View Future GrowthWatts 과거 순이익 실적과거 기준 점검 1/6Watts의 수입은 연평균 -1.7%의 비율로 감소해 온 반면, Multiline Retail 산업은 수입이 연평균 9.8% 증가했습니다. 매출은 연평균 3.9%의 비율로 증가해 왔습니다. Watts의 자기자본이익률은 6.2%이고 순이익률은 1.3%입니다.핵심 정보-1.66%순이익 성장률-1.12%주당순이익(EPS) 성장률Multiline Retail 산업 성장률9.72%매출 성장률3.94%자기자본이익률6.18%순이익률1.33%다음 순이익 업데이트09 Jul 2026최근 과거 실적 업데이트Reported Earnings • Apr 11Second quarter 2026 earnings released: EPS: JP¥22.68 (vs JP¥26.15 in 2Q 2025)Second quarter 2026 results: EPS: JP¥22.68 (down from JP¥26.15 in 2Q 2025). Revenue: JP¥15.9b (up 2.9% from 2Q 2025). Net income: JP¥301.0m (down 13% from 2Q 2025). Profit margin: 1.9% (down from 2.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.8% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Reported Earnings • Jan 10First quarter 2026 earnings released: EPS: JP¥14.66 (vs JP¥14.51 in 1Q 2025)First quarter 2026 results: EPS: JP¥14.66 (up from JP¥14.51 in 1Q 2025). Revenue: JP¥15.4b (up 2.4% from 1Q 2025). Net income: JP¥194.0m (up 1.6% from 1Q 2025). Profit margin: 1.3% (in line with 1Q 2025). Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.공시 • Nov 22+ 2 more updatesWatts Co., Ltd. to Report Q1, 2026 Results on Jan 09, 2026Watts Co., Ltd. announced that they will report Q1, 2026 results on Jan 09, 2026분석 기사 • Oct 17Watts' (TSE:2735) Anemic Earnings Might Be Worse Than You ThinkA lackluster earnings announcement from Watts Co., Ltd. ( TSE:2735 ) last week didn't sink the stock price. We think...Reported Earnings • Oct 11Full year 2025 earnings released: EPS: JP¥65.95 (vs JP¥68.44 in FY 2024)Full year 2025 results: EPS: JP¥65.95 (down from JP¥68.44 in FY 2024). Revenue: JP¥61.6b (flat on FY 2024). Net income: JP¥870.0m (down 3.8% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.공시 • Aug 01Watts Co., Ltd. to Report Fiscal Year 2025 Results on Oct 10, 2025Watts Co., Ltd. announced that they will report fiscal year 2025 results on Oct 10, 2025모든 업데이트 보기Recent updatesReported Earnings • Apr 11Second quarter 2026 earnings released: EPS: JP¥22.68 (vs JP¥26.15 in 2Q 2025)Second quarter 2026 results: EPS: JP¥22.68 (down from JP¥26.15 in 2Q 2025). Revenue: JP¥15.9b (up 2.9% from 2Q 2025). Net income: JP¥301.0m (down 13% from 2Q 2025). Profit margin: 1.9% (down from 2.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.8% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Upcoming Dividend • Feb 19Upcoming dividend of JP¥7.50 per shareEligible shareholders must have bought the stock before 26 February 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%).Reported Earnings • Jan 10First quarter 2026 earnings released: EPS: JP¥14.66 (vs JP¥14.51 in 1Q 2025)First quarter 2026 results: EPS: JP¥14.66 (up from JP¥14.51 in 1Q 2025). Revenue: JP¥15.4b (up 2.4% from 1Q 2025). Net income: JP¥194.0m (up 1.6% from 1Q 2025). Profit margin: 1.3% (in line with 1Q 2025). Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.공시 • Nov 22+ 2 more updatesWatts Co., Ltd. to Report Q1, 2026 Results on Jan 09, 2026Watts Co., Ltd. announced that they will report Q1, 2026 results on Jan 09, 2026분석 기사 • Oct 17Watts' (TSE:2735) Anemic Earnings Might Be Worse Than You ThinkA lackluster earnings announcement from Watts Co., Ltd. ( TSE:2735 ) last week didn't sink the stock price. We think...Reported Earnings • Oct 11Full year 2025 earnings released: EPS: JP¥65.95 (vs JP¥68.44 in FY 2024)Full year 2025 results: EPS: JP¥65.95 (down from JP¥68.44 in FY 2024). Revenue: JP¥61.6b (flat on FY 2024). Net income: JP¥870.0m (down 3.8% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.공시 • Oct 10Watts Co., Ltd., Annual General Meeting, Nov 26, 2025Watts Co., Ltd., Annual General Meeting, Nov 26, 2025.Upcoming Dividend • Aug 21Upcoming dividend of JP¥7.50 per shareEligible shareholders must have bought the stock before 28 August 2025. Payment date: 28 November 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.2%).공시 • Aug 01Watts Co., Ltd. to Report Fiscal Year 2025 Results on Oct 10, 2025Watts Co., Ltd. announced that they will report fiscal year 2025 results on Oct 10, 2025Reported Earnings • Jul 14Third quarter 2025 earnings released: EPS: JP¥4.24 (vs JP¥24.62 in 3Q 2024)Third quarter 2025 results: EPS: JP¥4.24 (down from JP¥24.62 in 3Q 2024). Revenue: JP¥15.5b (up 1.3% from 3Q 2024). Net income: JP¥56.0m (down 83% from 3Q 2024). Profit margin: 0.4% (down from 2.1% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Reported Earnings • Apr 11Second quarter 2025 earnings released: EPS: JP¥26.15 (vs JP¥26.26 in 2Q 2024)Second quarter 2025 results: EPS: JP¥26.15 (down from JP¥26.26 in 2Q 2024). Revenue: JP¥15.5b (flat on 2Q 2024). Net income: JP¥345.0m (flat on 2Q 2024). Profit margin: 2.2% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.분석 기사 • Apr 08Returns At Watts (TSE:2735) Appear To Be Weighed DownThere are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...New Risk • Jan 15New major risk - Revenue and earnings growthEarnings have declined by 0.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥8.92b market cap, or US$56.8m).Reported Earnings • Jan 15First quarter 2025 earnings released: EPS: JP¥14.51 (vs JP¥6.75 in 1Q 2024)First quarter 2025 results: EPS: JP¥14.51 (up from JP¥6.75 in 1Q 2024). Revenue: JP¥15.0b (up 1.2% from 1Q 2024). Net income: JP¥191.0m (up 112% from 1Q 2024). Profit margin: 1.3% (up from 0.6% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.공시 • Nov 12+ 2 more updatesWatts Co., Ltd. to Report Q3, 2025 Results on Jul 10, 2025Watts Co., Ltd. announced that they will report Q3, 2025 results on Jul 10, 2025분석 기사 • Oct 17Statutory Profit Doesn't Reflect How Good Watts' (TSE:2735) Earnings AreEven though Watts Co., Ltd. ( TSE:2735 ) posted strong earnings, investors appeared to be underwhelmed. We have done...공시 • Oct 10Watts Co., Ltd., Annual General Meeting, Nov 27, 2024Watts Co., Ltd., Annual General Meeting, Nov 27, 2024.Upcoming Dividend • Aug 22Upcoming dividend of JP¥15.00 per shareEligible shareholders must have bought the stock before 29 August 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%).공시 • Aug 02Watts Co., Ltd. to Report Fiscal Year 2024 Results on Oct 10, 2024Watts Co., Ltd. announced that they will report fiscal year 2024 results on Oct 10, 2024Reported Earnings • Jul 12Third quarter 2024 earnings released: EPS: JP¥24.62 (vs JP¥1.03 in 3Q 2023)Third quarter 2024 results: EPS: JP¥24.62 (up from JP¥1.03 in 3Q 2023). Revenue: JP¥15.3b (up 3.1% from 3Q 2023). Net income: JP¥324.0m (up JP¥310.0m from 3Q 2023). Profit margin: 2.1% (up from 0.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.New Risk • May 01New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (JP¥9.20b market cap, or US$58.3m).분석 기사 • Apr 17Investors Can Find Comfort In Watts' (TSE:2735) Earnings QualitySoft earnings didn't appear to concern Watts Co., Ltd.'s ( TSE:2735 ) shareholders over the last week. We did some...Reported Earnings • Apr 11Second quarter 2024 earnings released: EPS: JP¥26.26 (vs JP¥5.67 in 2Q 2023)Second quarter 2024 results: EPS: JP¥26.26 (up from JP¥5.67 in 2Q 2023). Revenue: JP¥15.4b (up 4.0% from 2Q 2023). Net income: JP¥346.0m (up 349% from 2Q 2023). Profit margin: 2.2% (up from 0.5% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Mar 29Investor sentiment improves as stock rises 19%After last week's 19% share price gain to JP¥768, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 20x in the Multiline Retail industry in Japan. Total loss to shareholders of 10% over the past three years.분석 기사 • Mar 12Why Investors Shouldn't Be Surprised By Watts Co., Ltd.'s (TSE:2735) Low P/SWatts Co., Ltd.'s ( TSE:2735 ) price-to-sales (or "P/S") ratio of 0.1x may look like a pretty appealing investment...Reported Earnings • Jan 14First quarter 2024 earnings released: EPS: JP¥6.75 (vs JP¥15.84 in 1Q 2023)First quarter 2024 results: EPS: JP¥6.75 (down from JP¥15.84 in 1Q 2023). Revenue: JP¥14.8b (flat on 1Q 2023). Net income: JP¥90.0m (down 58% from 1Q 2023). Profit margin: 0.6% (down from 1.5% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.공시 • Nov 09+ 2 more updatesWatts Co., Ltd. to Report Q2, 2024 Results on Apr 10, 2024Watts Co., Ltd. announced that they will report Q2, 2024 results on Apr 10, 2024공시 • Oct 12Watts Co., Ltd., Annual General Meeting, Nov 28, 2023Watts Co., Ltd., Annual General Meeting, Nov 28, 2023.New Risk • Oct 11New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.4% Last year net profit margin: 1.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (JP¥7.80b market cap, or US$52.5m).Upcoming Dividend • Aug 23Upcoming dividend of JP¥15.00 per share at 2.4% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.2%).공시 • Aug 03Watts Co., Ltd. to Report Fiscal Year 2023 Results on Oct 10, 2023Watts Co., Ltd. announced that they will report fiscal year 2023 results on Oct 10, 2023Reported Earnings • Jul 13Third quarter 2023 earnings released: EPS: JP¥1.03 (vs JP¥11.56 in 3Q 2022)Third quarter 2023 results: EPS: JP¥1.03 (down from JP¥11.56 in 3Q 2022). Revenue: JP¥14.9b (flat on 3Q 2022). Net income: JP¥14.0m (down 91% from 3Q 2022). Profit margin: 0.1% (down from 1.0% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 14% per year.공시 • Jul 12Watts Co., Ltd. (TSE:2735) announces an Equity Buyback for 440,000 shares, representing 3.24% for ¥300 million.Watts Co., Ltd. (TSE:2735) announces a share repurchase program. Under the program, the company will repurchase up to 440,000 shares, 3.24% of its issued share capital, for ¥300 million. The company will cancel all the shares repurchased. The purpose of the acquisition and cancellation of treasury stock is to improve capital efficiency and enhance shareholder returns. The program will be valid till March 29, 2024. As of June 30, 2023, the company had 13,580,308 issued shares (excluding treasury stock) and 318,492 shares in treasury.Reported Earnings • Apr 12Second quarter 2023 earnings released: EPS: JP¥5.67 (vs JP¥13.80 in 2Q 2022)Second quarter 2023 results: EPS: JP¥5.67 (down from JP¥13.80 in 2Q 2022). Revenue: JP¥14.9b (flat on 2Q 2022). Net income: JP¥77.0m (down 59% from 2Q 2022). Profit margin: 0.5% (down from 1.3% in 2Q 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.Reported Earnings • Jan 14First quarter 2023 earnings released: EPS: JP¥15.84 (vs JP¥13.06 in 1Q 2022)First quarter 2023 results: EPS: JP¥15.84 (up from JP¥13.06 in 1Q 2022). Revenue: JP¥14.7b (up 7.1% from 1Q 2022). Net income: JP¥215.0m (up 23% from 1Q 2022). Profit margin: 1.5% (up from 1.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. No independent directors (9 non-independent directors). Director Yoshiko Hayashido was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.공시 • Nov 06+ 2 more updatesWatts Co., Ltd. to Report Q1, 2023 Results on Jan 13, 2023Watts Co., Ltd. announced that they will report Q1, 2023 results on Jan 13, 2023공시 • Oct 13Watts Co., Ltd., Annual General Meeting, Nov 25, 2022Watts Co., Ltd., Annual General Meeting, Nov 25, 2022.Reported Earnings • Oct 13Full year 2022 earnings released: EPS: JP¥57.82 (vs JP¥72.03 in FY 2021)Full year 2022 results: EPS: JP¥57.82 (down from JP¥72.03 in FY 2021). Revenue: JP¥58.3b (up 15% from FY 2021). Net income: JP¥781.0m (down 19% from FY 2021). Profit margin: 1.3% (down from 1.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 23Upcoming dividend of JP¥15.00 per shareEligible shareholders must have bought the stock before 30 August 2022. Payment date: 26 November 2022. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%).Reported Earnings • Jul 13Third quarter 2022 earnings released: EPS: JP¥11.56 (vs JP¥15.23 in 3Q 2021)Third quarter 2022 results: EPS: JP¥11.56 (down from JP¥15.23 in 3Q 2021). Revenue: JP¥15.0b (up 18% from 3Q 2021). Net income: JP¥157.0m (down 23% from 3Q 2021). Profit margin: 1.0% (down from 1.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 5 highly experienced directors. No independent directors (11 non-independent directors). Manager of Overseas Business Department and Director Masahiro Hirata was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Reported Earnings • Apr 12Second quarter 2022 earnings released: EPS: JP¥13.80 (vs JP¥20.38 in 2Q 2021)Second quarter 2022 results: EPS: JP¥13.80 (down from JP¥20.38 in 2Q 2021). Revenue: JP¥14.8b (up 14% from 2Q 2021). Net income: JP¥186.0m (down 32% from 2Q 2021). Profit margin: 1.3% (down from 2.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Reported Earnings • Jan 16First quarter 2022 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2022 results: EPS: JP¥13.06 (down from JP¥39.33 in 1Q 2021). Revenue: JP¥13.7b (up 8.1% from 1Q 2021). Net income: JP¥175.0m (down 67% from 1Q 2021). Profit margin: 1.3% (down from 4.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Reported Earnings • Oct 13Full year 2021 earnings released: EPS JP¥72.03 (vs JP¥57.77 in FY 2020)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥50.7b (down 4.0% from FY 2020). Net income: JP¥965.0m (up 25% from FY 2020). Profit margin: 1.9% (up from 1.5% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Upcoming Dividend • Aug 23Upcoming dividend of JP¥22.00 per shareEligible shareholders must have bought the stock before 30 August 2021. Payment date: 26 November 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.1%). Higher than average of industry peers (1.7%).Reported Earnings • Jul 15Third quarter 2021 earnings released: EPS JP¥15.23 (vs JP¥4.70 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥12.7b (down 6.6% from 3Q 2020). Net income: JP¥204.0m (up 224% from 3Q 2020). Profit margin: 1.6% (up from 0.5% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.Reported Earnings • Apr 14Second quarter 2021 earnings released: EPS JP¥20.38 (vs JP¥24.56 in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥12.9b (down 2.7% from 2Q 2020). Net income: JP¥273.0m (down 17% from 2Q 2020). Profit margin: 2.1% (down from 2.5% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Mar 09New 90-day high: JP¥931The company is up 13% from its price of JP¥825 on 09 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Multiline Retail industry, which is also up 13% over the same period.Reported Earnings • Jan 14First quarter 2021 earnings released: EPS JP¥39.33The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: JP¥12.7b (flat on 1Q 2020). Net income: JP¥527.0m (up 479% from 1Q 2020). Profit margin: 4.2% (up from 0.7% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings.Is New 90 Day High Low • Jan 12New 90-day high: JP¥926The company is up 12% from its price of JP¥826 on 14 October 2020. The Japanese market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Multiline Retail industry, which is down 1.0% over the same period.공시 • Jan 09Watts Co., Ltd. to Report Fiscal Year 2021 Results on Oct 12, 2021Watts Co., Ltd. announced that they will report fiscal year 2021 results on Oct 12, 2021매출 및 비용 세부 내역Watts가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이TSE:2735 매출, 비용 및 순이익 (JPY Millions)날짜매출순이익일반관리비연구개발비28 Feb 2662,38882922,784030 Nov 2561,93487322,623031 Aug 2561,57887022,488031 May 2561,66573622,564028 Feb 2561,4671,00422,433030 Nov 2461,4391,00522,421031 Aug 2461,25790422,344031 May 2460,48270421,950029 Feb 2460,01439421,821030 Nov 2359,42312521,841031 Aug 2359,30925021,832031 May 2359,30256921,919028 Feb 2359,39171221,902030 Nov 2259,32082121,718031 Aug 2258,34778121,282031 May 2255,83047920,370028 Feb 2253,59052619,437030 Nov 2151,73561318,560031 Aug 2150,70296517,956031 May 2151,5331,29517,932028 Feb 2152,4311,15418,128030 Nov 2052,7851,21018,281031 Aug 2052,79577418,446031 May 2052,38638318,530029 Feb 2051,73338718,506030 Nov 1951,3717418,583031 Aug 1951,3997018,620031 May 1951,26516818,562028 Feb 1951,20635718,418030 Nov 1850,33154918,138031 Aug 1849,44463317,803031 May 1848,67074517,535028 Feb 1847,89672917,174030 Nov 1747,72979216,928031 Aug 1747,49483916,785031 May 1747,28592816,475028 Feb 1746,76586016,334030 Nov 1646,45682516,203031 Aug 1646,17671816,103031 May 1645,67556616,107029 Feb 1645,34655415,902030 Nov 1544,86050415,749031 Aug 1544,46270015,467031 May 1544,17284115,1810양질의 수익: 2735는 고품질 수익을 보유하고 있습니다.이익 마진 증가: 2735의 현재 순 이익률 (1.3%)은 지난해 (1.6%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: 2735의 수익은 지난 5년 동안 연평균 1.7% 감소했습니다.성장 가속화: 2735은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: 2735은 지난 1년 동안 수익이 감소(-17.4%)하여 Multiline Retail 업계 평균(14.2%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: 2735의 자본 수익률(6.2%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YRetail 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/26 10:28종가2026/05/26 00:00수익2026/02/28연간 수익2025/08/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Watts Co., Ltd.는 3명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Risa TanihanaDaiwa Securities Co. Ltd.Akihiro HayashiIchiyoshi Research Institute Inc.Toshinori KatsukiNomura Securities Co. Ltd.
Reported Earnings • Apr 11Second quarter 2026 earnings released: EPS: JP¥22.68 (vs JP¥26.15 in 2Q 2025)Second quarter 2026 results: EPS: JP¥22.68 (down from JP¥26.15 in 2Q 2025). Revenue: JP¥15.9b (up 2.9% from 2Q 2025). Net income: JP¥301.0m (down 13% from 2Q 2025). Profit margin: 1.9% (down from 2.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.8% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Reported Earnings • Jan 10First quarter 2026 earnings released: EPS: JP¥14.66 (vs JP¥14.51 in 1Q 2025)First quarter 2026 results: EPS: JP¥14.66 (up from JP¥14.51 in 1Q 2025). Revenue: JP¥15.4b (up 2.4% from 1Q 2025). Net income: JP¥194.0m (up 1.6% from 1Q 2025). Profit margin: 1.3% (in line with 1Q 2025). Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
공시 • Nov 22+ 2 more updatesWatts Co., Ltd. to Report Q1, 2026 Results on Jan 09, 2026Watts Co., Ltd. announced that they will report Q1, 2026 results on Jan 09, 2026
분석 기사 • Oct 17Watts' (TSE:2735) Anemic Earnings Might Be Worse Than You ThinkA lackluster earnings announcement from Watts Co., Ltd. ( TSE:2735 ) last week didn't sink the stock price. We think...
Reported Earnings • Oct 11Full year 2025 earnings released: EPS: JP¥65.95 (vs JP¥68.44 in FY 2024)Full year 2025 results: EPS: JP¥65.95 (down from JP¥68.44 in FY 2024). Revenue: JP¥61.6b (flat on FY 2024). Net income: JP¥870.0m (down 3.8% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
공시 • Aug 01Watts Co., Ltd. to Report Fiscal Year 2025 Results on Oct 10, 2025Watts Co., Ltd. announced that they will report fiscal year 2025 results on Oct 10, 2025
Reported Earnings • Apr 11Second quarter 2026 earnings released: EPS: JP¥22.68 (vs JP¥26.15 in 2Q 2025)Second quarter 2026 results: EPS: JP¥22.68 (down from JP¥26.15 in 2Q 2025). Revenue: JP¥15.9b (up 2.9% from 2Q 2025). Net income: JP¥301.0m (down 13% from 2Q 2025). Profit margin: 1.9% (down from 2.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.8% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Feb 19Upcoming dividend of JP¥7.50 per shareEligible shareholders must have bought the stock before 26 February 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%).
Reported Earnings • Jan 10First quarter 2026 earnings released: EPS: JP¥14.66 (vs JP¥14.51 in 1Q 2025)First quarter 2026 results: EPS: JP¥14.66 (up from JP¥14.51 in 1Q 2025). Revenue: JP¥15.4b (up 2.4% from 1Q 2025). Net income: JP¥194.0m (up 1.6% from 1Q 2025). Profit margin: 1.3% (in line with 1Q 2025). Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
공시 • Nov 22+ 2 more updatesWatts Co., Ltd. to Report Q1, 2026 Results on Jan 09, 2026Watts Co., Ltd. announced that they will report Q1, 2026 results on Jan 09, 2026
분석 기사 • Oct 17Watts' (TSE:2735) Anemic Earnings Might Be Worse Than You ThinkA lackluster earnings announcement from Watts Co., Ltd. ( TSE:2735 ) last week didn't sink the stock price. We think...
Reported Earnings • Oct 11Full year 2025 earnings released: EPS: JP¥65.95 (vs JP¥68.44 in FY 2024)Full year 2025 results: EPS: JP¥65.95 (down from JP¥68.44 in FY 2024). Revenue: JP¥61.6b (flat on FY 2024). Net income: JP¥870.0m (down 3.8% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
공시 • Oct 10Watts Co., Ltd., Annual General Meeting, Nov 26, 2025Watts Co., Ltd., Annual General Meeting, Nov 26, 2025.
Upcoming Dividend • Aug 21Upcoming dividend of JP¥7.50 per shareEligible shareholders must have bought the stock before 28 August 2025. Payment date: 28 November 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.2%).
공시 • Aug 01Watts Co., Ltd. to Report Fiscal Year 2025 Results on Oct 10, 2025Watts Co., Ltd. announced that they will report fiscal year 2025 results on Oct 10, 2025
Reported Earnings • Jul 14Third quarter 2025 earnings released: EPS: JP¥4.24 (vs JP¥24.62 in 3Q 2024)Third quarter 2025 results: EPS: JP¥4.24 (down from JP¥24.62 in 3Q 2024). Revenue: JP¥15.5b (up 1.3% from 3Q 2024). Net income: JP¥56.0m (down 83% from 3Q 2024). Profit margin: 0.4% (down from 2.1% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Reported Earnings • Apr 11Second quarter 2025 earnings released: EPS: JP¥26.15 (vs JP¥26.26 in 2Q 2024)Second quarter 2025 results: EPS: JP¥26.15 (down from JP¥26.26 in 2Q 2024). Revenue: JP¥15.5b (flat on 2Q 2024). Net income: JP¥345.0m (flat on 2Q 2024). Profit margin: 2.2% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
분석 기사 • Apr 08Returns At Watts (TSE:2735) Appear To Be Weighed DownThere are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...
New Risk • Jan 15New major risk - Revenue and earnings growthEarnings have declined by 0.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥8.92b market cap, or US$56.8m).
Reported Earnings • Jan 15First quarter 2025 earnings released: EPS: JP¥14.51 (vs JP¥6.75 in 1Q 2024)First quarter 2025 results: EPS: JP¥14.51 (up from JP¥6.75 in 1Q 2024). Revenue: JP¥15.0b (up 1.2% from 1Q 2024). Net income: JP¥191.0m (up 112% from 1Q 2024). Profit margin: 1.3% (up from 0.6% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
공시 • Nov 12+ 2 more updatesWatts Co., Ltd. to Report Q3, 2025 Results on Jul 10, 2025Watts Co., Ltd. announced that they will report Q3, 2025 results on Jul 10, 2025
분석 기사 • Oct 17Statutory Profit Doesn't Reflect How Good Watts' (TSE:2735) Earnings AreEven though Watts Co., Ltd. ( TSE:2735 ) posted strong earnings, investors appeared to be underwhelmed. We have done...
공시 • Oct 10Watts Co., Ltd., Annual General Meeting, Nov 27, 2024Watts Co., Ltd., Annual General Meeting, Nov 27, 2024.
Upcoming Dividend • Aug 22Upcoming dividend of JP¥15.00 per shareEligible shareholders must have bought the stock before 29 August 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%).
공시 • Aug 02Watts Co., Ltd. to Report Fiscal Year 2024 Results on Oct 10, 2024Watts Co., Ltd. announced that they will report fiscal year 2024 results on Oct 10, 2024
Reported Earnings • Jul 12Third quarter 2024 earnings released: EPS: JP¥24.62 (vs JP¥1.03 in 3Q 2023)Third quarter 2024 results: EPS: JP¥24.62 (up from JP¥1.03 in 3Q 2023). Revenue: JP¥15.3b (up 3.1% from 3Q 2023). Net income: JP¥324.0m (up JP¥310.0m from 3Q 2023). Profit margin: 2.1% (up from 0.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
New Risk • May 01New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (JP¥9.20b market cap, or US$58.3m).
분석 기사 • Apr 17Investors Can Find Comfort In Watts' (TSE:2735) Earnings QualitySoft earnings didn't appear to concern Watts Co., Ltd.'s ( TSE:2735 ) shareholders over the last week. We did some...
Reported Earnings • Apr 11Second quarter 2024 earnings released: EPS: JP¥26.26 (vs JP¥5.67 in 2Q 2023)Second quarter 2024 results: EPS: JP¥26.26 (up from JP¥5.67 in 2Q 2023). Revenue: JP¥15.4b (up 4.0% from 2Q 2023). Net income: JP¥346.0m (up 349% from 2Q 2023). Profit margin: 2.2% (up from 0.5% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Mar 29Investor sentiment improves as stock rises 19%After last week's 19% share price gain to JP¥768, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 20x in the Multiline Retail industry in Japan. Total loss to shareholders of 10% over the past three years.
분석 기사 • Mar 12Why Investors Shouldn't Be Surprised By Watts Co., Ltd.'s (TSE:2735) Low P/SWatts Co., Ltd.'s ( TSE:2735 ) price-to-sales (or "P/S") ratio of 0.1x may look like a pretty appealing investment...
Reported Earnings • Jan 14First quarter 2024 earnings released: EPS: JP¥6.75 (vs JP¥15.84 in 1Q 2023)First quarter 2024 results: EPS: JP¥6.75 (down from JP¥15.84 in 1Q 2023). Revenue: JP¥14.8b (flat on 1Q 2023). Net income: JP¥90.0m (down 58% from 1Q 2023). Profit margin: 0.6% (down from 1.5% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
공시 • Nov 09+ 2 more updatesWatts Co., Ltd. to Report Q2, 2024 Results on Apr 10, 2024Watts Co., Ltd. announced that they will report Q2, 2024 results on Apr 10, 2024
공시 • Oct 12Watts Co., Ltd., Annual General Meeting, Nov 28, 2023Watts Co., Ltd., Annual General Meeting, Nov 28, 2023.
New Risk • Oct 11New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.4% Last year net profit margin: 1.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (JP¥7.80b market cap, or US$52.5m).
Upcoming Dividend • Aug 23Upcoming dividend of JP¥15.00 per share at 2.4% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.2%).
공시 • Aug 03Watts Co., Ltd. to Report Fiscal Year 2023 Results on Oct 10, 2023Watts Co., Ltd. announced that they will report fiscal year 2023 results on Oct 10, 2023
Reported Earnings • Jul 13Third quarter 2023 earnings released: EPS: JP¥1.03 (vs JP¥11.56 in 3Q 2022)Third quarter 2023 results: EPS: JP¥1.03 (down from JP¥11.56 in 3Q 2022). Revenue: JP¥14.9b (flat on 3Q 2022). Net income: JP¥14.0m (down 91% from 3Q 2022). Profit margin: 0.1% (down from 1.0% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 14% per year.
공시 • Jul 12Watts Co., Ltd. (TSE:2735) announces an Equity Buyback for 440,000 shares, representing 3.24% for ¥300 million.Watts Co., Ltd. (TSE:2735) announces a share repurchase program. Under the program, the company will repurchase up to 440,000 shares, 3.24% of its issued share capital, for ¥300 million. The company will cancel all the shares repurchased. The purpose of the acquisition and cancellation of treasury stock is to improve capital efficiency and enhance shareholder returns. The program will be valid till March 29, 2024. As of June 30, 2023, the company had 13,580,308 issued shares (excluding treasury stock) and 318,492 shares in treasury.
Reported Earnings • Apr 12Second quarter 2023 earnings released: EPS: JP¥5.67 (vs JP¥13.80 in 2Q 2022)Second quarter 2023 results: EPS: JP¥5.67 (down from JP¥13.80 in 2Q 2022). Revenue: JP¥14.9b (flat on 2Q 2022). Net income: JP¥77.0m (down 59% from 2Q 2022). Profit margin: 0.5% (down from 1.3% in 2Q 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
Reported Earnings • Jan 14First quarter 2023 earnings released: EPS: JP¥15.84 (vs JP¥13.06 in 1Q 2022)First quarter 2023 results: EPS: JP¥15.84 (up from JP¥13.06 in 1Q 2022). Revenue: JP¥14.7b (up 7.1% from 1Q 2022). Net income: JP¥215.0m (up 23% from 1Q 2022). Profit margin: 1.5% (up from 1.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. No independent directors (9 non-independent directors). Director Yoshiko Hayashido was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
공시 • Nov 06+ 2 more updatesWatts Co., Ltd. to Report Q1, 2023 Results on Jan 13, 2023Watts Co., Ltd. announced that they will report Q1, 2023 results on Jan 13, 2023
공시 • Oct 13Watts Co., Ltd., Annual General Meeting, Nov 25, 2022Watts Co., Ltd., Annual General Meeting, Nov 25, 2022.
Reported Earnings • Oct 13Full year 2022 earnings released: EPS: JP¥57.82 (vs JP¥72.03 in FY 2021)Full year 2022 results: EPS: JP¥57.82 (down from JP¥72.03 in FY 2021). Revenue: JP¥58.3b (up 15% from FY 2021). Net income: JP¥781.0m (down 19% from FY 2021). Profit margin: 1.3% (down from 1.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 23Upcoming dividend of JP¥15.00 per shareEligible shareholders must have bought the stock before 30 August 2022. Payment date: 26 November 2022. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%).
Reported Earnings • Jul 13Third quarter 2022 earnings released: EPS: JP¥11.56 (vs JP¥15.23 in 3Q 2021)Third quarter 2022 results: EPS: JP¥11.56 (down from JP¥15.23 in 3Q 2021). Revenue: JP¥15.0b (up 18% from 3Q 2021). Net income: JP¥157.0m (down 23% from 3Q 2021). Profit margin: 1.0% (down from 1.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 5 highly experienced directors. No independent directors (11 non-independent directors). Manager of Overseas Business Department and Director Masahiro Hirata was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Reported Earnings • Apr 12Second quarter 2022 earnings released: EPS: JP¥13.80 (vs JP¥20.38 in 2Q 2021)Second quarter 2022 results: EPS: JP¥13.80 (down from JP¥20.38 in 2Q 2021). Revenue: JP¥14.8b (up 14% from 2Q 2021). Net income: JP¥186.0m (down 32% from 2Q 2021). Profit margin: 1.3% (down from 2.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Jan 16First quarter 2022 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2022 results: EPS: JP¥13.06 (down from JP¥39.33 in 1Q 2021). Revenue: JP¥13.7b (up 8.1% from 1Q 2021). Net income: JP¥175.0m (down 67% from 1Q 2021). Profit margin: 1.3% (down from 4.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Reported Earnings • Oct 13Full year 2021 earnings released: EPS JP¥72.03 (vs JP¥57.77 in FY 2020)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥50.7b (down 4.0% from FY 2020). Net income: JP¥965.0m (up 25% from FY 2020). Profit margin: 1.9% (up from 1.5% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Aug 23Upcoming dividend of JP¥22.00 per shareEligible shareholders must have bought the stock before 30 August 2021. Payment date: 26 November 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.1%). Higher than average of industry peers (1.7%).
Reported Earnings • Jul 15Third quarter 2021 earnings released: EPS JP¥15.23 (vs JP¥4.70 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥12.7b (down 6.6% from 3Q 2020). Net income: JP¥204.0m (up 224% from 3Q 2020). Profit margin: 1.6% (up from 0.5% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
Reported Earnings • Apr 14Second quarter 2021 earnings released: EPS JP¥20.38 (vs JP¥24.56 in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥12.9b (down 2.7% from 2Q 2020). Net income: JP¥273.0m (down 17% from 2Q 2020). Profit margin: 2.1% (down from 2.5% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Mar 09New 90-day high: JP¥931The company is up 13% from its price of JP¥825 on 09 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Multiline Retail industry, which is also up 13% over the same period.
Reported Earnings • Jan 14First quarter 2021 earnings released: EPS JP¥39.33The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: JP¥12.7b (flat on 1Q 2020). Net income: JP¥527.0m (up 479% from 1Q 2020). Profit margin: 4.2% (up from 0.7% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings.
Is New 90 Day High Low • Jan 12New 90-day high: JP¥926The company is up 12% from its price of JP¥826 on 14 October 2020. The Japanese market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Multiline Retail industry, which is down 1.0% over the same period.
공시 • Jan 09Watts Co., Ltd. to Report Fiscal Year 2021 Results on Oct 12, 2021Watts Co., Ltd. announced that they will report fiscal year 2021 results on Oct 12, 2021