TSE: 4324 - Dentsu Group Inc.

Yield per half year: -36.4%
Dividend yield: +5.23%
Sector: Communication Services

Reporting Dentsu Group Inc.

Capitalization

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Капитализация, млрд ¥								1 230
Выручка, млрд ¥	1 018.51	1 047.88	939.24	1 085.59	1 243.88	1 304.55	1 410.96	1 410.96	1196.84	8.48
Чистая прибыль, млрд ¥	90.32	-72.91	-152.3	108.39	59.85	-10.71	-192.17	-192.17	-37.3880	4.76
EV, млрд ¥	1 504.9	1 270.47	910.5	1 003.52	1 065.11	1 275.69	1 172.57	1 172.57	1085.48	5.19
EBIT, млрд ¥	166.12	97.33	103.04	150.95	167.73	60.78	120.97	120.97	120.69	3.26
EBITDA, млрд ¥	225.86	187.3	189.01	225.82	241.9	139.5	202.42	202.42	199.73	1.38
Баланс стоимость, млрд ¥	1 047.62	974.98	756.87	845.03	880.27	841.65	696.84	696.84	804.13	-1.64
FCF, млрд ¥	101.42	47.71	66.84	118.68	62.37	46.38	34.3	34.3	65.71	-12.49
Операционный денежный поток, млрд ¥	133.05	79.96	88.31	139.72	80.9	75.27	59.98	59.98	88.84	-7.45
Операционная прибыль, млрд ¥	111.64	97.33	103.04	150.95	194.43	128.73	-124.99	-124.99	90.43	-203.94
Операционные расходы, млрд ¥	821.04	849.39	752.55	832.83	946.3	1 099.51	1 326.64	1 326.64	991.57	12.01
CAPEX, млрд ¥	31.63	32.24	21.47	21.04	18.53	28.89	25.68	25.68	23.12	3.65

	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	5 quarters average	CAGR 5
Выручка, млрд ¥	309.08	358.77	305.25	297.52	331.53	369.7	332.91	348.03	345.21	384.82	356.13	0.80
Чистая прибыль, млрд ¥	15.93	2.6	11.88	3.44	6.67	-32.71	5.55	0.009	-4.05	-193.68	-44.9762	42.72
EV, млрд ¥	1 232.93	1 053.03	1 340.34	1 348.66	1 488.5	1 310.88	1 454.42	1 309.37	1 467.6	1 164.71	1341.40	-2.34
EBIT, млрд ¥	37.15	67.35	35.86	27.43	29.38	53.8	24.64	14.21	3.2	70.76	33.32	5.63
EBITDA, млрд ¥	55.92	85.86	53.11	47.53	50.24	74.31	44.59	35.03	22.6	92.04	53.71	4.37
Баланс стоимость, млрд ¥	913.35	880.27	874.59	919.89	900.34	841.65	878.84	904.61	841.26	696.84	832.64	-3.71
FCF, млрд ¥	-123.32	219.28	-128.76	164.17	-149.19	170.42	-158.28	74.17	-33.83	152.24	40.94	-2.23
Операционный денежный поток, млрд ¥	-123.32	219.28	-128.76	175.81	-149.19	177.41	-152.34	80.78	-29.38	160.93	47.48	-1.93
Операционная прибыль, млрд ¥	37.15	67.35	25.78	-4.32	26.9	56.53	21.63	24.29	-17.02	-153.89	-13.6920	-222.18
Операционные расходы, млрд ¥	244.04	258.08	240.01	248.76	252.04	275.05	267.32	268.35	301.48	489.48	320.34	12.22
CAPEX, млрд ¥	4.49	18.53	3.08	11.64	7.19	6.99	5.94	6.62	4.44	8.69	6.54	4.45

	5 quarters average	CAGR 5

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Наличность, млрд ¥	416.67	414.06	530.69	723.54	603.74	390.68	371.99	371.99	524.13	-6.86
Short Term Investments ¥	15.09	15.86	12.16	19.46	18.73	23.14	25.2	25.2	19.74	15.69
Total Receivables ¥	1 368.73	1 424.79	1 293.37	1 513.08	1 636.13	1 576.48	1 678.15	1 678.15	1539.44	5.35
Total Current Assets ¥	1 935.59	1 933.69	1 924.82	2 343.12	2 317.5	2 139.56	2 177.36	2 177.36	2180.47	2.50
Чистые активы, млрд ¥	1 935.59	1 933.69	1 924.82	2 343.12	168.86	2 317.5		168.86	1737.60	3.69
Активы, млрд ¥	3 638.49	3 795.73	3 380.41	3 720.54	3 741.43	3 634.4	3 507.26	3 507.26	3596.81	0.74
Short Term Debt ¥	104.88	184.82	72.53	93.07	95.79	109.94	173.65	173.65	109.00	19.08
Long Term Debt ¥	433.98	534.83	592.4	644.28	627.32	455.23	373.63	373.63	538.57	-8.81
Задолженность, млрд ¥	2 527.74	2 743.2	2 560.06	2 811.06	2 786.1	2 721.65	2 738.23	2 738.23	2723.42	1.35
Чистый долг, млрд ¥	122.19	209.87	54.12	-144.35	-71.31	322.79	175.28	175.28	67.31	26.50
Долг, млрд ¥	538.86	623.93	584.81	579.19	723.11	713.46	547.27	547.27	629.57	-1.32
Расходы на обслуживание долга ¥	24.55	48.92	20.29	40.24	39.95	38.01	31.09	31.09	33.92	8.91
Чист. проц. доходы, млрд ¥	6.84	6.82	18.87	4.75	19.7	19.92		19.92	14.01	23.91
Амортизация, млрд ¥	59.74	89.97	85.97	74.88	74.17	78.72	81.45	81.45	79.04	-1.07
Себестоимость, млрд ¥		108.5	104.2	109.01	126.88	159.73	209.31	209.31	141.83	14.97
Товарно материальные запасы ¥	28.58	21.01	23.85	20.66	3.67	6.4	6.1	6.1	12.14	-23.87

	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	5 quarters average	CAGR 5
Наличность, млрд ¥				474.21	603.74	428.83	430.69	300.84	390.68	275.13	299.53	242.98	371.99	316.06	-0.98
Short Term Investments ¥			21.05	23.45	18.73	19.96	27.34	36.91	23.14	23.24	31.42			28.41	2.82
Total Receivables ¥				1 608.99	1 636.13	1 561.7	1 473.4	1 466.05	1 524.29	1 550.6	1 586.68	1 505.49	1 678.15	1569.04	1.94
Total Current Assets ¥				2 177.08	2 317.5	2 078.73	2 007.99	1 985.14	2 139.56	2 072.77	2 140.61	1 895.1	2 177.36	2085.08	0.35
Чистые активы, млрд ¥	2 343.12	2 182.99	2 231.51	2 177.08	2 317.5	170.06	178.78							1414.99	-39.64
Активы, млрд ¥				3 709.59	3 741.43	3 527.08	3 611.78	3 594.49	3 634.4	3 624.71	3 745.39	3 388.49	3 507.26	3580.05	-0.71
Short Term Debt ¥				134.17	95.79	238.14	231.94	260.92	109.94	122.72	74.41	175.03	173.65	131.15	9.57
Long Term Debt ¥			480.09	488.39	627.32	294.02	235.52	305.92	455.23	450.11	484.2			386.20	15.50
Задолженность, млрд ¥				2 714.25	2 786.1	2 577.02	2 614.14	2 617.53	2 721.64	2 670.8	2 767.78	2 478.67	2 738.23	2675.42	0.12
Чистый долг, млрд ¥				148.35	-71.31	103.33	36.77	265.99	322.79	297.71	259.08	323.67	175.28	275.71	-11.50
Долг, млрд ¥				622.56	532.43	532.16	467.45	566.83	713.46	572.84	558.61	566.65	547.27	591.77	-5.17
Расходы на обслуживание долга ¥		9.98	8.1	11.94	11.17	8.68	9.42	8.1	12.14	6.93	12.19			9.76	5.29
Чист. проц. доходы, млрд ¥		4.31	11.23	5.14	0.262	0.562	14.68	2.72	2.54	9.43	3.26			6.53	-25.99
Амортизация, млрд ¥				18.77	18.51	17.25	20.09	20.86	20.52	19.96	20.82	19.4	21.28	20.40	0.73
Себестоимость, млрд ¥							35.82	50.21	38.12	43.96	55.39	60.74	49.23	49.49	5.25
Товарно материальные запасы ¥				10.73	3.67	4.16	6.99	6.95	6.4	13.07	16.06	11.29	6.1	10.58	-0.96

	5 quarters average	CAGR 5

Share

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	320.39	-259.49	-545.06	387.15	218.29	-40.52	-734.56		-734.56	-142.9400	6.15
Цена акции ао					4145	3618	3812	3375	3375	3737.50	-5.01
Число акций ао, млн	281.9	280.95	279.41	279.97	274.17	264.4	261.62		261.62	271.91	-1.31
FCF/акцию	359.77	169.82	239.22	423.9	227.49	175.4	131.11		131.11	239.42	-11.33

	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	5 quarters average	CAGR 5
EPS	59.64	9.65	44.65	12.55	24.33	-119.29	20.26	0.0342	-15.62	-746.2		-172.1632	44.29
Цена акции ао											3375	3375.00	0.00
FCF/акцию	-461.64	813.27	-484.01	598.81	-544.17	621.6	-577.3	281.82	-130.32	586.54		156.47	-1.15

	5 quarters average	CAGR 5

Efficiency

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %	8.44	-7.21	-17.59	13.53	6.94	-1.24	-24.98		-24.98	12.05	-4.6680	7.27
ROA, %	2.51	-1.96	-4.24	3.05	1.6	-0.2905	-5.38		-5.38	7.02	-1.0521	4.88
ROIC, %		-2.74	-9.24	9.19	6.43	1.52				13.32	1.03	-188.88
ROS, %		-6.96	-16.21	9.98	4.81	-0.8213	-13.62	-13.62	-13.62	9.28	-2.6543	-206.42
ROCE, %	8.97	5.03	6.36	8.63	9.73	3.59	8.4	15.73	15.73	17.21	9.22	12.76
Ebit margin, %		8.85	-13.12	20.62	13.48	4.66	8.57	8.57	8.57		11.18	-16.10
Рентаб EBITDA, %	22.18	17.87	20.12	20.8	19.45	10.69	14.35	14.35	14.35	19.38	15.93	-7.16
Чистая рентаб, %	8.87	-6.96	-16.21	9.98	4.81	-0.8213	-13.62		-13.62	9.28	-3.1723	-3.42
Operation Margin, %		9.29	10.97	13.9	15.63	9.87	-8.86	-8.86	-8.86	13.45	4.34	-191.39

	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q2	Industry average	5 quarters average	CAGR 5
ROE, %	1.82	0.2931	1.33	0.3845	0.7449	-3.68	0.6278	0.001	-0.4639	-22.83		12.05	-5.2690	44.06
ROA, %	0.4284	0.0698	0.3268	0.0964	0.1851	-0.9048	0.153	0.000244	-0.1137	-5.62		7.02	-1.2971	44.09
ROIC, %					1.87		1.49		1			13.32	1.45	-18.83
ROS, %				1.16	2.01	-8.85	1.67	0.0026	-1.17	-50.33	-13.62	9.28	-12.6895	-252.16
ROCE, %		3.75	2.05	1.63	1.81	3.33	1.49	0.8278	0.1875	4.31	15.73	17.21	4.51	60.22
Ebit margin, %				9.22	8.86	14.55	7.4	4.08	0.9273	18.39	8.57		7.87	2.98
Рентаб EBITDA, %		23.93	17.4	15.97	15.15	20.1	13.39	10.06	6.55	23.92	14.35	19.38	13.65	1.39
Чистая рентаб, %	5.15	0.72	3.89	1.16	2.01	-8.85	1.67	0.0026	-1.17	-50.33		9.28	-11.7355	41.57
Operation Margin, %				-1.45	8.11	15.29	6.5	6.98	-4.93	-39.99	-8.86	13.45	-8.0600	-206.39

	Industry average	5 quarters average	CAGR 5

Coefficients

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E	15.31			10.59	18.99	19.28			18.79	602.68	16.04	5.93
P/BV	1.24	1.01	1.04	1.26	1.19	1.04	1.3		1.3	579.40	1.17	4.56
P/S	1.36	1.01	0.9118	1.06	0.9136	0.7304	0.7068		0.7068	579.12	0.8645	-4.97
P/FCF						19.72	26.52	35.86	35.86	28.66	27.37	22.06
E/P						0.0487	-0.0087	-0.1562	-0.1562	0.04	-0.0387	-247.47
EV/EBIT		13.7	-7.39	4.48	6.35	20.99	9.69	9.69	9.69		10.24	16.68
EV/EBITDA	6.66	6.78	4.82	4.44	4.4	9.14	5.79		5.79	585.79	5.72	3.74
EV/S		1.21	0.9694	0.9244	0.8563	0.9779	0.831	0.831	0.831	579.01	0.8841	-2.11
EV/FCF		26.63	13.62	8.46	17.08	27.51	34.19	34.19	34.19	586.75	24.29	32.22
Debt/EBITDA	2.39	3.33	3.09	2.56	2.99	5.11	2.7	2.7	2.7	1.72	3.21	1.07
Netdebt/Ebitda		1.12	0.2863	-0.6392	-0.2948	2.31	0.8659	0.8659	0.8659	0.05	0.6216	-206.26
Debt/Ratio		0.1896	0.1967	0.1982	0.1933	0.1963	0.156	0.156	0.156	0.14	0.1800	-4.68
Debt/Equity		0.7381	0.8785	0.8726	0.8215	0.8477	0.7854	3.56	3.56	1.07	1.38	32.47
Debt/Net Income		-9.87	-4.37	6.8	12.08	-66.59	-2.85	-2.85	-2.85	-4.78	-10.6820	-184.04
PEG								-0.0049	-0.0049		-0.0049	0.00
Бета						-2.11	-1.92	2.17	2.17	-128.84	-0.6200	-200.94
Индекс Альтмана						-0.4722	1.24	1.29	1.29	2.60	0.6859	-239.79

	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
P/E	10.57	10.44	9.54	16.16	17.62	25.5	38.75	49.71		-67.89	-53.45					602.68	-1.4760	-215.95
P/BV				1.09	1.18	1.3	1.31	1.25	1.08	1.21	1.07	1.26	1.29			579.40	1.18	3.62
P/S				0.924	0.9076	0.9899	1.03	0.9454	0.7578	0.8686	0.7834	0.8451	0.7126			579.12	0.7935	-1.22
P/FCF															35.86	28.66	35.86	0.00
E/P															-0.1562	0.04	-0.1562	0.00
EV/EBIT							49.16	50.66	24.37	59.03	92.17	458.48	16.46		9.69		127.17	-30.33
EV/EBITDA				5.33	3.89	5.33	5.56	8.73	6.48	7.19	6.41	8.31	6			585.79	6.88	-1.53
EV/S							4.53	4.49	3.55	4.37	3.76	4.25	3.03		0.831	579.01	3.25	-28.25
EV/FCF							8.21	-9.98	7.69	-9.19	17.65	-43.39	7.65		34.19	586.75	1.38	-230.05
Debt/EBITDA					6.2	10.02	9.84	11.28	9.6	12.85	15.95	25.08	5.95		2.7	1.72	12.51	-26.80
Netdebt/Ebitda							0.7736	5.29	4.34	6.68	7.4	14.32	1.9		0.8659	0.05	6.23	-33.54
Debt/Ratio							0.1294	0.1577	0.1963	0.158	0.1491	0.1672	0.156		0.156	0.14	0.1573	-0.25
Debt/Equity							0.5082	0.6296	0.8477	0.6518	0.6175	0.6736	0.7854		3.56	1.07	1.26	40.43
Debt/Net Income							135.81	84.98	-21.82	103.14	62067.22	-139.78	-2.83		-2.85	-4.78	12404.98	-148.78
PEG															-0.0049		-0.0049	0.00
Бета														1.87	2.17	-128.84	2.02	7.72
Индекс Альтмана														1.14	1.29	2.60	1.21	6.38

Dividends

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд		25.37	26.08	26.51	20.89	37.04	43.23	34.32			46.2		32.40	5.30
Дивиденд	85	90	90	95	71.25	117.5	155.25	139.5	139.5		139.5		124.60	14.38
Див доход, ао, %	1.5	1.76	1.78	2.33	2.69	1.35	5.36	6.21	5.26		5.23	2.68	4.17	14.35
Дивиденды / прибыль, %			28.09	-36.36	-13.72	19.27	61.88	-320.36			184.55	41.50	-57.8580	54.53
Dividend Coverage Ratio										-4.16	-4.16		-4.1600	0.00

	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q3	2024Q1	2024Q3	2025Q2	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд	18.33	18.33	9.17	18.7	37.04	22.47	20.76	16.13	18.19			22.92	-13.26
Дивиденды / прибыль, %	275.97	67.29	49.34	117.39	1423.88	189.18	311.21	290.4	-448.79		41.50	353.18	-179.38
Dividend Coverage Ratio										-4.16		-4.1600	0.00

	Industry average	5 quarters average	CAGR 5

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Other

IFRS

Reporting Annual

	2023	CAGR 5
Персонал, чел	69066	0.00

	CAGR 5

	CAGR 5