Financials Osaka Organic Chemical Industry Ltd.

Equities

4187

JP3187000009

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-17 EDT			5-day change	1st Jan Change
3,395 ^JPY	+0.15%		+4.14%	+25.09%

01-29	Tranche Update on Osaka Organic Chemical Industry Ltd.'s Equity Buyback Plan announced on January 26, 2024.	CI
01-29	Osaka Organic Chemical Industry Ltd's Equity Buyback announced on January 26, 2024, has closed with 143,500 shares, representing 0.64% for ¥426.48 million.	CI

Valuation

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	31,029	64,218	80,861	45,562	56,763	71,610	-	-
Enterprise Value (EV) ¹	31,029	59,494	73,192	40,999	53,795	66,258	67,164	70,480
P/E ratio	10.2 x	19.4 x	16.2 x	9.74 x	17.5 x	25.1 x	20 x	16.4 x
Yield	2.86%	1.59%	1.37%	2.56%	2.1%	1.76%	1.91%	2.19%
Capitalization / Revenue	1.08 x	2.24 x	2.31 x	1.41 x	1.96 x	2.29 x	2.06 x	1.93 x
EV / Revenue	1.08 x	2.07 x	2.09 x	1.27 x	1.86 x	2.12 x	1.93 x	1.9 x
EV / EBITDA	-	9.11 x	8.83 x	4.99 x	8.96 x	9.22 x	7.94 x	7.58 x
EV / FCF	-485 x	72.3 x	15.3 x	-	-221 x	22.9 x	27.5 x	21 x
FCF Yield	-0.21%	1.38%	6.55%	-	-0.45%	4.36%	3.64%	4.76%
Price to Book	0.96 x	1.85 x	2.09 x	1.12 x	1.32 x	1.6 x	1.53 x	1.44 x
Nbr of stocks (in thousands)	22,148	22,152	22,154	21,563	21,268	21,124	-	-
Reference price ²	1,401	2,899	3,650	2,113	2,669	3,390	3,390	3,390
Announcement Date	1/9/20	1/7/21	1/12/22	1/12/23	1/11/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	28,638	28,681	35,027	32,236	28,907	31,292	34,777	37,098
EBITDA ¹	-	6,528	8,288	8,218	6,005	7,190	8,458	9,303
EBIT ¹	3,663	4,442	5,852	5,934	3,577	3,842	5,047	6,208
Operating Margin	12.79%	15.49%	16.71%	18.41%	12.37%	12.28%	14.51%	16.73%
Earnings before Tax (EBT) ¹	4,181	4,590	7,177	6,809	4,455	4,347	5,437	6,693
Net income ¹	3,035	3,313	4,998	4,725	3,270	2,976	3,687	4,562
Net margin	10.6%	11.55%	14.27%	14.66%	11.31%	9.51%	10.6%	12.3%
EPS ²	137.0	149.6	225.6	216.9	152.9	135.2	169.7	206.3
Free Cash Flow ¹	-64	822.8	4,794	-	-243	2,888	2,444	3,354
FCF margin	-0.22%	2.87%	13.69%	-	-0.84%	9.23%	7.03%	9.04%
FCF Conversion (EBITDA)	-	12.6%	57.85%	-	-	40.17%	28.9%	36.05%
FCF Conversion (Net income)	-	24.84%	95.93%	-	-	97.03%	66.3%	73.51%
Dividend per Share ²	40.00	46.00	50.00	54.00	56.00	59.83	64.76	74.36
Announcement Date	1/9/20	1/7/21	1/12/22	1/12/23	1/11/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: November	2020 S1	2020 S2	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
Net sales ¹	14,342	14,339	16,933	9,270	18,094	8,126	8,018	16,144	8,173	7,919	16,092	6,870	7,392	14,262	7,492	7,153	14,645	7,066	7,378	14,200	8,167	8,333	16,800
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,040	-	1,540	2,040	-
EBIT ¹	2,384	2,058	2,842	1,632	3,010	1,666	1,654	3,320	1,211	1,403	2,614	1,005	934	1,939	1,117	521	1,638	580	980	1,600	1,300	1,457	2,300
Operating Margin	16.62%	14.35%	16.78%	17.61%	16.64%	20.5%	20.63%	20.56%	14.82%	17.72%	16.24%	14.63%	12.64%	13.6%	14.91%	7.28%	11.18%	8.21%	13.28%	11.27%	15.92%	17.48%	13.69%
Earnings before Tax (EBT) ¹	2,406	2,184	3,201	2,237	3,976	1,733	1,792	3,525	1,395	1,889	3,284	1,039	-	2,322	1,475	658	-	913	930	-	1,260	1,230	-
Net income ¹	1,692	1,621	2,246	1,551	2,752	1,212	1,236	2,448	969	1,308	2,277	726	-	1,606	1,076	1,664	-	603	651	-	882	836	-
Net margin	11.8%	11.3%	13.26%	16.73%	15.21%	14.91%	15.42%	15.16%	11.86%	16.52%	14.15%	10.57%	-	11.26%	14.36%	23.26%	-	8.53%	8.82%	-	10.8%	10.03%	-
EPS	76.40	73.19	101.4	70.03	124.2	54.97	56.63	111.6	44.74	60.53	105.3	33.71	41.04	74.75	50.47	-	-	28.47	-	-	-	-	-
Dividend per Share	23.00	23.00	25.00	-	25.00	-	-	27.00	-	-	-	-	-	28.00	-	-	-	-	-	-	-	-	-
Announcement Date	7/2/20	1/7/21	7/1/21	1/12/22	1/12/22	4/8/22	7/7/22	7/7/22	10/7/22	1/12/23	1/12/23	4/7/23	7/6/23	7/6/23	10/6/23	1/11/24	1/11/24	4/12/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: November	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	-	4,724	7,669	4,562	2,968	5,352	4,446	1,130
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-64	823	4,794	-	-243	2,888	2,445	3,354
ROE (net income / shareholders' equity)	9.7%	9.9%	13.6%	11.9%	7.8%	7.08%	8.12%	9.34%
ROA (Net income/ Total Assets)	9.09%	10.3%	10.5%	12.4%	7.21%	-	-	-
Assets ¹	33,384	32,028	47,596	38,121	45,323	-	-	-
Book Value Per Share ²	1,455	1,565	1,744	1,893	2,021	2,112	2,213	2,353
Cash Flow per Share ²	217.0	244.0	336.0	322.0	266.0	290.0	362.0	-
Capex ¹	3,570	4,776	1,646	1,169	4,613	2,300	3,250	3,750
Capex / Sales	12.47%	16.65%	4.7%	3.63%	15.96%	7.35%	9.35%	10.11%
Announcement Date	1/9/20	1/7/21	1/12/22	1/12/23	1/11/24	-	-	-

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

Ratings for Osaka Organic Chemical Industry Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3,390 JPY

Average target price

3,428 JPY

Spread / Average Target

+1.12%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Commodity Chemicals

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NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+13.07%	16.92B
HENGLI PETROCHEMICAL CO.,LTD.	+18.38%	15.2B
RONGSHENG PETROCHEMICAL CO., LTD.	+4.83%	14.39B

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