Financials KOA Corporation

Equities

6999

JP3283400004

Electronic Equipment & Parts

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-10 EDT			5-day change	1st Jan Change
1,549 ^JPY	-1.34%		-4.21%	+0.06%

04-26	Kongsberg Automotive's Gear Control Unit Bags EUR523 Million Contract Extension	MT
04-26	Kongsberg Automotive Opens New Plant in Mexico	MT

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	54,740	32,855	57,787	53,149	68,292	57,459	-	-
Enterprise Value (EV) ¹	39,874	20,702	42,861	36,810	55,678	54,016	68,296	67,445
P/E ratio	53.7 x	30.5 x	28.4 x	11.1 x	9.27 x	19.6 x	15.7 x	12.5 x
Yield	2.42%	2.02%	0.86%	2.51%	2.71%	3.42%	3.23%	3.31%
Capitalization / Revenue	0.98 x	0.66 x	1.15 x	0.82 x	0.91 x	0.84 x	0.83 x	0.75 x
EV / Revenue	0.71 x	0.41 x	0.85 x	0.57 x	0.74 x	0.83 x	0.98 x	0.88 x
EV / EBITDA	4.63 x	4.22 x	7.26 x	3.98 x	3.9 x	6.58 x	6.63 x	5.23 x
EV / FCF	-18,853,175 x	-15,695,460 x	16,516,948 x	27,593,420 x	-17,232,547 x	-	-4,484,021 x	192,699,791 x
FCF Yield	-0%	-0%	0%	0%	-0%	-	-0%	0%
Price to Book	0.92 x	0.56 x	0.94 x	0.79 x	0.93 x	0.69 x	0.78 x	0.78 x
Nbr of stocks (in thousands)	36,763	36,833	36,925	36,986	37,075	37,095	-	-
Reference price ²	1,489	892.0	1,565	1,437	1,842	1,549	1,549	1,549
Announcement Date	19-04-19	20-04-21	21-04-22	22-04-22	23-04-25	24-04-23	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	55,895	50,020	50,378	64,955	75,072	64,835	69,567	76,300
EBITDA ¹	8,614	4,902	5,906	9,246	14,290	8,203	10,300	12,900
EBIT ¹	5,670	1,465	2,317	5,721	10,222	3,313	4,133	6,162
Operating Margin	10.14%	2.93%	4.6%	8.81%	13.62%	5.11%	5.94%	8.08%
Earnings before Tax (EBT)	1,435	1,435	2,790	6,535	9,808	3,992	-	-
Net income ¹	1,018	1,077	2,034	4,771	7,367	2,769	3,260	4,610
Net margin	1.82%	2.15%	4.04%	7.35%	9.81%	4.27%	4.69%	6.04%
EPS ²	27.73	29.26	55.14	129.1	198.8	74.66	98.38	124.3
Free Cash Flow	-2,115	-1,319	2,595	1,334	-3,231	-	-15,231	350
FCF margin	-3.78%	-2.64%	5.15%	2.05%	-4.3%	-	-21.89%	0.46%
FCF Conversion (EBITDA)	-	-	43.94%	14.43%	-	-	-	2.71%
FCF Conversion (Net income)	-	-	127.58%	27.96%	-	-	-	7.59%
Dividend per Share ²	36.00	18.00	13.50	36.00	50.00	50.00	50.00	51.25
Announcement Date	19-04-19	20-04-21	21-04-22	22-04-22	23-04-25	24-04-23	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	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	25,176	22,143	15,693	31,657	16,069	17,229	18,649	19,315	37,964	19,346	17,762	37,108	16,972	16,554	33,526	15,691	15,618	31,309
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,006	495	1,543	3,467	1,130	1,124	2,675	2,934	5,609	3,070	1,543	4,613	865	586	1,451	1,617	245	1,862
Operating Margin	4%	2.24%	9.83%	10.95%	7.03%	6.52%	14.34%	15.19%	14.77%	15.87%	8.69%	12.43%	5.1%	3.54%	4.33%	10.31%	1.57%	5.95%
Earnings before Tax (EBT)	812	476	-	3,613	1,441	-	3,456	2,877	6,333	1,885	-	-	1,569	660	2,229	1,087	-	-
Net income	667	281	1,188	2,604	1,158	1,009	2,348	2,167	4,515	1,523	1,329	-	1,058	464	1,522	871	-	-
Net margin	2.65%	1.27%	7.57%	8.23%	7.21%	5.86%	12.59%	11.22%	11.89%	7.87%	7.48%	-	6.23%	2.8%	4.54%	5.55%	-	-
EPS	18.14	7.630	-	70.50	31.31	-	63.39	-	121.8	41.09	-	-	28.55	-	41.05	23.49	-	-
Dividend per Share	18.00	4.500	-	16.00	-	-	-	-	25.00	-	-	-	-	-	25.00	-	-	-
Announcement Date	19-10-18	20-10-20	21-10-21	21-10-21	22-01-27	22-04-22	22-07-25	22-10-25	22-10-25	23-01-27	23-04-25	23-04-25	23-07-25	23-10-24	23-10-24	24-01-26	24-04-23	24-04-23

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	10,837	9,986
Net Cash position ¹	14,866	12,153	14,926	16,339	12,614	142	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	1.052 x	0.7741 x
Free Cash Flow	-2,115	-1,319	2,595	1,334	-3,231	-	-15,231	350
ROE (net income / shareholders' equity)	1.7%	1.8%	3.4%	7.4%	10.5%	3.6%	4.45%	6.66%
ROA (Net income/ Total Assets)	8.11%	2.25%	3.74%	7.78%	10.1%	3.7%	-	-
Assets ¹	12,545	47,774	54,396	61,326	72,620	74,808	-	-
Book Value Per Share ²	1,627	1,580	1,666	1,811	1,988	2,118	1,996	1,982
Cash Flow per Share	108.0	123.0	152.0	224.0	308.0	207.0	-	-
Capex ¹	5,543	5,413	2,236	4,637	11,919	15,690	22,000	9,000
Capex / Sales	9.92%	10.82%	4.44%	7.14%	15.88%	24.2%	31.62%	11.8%
Announcement Date	19-04-19	20-04-21	21-04-22	22-04-22	23-04-25	24-04-23	-	-

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 KOA Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,549 JPY

Average target price

1,875 JPY

Spread / Average Target

+21.05%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
KOA CORPORATION	+0.06%	369M
AMPHENOL CORPORATION	+28.69%	76.62B
HON HAI PRECISION INDUSTRY CO., LTD.	+62.20%	72.38B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-14.37%	29.31B
JABIL INC.	-7.42%	14.22B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-7.23%	10.61B
LENS TECHNOLOGY CO., LTD.	+8.71%	9.81B
BYD ELECTRONIC (INTERNATIONAL) COMPANY LIMITED	-9.56%	9.54B
EOPTOLINK TECHNOLOGY INC., LTD.	+69.97%	8.24B
YAGEO CORPORATION	+6.37%	8.21B

Electronic Component