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JTEKT

DB:6JK
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6JK
DB
¥242B
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

JTEKT Corporation manufactures and sells steering systems, driveline components, bearings, machine tools, electronic control devices, home accessory equipment, etc. The last earnings update was 54 days ago. More info.


Add to Portfolio Compare Print
  • JTEKT has significant price volatility in the past 3 months.
6JK Share Price and Events
7 Day Returns
-3.3%
DB:6JK
3.7%
DE Auto Components
2.1%
DE Market
1 Year Returns
-48.6%
DB:6JK
-47.8%
DE Auto Components
-16.6%
DE Market
6JK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
JTEKT (6JK) -3.3% -25.5% -45.3% -48.6% -59.1% -59.2%
DE Auto Components 3.7% -20.4% -41.1% -47.8% -63.5% -67.9%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • 6JK matched the Auto Components industry (-47.8%) over the past year.
  • 6JK underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
6JK
Industry
5yr Volatility vs Market

Value

 Is JTEKT 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 JTEKT 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 JTEKT.

DB:6JK 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 10.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:6JK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.14 (1 + (1- 30.86%) (126.68%))
1.762
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.76
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.762 * 6.33%)
10.77%

Discounted Cash Flow Calculation for DB:6JK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for JTEKT 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:6JK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 10.77%)
2020 15,600.00 Analyst x2 14,083.83
2021 18,850.00 Analyst x2 15,363.97
2022 16,950.00 Analyst x2 12,472.63
2023 17,220.68 Est @ 1.6% 11,440.23
2024 17,393.04 Est @ 1% 10,431.72
2025 17,494.55 Est @ 0.58% 9,472.82
2026 17,545.55 Est @ 0.29% 8,577.08
2027 17,560.82 Est @ 0.09% 7,750.21
2028 17,550.98 Est @ -0.06% 6,993.04
2029 17,523.56 Est @ -0.16% 6,303.52
Present value of next 10 years cash flows ¥102,889.00
DB:6JK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥17,523.56 × (1 + -0.39%) ÷ (10.77% – -0.39%)
¥156,473.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥156,473.93 ÷ (1 + 10.77%)10
¥56,286.30
DB:6JK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥102,889.00 + ¥56,286.30
¥159,175.30
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥159,175.30 / 342.97
¥464.11
DB:6JK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:6JK represents 0.0083x of TSE:6473
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0083x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 464.11 x 0.0083
€3.85
Value per share (EUR) From above. €3.85
Current discount Discount to share price of €5.85
= -1 x (€5.85 - €3.85) / €3.85
-51.9%

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

  • The current share price of JTEKT 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 JTEKT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are JTEKT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:6JK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥17.24
TSE:6473 Share Price ** TSE (2020-04-07) in JPY ¥705
Germany Auto Components Industry PE Ratio Median Figure of 9 Publicly-Listed Auto Components Companies 12.05x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of JTEKT.

DB:6JK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:6473 Share Price ÷ EPS (both in JPY)

= 705 ÷ 17.24

40.89x

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

  • JTEKT is overvalued based on earnings compared to the DE Auto Components industry average.
  • JTEKT is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does JTEKT's expected growth come at a high price?
Raw Data
DB:6JK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 40.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
29.9%per year
Germany Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.53x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:6JK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 40.89x ÷ 29.9%

1.37x

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

  • JTEKT is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on JTEKT's assets?
Raw Data
DB:6JK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥1,549.40
TSE:6473 Share Price * TSE (2020-04-07) in JPY ¥705
Germany Auto Components Industry PB Ratio Median Figure of 13 Publicly-Listed Auto Components Companies 0.7x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:6JK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6473 Share Price ÷ Book Value per Share (both in JPY)

= 705 ÷ 1,549.40

0.46x

* Primary Listing of JTEKT.

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

  • JTEKT is good value based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess JTEKT'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 Auto Components 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 Auto Components industry average (and greater than 0)? (1 check)
  5. JTEKT 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.

Future Performance

 How is JTEKT 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
29.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is JTEKT expected to grow at an attractive rate?
  • JTEKT's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • JTEKT's earnings growth is expected to exceed the Germany market average.
  • JTEKT's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:6JK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:6JK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 29.9%
DB:6JK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 1.7%
Germany Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 49.7%
Germany Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:6JK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months 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.
DB:6JK Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 1,525,400 45,600 1
2023-03-31 1,493,800 40,500 1
2022-03-31 1,497,067 100,156 33,250 6
2021-03-31 1,425,850 94,292 26,920 6
2020-04-07
2020-03-31 1,432,150 91,888 15,883 6
DB:6JK Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 1,466,219 5,914
2019-09-30 1,499,932 76,011 10,348
2019-06-30 1,506,737 18,250
2019-03-31 1,520,893 103,022 24,663
2018-12-31 1,517,988 36,130
2018-09-30 1,501,835 100,307 40,049
2018-06-30 1,481,845 46,075
2018-03-31 1,441,170 100,033 49,697
2017-12-31 1,403,060 64,339
2017-09-30 1,360,248 104,408 63,575
2017-06-30 1,332,642 51,245
2017-03-31 1,318,310 99,277 47,522

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • JTEKT's earnings are expected to grow significantly at over 20% yearly.
  • JTEKT's revenue is expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:6JK 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 6 Analyst Estimates (S&P Global) See Below

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

DB:6JK Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 96.98 159.80 57.73 6.00
2021-03-31 78.41 100.60 64.15 5.00
2020-04-07
2020-03-31 46.35 68.50 35.00 6.00
DB:6JK Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 17.24
2019-09-30 30.17
2019-06-30 53.21
2019-03-31 71.91
2018-12-31 105.34
2018-09-30 116.77
2018-06-30 134.34
2018-03-31 144.90
2017-12-31 187.59
2017-09-30 185.36
2017-06-30 149.41
2017-03-31 138.56

*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.
  • JTEKT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess JTEKT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
JTEKT has a total score of 3/6, 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 JTEKT 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 JTEKT's growth in the last year to its industry (Auto Components).
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.
  • JTEKT's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • JTEKT's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • JTEKT's 1-year earnings growth is negative, it can't be compared to the DE Auto Components industry average.
Earnings and Revenue History
JTEKT'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 JTEKT Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:6JK Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,466,219.00 5,914.00 144,186.00 27,131.00
2019-09-30 1,499,932.00 10,348.00 145,492.00 27,131.00
2019-06-30 1,506,737.00 18,250.00 147,905.00 27,131.00
2019-03-31 1,520,893.00 24,663.00 148,258.00 27,131.00
2018-12-31 1,517,988.00 36,130.00 152,729.00 23,363.00
2018-09-30 1,501,835.00 40,049.00 149,180.00 23,363.00
2018-06-30 1,481,845.00 46,075.00 142,616.00 23,363.00
2018-03-31 1,441,170.00 49,697.00 136,390.00 23,363.00
2017-12-31 1,403,060.00 64,339.00 129,209.00 19,987.00
2017-09-30 1,360,248.00 63,575.00 125,503.00 19,987.00
2017-06-30 1,332,642.00 51,245.00 120,417.00 19,987.00
2017-03-31 1,318,310.00 47,522.00 116,321.00 19,987.00
2016-12-31 1,316,130.00 32,055.00 117,721.00 19,218.00
2016-09-30 1,338,485.00 32,900.00 116,669.00 19,218.00
2016-06-30 1,374,855.00 44,809.00 117,420.00 19,218.00
2016-03-31 1,399,987.00 48,672.00 117,975.00 19,218.00
2015-12-31 1,411,732.00 48,621.00 120,712.00 14,528.00
2015-09-30 1,402,540.00 48,666.00 119,171.00 14,528.00
2015-06-30 1,380,682.00 46,148.00 115,881.00 14,528.00
2015-03-31 1,355,992.00 42,520.00 112,251.00 14,528.00
2014-12-31 1,326,259.00 44,859.00 107,300.00 15,813.00
2014-09-30 1,303,006.00 42,204.00 104,955.00 15,813.00
2014-06-30 1,280,591.00 28,201.00 105,045.00 15,813.00
2014-03-31 1,260,192.00 23,384.00 104,411.00 15,813.00
2013-12-31 1,215,615.00 20,765.00 100,036.00 13,587.00
2013-09-30 1,153,764.00 12,407.00 97,054.00 13,587.00
2013-06-30 1,101,938.00 19,208.00 92,378.00 13,587.00

*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.
  • JTEKT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • JTEKT used its assets less efficiently than the DE Auto Components industry average last year based on Return on Assets.
  • JTEKT's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess JTEKT'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 Auto Components 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.
JTEKT 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.

Health

 How is JTEKT'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 JTEKT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • JTEKT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • JTEKT's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of JTEKT'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 2x 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 JTEKT Company Filings, last reported 3 months ago.

DB:6JK Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 564,918.00 306,307.00 141,085.00
2019-09-30 554,100.00 279,822.00 116,111.00
2019-06-30 560,680.00 262,843.00 125,897.00
2019-03-31 571,079.00 273,560.00 135,556.00
2018-12-31 568,335.00 303,000.00 140,973.00
2018-09-30 591,057.00 284,309.00 146,957.00
2018-06-30 575,686.00 280,804.00 143,209.00
2018-03-31 572,590.00 274,684.00 135,108.00
2017-12-31 580,635.00 277,557.00 126,077.00
2017-09-30 553,952.00 234,082.00 108,713.00
2017-06-30 530,593.00 222,270.00 90,935.00
2017-03-31 512,904.00 186,820.00 72,401.00
2016-12-31 494,939.00 216,805.00 100,396.00
2016-09-30 448,881.00 196,175.00 75,670.00
2016-06-30 449,023.00 189,001.00 74,117.00
2016-03-31 480,065.00 190,179.00 65,071.00
2015-12-31 507,444.00 200,579.00 72,822.00
2015-09-30 500,409.00 232,820.00 74,337.00
2015-06-30 513,094.00 234,203.00 75,544.00
2015-03-31 499,772.00 226,598.00 67,977.00
2014-12-31 481,571.00 252,435.00 86,733.00
2014-09-30 447,224.00 254,310.00 69,617.00
2014-06-30 419,199.00 248,115.00 74,653.00
2014-03-31 418,863.00 245,743.00 64,898.00
2013-12-31 420,895.00 306,307.00 124,655.00
2013-09-30 397,313.00 296,278.00 94,023.00
2013-06-30 400,348.00 271,132.00 98,377.00
  • JTEKT's level of debt (54.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (51.8% vs 54.1% today).
  • Debt is well covered by operating cash flow (24.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 721.9x coverage).
X
Financial health checks
We assess JTEKT'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. JTEKT has a total score of 4/6, 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 JTEKT'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
6.24%
Current annual income from JTEKT dividends. Estimated to be 5.49% next year.
If you bought €2,000 of JTEKT shares you are expected to receive €125 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?
  • JTEKT's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • JTEKT's dividend is above the markets top 25% of dividend payers in Germany (4.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:6JK 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
Germany Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:6JK Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31 44.00 1.00
2022-03-31 38.20 5.00
2021-03-31 38.20 5.00
2020-04-07
2020-03-31 44.00 6.00
DB:6JK Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-13 44.000 4.056
2019-10-31 44.000 3.086
2019-06-26 44.000 3.531
2019-04-26 44.000 3.586
2019-02-13 44.000 3.137
2019-02-01 44.000 3.242
2018-11-13 44.000 3.294
2018-10-31 44.000 3.212
2018-07-31 44.000 2.854
2018-06-27 44.000 2.897
2018-04-27 44.000 2.674
2018-02-13 42.000 2.609
2018-02-02 42.000 2.353
2017-11-13 42.000 2.141
2017-10-31 42.000 2.118
2017-06-28 42.000 2.664
2017-04-28 42.000 2.484
2017-02-13 42.000 2.308
2017-02-02 42.000 2.321
2016-11-11 42.000 2.240
2016-10-28 42.000 2.692
2016-06-28 42.000 2.951
2016-04-28 42.000 3.102
2016-02-12 42.000 2.806
2016-02-03 42.000 2.705
2015-11-12 42.000 2.098
2015-10-30 42.000 1.921
2015-06-25 34.000 1.754
2015-04-28 34.000 1.532
2015-02-03 28.000 1.517
2014-07-31 20.000 1.107
2014-06-26 20.000 1.141
2014-04-25 20.000 1.265
2013-06-26 16.000 1.123
2013-04-26 16.000 1.479
2012-10-31 14.000 1.734
2012-07-31 18.000 2.779
2012-06-27 18.000 2.469
2012-04-27 18.000 2.282
2012-02-03 16.000 1.751
2011-10-31 16.000 2.103
2011-08-01 16.000 1.742
2011-06-28 18.000 1.520
2011-04-28 18.000 1.665
2011-02-03 14.000 1.306
2010-11-02 14.000 1.424
2010-08-06 13.000 1.687
2010-08-03 13.000 1.617
2010-07-15 13.000 1.558
2010-06-29 13.000 1.547
2010-05-07 13.000 1.364
2010-02-12 10.000 0.971
2010-02-04 10.000 1.020
2009-11-13 10.000 0.944
2009-11-04 10.000 1.039
2009-06-26 17.000 1.635
2009-05-07 17.000 1.949

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 increased over the past 10 years.
Current Payout to shareholders
What portion of JTEKT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.4x 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 JTEKT'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 JTEKT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. JTEKT 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 JTEKT'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
Tetsuo Agata
AGE 67
CEO Bio

Mr. Tetsuo Agata serves as the President of JTEKT Corporation. Mr. Agata served as an Executive Vice President of Toyota Industries Corporation. He served as Head of Corporate Development at Toyota Industries Corporation. He served as Senior Managing Director and President of Tema, at Toyota Motor Corp. Mr. Agata served as President and Chief Operating Officer of Toyota Motor Engineering & Manufacturing North America Inc. at Toyota Motor Corp. He served as President of North American engineering and manufacturing division at Toyota Motor Manufacturing, Texas, Inc. He served as Managing officer of Toyota Motor Corp. from 25, 2007 to June 2008. He served as Executive Vice President of R&D / Manufacturing Company at Toyota Motor Europe. He serves as a Representative Director of JTEKT Corporation. He served as a Director of Kirloskar Toyoda Textile Machinery Pvt. Ltd. until May 13, 2016. He served as a Representative Director of Toyota Industries Corporation. Mr. Agata served as Director of Toyota Motor Corp., Toyota Motor Engineering & Manufacturing North America, Inc. and Toyota Caetano Portugal, S.A.

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

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

3
Average Tenure
62.5
Average Age
  • The tenure for the JTEKT management team is about average.
Management Team

Tetsuo Agata

TITLE
President & Representative Director
AGE
67

Kanji Nagata

TITLE
Managing Officer
TENURE
1.3 yrs

Hiroyuki Kaijima

TITLE
Executive VP
AGE
63

Kazunori Shimada

TITLE
Executive Managing Officer

Katsumi Yamamoto

TITLE
Senior Executive Director & Director
AGE
60

Kazuhisa Makino

TITLE
Executive Director
AGE
62

Hiroshi Ii

TITLE
Executive Managing Officer & CEO of Europe
TENURE
4 yrs

Kunihiko Yokota

TITLE
Executive Managing Officer
TENURE
3 yrs

Haruhiko Segawa

TITLE
Executive Managing Officer
TENURE
3 yrs

Makoto Sano

TITLE
Executive Managing Officer
Board of Directors Tenure

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

1.7
Average Tenure
63
Average Age
  • The average tenure for the JTEKT board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tetsuo Agata

TITLE
President & Representative Director
AGE
67

Hiroyuki Kaijima

TITLE
Executive VP
AGE
63

Kazuhisa Makino

TITLE
Executive Director
AGE
62
TENURE
1.3 yrs

Hirofumi Matsuoka

TITLE
Executive Director
AGE
57
TENURE
2.3 yrs

Takumi Matsumoto

TITLE
MD, GM of Drive Business Division & Executive Director
AGE
58
TENURE
3.8 yrs

Takeshi Uchiyamada

TITLE
Director
AGE
73
TENURE
1.7 yrs

Takao Miyatani

TITLE
Independent Outside Director
AGE
79

Iwao Okamoto

TITLE
Independent Outside Director
AGE
73

Atsushi Kume

TITLE
Member of the Audit & Supervisory Board
TENURE
1.7 yrs

Hiroshi Takenaka

TITLE
Member of the Audit & Supervisory Board
AGE
61
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess JTEKT'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. JTEKT 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

JTEKT Corporation manufactures and sells steering systems, driveline components, bearings, machine tools, electronic control devices, home accessory equipment, etc. The company offers steering systems, such as electric power steering, hydraulic power steering, and unit components; driveline components, including driveshaft, propeller shaft, coupling, and Torsen limited slip differential products; and wheels, such as hub units. It also provides sensor systems comprising peripherals for social infrastructures; products for research and development field, including semiconductor transducers, load cells, DC amplifiers, and pressure transducer for welding guns and indicators; and medical equipment, such as pressure sensors for dialyzers. In addition, the company offers bearings, oil seals, and Torsen and oil pumps. Further, it provides machine tools, such as grinders, machining centers, and others; and mechatronic products. JTEKT Corporation offers its products for use in various industries, including automotive components, steel production, railways, aviation/aerospace, construction equipment, agricultural machinery, and wind power generation, as well as for office/home/leisure use under the JTEKT, KOYO, and TOYODA brands. The company operates in Japan, Asia, North America, South America, Europe, and China. JTEKT Corporation was founded in 1921 and is headquartered in Osaka, Japan.

Details
Name: JTEKT Corporation
6JK
Exchange: DB
Founded: 1921
¥2,037,937,703
342,969,781
Website: http://www.jtekt.co.jp
Address: JTEKT Corporation
No. 5-8, Minamisemba 3-chome,
Chuo-ku,
Osaka,
542-8502,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6473 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK JTEK.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB 6JK Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK JTEK.Y ADR Pink Sheets LLC US USD 13. Oct 2008
Number of employees
Current staff
Staff numbers
49,693
JTEKT employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 23:14
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


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.