TSE: 1944 - Kinden Corporation

Yield per half year: +1.31%
Dividend yield: +2.66%
Sector: Industrials

Reporting Kinden Corporation

Capitalization

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Капитализация, млрд ¥							406.61
Выручка, млрд ¥	521.28	585.91	556.27	566.79	609.13	654.52	654.52	594.52	2.24
Чистая прибыль, млрд ¥	28.84	32.5	32.36	26.37	28.72	33.55	33.55	30.70	0.64
EV, млрд ¥	373.17	307.83	366.73	296.43	292.31	518.45	518.45	356.35	10.99
EBIT, млрд ¥	42.24	45.03	42.95	37.09	37.43	49.2	49.2	42.34	1.79
EBITDA, млрд ¥	47.57	52.39	51.14	43.77	44.24	55.93	55.93	49.49	1.32
Баланс стоимость, млрд ¥	449.11	462.93	492.05	510.98	531.9	573.3	573.3	514.23	4.37
FCF, млрд ¥	23.93	43.74	43.34	27.53	1.44	11	11	25.41	-24.12
Операционный денежный поток, млрд ¥	23.93	46.73	43.34	32.95	30.15	38.52	38.52	38.34	-3.79
Операционная прибыль, млрд ¥	40.36	45.03	42.95	37.09	37.43	42.68	42.68	41.04	-1.07
Операционные расходы, млрд ¥	51.83	56.29	56.28	60.06	61.6	64.9	64.9	59.83	2.89
CAPEX, млрд ¥	3.78	2.99	4.69	5.43	28.71	27.52	27.52	13.87	55.88

	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
Выручка, млрд ¥		115.45	142.66	144.57	32 368.89	112.8	157.87	156.44	227.4	133.24	164.8	167.95	0.86
Чистая прибыль, млрд ¥		0.608	4.88	5.55	2 772.99	1.13	6.37	10.09	15.97	2.24	7.58	8.45	3.54
EV, млрд ¥		290.65	286.31	269.88	45 818.86	363.56	405.97	435.38	390.66	615.83	587.73	487.11	7.68
EBIT, млрд ¥		0.354	6.25	6.97	3 741.27	0.828	9.35	12.94	21.11	1.96	11.04	11.28	3.38
EBITDA, млрд ¥		2.04	6.73	7.51	3 800.06	2.57	10.94	14.85	22.6	3.65	12.69	12.95	3.01
Баланс стоимость, млрд ¥		508.23	513.31	516.57	83 391.29	535.21	543.69	547.71	573.3	564.88	568.53	559.62	0.90
FCF, млрд ¥					483.83	3.47	3.18	3.82				123.58	-70.19
Операционный денежный поток, млрд ¥	32.95		2.44		483.83	3.47	3.18	3.82				99.35	9.38
Операционная прибыль, млрд ¥		0.354	6.25	6.97	3 741.27	0.869	8.27	11.49	22.06	1.96	10.91	10.94	5.70
Операционные расходы, млрд ¥		15.63	14.35	14.73	2 647.56	15.91	15.07	15.41	18.51	17.39	16.17	16.51	1.42
CAPEX, млрд ¥	5.43		24.53		4 501.19							1510.38	839.38

	5 quarters average	CAGR 5

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Наличность, млрд ¥	40.26	50.79	42.42	46.29	45.36	53.01	53.01	47.57	0.86
Short Term Investments ¥	110	107	136.41	152.6	152.7	147.91	147.91	139.32	6.69
Total Receivables ¥	220.12	230.64	228.98	206.02	230.38	248.76	248.76	228.96	1.52
Total Current Assets ¥	395.5	416.8	434.23	442.83	477.56	482.22	482.22	450.73	2.96
Чистые активы, млрд ¥	395.5	416.8	434.23	99.56	123.84		123.84	293.99	-20.72
Активы, млрд ¥	634.06	654.28	683.02	700.26	742.84	815.89	815.89	719.26	4.51
Short Term Debt ¥	15.54	15.82	16.59	-9.46	15.07	15.02	15.02	10.61	-1.03
Long Term Debt ¥	0.143	0.197	0.221	0.052	0.214		0.214	0.1654	8.40
Задолженность, млрд ¥	183.8	190.05	189.82	188.42	210.13	241.84	241.84	204.05	4.94
Чистый долг, млрд ¥	-24.72	-34.95	-25.77	-30.25	-30.27	-37.99	-37.99	-31.8460	1.68
Долг, млрд ¥	15.54	15.84	16.65	16.04	15.28	15.02	15.02	15.77	-1.06
Расходы на обслуживание долга ¥	0.236	0.244	0.184	0.158	0.162	0.135	0.135	0.1766	-11.16
Чист. проц. доходы, млрд ¥	0.317	0.257	0.248	3.46	0.231	0.394	0.231	0.9180	8.92
Амортизация, млрд ¥	5.32	7.36	8.19	6.68	6.8	6.73	6.73	7.15	-1.77
Себестоимость, млрд ¥		484.59	457.04	469.65	510.11	546.94	546.94	493.67	2.45
Товарно материальные запасы ¥	18.23	19.58	20.45	21.83	21.4	21.28	21.28	20.91	1.68

	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
Наличность, млрд ¥		46.81	42.77	40.86	7 111.75	47.51	51.13	62.92	180.52	54.01	58.44	81.40	2.71
Short Term Investments ¥		139.9	133.61	121.31	23 940.8	131.6	144.3	127.6	20.4	145.2	152.3	117.96	1.08
Total Receivables ¥		179.46	193.77	210.78	39 654.67	182.39	190.22	205.45	248.76	184.38	184.65	202.69	-0.59
Total Current Assets ¥		398.44	409.43	415.21	74 871.95	412.62	439.91	456.55	482.22	425.1	459.47	452.65	0.87
Чистые активы, млрд ¥	442.83	398.44	409.43	415.21	19 416.25	123.48						4152.56	-20.89
Активы, млрд ¥		658.91	675.07	684.35	116 463.5	701.42	726.95	743.6	815.89	760.13	769.94	763.30	1.16
Short Term Debt ¥		16.26	15.06	16.21	2 362.69	15.82	14.37	15.77	-10.93	15.81	14.46	9.90	0.12
Long Term Debt ¥	0.052	0.045	0.039	0.032	33.55	0.019	0.012	0.005				6.72	-31.01
Задолженность, млрд ¥		149.81	160.9	166.89	32 944.27	165.44	182.48	195.1	241.83	194.55	200.71	202.93	1.92
Чистый долг, млрд ¥		-30.5	-27.67	-24.62	-4 745.14	-31.67	-36.75	-47.15	-165.23	-38.2	-43.98	-66.2620	3.66
Долг, млрд ¥		16.31	15.1	16.24	2 366.61	15.84	14.38	15.78	15.29	15.81	14.46	15.14	0.11
Расходы на обслуживание долга ¥		0.031	0.067	0.013	8	0.042	0.048	0.032	0.013	0.041	0.037	0.0342	-5.07
Чист. проц. доходы, млрд ¥	1.08	0.056	0.051	0.062	9.72	249.44	13.01	15.99	0.132			57.66	-57.68
Амортизация, млрд ¥		1.68	0.483	0.542	58.79	1.74	1.59	1.91	1.5	1.68	1.65	1.67	0.74
Себестоимость, млрд ¥						96.02	134.53	129.55	186.84	113.89	137.72	140.51	0.47
Товарно материальные запасы ¥		27.5	32.33	35.86	3 354.49	29.09	30.7	35.93	21.28	26.43	29.89	28.85	-0.53

	5 quarters average	CAGR 5

Share

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	132.95	150.19	156.46	128.65	140.15	165.34		165.34	148.16	1.94
Цена акции ао				1438	2396	3036	3328	3328	2549.50	23.34
Число акций ао, млн	216.95	216.4	206.8	204.95	204.94	202.93		202.93	207.20	-1.28
FCF/акцию	110.31	202.13	209.57	134.31	7.04	54.2		54.2	121.45	-23.14

	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
EPS	2.97	23.81	27.07	13533.35	5.51	31.34	49.81	78.76	11.14	37.79	41.77	3.81
FCF/акцию				15.06	17.02	15.62	18.84				16.63	5.76

	5 quarters average	CAGR 5

Efficiency

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %	6.55	7.13	6.78	5.26	5.51	6.07		6.07	10.48	6.15	-3.17
ROA, %	4.65	5.05	4.84	3.81	3.98	4.31		4.31	5.54	4.40	-3.12
ROIC, %		8.23	7.83	6.48	6.79			6.79	9.78	7.33	-4.69
ROS, %		5.55	5.82	4.65	4.72	5.13	5.13	5.13	6.74	5.09	-2.49
ROCE, %	8.8	9.29	8.25	6.86	6.67	8.06	8.57	8.57	14.18	7.68	0.76
Ebit margin, %		7.69	7.72	6.54	6.14	7.52	7.52	7.52		7.09	-0.52
Рентаб EBITDA, %	9.12	8.94	9.19	7.72	7.26	8.55	8.55	8.55	14.01	8.25	-1.43
Чистая рентаб, %	5.53	5.55	5.82	4.65	4.72	5.13		5.13	6.74	5.17	-1.56
Operation Margin, %		7.68	7.72	6.54	6.14	6.52	6.52	6.52	8.88	6.69	-3.32

	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	Industry average	5 quarters average	CAGR 5
ROE, %	0.1212	0.9647	1.09	3.44	0.2102	1.21	1.88	2.93	0.404	1.35	10.48	1.55	2.21
ROA, %	0.0895	0.7315	0.8162	2.48	0.1604	0.8922	1.37	2.05	0.2839	0.9905	5.54	1.12	2.11
ROS, %					0.9974	4.04	6.45	7.02	1.68	4.6	6.74	4.76	2.63
ROCE, %	0.0664	1.16	1.29	4.37	0.1545	1.66	2.26	3.61	0.3315	1.84	14.18	1.94	2.08
Ebit margin, %						5.92	8.27	9.28	1.47	6.7		6.33	2.51
Рентаб EBITDA, %	1.76	4.72	5.19	11.74	2.27	6.93	9.49	9.94	2.74	7.7	14.01	7.36	2.13
Чистая рентаб, %	0.53	3.42	3.84	8.57	0.9974	4.04	6.45	7.02	1.68	4.6	6.74	4.76	2.63
Operation Margin, %					0.7704	5.24	7.34	9.7	1.47	6.62	8.88	6.07	4.79

	Industry average	5 quarters average	CAGR 5

Coefficients

IFRS

Reporting Annual Quarterly

	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E	13.79	10.55	12.13	12.39	11.23	16.58		16.58	82.92	12.58	9.46
P/BV	0.8837	0.7384	0.7958	0.6383	0.6055	0.9693		0.9693	68.04	0.7495	5.59
P/S	0.7633	0.585	0.7056	0.5764	0.5296	0.8502		0.8502	67.55	0.6494	7.76
P/FCF					13.49	36.97	36.97	36.97	72.83	29.14	39.94
E/P					0.0706	0.0825	0.0825	0.0825	0.32	0.0785	5.33
EV/EBITDA	7.85	5.88	7.17	6.77	6.61	9.27		9.27	76.41	7.14	9.53
EV/EBIT		6.84	8.54	7.99	7.81	10.54	10.54	10.54		9.08	4.30
EV/S		0.5254	0.6593	0.523	0.4799	0.7921	0.7921	0.7921	67.57	0.6493	3.74
EV/FCF		7.65	9.49	10.77	202.57	47.14	47.14	47.14	28.85	63.42	37.79
Debt/EBITDA	0.3267	0.3024	0.3256	0.3664	0.3455	0.2685	0.2685	0.2685	2.58	0.3149	-3.78
Netdebt/Ebitda		-0.6671	-0.504	-0.691	-0.6842	-0.6793	-0.6793	-0.6793	0.08	-0.6476	6.15
Debt/Ratio		0.0245	0.0246	0.0229	0.0206	0.0184	0.0184	0.0184	0.16	0.0210	-5.64
Debt/Equity		0.0346	0.0342	0.0314	0.0287	0.0262	0.1213	0.1213	33.09	0.0484	28.82
Debt/Net Income		0.4927	0.5195	0.6084	0.5321	0.4476	0.4476	0.4476	5.12	0.5110	-2.94
Бета					2.47	-0.326	-1.66	-1.66	-62.67	0.1613	-187.59
Индекс Альтмана					-0.7103	-0.286	-0.2939	-0.2939	8.11	-0.4301	-25.48

	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2025Q1	Industry average	5 quarters average	CAGR 5
P/E	13.03	13.47	12.99	11.23	13.57	14.49	13.77	16.58	19.04	17.75		82.92	16.33	4.14
P/BV	0.6308	0.6106	0.5691	0.6054	0.7374	0.8131	0.8797	0.9684	1.16	1.11		68.04	0.9862	6.42
P/S	0.5586	0.5406	0.4956	0.5296	0.6537	0.7158	0.7663	0.8507	0.9769	0.9321		67.55	0.8484	5.42
EV/EBITDA	7.52	7.9	7.83	7.21	141.74	7.75	7.65	7.44	11.83	10.93		76.41	9.12	7.12
EV/EBIT						43.42	33.65	18.51	313.56	53.24			92.48	4.16
EV/S					3.22	2.57	2.78	1.72	4.62	3.57		67.57	3.05	6.79
EV/FCF					104.65	127.83	114.09					28.85	115.52	2.92
Debt/EBITDA	8.01	2.24	2.16	0.6228	6.18	1.31	1.06	0.6763	4.33	1.14		2.58	1.70	-2.74
Netdebt/Ebitda					-12.35	-3.36	-3.18	-7.31	-10.48	-3.46		0.08	-5.5580	0.59
Debt/Ratio					0.0226	0.0198	0.0212	0.0187	0.0208	0.0188		0.16	0.0199	-1.03
Debt/Equity					0.0296	0.0265	0.0288	0.0267	0.028	0.0254		33.09	0.0271	-0.84
Debt/Net Income					14.08	2.26	1.56	0.9574	7.07	1.91		5.12	2.75	-3.31
Бета											-1.66	-62.67	-1.6600	0.00
Индекс Альтмана											-0.2939	8.11	-0.2939	0.00

	Industry average	5 quarters average	CAGR 5

Dividends

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд			6.29	6.73	6.9	7.48	7.79	8.46		8.46		7.47	4.68
Дивиденд	26	27	29	17	33	17.5	38	41.5	48	48		35.60	7.78
Див доход, ао, %	1.79	1.42	1.48	1.04	2	1.02	3.63	2.76	2.16	2.66	4.16	2.31	1.55
Дивиденды / прибыль, %				21.81	20.69	21.31	28.37	27.12	25.21	25.21	37.26	24.54	4.03

	2022Q1	2022Q3	2023Q1	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд	7.48	4	1221.01		410.83	446.52
Дивиденды / прибыль, %	64.26	81.9	44.03	37.26	63.40	-11.84

	Industry average	5 quarters average	CAGR 5

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Other

IFRS

Reporting Annual

	2023	2024	CAGR 5
Персонал, чел	12704	12704	0.00

	CAGR 5

	CAGR 5