Si è verificato un errore durante il caricamento della pagina.
Il nostro team è stato avvisato ma contattaci tramite il Widget assistenza email se il problema persiste.
Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 12,7x - 14,1x | 13,4x |
Selected Fwd EBIT Multiple | 10,4x - 11,5x | 11,0x |
Fair Value | €4,19 - €4,87 | €4,53 |
Upside | -25,2% - -13,1% | -19,2% |
Benchmarks | Ticker | Full Ticker |
Teijin Limited | 3401 | TSE:3401 |
Mitsubishi Gas Chemical Company, Inc. | 4182 | TSE:4182 |
Daicel Corporation | 4202 | TSE:4202 |
Shin-Etsu Chemical Co., Ltd. | 4063 | TSE:4063 |
Kemira Oyj | KEMIRA | HLSE:KEMIRA |
Toray Industries, Inc. | TOR1 | DB:TOR1 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
3401 | 4182 | 4202 | 4063 | KEMIRA | TOR1 | ||
TSE:3401 | TSE:4182 | TSE:4202 | TSE:4063 | HLSE:KEMIRA | DB:TOR1 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | 8.2% | 15.5% | 12.8% | 13.4% | 1.4% | |
3Y CAGR | NM- | -2.8% | 6.4% | 3.3% | 28.7% | 2.2% | |
Latest Twelve Months | -37.3% | -21.9% | -20.0% | 2.4% | 7.8% | 10.3% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 2.1% | 6.8% | 9.7% | 30.5% | 9.4% | 4.8% | |
Prior Fiscal Year | 1.3% | 5.8% | 11.2% | 29.0% | 9.9% | 4.1% | |
Latest Fiscal Year | -8.0% | 6.6% | 10.4% | 29.0% | 12.3% | 5.5% | |
Latest Twelve Months | 1.1% | 5.8% | 9.8% | 27.7% | 11.5% | NA | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.46x | 0.53x | 0.93x | 2.73x | 1.07x | 0.83x | |
EV / LTM EBITDA | 5.8x | 4.7x | 5.5x | 7.4x | 6.2x | 8.1x | |
EV / LTM EBIT | 42.5x | 9.2x | 9.6x | 9.9x | 9.3x | 16.0x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | 9.2x | 9.6x | 42.5x | ||||
Historical EV / LTM EBIT | 9.1x | 14.3x | 25.4x | ||||
Selected EV / LTM EBIT | 12.7x | 13.4x | 14.1x | ||||
(x) LTM EBIT | 130,244 | 130,244 | 130,244 | ||||
(=) Implied Enterprise Value | 1,658,893 | 1,746,203 | 1,833,513 | ||||
(-) Non-shareholder Claims * | (591,028) | (591,028) | (591,028) | ||||
(=) Equity Value | 1,067,865 | 1,155,175 | 1,242,485 | ||||
(/) Shares Outstanding | 1,521.0 | 1,521.0 | 1,521.0 | ||||
Implied Value Range | 702.10 | 759.50 | 816.91 | ||||
FX Rate: JPY/EUR | 172.8 | 172.8 | 172.8 | Market Price | |||
Implied Value Range (Trading Cur) | 4.06 | 4.40 | 4.73 | 5.60 | |||
Upside / (Downside) | -27.4% | -21.5% | -15.6% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | 3401 | 4182 | 4202 | 4063 | KEMIRA | TOR1 | |
Enterprise Value | 453,801 | 407,862 | 539,626 | 7,088,621 | 3,056 | 2,062,597 | |
(+) Cash & Short Term Investments | 215,598 | 76,940 | 68,824 | 1,472,758 | 377 | 228,608 | |
(+) Investments & Other | 73,254 | 233,398 | 60,568 | 325,861 | 252 | 199,676 | |
(-) Debt | (492,197) | (204,198) | (300,825) | (244,777) | (663) | (904,315) | |
(-) Other Liabilities | (4,244) | (30,248) | (15,443) | (168,073) | (17) | (114,997) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 246,212 | 483,754 | 352,750 | 8,474,390 | 3,004 | 1,471,569 | |
(/) Shares Outstanding | 192.7 | 194.7 | 265.1 | 1,872.8 | 153.8 | 1,521.0 | |
Implied Stock Price | 1,277.50 | 2,484.50 | 1,330.50 | 4,525.00 | 19.54 | 967.52 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 172.77 | |
Implied Stock Price (Trading Cur) | 1,277.50 | 2,484.50 | 1,330.50 | 4,525.00 | 19.54 | 5.60 | |
Trading Currency | JPY | JPY | JPY | JPY | EUR | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 172.77 |