SATO HOLDINGS CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,153 JPY | +0.65% |
|
+4.06% | +1.75% |
| 05-28 | Sato's Full-Year Profit Declines 15% | MT |
| 05-20 | SATO and EM Microelectronic Reshape the Possible with the Synergy of RAIN and NFC Technologies | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 87,131 | 71,255 | 96,832 | 57,884 | 70,900 | 69,319 | - | - |
| Enterprise Value (EV) 1 | 86,178 | 65,807 | 79,142 | 43,761 | 64,494 | 61,542 | 51,019 | 45,419 |
| P/E ratio | 23.1 x | -37.9 x | 7.47 x | 15.2 x | 17.3 x | 20.9 x | 10.3 x | 8.22 x |
| Yield | 2.7% | 3.3% | 2.43% | 4.07% | 3.29% | 3.18% | 3.46% | 3.48% |
| Capitalization / Revenue | 0.75 x | 0.61 x | 0.89 x | 0.46 x | 0.5 x | 0.52 x | 0.46 x | 0.44 x |
| EV / Revenue | 0.74 x | 0.57 x | 0.73 x | 0.35 x | 0.45 x | 0.43 x | 0.34 x | 0.29 x |
| EV / EBITDA | 6.5 x | 4.92 x | 7.79 x | 4.03 x | 4.62 x | 3.98 x | 3.07 x | 2.55 x |
| EV / FCF | 18.9 x | 11.7 x | 13.9 x | -100 x | 8.62 x | 21.3 x | 7.73 x | 5.61 x |
| FCF Yield | 5.3% | 8.52% | 7.21% | -1% | 11.6% | 4.69% | 12.9% | 17.8% |
| Price to Book | 1.57 x | 1.49 x | 1.66 x | 0.92 x | 1.08 x | 1.04 x | 0.89 x | 0.83 x |
| Nbr of stocks (in thousands) | 33,564 | 33,579 | 33,587 | 33,673 | 32,389 | 32,407 | - | - |
| Reference price 2 | 2,596 | 2,122 | 2,883 | 1,719 | 2,189 | 2,139 | 2,139 | 2,139 |
| Announcement Date | 19-05-10 | 20-05-15 | 21-05-11 | 22-05-10 | 23-05-15 | 24-05-15 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 116,179 | 116,372 | 109,052 | 124,783 | 142,824 | 143,446 | 152,000 | 156,800 |
| EBITDA 1 | 13,250 | 13,376 | 10,162 | 10,861 | 13,961 | 15,456 | 16,600 | 17,800 |
| EBIT 1 | 7,679 | 7,461 | 5,847 | 6,404 | 8,841 | 10,383 | 11,233 | 12,700 |
| Operating Margin | 6.61% | 6.41% | 5.36% | 5.13% | 6.19% | 7.24% | 7.39% | 8.1% |
| Earnings before Tax (EBT) 1 | 6,573 | 636 | 14,457 | 5,963 | 7,147 | 5,662 | 11,500 | 12,750 |
| Net income 1 | 3,773 | -1,882 | 12,959 | 3,794 | 4,184 | 3,565 | 6,950 | 8,633 |
| Net margin | 3.25% | -1.62% | 11.88% | 3.04% | 2.93% | 2.49% | 4.57% | 5.51% |
| EPS 2 | 112.5 | -56.06 | 385.9 | 112.7 | 126.7 | 110.0 | 207.4 | 260.3 |
| Free Cash Flow 1 | 4,564 | 5,610 | 5,704 | -436 | 7,480 | 2,884 | 6,600 | 8,100 |
| FCF margin | 3.93% | 4.82% | 5.23% | -0.35% | 5.24% | 2.01% | 4.34% | 5.17% |
| FCF Conversion (EBITDA) | 34.45% | 41.94% | 56.13% | - | 53.58% | 18.66% | 39.76% | 45.51% |
| FCF Conversion (Net income) | 120.96% | - | 44.02% | - | 178.78% | 80.9% | 94.96% | 93.82% |
| Dividend per Share 2 | 70.00 | 70.00 | 70.00 | 70.00 | 72.00 | 73.00 | 74.00 | 74.33 |
| Announcement Date | 19-05-10 | 20-05-15 | 21-05-11 | 22-05-10 | 23-05-15 | 24-05-15 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 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 | 57,875 | 58,497 | 49,872 | 30,084 | 60,261 | 32,126 | 32,395 | 64,522 | 33,686 | 36,777 | 70,463 | 37,871 | 34,489 | 72,361 | 33,989 | 35,797 | 69,786 | 37,629 | 36,031 | 73,660 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 3,542 | 3,919 | 1,470 | 1,073 | 2,779 | 1,963 | 1,660 | 3,625 | 824 | 2,952 | 3,776 | 3,305 | 1,760 | 5,065 | 2,160 | 2,460 | 4,620 | 3,467 | 2,296 | 5,763 |
| Operating Margin | 6.12% | 6.7% | 2.95% | 3.57% | 4.61% | 6.11% | 5.12% | 5.62% | 2.45% | 8.03% | 5.36% | 8.73% | 5.1% | 7% | 6.35% | 6.87% | 6.62% | 9.21% | 6.37% | 7.82% |
| Earnings before Tax (EBT) | 3,947 | - | 465 | - | 2,619 | 1,903 | - | - | 2,047 | - | 4,961 | 2,627 | - | - | 2,084 | - | 3,379 | 3,442 | - | - |
| Net income | 2,880 | -4,762 | 3,249 | - | 1,848 | 1,104 | - | - | 1,195 | - | 3,229 | 1,887 | -932 | - | 1,304 | - | 1,991 | 2,815 | - | - |
| Net margin | 4.98% | -8.14% | 6.51% | - | 3.07% | 3.44% | - | - | 3.55% | - | 4.58% | 4.98% | -2.7% | - | 3.84% | - | 2.85% | 7.48% | - | - |
| EPS | 85.82 | - | 96.77 | - | 54.97 | 32.77 | - | - | 35.66 | - | 96.70 | 57.34 | - | - | 40.28 | - | 61.47 | 86.87 | - | - |
| Dividend per Share | 36.00 | - | 35.00 | - | 35.00 | - | - | - | - | - | 36.00 | - | - | - | - | - | 36.00 | - | - | - |
| Announcement Date | 19-11-01 | 20-05-15 | 20-11-10 | 21-11-10 | 21-11-10 | 22-02-08 | 22-05-10 | 22-05-10 | 22-08-05 | 22-11-09 | 22-11-09 | 23-02-10 | 23-05-15 | 23-05-15 | 23-08-08 | 23-11-09 | 23-11-09 | 24-02-09 | 24-05-15 | 24-05-15 |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 953 | 5,448 | 17,690 | 14,123 | 6,406 | 12,931 | 18,300 | 23,900 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 4,564 | 5,610 | 5,704 | -436 | 7,480 | 2,884 | 6,600 | 8,100 |
| ROE (net income / shareholders' equity) | 6.9% | -3.6% | 24.4% | 6.3% | 6.5% | 5.2% | 10.3% | 10.9% |
| ROA (Net income/ Total Assets) | 7.12% | 6.24% | 5.2% | 5.28% | 7.47% | 7.02% | 5.8% | 6% |
| Assets 1 | 53,000 | -30,176 | 249,344 | 71,820 | 56,029 | 50,787 | 119,828 | 143,889 |
| Book Value Per Share 2 | 1,650 | 1,423 | 1,735 | 1,875 | 2,021 | 2,199 | 2,390 | 2,587 |
| Cash Flow per Share | 246.0 | 94.20 | 508.0 | 238.0 | 274.0 | 262.0 | - | - |
| Capex 1 | 4,801 | 5,649 | 5,916 | 6,658 | 6,830 | 9,679 | 7,500 | 8,900 |
| Capex / Sales | 4.13% | 4.85% | 5.42% | 5.34% | 4.78% | 6.75% | 4.93% | 5.68% |
| Announcement Date | 19-05-10 | 20-05-15 | 21-05-11 | 22-05-10 | 23-05-15 | 24-05-15 | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
2,139
JPY
Average target price
2,300
JPY
Spread / Average Target
+7.53%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +1.75% | 434M | |
| +23.26% | 26.94B | |
| +26.96% | 5.04B | |
| +28.06% | 4.52B | |
| +7.68% | 1.38B | |
| +18.79% | 1.15B | |
| -24.65% | 971M | |
| +6.14% | 835M | |
| -52.04% | 667M | |
| -18.93% | 318M |
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