DB:RKD

Stock Analysis Report

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Executive Summary

Rock Field Co., Ltd. engages in the manufacture and sale of sozai products in Japan.


Snowflake Analysis

Flawless balance sheet second-rate dividend payer.

Share Price & News

How has Rock Field's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RKD has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.9%

RKD

5.6%

DE Food

2.2%

DE Market


1 Year Return

-14.1%

RKD

-1.0%

DE Food

-3.9%

DE Market

Return vs Industry: RKD underperformed the German Food industry which returned -1% over the past year.

Return vs Market: RKD underperformed the German Market which returned -3.9% over the past year.


Shareholder returns

RKDIndustryMarket
7 Day0.9%5.6%2.2%
30 Day-0.9%9.0%8.0%
90 Day3.7%-4.8%-9.6%
1 Year-12.0%-14.1%0.5%-1.0%-2.3%-3.9%
3 Year-23.6%-28.0%-13.3%-18.5%-7.6%-14.8%
5 Year37.7%26.0%14.7%4.4%-0.3%-12.9%

Price Volatility Vs. Market

How volatile is Rock Field's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Rock Field undervalued compared to its fair value and its price relative to the market?

25.38x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: RKD (€11.3) is trading above our estimate of fair value (€10.89)

Significantly Below Fair Value: RKD is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: RKD is poor value based on its PE Ratio (25.4x) compared to the Food industry average (25.2x).

PE vs Market: RKD is poor value based on its PE Ratio (25.4x) compared to the German market (18.7x).


Price to Earnings Growth Ratio

PEG Ratio: RKD's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: RKD is good value based on its PB Ratio (1.3x) compared to the DE Food industry average (1.8x).


Next Steps

Future Growth

How is Rock Field forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-21.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RKD's earnings are forecast to decline over the next 3 years (-21% per year).

Earnings vs Market: RKD's earnings are forecast to decline over the next 3 years (-21% per year).

High Growth Earnings: RKD's earnings are forecast to decline over the next 3 years.

Revenue vs Market: RKD's revenue is expected to decline over the next 3 years (-3.2% per year).

High Growth Revenue: RKD's revenue is forecast to decline over the next 3 years (-3.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if RKD's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Rock Field performed over the past 5 years?

4.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RKD has high quality earnings.

Growing Profit Margin: RKD's current net profit margins (2.8%) are lower than last year (3.7%).


Past Earnings Growth Analysis

Earnings Trend: RKD's earnings have grown by 4.9% per year over the past 5 years.

Accelerating Growth: RKD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: RKD had negative earnings growth (-25.6%) over the past year, making it difficult to compare to the Food industry average (-24.1%).


Return on Equity

High ROE: RKD's Return on Equity (4.9%) is considered low.


Next Steps

Financial Health

How is Rock Field's financial position?


Financial Position Analysis

Short Term Liabilities: RKD's short term assets (¥18.7B) exceed its short term liabilities (¥4.7B).

Long Term Liabilities: RKD's short term assets (¥18.7B) exceed its long term liabilities (¥1.9B).


Debt to Equity History and Analysis

Debt Level: RKD's debt to equity ratio (3.4%) is considered satisfactory.

Reducing Debt: RKD had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: RKD's debt is well covered by operating cash flow (326.1%).

Interest Coverage: RKD earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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

2.35%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RKD's dividend (2.35%) is higher than the bottom 25% of dividend payers in the German market (1.35%).

High Dividend: RKD's dividend (2.35%) is low compared to the top 25% of dividend payers in the German market (4.05%).


Stability and Growth of Payments

Stable Dividend: RKD's dividend payments have been volatile in the past 10 years.

Growing Dividend: RKD's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (59.8%), RKD's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Kozo Iwata (79yo)

5.83yrs

Tenure

Mr. Kozo Iwata has been the President of Rock Field Co since July 2014. Mr. Iwata established Kobe Delicatessen in May 1986 and serves as its President and Chief Executive Officer. He served as General Man ...


Leadership Team

NamePositionTenureCompensationOwnership
Kozo Iwata
Chairman of the Board & President5.83yrsno data11.6% ¥35.7m
Osamu Izawa
GM of Administration Division & Directorno datano data0.019% ¥57.9k
Hiroshi Endo
Senior Executive Officer2.83yrsno data0.0075% ¥23.2k
Toshihiro Hosomi
Senior MD7.83yrsno data0.064% ¥196.9k
Takashi Furutsuka
VP, Head of Production Division5.83yrsno data0.11% ¥347.4k
Yoshiaki Tsugeno
Senior Executive Officer & GM of Purchase Divisionno datano datano data
Hideo Ichinomiya
Senior Executive Officer & Deputy GM of Purchase Divisionno datano datano data
Mikio Ido
Senior Executive Officer & GM of Production Divisionno datano datano data
Kotaro Yoshii
Executive Officer & GM of Planning Developmentno datano datano data

2.8yrs

Average Tenure

57yo

Average Age

Experienced Management: RKD's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kozo Iwata
Chairman of the Board & President5.83yrsno data11.6% ¥35.7m
Osamu Izawa
GM of Administration Division & Directorno datano data0.019% ¥57.9k
Hiroshi Endo
Senior Executive Officer2.83yrsno data0.0075% ¥23.2k
Toshihiro Hosomi
Senior MD7.83yrsno data0.064% ¥196.9k
Takashi Furutsuka
VP, Head of Production Division5.83yrsno data0.11% ¥347.4k
Atsushi Horiba
External Director19.83yrsno datano data
Chiyono Terada
External Director15.83yrsno datano data
Minoru Okuda
Outside Audit & Supervisory Board Member14.83yrsno datano data
Goro Oka
Full-Time Audit & Supervisory Board Member8.83yrsno data0.015% ¥46.3k
Takao Ishimura
Outside Audit & Supervisory Board8.83yrsno datano data

8.8yrs

Average Tenure

67yo

Average Age

Experienced Board: RKD's board of directors are considered experienced (8.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Rock Field Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Rock Field Co., Ltd.
  • Ticker: RKD
  • Exchange: DB
  • Founded: 1972
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: JP¥36.116b
  • Listing Market Cap: JP¥307.768m
  • Shares outstanding: 26.58m
  • Website: https://www.rockfield.co.jp

Number of Employees


Location

  • Rock Field Co., Ltd.
  • 15-2 Uozakihama-machi
  • Higashinada-ku
  • Kobe
  • Hyogo
  • 658-0024
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2910TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYMay 1992
RKDDB (Deutsche Boerse AG)YesCommon SharesDEEURMay 1992

Biography

Rock Field Co., Ltd. engages in the manufacture and sale of sozai products in Japan. It markets its products under the RF1, Kobe Croquettes, Vegeteria, Itohan, Yugo, and Green gourmet brand names. The company was founded in 1972 and is headquartered in Kobe, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/26 23:32
End of Day Share Price2020/05/26 00:00
Earnings2020/01/31
Annual Earnings2019/04/30


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.