Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €11.90, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Metals and Mining industry in Europe. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.91 per share. Announcement • May 22
Daido Steel Co., Ltd. to Report Q1, 2027 Results on Jul 28, 2026 Daido Steel Co., Ltd. announced that they will report Q1, 2027 results on Jul 28, 2026 Board Change • May 21
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: 5 independent directors. 7 non-independent directors. Independent Outside Director Ryuichiro Ono was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • May 21
Full year 2026 earnings released: EPS: JP¥162 (vs JP¥135 in FY 2025) Full year 2026 results: EPS: JP¥162 (up from JP¥135 in FY 2025). Revenue: JP¥578.1b (flat on FY 2025). Net income: JP¥32.6b (up 15% from FY 2025). Profit margin: 5.6% (up from 4.9% in FY 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • May 16
Daido Steel Co., Ltd., Annual General Meeting, Jun 25, 2026 Daido Steel Co., Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 09
Daido Steel Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Daido Steel Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Announcement • Nov 29
Daido Steel Co., Ltd. to Report Q3, 2026 Results on Jan 29, 2026 Daido Steel Co., Ltd. announced that they will report Q3, 2026 results on Jan 29, 2026 Announcement • Aug 14
Daido Steel Co., Ltd. to Report Q2, 2026 Results on Oct 30, 2025 Daido Steel Co., Ltd. announced that they will report Q2, 2026 results on Oct 30, 2025 Announcement • Jul 28
Daido Steel Co., Ltd. (TSE:5471) announces an Equity Buyback for 6,500,000 shares, representing 3.15% for ¥7,104.5 million. Daido Steel Co., Ltd. (TSE:5471) announces a share repurchase program. Under the program, the company will repurchase up to 6,500,000 shares, representing 3.15% of its issued share capital, for ¥ 7,104.5 million. The shares will be repurchased at ¥1,093 per share. The purpose of the program is to enhance capital efficiency and respond to changes in the business environment, as well as expanding shareholder returns. As of June 30, 2025, there are 206,281,450 outstanding shares (excluding treasury stock) and 10,962,395 treasury shares. Announcement • May 29
Daido Steel Co., Ltd. to Report Q1, 2026 Results on Jul 28, 2025 Daido Steel Co., Ltd. announced that they will report Q1, 2026 results on Jul 28, 2025 Announcement • May 08
Daido Steel Co., Ltd., Annual General Meeting, Jun 25, 2025 Daido Steel Co., Ltd., Annual General Meeting, Jun 25, 2025. Announcement • Feb 28
Daido Steel Co., Ltd. to Report Fiscal Year 2025 Results on May 08, 2025 Daido Steel Co., Ltd. announced that they will report fiscal year 2025 results on May 08, 2025 Announcement • Nov 29
Daido Steel Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Daido Steel Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Announcement • Nov 27
Daido Steel Co., Ltd. (TSE:5471) announces an Equity Buyback for 7,500,000 shares, representing 3.51% for ¥8,613.75 million. Daido Steel Co., Ltd. (TSE:5471) announces a share repurchase program. Under the program, the company will repurchase up to 7,500,000 shares, representing 3.51% of its issued share capital, for ¥ 8,613.75 million. The shares will be repurchased at ¥ 1,148.5 per share. The purpose of the program is to enhance capital efficiency and respond to changes in the business environment, as well as expanding shareholder returns. As of September 30, 2024, there are 213,681,295 outstanding shares (excluding treasury stock) and 3,562,550 treasury shares. Reported Earnings • Nov 01
Second quarter 2025 earnings released: EPS: JP¥25.22 (vs JP¥24.16 in 2Q 2024) Second quarter 2025 results: EPS: JP¥25.22 (up from JP¥24.16 in 2Q 2024). Revenue: JP¥141.3b (down 3.6% from 2Q 2024). Net income: JP¥5.38b (up 4.4% from 2Q 2024). Profit margin: 3.8% (up from 3.5% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.2%). Announcement • Aug 17
Daido Steel Co., Ltd. to Report Q2, 2025 Results on Oct 30, 2024 Daido Steel Co., Ltd. announced that they will report Q2, 2025 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €7.20, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Metals and Mining industry in Europe. Total returns to shareholders of 6.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.81 per share. Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥31.79 (vs JP¥29.63 in 1Q 2024) First quarter 2025 results: EPS: JP¥31.79 (up from JP¥29.63 in 1Q 2024). Revenue: JP¥142.1b (flat on 1Q 2024). Net income: JP¥6.78b (up 7.3% from 1Q 2024). Profit margin: 4.8% (up from 4.4% in 1Q 2024). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥21.00 announced Shareholders will receive a dividend of JP¥21.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 264%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 02
Daido Steel Co., Ltd. to Report Q1, 2025 Results on Jul 29, 2024 Daido Steel Co., Ltd. announced that they will report Q1, 2025 results on Jul 29, 2024 Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥233 (vs JP¥171 in FY 2023) Full year 2024 results: EPS: JP¥233 (up from JP¥171 in FY 2023). Revenue: JP¥581.3b (flat on FY 2023). Net income: JP¥49.8b (up 37% from FY 2023). Profit margin: 8.6% (up from 6.3% in FY 2023). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Daido Steel Co., Ltd., Annual General Meeting, Jun 26, 2024 Daido Steel Co., Ltd., Annual General Meeting, Jun 26, 2024. Announcement • Mar 28
Daido Steel Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Daido Steel Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.3%). New Risk • Feb 02
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 41% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Dec 01
Daido Steel Co., Ltd. to Report Q3, 2024 Results on Jan 31, 2024 Daido Steel Co., Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: JP¥121 (vs JP¥198 in 2Q 2023) Second quarter 2024 results: EPS: JP¥121 (down from JP¥198 in 2Q 2023). Revenue: JP¥146.7b (up 1.7% from 2Q 2023). Net income: JP¥5.15b (down 39% from 2Q 2023). Profit margin: 3.5% (down from 5.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.7%. The fair value is estimated to be €44.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings is also forecast to grow by 1.8% per annum over the same time period. Buying Opportunity • Oct 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.4%. The fair value is estimated to be €43.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings is also forecast to grow by 1.8% per annum over the same time period. Announcement • Sep 28
Daido Steel Co., Ltd. to Report Q2, 2024 Results on Oct 30, 2023 Daido Steel Co., Ltd. announced that they will report Q2, 2024 results on Oct 30, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥100.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.5%). Buying Opportunity • Aug 17
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €44.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings is also forecast to grow by 2.1% per annum over the same time period. Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥148 (vs JP¥231 in 1Q 2023) First quarter 2024 results: EPS: JP¥148 (down from JP¥231 in 1Q 2023). Revenue: JP¥141.9b (up 3.1% from 1Q 2023). Net income: JP¥6.32b (down 36% from 1Q 2023). Profit margin: 4.4% (down from 7.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 15
Now 20% undervalued Over the last 90 days, the stock is up 2.9%. The fair value is estimated to be €45.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 73%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings is also forecast to grow by 0.5% per annum over the same time period. Announcement • May 28
Daido Steel Co., Ltd. to Report Q1, 2024 Results on Jul 28, 2023 Daido Steel Co., Ltd. announced that they will report Q1, 2024 results on Jul 28, 2023 Buying Opportunity • May 19
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €44.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 73%. For the next 3 years, revenue is forecast to grow by 1.6% per annum. Earnings is also forecast to grow by 1.0% per annum over the same time period. Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: JP¥855 (vs JP¥631 in FY 2022) Full year 2023 results: EPS: JP¥855 (up from JP¥631 in FY 2022). Revenue: JP¥578.6b (up 9.2% from FY 2022). Net income: JP¥36.4b (up 36% from FY 2022). Profit margin: 6.3% (up from 5.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 1.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 25
Now 21% undervalued Over the last 90 days, the stock is up 4.3%. The fair value is estimated to be €43.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 59%. For the next 3 years, revenue is forecast to grow by 1.2% per annum. Earnings is also forecast to grow by 1.0% per annum over the same time period. Buying Opportunity • Apr 11
Now 22% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be €43.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 59%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings is also forecast to grow by 1.0% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥100.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.6%). Buying Opportunity • Mar 11
Now 22% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be €47.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 59%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings is also forecast to grow by 1.1% per annum over the same time period. Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: JP¥232 (vs JP¥220 in 3Q 2022) Third quarter 2023 results: EPS: JP¥232 (up from JP¥220 in 3Q 2022). Revenue: JP¥152.9b (up 13% from 3Q 2022). Net income: JP¥9.89b (up 5.6% from 3Q 2022). Profit margin: 6.5% (down from 6.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.4% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Dec 14
Daido Steel Co., Ltd. to Report Q3, 2023 Results on Jan 30, 2023 Daido Steel Co., Ltd. announced that they will report Q3, 2023 results on Jan 30, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: JP¥144.2b (up 16% from 2Q 2022). Net income: JP¥8.44b (up 62% from 2Q 2022). Profit margin: 5.9% (up from 4.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: JP¥198 (vs JP¥122 in 2Q 2022) Second quarter 2023 results: EPS: JP¥198 (up from JP¥122 in 2Q 2022). Revenue: JP¥144.2b (up 16% from 2Q 2022). Net income: JP¥8.44b (up 62% from 2Q 2022). Profit margin: 5.9% (up from 4.2% in 2Q 2022). 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 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Sep 29
Daido Steel Co., Ltd. to Report Q2, 2023 Results on Oct 28, 2022 Daido Steel Co., Ltd. announced that they will report Q2, 2023 results on Oct 28, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (10%). Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥231 (vs JP¥179 in 1Q 2022) First quarter 2023 results: EPS: JP¥231 (up from JP¥179 in 1Q 2022). Revenue: JP¥137.7b (up 4.9% from 1Q 2022). Net income: JP¥9.86b (up 29% from 1Q 2022). Profit margin: 7.2% (up from 5.8% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.6%, compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 20
Daido Steel Co., Ltd. to Report Q1, 2023 Results on Jul 29, 2022 Daido Steel Co., Ltd. announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥631 (vs JP¥106 in FY 2021) Full year 2022 results: EPS: JP¥631 (up from JP¥106 in FY 2021). Revenue: JP¥529.7b (up 28% from FY 2021). Net income: JP¥26.9b (up 496% from FY 2021). Profit margin: 5.1% (up from 1.1% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.8%, compared to a 32% growth forecast for the mining 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 fallen by 9% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Chairperson of the Board Tadashi Shimao is the most experienced director on the board, commencing their role in 2016. Independent Outside Director Ryoichi Yamamoto 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. Lack of experienced directors. Announcement • Apr 08
Daido Steel Co., Ltd. to Report Fiscal Year 2022 Results on Apr 28, 2022 Daido Steel Co., Ltd. announced that they will report fiscal year 2022 results on Apr 28, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 27 June 2022. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 5.3%. Within top quartile of German dividend payers (3.6%). Lower than average of industry peers (8.1%). Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €26.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Metals and Mining industry in Europe. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €45.29 per share. Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥220 (up from JP¥92.45 in 3Q 2021). Revenue: JP¥135.3b (up 26% from 3Q 2021). Net income: JP¥9.36b (up 138% from 3Q 2021). Profit margin: 6.9% (up from 3.7% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 2.7%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Dec 02
Daido Steel Co., Ltd. (TSE:5471) made an tender offer to acquire additional 8.1% stake in Nippon Seisen Co.,Ltd. (TSE:5659) for ¥2.6 billion. Daido Steel Co., Ltd. (TSE:5471) made an tender offer to acquire additional 8.1% stake in Nippon Seisen Co.,Ltd. (TSE:5659) for ¥2.6 billion on November 30, 2021. Daido Steel Co., Ltd. will acquire 0.4 million shares at ¥5300 per share. Tender offer will begin on December 1, 2021 and will end on January 18, 2022. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥122 (vs JP¥17.95 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥124.0b (up 37% from 2Q 2021). Net income: JP¥5.21b (up JP¥5.98b from 2Q 2021). Profit margin: 4.2% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. 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 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 07 December 2021. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (7.2%). Announcement • Aug 19
Daido Steel Co., Ltd. (TSE:5471) reached a basic agreement to acquire Nisc-Hanbai Co. from Nippon Steel Coated Sheet Corporation and others. Daido Steel Co., Ltd. (TSE:5471) reached a basic agreement to acquire Nisc-Hanbai Co. from Nippon Steel Coated Sheet Corporation and others on August 17, 2021. Transaction will be implemented as absorption-type merger with Daido Steel as the surviving company and Nisc-Hanbai as the extinct company. If the merger is implemented, Nippon Steel Coated Sheet Corporation is expected to hold a majority stake in the merged company. Merger is expected to complete on April 1, 2022. Reported Earnings • Jun 29
Full year 2021 earnings released: EPS JP¥106 (vs JP¥258 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥412.7b (down 16% from FY 2020). Net income: JP¥4.52b (down 59% from FY 2020). Profit margin: 1.1% (down from 2.2% in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥44.80, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 5.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €65.23 per share. Reported Earnings • May 02
Full year 2021 earnings released: EPS JP¥106 (vs JP¥258 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥412.7b (down 16% from FY 2020). Net income: JP¥4.52b (down 59% from FY 2020). Profit margin: 1.1% (down from 2.2% in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming Dividend of JP¥10.00 Per Share Will be paid on the 26th of June to those who are registered shareholders by the 30th of March. The trailing yield of 0.4% is below the top quartile of German dividend payers (3.3%), and is lower than industry peers (4.7%). Is New 90 Day High Low • Mar 16
New 90-day high: €37.40 The company is up 6.0% from a price of €35.20 on 16 December 2020. Underperformed the German market, which is up 9.0% over the last 90 days. Lagged the Metals and Mining industry, which is up 41% over the same period. Simply Wall St's valuation model estimates the intrinsic value at €33.62 per share. Announcement • Mar 04
Daido Steel Co., Ltd. to Report Fiscal Year 2021 Results on Apr 30, 2021 Daido Steel Co., Ltd. announced that they will report fiscal year 2021 results on Apr 30, 2021 Is New 90 Day High Low • Feb 03
New 90-day high: €37.00 The company is up 28% from its price of €28.80 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 64% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €40.58 per share. Reported Earnings • Feb 01
Third quarter 2021 earnings released: EPS JP¥92.45 (vs JP¥115 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥107.6b (down 11% from 3Q 2020). Net income: JP¥3.94b (down 20% from 3Q 2020). Profit margin: 3.7% (down from 4.0% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 01
Revenue beats expectations Revenue exceeded analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 9.8%, compared to a 14% growth forecast for the Metals and Mining industry in Germany. Is New 90 Day High Low • Jan 12
New 90-day high: €35.80 The company is up 36% from its price of €26.40 on 14 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 56% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €41.01 per share. Announcement • Nov 27
Daido Steel Co., Ltd. to Report Q3, 2021 Results on Jan 29, 2021 Daido Steel Co., Ltd. announced that they will report Q3, 2021 results on Jan 29, 2021 Analyst Estimate Surprise Post Earnings • Nov 17
Revenue beats expectations Revenue exceeded analyst estimates by 5.6%. Over the next year, revenue is expected to shrink by 16% compared to a 8.6% growth forecast for the Metals and Mining industry in Germany. Reported Earnings • Nov 17
Second quarter 2021 earnings released: EPS JP¥54.38 The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: JP¥179.5b (up 44% from 2Q 2020). Net income: JP¥2.32b (up 31% from 2Q 2020). Profit margin: 1.3% (down from 1.4% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 07
New 90-day high: €29.60 The company is up 19% from its price of €24.80 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €35.55 per share. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total losses of JP¥2.59b, with earnings decreasing by JP¥24.3b from the prior year. Total revenue was JP¥417.4b over the last 12 months, down 21% from the prior year. Analyst Estimate Surprise Post Earnings • Nov 01
Semi-annual earnings released: Revenue beats expectations Semi-annual revenue exceeded analyst estimates by 5.6% at JP¥179.5b. Revenue is forecast to stay flat over the next year, compared to a 8.1% growth forecast for the Metals and Mining industry in Germany. Is New 90 Day High Low • Oct 21
New 90-day high: €27.60 The company is up 1.0% from its price of €27.40 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €27.17 per share. Announcement • Aug 24
Daido Steel Co., Ltd. to Report Q2, 2021 Results on Oct 30, 2020 Daido Steel Co., Ltd. announced that they will report Q2, 2021 results on Oct 30, 2020 Announcement • Jun 29
Daido Steel Co., Ltd. to Report Q1, 2021 Results on Jul 28, 2020 Daido Steel Co., Ltd. announced that they will report Q1, 2021 results on Jul 28, 2020