Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Junko Yamaguchi was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 15
Dowa Holdings Co., Ltd., Annual General Meeting, Jun 24, 2026 Dowa Holdings Co., Ltd., Annual General Meeting, Jun 24, 2026. Announcement • Feb 17
Dowa Holdings Co., Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 Dowa Holdings Co., Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Announcement • Jan 07
Dowa Holdings Co., Ltd. announces Annual dividend, payable on June 13, 2026 Dowa Holdings Co., Ltd. announced Annual dividend of JPY 183.0000 per share payable on June 13, 2026, ex-date on March 30, 2026 and record date on March 31, 2026. Announcement • May 16
Dowa Holdings Co., Ltd. Announces Dividend for the Fiscal Year Ended March 31, 2025, Payable on June 13, 2025; Provides Dividend Guidance for the Fiscal Year Ending March 31, 2026 Dowa Holdings Co., Ltd. announced dividend of JPY 150.00 per share for the fiscal year ended March 31, 2025 as compared to dividend of JPY 130.00 per share a year ago. Scheduled date to commence dividend payments: June 13, 2025.
For the fiscal year ending March 31, 2026, the company expected dividend of JPY 159.00 per share as compared to JPY 150.00 per share a year ago. Announcement • Mar 05
Dowa Holdings Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Dowa Holdings Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: JP¥147 (vs JP¥89.57 in 2Q 2024) Second quarter 2025 results: EPS: JP¥147 (up from JP¥89.57 in 2Q 2024). Revenue: JP¥163.6b (down 9.0% from 2Q 2024). Net income: JP¥8.74b (up 64% from 2Q 2024). Profit margin: 5.3% (up from 3.0% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% 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 fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥198 (vs JP¥132 in 1Q 2024) First quarter 2025 results: EPS: JP¥198 (up from JP¥132 in 1Q 2024). Revenue: JP¥189.0b (down 1.0% from 1Q 2024). Net income: JP¥11.8b (up 50% from 1Q 2024). Profit margin: 6.2% (up from 4.1% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €27.60, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total loss to shareholders of 9.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.86 per share. Announcement • May 15
Dowa Holdings Co., Ltd., Annual General Meeting, Jun 25, 2024 Dowa Holdings Co., Ltd., Annual General Meeting, Jun 25, 2024. Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥468 (vs JP¥421 in FY 2023) Full year 2024 results: EPS: JP¥468 (up from JP¥421 in FY 2023). Revenue: JP¥717.2b (down 8.1% from FY 2023). Net income: JP¥27.9b (up 11% from FY 2023). Profit margin: 3.9% (up from 3.2% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.8% 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 fallen by 24% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Mar 28
Dowa Holdings Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Dowa Holdings Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥130 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.3%). Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥182 (vs JP¥76.20 in 3Q 2023) Third quarter 2024 results: EPS: JP¥182 (up from JP¥76.20 in 3Q 2023). Revenue: JP¥180.9b (down 5.3% from 3Q 2023). Net income: JP¥10.8b (up 139% from 3Q 2023). Profit margin: 6.0% (up from 2.4% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: JP¥89.57 (vs JP¥163 in 2Q 2023) Second quarter 2024 results: EPS: JP¥89.57 (down from JP¥163 in 2Q 2023). Revenue: JP¥179.8b (down 6.3% from 2Q 2023). Net income: JP¥5.33b (down 45% from 2Q 2023). Profit margin: 3.0% (down from 5.0% in 2Q 2023). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year. New Risk • Aug 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥132 (vs JP¥220 in 1Q 2023) First quarter 2024 results: EPS: JP¥132 (down from JP¥220 in 1Q 2023). Revenue: JP¥191.0b (down 9.0% from 1Q 2023). Net income: JP¥7.85b (down 40% from 1Q 2023). Profit margin: 4.1% (down from 6.2% in 1Q 2023). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Jun 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). Announcement • Jun 01
Dowa Holdings Co., Ltd. to Report Q1, 2024 Results on Aug 09, 2023 Dowa Holdings Co., Ltd. announced that they will report Q1, 2024 results on Aug 09, 2023 Announcement • May 17
Dowa Holdings Co., Ltd., Annual General Meeting, Jun 27, 2023 Dowa Holdings Co., Ltd., Annual General Meeting, Jun 27, 2023. Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥421 (vs JP¥857 in FY 2022) Full year 2023 results: EPS: JP¥421 (down from JP¥857 in FY 2022). Revenue: JP¥780.1b (down 6.2% from FY 2022). Net income: JP¥25.0b (down 51% from FY 2022). Profit margin: 3.2% (down from 6.1% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥105 per share at 2.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 05 June 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.6%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥76.19 (vs JP¥193 in 3Q 2022) Third quarter 2023 results: EPS: JP¥76.19 (down from JP¥193 in 3Q 2022). Revenue: JP¥191.1b (up 1.3% from 3Q 2022). Net income: JP¥4.54b (down 61% from 3Q 2022). Profit margin: 2.4% (down from 6.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 1.9% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥163 (vs JP¥213 in 2Q 2022) Second quarter 2023 results: EPS: JP¥163 (down from JP¥213 in 2Q 2022). Revenue: JP¥191.9b (down 11% from 2Q 2022). Net income: JP¥9.67b (down 24% from 2Q 2022). Profit margin: 5.0% (down from 5.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat 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 49% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Sato Kimio 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. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥163 (vs JP¥213 in 2Q 2022) Second quarter 2023 results: EPS: JP¥163 (down from JP¥213 in 2Q 2022). Revenue: JP¥191.9b (down 11% from 2Q 2022). Net income: JP¥9.67b (down 24% from 2Q 2022). Profit margin: 5.0% (down from 5.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥220 (vs JP¥335 in 1Q 2022) First quarter 2023 results: EPS: JP¥220 (down from JP¥335 in 1Q 2022). Revenue: JP¥209.9b (up 1.0% from 1Q 2022). Net income: JP¥13.1b (down 35% from 1Q 2022). Profit margin: 6.2% (down from 9.6% in 1Q 2022). Over the next year, revenue is forecast to grow 5.2%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Dowa Holdings Co., Ltd., Annual General Meeting, Jun 24, 2022 Dowa Holdings Co., Ltd., Annual General Meeting, Jun 24, 2022. Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥857 (vs JP¥368 in FY 2021) Full year 2022 results: EPS: JP¥857 (up from JP¥368 in FY 2021). Revenue: JP¥831.8b (up 42% from FY 2021). Net income: JP¥51.0b (up 134% from FY 2021). Profit margin: 6.1% (up from 3.7% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 39% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Sato Kimio 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. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥130 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 03 June 2022. Payout ratio is a comfortable 9.8% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (8.1%). Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 16% share price gain to €41.40, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Metals and Mining industry in Europe. Total returns to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €50.22 per share. Reported Earnings • Feb 16
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: JP¥193 (up from JP¥116 in 3Q 2021). Revenue: JP¥188.7b (up 25% from 3Q 2021). Net income: JP¥11.5b (up 68% from 3Q 2021). Profit margin: 6.1% (up from 4.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 9.4%. Over the next year, revenue is forecast to stay flat compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 26
Now 21% undervalued Over the last 90 days, the stock is up 6.9%. The fair value is estimated to be JP¥47.04, 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% per annum over the last 3 years. Earnings per share has grown by 34% per annum over the last 3 years. Reported Earnings • Nov 14
Second quarter 2022 earnings released: EPS JP¥213 (vs JP¥24.11 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥215.3b (up 57% from 2Q 2021). Net income: JP¥12.7b (up JP¥11.2b from 2Q 2021). Profit margin: 5.9% (up from 1.0% in 2Q 2021). The increase in margin was driven by higher revenue. 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 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥335 (vs JP¥3.19 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥207.9b (up 80% from 1Q 2021). Net income: JP¥19.9b (up JP¥19.8b from 1Q 2021). Profit margin: 9.6% (up from 0.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥368 (vs JP¥294 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥588.0b (up 21% from FY 2020). Net income: JP¥21.8b (up 26% from FY 2020). Profit margin: 3.7% (up from 3.6% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥90.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (4.8%). Is New 90 Day High Low • Mar 10
New 90-day high: €34.40 The company is up 21% from its price of €28.40 on 10 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 48% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.31 per share. Announcement • Mar 10
Dowa Holdings Co., Ltd. to Report Fiscal Year 2021 Results on May 14, 2021 Dowa Holdings Co., Ltd. announced that they will report fiscal year 2021 results on May 14, 2021 Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥116 (vs JP¥94.00 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: JP¥151.1b (up 24% from 3Q 2020). Net income: JP¥6.86b (up 23% from 3Q 2020). Profit margin: 4.5% (down from 4.6% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 9.6%, compared to a 15% growth forecast for the Metals and Mining industry in Germany. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥33.20, the stock is trading at a trailing P/E ratio of 22x, up from the previous P/E ratio of 19.1x. This compares to an average P/E of 15x in the Metals and Mining industry in Europe. Total returns to shareholders over the past three years are 2.2%. Is New 90 Day High Low • Jan 08
New 90-day high: €30.40 The company is up 23% from its price of €24.80 on 09 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 53% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.96 per share. Is New 90 Day High Low • Dec 17
New 90-day high: €29.40 The company is up 14% from its price of €25.80 on 18 September 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.75 per share. Announcement • Dec 13
Dowa Holdings Co., Ltd. to Report Q3, 2021 Results on Feb 09, 2021 Dowa Holdings Co., Ltd. announced that they will report Q3, 2021 results on Feb 09, 2021 Analyst Estimate Surprise Post Earnings • Nov 12
Revenue beats expectations Revenue exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 1.6%, compared to a 8.3% growth forecast for the Metals and Mining industry in Germany. Reported Earnings • Nov 12
Second quarter 2021 earnings released: EPS JP¥24.11 The company reported a soft second quarter result with weaker earnings and profit margins, although revenues were improved. Second quarter 2021 results: Revenue: JP¥137.1b (up 20% from 2Q 2020). Net income: JP¥1.43b (down 54% from 2Q 2020). Profit margin: 1.0% (down from 2.7% 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 29% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 12
New 90-day high: €28.20 The company is up 12% from its price of €25.20 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.80 per share. Is New 90 Day High Low • Oct 02
New 90-day low: €23.80 The company is down 9.0% from its price of €26.20 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €33.28 per share. Announcement • Sep 26
Dowa Holdings Co., Ltd. to Report Q2, 2021 Results on Nov 10, 2020 Dowa Holdings Co., Ltd. announced that they will report Q2, 2021 results on Nov 10, 2020 Announcement • Jul 05
Dowa Holdings Co., Ltd. to Report Q1, 2021 Results on Aug 07, 2020 Dowa Holdings Co., Ltd. announced that they will report Q1, 2021 results on Aug 07, 2020