ITOCHU CORPORATION Financials Itochu Corporation BOERSE MUENCHEN
Equities
IOC
JP3143600009
Diversified Industrial Goods Wholesale
|
Real-time
Other stock markets
|
5-day change | 1st Jan Change | ||
| 45 EUR | +0.54% |
|
+4.09% | +19.62% |
| 06-14 | Dentsu Group Appoints Global CFO Designate | MT |
| 06-11 | Japan spot work startup Timee targets July listing, sources say | RE |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,341,952 | 5,326,410 | 6,089,921 | 6,261,808 | 9,303,534 | 11,126,520 | - | - |
| Enterprise Value (EV) 1 | 6,732,940 | 8,991,384 | 8,372,921 | 8,652,977 | 13,083,700 | 14,217,502 | 13,722,727 | 14,249,099 |
| P/E ratio | 6.68 x | 13.3 x | 7.5 x | 7.88 x | 11.7 x | 12.2 x | 11.9 x | 11.2 x |
| Yield | 3.79% | 2.45% | 2.65% | 3.26% | 2.47% | 2.59% | 2.62% | 2.77% |
| Capitalization / Revenue | 0.3 x | 0.51 x | 0.5 x | 0.45 x | 0.66 x | 0.76 x | 0.73 x | 0.72 x |
| EV / Revenue | 0.61 x | 0.87 x | 0.68 x | 0.62 x | 0.93 x | 0.97 x | 0.91 x | 0.92 x |
| EV / EBITDA | 8.19 x | 10.9 x | 8.49 x | 7.78 x | 11.6 x | 12.2 x | 11.3 x | 10.8 x |
| EV / FCF | 9.22 x | 13.1 x | 9.97 x | 17.9 x | 16.9 x | 21.6 x | 20 x | 20.6 x |
| FCF Yield | 10.8% | 7.66% | 10% | 5.6% | 5.9% | 4.63% | 4.99% | 4.84% |
| Price to Book | 1.12 x | 1.61 x | 1.45 x | 1.3 x | 1.71 x | 1.87 x | 1.71 x | 1.57 x |
| Nbr of stocks (in thousands) | 1,490,280 | 1,484,921 | 1,469,576 | 1,455,896 | 1,438,839 | 1,438,836 | - | - |
| Reference price 2 | 2,242 | 3,587 | 4,144 | 4,301 | 6,466 | 7,733 | 7,733 | 7,733 |
| Announcement Date | 5/8/20 | 5/10/21 | 5/10/22 | 5/9/23 | 5/8/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,982,968 | 10,362,628 | 12,293,348 | 13,945,633 | 14,029,910 | 14,713,813 | 15,144,151 | 15,442,541 |
| EBITDA 1 | 822,062 | 827,711 | 986,706 | 1,111,875 | 1,123,243 | 1,161,575 | 1,215,485 | 1,319,553 |
| EBIT 1 | 399,438 | 403,414 | 582,522 | 701,913 | 702,900 | 760,782 | 789,015 | 838,731 |
| Operating Margin | 3.64% | 3.89% | 4.74% | 5.03% | 5.01% | 5.17% | 5.21% | 5.43% |
| Earnings before Tax (EBT) 1 | 701,430 | 512,475 | 1,150,029 | 1,106,861 | 1,095,707 | 1,206,680 | 1,234,100 | 1,272,000 |
| Net income 1 | 501,322 | 401,433 | 820,269 | 800,519 | 801,770 | 894,657 | 913,116 | 950,500 |
| Net margin | 4.56% | 3.87% | 6.67% | 5.74% | 5.71% | 6.08% | 6.03% | 6.16% |
| EPS 2 | 335.6 | 269.8 | 552.9 | 546.1 | 553.0 | 632.4 | 649.5 | 689.1 |
| Free Cash Flow 1 | 730,445 | 688,604 | 839,800 | 484,300 | 772,100 | 657,700 | 684,783 | 690,333 |
| FCF margin | 6.65% | 6.65% | 6.83% | 3.47% | 5.5% | 4.47% | 4.52% | 4.47% |
| FCF Conversion (EBITDA) | 88.86% | 83.19% | 85.11% | 43.56% | 68.74% | 56.62% | 56.34% | 52.32% |
| FCF Conversion (Net income) | 145.7% | 171.54% | 102.38% | 60.5% | 96.3% | 73.51% | 74.99% | 72.63% |
| Dividend per Share 2 | 85.00 | 88.00 | 110.0 | 140.0 | 160.0 | 200.0 | 202.8 | 214.3 |
| Announcement Date | 5/8/20 | 5/10/21 | 5/10/22 | 5/9/23 | 5/8/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 S1 | 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 Q3 | 2025 Q4 | 2026 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,917,716 | 5,874,770 | 3,218,884 | 3,199,694 | 6,418,578 | 3,378,021 | 3,614,143 | 6,992,164 | 3,552,055 | 3,401,414 | - | 3,348,491 | 3,425,607 | 6,774,098 | 3,676,963 | 3,578,849 | - | 3,584,949 | 3,664,642 | 3,933,042 | 3,833,367 | 3,827,836 |
| EBITDA 1 | - | - | 261,098 | 218,296 | - | 282,725 | 306,760 | - | 288,865 | 233,525 | - | 268,451 | 272,466 | - | - | 272,814 | - | 277,131 | 309,462 | 310,990 | 335,844 | 296,615 |
| EBIT 1 | 190,936 | 304,128 | 160,601 | 117,793 | 278,394 | 183,035 | 205,498 | 388,533 | 185,862 | 127,518 | - | 167,237 | 167,887 | 350,922 | 188,160 | 163,818 | - | 171,600 | 195,473 | 201,095 | 243,135 | 182,032 |
| Operating Margin | 3.88% | 5.18% | 4.99% | 3.68% | 4.34% | 5.42% | 5.69% | 5.56% | 5.23% | 3.75% | - | 4.99% | 4.9% | 5.18% | 5.12% | 4.58% | - | 4.79% | 5.33% | 5.11% | 6.34% | 4.76% |
| Earnings before Tax (EBT) | 290,561 | 699,887 | 257,445 | 192,697 | 450,142 | 304,699 | - | 641,580 | 282,968 | 182,313 | - | 300,224 | - | 571,824 | 278,013 | - | - | - | - | - | - | - |
| Net income 1 | 252,508 | 500,612 | 178,252 | 141,405 | 319,657 | 230,631 | 252,400 | 483,031 | 199,198 | 118,290 | - | 213,237 | 199,662 | 412,899 | 198,794 | 190,077 | - | 225,543 | 213,956 | 221,293 | 235,874 | - |
| Net margin | 5.13% | 8.52% | 5.54% | 4.42% | 4.98% | 6.83% | 6.98% | 6.91% | 5.61% | 3.48% | - | 6.37% | 5.83% | 6.1% | 5.41% | 5.31% | - | 6.29% | 5.84% | 5.63% | 6.15% | - |
| EPS 2 | 169.6 | 337.0 | 120.0 | 95.80 | 215.8 | 157.0 | 171.8 | 328.7 | 135.9 | 81.44 | - | 146.5 | 137.3 | 283.9 | 137.2 | 131.9 | - | 161.6 | 138.4 | 149.4 | 186.1 | - |
| Dividend per Share 2 | 44.00 | 47.00 | - | 63.00 | 63.00 | - | 65.00 | 65.00 | - | 75.00 | 75.00 | - | 80.00 | 80.00 | - | 80.00 | 80.00 | - | 100.0 | - | 100.0 | - |
| Announcement Date | 11/4/20 | 11/5/21 | 2/3/22 | 5/10/22 | 5/10/22 | 8/5/22 | 11/4/22 | 11/4/22 | 2/3/23 | 5/9/23 | 5/9/23 | 8/4/23 | 11/5/23 | 11/5/23 | 2/5/24 | 5/8/24 | 5/8/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,390,988 | 3,664,974 | 2,283,000 | 2,391,169 | 2,741,600 | 3,090,982 | 2,596,207 | 3,122,580 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.125 x | 4.428 x | 2.314 x | 2.151 x | 2.441 x | 2.661 x | 2.136 x | 2.366 x |
| Free Cash Flow 1 | 730,445 | 688,604 | 839,800 | 484,300 | 772,100 | 657,700 | 684,783 | 690,333 |
| ROE (net income / shareholders' equity) | 17% | 12.7% | 21.8% | 17.8% | 15.6% | 16.1% | 15.1% | 14.9% |
| ROA (Net income/ Total Assets) | 6.67% | 4.64% | 9.86% | 8.76% | 7.94% | 6.03% | 6.11% | 6.1% |
| Assets 1 | 7,511,038 | 8,654,931 | 8,320,914 | 9,136,363 | 10,098,469 | 14,828,580 | 14,953,921 | 15,581,968 |
| Book Value Per Share 2 | 2,010 | 2,233 | 2,858 | 3,312 | 3,772 | 4,135 | 4,528 | 4,927 |
| Cash Flow per Share 2 | 618.0 | 555.0 | 825.0 | 826.0 | 843.0 | 704.0 | 777.0 | 809.0 |
| Capex 1 | 147,688 | 152,583 | 124,883 | 165,700 | 136,384 | 145,958 | 350,000 | 100,000 |
| Capex / Sales | 1.34% | 1.47% | 1.02% | 1.19% | 0.97% | 0.99% | 2.31% | 0.65% |
| Announcement Date | 5/8/20 | 5/10/21 | 5/10/22 | 5/9/23 | 5/8/24 | - | - | - |
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
BUY
Number of Analysts
9
Last Close Price
7,733
JPY
Average target price
7,886
JPY
Spread / Average Target
+1.97%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +39.12% | 80.36B | |
| +180.79% | 69.59B | |
| +11.24% | 43.31B | |
| +33.05% | 30.93B | |
| +29.36% | 30.06B | |
| +242.94% | 21.01B | |
| +5.10% | 15.76B | |
| +9.62% | 8B | |
| +22.14% | 5.33B |
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