Financials Yamaichi Electronics Co., Ltd.

Equities

6941

JP3934200001

Semiconductor Equipment & Testing

Delayed Japan Exchange Other stock markets 02:00:00 2024-05-15 EDT			5-day change	1st Jan Change
3,270 ^JPY	+18.22%		+19.21%	+68.90%

05-14	Yamaichi Electronics Co., Ltd. announces an Equity Buyback for 500,000 shares, representing 2.45% for ¥1,000 million.	CI
05-14	Yamaichi Electronics Co.,Ltd. authorizes a Buyback Plan.	CI

Valuation

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	23,861	29,675	32,073	39,672	40,789	56,546	-	-
Enterprise Value (EV) ¹	19,054	24,855	28,102	31,687	29,557	50,904	56,546	56,546
P/E ratio	10.3 x	11.3 x	12.4 x	5.88 x	5.68 x	24.8 x	17.2 x	14.8 x
Yield	2.94%	2.74%	2.47%	5.11%	5.29%	1.24%	1.7%	2.04%
Capitalization / Revenue	0.9 x	1.1 x	1.16 x	1 x	0.87 x	1.4 x	1.36 x	1.29 x
EV / Revenue	0.9 x	1.1 x	1.16 x	1 x	0.87 x	1.4 x	1.36 x	1.29 x
EV / EBITDA	5.19 x	5.79 x	5.89 x	3.65 x	3.46 x	10.7 x	6.58 x	5.83 x
EV / FCF	9.79 x	11.4 x	-356 x	-	6.17 x	88.1 x	20.4 x	19.5 x
FCF Yield	10.2%	8.76%	-0.28%	-	16.2%	1.14%	4.91%	5.12%
Price to Book	1.08 x	1.29 x	1.27 x	1.25 x	1.11 x	1.34 x	1.45 x	1.35 x
Nbr of stocks (in thousands)	21,931	21,410	21,410	21,136	20,736	20,443	-	-
Reference price ²	1,088	1,386	1,498	1,877	1,967	2,766	2,766	2,766
Announcement Date	19-05-15	20-05-29	21-05-14	22-05-13	23-05-12	24-05-14	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	26,391	27,008	27,673	39,574	46,985	36,423	41,500	43,800
EBITDA ¹	4,594	5,123	5,445	10,869	11,793	5,300	8,600	9,700
EBIT ¹	2,908	3,064	3,192	8,375	9,134	2,933	4,850	5,600
Operating Margin	11.02%	11.34%	11.53%	21.16%	19.44%	8.05%	11.69%	12.79%
Earnings before Tax (EBT)	3,196	3,187	3,058	8,765	9,450	3,084	-	-
Net income ¹	2,344	2,653	2,592	6,771	7,212	2,060	3,295	3,820
Net margin	8.88%	9.82%	9.37%	17.11%	15.35%	5.66%	7.94%	8.72%
EPS ²	105.4	123.1	121.1	319.2	346.1	100.4	161.2	186.9
Free Cash Flow ¹	2,437	2,599	-90	-	6,611	642	2,776	2,896
FCF margin	9.23%	9.62%	-0.33%	-	14.07%	1.76%	6.69%	6.61%
FCF Conversion (EBITDA)	53.05%	50.73%	-	-	56.06%	12.11%	32.28%	29.86%
FCF Conversion (Net income)	103.97%	97.96%	-	-	91.67%	35.97%	84.25%	75.81%
Dividend per Share ²	32.00	38.00	37.00	96.00	104.0	31.00	47.00	56.50
Announcement Date	19-05-15	20-05-29	21-05-14	22-05-13	23-05-12	24-05-14	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März	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
Net sales ¹	13,480	13,528	14,064	13,609	9,661	18,562	10,150	10,862	21,012	13,187	13,979	27,166	9,891	9,928	19,819	8,817	9,789	18,606	8,409	9,408	17,817
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,698	1,366	2,113	1,079	1,869	3,677	2,318	2,380	4,698	3,232	3,435	6,667	1,187	1,280	2,467	597	973	1,570	357	1,006	1,363
Operating Margin	12.6%	10.1%	15.02%	7.93%	19.35%	19.81%	22.84%	21.91%	22.36%	24.51%	24.57%	24.54%	12%	12.89%	12.45%	6.77%	9.94%	8.44%	4.25%	10.69%	7.65%
Earnings before Tax (EBT)	1,778	-	2,043	-	-	3,761	2,425	-	-	3,658	-	7,287	999	-	-	649	-	1,830	252	-	-
Net income	1,468	-	1,629	-	-	2,979	1,868	-	-	2,589	-	5,244	629	-	-	347	-	1,198	190	-	-
Net margin	10.89%	-	11.58%	-	-	16.05%	18.4%	-	-	19.63%	-	19.3%	6.36%	-	-	3.94%	-	6.44%	2.26%	-	-
EPS	67.60	-	76.13	-	-	140.0	88.32	-	-	122.7	-	250.4	30.96	-	-	16.76	-	58.24	9.360	-	-
Dividend per Share	10.00	-	10.00	-	-	15.00	-	-	-	-	-	35.00	-	-	-	-	-	18.00	-	-	-
Announcement Date	19-11-05	20-05-29	20-11-06	21-05-14	21-11-05	21-11-05	22-02-04	22-05-13	22-05-13	22-08-05	22-11-04	22-11-04	23-02-03	23-05-12	23-05-12	23-08-04	23-11-07	23-11-07	24-02-06	24-05-14	24-05-14

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	4,807	4,820	3,971	7,985	11,232	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	2,437	2,599	-90	-	6,611	642	2,776	2,896
ROE (net income / shareholders' equity)	10.6%	11.8%	10.7%	23.7%	21.1%	5.5%	-	-
ROA (Net income/ Total Assets)	9.4%	10.1%	9.33%	21.6%	19.7%	5.75%	-	-
Assets ¹	24,937	26,358	27,774	31,291	36,533	35,852	-	-
Book Value Per Share ²	1,004	1,077	1,184	1,499	1,770	1,862	1,905	2,053
Cash Flow per Share	181.0	218.0	226.0	437.0	474.0	236.0	-	-
Capex ¹	1,841	2,098	3,814	2,789	4,550	6,000	3,400	4,600
Capex / Sales	6.98%	7.77%	13.78%	7.05%	9.68%	16.44%	8.19%	10.5%
Announcement Date	19-05-15	20-05-29	21-05-14	22-05-13	23-05-12	24-05-14	-	-

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 Yamaichi Electronics Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,766 JPY

Average target price

3,000 JPY

Spread / Average Target

+8.46%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Semiconductor Equipment & Testing

	1st Jan change	Capi.
YAMAICHI ELECTRONICS CO., LTD.	+68.90%	362M
ASML HOLDING N.V.	+24.37%	357B
LAM RESEARCH CORPORATION	+16.51%	119B
TOKYO ELECTRON LTD.	+39.50%	102B
ASE TECHNOLOGY HOLDING CO., LTD.	+10.37%	19.89B
ONTO INNOVATION INC.	+49.31%	11.25B
SCREEN HOLDINGS CO., LTD.	+30.09%	9.44B
AMKOR TECHNOLOGY, INC.	+0.09%	8.2B
ZHEJIANG JINGSHENG MECHANICAL & ELECTRICAL CO., LTD.	-26.63%	5.85B
ASMPT LIMITED	+31.74%	5.21B

Other Semiconductor Equipment & Testing