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ZEON

DB:NZE
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NZE
DB
¥228B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

ZEON Corporation engages in the elastomers, specialty materials, and other businesses. The last earnings update was 29 days ago. More info.


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NZE Share Price and Events
7 Day Returns
-3%
DB:NZE
-2.9%
DE Chemicals
-2.3%
DE Market
1 Year Returns
-22.4%
DB:NZE
-21.3%
DE Chemicals
-11.5%
DE Market
NZE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ZEON (NZE) -3% -7.5% -7.7% -22.4% 27.4% 24.7%
DE Chemicals -2.9% -9.9% -4% -21.3% 5.5% -6.7%
DE Market -2.3% -5.2% 0.8% -11.5% 5.6% 6.4%
1 Year Return vs Industry and Market
  • NZE underperformed the Chemicals industry which returned -21.3% over the past year.
  • NZE underperformed the Market in Germany which returned -11.5% over the past year.
Price Volatility
NZE
Industry
5yr Volatility vs Market

NZE Value

 Is ZEON 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 ZEON 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 ZEON.

DB:NZE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.9%
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:NZE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.865 (1 + (1- 30.86%) (10.57%))
0.952
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.952 * 5.96%)
5.9%

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

The calculations below outline how an intrinsic value for ZEON 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:NZE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 5.9%)
2019 16,886.50 Analyst x2 15,945.22
2020 17,589.33 Analyst x3 15,683.08
2021 22,700.00 Analyst x2 19,111.67
2022 19,500.00 Analyst x2 15,502.38
2023 14,200.00 Analyst x1 10,659.65
2024 13,490.87 Est @ -4.99% 9,562.82
2025 13,028.50 Est @ -3.43% 8,720.29
2026 12,724.85 Est @ -2.33% 8,042.30
2027 12,525.94 Est @ -1.56% 7,475.31
2028 12,397.46 Est @ -1.03% 6,986.22
Present value of next 10 years cash flows ¥117,688.94
DB:NZE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥12,397.46 × (1 + 0.23%) ÷ (5.9% – 0.23%)
¥218,948.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥218,948.10 ÷ (1 + 5.9%)10
¥123,381.69
DB:NZE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥117,688.94 + ¥123,381.69
¥241,070.63
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥241,070.63 / 218.50
¥1103.3
DB:NZE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:NZE represents 0.00797x of TSE:4205
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00797x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 1,103.30 x 0.00797
€8.79
Value per share (EUR) From above. €8.79
Current discount Discount to share price of €8.32
= -1 x (€8.32 - €8.79) / €8.79
5.3%

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

Current Discount
Amount off the current price ZEON is available for.
Intrinsic value
5%
Share price is €8.32 vs Future cash flow value of €8.79
Current Discount Checks
For ZEON to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ZEON's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • ZEON's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 ZEON's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ZEON's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NZE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥84.06
TSE:4205 Share Price ** TSE (2019-05-24) in JPY ¥1045
Germany Chemicals Industry PE Ratio Median Figure of 17 Publicly-Listed Chemicals Companies 20.38x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 20.16x

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

** Primary Listing of ZEON.

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

= TSE:4205 Share Price ÷ EPS (both in JPY)

= 1045 ÷ 84.06

12.43x

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

  • ZEON is good value based on earnings compared to the DE Chemicals industry average.
  • ZEON is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does ZEON's expected growth come at a high price?
Raw Data
DB:NZE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
13.9%per year
Germany Chemicals Industry PEG Ratio Median Figure of 13 Publicly-Listed Chemicals Companies 1.77x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.43x ÷ 13.9%

0.9x

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

  • ZEON is good value based on expected growth next year.
Price based on value of assets
What value do investors place on ZEON's assets?
Raw Data
DB:NZE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥1,173.16
TSE:4205 Share Price * TSE (2019-05-24) in JPY ¥1045
Germany Chemicals Industry PB Ratio Median Figure of 19 Publicly-Listed Chemicals Companies 1.53x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.75x
DB:NZE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:4205 Share Price ÷ Book Value per Share (both in JPY)

= 1045 ÷ 1,173.16

0.89x

* Primary Listing of ZEON.

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

  • ZEON is good value based on assets compared to the DE Chemicals industry average.
X
Value checks
We assess ZEON'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 Chemicals 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 Chemicals industry average (and greater than 0)? (1 check)
  5. ZEON 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.

NZE Future Performance

 How is ZEON expected to perform in the next 1 to 3 years based on estimates from 5 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
13.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ZEON expected to grow at an attractive rate?
  • ZEON's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • ZEON's earnings growth is expected to exceed the Germany market average.
  • ZEON's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NZE Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NZE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 13.9%
DB:NZE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.7%
Germany Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 9.3%
Germany Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:NZE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NZE Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 410,000 59,900 35,000 1
2022-03-31 373,600 50,700 29,950 2
2021-03-31 352,320 48,000 27,640 5
2020-03-31 348,600 42,068 27,000 4
DB:NZE Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 337,499 40,393 18,458
2018-12-31 336,215 19,256
2018-09-30 335,041 47,730 13,264
2018-06-30 333,579 12,704
2018-03-31 332,682 54,462 13,056
2017-12-31 328,031 13,501
2017-09-30 314,095 52,752 29,422
2017-06-30 300,401 26,296
2017-03-31 287,624 49,042 23,152
2016-12-31 281,584 20,445
2016-09-30 283,421 45,249 15,204
2016-06-30 289,692 16,333

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ZEON's earnings are expected to grow by 13.9% yearly, however this is not considered high growth (20% yearly).
  • ZEON's revenue is expected to grow by 3.7% 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:NZE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from ZEON Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NZE Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 160.50 160.50 160.50 1.00
2022-03-31 133.46 143.60 125.88 3.00
2021-03-31 125.44 140.40 104.21 6.00
2020-03-31 120.61 129.80 110.18 5.00
DB:NZE Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 84.06
2018-12-31 87.35
2018-09-30 59.95
2018-06-30 57.22
2018-03-31 58.81
2017-12-31 60.82
2017-09-30 132.54
2017-06-30 118.46
2017-03-31 104.31
2016-12-31 91.80
2016-09-30 67.89
2016-06-30 72.54

*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.
  • ZEON is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ZEON'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.
ZEON 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.

NZE Past Performance

  How has ZEON 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 ZEON's growth in the last year to its industry (Chemicals).
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.
  • ZEON's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • ZEON's 1-year earnings growth exceeds its 5-year average (41.4% vs -1.8%)
  • ZEON's earnings growth has exceeded the DE Chemicals industry average in the past year (41.4% vs -10.2%).
Earnings and Revenue History
ZEON'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 ZEON Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NZE Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 337,499.00 18,458.00 63,595.00
2018-12-31 336,215.00 19,256.00 48,646.00 15,103.00
2018-09-30 335,041.00 13,264.00 48,975.00 15,103.00
2018-06-30 333,579.00 12,704.00 48,107.00 15,103.00
2018-03-31 332,682.00 13,056.00 47,289.00 15,103.00
2017-12-31 328,031.00 13,501.00 47,431.00 13,233.00
2017-09-30 314,095.00 29,422.00 44,696.00 13,233.00
2017-06-30 300,401.00 26,296.00 43,896.00 13,233.00
2017-03-31 287,624.00 23,152.00 42,925.00 13,233.00
2016-12-31 281,584.00 20,445.00 42,599.00 14,148.00
2016-09-30 283,421.00 15,204.00 43,127.00 14,148.00
2016-06-30 289,692.00 16,333.00 42,902.00 14,148.00
2016-03-31 295,647.00 18,079.00 43,183.00 14,148.00
2015-12-31 299,658.00 17,712.00 43,418.00 13,627.00
2015-09-30 306,589.00 21,002.00 42,386.00 13,627.00
2015-06-30 308,662.00 20,771.00 41,556.00 13,627.00
2015-03-31 307,524.00 19,080.00 40,764.00 13,627.00
2014-12-31 305,452.00 17,554.00 40,758.00 12,661.00
2014-09-30 301,415.00 17,868.00 40,900.00 12,661.00
2014-06-30 298,805.00 17,376.00 41,231.00 12,661.00
2014-03-31 296,427.00 19,650.00 40,558.00 12,661.00
2013-12-31 287,688.00 20,649.00 39,413.00 11,895.00
2013-09-30 271,933.00 20,006.00 37,760.00 11,895.00
2013-06-30 258,013.00 17,992.00 35,838.00 11,895.00
2013-03-31 250,763.00 14,750.00 34,547.00 11,895.00
2012-12-31 250,012.00 14,320.00 35,224.00 11,106.00
2012-09-30 255,975.00 12,442.00 34,637.00 11,106.00
2012-06-30 261,299.00 14,994.00 33,781.00 11,106.00

*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.
  • ZEON has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ZEON used its assets less efficiently than the DE Chemicals industry average last year based on Return on Assets.
  • ZEON has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ZEON'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 Chemicals 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.
ZEON has a total score of 3/6, 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.

NZE Health

 How is ZEON'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 ZEON's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ZEON is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • ZEON's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of ZEON'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 9.4x 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 ZEON Company Filings, last reported 1 month ago.

DB:NZE Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 259,157.00 24,125.00 37,534.00
2018-12-31 253,031.00 26,095.00 32,062.00
2018-09-30 267,568.00 26,766.00 35,727.00
2018-06-30 259,381.00 27,575.00 29,274.00
2018-03-31 259,940.00 38,573.00 41,666.00
2017-12-31 260,096.00 40,714.00 32,969.00
2017-09-30 263,619.00 41,262.00 27,880.00
2017-06-30 252,133.00 42,189.00 14,941.00
2017-03-31 244,636.00 43,177.00 11,677.00
2016-12-31 228,270.00 43,164.00 15,148.00
2016-09-30 213,406.00 43,968.00 8,673.00
2016-06-30 207,576.00 53,657.00 8,739.00
2016-03-31 215,586.00 55,064.00 7,963.00
2015-12-31 218,023.00 60,351.00 15,268.00
2015-09-30 219,233.00 62,304.00 14,075.00
2015-06-30 219,372.00 63,254.00 11,918.00
2015-03-31 215,631.00 58,889.00 4,151.00
2014-12-31 202,697.00 60,330.00 6,270.00
2014-09-30 189,986.00 63,086.00 10,013.00
2014-06-30 182,055.00 72,887.00 10,213.00
2014-03-31 181,414.00 65,565.00 9,105.00
2013-12-31 182,764.00 55,014.00 8,280.00
2013-09-30 176,065.00 63,145.00 9,046.00
2013-06-30 168,771.00 61,045.00 7,651.00
2013-03-31 162,057.00 66,483.00 12,216.00
2012-12-31 144,096.00 70,900.00 9,368.00
2012-09-30 138,466.00 67,205.00 9,417.00
2012-06-30 138,035.00 72,011.00 13,966.00
  • ZEON's level of debt (9.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (36.2% vs 9.3% today).
  • Debt is well covered by operating cash flow (167.4%, greater than 20% of total debt).
  • ZEON earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess ZEON'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. ZEON has a total score of 6/6, 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.

NZE Dividends

 What is ZEON'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
1.72%
Current annual income from ZEON dividends. Estimated to be 2.27% next year.
If you bought €2,000 of ZEON shares you are expected to receive €34 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?
  • ZEON's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • ZEON's dividend is below the markets top 25% of dividend payers in Germany (3.89%).
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:NZE 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 5 Analyst Estimates (S&P Global) See Below
Germany Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
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:NZE Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 31.50 2.00
2022-03-31 25.67 3.00
2021-03-31 22.50 6.00
2020-03-31 20.80 5.00
DB:NZE Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-13 18.000 1.589
2019-01-31 20.000 1.768
2018-11-13 20.000 1.872
2018-10-31 20.000 1.732
2018-07-31 19.000 1.615
2018-06-28 18.000 1.324
2018-04-27 18.000 1.287
2018-02-09 18.000 1.174
2018-01-31 18.000 1.111
2017-11-13 18.000 1.117
2017-10-31 18.000 1.151
2017-06-29 17.000 1.239
2017-04-28 17.000 1.470
2017-02-09 16.000 1.296
2017-01-30 16.000 1.231
2016-11-07 16.000 1.466
2016-10-31 16.000 1.664
2016-06-29 16.000 1.940
2016-04-28 16.000 2.071
2016-02-05 14.000 1.925
2016-01-28 16.000 2.060
2015-11-09 16.000 1.708
2015-10-29 16.000 1.613
2015-06-26 15.000 1.438
2015-05-08 15.000 1.315
2014-08-06 14.000 1.289
2014-06-27 14.000 1.350
2014-05-08 14.000 1.501
2014-02-07 13.000 1.350
2014-02-06 13.000 1.315
2013-11-06 14.000 1.327
2013-08-06 13.000 1.070
2013-06-27 12.000 1.069
2013-05-09 13.000 1.231
2013-02-06 12.000 1.255
2012-11-07 12.000 1.725
2012-08-07 12.000 1.987
2012-06-28 12.000 1.932
2012-05-10 12.000 1.995
2012-02-08 10.000 1.364
2011-11-08 10.000 1.540
2011-08-08 10.000 1.380
2011-06-29 10.000 1.275
2011-05-11 10.000 1.426
2011-02-10 8.000 1.070
2011-02-09 8.000 0.999
2010-11-10 8.000 1.132
2010-08-09 6.000 0.923
2010-06-29 6.000 1.086
2010-05-13 6.000 1.103
2010-02-10 5.000 0.977
2009-11-10 5.000 1.218

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of ZEON's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.7x 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 ZEON'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 ZEON afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ZEON has a total score of 3/6, see the detailed checks below.


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

NZE Management

 What is the CEO of ZEON'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
Kimiaki Tanaka
AGE 65
TENURE AS CEO 5.9 years
CEO Bio

Mr. Kimiaki Tanaka has been President of Zeon Corp., since June 2013. Mr. Tanaka served as Senior Corporate Officer of Zeon Corp. since June 2011. Mr. Tanaka served as General Manager of Specialty Materials Div., Specialty Materials Sales Dept.2 and Specialty Materials Sales Dept.3 of Zeon Corp. Mr. Tanaka Joined ZEON Corp. in April 1979 and served as Manager of Imaging and Electronic Material Products Technology Department since July 1997, Manager, Specialty Materials Laboratory since June 2005, Executive Officer and Manager, Specialty Chemical Sales Department since June 2007, Manager, Special Materials Division and Manager, Specialty Materials Sales Department since June 2008, Manager, New Business Development Department since November 2008, Manager, Special Materials 2nd Division since May 2010, Manager, Management Planning Unit and Manager, Corporate Planning Department since February 2011 and Managing Executive Officer since June 2011. Mr. Tanaka has been Representative Director at Zeon Corp. since June 2011.

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

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

2.9
Average Tenure
60.5
Average Age
  • The tenure for the ZEON management team is about average.
Management Team

Kimiaki Tanaka

TITLE
President & Representative Director
AGE
65
TENURE
5.9 yrs

Tsutomu Eguchi

TITLE
Corporate Officer
TENURE
1.8 yrs

Hiroyuki Hirakawa

TITLE
Senior Corporate Officer
AGE
60

Toru Nishijima

TITLE
Senior Corporate Officer
AGE
61

Hirofumi Imai

TITLE
Sr. Corp. Officer
TENURE
2.9 yrs

Takeo Furuya

TITLE
Corporate Officer
AGE
60

Sachio Hayashi

TITLE
Senior Corporate Officer

Makoto Yokota

TITLE
Corporate Officer
TENURE
2.9 yrs

Hiroshi Fujisawa

TITLE
Corporate Officer
Board of Directors Tenure

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

6.9
Average Tenure
65
Average Age
  • The tenure for the ZEON board of directors is about average.
Board of Directors

Naozumi Furukawa

TITLE
Chairman
AGE
74
TENURE
5.9 yrs

Kimiaki Tanaka

TITLE
President & Representative Director
AGE
65
TENURE
7.9 yrs

Hiroyuki Hirakawa

TITLE
Senior Corporate Officer
AGE
60
TENURE
9.9 yrs

Toru Nishijima

TITLE
Senior Corporate Officer
AGE
61
TENURE
3.9 yrs

Hirofumi Imai

TITLE
Sr. Corp. Officer

Takeo Furuya

TITLE
Corporate Officer
AGE
60

Sachio Hayashi

TITLE
Senior Corporate Officer

Hiroshi Fujisawa

TITLE
Corporate Officer

Tadanobu Nagumo

TITLE
Director
AGE
71
TENURE
3.9 yrs

Haruo Ito

TITLE
External Director
AGE
75
TENURE
7.9 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 ZEON'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. ZEON 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.

NZE News

Simply Wall St News

NZE Company Info

Description

ZEON Corporation engages in the elastomers, specialty materials, and other businesses. The company offers synthetic rubbers, such as general-purpose rubbers for use in automobile tire applications; and various specialty rubbers, including NBR and hydrogenated NBR. It also provides synthetic latex comprising styrene-butadiene copolymer latex, polybutadiene, acrylonitrile butadiene copolymer latex, acrylate latex, and soap-free latex for use in processed paper, fiber treatment agents, adhesives, paints, and rubber gloves; and materials for adhesive tapes and hot melt adhesives, binder for traffic paints, and concrete admixtures. In addition, the company offers specialty chemicals, such as synthetic aroma chemicals for flavors and fragrances; cyclopentene, cyclopentanone, and other derivatives for chemical synthesis; intermediates for pharmaceuticals and agrochemicals; and solvents, cleaning agents, and urethane foaming agents. Further, it provides electronic materials, rechargeable battery materials, and toners for the production of semiconductors, etching gas, and materials used in rechargeable battery production; and specialty plastics that include cyclo-olefin polymers and fine processed products with cyclo-olefin polymer for use in optical lenses, medical devices, and various general-purpose engineering plastics. Additionally, the company develops, manufactures, and sells cardiovascular and gastrointestinal medical equipment, as well as nutritional products; and licenses butadiene recovery and butene purification process technologies in approximately 23 countries worldwide. It also offers PENTAM, a resource- and energy-saving molded product. The company was founded in 1950 and is headquartered in Tokyo, Japan.

Details
Name: ZEON Corporation
NZE
Exchange: DB
Founded: 1950
¥1,864,004,271
218,498,681
Website: http://www.zeon.co.jp
Address: ZEON Corporation
Shin Marunouchi Center Building,
1-6-2 Marunouchi,
Tokyo,
100-8246,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 4205 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
DB NZE Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
3,328
ZEON employees.
Industry
Commodity Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 21:00
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/04/26
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.