	8.6%	8.1%	5.3%	5.5%	6.1%	7.2%	8.9%
ROA (Net income/ Total Assets)	5.46%	9.94%	-	6.08%	6.15%	-	-	-
Assets ¹	34,038	31,375	-	36,557	40,326	-	-	-
Book Value Per Share ²	4,295	4,886	5,231	5,406	6,015	6,317	6,699	7,216
Cash Flow per Share	424.0	584.0	620.0	524.0	613.0	-	-	-
Capex ¹	3,099	3,120	1,956	3,100	5,780	2,000	2,000	2,000
Capex / Sales	8.2%	7.57%	4.67%	7.16%	13.06%	4.16%	3.81%	3.55%
Announcement Date	20-05-28	21-05-14	22-05-16	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 Hodogaya Chemical Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5,470 JPY

Average target price

7,000 JPY

Spread / Average Target

+27.97%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Coloring Agent

	1st Jan change	Capi.
HODOGAYA CHEMICAL CO., LTD.	+47.04%	270M
ZHEJIANG LONGSHENG GROUP CO.,LTD	+2.26%	3.73B
DIC CORPORATION	+10.08%	1.8B
ARTIENCE CO., LTD.	+27.81%	1.11B
ZHEJIANG RUNTU CO., LTD.	-10.98%	840M
SUDARSHAN CHEMICAL INDUSTRIES LIMITED	+64.26%	749M
SHANGHAI ANOKY GROUP CO., LTD	+29.90%	642M
ANSHAN HIFICHEM CO., LTD.	+6.33%	590M
HG TECHNOLOGIES CO., LTD.	-16.63%	590M
VALHI, INC.	+17.38%	504M

Coloring Agent