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Shimadzu

DB:HDZ
Snowflake Description

Flawless balance sheet with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HDZ
DB
¥909B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

Shimadzu Corporation manufactures and sells analytical and measuring instruments, medical systems, industrial machinery, and aircraft equipment. The last earnings update was 74 days ago. More info.


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  • Shimadzu has significant price volatility in the past 3 months.
HDZ Share Price and Events
7 Day Returns
-4.5%
DB:HDZ
1.7%
DE Electronic
1.5%
DE Market
1 Year Returns
5.5%
DB:HDZ
-2%
DE Electronic
-6.2%
DE Market
HDZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shimadzu (HDZ) -4.5% -0.5% 29.4% 5.5% 71.7% 302.9%
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
  • HDZ outperformed the Electronic industry which returned -2% over the past year.
  • HDZ outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
HDZ
Industry
5yr Volatility vs Market
Related Companies

HDZ Value

 Is Shimadzu 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 Shimadzu 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 Shimadzu.

DB:HDZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
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:HDZ
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%) (2.35%))
1.056
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.056 * 5.96%)
6.52%

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

The calculations below outline how an intrinsic value for Shimadzu 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:HDZ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.52%)
2019 21,572.60 Analyst x5 20,252.23
2020 26,490.00 Analyst x5 23,346.55
2021 28,781.20 Analyst x5 23,813.33
2022 37,685.50 Analyst x2 29,272.24
2023 41,478.50 Analyst x2 30,246.50
2024 51,400.00 Analyst x1 35,187.27
2025 57,905.88 Est @ 12.66% 37,214.79
2026 63,076.04 Est @ 8.93% 38,056.40
2027 67,061.43 Est @ 6.32% 37,984.51
2028 70,073.34 Est @ 4.49% 37,261.21
Present value of next 10 years cash flows ¥312,635.05
DB:HDZ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥70,073.34 × (1 + 0.23%) ÷ (6.52% – 0.23%)
¥1,116,297.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥1,116,297.11 ÷ (1 + 6.52%)10
¥593,586.44
DB:HDZ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥312,635.05 + ¥593,586.44
¥906,221.49
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥906,221.49 / 294.57
¥3076.44
DB:HDZ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:HDZ represents 0.00787x of TSE:7701
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00787x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 3,076.44 x 0.00787
€24.20
Value per share (EUR) From above. €24.20
Current discount Discount to share price of €24.27
= -1 x (€24.27 - €24.20) / €24.20
-0.3%

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

  • The current share price of Shimadzu 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 Shimadzu's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shimadzu's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HDZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥106.21
TSE:7701 Share Price ** TSE (2019-04-23) in JPY ¥3085
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 Shimadzu.

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

= TSE:7701 Share Price ÷ EPS (both in JPY)

= 3085 ÷ 106.21

29.05x

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

  • Shimadzu is overvalued based on earnings compared to the DE Electronic industry average.
  • Shimadzu is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Shimadzu's expected growth come at a high price?
Raw Data
DB:HDZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
9.9%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:HDZ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.05x ÷ 9.9%

2.92x

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

  • Shimadzu is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Shimadzu's assets?
Raw Data
DB:HDZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥937.14
TSE:7701 Share Price * TSE (2019-04-23) in JPY ¥3085
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:HDZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:7701 Share Price ÷ Book Value per Share (both in JPY)

= 3085 ÷ 937.14

3.29x

* Primary Listing of Shimadzu.

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

  • Shimadzu is overvalued based on assets compared to the DE Electronic industry average.
X
Value checks
We assess Shimadzu'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. Shimadzu 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.

HDZ Future Performance

 How is Shimadzu expected to perform in the next 1 to 3 years based on estimates from 9 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
9.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shimadzu expected to grow at an attractive rate?
  • Shimadzu's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Shimadzu's earnings growth is positive but not above the Germany market average.
  • Shimadzu's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HDZ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HDZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 9.9%
DB:HDZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 4.6%
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:HDZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HDZ Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 495,300 1
2023-03-31 475,600 57,953 48,800 2
2022-03-31 453,650 53,666 44,850 2
2021-03-31 422,260 46,388 39,162 9
2020-03-31 404,915 44,851 35,695 9
2019-03-31 391,647 39,713 32,739 9
DB:HDZ Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 391,421 31,286
2018-09-30 387,318 33,685 31,433
2018-06-30 386,382 31,762
2018-03-31 376,530 41,215 29,838
2017-12-31 369,492 28,677
2017-09-30 359,789 36,725 27,466
2017-06-30 348,559 25,814
2017-03-31 342,479 29,608 26,473
2016-12-31 337,295 24,456
2016-09-30 336,580 30,776 23,930
2016-06-30 340,592 24,157
2016-03-31 342,236 32,348 23,899

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shimadzu's earnings are expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
  • Shimadzu's revenue is expected to grow by 4.6% 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:HDZ 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 9 Analyst Estimates (S&P Global) See Below

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

DB:HDZ Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31 165.65 167.00 164.30 2.00
2022-03-31 152.25 153.80 150.70 2.00
2021-03-31 132.86 141.98 125.60 9.00
2020-03-31 121.10 129.70 113.40 9.00
2019-03-31 111.08 114.40 108.60 9.00
DB:HDZ Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 106.21
2018-09-30 106.71
2018-06-30 107.81
2018-03-31 101.26
2017-12-31 97.30
2017-09-30 93.17
2017-06-30 87.56
2017-03-31 89.79
2016-12-31 82.95
2016-09-30 81.16
2016-06-30 81.93
2016-03-31 81.05

*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.
  • Shimadzu is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Shimadzu'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.
Shimadzu has a total score of 1/6, 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.

HDZ Past Performance

  How has Shimadzu 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 Shimadzu'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.
  • Shimadzu has delivered over 20% year on year earnings growth in the past 5 years.
  • Shimadzu's 1-year earnings growth is less than its 5-year average (9.1% vs 22.2%)
  • Shimadzu's earnings growth has not exceeded the DE Electronic industry average in the past year (9.1% vs 18.1%).
Earnings and Revenue History
Shimadzu'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 Shimadzu Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HDZ Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 391,421.00 31,286.00 102,416.00 9,676.00
2018-09-30 387,318.00 31,433.00 100,719.00 9,676.00
2018-06-30 386,382.00 31,762.00 99,738.00 9,676.00
2018-03-31 376,530.00 29,838.00 97,335.00 9,676.00
2017-12-31 369,492.00 28,677.00 95,921.00 9,296.00
2017-09-30 359,789.00 27,466.00 93,439.00 9,296.00
2017-06-30 348,559.00 25,814.00 90,476.00 9,296.00
2017-03-31 342,479.00 26,473.00 90,023.00 9,296.00
2016-12-31 337,295.00 24,456.00 89,678.00 9,437.00
2016-09-30 336,580.00 23,930.00 90,760.00 9,437.00
2016-06-30 340,592.00 24,157.00 94,234.00 9,437.00
2016-03-31 342,236.00 23,899.00 95,246.00 9,437.00
2015-12-31 339,884.00 23,223.00 95,547.00 9,786.00
2015-09-30 333,466.00 22,304.00 94,986.00 9,786.00
2015-06-30 325,184.00 20,204.00 92,521.00 9,786.00
2015-03-31 314,702.00 18,445.00 90,052.00 9,786.00
2014-12-31 311,314.00 25,417.00 97,817.00
2014-09-30 310,924.00 8,990.00 95,830.00
2014-06-30 305,835.00 8,163.00 94,627.00
2014-03-31 307,532.00 9,725.00 93,941.00
2013-12-31 291,777.00 -435.00 81,465.00 9,659.00
2013-09-30 277,715.00 12,153.00 78,856.00 9,659.00
2013-06-30 272,031.00 10,446.00 76,330.00 9,659.00
2013-03-31 264,049.00 7,578.00 83,913.00
2012-12-31 266,312.00 9,394.00 75,188.00 8,883.00
2012-09-30 265,470.00 9,536.00 73,779.00 8,883.00
2012-06-30 266,483.00 9,411.00 73,759.00 8,883.00

*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.
  • Shimadzu has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shimadzu used its assets less efficiently than the DE Electronic industry average last year based on Return on Assets.
  • Shimadzu has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shimadzu'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.
Shimadzu has a total score of 2/6, 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.

HDZ Health

 How is Shimadzu'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 Shimadzu's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shimadzu is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shimadzu's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Shimadzu'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 12.7x 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 Shimadzu Company Filings, last reported 3 months ago.

DB:HDZ Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 276,099.00 21,352.00 66,363.00
2018-09-30 277,882.00 21,458.00 76,555.00
2018-06-30 268,144.00 22,047.00 74,245.00
2018-03-31 268,059.00 21,682.00 76,946.00
2017-12-31 258,556.00 22,089.00 66,948.00
2017-09-30 253,396.00 22,684.00 70,065.00
2017-06-30 242,827.00 22,706.00 60,933.00
2017-03-31 241,627.00 21,376.00 56,698.00
2016-12-31 230,360.00 21,876.00 49,037.00
2016-09-30 218,420.00 20,653.00 48,496.00
2016-06-30 212,486.00 20,968.00 44,883.00
2016-03-31 219,970.00 21,541.00 46,907.00
2015-12-31 219,983.00 25,981.00 43,200.00
2015-09-30 216,588.00 23,860.00 44,417.00
2015-06-30 212,558.00 26,081.00 41,008.00
2015-03-31 210,016.00 27,263.00 41,360.00
2014-12-31 199,667.00 37,521.00 41,486.00
2014-09-30 190,944.00 29,831.00 33,692.00
2014-06-30 181,378.00 30,086.00 32,778.00
2014-03-31 181,995.00 56,389.00 46,029.00
2013-12-31 169,879.00 40,437.00 38,128.00
2013-09-30 177,871.00 32,708.00 33,998.00
2013-06-30 172,426.00 33,846.00 32,745.00
2013-03-31 173,430.00 32,615.00 35,140.00
2012-12-31 162,566.00 36,626.00 28,026.00
2012-09-30 162,310.00 29,203.00 28,076.00
2012-06-30 161,700.00 29,342.00 29,067.00
  • Shimadzu's level of debt (7.7%) 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 (23.9% vs 7.7% today).
  • Debt is well covered by operating cash flow (157.8%, greater than 20% of total debt).
  • Shimadzu earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Shimadzu'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. Shimadzu 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.

HDZ Dividends

 What is Shimadzu'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
0.84%
Current annual income from Shimadzu dividends. Estimated to be 1.06% next year.
If you bought €2,000 of Shimadzu shares you are expected to receive €17 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?
  • Shimadzu's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Shimadzu'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:HDZ 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 9 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:HDZ Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31 36.70 2.00
2022-03-31 34.00 2.00
2021-03-31 33.45 9.00
2020-03-31 30.73 9.00
2019-03-31 27.22 9.00
DB:HDZ Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-08 26.000 0.872
2019-02-06 26.000 0.983
2018-11-08 26.000 1.078
2018-11-06 26.000 0.942
2018-06-28 26.000 0.812
2018-05-10 26.000 0.840
2018-02-08 22.000 0.767
2018-02-07 22.000 0.813
2017-11-10 22.000 0.820
2017-11-07 22.000 0.855
2017-06-30 22.000 1.012
2017-05-11 22.000 1.028
2017-02-08 20.000 1.089
2017-02-07 20.000 1.077
2016-11-10 20.000 1.116
2016-11-07 20.000 1.288
2016-06-30 20.000 1.298
2016-05-11 20.000 1.213
2016-02-12 18.000 1.043
2016-02-09 18.000 1.075
2015-11-11 18.000 0.953
2015-11-06 18.000 0.950
2015-06-29 14.000 0.781
2015-05-12 14.000 0.847
2015-02-12 10.000 0.737
2015-02-09 10.000 0.841
2014-11-13 10.000 0.823
2014-11-10 10.000 0.944
2014-06-30 10.000 1.058
2014-05-13 10.000 1.126
2014-02-13 9.000 1.036
2014-02-07 9.000 1.000
2013-11-08 9.000 0.953
2013-06-28 9.000 1.030
2013-05-10 9.000 1.144
2013-02-14 9.000 1.397
2013-02-12 9.000 1.531
2012-11-09 9.000 1.594
2012-11-08 9.000 1.736
2012-08-06 9.000 1.644
2012-06-29 9.000 1.406
2012-05-10 9.000 1.362
2012-02-13 8.000 1.127
2012-02-10 8.000 1.212
2011-11-11 8.000 1.243
2011-11-10 8.000 1.235
2011-08-03 8.000 1.271
2011-05-10 8.000 1.115
2011-02-09 8.000 1.145
2010-11-10 8.000 1.250
2010-06-30 8.000 1.262
2010-05-11 8.000 1.168
2010-02-12 7.000 0.979
2010-02-10 7.000 1.147
2009-11-13 7.000 1.161
2009-11-10 7.000 1.203
2009-06-29 7.000 1.051
2009-05-12 7.000 1.026
2009-04-24 9.000 1.481

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

  • Shimadzu is not paying a notable dividend for Germany, therefore no need to check if the payments are stable.
  • Shimadzu 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 Shimadzu's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Shimadzu'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 Shimadzu'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 Shimadzu afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shimadzu 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.

HDZ Management

 What is the CEO of Shimadzu'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
Teruhisa Ueda
AGE 61
TENURE AS CEO 3.8 years
CEO Bio

Mr. Teruhisa Ueda has been the Chief Executive Officer and President of Shimadzu Corporation since June 2015. Mr. Ueda served as Senior Managing Executive Officer, Managing Executive Officer and Manager of Analysis Measurement Operations Department at Shimadzu Corporation. He has been a Representative Director of Shimadzu Corporation since June 2015.

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

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

3.8
Average Tenure
61
Average Age
  • The tenure for the Shimadzu management team is about average.
Management Team

Teruhisa Ueda

TITLE
President
AGE
61
TENURE
3.8 yrs

Tetsuya Tanigaki

TITLE
Chief of Public Relations Office and Executive Officer

Koichiro Hirata

TITLE
Executive Officer and Manager of Personnel Department

Osamu Ando

TITLE
Senior Managing Executive Officer & Manager of Aerospace Equipment Business Department

Hiroshi Fujino

TITLE
Senior Managing Executive Officer
AGE
63
TENURE
3.8 yrs

Yasuo Miura

TITLE
Senior Managing Executive Officer
AGE
61
TENURE
5.8 yrs

Koji Furusawa

TITLE
Senior Managing Executive Officer & Director
TENURE
1.8 yrs

Mitsuo Kitaoka

TITLE
Chief of Technology Research Laboratory and Executive Officer

Kiminobu Imura

TITLE
Executive Officer and President of Shimadzu (Asia Pacific) Pte Ltd - Singapore

Yasunori Yamamoto

TITLE
Executive Officer and President of SHIMADZU EUROPA GmbH - Germany
Board of Directors Tenure

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

5.3
Average Tenure
64
Average Age
  • The tenure for the Shimadzu board of directors is about average.
Board of Directors

Akira Nakamoto

TITLE
Chairman of the Board
AGE
73
TENURE
3.8 yrs

Teruhisa Ueda

TITLE
President
AGE
61
TENURE
3.8 yrs

Hiroshi Fujino

TITLE
Senior Managing Executive Officer
AGE
63
TENURE
6.8 yrs

Yasuo Miura

TITLE
Senior Managing Executive Officer
AGE
61
TENURE
5.8 yrs

Koji Furusawa

TITLE
Senior Managing Executive Officer & Director
TENURE
1.8 yrs

Minoru Sawaguchi

TITLE
Outside Director
AGE
52
TENURE
5.8 yrs

Taketsugu Fujiwara

TITLE
Outside Director
AGE
71
TENURE
4.8 yrs

Hiroko Wada

TITLE
Outside DIrector
AGE
66
TENURE
2.8 yrs

Hiroyuki Fujii

TITLE
Senior Audit & Supervisory Board Member
AGE
64
TENURE
5.8 yrs

Koji Uematsu

TITLE
Audit & Supervisory Board Member
AGE
67
TENURE
7.8 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 Shimadzu'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. Shimadzu 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.

HDZ News

Simply Wall St News

HDZ Company Info

Description

Shimadzu Corporation manufactures and sells analytical and measuring instruments, medical systems, industrial machinery, and aircraft equipment. The company offers analytical and measuring instruments, such as gas and liquid chromatography, gas and liquid chromatograph-mass spectrometry, GC system, data management and software, mass and molecular spectroscopy, elemental analysis, column and consumable, surface analysis, life science lab instrument, total organic carbon analysis, continuous monitoring analysis, thermal analysis, particle size analysis, materials testing and inspection, non-destructive testing, and balance products. It also provides medical systems, including angiography, fluoroscopy, mobile C-arm, radiography, mobile X-ray systems, and fluorescence imaging products; and optical and laser devices comprising diffraction gratings, aspherical mirrors, laser mirrors and windows for high power lasers, polka-dot beam splitters, motorized compact monochromators, spectro sensor units, precision spectrometers, precision refractometers, laser modules and devices, and micro sampling devices. In addition, the company offers vacuum and industrial machinery consisting of turbo molecular pumps, helium leak detectors, vacuum heat-treatment furnaces, liquid delivery equipment gear pumps, mechatronic systems glass fiber winders, and ultra-high speed sputtering systems. Further, it provides hydraulic equipment, which include hydraulic gear pumps, power packages, and multi control valves; aircraft equipment, such as electro-mechanical actuators, flight control systems, and landing gear systems; ferromagnetic object detectors, generic magnetometers, portable magnetometers, and three-axis magnetometers for geomagnetic observation/magnetism measurement; and engine combustion monitoring systems. The company operates in Japan, the Americas, Europe, China, other Asian countries, and internationally. Shimadzu Corporation was founded in 1875 and is headquartered in Kyoto, Japan.

Details
Name: Shimadzu Corporation
HDZ
Exchange: DB
Founded: 1875
¥7,245,579,068
294,567,937
Website: http://www.shimadzu.com
Address: Shimadzu Corporation
1, Nishinokyo Kuwabara-cho,
Nakagyo-ku,
Kyoto,
604-8511,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 7701 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK SHMZ.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB HDZ Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
11,954
Shimadzu employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:00
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/08
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.