DB:AN1

Stock Analysis Report

Executive Summary

Anritsu Corporation develops, manufactures, and sells measurement instruments and systems for various communications applications in Japan and internationally.

Snowflake

Fundamentals

Flawless balance sheet with solid track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: AN1 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.6%

AN1

2.6%

DE Electronic

0.1%

DE Market


1 Year Return

31.6%

AN1

4.3%

DE Electronic

8.8%

DE Market

Return vs Industry: AN1 exceeded the German Electronic industry which returned 4.3% over the past year.

Return vs Market: AN1 exceeded the German Market which returned 8.8% over the past year.


Shareholder returns

AN1IndustryMarket
7 Day-0.6%2.6%0.1%
30 Day3.5%13.8%5.9%
90 Day9.5%34.2%15.0%
1 Year33.2%31.6%5.2%4.3%12.2%8.8%
3 Year278.5%263.6%72.3%68.2%25.5%14.5%
5 Year258.5%223.9%143.8%130.9%40.1%21.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

28.16x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AN1 (€17.6) is trading above our estimate of fair value (€15.08)

Significantly Below Fair Value: AN1 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AN1 is poor value based on its PE Ratio (28.2x) compared to the Electronic industry average (22.9x).

PE vs Market: AN1 is poor value based on its PE Ratio (28.2x) compared to the German market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: AN1 is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: AN1 is overvalued based on its PB Ratio (3.4x) compared to the DE Electronic industry average (1.9x).


Next Steps

Future Growth

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

14.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AN1's forecast earnings growth (14.7% per year) is above the savings rate (0.2%).

Earnings vs Market: AN1's earnings (14.7% per year) are forecast to grow faster than the German market (12.7% per year).

High Growth Earnings: AN1's earnings are forecast to grow, but not significantly.

Revenue vs Market: AN1's revenue (5.5% per year) is forecast to grow faster than the German market (4.9% per year).

High Growth Revenue: AN1's revenue (5.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AN1's Return on Equity is forecast to be low in 3 years time (13.7%).


Next Steps

Past Performance

How has Anritsu performed over the past 5 years?

1.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AN1 has high quality earnings.

Growing Profit Margin: AN1's current net profit margins (10%) are higher than last year (6.5%).


Past Earnings Growth Analysis

Earnings Trend: AN1's earnings have grown by 1.8% per year over the past 5 years.

Accelerating Growth: AN1's earnings growth over the past year (80.4%) exceeds its 5-year average (1.8% per year).

Earnings vs Industry: AN1 earnings growth over the past year (80.4%) exceeded the Electronic industry -5.4%.


Return on Equity

High ROE: AN1's Return on Equity (12.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Anritsu's financial position?


Financial Position Analysis

Short Term Liabilities: AN1's short term assets (¥91.4B) exceeds its short term liabilities (¥35.0B)

Long Term Liabilities: AN1's short term assets (91.4B) exceeds its long term liabilities (7.7B)


Debt to Equity History and Analysis

Debt Level: AN1's debt to equity ratio (14.5%) is considered satisfactory

Reducing Debt: AN1's debt to equity ratio has reduced from 21% to 14.5% over the past 5 years.

Debt Coverage: AN1's debt is well covered by operating cash flow (101.3%).

Interest Coverage: AN1's interest payments on its debt are well covered by EBIT (62.6x coverage).


Balance Sheet

Inventory Level: AN1 has a high level of physical assets or inventory.

Debt Coverage by Assets: AN1's debt is covered by short term assets (assets are 7.2x debt).


Next Steps

Dividend

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

1.02%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Anritsu before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company1.0%marketbottom25%1.4%markettop25%3.7%industryaverage1.2%forecastin3Years1.2%

Current dividend yield vs market & industry

Notable Dividend: AN1's dividend (1.02%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.38%).

High Dividend: AN1's dividend (1.02%) is low compared to the top 25% of dividend payers in the German market (3.68%).


Stability and Growth of Payments

Stable Dividend: AN1's dividend payments have been volatile in the past 10 years.

Growing Dividend: AN1's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.1%), AN1's dividend payments are well covered by earnings.


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Anritsu's salary, the management and board of directors tenure and is there insider trading?

0.8yrs

Average management tenure


CEO

Hirokazu Hamada (45yo)

0.6yrs

Tenure

0

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 ...


Management Age and Tenure

0.8yrs

Average Tenure

Experienced Management: AN1's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Age and Tenure

2.4yrs

Average Tenure

Experienced Board: AN1's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown

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


Management Team

  • Tetsuo Kawabe

    Senior Executive Officer of Management Audit Dept.

    • Tenure: 0yrs
  • Akifumi Kubota

    CFO, Chief Corporate Officer

    • Tenure: 6.4yrs
  • Yasunobu Hashimoto

    Chief Device Business Officer & VP

    • Tenure: 0yrs
  • Toru Wakinaga

    Senior Executive Officer of Management Audit Dept.

    • Tenure: 0yrs
  • Yukihiro Takahashi

    Senior Exe. Officer

    • Tenure: 0.8yrs
  • Hirokazu Hamada (45yo)

    Representative Director

    • Tenure: 0.6yrs
  • Akio Takagi

    Senior Executive Officer & Chief Environment and Quality Officer

    • Tenure: 0yrs
  • Ichiro Takeuchi

    Chief Human Resource and Administration Officer & VP

    • Tenure: 0yrs
  • Takeshi Shima

    Chief Global Sales Officer

    • Tenure: 0.4yrs
  • Hanako Noda

    CTO, GM of Technical Division & Executive Officer

    • Tenure: 0.8yrs

Board Members

  • Toshisumi Taniai

    Director

    • Tenure: 8.4yrs
  • Akifumi Kubota

    CFO, Chief Corporate Officer

    • Tenure: 6.4yrs
  • Takaya Seki

    Outside Director

    • Tenure: 8.4yrs
  • Hirokazu Hamada (45yo)

    Representative Director

    • Tenure: 0.6yrs
  • Masumi Niimi

    Senior VP

    • Tenure: 1.4yrs
  • Takeshi Shima

    Chief Global Sales Officer

    • Tenure: 0.4yrs
  • Norio Igarashi

    Outside Director

    • Tenure: 2.4yrs
  • Kazuyoshi Aoki

    Outside Director

    • Tenure: 0.4yrs
  • Keiko Shimizu

    Outside Director

    • Tenure: 0.4yrs

Company Information

Anritsu Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Anritsu Corporation
  • Ticker: AN1
  • Exchange: DB
  • Founded: 1931
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: JP¥295.397b
  • Listing Market Cap: JP¥2.468b
  • Shares outstanding: 137.39m
  • Website: https://www.anritsu.com

Number of Employees


Location

  • Anritsu Corporation
  • 5-1-1 Onna
  • Atsugi
  • Kanagawa
  • 243-8555
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6754TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
AN1DB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992

Biography

Anritsu Corporation develops, manufactures, and sells measurement instruments and systems for various communications applications in Japan and internationally. The company operates through Test and Measure ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 21:27
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.