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Anritsu

DB:AN1
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AN1
DB
¥307B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

Anritsu Corporation develops, manufactures, and sells measurement instruments and systems for various communications applications in Japan and internationally. The last earnings update was 69 days ago. More info.


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  • Anritsu has significant price volatility in the past 3 months.
AN1 Share Price and Events
7 Day Returns
0.7%
DB:AN1
1.7%
DE Electronic
1.5%
DE Market
1 Year Returns
77.8%
DB:AN1
-2%
DE Electronic
-6.2%
DE Market
AN1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Anritsu (AN1) 0.7% 5.3% 41.6% 77.8% 247.8% 121.7%
DE Electronic 1.7% 8.1% 19.9% -2% 97.4% 104.1%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • AN1 outperformed the Electronic industry which returned -2% over the past year.
  • AN1 outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
AN1
Industry
5yr Volatility vs Market

AN1 Value

 Is Anritsu 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 Anritsu 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 Anritsu.

DB:AN1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
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:AN1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.066 (1 + (1- 30.86%) (5.55%))
1.071
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.071 * 5.96%)
6.61%

Discounted Cash Flow Calculation for DB:AN1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Anritsu 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:AN1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.61%)
2019 6,433.57 Analyst x7 6,034.46
2020 9,363.71 Analyst x7 8,237.99
2021 11,137.57 Analyst x7 9,190.73
2022 12,359.33 Analyst x3 9,566.24
2023 11,313.00 Analyst x2 8,213.17
2024 10,620.21 Est @ -6.12% 7,231.91
2025 10,172.23 Est @ -4.22% 6,497.14
2026 9,878.82 Est @ -2.88% 5,918.31
2027 9,686.12 Est @ -1.95% 5,442.88
2028 9,560.48 Est @ -1.3% 5,039.01
Present value of next 10 years cash flows ¥71,371.85
DB:AN1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥9,560.48 × (1 + 0.23%) ÷ (6.61% – 0.23%)
¥150,056.06
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥150,056.06 ÷ (1 + 6.61%)10
¥79,089.59
DB:AN1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥71,371.85 + ¥79,089.59
¥150,461.44
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥150,461.44 / 137.43
¥1094.83
DB:AN1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AN1 represents 0.00779x of TSE:6754
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00779x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 1,094.83 x 0.00779
€8.53
Value per share (EUR) From above. €8.53
Current discount Discount to share price of €17.39
= -1 x (€17.39 - €8.53) / €8.53
-104%

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

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

The amount the stock market is willing to pay for Anritsu's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Anritsu's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AN1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥55.86
TSE:6754 Share Price ** TSE (2019-04-23) in JPY ¥2233
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.37x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

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

** Primary Listing of Anritsu.

DB:AN1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:6754 Share Price ÷ EPS (both in JPY)

= 2233 ÷ 55.86

39.98x

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

  • Anritsu is overvalued based on earnings compared to the DE Electronic industry average.
  • Anritsu is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Anritsu's expected growth come at a high price?
Raw Data
DB:AN1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 39.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
12.8%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:AN1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 39.98x ÷ 12.8%

3.12x

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

  • Anritsu is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Anritsu's assets?
Raw Data
DB:AN1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥601.62
TSE:6754 Share Price * TSE (2019-04-23) in JPY ¥2233
Germany Electronic Industry PB Ratio Median Figure of 19 Publicly-Listed Electronic Companies 2.57x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:AN1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6754 Share Price ÷ Book Value per Share (both in JPY)

= 2233 ÷ 601.62

3.71x

* Primary Listing of Anritsu.

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

  • Anritsu is overvalued based on assets compared to the DE Electronic industry average.
X
Value checks
We assess Anritsu'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Anritsu has a total score of 0/6, 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.

AN1 Future Performance

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

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Anritsu expected to grow at an attractive rate?
  • Anritsu's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Anritsu's earnings growth is expected to exceed the Germany market average.
  • Anritsu's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AN1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AN1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 12.8%
DB:AN1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 6.2%
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:AN1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AN1 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 124,000 1
2023-03-31 124,433 15,363 12,160 3
2022-03-31 122,948 16,426 12,559 4
2021-03-31 113,536 15,232 12,088 11
2020-03-31 104,847 13,477 9,912 11
2019-03-31 97,991 10,877 8,405 11
DB:AN1 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 94,829 13,154 7,673
2018-09-30 89,612 10,065 5,812
2018-06-30 87,507 7,986 4,792
2018-03-31 85,967 7,946 2,880
2017-12-31 87,632 7,053 3,464
2017-09-30 87,133 8,557 2,988
2017-06-30 86,779 9,465 2,470
2017-03-31 87,638 9,246 2,698
2016-12-31 85,599 9,971 547
2016-09-30 87,708 10,404 1,306
2016-06-30 92,168 8,335 2,623
2016-03-31 95,532 10,195 3,760

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Anritsu's earnings are expected to grow by 12.8% yearly, however this is not considered high growth (20% yearly).
  • Anritsu's revenue is expected to grow by 6.2% 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:AN1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Anritsu Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AN1 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31 88.50 101.90 75.10 2.00
2022-03-31 91.43 99.20 78.30 3.00
2021-03-31 87.91 120.70 70.60 11.00
2020-03-31 72.08 84.50 49.70 11.00
2019-03-31 61.12 64.90 46.30 11.00
DB:AN1 Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 55.86
2018-09-30 42.31
2018-06-30 34.89
2018-03-31 20.97
2017-12-31 25.22
2017-09-30 21.76
2017-06-30 17.99
2017-03-31 19.65
2016-12-31 3.98
2016-09-30 9.51
2016-06-30 19.10
2016-03-31 27.38

*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.
  • Anritsu is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Anritsu'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.
Anritsu has a total score of 3/6, 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.

AN1 Past Performance

  How has Anritsu 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 Anritsu's growth in the last year to its industry (Electronic).
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.
  • Anritsu's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Anritsu's 1-year earnings growth exceeds its 5-year average (121.5% vs -22.1%)
  • Anritsu's earnings growth has exceeded the DE Electronic industry average in the past year (121.5% vs 18.1%).
Earnings and Revenue History
Anritsu'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 Anritsu Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AN1 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 94,829.00 7,673.00 25,955.00 10,801.00
2018-09-30 89,612.00 5,812.00 25,252.00 10,247.00
2018-06-30 87,507.00 4,792.00 25,185.00 10,083.00
2018-03-31 85,967.00 2,880.00 25,287.00 10,156.00
2017-12-31 87,632.00 3,464.00 25,805.00 10,392.00
2017-09-30 87,133.00 2,988.00 26,121.00 10,639.00
2017-06-30 86,779.00 2,470.00 25,961.00 10,696.00
2017-03-31 87,638.00 2,698.00 25,936.00 10,906.00
2016-12-31 85,599.00 547.00 25,982.00 11,215.00
2016-09-30 87,708.00 1,306.00 26,638.00 11,273.00
2016-06-30 92,168.00 2,623.00 27,316.00 12,338.00
2016-03-31 95,532.00 3,760.00 28,490.00 12,820.00
2015-12-31 99,192.00 6,215.00 29,461.00 13,060.00
2015-09-30 99,853.00 6,736.00 29,498.00 13,456.00
2015-06-30 100,314.00 8,192.00 29,294.00 13,040.00
2015-03-31 98,839.00 7,857.00 28,601.00 12,940.00
2014-12-31 102,589.00 8,798.00 28,535.00 13,087.00
2014-09-30 101,805.00 8,501.00 28,214.00 12,886.00
2014-06-30 101,660.00 8,499.00 28,145.00 12,969.00
2014-03-31 101,853.00 9,305.00 27,900.00 12,227.00
2013-12-31 98,138.00 10,608.00 27,237.00 11,759.00
2013-09-30 96,476.00 11,335.00 25,923.00 11,308.00
2013-06-30 95,448.00 13,021.00 25,022.00 10,327.00
2013-03-31 94,685.00 13,950.00 23,675.00 10,148.00
2012-12-31 95,112.00 13,762.00 21,464.00 10,143.00
2012-09-30 95,123.00 13,410.00 22,811.00 7,575.00
2012-06-30 95,566.00 10,994.00 30,049.00 -74.00

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

AN1 Health

 How is Anritsu'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 Anritsu's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Anritsu is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Anritsu's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Anritsu'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 5.1x 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 Anritsu Company Filings, last reported 3 months ago.

DB:AN1 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 82,730.00 17,032.00 42,054.00
2018-09-30 81,911.00 17,520.00 43,584.00
2018-06-30 79,574.00 16,867.00 39,408.00
2018-03-31 78,313.00 16,664.00 35,452.00
2017-12-31 77,426.00 16,732.00 34,208.00
2017-09-30 76,675.00 16,494.00 37,525.00
2017-06-30 75,714.00 22,498.00 43,051.00
2017-03-31 76,485.00 22,691.00 39,682.00
2016-12-31 74,052.00 22,419.00 37,964.00
2016-09-30 71,020.00 22,394.00 38,008.00
2016-06-30 71,437.00 22,389.00 37,781.00
2016-03-31 75,862.00 22,516.00 37,391.00
2015-12-31 79,420.00 22,389.00 36,697.00
2015-09-30 79,328.00 22,373.00 39,441.00
2015-06-30 79,548.00 24,380.00 43,300.00
2015-03-31 78,665.00 16,617.00 34,916.00
2014-12-31 76,157.00 16,422.00 34,795.00
2014-09-30 78,558.00 16,846.00 45,096.00
2014-06-30 74,165.00 19,149.00 44,112.00
2014-03-31 74,896.00 19,582.00 43,215.00
2013-12-31 70,960.00 19,433.00 41,408.00
2013-09-30 68,392.00 19,506.00 40,471.00
2013-06-30 65,486.00 19,715.00 39,144.00
2013-03-31 64,534.00 20,646.00 37,690.00
2012-12-31 58,936.00 22,641.00 39,801.00
2012-09-30 55,382.00 22,613.00 37,897.00
2012-06-30 47,895.00 29,422.00 41,642.00
  • Anritsu's level of debt (20.6%) 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 (27.4% vs 20.6% today).
  • Debt is well covered by operating cash flow (77.2%, greater than 20% of total debt).
  • Anritsu earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Anritsu'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. Anritsu 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.

AN1 Dividends

 What is Anritsu'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
0.76%
Current annual income from Anritsu dividends. Estimated to be 1.17% next year.
If you bought €2,000 of Anritsu shares you are expected to receive €15 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?
  • Anritsu's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Anritsu's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
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:AN1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Germany Electronic Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
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 3.7%

Industry and Market average data is calculated daily.

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

DB:AN1 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31 31.00 2.00
2022-03-31 29.90 3.00
2021-03-31 26.68 10.00
2020-03-31 23.35 10.00
2019-03-31 22.12 9.00
DB:AN1 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-13 17.000 0.780
2019-01-30 17.000 0.824
2018-11-13 17.000 1.031
2018-10-31 17.000 0.935
2018-07-30 17.000 0.985
2018-06-26 15.000 1.000
2018-02-13 15.000 1.074
2018-01-30 15.000 1.165
2017-11-13 15.000 1.237
2017-10-30 15.000 1.444
2017-06-28 15.000 1.649
2017-04-27 15.000 1.535
2017-02-13 15.000 1.778
2017-01-30 15.000 1.839
2016-11-11 15.000 2.381
2016-10-27 15.000 2.717
2016-07-28 15.000 2.592
2016-06-28 15.000 2.487
2016-04-27 15.000 2.465
2016-02-12 24.000 3.768
2016-01-28 24.000 3.623
2015-11-12 24.000 3.036
2015-10-29 24.000 3.060
2015-06-25 24.000 2.957
2015-04-27 24.000 2.762
2015-01-29 24.000 2.862
2014-10-30 24.000 2.877
2014-06-26 24.000 2.625
2014-04-24 24.000 2.179
2013-07-31 20.000 1.698
2013-04-25 20.000 1.543
2013-01-31 17.000 1.226
2012-10-31 17.000 1.593
2012-08-01 15.000 1.526
2012-06-27 15.000 1.582
2012-04-26 15.000 1.714
2012-02-10 20.000 1.983
2012-01-31 20.000 2.202
2011-11-11 10.000 1.189
2011-10-27 10.000 1.088
2011-07-29 10.000 1.172
2011-07-28 10.000 1.281
2011-06-28 8.000 1.117
2011-04-27 8.000 1.211
2011-02-10 7.000 1.065
2011-01-27 7.000 0.980
2010-11-11 8.000 1.277
2010-10-27 8.000 1.483
2010-07-28 4.000 0.772
2010-06-24 4.000 0.900
2010-04-27 4.000 1.026
2010-02-10 0.000 0.000
2009-11-11 0.000 0.000
2009-08-13 0.000 0.000
2009-07-30 0.000 0.000
2009-06-25 0.000 0.000
2009-04-27 0.000 0.000
2009-04-24 0.000 0.000

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

  • Anritsu is not paying a notable dividend for Germany, therefore no need to check if the payments are stable.
  • Anritsu is not paying a notable dividend for Germany, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Anritsu's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Anritsu's dividends as it is not paying a notable one for Germany.
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 Anritsu'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 Anritsu afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Anritsu has a total score of 0/6, see the detailed checks below.


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

AN1 Management

 What is the CEO of Anritsu'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
Hirokazu Hamada
AGE 44
TENURE AS CEO 0 years
CEO Bio

Mr. Hirokazu Hamada has been Group Chief Executive Officer at Anritsu Corporation since April 1, 2109. He has been President at Anritsu Corporation since April 01, 2018. He was Executive Vice President and General Manager of Measurement Business at Anritsu Corporation from April 7, 2017 to April 01, 2018 and from June 2017 to April 01, 2018 respectively and was its Measurement Business Group President till April 01, 2018. Mr. Hamada served as Senior Executive Vice President and Measurement Group President at Anritsu Corp. since April 1, 2017 until April 7, 2017. Mr. Hamada served as Senior Vice President and Measurement Business Group Vice President at Anritsu Corp. until April 1, 2017 and served as its Vice President and Chief Measurement Business R&D Officer. Mr. Hamada served as General Manager of Measurement Business Division of Anritsu Corp. He has been Director of Anritsu Corporation since June 30, 2017. He studied at Tokyo Denki University in 1988.

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

Average tenure of the Anritsu management team in years:

4.6
Average Tenure
  • The tenure for the Anritsu management team is about average.
Management Team

Hirokazu Hamada

TITLE
Representative Director
AGE
44

Akifumi Kubota

TITLE
CFO, Chief Corporate Officer
TENURE
9 yrs

Hanako Noda

TITLE
CTO & Executive Officer
TENURE
0.3 yrs

Ichiro Takeuchi

TITLE
Chief Human Resource and Administration Officer & VP

Takeshi Shima

TITLE
Chief Global Sales Officer & VP

Toshisumi Taniai

TITLE
Senior Executive Officer of Corporate Governance Dept. and Management Audit Dept & Director
TENURE
10 yrs

Tetsuo Kawabe

TITLE
Senior Executive Officer of Management Audit Dept.

Yasunobu Hashimoto

TITLE
Chief Device Business Officer & VP

Toru Wakinaga

TITLE
Chief Americas Business Officer & VP

Yukihiro Takahashi

TITLE
Senior Exe. Officer
TENURE
0.3 yrs
Board of Directors Tenure

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

2.8
Average Tenure
68
Average Age
  • The average tenure for the Anritsu board of directors is less than 3 years, this suggests a new board.
Board of Directors

Hirokazu Hashimoto

TITLE
Chairman of the Board
TENURE
1 yrs

Hirokazu Hamada

TITLE
Representative Director
AGE
44
TENURE
1.8 yrs

Akifumi Kubota

TITLE
CFO, Chief Corporate Officer
TENURE
5.8 yrs

Toshisumi Taniai

TITLE
Senior Executive Officer of Corporate Governance Dept. and Management Audit Dept & Director
TENURE
7.8 yrs

Masumi Niimi

TITLE
Senior VP of PQA
TENURE
0.8 yrs

Takaya Seki

TITLE
Outside Director
TENURE
7.8 yrs

Takashi Sano

TITLE
Outside Director
AGE
68
TENURE
3.8 yrs

Yuji Inoue

TITLE
Outside Director
AGE
70
TENURE
3.8 yrs

Osamu Nagata

TITLE
Director
TENURE
1.8 yrs

Norio Igarashi

TITLE
Outside Director
TENURE
1.8 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 Anritsu'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. Anritsu 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.

AN1 News

Simply Wall St News

AN1 Company Info

Description

Anritsu Corporation develops, manufactures, and sells measurement instruments and systems for various communications applications in Japan and internationally. The company operates through Test and Measurement, Products Quality Assurance, and Others segments. The Test and Measurement segment offers measuring instruments for mobile phone acceptance testing by mobile phone service operators; and for design, production, function and performance verification, and maintenance of mobile phone handsets by manufacturers of mobile phones, including smartphones, IC chipsets, and relevant components. This segment also provides network construction, maintenance, monitoring, and service quality assurance solutions for wireline and wireless service providers; and measuring instruments for design, production, and evaluation of electronic devices used in telecommunications network-related communications equipment and other electronic equipment. The Products Quality Assurance segment offers highly precise checkweighers; X-ray and other inspection systems that detect and remove metal fragments, stones, and other alien materials in the food processing process. The Others segment engages in the information and communications, devices, logistics, welfare services, real estate leasing, and other businesses. This segment also offers monitoring and control systems related to public infrastructure; bandwidth controllers for networks; and optical/ultra-high-speed devices for optical communications networks and telecommunications equipment. Anritsu Corporation was founded in 1931 is headquartered in Atsugi, Japan.

Details
Name: Anritsu Corporation
AN1
Exchange: DB
Founded: 1931
¥2,446,808,579
137,429,135
Website: http://www.anritsu.com
Address: Anritsu Corporation
5-1-1 Onna,
Atsugi,
Kanagawa, 243-8555,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6754 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
DB AN1 Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
3,717
Anritsu employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:43
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


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.