TSE:4062

Stock Analysis Report

Executive Summary

Ibiden Co., Ltd. provides electronic and ceramics products in Japan, Asia, North America, Europe, and internationally.


Snowflake Analysis

Proven track record with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 4062's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-7.0%

4062

0.6%

JP Electronic

-0.2%

JP Market


1 Year Return

26.1%

4062

-8.9%

JP Electronic

-12.8%

JP Market

Return vs Industry: 4062 exceeded the JP Electronic industry which returned -10.8% over the past year.

Return vs Market: 4062 exceeded the JP Market which returned -14.8% over the past year.


Shareholder returns

4062IndustryMarket
7 Day-7.0%0.6%-0.2%
30 Day-6.4%-3.1%-5.2%
90 Day-15.1%-18.3%-17.5%
1 Year28.0%26.1%-7.3%-8.9%-10.5%-12.8%
3 Year40.3%32.5%23.5%17.7%1.6%-5.5%
5 Year19.3%7.5%22.0%12.2%1.9%-9.2%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

25.21x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 4062 (¥2205) is trading above our estimate of fair value (¥1068.36)

Significantly Below Fair Value: 4062 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 4062 is poor value based on its PE Ratio (25.2x) compared to the Electronic industry average (12.3x).

PE vs Market: 4062 is poor value based on its PE Ratio (25.2x) compared to the JP market (11.8x).


Price to Earnings Growth Ratio

PEG Ratio: 4062 is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: 4062 is overvalued based on its PB Ratio (1.1x) compared to the JP Electronic industry average (0.7x).


Next Steps

Future Growth

How is IbidenLtd forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

28.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 4062's forecast earnings growth (28.2% per year) is above the savings rate (-0.09%).

Earnings vs Market: 4062's earnings (28.2% per year) are forecast to grow faster than the JP market (9.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 4062's revenue (7.2% per year) is forecast to grow faster than the JP market (3.3% per year).

High Growth Revenue: 4062's revenue (7.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 4062's Return on Equity is forecast to be low in 3 years time (7.8%).


Next Steps

Past Performance

How has IbidenLtd performed over the past 5 years?

-3.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 4062 has high quality earnings.

Growing Profit Margin: 4062's current net profit margins (4.2%) are higher than last year (0.8%).


Past Earnings Growth Analysis

Earnings Trend: 4062's earnings have declined by -3.8% per year over the past 5 years.

Accelerating Growth: 4062's earnings growth over the past year (382.2%) exceeds its 5-year average (-3.8% per year).

Earnings vs Industry: 4062 earnings growth over the past year (382.2%) exceeded the Electronic industry -10.9%.


Return on Equity

High ROE: 4062's Return on Equity (4.4%) is considered low.


Next Steps

Financial Health

How is IbidenLtd's financial position?


Financial Position Analysis

Short Term Liabilities: 4062's short term assets (¥304.5B) exceed its short term liabilities (¥118.4B).

Long Term Liabilities: 4062's short term assets (¥304.5B) exceed its long term liabilities (¥125.5B).


Debt to Equity History and Analysis

Debt Level: 4062's debt to equity ratio (55.8%) is considered high.

Reducing Debt: 4062's debt to equity ratio has increased from 21.4% to 55.8% over the past 5 years.

Debt Coverage: 4062's debt is not well covered by operating cash flow (14.6%).

Interest Coverage: 4062 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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

1.59%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 4062's dividend (1.59%) isn’t notable compared to the bottom 25% of dividend payers in the JP market (1.76%).

High Dividend: 4062's dividend (1.59%) is low compared to the top 25% of dividend payers in the JP market (4.09%).


Stability and Growth of Payments

Stable Dividend: 4062's dividend payments have been volatile in the past 10 years.

Growing Dividend: 4062's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40%), 4062'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

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

Takeshi Aoki (61yo)

2.83s

Tenure

Mr. Takeshi Aoki has been the Chief Executive Officer and President at Ibiden Co., Ltd. since June 2017 and served as its Executive Vice President since March 3 2016. Mr. Aoki served as Senior Managing Off ...


Leadership Team

NamePositionTenureCompensationOwnership
Takeshi Aoki
President2.83yrsno data0.034% ¥105.8m
Sotaro Ito
Senior Managing Officer4.08yrsno datano data
Koji Kawashima
Senior Managing Officer4.08yrsno datano data
Masahiko Ikuta
Senior Managing Executive Officer & Director1.83yrsno data0.023% ¥70.6m
Kozo Kodama
Executive VP & Representative Director4.08yrsno data0.024% ¥72.8m
Syuichi Kubo
President of R&D Operation and Senior Managing Officer3yrsno datano data
Kazushige Ohno
Managing Officer7yrsno datano data
Honchin Endo
Managing Officer4.08yrsno datano data
Yasuji Hiramatsu
Managing Officer4.08yrsno datano data
Hisashi Sano
Managing Officer3yrsno datano data

4.1yrs

Average Tenure

56.5yo

Average Age

Experienced Management: 4062's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Takeshi Aoki
President2.83yrsno data0.034% ¥105.8m
Masahiko Ikuta
Senior Managing Executive Officer & Director1.83yrsno data0.023% ¥70.6m
Kozo Kodama
Executive VP & Representative Director4.08yrsno data0.024% ¥72.8m
Hiroki Takenaka
Chairman of the Board2.83yrsno data0.079% ¥242.6m
Keiichi Sakashita
Director2.83yrsno data0.030% ¥92.6m
Chiaki Yamaguchi
Outside Director5.83yrsno data0.0072% ¥22.1m
Fumio Kato
Outside Director2.83yrsno data0.0014% ¥4.4m
Yoichi Kuwayama
Director2.83yrsno data0.029% ¥90.4m
Masaki Horie
Outside Director2.83yrsno datano data
Toshio Mita
Outside Director2.83yrsno data0.00072% ¥2.2m

2.8yrs

Average Tenure

65.5yo

Average Age

Experienced Board: 4062's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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.


Top Shareholders

Company Information

Ibiden Co.,Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ibiden Co.,Ltd.
  • Ticker: 4062
  • Exchange: TSE
  • Founded: 1912
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: JP¥308.118b
  • Shares outstanding: 139.74m
  • Website: https://www.ibiden.co.jp

Number of Employees


Location

  • Ibiden Co.,Ltd.
  • 2-1, Kanda-cho
  • Ogaki
  • Gifu
  • 503-8604
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
4062TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
IBID.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992
IBIDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992

Biography

Ibiden Co., Ltd. provides electronic and ceramics products in Japan, Asia, North America, Europe, and internationally. It operates through three segments: Electronics Operation, Ceramics Operation, and Construction. The company offers printed wiring boards for use in mobile electronic equipment/information communication infrastructure; and package substrates for computers, mobile devices, and home information appliances. It also provides free via stacked up structures, build-up FC-CSP products, build-up substrates, and flip chip packages, as well as IC package substrates. In addition, the company offers diesel particulate filters; substrate holding mats; NOx reduction catalysts; high temperature insulation wool products; and fine ceramics products, as well as graphite specialty products for semiconductor manufacturing equipment and new energy-related products. Further, it provides ceramics fibers, automotive exhaust system components, SCR catalysts, and ceramic honeycombs; decorative interior laminates for use in residential housing equipment, commercial facilities, offices, hospitals, etc.; and construction materials, as well as develops houses. Additionally, the company provides garden and slope construction services; owns and operates three hydroelectric, as well as generates electricity through solar power; installs industrial equipment; develops medical software packages; and sells information and communication terminals, welfare vehicles, and oil products. It also engages in environmental engineering and synthetic resin processing businesses. The company was formerly known as Ibigawa Electric Power Co., Ltd. and changed its name to Ibiden Co., Ltd. in November 1982. Ibiden Co., Ltd. was founded in 1912 and is headquartered in Ogaki, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 15:13
End of Day Share Price2020/04/07 00:00
Earnings2019/12/31
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.