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IHI

DB:IWJ
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IWJ
DB
¥394B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

IHI Corporation, together with its subsidiaries, manufactures and sells machinery and equipment in Japan, the Americas, Europe, the Asia Pacific, and internationally. The last earnings update was 41 days ago. More info.


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IWJ Share Price and Events
7 Day Returns
0.9%
DB:IWJ
0.2%
DE Machinery
0.2%
DE Market
1 Year Returns
-32.9%
DB:IWJ
-26.8%
DE Machinery
-10.9%
DE Market
IWJ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
IHI (IWJ) 0.9% 6.2% -2% -32.9% -10.7% -36.9%
DE Machinery 0.2% -2.9% -1.8% -26.8% -13.7% 1.1%
DE Market 0.2% -2.5% -2% -10.9% 8.9% 6.3%
1 Year Return vs Industry and Market
  • IWJ underperformed the Machinery industry which returned -26.8% over the past year.
  • IWJ underperformed the Market in Germany which returned -10.9% over the past year.
Price Volatility
IWJ
Industry
5yr Volatility vs Market

Value

 Is IHI undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of IHI to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for IHI.

DB:IWJ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:IWJ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.061 (1 + (1- 30.86%) (89.37%))
1.481
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.48
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.481 * 5.96%)
9.05%

Discounted Cash Flow Calculation for DB:IWJ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for IHI is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:IWJ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 9.05%)
2019 -18,200.00 Analyst x3 -16,689.24
2020 2,440.00 Analyst x5 2,051.73
2021 48,629.00 Analyst x5 37,496.54
2022 43,190.00 Analyst x5 30,538.26
2023 39,635.39 Est @ -8.23% 25,698.61
2024 37,379.07 Est @ -5.69% 22,223.89
2025 35,915.12 Est @ -3.92% 19,580.97
2026 34,955.05 Est @ -2.67% 17,475.60
2027 34,324.88 Est @ -1.8% 15,736.08
2028 33,915.19 Est @ -1.19% 14,257.62
Present value of next 10 years cash flows ¥168,370.07
DB:IWJ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥33,915.19 × (1 + 0.23%) ÷ (9.05% – 0.23%)
¥385,216.13
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥385,216.13 ÷ (1 + 9.05%)10
¥161,941.18
DB:IWJ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥168,370.07 + ¥161,941.18
¥330,311.25
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥330,311.25 / 154.29
¥2140.82
DB:IWJ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:IWJ represents 0.00813x of TSE:7013
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00813x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,140.82 x 0.00813
€17.41
Value per share (EUR) From above. €17.41
Current discount Discount to share price of €20.75
= -1 x (€20.75 - €17.41) / €17.41
-19.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of IHI is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for IHI's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are IHI's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:IWJ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥258.53
TSE:7013 Share Price ** TSE (2019-06-18) in JPY ¥2552
Germany Machinery Industry PE Ratio Median Figure of 37 Publicly-Listed Machinery Companies 15.74x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.63x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of IHI.

DB:IWJ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:7013 Share Price ÷ EPS (both in JPY)

= 2552 ÷ 258.53

9.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • IHI is good value based on earnings compared to the DE Machinery industry average.
  • IHI is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does IHI's expected growth come at a high price?
Raw Data
DB:IWJ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
13%per year
Germany Machinery Industry PEG Ratio Median Figure of 29 Publicly-Listed Machinery Companies 1.44x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

DB:IWJ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.87x ÷ 13%

0.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • IHI is good value based on expected growth next year.
Price based on value of assets
What value do investors place on IHI's assets?
Raw Data
DB:IWJ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥2,267.39
TSE:7013 Share Price * TSE (2019-06-18) in JPY ¥2552
Germany Machinery Industry PB Ratio Median Figure of 46 Publicly-Listed Machinery Companies 1.71x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.77x
DB:IWJ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:7013 Share Price ÷ Book Value per Share (both in JPY)

= 2552 ÷ 2,267.39

1.13x

* Primary Listing of IHI.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • IHI is good value based on assets compared to the DE Machinery industry average.
X
Value checks
We assess IHI's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. IHI has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is IHI expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is IHI expected to grow at an attractive rate?
  • IHI's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • IHI's earnings growth is expected to exceed the Germany market average.
  • IHI's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:IWJ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:IWJ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 13%
DB:IWJ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 0.7%
Germany Machinery Industry Earnings Growth Rate Market Cap Weighted Average 11.1%
Germany Machinery Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:IWJ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:IWJ Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 1,529,550 67,000 2
2023-03-31 1,525,667 113,373 64,800 3
2022-03-31 1,491,122 117,172 61,761 9
2021-03-31 1,476,264 114,492 53,016 11
2020-03-31 1,441,540 113,908 40,478 10
DB:IWJ Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 1,483,442 46,402 39,889
2018-12-31 1,506,253 32,624
2018-09-30 1,516,349 53,153 29,838
2018-06-30 1,525,084 2,715
2018-03-31 1,590,333 99,018 8,291
2017-12-31 1,579,426 24,261
2017-09-30 1,568,024 66,208 17,385
2017-06-30 1,547,334 16,119
2017-03-31 1,486,332 65,373 5,247
2016-12-31 1,519,414 26,642
2016-09-30 1,542,916 161,677 180
2016-06-30 1,540,029 2,423

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • IHI's earnings are expected to grow by 13% yearly, however this is not considered high growth (20% yearly).
  • IHI's revenue is expected to grow by 0.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:IWJ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from IHI Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IWJ Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31 30.60 30.60 30.60 1.00
2022-03-31 355.88 434.20 30.60 10.00
2021-03-31 338.13 382.20 277.35 12.00
2020-03-31 259.11 298.05 223.60 10.00
DB:IWJ Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 258.53
2018-12-31 211.43
2018-09-30 193.35
2018-06-30 17.59
2018-03-31 53.71
2017-12-31 157.15
2017-09-30 112.59
2017-06-30 104.38
2017-03-31 33.98
2016-12-31 172.55
2016-09-30 1.17
2016-06-30 15.69

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • IHI is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess IHI's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
IHI has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has IHI performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare IHI's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • IHI's year on year earnings growth rate has been positive over the past 5 years.
  • IHI's 1-year earnings growth exceeds its 5-year average (381.1% vs 7.4%)
  • IHI's earnings growth has exceeded the DE Machinery industry average in the past year (381.1% vs -5.8%).
Earnings and Revenue History
IHI's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from IHI Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IWJ Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,483,442.00 39,889.00 195,241.00
2018-12-31 1,506,253.00 32,624.00 194,622.00
2018-09-30 1,516,349.00 29,838.00 197,346.00 -49.00
2018-06-30 1,525,084.00 2,715.00 197,025.00
2018-03-31 1,590,333.00 8,291.00 155,479.00 35,919.00
2017-12-31 1,579,426.00 24,261.00 202,827.00
2017-09-30 1,568,024.00 17,385.00 199,178.00 1,259.00
2017-06-30 1,547,334.00 16,119.00 199,152.00
2017-03-31 1,486,332.00 5,247.00 152,690.00 32,391.00
2016-12-31 1,519,414.00 26,642.00 140,586.00 37,685.00
2016-09-30 1,542,916.00 180.00 145,339.00 34,390.00
2016-06-30 1,540,029.00 2,423.00 143,154.00 37,685.00
2016-03-31 1,539,388.00 1,529.00 143,371.00 37,685.00
2015-12-31 1,539,957.00 -52,093.00 197,573.00
2015-09-30 1,527,971.00 -15,771.00 124,321.00 49,013.00
2015-06-30 1,515,334.00 2,504.00 143,006.00 32,674.00
2015-03-31 1,455,844.00 9,082.00 137,647.00 32,674.00
2014-12-31 1,406,587.00 28,706.00 138,351.00 29,510.00
2014-09-30 1,373,877.00 41,326.00 137,290.00 29,510.00
2014-06-30 1,332,351.00 30,500.00 135,283.00 29,510.00
2014-03-31 1,304,038.00 33,133.00 133,273.00 29,510.00
2013-12-31 1,259,440.00 46,711.00 132,349.00 26,364.00
2013-09-30 1,237,360.00 34,297.00 130,194.00 26,364.00
2013-06-30 1,236,159.00 38,195.00 126,725.00 26,364.00
2013-03-31 1,256,049.00 33,386.00 123,623.00 26,364.00
2012-12-31 1,257,681.00 25,034.00 124,838.00 27,239.00
2012-09-30 1,260,958.00 30,637.00 122,640.00 27,239.00
2012-06-30 1,243,398.00 23,029.00 122,146.00 27,239.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • IHI has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • IHI used its assets less efficiently than the DE Machinery industry average last year based on Return on Assets.
  • IHI has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess IHI's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
IHI has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is IHI's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up IHI's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • IHI is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • IHI's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of IHI's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from IHI Company Filings, last reported 2 months ago.

DB:IWJ Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 381,692.00 351,905.00 94,951.00
2018-12-31 376,495.00 423,339.00 86,967.00
2018-09-30 380,771.00 347,822.00 101,542.00
2018-06-30 352,889.00 321,668.00 93,931.00
2018-03-31 350,217.00 317,262.00 109,028.00
2017-12-31 350,411.00 344,024.00 110,307.00
2017-09-30 348,127.00 317,136.00 116,894.00
2017-06-30 350,706.00 332,913.00 112,283.00
2017-03-31 337,630.00 365,388.00 118,909.00
2016-12-31 319,018.00 403,342.00 111,237.00
2016-09-30 312,075.00 325,787.00 80,358.00
2016-06-30 321,705.00 345,657.00 107,758.00
2016-03-31 333,359.00 369,603.00 107,786.00
2015-12-31 309,947.00 456,001.00 88,460.00
2015-09-30 348,822.00 445,588.00 92,664.00
2015-06-30 354,634.00 413,146.00 95,775.00
2015-03-31 359,595.00 406,629.00 94,605.00
2014-12-31 368,193.00 432,738.00 87,311.00
2014-09-30 360,675.00 396,895.00 68,645.00
2014-06-30 346,381.00 362,154.00 74,725.00
2014-03-31 362,555.00 354,180.00 64,764.00
2013-12-31 339,149.00 400,368.00 77,828.00
2013-09-30 316,038.00 351,452.00 69,558.00
2013-06-30 308,033.00 326,951.00 76,263.00
2013-03-31 299,282.00 350,142.00 73,427.00
2012-12-31 275,252.00 390,348.00 76,888.00
2012-09-30 266,589.00 313,706.00 71,364.00
2012-06-30 262,265.00 283,497.00 50,709.00
  • IHI's level of debt (92.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (97.8% vs 92.2% today).
  • Debt is not well covered by operating cash flow (13.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 67x coverage).
X
Financial health checks
We assess IHI's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. IHI has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is IHI's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.74%
Current annual income from IHI dividends. Estimated to be 3.51% next year.
If you bought €2,000 of IHI shares you are expected to receive €55 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • IHI's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • IHI's dividend is below the markets top 25% of dividend payers in Germany (3.94%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:IWJ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Germany Machinery Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:IWJ Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31 154.37 1.00
2022-03-31 99.92 8.00
2021-03-31 89.91 11.00
2020-03-31 77.08 12.00
DB:IWJ Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-05-08 70.000 2.870
2019-02-13 60.000 2.154
2019-02-07 60.000 1.854
2018-11-27 60.000 1.819
2018-11-12 60.000 1.608
2018-11-01 60.000 1.475
2018-06-22 60.000 1.496
2018-05-09 60.000 1.494
2018-02-14 60.000 1.720
2018-02-06 60.000 1.704
2017-11-14 60.000 1.639
2017-11-01 60.000 1.655
2017-06-23 60.000 1.584
2017-05-09 60.000 1.484
2017-02-13 0.000 0.000
2017-02-01 0.000 0.000
2016-11-11 0.000 0.000
2016-11-01 0.000 0.000
2016-06-24 60.000 2.073
2016-05-10 60.000 2.216
2016-02-12 60.000 2.731
2016-02-02 60.000 3.219
2015-11-12 60.000 1.953
2015-11-04 60.000 1.731
2015-06-25 60.000 1.495
2015-05-08 60.000 1.030
2015-02-12 60.000 1.098
2015-02-03 60.000 1.079
2014-11-13 60.000 0.999
2014-11-05 60.000 1.066
2014-06-27 60.000 1.203
2014-05-08 60.000 1.404
2013-06-27 50.000 1.175
2013-05-08 50.000 1.339
2012-08-10 40.000 1.871
2012-07-27 40.000 2.447
2012-06-22 40.000 2.412
2012-05-08 40.000 2.446
2012-02-03 30.000 1.500
2011-07-29 30.000 1.646
2011-06-24 30.000 1.447
2011-05-06 30.000 1.536
2010-06-25 20.000 1.162
2010-05-07 20.000 1.253
2010-02-10 0.000 0.000
2010-02-08 0.000 0.000
2010-02-05 0.000 0.000
2009-11-12 0.000 0.000
2009-11-02 0.000 0.000
2009-08-12 0.000 0.000
2009-08-03 0.000 0.000
2009-06-26 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • IHI has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but IHI only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of IHI's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess IHI's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can IHI afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. IHI has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of IHI's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tsugio Mitsuoka
AGE 64
CEO Bio

Mr. Tsugio Mitsuoka has been the President at IHI Corporation since April 01, 2016 and has been its Chief Executive Officer and also served as its Chief Operating Officer since April 2017. Mr. Mitsuoka served as Managing Executive Officer and General Manager of Aerospace Business Division at IHI Corporation since April 2013 until April 01, 2016 and was its Deputy General Manager of Advanced Information Management Division since April 2008 and was its President of Aero-Engine & Space Operations since April 2013. Mr. Mitsuoka has been a Director of IHI Corporation since June 2014.

CEO Compensation
  • Insufficient data for Tsugio to compare compensation growth.
  • Insufficient data for Tsugio to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the IHI management team in years:

3.2
Average Tenure
63
Average Age
  • The tenure for the IHI management team is about average.
Management Team

Tamotsu Saito

TITLE
Chairman & GM of Monozukuri System Strategy Planning Headquarters
COMPENSATION
¥115M
AGE
66
TENURE
3.2 yrs

Tsugio Mitsuoka

TITLE
President
AGE
64

Takeshi Yamada

TITLE
Senior Executive Officer
AGE
60
TENURE
2.2 yrs

Kazuki Awai

TITLE
Managing Executive Officer & GM of Administration Division
AGE
59

Takayoshi Shirai

TITLE
General Manager of Public Relations Division

Hiroyuki Otani

TITLE
Executive VP
AGE
63
TENURE
6.2 yrs

Junichi Sakaki

TITLE
Managing Executive Officer
AGE
64
TENURE
3.2 yrs

Tomoharu Shikina

TITLE
Managing Executive Officer & Director
AGE
60
TENURE
3.2 yrs

Yoshinori Kawasaki

TITLE
Managing Executive Officer and VP of Industrial Systems & General-Purpose Machinery Business Area
TENURE
0.2 yrs

Hiroshi Ide

TITLE
Managing Executive Officer and President of Resources
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the IHI board of directors in years:

3.2
Average Tenure
63
Average Age
  • The tenure for the IHI board of directors is about average.
Board of Directors

Tamotsu Saito

TITLE
Chairman & GM of Monozukuri System Strategy Planning Headquarters
COMPENSATION
¥115M
AGE
66
TENURE
3.2 yrs

Tsugio Mitsuoka

TITLE
President
AGE
64
TENURE
5 yrs

Takeshi Yamada

TITLE
Senior Executive Officer
AGE
60
TENURE
2 yrs

Hiroyuki Otani

TITLE
Executive VP
AGE
63
TENURE
5 yrs

Tomoharu Shikina

TITLE
Managing Executive Officer & Director
AGE
60
TENURE
3 yrs

Nobuko Mizumoto

TITLE
Managing Executive Officer & Director

Masafumi Nagano

TITLE
Managing Executive Officer & Director

Kouichi Murakami

TITLE
Managing Executive Officer & Director

Yayoi Tanaka

TITLE
Outside Director
AGE
58
TENURE
2 yrs

Taketsugu Fujiwara

TITLE
Outside Director
AGE
71
TENURE
4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess IHI's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. IHI has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

IHI Corporation, together with its subsidiaries, manufactures and sells machinery and equipment in Japan, the Americas, Europe, the Asia Pacific, and internationally. It offers boilers, environment responsive systems, components for nuclear power plants, and facilities for nuclear fuel cycle plants, as well as gas turbine/diesel engines/gas engines. The company also provides LNG receiving terminals and storage tanks; equipment for plants; and engineering, procurement, construction, and start-up services for process and pharmaceutical plants. In addition, it offers bridges, water gates, and steel structures; shield tunneling machines, concrete construction materials, and transportation systems; and security and environmental monitoring systems, as well as constructs and refurbishes offshore structures. Further, the company provides air and process gas compressors, separators, and cryogenic products; lubricating systems; turbochargers for vehicles and ships; parking and logistics systems; materials handling systems; steelmaking equipment, such as industrial furnaces and stepping cylinders; heat and surface treatment equipment, factory automation systems, slitters, rubber and film calender lines, pulp and paper machinery, and grid scale energy storage systems; and agricultural machines, motors, and lawn mowers. Additionally, it offers aero engines and air traffic control systems; and rockets, rocket and satellite propulsion systems, systems for satellites, space station-related equipment, ground test facilities, sample containers, etc., as well as engage in real estate rental and sales business. The company was formerly known as Ishikawajima-Harima Heavy Industries Co., Ltd. and changed its name to IHI Corporation in 2007. IHI Corporation was founded in 1853 and is headquartered in Tokyo, Japan.

Details
Name: IHI Corporation
IWJ
Exchange: DB
Founded: 1853
¥3,243,242,059
154,291,608
Website: http://www.ihi.co.jp
Address: IHI Corporation
Toyosu IHI Building,
1-1, Toyosu 3-chome,
Tokyo,
135-8710,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 7013 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK IHIC.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB IWJ Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK IHIC.Y UNSPONSORED ADR Pink Sheets LLC US USD 30. Jan 2013
Number of employees
Current staff
Staff numbers
29,706
IHI employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 21:26
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/06/13
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.