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JFE Holdings

OTCPK:JFEE.F
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JFEE.F
OTCPK
¥1,128B
Market Cap
  1. Home
  2. US
  3. Materials
Company description

JFE Holdings, Inc., through its subsidiaries, engages in steel manufacturing, engineering, and trading businesses in Japan and internationally. The last earnings update was 69 days ago. More info.


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JFEE.F Share Price and Events
7 Day Returns
0%
OTCPK:JFEE.F
-2.2%
US Metals and Mining
0.4%
US Market
1 Year Returns
-12.8%
OTCPK:JFEE.F
-20.4%
US Metals and Mining
6.8%
US Market
JFEE.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
JFE Holdings (JFEE.F) 0% -2.7% - -12.8% - -
US Metals and Mining -2.2% 3.3% 12.1% -20.4% 21.3% -9.5%
US Market 0.4% 2.6% 11% 6.8% 38.1% 45.7%
1 Year Return vs Industry and Market
  • JFEE.F outperformed the Metals and Mining industry which returned -20.4% over the past year.
  • JFEE.F underperformed the Market in United States of America which returned 6.8% over the past year.
Price Volatility
JFEE.F
Industry
5yr Volatility vs Market

Value

 Is JFE Holdings 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 JFE Holdings 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 JFE Holdings.

OTCPK:JFEE.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 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.6%
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:JFEE.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.043 (1 + (1- 30.86%) (128.3%))
1.649
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.65
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.649 * 5.96%)
12.56%

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

The calculations below outline how an intrinsic value for JFE Holdings 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.

OTCPK:JFEE.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 12.56%)
2019 -20,070.75 Analyst x4 -17,831.43
2020 92,693.20 Analyst x5 73,163.25
2021 85,764.80 Analyst x5 60,141.85
2022 80,565.50 Analyst x4 50,192.56
2023 92,710.00 Analyst x3 51,314.41
2024 182,000.00 Analyst x1 89,496.64
2025 218,263.62 Est @ 19.93% 95,354.08
2026 250,493.62 Est @ 14.77% 97,224.82
2027 278,437.65 Est @ 11.16% 96,013.21
2028 302,460.99 Est @ 8.63% 92,660.56
Present value of next 10 years cash flows ¥687,729.94
OTCPK:JFEE.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥302,460.99 × (1 + 2.73%) ÷ (12.56% – 2.73%)
¥3,161,470.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥3,161,470.98 ÷ (1 + 12.56%)10
¥968,533.79
OTCPK:JFEE.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥687,729.94 + ¥968,533.79
¥1,656,263.73
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥1,656,263.73 / 575.86
¥2876.14
OTCPK:JFEE.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:JFEE.F represents 0.00874x of TSE:5411
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00874x
Value per Share
(Listing Adjusted, USD)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,876.14 x 0.00874
$25.14
Value per share (USD) From above. $25.14
Current discount Discount to share price of $17.12
= -1 x ($17.12 - $25.14) / $25.14
31.9%

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

Current Discount
Amount off the current price JFE Holdings is available for.
Intrinsic value
32%
Share price is $17.12 vs Future cash flow value of $25.14
Current Discount Checks
For JFE Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • JFE Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • JFE Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 JFE Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are JFE Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:JFEE.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥272.57
TSE:5411 Share Price ** TSE (2019-03-25) in JPY ¥1958.5
United States of America Metals and Mining Industry PE Ratio Median Figure of 43 Publicly-Listed Metals and Mining Companies 9.2x
United States of America Market PE Ratio Median Figure of 3,072 Publicly-Listed Companies 18.08x

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

** Primary Listing of JFE Holdings.

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

= TSE:5411 Share Price ÷ EPS (both in JPY)

= 1958.5 ÷ 272.57

7.19x

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

  • JFE Holdings is good value based on earnings compared to the US Metals and Mining industry average.
  • JFE Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does JFE Holdings's expected growth come at a high price?
Raw Data
OTCPK:JFEE.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
2.6%per year
United States of America Metals and Mining Industry PEG Ratio Median Figure of 24 Publicly-Listed Metals and Mining Companies 0.68x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.19x ÷ 2.6%

2.76x

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

  • JFE Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on JFE Holdings's assets?
Raw Data
OTCPK:JFEE.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥3,483.76
TSE:5411 Share Price * TSE (2019-03-25) in JPY ¥1958.5
United States of America Metals and Mining Industry PB Ratio Median Figure of 99 Publicly-Listed Metals and Mining Companies 1.49x
United States of America Market PB Ratio Median Figure of 5,176 Publicly-Listed Companies 1.91x
OTCPK:JFEE.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5411 Share Price ÷ Book Value per Share (both in JPY)

= 1958.5 ÷ 3,483.76

0.56x

* Primary Listing of JFE Holdings.

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

  • JFE Holdings is good value based on assets compared to the US Metals and Mining industry average.
X
Value checks
We assess JFE Holdings'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 Metals and Mining 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 Metals and Mining industry average (and greater than 0)? (1 check)
  5. JFE Holdings has a total score of 4/6, 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.

Future Performance

 How is JFE Holdings expected to perform in the next 1 to 3 years based on estimates from 11 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
2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is JFE Holdings expected to grow at an attractive rate?
  • JFE Holdings's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • JFE Holdings's earnings growth is positive but not above the United States of America market average.
  • JFE Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:JFEE.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:JFEE.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 2.6%
OTCPK:JFEE.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 0.3%
United States of America Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United States of America Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*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:JFEE.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:JFEE.F Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 3,840,000 447,000 175,000 1
2023-03-31 4,045,325 385,158 176,925 4
2022-03-31 3,922,300 360,432 159,320 5
2021-03-31 3,939,727 350,608 148,157 10
2020-03-31 3,987,454 335,753 142,981 11
2019-03-31 3,891,970 290,186 157,813 9
OTCPK:JFEE.F Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 3,946,974 157,078
2018-09-30 3,860,568 342,715 168,085
2018-06-30 3,768,060 148,950
2018-03-31 3,678,612 298,811 144,638
2017-12-31 3,668,072 173,261
2017-09-30 3,534,709 168,742 163,394
2017-06-30 3,415,215 136,779
2017-03-31 3,308,992 185,481 67,939
2016-12-31 3,195,400 29,623
2016-09-30 3,218,104 217,320 -4,688
2016-06-30 3,315,303 4,586
2016-03-31 3,431,740 267,102 33,657

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • JFE Holdings's earnings are expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
  • JFE Holdings's revenue is expected to grow by 0.3% 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:JFEE.F 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 11 Analyst Estimates (S&P Global) See Below

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

OTCPK:JFEE.F Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 303.90 303.90 303.90 1.00
2023-03-31 303.98 329.90 277.80 3.00
2022-03-31 272.66 329.90 234.43 4.00
2021-03-31 269.10 322.63 194.90 10.00
2020-03-31 248.31 291.50 207.10 12.00
2019-03-31 274.27 284.47 260.50 10.00
OTCPK:JFEE.F Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 272.57
2018-09-30 291.59
2018-06-30 258.35
2018-03-31 250.86
2017-12-31 300.49
2017-09-30 283.36
2017-06-30 237.19
2017-03-31 117.81
2016-12-31 51.37
2016-09-30 -8.13
2016-06-30 7.95
2016-03-31 58.36

*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.
  • JFE Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess JFE Holdings'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.
JFE Holdings has a total score of 0/6, 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.

Past Performance

  How has JFE Holdings 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 JFE Holdings's growth in the last year to its industry (Metals and Mining).
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.
  • JFE Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • JFE Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • JFE Holdings's 1-year earnings growth is negative, it can't be compared to the US Metals and Mining industry average.
Earnings and Revenue History
JFE Holdings'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 JFE Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:JFEE.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 3,946,974.00 157,078.00 352,864.00
2018-09-30 3,860,568.00 168,085.00 346,453.00
2018-06-30 3,768,060.00 148,950.00 341,422.00
2018-03-31 3,678,612.00 144,638.00 335,923.00
2017-12-31 3,668,072.00 173,261.00 333,329.00
2017-09-30 3,534,709.00 163,394.00 328,823.00
2017-06-30 3,415,215.00 136,779.00 325,249.00
2017-03-31 3,308,992.00 67,939.00 322,593.00
2016-12-31 3,195,400.00 29,623.00 320,311.00
2016-09-30 3,218,104.00 -4,688.00 320,178.00
2016-06-30 3,315,303.00 4,586.00 322,720.00
2016-03-31 3,431,740.00 33,657.00 323,343.00
2015-12-31 3,579,109.00 70,291.00 323,196.00
2015-09-30 3,715,522.00 116,933.00 321,716.00
2015-06-30 3,779,817.00 141,196.00 317,049.00
2015-03-31 3,850,355.00 139,357.00 314,774.00
2014-12-31 3,843,115.00 132,691.00 311,706.00
2014-09-30 3,786,588.00 106,945.00 307,537.00
2014-06-30 3,754,671.00 94,927.00 303,786.00
2014-03-31 3,666,859.00 102,382.00 298,151.00
2013-12-31 3,525,261.00 93,777.00 292,583.00
2013-09-30 3,462,879.00 85,908.00 292,249.00
2013-06-30 3,298,394.00 44,429.00 277,550.00
2013-03-31 3,189,196.00 39,599.00 265,161.00
2012-12-31 3,128,619.00 22,536.00 252,729.00
2012-09-30 3,051,843.00 -10,842.00 238,784.00
2012-06-30 3,142,613.00 -25,620.00 241,464.00

*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.
  • JFE Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • JFE Holdings used its assets less efficiently than the US Metals and Mining industry average last year based on Return on Assets.
  • JFE Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess JFE Holdings'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 Metals and Mining 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.
JFE Holdings 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.

Health

 How is JFE Holdings'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 JFE Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • JFE Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • JFE Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of JFE Holdings'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 1.4x 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 JFE Holdings Company Filings, last reported 3 months ago.

OTCPK:JFEE.F Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,071,686.00 1,446,981.00 86,028.00
2018-09-30 2,075,312.00 1,360,625.00 92,075.00
2018-06-30 2,028,418.00 1,349,915.00 78,855.00
2018-03-31 2,006,563.00 1,330,918.00 76,111.00
2017-12-31 2,012,606.00 1,362,302.00 72,691.00
2017-09-30 1,978,824.00 1,358,444.00 64,457.00
2017-06-30 1,936,630.00 1,356,855.00 71,920.00
2017-03-31 1,921,807.00 1,375,468.00 69,936.00
2016-12-31 1,860,800.00 1,387,510.00 69,844.00
2016-09-30 1,784,725.00 1,420,315.00 142,550.00
2016-06-30 1,805,555.00 1,484,330.00 209,863.00
2016-03-31 1,857,920.00 1,379,372.00 64,654.00
2015-12-31 1,922,496.00 1,409,777.00 80,379.00
2015-09-30 1,944,175.00 1,456,370.00 86,263.00
2015-06-30 1,986,535.00 1,480,592.00 76,918.00
2015-03-31 1,990,022.00 1,501,760.00 85,889.00
2014-12-31 1,888,815.00 1,586,008.00 73,453.00
2014-09-30 1,809,035.00 1,544,535.00 65,456.00
2014-06-30 1,750,969.00 1,533,898.00 65,641.00
2014-03-31 1,745,929.00 1,534,035.00 62,913.00
2013-12-31 1,720,821.00 1,571,446.00 63,490.00
2013-09-30 1,693,508.00 1,565,894.00 66,661.00
2013-06-30 1,644,546.00 1,575,774.00 59,056.00
2013-03-31 1,596,795.00 1,596,363.00 64,621.00
2012-12-31 1,524,328.00 1,657,301.00 65,088.00
2012-09-30 1,434,255.00 1,506,049.00 34,311.00
2012-06-30 1,455,137.00 1,561,575.00 41,697.00
  • JFE Holdings's level of debt (69.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (91.3% vs 69.8% today).
  • Debt is well covered by operating cash flow (23.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 114.5x coverage).
X
Financial health checks
We assess JFE Holdings'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. JFE Holdings has a total score of 5/6, 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.

Dividends

 What is JFE Holdings'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
4.85%
Current annual income from JFE Holdings dividends. Estimated to be 4.34% next year.
If you bought $2,000 of JFE Holdings shares you are expected to receive $97 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?
  • JFE Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • JFE Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.63%).
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:JFEE.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 11 Analyst Estimates (S&P Global) See Below
United States of America Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
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:JFEE.F Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 90.00 1.00
2023-03-31 98.33 3.00
2022-03-31 85.00 4.00
2021-03-31 83.55 11.00
2020-03-31 82.42 12.00
2019-03-31 94.92 12.00
OTCPK:JFEE.F Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-06 95.000 4.927
2019-02-01 95.000 4.967
2018-11-02 95.000 4.917
2018-10-30 95.000 4.328
2018-07-31 95.000 3.872
2018-06-21 80.000 3.766
2018-04-26 80.000 3.444
2018-02-06 80.000 3.488
2018-02-01 80.000 3.062
2017-11-07 60.000 2.272
2017-11-01 60.000 2.371
2017-06-23 30.000 1.385
2017-04-27 30.000 1.625
2017-01-31 20.000 1.004
2016-11-02 0.000 0.000
2016-10-28 0.000 0.000
2016-06-23 30.000 2.081
2016-04-26 30.000 2.076
2016-01-29 30.000 1.982
2015-06-25 80.000 4.104
2015-04-23 80.000 2.796
2015-02-04 80.000 2.883
2015-01-30 80.000 3.130
2014-10-31 40.000 1.591
2014-10-28 40.000 1.900
2014-06-19 40.000 1.905
2014-04-24 40.000 2.064
2014-02-05 40.000 2.018
2014-01-31 40.000 1.948
2013-10-30 40.000 1.724
2013-10-25 40.000 1.737
2013-04-23 20.000 0.870
2013-01-31 15.000 0.771
2012-10-29 0.000 0.000
2012-10-24 0.000 0.000
2012-06-27 20.000 1.851
2012-04-20 20.000 1.503
2012-02-03 20.000 1.209
2012-01-30 20.000 1.472
2011-11-02 20.000 1.441
2011-10-26 20.000 1.356
2011-01-28 30.000 1.484
2010-11-02 40.000 1.452
2010-10-22 40.000 1.575
2010-07-12 20.000 0.754
2010-06-28 20.000 0.727
2010-04-21 20.000 0.657
2010-01-29 15.000 0.436
2009-11-10 0.000 0.000
2009-10-26 0.000 0.000
2009-06-25 60.000 1.833
2009-04-24 60.000 1.980
2009-04-17 120.000 4.024

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of JFE Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x 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 JFE Holdings'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 JFE Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. JFE Holdings 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.

Management

 What is the CEO of JFE Holdings'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
Eiji Hayashida
COMPENSATION ¥143,537,000
AGE 67
TENURE AS CEO 4 years
CEO Bio

Mr. Eiji Hayashida serves as Chief Executive Officer at JFE Holdings, Inc. since April 1, 2015. He had been the Chief Executive Officer and President of JFE Holdings, Inc. since April 1, 2015 until 2019. Mr. Hayashida serves as Corporate Officer at JFE Holdings, Inc. Mr. Hayashida served as the Chief Executive Officer and President of JFE Steel Corporation at JFE Holdings Inc. since April 2010. Mr. Hayashida served as Senior Vice President and General Manager of Corporate Planning Department of JFE Holdings Inc. He is responsible for Corporate Planning and Comptrollers' Department of JFE Holdings Inc. He served as Vice President, Head of Finance and Investor Relations Division of JFE Holdings Inc., holding company of JFE Steel Corporation. He serves as a Representative Director at JFE Holdings, Inc. Mr. Hayashida served as a Director of JFE Engineering Corporation and JFE Steel Corporation.

CEO Compensation
  • Eiji's compensation has been consistent with company performance over the past year.
  • Eiji's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the JFE Holdings management team in years:

3.8
Average Tenure
  • The tenure for the JFE Holdings management team is about average.
Management Team

Eiji Hayashida

TITLE
CEO, Corporate Officer & Director
COMPENSATION
¥144M
AGE
67
TENURE
4 yrs

Koji Kakigi

TITLE
President & Representative Director
COMPENSATION
¥139M
TENURE
0.3 yrs

Shinichi Okada

TITLE
Executive VP

Tetsuo Ohki

TITLE
VP, Corporate Officer and Head of IR & Finance Department

Masashi Terahata

TITLE
Senior VP & Corporate Officer

Shinjiro Mishima

TITLE
President & CEO of Japan Marine United

Hisanori Kanou

TITLE
President & CEO of JFE Engineering Corporation

Hajime Bada

TITLE
COMPENSATION
¥166M
AGE
70
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the JFE Holdings board of directors in years:

1.8
Average Tenure
67
Average Age
  • The average tenure for the JFE Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Eiji Hayashida

TITLE
CEO, Corporate Officer & Director
COMPENSATION
¥144M
AGE
67

Koji Kakigi

TITLE
President & Representative Director
COMPENSATION
¥139M
TENURE
3.8 yrs

Shinichi Okada

TITLE
Executive VP
TENURE
6.8 yrs

Masao Yoshida

TITLE
External Director
AGE
69
TENURE
3.8 yrs

Naosuke Oda

TITLE
Director
TENURE
1.8 yrs

Hajime Oshita

TITLE
Director
TENURE
1.8 yrs

Masami Yamamoto

TITLE
External Director
AGE
64
TENURE
1.8 yrs

Nobumasa Kemori

TITLE
External Director
AGE
67
TENURE
0.8 yrs

Isao Saiki

TITLE
External Corporate Auditor

Shigeo Oyagi

TITLE
External Corporate Auditor
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 JFE Holdings'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. JFE Holdings 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.

News

Simply Wall St News

Company Info

Description

JFE Holdings, Inc., through its subsidiaries, engages in steel manufacturing, engineering, and trading businesses in Japan and internationally. The company was founded in 2002 and is headquartered in Tokyo, Japan.

Details
Name: JFE Holdings, Inc.
JFEE.F
Exchange: OTCPK
Founded: 2002
¥10,072,579,685
575,862,521
Website: http://www.jfe-holdings.co.jp
Address: JFE Holdings, Inc.
2-2-3 Uchisaiwaicho,
Chiyoda-ku,
Tokyo,
100-0011,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5411 Common Stock The Tokyo Stock Exchange JP JPY 26. Sep 2002
OTCPK JFEE.F Common Stock Pink Sheets LLC US USD 26. Sep 2002
DB JFR Common Stock Deutsche Boerse AG DE EUR 26. Sep 2002
Number of employees
Current staff
Staff numbers
61,234
JFE Holdings employees.
Industry
Steel
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/16 23:56
End of day share price update: 2019/03/25 00:00
Last estimates confirmation: 2019/04/04
Last earnings filing: 2019/02/06
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.