Financials Japan Tobacco, Inc. BOERSE MUENCHEN

Equities

JAT

JP3726800000

Tobacco

Real-time BOERSE MUENCHEN 11:13:18 2024-07-05 EDT 5-day change 1st Jan Change
25.19 EUR -1.52% Intraday chart for Japan Tobacco, Inc. -1.34% +11.23%

Valuation

Fiscal Period: Dezember 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,314,758 3,729,458 4,121,325 4,722,880 6,470,988 7,946,429 - -
Enterprise Value (EV) 1 4,932,101 4,208,419 4,318,216 4,814,306 6,573,041 7,744,948 7,662,663 7,549,732
P/E ratio 12.4 x 12 x 12.2 x 10.7 x 13.4 x 15.9 x 14.9 x 13.9 x
Yield 6.33% 7.33% 6.03% 7.07% 5.32% 4.56% 4.86% 5.17%
Capitalization / Revenue 1.98 x 1.78 x 1.77 x 1.78 x 2.28 x 2.65 x 2.57 x 2.48 x
EV / Revenue 2.27 x 2.01 x 1.86 x 1.81 x 2.31 x 2.58 x 2.48 x 2.36 x
EV / EBITDA 7.19 x 6.49 x 6.29 x 5.64 x 7.71 x 8.75 x 8.39 x 7.93 x
EV / FCF 12.1 x 10.2 x 8.61 x 12.6 x 14.9 x 16.1 x 16.2 x 14.5 x
FCF Yield 8.29% 9.77% 11.6% 7.93% 6.72% 6.22% 6.17% 6.9%
Price to Book 1.62 x 1.48 x 1.47 x 1.33 x 1.69 x 1.98 x 1.93 x 1.86 x
Nbr of stocks (in thousands) 1,773,796 1,774,243 1,774,521 1,774,851 1,775,305 1,775,342 - -
Reference price 2 2,432 2,102 2,322 2,661 3,645 4,476 4,476 4,476
Announcement Date 20-02-06 21-02-09 22-02-14 23-02-14 24-02-13 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Dezember 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,175,626 2,092,561 2,324,838 2,657,832 2,841,077 3,003,753 3,095,621 3,197,965
EBITDA 1 686,207 648,708 686,078 853,226 852,062 884,664 913,288 952,437
EBIT 1 502,355 469,054 499,021 653,575 672,410 705,163 734,156 777,191
Operating Margin 23.09% 22.42% 21.46% 24.59% 23.67% 23.48% 23.72% 24.3%
Earnings before Tax (EBT) 1 465,232 420,063 472,390 593,450 621,601 669,743 715,813 773,648
Net income 1 348,190 310,253 338,490 442,716 482,288 499,988 530,120 567,763
Net margin 16% 14.83% 14.56% 16.66% 16.98% 16.65% 17.12% 17.75%
EPS 2 196.0 174.9 190.8 249.4 271.7 282.1 299.8 322.2
Free Cash Flow 1 408,976 411,213 501,410 381,977 441,653 482,088 472,905 521,172
FCF margin 18.8% 19.65% 21.57% 14.37% 15.55% 16.05% 15.28% 16.3%
FCF Conversion (EBITDA) 59.6% 63.39% 73.08% 44.77% 51.83% 54.49% 51.78% 54.72%
FCF Conversion (Net income) 117.46% 132.54% 148.13% 86.28% 91.57% 96.42% 89.21% 91.79%
Dividend per Share 2 154.0 154.0 140.0 188.0 194.0 204.2 217.6 231.3
Announcement Date 20-02-06 21-02-09 22-02-14 23-02-14 24-02-13 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 2021 Q4 2021 S2 2022 Q1 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 S2 2026 S1
Net sales 1 1,117,077 1,030,218 1,144,500 558,763 1,180,338 581,505 685,323 1,266,828 741,670 649,284 1,391,004 665,278 727,534 1,392,812 764,206 684,059 1,448,265 740,333 789,819 1,526,400 834,460 719,770 1,544,500 814,343 814,343 - - -
EBITDA - - - - - - - - - - - - - - - - - - - - - - - - - - - -
EBIT 1 191,029 251,989 322,100 18,325 - 178,368 204,604 382,972 196,330 91,372 270,603 206,404 207,151 413,555 218,292 40,563 258,855 215,818 214,904 424,500 219,455 67,966 268,800 203,851 203,851 - - -
Operating Margin 17.1% 24.46% 28.14% 3.28% - 30.67% 29.86% 30.23% 26.47% 14.07% 19.45% 31.03% 28.47% 29.69% 28.56% 5.93% 17.87% 29.15% 27.21% 27.81% 26.3% 9.44% 17.4% 25.03% 25.03% - - -
Earnings before Tax (EBT) 1 174,614 225,961 314,095 8,569 - 174,699 186,286 360,985 174,611 57,854 - 183,146 190,284 373,430 212,779 35,392 248,171 201,266 219,911 - 236,566 68,923 - - - - - -
Net income 1 121,739 172,495 225,200 -323 - 124,110 139,953 264,063 139,740 38,916 - 144,684 142,325 287,009 155,001 40,278 195,279 157,266 156,781 - 169,606 40,521 - - - - - -
Net margin 10.9% 16.74% 19.68% -0.06% - 21.34% 20.42% 20.84% 18.84% 5.99% - 21.75% 19.56% 20.61% 20.28% 5.89% 13.48% 21.24% 19.85% - 20.33% 5.63% - - - - - -
EPS 2 68.74 97.23 126.9 -0.1900 - 69.94 78.86 148.8 78.73 21.92 100.6 81.52 80.18 161.7 87.31 22.68 110.0 88.58 85.39 - 89.68 23.90 - - - - - -
Dividend per Share 2 77.00 - 65.00 75.00 75.00 - 75.00 75.00 - 113.0 113.0 - 94.00 94.00 - 100.0 100.0 - 51.68 96.00 51.68 51.68 96.00 56.35 56.35 104.0 104.0 104.0
Announcement Date 20-02-06 20-07-31 21-07-30 22-02-14 22-02-14 22-04-28 22-07-29 22-07-29 22-10-31 23-02-14 23-02-14 23-05-02 23-07-31 23-07-31 23-10-31 24-02-13 24-02-13 24-05-09 - - - - - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 617,343 478,961 196,891 91,426 102,053 - - -
Net Cash position 1 - - - - - 201,481 283,766 396,697
Leverage (Debt/EBITDA) 0.8996 x 0.7383 x 0.287 x 0.1072 x 0.1198 x - - -
Free Cash Flow 1 408,976 411,213 501,410 381,977 441,653 482,088 472,905 521,172
ROE (net income / shareholders' equity) 13.2% 12% 12.7% 13.9% 13.1% 12.9% 13.4% 13.7%
ROA (Net income/ Total Assets) 8.45% 7.68% 8.47% 9.63% 8.99% 6.78% 6.9% 7.03%
Assets 1 4,121,738 4,038,023 3,996,755 4,596,237 5,365,283 7,379,890 7,682,893 8,082,029
Book Value Per Share 2 1,501 1,422 1,583 1,995 2,157 2,259 2,323 2,402
Cash Flow per Share 2 299.0 276.0 296.0 362.0 373.0 393.0 364.0 371.0
Capex 1 131,434 108,620 86,350 101,044 125,361 146,029 129,705 131,269
Capex / Sales 6.04% 5.19% 3.71% 3.8% 4.41% 4.86% 4.19% 4.1%
Announcement Date 20-02-06 21-02-09 22-02-14 23-02-14 24-02-13 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
4,476 JPY
Average target price
4,364 JPY
Spread / Average Target
-2.50%
Consensus
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