Declared Dividend • May 20
Dividend of JP¥150 announced Shareholders will receive a dividend of JP¥150. Ex-date: 29th June 2026 Payment date: 1st September 2026 Dividend yield will be 115%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Tomoko Tanabe was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Feb 12
HORIBA, Ltd., Annual General Meeting, Mar 21, 2026 HORIBA, Ltd., Annual General Meeting, Mar 21, 2026. Aankondiging • Dec 27
HORIBA, Ltd. to Report Fiscal Year 2025 Results on Feb 12, 2026 HORIBA, Ltd. announced that they will report fiscal year 2025 results on Feb 12, 2026 Aankondiging • Sep 04
HORIBA, Ltd. to Report Q3, 2025 Results on Nov 14, 2025 HORIBA, Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025 Aankondiging • Jun 05
HORIBA, Ltd. to Report Q2, 2025 Results on Aug 07, 2025 HORIBA, Ltd. announced that they will report Q2, 2025 results on Aug 07, 2025 Aankondiging • Mar 27
HORIBA, Ltd. to Report Q1, 2025 Results on May 15, 2025 HORIBA, Ltd. announced that they will report Q1, 2025 results on May 15, 2025 Aankondiging • Mar 18
HORIBA IRLAM Technology Receives U.S. EPA Approval for Measuring NOx Emissions in Engine and Vehicle Certification HORIBA received approval from the U.S. Environmental Protection Agency (EPA) for its proprietary Infra-Red Laser Absorption Modulation (IRLAM) technology to be used as an accepted alternative for measuring NOx emissions in the certification testing of heavy-duty engines and light-duty vehicles. Extensive internal and published testing data has confirmed IRLAM's significant advantages in NOx measurement, offering improved data quality and potential cost savings through enhanced accuracy, superior wet measurement, minimal interference, lower maintenance costs, and consistent response times. With the EPA's guidance letter now in place, OEMs have formal approval to use HORIBA's IRLAM-based analyzers for NOx measurement in vehicle and engine certification testing, further supporting industry efforts to meet stringent emissions regulations. Aankondiging • Feb 14
HORIBA, Ltd. Approves Special Dividend for the Fiscal Year Ended December 31, 2024, Payable on March 10, 2025 HORIBA, Ltd. announced that the board of directors' meeting held on February 13, 2025 passed a resolution to distribute dividends from retained earnings at the record date of December 31, 2024. With regard to the dividends for FY2024, Company have decided to pay a year-end dividend of ¥190 including special dividend ¥25 per share. Combined with the interim dividend already paid, this will bring the annual dividend to ¥270 per share. Effective Date March 10, 2025. Aankondiging • Dec 03
HORIBA, Ltd. to Report Fiscal Year 2024 Results on Feb 13, 2025 HORIBA, Ltd. announced that they will report fiscal year 2024 results on Feb 13, 2025 Aankondiging • Nov 16
HORIBA, Ltd. Provides Consolidated Earnings Guidance for the Full Year Ending December 31, 2024 HORIBA, Ltd. provided consolidated earnings guidance for the full Year Ending December 31, 2024. For the period, Company expects net sales of JPY 318,000 million, operating income of JPY 47,500 million, net income attributable to owners of parent of JPY 33,000 million and net income attributable to owners of parent per share of JPY 786.60 against previous guidance of net sales of JPY 321,000 million, operating income of JPY 52,000 million, net income attributable to owners of parent of JPY 37,000 million. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €47.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Electronic industry in Germany. Total loss to shareholders of 6.1% over the past three years. Aankondiging • Nov 13
HORIBA, Ltd. Revises Dividend Guidance for the Fiscal Year 2024 HORIBA, Ltd. revised dividend guidance for the FY2024. For the year, the company expects dividend of JPY 165.00 per share against previous guidance of JPY 185.00 per share. Reasons for the Amendments: The Company's shareholder return policy is targeting a dividend payout ratio at 30% of net income attributable to HORIBA Ltd.'s shareholders, while special dividend and share buybacks will be executed timely and properly, taking into account investment opportunities, cash flow situation and other factors. The dividend forecasts for FY2024 had been 265 yen per share since the announcement of the Summary of Consolidated Financial Statements for the Six Months Ended June 30, 2024 on August 8, 2024. However, considering the revised consolidated earnings forecasts for FY2024, the Company has amended the forecasts for the year-end per-share dividend with a decrease of 20 yen to 165 yen and thus revised downward the annual dividend forecasts to 245 yen, including interim dividend which had already been paid. Aankondiging • Aug 27
HORIBA, Ltd. to Report Q3, 2024 Results on Nov 13, 2024 HORIBA, Ltd. announced that they will report Q3, 2024 results on Nov 13, 2024 Aankondiging • Aug 13
HORIBA, Ltd. Provides Consolidated Earnings Guidance for the Full Year of Fiscal Year Ending December 31, 2024 HORIBA, Ltd. provided consolidated earnings guidance for the full year of fiscal year ending December 31, 2024. For the full year, the company expects net sales of JPY 321,000 million, operating income of JPY 52,000 million, net income attributable to owners of parent of JPY 37,000 million and net income attributable to owners of parent per share of JPY 881.95. Declared Dividend • Aug 11
Dividend of JP¥185 announced Shareholders will receive a dividend of JP¥185. Ex-date: 27th December 2024 Payment date: 4th March 2025 Dividend yield will be 325%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but not covered by cash flows (149% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Aug 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Dividend is not well covered by cash flows (149% cash payout ratio). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €54.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Electronic industry in Germany. Total loss to shareholders of 1.1% over the past three years. Aankondiging • Jun 02
HORIBA, Ltd. to Report Q2, 2024 Results on Aug 08, 2024 HORIBA, Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: JP¥167 (vs JP¥321 in 1Q 2023) First quarter 2024 results: EPS: JP¥167 (down from JP¥321 in 1Q 2023). Revenue: JP¥70.3b (up 6.7% from 1Q 2023). Net income: JP¥7.03b (down 48% from 1Q 2023). Profit margin: 10.0% (down from 21% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €75.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €103 per share. Buy Or Sell Opportunity • May 16
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to €75.00. The fair value is estimated to be €103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 4.2% per annum over the same time period. Buy Or Sell Opportunity • Apr 25
Now 20% undervalued Over the last 90 days, the stock has risen 18% to €84.50. The fair value is estimated to be €106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 4.2% per annum over the same time period. Buy Or Sell Opportunity • Apr 19
Now 21% undervalued Over the last 90 days, the stock has risen 14% to €84.50. The fair value is estimated to be €107, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 4.0% per annum over the same time period. Declared Dividend • Apr 11
Final dividend of JP¥80.00 announced Shareholders will receive a dividend of JP¥80.00. Ex-date: 27th June 2024 Payment date: 4th September 2024 Dividend yield will be 84%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but not covered by cash flows (149% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Mar 28
HORIBA, Ltd. to Report Q1, 2024 Results on May 14, 2024 HORIBA, Ltd. announced that they will report Q1, 2024 results on May 14, 2024 Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: JP¥954 (vs JP¥807 in FY 2022) Full year 2023 results: EPS: JP¥954 (up from JP¥807 in FY 2022). Revenue: JP¥290.6b (up 7.6% from FY 2022). Net income: JP¥40.3b (up 18% from FY 2022). Profit margin: 14% (up from 13% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 29
HORIBA, Ltd. Provides Earnings Guidance for the Year 2028 HORIBA, Ltd. provided earnings guidance for the year 2028. For the year, the company expects Net sales of JPY 450 billion and Operating income of JPY 80 billion. Buy Or Sell Opportunity • Feb 21
Now 21% undervalued Over the last 90 days, the stock has risen 49% to €83.50. The fair value is estimated to be €106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 2.9% per annum over the same time period. Buy Or Sell Opportunity • Feb 20
Now 20% undervalued Over the last 90 days, the stock has risen 53% to €85.00. The fair value is estimated to be €107, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 2.9% per annum over the same time period. Aankondiging • Feb 16
HORIBA, Ltd., Annual General Meeting, Mar 23, 2024 HORIBA, Ltd., Annual General Meeting, Mar 23, 2024. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: JP¥954 (vs JP¥807 in FY 2022) Full year 2023 results: EPS: JP¥954 (up from JP¥807 in FY 2022). Revenue: JP¥290.6b (up 7.6% from FY 2022). Net income: JP¥40.3b (up 18% from FY 2022). Profit margin: 14% (up from 13% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €91.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 91% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €108 per share. Aankondiging • Feb 15
HORIBA, Ltd. (TSE:6856) announces an Equity Buyback for 530,000 shares, representing 1.25% for ¥5,000 million. HORIBA, Ltd. (TSE:6856) announces a share repurchase program. Under the program, the company will repurchase up to 530,000 shares, representing 1.25% of the issued capital of the company, for up to ¥5,000 million. The repurchased shares will be used as stock compensation for directors and executive officers of the company. The plan will expire on April 30, 2024. As of December 31, 2023, the company had 42,269,723 shares outstanding (excluding treasury stock) and 263,029 shares in treasury. Aankondiging • Feb 14
Horiba, Ltd. Announces Year End Dividend for 2023 , Payable on March 4, 2024 HORIBA, Ltd. announced that the board of directors' meeting held on February 14, 2024 passed a resolution to distribute dividends for year end 2023 from retained earnings of JPY 210 . Record Date is December 31, 2023. Effective Date is March 4, 2024. Aankondiging • Dec 28
HORIBA, Ltd. to Report Fiscal Year 2023 Results on Feb 14, 2024 HORIBA, Ltd. announced that they will report fiscal year 2023 results on Feb 14, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of JP¥180 per share at 2.4% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 06 March 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.5%). Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: JP¥188 (vs JP¥224 in 3Q 2022) Third quarter 2023 results: EPS: JP¥188 (down from JP¥224 in 3Q 2022). Revenue: JP¥69.6b (flat on 3Q 2022). Net income: JP¥7.97b (down 16% from 3Q 2022). Profit margin: 11% (down from 14% in 3Q 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 28
HORIBA, Ltd. to Report Q3, 2023 Results on Nov 13, 2023 HORIBA, Ltd. announced that they will report Q3, 2023 results on Nov 13, 2023 Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: JP¥129 (vs JP¥131 in 2Q 2022) Second quarter 2023 results: EPS: JP¥129 (down from JP¥131 in 2Q 2022). Revenue: JP¥65.3b (up 9.7% from 2Q 2022). Net income: JP¥5.45b (down 1.3% from 2Q 2022). Profit margin: 8.4% (down from 9.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥80.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 05 September 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.2%). Aankondiging • May 31
HORIBA, Ltd. to Report Q2, 2023 Results on Aug 09, 2023 HORIBA, Ltd. announced that they will report Q2, 2023 results on Aug 09, 2023 Reported Earnings • May 16
First quarter 2023 earnings released: EPS: JP¥321 (vs JP¥136 in 1Q 2022) First quarter 2023 results: EPS: JP¥321 (up from JP¥136 in 1Q 2022). Revenue: JP¥65.9b (up 19% from 1Q 2022). Net income: JP¥13.6b (up 137% from 1Q 2022). Profit margin: 21% (up from 10% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% 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 • Mar 30
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥270.1b (up 20% from FY 2021). Net income: JP¥34.1b (up 60% from FY 2021). Profit margin: 13% (up from 9.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: JP¥807 (vs JP¥505 in FY 2021) Full year 2022 results: EPS: JP¥807 (up from JP¥505 in FY 2021). Revenue: JP¥270.1b (up 20% from FY 2021). Net income: JP¥34.1b (up 60% from FY 2021). Profit margin: 13% (up from 9.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €49.40, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 19x in the Electronic industry in Germany. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €43.89 per share. Aankondiging • Feb 16
HORIBA, Ltd., Annual General Meeting, Mar 25, 2023 HORIBA, Ltd., Annual General Meeting, Mar 25, 2023. Aankondiging • Feb 14
HORIBA, Ltd. Approves Dividend for the Fiscal Year 2022, Payable on March 6, 2023 HORIBA, Ltd. announced that the board of directors' meeting held on February 14, 2023 passed a resolution to distribute dividends from retained earnings at the record date of December 31, 2022. Dividend per Share is JPY 180. Total dividend payment is JPY 7,601 million. Effective date is March 6, 2023. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥145 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 07 March 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.1%). Aankondiging • Dec 06
HORIBA, Ltd. to Report Fiscal Year 2022 Results on Feb 14, 2023 HORIBA, Ltd. announced that they will report fiscal year 2022 results on Feb 14, 2023 Reported Earnings • Nov 17
Third quarter 2022 earnings released: EPS: JP¥224 (vs JP¥118 in 3Q 2021) Third quarter 2022 results: EPS: JP¥224 (up from JP¥118 in 3Q 2021). Revenue: JP¥70.2b (up 33% from 3Q 2021). Net income: JP¥9.46b (up 90% from 3Q 2021). Profit margin: 14% (up from 9.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. 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 9% per year, which means it is significantly lagging earnings. Board Change • Nov 17
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Non-Executive Independent Director Haruyuki Toyama was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Aankondiging • Nov 15
HORIBA, Ltd. Provides Consolidated Earnings Guidance for the Year Ending December 31, 2022 HORIBA, Ltd. provided consolidated earnings guidance for the year ending December 31, 2022. For the year, the company expected net sales of JPY 265,000 million, operating income of JPY 43,000 million, net income attributable to owners of parent of JPY 30,000 million, net income attributable to owners of parent per share of JPY 710.40. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: JP¥224 (vs JP¥118 in 3Q 2021) Third quarter 2022 results: EPS: JP¥224 (up from JP¥118 in 3Q 2021). Revenue: JP¥70.2b (up 33% from 3Q 2021). Net income: JP¥9.46b (up 90% from 3Q 2021). Profit margin: 14% (up from 9.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. 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 11% per year, which means it is significantly lagging earnings. Aankondiging • Nov 11
Horiba, Ltd. Announces Amendments to Dividend Forecasts for Year End 2022 Based on its recent business performance, HORIBA, Ltd. announced the following amendments to its dividend forecast for FY2022, which was previously announced on August 12, 2022. Revised to Dividend Forecast to JPY 145 against Previous Forecasts of JPY 135. Buying Opportunity • Oct 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €50.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings is also forecast to grow by 1.2% per annum over the same time period. Aankondiging • Aug 28
HORIBA, Ltd. to Report Q3, 2022 Results on Nov 11, 2022 HORIBA, Ltd. announced that they will report Q3, 2022 results on Nov 11, 2022 Aankondiging • Aug 16
HORIBA, Ltd. Provides Earnings Guidance for the Year Ending December 31, 2022 HORIBA, Ltd. provided earnings guidance for the year ending December 31, 2022. For the year, the company expected net sales of JPY 260,000 million, operating income of JPY 40,000 million, net income attributable to owners of parent of JPY 28,000 million, net income attributable to owners of parent per share of JPY 663.04. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: JP¥131 (vs JP¥115 in 2Q 2021) Second quarter 2022 results: EPS: JP¥131 (up from JP¥115 in 2Q 2021). Revenue: JP¥59.5b (up 13% from 2Q 2021). Net income: JP¥5.52b (up 14% from 2Q 2021). Profit margin: 9.3% (up from 9.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.1%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 12
HORIBA, Ltd. Revises Dividend Guidance for Interim and Full Year of 2022 HORIBA, Ltd. announced that the board of directors' meeting held on August 12, 2022 passed a resolution regarding the payment of interim dividend from retained earnings and that amendment to its dividend forecasts for Fiscal Year 2022, which were previously announced on May 13, 2022. The company approved its interim dividend of JPY 65 per share of total dividend payment JPY 2,744 million from retained earnings of record as of June 30, 2022, effective September 5, 2022. For the year end 2022, the company approved its dividend of JPY 135 per share. Reasons for the Amendments: The Company's shareholder return policy is to set the total returns to shareholders (the combined amount of dividend payments and share buybacks) at approximately 30% of consolidated net income attributable to owners of parent. Dividend forecasts for Fiscal Year 2022 had been JPY 180 per share for the full year (JPY 60 for the interim and JPY 120 for the year-end) since "Summary of Consolidated Financial Statements for the Three Months Ended March 31, 2022" on May 13, 2022. However, considering the revised consolidated earnings forecasts for Fiscal Year 2022, the Company has amended the forecasts to increase the full year dividend by JPY 20 (JPY 5 for the interim) to JPY 200 (JPY 65 for the interim and JPY 135 for the year-end). Upcoming Dividend • Jun 22
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 06 September 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.4%). Higher than average of industry peers (1.2%). Aankondiging • May 29
HORIBA, Ltd. to Report Q2, 2022 Results on Aug 12, 2022 HORIBA, Ltd. announced that they will report Q2, 2022 results on Aug 12, 2022 Reported Earnings • May 18
First quarter 2022 earnings released: EPS: JP¥136 (vs JP¥92.42 in 1Q 2021) First quarter 2022 results: EPS: JP¥136 (up from JP¥92.42 in 1Q 2021). Revenue: JP¥55.5b (up 14% from 1Q 2021). Net income: JP¥5.72b (up 47% from 1Q 2021). Profit margin: 10% (up from 8.0% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.4%, compared to a 19% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Aankondiging • May 13
HORIBA, Ltd. Revises Dividend Guidance for the Interim Fiscal Year 2022 and Fiscal Year End 2022 HORIBA, Ltd. revised dividend guidance of JPY 60 per share for the interim fiscal year 2022 as compared to previous guidance of JPY 50 per share.For the fiscal year end 2022, the company expected dividend of JPY 120 per share as compared to previous guidance of JPY 110 per share. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Non-Executive Independent Director Haruyuki Toyama was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Aankondiging • Apr 08
HORIBA, Ltd. to Report Q1, 2022 Results on May 13, 2022 HORIBA, Ltd. announced that they will report Q1, 2022 results on May 13, 2022 Buying Opportunity • Apr 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.7%. The fair value is estimated to be €59.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings is also forecast to grow by 4.1% per annum over the same time period. Aankondiging • Feb 17
HORIBA, Ltd., Annual General Meeting, Mar 26, 2022 HORIBA, Ltd., Annual General Meeting, Mar 26, 2022. Agenda: to election of board. Reported Earnings • Feb 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: JP¥505 (up from JP¥313 in FY 2020). Revenue: JP¥224.3b (up 20% from FY 2020). Net income: JP¥21.3b (up 62% from FY 2020). Profit margin: 9.5% (up from 7.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 2.0%, compared to a 23% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Aankondiging • Feb 15
HORIBA, Ltd. Announces Dividend for the Year Ended December 31, 2021, Payable on March 7, 2022 HORIBA, Ltd. announced that at its board meeting held on February 14, 2022, passed a resolution to distribute dividend of JPY 100 per share for the year ended December 31, 2021 against JPY 60 per share paid for the same period a year ago. Record date is December 31, 2021. Effective date is March 7, 2022. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 08 March 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (0.6%). Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS JP¥118 (vs JP¥63.16 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥52.6b (up 18% from 3Q 2020). Net income: JP¥4.98b (up 87% from 3Q 2020). Profit margin: 9.5% (up from 5.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Aankondiging • Aug 12
HORIBA, Ltd. Revises Consolidated Earnings Guidance for the Year Ending December 31, 2021 HORIBA, Ltd. revised consolidated earnings guidance for the year ending December 31, 2021. For the year, the company now expects net sales to be JPY 220,000 million against previous forecast of JPY 210,000 million. Operating income to be JPY 28,500 million against previous forecast of JPY 24,500 million. Net income attributable to owners of parent to be JPY 18,500 million against previous forecast of JPY 16,000 million. Net income attributable to owners of the parent per share to be JPY 438.42. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 01 September 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.1%). Higher than average of industry peers (0.7%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS JP¥92.42 (vs JP¥54.22 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥48.6b (up 8.0% from 1Q 2020). Net income: JP¥3.90b (up 71% from 1Q 2020). Profit margin: 8.0% (up from 5.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS JP¥313 (vs JP¥367 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥187.1b (down 6.6% from FY 2019). Net income: JP¥13.2b (down 15% from FY 2019). Profit margin: 7.0% (down from 7.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.