Announcement • May 15
Azbil Corporation (TSE:6845) announces an Equity Buyback for 32,000,000 shares, representing 6.18% for ¥20,000 million. Azbil Corporation (TSE:6845) announces a share repurchase program. Under the program, the company will repurchase up to 32,000,000 shares, representing 6.18% of its issued share capital, for ¥20,000 million. The purpose of the program is to improve capital efficiency and also to enhance the return of profits to shareholders and develop flexible capital policies responding to changes in the corporate environment. The program is valid till October 30, 2026 As of March 31, 2026, the company had 517,850,091 outstanding shares (excluding treasury stock) and 23,522,645 treasury shares. Buy Or Sell Opportunity • May 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to JP¥1,546. The fair value is estimated to be JP¥1,273, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 1.1% per annum over the same time period. Announcement • May 13
Azbil Corporation, Annual General Meeting, Jun 24, 2026 Azbil Corporation, Annual General Meeting, Jun 24, 2026. Buy Or Sell Opportunity • Apr 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.4% to JP¥1,481. The fair value is estimated to be JP¥1,233, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 9.6% in 2 years. Earnings are forecast to grow by 8.9% in the next 2 years. Announcement • Mar 26
Azbil Corporation to Report Fiscal Year 2026 Results on May 13, 2026 Azbil Corporation announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: JP¥18.16 (down from JP¥33.71 in 3Q 2025). Revenue: JP¥75.2b (down 4.4% from 3Q 2025). Net income: JP¥9.22b (down 48% from 3Q 2025). Profit margin: 12% (down from 23% in 3Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Dec 24
Azbil Corporation to Report Q3, 2026 Results on Feb 06, 2026 Azbil Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Declared Dividend • Dec 06
First half dividend of JP¥13.00 announced Shareholders will receive a dividend of JP¥13.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 1.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. New Risk • Nov 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 07
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: JP¥16.34 (up from JP¥11.49 in 2Q 2025). Revenue: JP¥70.8b (down 3.9% from 2Q 2025). Net income: JP¥8.28b (up 37% from 2Q 2025). Profit margin: 12% (up from 8.2% in 2Q 2025). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. New Risk • Nov 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Announcement • Sep 25
Azbil Corporation to Report Q2, 2026 Results on Nov 05, 2025 Azbil Corporation announced that they will report Q2, 2026 results on Nov 05, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.7%). Reported Earnings • Aug 07
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: JP¥10.08 (up from JP¥9.25 in 1Q 2025). Revenue: JP¥62.1b (down 5.3% from 1Q 2025). Net income: JP¥5.19b (up 6.3% from 1Q 2025). Profit margin: 8.4% (up from 7.4% in 1Q 2025). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥13.00 announced Shareholders will receive a dividend of JP¥13.00. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 1.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 4.4% over the next 3 years. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jun 27
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥77.96 (up from JP¥57.10 in FY 2024). Revenue: JP¥300.4b (up 3.2% from FY 2024). Net income: JP¥41.0b (up 36% from FY 2024). Profit margin: 14% (up from 10% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.1%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jun 13
Azbil Corporation to Report Q1, 2026 Results on Aug 05, 2025 Azbil Corporation announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • May 15
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥77.96 (up from JP¥57.10 in FY 2024). Revenue: JP¥300.4b (up 3.2% from FY 2024). Net income: JP¥41.0b (up 36% from FY 2024). Profit margin: 14% (up from 10% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.1%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Azbil Corporation (TSE:6845) announces an Equity Buyback for 24,000,000 shares, representing 4.54% for ¥15,000 million. Azbil Corporation (TSE:6845) announces a share repurchase program. Under the program, the company will repurchase up to 24,000,000 shares, representing 4.54% of its issued share capital, for ¥15,000 million. The purpose of the program is to to improve capital efficiency but also to enhance the return of profits to shareholders and develop flexible capital policies responding to changes in the corporate environment. The program is valid till October 29, 2025. As of March 31, 2025, the company had 528,688,860 outstanding shares (excluding treasury stock) and 31,983,876 treasury shares. Announcement • May 13
Azbil Corporation, Annual General Meeting, Jun 25, 2025 Azbil Corporation, Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.7%). Announcement • Mar 08
Azbil Corporation to Report Fiscal Year 2025 Results on May 13, 2025 Azbil Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 07
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥33.71 (up from JP¥13.74 in 3Q 2024). Revenue: JP¥78.7b (up 7.1% from 3Q 2024). Net income: JP¥17.8b (up 145% from 3Q 2024). Profit margin: 23% (up from 9.8% in 3Q 2024). Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 105%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 07
First half dividend of JP¥11.00 announced Shareholders will receive a dividend of JP¥11.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 4.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Nov 28
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥57.86 to JP¥63.93. Revenue forecast steady at JP¥298.9b. Net income forecast to grow 14% next year vs 15% growth forecast for Electronic industry in Japan. Consensus price target broadly unchanged at JP¥1,370. Share price was steady at JP¥1,215 over the past week. Reported Earnings • Nov 09
Second quarter 2025 earnings: Revenues exceed analyst expectations Second quarter 2025 results: Revenue: JP¥73.7b (up 4.3% from 2Q 2024). Net income: JP¥6.06b (down 26% from 2Q 2024). Profit margin: 8.2% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.7%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Nov 08
Azbil Corporation (TSE:6845) announces an Equity Buyback for 24,000,000 shares, representing 4.47% for ¥15,000 million. Azbil Corporation (TSE:6845) announces a share repurchase program. Under the program, the company will repurchase up to 24,000,000 shares, representing 4.47% of its issued share capital, for ¥15,000 million. The purpose of the program is to improve capital efficiency, to enable further return of profits to shareholders and the implementation of a flexible capital policy in response to changes in the corporate environment. The program is valid till March 24, 2025. As of September 30, 2024, the company had 537,436,788 outstanding shares (excluding treasury stock) and 28,595,948 treasury shares. Announcement • Oct 15
Azbil Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025 Azbil Corporation revised consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, the company expects Net sales of JPY 300,000 million compared to the previous forecast of JPY 300,000 million, Operating income of JPY 39,000 million compared to the previous forecast of JPY 37,500 million, Net income attributable to owners of parent of JPY 37,000 million compared to the previous forecast of JPY 28,000 million and Net income per share of JPY 70.05 compared to the previous forecast of JPY 53.10. Reasons for the revision to the forecast of consolidated financial results: Regarding the forecast of consolidated financial results for the fiscal year ending March 31, 2025, there is an impact to full-year consolidated net sales and consolidated operating income due to the exclusion of Azbil Telstar from the Company's scope of the consolidation following the transfer of the equity interests in Azbil Telstar. However, owing to the progress of initiatives to improve profitability including cost pass- throughs in each of businesses, in addition to steady progress in the existing building and service fields in the Building Automation business, while keep the forecast for consolidated net sales unchanged. Consequently, net income attributable to owners of parent is also expected to be higher than the previous forecast. Announcement • Sep 26
Azbil Corporation to Report Q2, 2025 Results on Nov 08, 2024 Azbil Corporation announced that they will report Q2, 2025 results on Nov 08, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Board Change • Aug 30
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Outside Director Hiroshi Yoshida was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 12
First quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2025 results: EPS: JP¥37.01 (up from JP¥27.81 in 1Q 2024). Revenue: JP¥65.5b (up 7.1% from 1Q 2024). Net income: JP¥4.88b (up 32% from 1Q 2024). Profit margin: 7.4% (up from 6.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Aug 09
Azbil Corporation Provides Dividend Guidance for the Second Quarter End and Fiscal Year- End of Year Ending March 31, 2025 Azbil Corporation provided dividend guidance for the second quarter and Fiscal year- end of Year ending March 31, 2025. For the second quarter end, company expects dividend of JPY 44.00 per share compared to JPY 36.50 per share a year ago.
For the year-end ending March 31, 2025, company expects dividend of JPY 11.00 per share compared to JPY 39.50 per share a year ago.
Azbil Corporation ("the Company") has resolved, at the Board of Directors held on May 13, 2024, to implement a 4-for-1 common stock split effective on October 1, 2024. As regards dividend per share for the year ending March 31, 2025 (forecast). New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥3,317, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,356 per share. Buy Or Sell Opportunity • Aug 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to JP¥3,317. The fair value is estimated to be JP¥4,356, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 3.4% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥44.00 announced Shareholders will receive a dividend of JP¥44.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 1.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jul 01
Now 18% overvalued after recent price rise Over the last 90 days, the stock has risen 5.5% to JP¥4,453. The fair value is estimated to be JP¥3,773, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 3.6% per annum over the same time period. Buy Or Sell Opportunity • Jun 27
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 7.5% to JP¥4,508. The fair value is estimated to be JP¥3,688, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 3.6% per annum over the same time period. Announcement • Jun 21
Azbil Corporation to Report Q1, 2025 Results on Aug 07, 2024 Azbil Corporation announced that they will report Q1, 2025 results on Aug 07, 2024 Announcement • Jun 08
Syntegon Technology GmbH reached an agreement to acquire AZBIL TELSTAR, S.L.U. from Azbil Corporation (TSE:6845). Syntegon Technology GmbH reached an agreement to acquire AZBIL TELSTAR, S.L.U. from Azbil Corporation (TSE:6845) on June 6, 2024. As part of the agreement, Syntegon will acquire 100% stake in AZBIL TELSTAR. For the period ending December 31, 2023, AZBIL TELSTAR, S.L.U. reported consolidated sales of €125.67 million, consolidated operating income of €6.91 million, consolidated total assets of €90.98 million and consolidated net assets of €19.66 million. Buy Or Sell Opportunity • May 28
Now 22% overvalued Over the last 90 days, the stock has fallen 1.3% to JP¥4,416. The fair value is estimated to be JP¥3,617, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 3.8% per annum over the same time period. Reported Earnings • May 16
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥228 (up from JP¥168 in FY 2023). Revenue: JP¥290.9b (up 4.5% from FY 2023). Net income: JP¥30.2b (up 34% from FY 2023). Profit margin: 10% (up from 8.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.4%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Azbil Corporation, Annual General Meeting, Jun 25, 2024 Azbil Corporation, Annual General Meeting, Jun 25, 2024. Buy Or Sell Opportunity • Apr 22
Now 24% overvalued Over the last 90 days, the stock has fallen 13% to JP¥4,347. The fair value is estimated to be JP¥3,518, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are forecast to decline by 1.7% per annum over the same time period. Buy Or Sell Opportunity • Apr 04
Now 24% overvalued Over the last 90 days, the stock has fallen 9.0% to JP¥4,304. The fair value is estimated to be JP¥3,483, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are forecast to decline by 1.7% per annum over the same time period. Announcement • Mar 27
Azbil Corporation to Report Fiscal Year 2024 Results on May 13, 2024 Azbil Corporation announced that they will report fiscal year 2024 results on May 13, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥36.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Buy Or Sell Opportunity • Mar 18
Now 23% overvalued Over the last 90 days, the stock has fallen 7.7% to JP¥4,302. The fair value is estimated to be JP¥3,503, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 1.0% per annum. Earnings are forecast to decline by 2.0% per annum over the same time period. Reported Earnings • Feb 10
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: JP¥54.94 (up from JP¥33.65 in 3Q 2023). Revenue: JP¥73.5b (up 4.8% from 3Q 2023). Net income: JP¥7.23b (up 61% from 3Q 2023). Profit margin: 9.8% (up from 6.4% in 3Q 2023). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Feb 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Dec 14
Azbil Corporation to Report Q3, 2024 Results on Feb 08, 2024 Azbil Corporation announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥62.24 (up from JP¥29.71 in 2Q 2023). Revenue: JP¥70.7b (up 8.8% from 2Q 2023). Net income: JP¥8.23b (up 107% from 2Q 2023). Profit margin: 12% (up from 6.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 38%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Sep 27
Azbil Corporation to Report Q2, 2024 Results on Nov 07, 2023 Azbil Corporation announced that they will report Q2, 2024 results on Nov 07, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥36.50 per share at 1.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Board Change • Aug 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Shigeaki Yoshikawa was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 09
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥27.81 (up from JP¥15.19 in 1Q 2023). Revenue: JP¥61.2b (up 9.2% from 1Q 2023). Net income: JP¥3.71b (up 79% from 1Q 2023). Profit margin: 6.1% (up from 3.7% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 86%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Announcement • Jun 26
Azbil Corporation to Report Q1, 2024 Results on Aug 08, 2023 Azbil Corporation announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • May 18
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥168 (up from JP¥151 in FY 2022). Revenue: JP¥278.4b (up 8.5% from FY 2022). Net income: JP¥22.6b (up 8.7% from FY 2022). Profit margin: 8.1% (in line with FY 2022). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 4.5%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥4,405, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,276 per share. Announcement • May 14
Azbil Corporation (TSE:6845) announces an Equity Buyback for 4,000,000 shares, representing 2.93% for ¥10,000 million. Azbil Corporation (TSE:6845) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 2.93% of its issued share capital (excluding treasury stock), for a total purchase price of ¥10,000 million. The purpose of the program is to enable the execution of a flexible capital policy that responds to changes in the corporate environment. Repurchased shares will be cancelled. The program will be valid till September 22, 2023. As of March 31, 2023, the company had 136,552,663 issued shares (excluding treasury stock) and 7,148,221 treasury shares.