Financials Yokorei Co.,Ltd.

Equities

2874

JP3957000007

Food Processing

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-17 EDT			5-day change	1st Jan Change
1,031 ^JPY	+1.38%		-1.53%	-1.72%

2023	Yokorei Co.,Ltd. Reports Earnings Results for the Half Year Ended March 31, 2023	CI
2022	Tranche Update on Yokorei Co.,Ltd.'s Equity Buyback Plan announced on November 14, 2022.	CI

Valuation

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	60,662	53,658	52,185	51,891	71,169	60,635	-	-
Enterprise Value (EV) ¹	138,339	133,006	128,596	126,944	163,109	60,635	60,635	60,635
P/E ratio	17.9 x	22.9 x	14.5 x	15.6 x	25.1 x	19.6 x	17.1 x	14.4 x
Yield	2.22%	2.52%	2.59%	2.61%	1.98%	2.33%	2.33%	2.33%
Capitalization / Revenue	0.43 x	0.47 x	0.47 x	0.45 x	0.53 x	0.43 x	0.42 x	0.41 x
EV / Revenue	0.43 x	0.47 x	0.47 x	0.45 x	0.53 x	0.43 x	0.42 x	0.41 x
EV / EBITDA	-	5.39 x	5.33 x	-	-	5.51 x	5.27 x	5.01 x
EV / FCF	4.26 x	42.3 x	45.7 x	16.9 x	-4.71 x	-36.5 x	1,639 x	23.5 x
FCF Yield	23.5%	2.36%	2.19%	5.92%	-21.2%	-2.74%	0.06%	4.26%
Price to Book	0.77 x	0.69 x	0.64 x	0.62 x	0.83 x	0.69 x	0.68 x	0.66 x
Nbr of stocks (in thousands)	58,611	58,771	58,833	58,900	58,769	58,812	-	-
Reference price ²	1,035	913.0	887.0	881.0	1,211	1,031	1,031	1,031
Announcement Date	19-11-14	20-11-13	21-11-12	22-11-14	23-11-14	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	139,970	115,025	110,782	115,257	133,862	139,650	144,900	149,600
EBITDA ¹	-	9,949	9,782	-	-	11,000	11,500	12,100
EBIT ¹	4,774	3,412	2,562	4,252	3,785	4,450	5,100	6,000
Operating Margin	3.41%	2.97%	2.31%	3.69%	2.83%	3.19%	3.52%	4.01%
Earnings before Tax (EBT) ¹	5,958	3,701	4,575	4,999	4,464	5,100	5,900	6,700
Net income ¹	3,385	2,340	3,605	3,317	2,831	3,100	3,550	4,200
Net margin	2.42%	2.03%	3.25%	2.88%	2.11%	2.22%	2.45%	2.81%
EPS ²	57.77	39.86	61.30	56.34	48.16	52.70	60.35	71.40
Free Cash Flow ¹	14,227	1,269	1,142	3,072	-15,107	-1,660	37	2,583
FCF margin	10.16%	1.1%	1.03%	2.67%	-11.29%	-1.19%	0.03%	1.73%
FCF Conversion (EBITDA)	-	12.76%	11.67%	-	-	-	0.32%	21.35%
FCF Conversion (Net income)	420.3%	54.23%	31.68%	92.61%	-	-	1.04%	61.5%
Dividend per Share ²	23.00	23.00	23.00	23.00	24.00	24.00	24.00	24.00
Announcement Date	19-11-14	20-11-13	21-11-12	22-11-14	23-11-14	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September	2020 S1	2020 S2	2021 S1	2021 Q4	2022 Q1	2022 Q2	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
Net sales ¹	58,375	56,650	53,675	27,748	29,477	25,412	54,889	29,642	30,726	32,748	30,523	63,271	35,723	34,868	33,301	28,724	62,025	36,630	36,530
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,914	1,498	1,854	168	1,496	921	2,417	1,170	665	1,092	605	1,697	1,186	902	1,738	1,057	2,795	1,250	1,410
Operating Margin	3.28%	2.64%	3.45%	0.61%	5.08%	3.62%	4.4%	3.95%	2.16%	3.33%	1.98%	2.68%	3.32%	2.59%	5.22%	3.68%	4.51%	3.41%	3.86%
Earnings before Tax (EBT)	2,189	1,512	2,121	-	1,892	-	3,018	1,377	-	1,312	-	1,992	1,688	-	1,691	-	2,371	-	-
Net income	1,282	1,058	1,345	-	1,240	-	2,032	925	-	746	-	1,190	1,134	-	1,285	-	1,644	-	-
Net margin	2.2%	1.87%	2.51%	-	4.21%	-	3.7%	3.12%	-	2.28%	-	1.88%	3.17%	-	3.86%	-	2.65%	-	-
EPS	21.86	-	22.88	-	21.09	-	34.52	15.72	-	12.70	-	20.24	19.30	-	21.86	-	27.94	-	-
Dividend per Share	11.50	11.50	11.50	-	-	-	11.50	-	-	-	-	11.50	-	-	-	-	12.00	-	-
Announcement Date	20-05-15	20-11-13	21-05-14	21-11-12	22-02-14	22-05-13	22-05-13	22-08-12	22-11-14	23-02-13	23-05-15	23-05-15	23-08-14	23-11-14	24-02-13	24-05-14	24-05-14	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	77,677	79,348	76,411	75,053	91,940	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	7.975 x	7.811 x	-	-	-	-	-
Free Cash Flow ¹	14,227	1,269	1,142	3,072	-15,107	-1,660	37	2,583
ROE (net income / shareholders' equity)	4.3%	3%	4.5%	4%	3.3%	3.5%	3.8%	4.5%
ROA (Net income/ Total Assets)	2.7%	2.06%	1.54%	2.8%	2.23%	1.5%	1.6%	1.9%
Assets ¹	125,282	113,549	233,724	118,515	126,872	206,667	221,875	221,053
Book Value Per Share ²	1,336	1,321	1,384	1,423	1,460	1,487	1,521	1,567
Cash Flow per Share	155.0	143.0	175.0	165.0	160.0	-	-	-
Capex ¹	13,197	15,581	13,982	7,218	12,428	10,000	10,000	8,000
Capex / Sales	9.43%	13.55%	12.62%	6.26%	9.28%	7.16%	6.9%	5.35%
Announcement Date	19-11-14	20-11-13	21-11-12	22-11-14	23-11-14	-	-	-

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 Yokorei Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1,031 JPY

Average target price

1,150 JPY

Spread / Average Target

+11.54%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

	1st Jan change	Capi.
YOKOREI CO.,LTD.	-1.72%	385M
NESTLÉ S.A.	-0.91%	276B
MONDELEZ INTERNATIONAL, INC.	-1.73%	96.47B
KRAFT HEINZ	-2.65%	43.8B
THE HERSHEY COMPANY	+11.05%	42.1B
DANONE	+2.15%	41.76B
GENERAL MILLS, INC.	+9.36%	40.31B
ARCHER-DANIELS-MIDLAND COMPANY	-14.68%	30.45B
NESTLÉ INDIA LIMITED	-8.06%	28.49B
ASSOCIATED BRITISH FOODS PLC	+15.34%	25.9B

Other Food Processing