Financials Pacific Industrial Co., Ltd.

Equities

7250

JP3448400006

Auto, Truck & Motorcycle Parts

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-06-28 EDT			5-day change	1st Jan Change
1,508 ^JPY	+0.27%		+1.00%	+17.26%

04-25	Pacific Industrial Co., Ltd. announces an Equity Buyback for 1,500,000 shares, representing 2.54% for ¥2,000 million.	CI
04-25	Pacific Industrial Co., Ltd. authorizes a Buyback Plan.	CI

Valuation

Fiscal Period: Marzo	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	56,878	76,914	57,430	68,827	100,016	88,133	-	-
Enterprise Value (EV) ¹	102,298	114,883	92,601	98,075	116,855	124,922	120,500	122,750
P/E ratio	7.83 x	9.63 x	5.86 x	7.43 x	5.9 x	8.52 x	7.53 x	6.89 x
Yield	3.19%	2.6%	4.32%	3.64%	4.51%	3.56%	3.95%	4.22%
Capitalization / Revenue	0.34 x	0.51 x	0.35 x	0.36 x	0.48 x	0.43 x	0.42 x	0.4 x
EV / Revenue	0.62 x	0.76 x	0.56 x	0.51 x	0.56 x	0.61 x	0.57 x	0.56 x
EV / EBITDA	4.14 x	4.7 x	3.4 x	3.57 x	3.61 x	4.23 x	3.78 x	3.76 x
EV / FCF	-37.5 x	10.7 x	82.1 x	-	7.39 x	-18.3 x	21.4 x	14.2 x
FCF Yield	-2.67%	9.35%	1.22%	-	13.5%	-5.46%	4.67%	7.04%
Price to Book	0.58 x	0.69 x	0.44 x	0.5 x	0.6 x	0.51 x	0.48 x	0.46 x
Nbr of stocks (in thousands)	60,444	60,515	60,580	59,642	58,558	58,599	-	-
Reference price ²	941.0	1,271	948.0	1,154	1,708	1,504	1,504	1,504
Announcement Date	4/30/20	4/28/21	4/27/22	4/27/23	4/25/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Marzo	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	165,969	150,408	164,472	191,254	207,348	205,800	210,740	219,700
EBITDA ¹	24,703	24,467	27,243	27,493	32,369	29,550	31,850	32,675
EBIT ¹	10,511	8,974	10,756	9,298	14,456	12,075	13,910	15,012
Operating Margin	6.33%	5.97%	6.54%	4.86%	6.97%	5.87%	6.6%	6.83%
Earnings before Tax (EBT) ¹	9,546	10,253	13,805	12,911	26,452	14,050	15,400	17,100
Net income ¹	7,256	7,982	9,803	9,301	16,974	10,222	11,534	12,506
Net margin	4.37%	5.31%	5.96%	4.86%	8.19%	4.97%	5.47%	5.69%
EPS ²	120.1	132.0	161.9	155.3	289.5	176.6	199.6	218.3
Free Cash Flow ¹	-2,730	10,744	1,128	-	15,804	-6,821	5,628	8,638
FCF margin	-1.64%	7.14%	0.69%	-	7.62%	-3.31%	2.67%	3.93%
FCF Conversion (EBITDA)	-	43.91%	4.14%	-	48.82%	-	17.67%	26.44%
FCF Conversion (Net income)	-	134.6%	11.51%	-	93.11%	-	48.79%	69.07%
Dividend per Share ²	30.00	33.00	41.00	42.00	77.00	53.50	59.40	63.50
Announcement Date	4/30/20	4/28/21	4/27/22	4/27/23	4/25/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2021 S1	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	64,827	78,422	41,626	44,424	44,468	46,443	90,911	52,512	47,831	49,301	53,354	102,655	53,328	51,365	49,986	49,600	50,083	49,831
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	862	5,024	2,760	2,972	1,662	939	2,601	3,089	3,608	3,147	4,347	7,494	3,746	3,216	2,806	2,794	3,100	3,200
Operating Margin	1.33%	6.41%	6.63%	6.69%	3.74%	2.02%	2.86%	5.88%	7.54%	6.38%	8.15%	7.3%	7.02%	6.26%	5.61%	5.63%	6.19%	6.42%
Earnings before Tax (EBT)	1,268	5,694	4,188	3,923	3,810	-	5,437	2,969	4,505	5,234	5,033	10,267	4,681	-	-	-	-	-
Net income ¹	942	4,381	3,020	2,402	2,909	-	4,131	2,070	3,100	3,956	3,575	7,531	3,374	-	2,600	1,850	2,900	2,650
Net margin	1.45%	5.59%	7.26%	5.41%	6.54%	-	4.54%	3.94%	6.48%	8.02%	6.7%	7.34%	6.33%	-	5.2%	3.73%	5.79%	5.32%
EPS	15.58	72.37	49.85	39.64	48.18	20.57	68.75	34.67	51.91	67.26	61.02	128.3	57.62	103.6	-	-	-	-
Dividend per Share	10.00	16.00	-	-	-	-	20.00	-	-	-	-	22.00	-	-	-	-	-	-
Announcement Date	10/28/20	10/27/21	2/2/22	4/27/22	7/27/22	10/26/22	10/26/22	2/2/23	4/27/23	7/27/23	10/26/23	10/26/23	2/1/24	4/25/24	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	45,420	37,969	35,171	29,248	16,839	36,789	32,366	34,616
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.839 x	1.552 x	1.291 x	1.064 x	0.5202 x	1.245 x	1.016 x	1.059 x
Free Cash Flow ¹	-2,730	10,744	1,128	-	15,804	-6,821	5,628	8,638
ROE (net income / shareholders' equity)	7.5%	7.6%	8.1%	7%	11.2%	6.06%	6.25%	6.7%
ROA (Net income/ Total Assets)	5.45%	5.22%	6.21%	5.25%	6.84%	4.8%	5.1%	5.55%
Assets ¹	133,030	152,913	157,951	177,267	248,047	212,969	226,157	225,338
Book Value Per Share ²	1,614	1,846	2,138	2,309	2,840	2,955	3,137	3,280
Cash Flow per Share ²	355.0	373.0	434.0	459.0	595.0	478.0	498.0	507.0
Capex ¹	23,451	16,244	18,133	22,936	31,520	30,000	24,000	23,000
Capex / Sales	14.13%	10.8%	11.02%	11.99%	15.2%	14.58%	11.39%	10.47%
Announcement Date	4/30/20	4/28/21	4/27/22	4/27/23	4/25/24	-	-	-

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 Pacific Industrial Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1,504 JPY

Average target price

1,728 JPY

Spread / Average Target

+14.86%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Auto, Truck & Motorcycle Parts

	1st Jan change	Capi.
PACIFIC INDUSTRIAL CO., LTD.	+17.26%	548M
DENSO CORPORATION	+17.44%	45.26B
WEICHAI POWER CO., LTD.	+14.57%	18.58B
APTIV PLC	-23.12%	18.77B
FUYAO GLASS INDUSTRY GROUP CO., LTD.	+26.91%	16.57B
HYUNDAI MOBIS CO.,LTD	+5.70%	16.14B
SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED	+86.57%	16.11B
SUMITOMO ELECTRIC INDUSTRIES, LTD.	+39.38%	12.09B
BOSCH LIMITED	+53.36%	12.36B
MAGNA INTERNATIONAL INC.	-27.26%	11.95B

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