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Rinnai

OTCPK:RINI.F
Snowflake Description

Flawless balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RINI.F
OTCPK
¥378B
Market Cap
  1. Home
  2. US
  3. Consumer Durables
Company description

Rinnai Corporation develops, manufactures, and sells heating products in Japan and internationally. The last earnings update was 5 days ago. More info.


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RINI.F Share Price and Events
7 Day Returns
0%
OTCPK:RINI.F
2.8%
US Consumer Durables
0.5%
US Market
1 Year Returns
-16.7%
OTCPK:RINI.F
-12%
US Consumer Durables
2%
US Market
RINI.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Rinnai (RINI.F) 0% 0% - -16.7% - -
US Consumer Durables 2.8% 6.4% 12.3% -12% 26.5% 22.6%
US Market 0.5% 6.3% 1.9% 2% 45.1% 40.5%
1 Year Return vs Industry and Market
  • RINI.F underperformed the Consumer Durables industry which returned -12% over the past year.
  • RINI.F underperformed the Market in United States of America which returned 2% over the past year.
Price Volatility
RINI.F
Industry
5yr Volatility vs Market
Related Companies

RINI.F Value

 Is Rinnai 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 Rinnai 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 Rinnai.

OTCPK:RINI.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:RINI.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.923 (1 + (1- 30.86%) (0%))
0.923
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.923 * 7.27%)
9.44%

Discounted Cash Flow Calculation for OTCPK:RINI.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Rinnai is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:RINI.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (JPY, Millions) 16,833.75 16,721.20 18,144.20 18,981.51 19,857.46
Source Analyst x4 Analyst x5 Analyst x5 Est @ 4.61% Est @ 4.61%
Present Value
Discounted (@ 9.44%)
15,381.36 13,960.32 13,841.39 13,230.81 12,647.17
Present value of next 5 years cash flows ¥69,061.05
OTCPK:RINI.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ¥19,857.46 × (1 + 2.73%) ÷ (9.44% – 2.73%)
¥303,903.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ¥303,903.49 ÷ (1 + 9.44%)5
¥193,555.43
OTCPK:RINI.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ¥69,061.05 + ¥193,555.43
¥262,616.48
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥262,616.48 / 51.40
¥51.44
OTCPK:RINI.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:RINI.F represents 0.01007x of TSE:5947
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.01007x
Value per Share
(Listing Adjusted, USD)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 5,109.29 x 0.01007
$51.44
Value per share (USD) From above. $51.44
Current discount Discount to share price of $74.10
= -1 x ($74.10 - $51.44) / $51.44
-44.1%

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

  • The current share price of Rinnai 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 Rinnai's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Rinnai's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:RINI.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥379.74
TSE:5947 Share Price ** TSE (2018-11-19) in JPY ¥7360
United States of America Consumer Durables Industry PE Ratio Median Figure of 49 Publicly-Listed Consumer Durables Companies 12.26x
United States of America Market PE Ratio Median Figure of 3,046 Publicly-Listed Companies 16.95x

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

** Primary Listing of Rinnai.

OTCPK:RINI.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:5947 Share Price ÷ EPS (both in JPY)

= 7360 ÷ 379.74

19.38x

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

  • Rinnai is overvalued based on earnings compared to the US Consumer Durables industry average.
  • Rinnai is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Rinnai's expected growth come at a high price?
Raw Data
OTCPK:RINI.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
4.4%per year
United States of America Consumer Durables Industry PEG Ratio Median Figure of 37 Publicly-Listed Consumer Durables Companies 1.05x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

OTCPK:RINI.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.38x ÷ 4.4%

4.42x

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

  • Rinnai is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Rinnai's assets?
Raw Data
OTCPK:RINI.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥5,717.85
TSE:5947 Share Price * TSE (2018-11-19) in JPY ¥7360
United States of America Consumer Durables Industry PB Ratio Median Figure of 70 Publicly-Listed Consumer Durables Companies 1.41x
United States of America Market PB Ratio Median Figure of 5,122 Publicly-Listed Companies 1.81x
OTCPK:RINI.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5947 Share Price ÷ Book Value per Share (both in JPY)

= 7360 ÷ 5,717.85

1.29x

* Primary Listing of Rinnai.

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

  • Rinnai is good value based on assets compared to the US Consumer Durables industry average.
X
Value checks
We assess Rinnai'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 Consumer Durables 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 Consumer Durables industry average (and greater than 0)? (1 check)
  5. Rinnai has a total score of 1/6, 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.

RINI.F Future Performance

 How is Rinnai expected to perform in the next 1 to 3 years based on estimates from 6 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
4.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Rinnai expected to grow at an attractive rate?
  • Rinnai's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Rinnai's earnings growth is positive but not above the United States of America market average.
  • Rinnai's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:RINI.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:RINI.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 4.4%
OTCPK:RINI.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.8%
United States of America Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 17.2%
United States of America Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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
OTCPK:RINI.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:RINI.F Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 395,300 36,900 23,800 1
2022-03-31 384,000 36,236 23,700 1
2021-03-31 367,000 37,204 22,596 6
2020-03-31 362,583 35,781 22,112 6
2019-03-31 349,540 35,900 20,352 5
OTCPK:RINI.F Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 349,299 19,521
2018-09-30 350,069 33,549 20,561
2018-06-30 350,285 20,758
2018-03-31 347,071 29,914 21,194
2017-12-31 341,581 21,960
2017-09-30 334,902 31,255 22,806
2017-06-30 331,789 23,000
2017-03-31 330,256 39,554 22,322
2016-12-31 326,448 22,190
2016-09-30 325,601 37,803 21,725
2016-06-30 324,952 22,203
2016-03-31 319,935 36,066 22,710

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Rinnai's earnings are expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
  • Rinnai's revenue is expected to grow by 2.8% 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
OTCPK:RINI.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Rinnai Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RINI.F Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 463.00 463.00 463.00 1.00
2022-03-31 461.10 461.10 461.10 1.00
2021-03-31 442.50 466.90 414.12 7.00
2020-03-31 431.13 441.23 408.60 7.00
2019-03-31 395.40 400.20 389.10 3.00
OTCPK:RINI.F Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 379.74
2018-09-30 399.89
2018-06-30 403.13
2018-03-31 410.40
2017-12-31 424.05
2017-09-30 439.21
2017-06-30 442.29
2017-03-31 429.25
2016-12-31 426.71
2016-09-30 417.77
2016-06-30 426.96
2016-03-31 436.70

*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.
  • Rinnai is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Rinnai'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Rinnai 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.

RINI.F Past Performance

  How has Rinnai 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 Rinnai's growth in the last year to its industry (Consumer Durables).
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.
  • Rinnai's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Rinnai's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Rinnai's 1-year earnings growth is negative, it can't be compared to the US Consumer Durables industry average.
Earnings and Revenue History
Rinnai'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 Rinnai Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RINI.F Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 349,299.00 19,521.00 75,477.00
2018-09-30 350,069.00 20,561.00 75,044.00
2018-06-30 350,285.00 20,758.00 75,127.00
2018-03-31 347,071.00 21,194.00 72,925.00
2017-12-31 341,581.00 21,960.00 73,725.00
2017-09-30 334,902.00 22,806.00 72,119.00
2017-06-30 331,789.00 23,000.00 70,208.00
2017-03-31 330,256.00 22,322.00 69,438.00
2016-12-31 326,448.00 22,190.00 68,451.00
2016-09-30 325,601.00 21,725.00 67,375.00
2016-06-30 324,952.00 22,203.00 66,771.00
2016-03-31 319,935.00 22,710.00 64,294.00
2015-12-31 313,588.00 22,235.00 63,270.00
2015-09-30 307,694.00 21,876.00 60,965.00
2015-06-30 299,312.00 20,481.00 58,878.00
2015-03-31 295,022.00 20,647.00 57,015.00
2014-12-31 296,258.00 22,243.00 56,034.00
2014-09-30 296,427.00 23,322.00 55,193.00
2014-06-30 294,313.00 24,575.00 53,729.00
2014-03-31 286,981.00 23,254.00 52,725.00
2013-12-31 273,084.00 21,160.00 50,508.00
2013-09-30 264,938.00 20,537.00 49,323.00
2013-06-30 256,681.00 19,393.00 48,089.00
2013-03-31 251,832.00 19,371.00 46,622.00
2012-12-31 249,602.00 19,805.00 46,520.00
2012-09-30 246,578.00 17,705.00 45,771.00
2012-06-30 245,495.00 17,653.00 45,399.00
2012-03-31 246,636.00 16,807.00 45,583.00

*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.
  • Rinnai has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Rinnai used its assets less efficiently than the US Consumer Durables industry average last year based on Return on Assets.
  • Rinnai's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Rinnai'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 Consumer Durables 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.
Rinnai has a total score of 0/6, 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.

RINI.F Health

 How is Rinnai'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 Rinnai's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Rinnai is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Rinnai's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Rinnai'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.
  • Rinnai has no debt, it does not need to be covered by short term assets.
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 Rinnai Company Filings, last reported 1 month ago.

OTCPK:RINI.F Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 314,313.00 0.00 142,126.00
2018-09-30 311,089.00 0.00 148,435.00
2018-06-30 306,684.00 0.00 149,304.00
2018-03-31 307,964.00 0.00 142,691.00
2017-12-31 300,160.00 0.00 126,821.00
2017-09-30 293,080.00 0.00 119,931.00
2017-06-30 293,039.00 0.00 121,965.00
2017-03-31 290,637.00 0.00 123,788.00
2016-12-31 277,750.00 0.00 107,293.00
2016-09-30 270,247.00 0.00 106,601.00
2016-06-30 270,181.00 0.00 110,710.00
2016-03-31 271,709.00 0.00 108,564.00
2015-12-31 267,085.00 804.00 98,079.00
2015-09-30 266,754.00 875.00 100,378.00
2015-06-30 261,486.00 1,243.00 94,693.00
2015-03-31 261,413.00 1,976.00 101,842.00
2014-12-31 246,558.00 2,516.00 86,882.00
2014-09-30 238,310.00 4,904.00 91,930.00
2014-06-30 234,709.00 5,837.00 98,126.00
2014-03-31 232,633.00 5,950.00 111,031.00
2013-12-31 214,159.00 6,599.00 94,665.00
2013-09-30 207,598.00 6,392.00 91,129.00
2013-06-30 199,271.00 6,381.00 97,702.00
2013-03-31 178,007.00 6,298.00 87,170.00
2012-12-31 168,069.00 5,826.00 70,391.00
2012-09-30 161,789.00 7,497.00 67,882.00
2012-06-30 158,851.00 8,457.00 70,859.00
2012-03-31 154,738.00 7,579.00 70,247.00
  • Rinnai has no debt.
  • Rinnai has no debt compared to 5 years ago when it was 3.1%.
  • Rinnai has no debt, it does not need to be covered by operating cash flow.
  • Rinnai has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Rinnai'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. Rinnai 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.

RINI.F Dividends

 What is Rinnai'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
1.25%
Current annual income from Rinnai dividends. Estimated to be 1.29% next year.
If you bought $2,000 of Rinnai shares you are expected to receive $25 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?
  • Rinnai's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Rinnai's dividend is below the markets top 25% of dividend payers in United States of America (3.62%).
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
OTCPK:RINI.F 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 6 Analyst Estimates (S&P Global) See Below
United States of America Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

OTCPK:RINI.F Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 93.00 1.00
2022-03-31 92.00 1.00
2021-03-31 98.57 7.00
2020-03-31 95.43 7.00
2019-03-31 92.00 7.00
OTCPK:RINI.F Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2018-11-13 92.000 1.233
2018-11-07 92.000 1.148
2018-05-30 92.000 1.031
2018-02-13 88.000 0.863
2018-02-07 92.000 0.935
2017-11-13 92.000 0.909
2017-11-07 92.000 0.927
2017-06-28 90.000 0.914
2017-05-09 90.000 0.887
2017-02-13 88.000 0.966
2017-02-07 88.000 0.962
2016-11-11 88.000 0.932
2016-11-04 88.000 0.950
2016-06-28 86.000 0.896
2016-05-10 86.000 0.934
2016-02-12 84.000 0.850
2016-02-05 84.000 0.850
2015-11-12 80.000 0.749
2015-11-05 80.000 0.770
2015-08-04 82.000 0.878
2015-06-26 82.000 0.881
2015-05-08 82.000 0.859
2015-02-12 76.000 0.863
2015-02-06 76.000 0.898
2014-11-12 76.000 0.925
2014-11-05 76.000 0.857
2014-06-27 76.000 0.815
2014-05-09 76.000 0.813
2014-02-12 64.000 0.759
2014-02-07 64.000 0.798
2013-11-05 64.000 0.813
2013-08-05 64.000 0.899
2013-06-27 60.000 0.829
2013-05-10 64.000 0.864
2013-02-12 60.000 0.873
2013-02-07 60.000 0.927
2012-11-12 60.000 1.007
2012-11-05 60.000 1.133
2012-08-03 60.000 1.088
2012-06-28 56.000 1.083
2012-05-11 60.000 1.168
2012-02-10 56.000 0.962
2012-02-07 56.000 1.022
2011-11-11 56.000 1.014
2011-11-04 56.000 0.950
2011-08-05 56.000 0.938
2011-06-29 56.000 0.941
2011-05-11 56.000 0.994
2011-02-10 48.000 0.922
2011-02-08 48.000 0.936
2010-11-12 48.000 0.954
2010-11-05 48.000 0.955
2010-06-29 44.000 0.912
2010-05-11 44.000 0.948
2010-02-12 40.000 0.848
2010-02-08 40.000 0.898
2009-11-12 40.000 0.908
2009-11-05 40.000 1.001
2009-08-05 40.000 0.955
2009-05-11 40.000 0.978
2009-02-16 40.000 1.166

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Rinnai's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.1x coverage).
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 Rinnai'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 Rinnai afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Rinnai has a total score of 3/6, see the detailed checks below.


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

RINI.F Management

 What is the CEO of Rinnai'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
Hiroyasu Naito
AGE 63
TENURE AS CEO 13.3 years
CEO Bio

Mr. Hiroyasu Naito serves as the President and an Executive Officer of Rinnai Corp. Mr. Naito served as a Managing Director of Rinnai Corp. He serves as a Director at Rinnai Corporation. Mr. Naito Graduated from Tokyo University (Engineering Dept.).

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

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

2.8
Average Tenure
63
Average Age
  • The tenure for the Rinnai management team is about average.
Management Team

Hiroyasu Naito

TITLE
President
AGE
63
TENURE
13.3 yrs

Yasuo Koketsu

TITLE
Managing Exec. Officer & GM of Administration Headquarters
TENURE
2.8 yrs

Yuji Kondo

TITLE
Sr. Managing Exec. Officer
AGE
62
TENURE
2.8 yrs

Tsunenori Narita

TITLE
Executive VP & Director
AGE
70

Masao Kosugi

TITLE
Sr. Managing Exec. Officer
AGE
63
TENURE
7.8 yrs

Mitsuhiro Hasegawa

TITLE
President of Rinnai Precision Co.
TENURE
3.8 yrs

Takeshi Umemura

TITLE
President of RT Engineering Co.
TENURE
2.8 yrs

Hirohisa Ohi

TITLE
President of Noto Tech Co.
TENURE
2.8 yrs

Yoshinari Iwata

TITLE
President of Japan Ceramics Co.
TENURE
2.8 yrs

Katsuhiko Shinji

TITLE
Executive Officer
Board of Directors Tenure

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

3.7
Average Tenure
66
Average Age
  • The tenure for the Rinnai board of directors is about average.
Board of Directors

Kenji Hayashi

TITLE
Vice Chairman
AGE
69

Hiroyasu Naito

TITLE
President
AGE
63
TENURE
13.3 yrs

Yuji Kondo

TITLE
Sr. Managing Exec. Officer
AGE
62
TENURE
5.8 yrs

Tsunenori Narita

TITLE
Executive VP & Director
AGE
70

Masao Kosugi

TITLE
Sr. Managing Exec. Officer
AGE
63
TENURE
7.8 yrs

Nobuyuki Matsui

TITLE
Outside Director
AGE
75
TENURE
4.7 yrs

Takashi Kamio

TITLE
Outside Director
TENURE
2.7 yrs

Tak Sonoda

TITLE
Standing Corporate Auditor
TENURE
2.7 yrs

Haruhiko Ishikawa

TITLE
Standing Corporate Auditor
TENURE
2.7 yrs

Masaaki Matsuoka

TITLE
Outside Corporate Auditor
TENURE
2.7 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 Rinnai'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. Rinnai 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.

RINI.F News

Simply Wall St News

RINI.F Company Info

Map
Description

Rinnai Corporation develops, manufactures, and sells heating products in Japan and internationally. The company’s products comprise hot water units, such as bath hot-water units, hot-water and heating units, gas/solar hybrid hot-water systems, heating systems, etc.; and air conditioners comprise fan heaters, fan-forced heaters, infrared heaters, etc. Its products also include kitchen appliances, including tabletop stoves, built-in-stoves, ovens, food ranges, dishwashers, rice cookers, etc.; commercial-use equipment, such as grills, gas stoves, rice cookers, etc.; and others consist of cloth dryers, infrared burners, parts, etc. The company was formerly known as Rinnai & Co. and changed its name to Rinnai Corporation in 1971. Rinnai Corporation was founded in 1920 and is headquartered in Nagoya, Japan.

Details
Name: Rinnai Corporation
RINI.F
Exchange: OTCPK
Founded: 1920
¥3,413,664,101
51,399,763
Website: http://www.rinnai.co.jp
Address: Rinnai Corporation
2-26, Fukuzumi-cho,
Nakagawa-ku,
Nagoya,
Aichi, 454-0802,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5947 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK RINI.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
Number of employees
Current staff
Staff numbers
10,571
Rinnai employees.
Industry
Household Appliances
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/13 23:59
End of day share price update: 2018/11/19 00:00
Last estimates confirmation: 2019/02/11
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.