Sayfa yüklenirken bir hata oluştu.
Teknik ekibimiz bilgilendirildi, ancak sorunun devam etmesi durumunda lütfen e-posta destek widget ile bize ulaşın.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 12,4x - 13,7x | 13,0x |
| Selected Fwd EBIT Multiple | 11,6x - 12,9x | 12,2x |
| Fair Value | €30,96 - €34,14 | €32,55 |
| Upside | 9,0% - 20,2% | 14,6% |
| Benchmarks | Ticker | Full Ticker |
| NOF Corporation | 4403 | TSE:4403 |
| Mitsubishi Gas Chemical Company, Inc. | 4182 | TSE:4182 |
| Nippon Kayaku Co., Ltd. | 4272 | TSE:4272 |
| Tokuyama Corporation | 4043 | TSE:4043 |
| Air Water Inc. | 4088 | TSE:4088 |
| Nissan Chemical Corporation | NSC | DB:NSC |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| 4403 | 4182 | 4272 | 4043 | 4088 | NSC | ||
| TSE:4403 | TSE:4182 | TSE:4272 | TSE:4043 | TSE:4088 | DB:NSC | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 11.0% | 8.2% | 3.1% | -2.7% | 7.2% | 8.0% | |
| 3Y CAGR | 8.4% | -2.8% | -1.0% | 6.9% | 2.7% | 3.7% | |
| Latest Twelve Months | 7.5% | 7.4% | 178.1% | 16.9% | 2.9% | 17.9% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 18.0% | 6.8% | 8.9% | 8.0% | 6.1% | 22.2% | |
| Prior Fiscal Year | 19.0% | 5.8% | 3.6% | 7.5% | 6.3% | 21.3% | |
| Latest Fiscal Year | 19.0% | 6.6% | 9.2% | 8.7% | 6.2% | 22.6% | |
| Latest Twelve Months | 19.0% | 6.6% | 9.2% | 8.7% | 6.2% | 22.6% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 2.36x | 0.54x | 0.67x | 0.68x | 0.71x | 2.63x | |
| EV / LTM EBITDA | 10.5x | 4.8x | 4.3x | 4.7x | 6.6x | 9.3x | |
| EV / LTM EBIT | 12.4x | 8.2x | 7.3x | 7.7x | 11.5x | 11.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 7.3x | 8.2x | 12.4x | ||||
| Historical EV / LTM EBIT | 11.6x | 16.5x | 19.7x | ||||
| Selected EV / LTM EBIT | 12.4x | 13.0x | 13.7x | ||||
| (x) LTM EBIT | 56,834 | 56,834 | 56,834 | ||||
| (=) Implied Enterprise Value | 704,592 | 741,676 | 778,760 | ||||
| (-) Non-shareholder Claims * | 17,914 | 17,914 | 17,914 | ||||
| (=) Equity Value | 722,506 | 759,590 | 796,674 | ||||
| (/) Shares Outstanding | 135.6 | 135.6 | 135.6 | ||||
| Implied Value Range | 5,328.34 | 5,601.83 | 5,875.31 | ||||
| FX Rate: JPY/EUR | 173.4 | 173.4 | 173.4 | Market Price | |||
| Implied Value Range (Trading Cur) | 30.73 | 32.31 | 33.89 | 28.40 | |||
| Upside / (Downside) | 8.2% | 13.8% | 19.3% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 4403 | 4182 | 4272 | 4043 | 4088 | NSC | |
| Enterprise Value | 565,693 | 416,069 | 147,878 | 233,720 | 761,279 | 649,774 | |
| (+) Cash & Short Term Investments | 87,064 | 68,246 | 59,762 | 75,544 | 70,609 | 27,454 | |
| (+) Investments & Other | 56,978 | 255,226 | 50,931 | 51,856 | 141,734 | 33,823 | |
| (-) Debt | (5,041) | (202,976) | (42,096) | (110,689) | (441,623) | (40,474) | |
| (-) Other Liabilities | (1,022) | (29,153) | (992) | (12,295) | (19,719) | (2,889) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 703,672 | 507,412 | 215,483 | 238,136 | 512,280 | 667,688 | |
| (/) Shares Outstanding | 231.5 | 194.7 | 155.8 | 71.9 | 229.2 | 135.6 | |
| Implied Stock Price | 3,040.00 | 2,606.00 | 1,383.50 | 3,310.00 | 2,235.50 | 4,924.07 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 173.38 | |
| Implied Stock Price (Trading Cur) | 3,040.00 | 2,606.00 | 1,383.50 | 3,310.00 | 2,235.50 | 28.40 | |
| Trading Currency | JPY | JPY | JPY | JPY | JPY | EUR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 173.38 | |