Stock 2269 MEIJI HOLDINGS CO LTD
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Financials Meiji Holdings Co Ltd

Equities

2269

JP3918000005

Food Processing

Market Closed - Japan Exchange
Other stock markets
 02:00:00 2024-06-28 EDT 		5-day change 1st Jan Change
3,469 JPY -0.23% Intraday chart for Meiji Holdings Co Ltd +1.49% +3.58%
05-17 Meiji Holdings Declares Dividend MT
05-17 Meiji Holdings Resolves to Distribute Surplus Dividends for March 31, 2024, Payable on June 5, 2024 CI

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,303,858 1,114,146 1,033,108 930,831 879,554 958,175 - -
Enterprise Value (EV) 1 1,394,887 1,183,464 1,094,555 944,688 880,405 888,126 930,975 924,662
P/E ratio 21.1 x 16.6 x 15.7 x 10.9 x 12.8 x 18.6 x 17.8 x 16.5 x
Yield 1.56% 1.95% 2.25% 2.57% 2.85% 2.81% 2.82% 2.9%
Capitalization / Revenue 1.04 x 0.89 x 0.87 x 0.92 x 0.83 x 0.85 x 0.84 x 0.83 x
EV / Revenue 1.11 x 0.94 x 0.92 x 0.93 x 0.83 x 0.8 x 0.81 x 0.8 x
EV / EBITDA 9.75 x 7.95 x 7.09 x 6.6 x 6.82 x 6.36 x 6.59 x 6.3 x
EV / FCF 30.9 x 25.8 x 18 x 9.46 x 18.3 x 19.6 x 21 x 18.9 x
FCF Yield 3.24% 3.88% 5.54% 10.6% 5.48% 5.11% 4.77% 5.29%
Price to Book 2.47 x 1.98 x 1.66 x 1.38 x 1.24 x 1.27 x 1.25 x 1.23 x
Nbr of stocks (in thousands) 290,068 290,142 290,199 281,643 278,781 276,211 - -
Reference price 2 4,495 3,840 3,560 3,305 3,155 3,469 3,469 3,469
Announcement Date 19-05-13 20-05-22 21-05-18 22-05-12 23-05-11 24-05-10 - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,254,380 1,252,706 1,191,765 1,013,092 1,062,157 1,105,494 1,143,633 1,156,675
EBITDA 1 143,057 148,893 154,487 143,040 129,023 139,650 141,250 146,700
EBIT 1 98,383 102,708 106,061 92,922 75,433 84,322 85,850 90,112
Operating Margin 7.84% 8.2% 8.9% 9.17% 7.1% 7.63% 7.51% 7.79%
Earnings before Tax (EBT) 1 94,586 97,747 103,183 128,455 95,410 87,507 79,185 85,387
Net income 1 61,868 67,313 65,655 87,497 69,424 50,675 54,388 57,912
Net margin 4.93% 5.37% 5.51% 8.64% 6.54% 4.58% 4.76% 5.01%
EPS 2 213.3 232.0 226.3 303.6 247.4 181.6 195.1 209.7
Free Cash Flow 1 45,147 45,886 60,654 99,912 48,225 45,419 44,400 48,950
FCF margin 3.6% 3.66% 5.09% 9.86% 4.54% 4.11% 3.88% 4.23%
FCF Conversion (EBITDA) 31.56% 30.82% 39.26% 69.85% 37.38% 32.52% 31.43% 33.37%
FCF Conversion (Net income) 72.97% 68.17% 92.38% 114.19% 69.46% 89.63% 81.64% 84.52%
Dividend per Share 2 70.00 75.00 80.00 85.00 90.00 95.00 97.86 100.7
Announcement Date 19-05-13 20-05-22 21-05-18 22-05-12 23-05-11 24-05-10 - -
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 2025 Q1 2025 Q2 2025 S1 2025 Q3 2025 Q4 2025 S2 2026 S1 2026 S2
Net sales 1 618,077 - 584,976 606,789 264,791 500,712 269,247 243,133 512,380 247,131 270,389 517,520 280,563 264,074 544,637 262,734 283,313 546,047 286,956 272,491 559,447 274,700 286,600 - 315,700 281,600 - - -
EBITDA - - - - - - - 26,833 - 30,995 38,397 - 35,186 - - - - - - - - - - - - - - - -
EBIT 1 47,573 - 50,401 55,660 31,709 50,330 28,680 13,912 - 18,044 25,149 43,193 21,546 10,694 32,240 19,497 24,946 44,443 25,269 14,610 39,879 17,700 20,600 - 25,900 19,900 - - -
Operating Margin 7.7% - 8.62% 9.17% 11.98% 10.05% 10.65% 5.72% - 7.3% 9.3% 8.35% 7.68% 4.05% 5.92% 7.42% 8.81% 8.14% 8.81% 5.36% 7.13% 6.44% 7.19% - 8.2% 7.07% - - -
Earnings before Tax (EBT) 47,205 - 47,158 56,025 - 55,241 29,641 - - 23,158 - 48,303 20,698 26,409 47,107 22,630 25,423 48,053 25,977 - - - - - - - - - -
Net income 1 31,862 - 28,733 36,922 24,155 36,646 19,537 31,314 - 16,015 17,371 33,386 13,897 22,141 36,038 11,593 16,328 27,921 17,025 5,729 - - - - - - - - -
Net margin 5.16% - 4.91% 6.08% 9.12% 7.32% 7.26% 12.88% - 6.48% 6.42% 6.45% 4.95% 8.38% 6.62% 4.41% 5.76% 5.11% 5.93% 2.1% - - - - - - - - -
EPS 2 109.8 - 99.02 - 83.22 126.3 67.64 109.7 - 56.86 61.66 118.5 49.60 79.27 128.9 41.59 58.54 100.1 61.00 20.51 - 38.69 45.14 - 58.40 27.59 - - -
Dividend per Share 2 35.00 40.00 37.50 42.50 40.00 40.00 - - 45.00 - - 42.50 - - 47.50 - 47.50 47.50 - 47.50 - - - 50.00 - - 50.00 52.50 52.50
Announcement Date 19-11-08 20-05-22 20-11-10 21-05-18 21-11-09 21-11-09 22-02-09 22-05-12 22-05-12 22-08-09 22-11-08 22-11-08 23-02-09 23-05-11 23-05-11 23-08-08 23-11-09 23-11-09 24-02-08 24-05-10 24-05-10 - - - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 91,029 69,318 61,447 13,857 851 - - -
Net Cash position 1 - - - - - 56,932 27,200 33,513
Leverage (Debt/EBITDA) 0.6363 x 0.4656 x 0.3977 x 0.0969 x 0.006596 x - - -
Free Cash Flow 1 45,147 45,886 60,654 99,912 48,225 45,419 44,400 48,950
ROE (net income / shareholders' equity) 12.2% 12.4% 11.1% 13.5% 10% 6.9% 7.4% 7.66%
ROA (Net income/ Total Assets) 10.3% 10.3% 10.7% 8.6% 6.58% 6.49% 4.3% 5%
Assets 1 599,292 652,380 615,467 1,016,830 1,054,876 780,425 1,264,826 1,158,250
Book Value Per Share 2 1,818 1,940 2,141 2,391 2,554 2,675 2,775 2,812
Cash Flow per Share 2 362.0 391.0 393.0 477.0 438.0 380.0 263.0 414.0
Capex 1 71,169 71,129 68,710 95,482 52,531 62,564 77,000 71,667
Capex / Sales 5.67% 5.68% 5.77% 9.42% 4.95% 5.66% 6.73% 6.2%
Announcement Date 19-05-13 20-05-22 21-05-18 22-05-12 23-05-11 24-05-10 - -
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 Meiji Holdings Co Ltd

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
3,469 JPY
Average target price
3,600 JPY
Spread / Average Target
+3.78%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

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