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Bridgestone

DB:BGTA
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BGTA
DB
¥2,228B
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

Bridgestone Corporation, together with its subsidiaries, manufactures and sells tires and rubber products. The last earnings update was 14 days ago. More info.


Add to Portfolio Compare Print
  • Bridgestone has significant price volatility in the past 3 months.
BGTA Share Price and Events
7 Day Returns
-2.4%
DB:BGTA
-3.6%
DE Auto Components
-0.6%
DE Market
1 Year Returns
-
DB:BGTA
-52.5%
DE Auto Components
-20.9%
DE Market
BGTA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bridgestone (BGTA) -2.4% -5.8% -19.1% - - -
DE Auto Components -3.6% -26.6% -44.8% -52.5% -66.5% -71.2%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • No trading data on BGTA.
  • No trading data on BGTA.
Price Volatility
BGTA
Industry
5yr Volatility vs Market

BGTA Value

 Is Bridgestone 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 Bridgestone 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 Bridgestone.

DB:BGTA 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 7.1%
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:BGTA
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 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.077 (1 + (1- 30.86%) (26.81%))
1.185
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.185 * 6.33%)
7.11%

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

The calculations below outline how an intrinsic value for Bridgestone 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:BGTA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.11%)
2020 172,284.80 Analyst x5 160,844.03
2021 175,600.00 Analyst x5 153,052.51
2022 190,841.33 Analyst x3 155,291.03
2023 187,212.00 Analyst x1 142,221.60
2024 209,033.00 Analyst x1 148,253.42
2025 216,207.39 Est @ 3.43% 143,158.91
2026 221,148.87 Est @ 2.29% 136,706.93
2027 224,428.22 Est @ 1.48% 129,521.32
2028 226,495.23 Est @ 0.92% 122,033.99
2029 227,690.46 Est @ 0.53% 114,531.39
Present value of next 10 years cash flows ¥1,405,615.00
DB:BGTA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥227,690.46 × (1 + -0.39%) ÷ (7.11% – -0.39%)
¥3,022,839.13
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥3,022,839.13 ÷ (1 + 7.11%)10
¥1,520,529.17
DB:BGTA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥1,405,615.00 + ¥1,520,529.17
¥2,926,144.17
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥2,926,144.17 / 704.06
¥4156.13
DB:BGTA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BGTA represents 0.0042x of TSE:5108
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0042x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 4,156.13 x 0.0042
€17.46
Value per share (EUR) From above. €17.46
Current discount Discount to share price of €13.30
= -1 x (€13.30 - €17.46) / €17.46
23.8%

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

Current Discount
Amount off the current price Bridgestone is available for.
Intrinsic value
24%
Share price is €13.3 vs Future cash flow value of €17.46
Current Discount Checks
For Bridgestone to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bridgestone's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bridgestone'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 Bridgestone's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bridgestone's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BGTA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥404.95
TSE:5108 Share Price ** TSE (2020-04-06) in JPY ¥3165
Germany Auto Components Industry PE Ratio Median Figure of 9 Publicly-Listed Auto Components Companies 11.43x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

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

** Primary Listing of Bridgestone.

DB:BGTA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:5108 Share Price ÷ EPS (both in JPY)

= 3165 ÷ 404.95

7.82x

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

  • Bridgestone is good value based on earnings compared to the DE Auto Components industry average.
  • Bridgestone is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Bridgestone's expected growth come at a high price?
Raw Data
DB:BGTA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-1.3%per year
Germany Auto Components Industry PEG Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 0.49x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.82x ÷ -1.3%

-6.22x

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

  • Bridgestone earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Bridgestone's assets?
Raw Data
DB:BGTA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥3,255.02
TSE:5108 Share Price * TSE (2020-04-06) in JPY ¥3165
Germany Auto Components Industry PB Ratio Median Figure of 13 Publicly-Listed Auto Components Companies 0.69x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:BGTA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5108 Share Price ÷ Book Value per Share (both in JPY)

= 3165 ÷ 3,255.02

0.97x

* Primary Listing of Bridgestone.

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

  • Bridgestone is overvalued based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess Bridgestone'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. Bridgestone has a total score of 3/6, 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.

BGTA Future Performance

 How is Bridgestone 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
-1.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bridgestone expected to grow at an attractive rate?
  • Bridgestone's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Bridgestone's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Bridgestone's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BGTA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BGTA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -1.3%
DB:BGTA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 1.9%
Germany Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 48.7%
Germany Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:BGTA 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.
DB:BGTA Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 4,074,000 549,033 305,500 1
2023-12-31 3,863,000 517,212 273,400 1
2022-12-31 3,641,333 507,341 263,460 6
2021-12-31 3,585,075 449,900 247,750 11
2020-12-31 3,462,250 499,074 225,140 8
2020-04-07
DB:BGTA Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 3,525,600 464,457 292,598
2019-09-30 3,611,310 277,581
2019-06-30 3,619,365 428,561 275,807
2019-03-31 3,638,547 288,618
2018-12-31 3,650,111 360,955 291,642
2018-09-30 3,654,539 309,968
2018-06-30 3,675,988 384,821 291,054
2018-03-31 3,651,389 292,439
2017-12-31 3,643,427 418,109 288,275
2017-09-30 3,555,295 280,264
2017-06-30 3,433,297 396,541 274,036
2017-03-31 3,363,111 268,047

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bridgestone's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Bridgestone's revenue is expected to grow by 1.9% 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:BGTA 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 Bridgestone Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BGTA Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 485.70 485.70 485.70 1.00
2023-12-31 422.00 422.00 422.00 1.00
2022-12-31 374.96 398.60 350.77 6.00
2021-12-31 352.66 377.80 323.18 12.00
2020-12-31 320.76 356.10 265.02 11.00
2020-04-07
DB:BGTA Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 404.95
2019-09-30 378.16
2019-06-30 370.66
2019-03-31 384.79
2018-12-31 387.95
2018-09-30 411.89
2018-06-30 385.46
2018-03-31 384.84
2017-12-31 375.67
2017-09-30 361.89
2017-06-30 351.43
2017-03-31 342.41

*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.
  • Bridgestone is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bridgestone'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.
Bridgestone 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.

BGTA Past Performance

  How has Bridgestone 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 Bridgestone'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.
  • Bridgestone's year on year earnings growth rate has been positive over the past 5 years.
  • Bridgestone's 1-year earnings growth exceeds its 5-year average (0.3% vs 0.2%)
  • Bridgestone's earnings growth has exceeded the DE Auto Components industry average in the past year (0.3% vs -29.1%).
Earnings and Revenue History
Bridgestone'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 Bridgestone Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BGTA 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 3,525,600.00 292,598.00 850,006.00 105,283.00
2019-09-30 3,611,310.00 277,581.00 852,662.00 106,144.00
2019-06-30 3,619,365.00 275,807.00 849,317.00 105,506.00
2019-03-31 3,638,547.00 288,618.00 846,700.00 103,579.00
2018-12-31 3,650,111.00 291,642.00 839,573.00 103,551.00
2018-09-30 3,654,539.00 309,968.00 840,481.00 101,774.00
2018-06-30 3,675,988.00 291,054.00 840,940.00 100,110.00
2018-03-31 3,651,389.00 292,439.00 833,432.00 100,702.00
2017-12-31 3,643,427.00 288,275.00 828,372.00 99,791.00
2017-09-30 3,555,295.00 280,264.00 817,439.00 97,341.00
2017-06-30 3,433,297.00 274,036.00 797,658.00 96,365.00
2017-03-31 3,363,111.00 268,047.00 786,600.00 94,551.00
2016-12-31 3,337,017.00 265,550.00 788,215.00 95,403.00
2016-09-30 3,417,723.00 272,231.00 799,736.00 96,056.00
2016-06-30 3,581,324.00 262,997.00 824,168.00 96,563.00
2016-03-31 3,722,394.00 269,442.00 845,717.00 95,988.00
2015-12-31 3,790,251.00 284,294.00 851,941.00 94,977.00
2015-09-30 3,826,188.00 270,039.00 849,574.00 96,960.00
2015-06-30 3,779,199.00 302,996.00 828,026.00 96,159.00
2015-03-31 3,703,989.00 300,217.00 803,981.00 95,759.00
2014-12-31 3,673,964.00 300,589.00 782,775.00 94,147.00
2014-09-30 3,627,141.00 231,865.00 774,432.00 91,005.00
2014-06-30 3,613,160.00 227,255.00 768,513.00 90,179.00
2014-03-31 3,637,139.00 230,908.00 761,280.00 89,589.00
2013-12-31 3,568,091.00 202,053.00 744,967.00 89,097.00
2013-09-30 3,419,473.00 251,592.00 705,167.00 86,241.00
2013-06-30 3,255,958.00 213,380.00 673,880.00 85,126.00

*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.
  • Bridgestone has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bridgestone used its assets more efficiently than the DE Auto Components industry average last year based on Return on Assets.
  • Bridgestone's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bridgestone'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.
Bridgestone has a total score of 4/6, 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.

BGTA Health

 How is Bridgestone'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 Bridgestone's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bridgestone is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bridgestone's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bridgestone'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 3.6x 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 Bridgestone Company Filings, last reported 3 months ago.

DB:BGTA Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,344,290.00 519,690.00 577,299.00
2019-09-30 2,247,702.00 565,931.00 445,845.00
2019-06-30 2,311,253.00 604,031.00 579,231.00
2019-03-31 2,374,495.00 409,353.00 507,501.00
2018-12-31 2,436,162.00 379,623.00 594,231.00
2018-09-30 2,468,742.00 410,045.00 555,057.00
2018-06-30 2,382,481.00 390,707.00 580,887.00
2018-03-31 2,317,007.00 424,387.00 551,459.00
2017-12-31 2,402,738.00 416,334.00 733,575.00
2017-09-30 2,347,897.00 447,060.00 616,949.00
2017-06-30 2,341,634.00 461,752.00 645,010.00
2017-03-31 2,296,222.00 275,115.00 499,135.00
2016-12-31 2,345,455.00 335,136.00 650,703.00
2016-09-30 2,081,867.00 331,882.00 506,037.00
2016-06-30 2,088,903.00 348,704.00 537,118.00
2016-03-31 2,171,331.00 418,405.00 547,199.00
2015-12-31 2,282,010.00 434,183.00 605,000.00
2015-09-30 2,158,140.00 487,491.00 500,250.00
2015-06-30 2,240,390.00 516,722.00 542,525.00
2015-03-31 2,129,490.00 524,256.00 467,983.00
2014-12-31 2,146,655.00 579,426.00 539,683.00
2014-09-30 2,026,591.00 578,442.00 430,240.00
2014-06-30 1,915,198.00 514,557.00 383,752.00
2014-03-31 1,863,287.00 542,865.00 399,873.00
2013-12-31 1,862,962.00 551,838.00 438,719.00
2013-09-30 1,729,390.00 559,380.00 333,991.00
2013-06-30 1,652,243.00 562,067.00 321,016.00
  • Bridgestone's level of debt (22.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (27% vs 22.2% today).
  • Debt is well covered by operating cash flow (89.4%, greater than 20% of total debt).
  • Bridgestone earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Bridgestone'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. Bridgestone 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.

BGTA Dividends

 What is Bridgestone'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
5.06%
Current annual income from Bridgestone dividends. Estimated to be 5.09% next year.
If you bought €2,000 of Bridgestone shares you are expected to receive €101 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?
  • Bridgestone's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.69%).
  • Bridgestone's dividend is above the markets top 25% of dividend payers in Germany (4.85%).
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:BGTA 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
Germany Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:BGTA Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 180.00 1.00
2023-12-31 170.00 1.00
2022-12-31 160.67 6.00
2021-12-31 160.00 12.00
2020-12-31 160.00 12.00
2020-04-07
DB:BGTA Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2020-02-17 160.000 4.713
2019-11-08 160.000 3.845
2019-08-09 160.000 3.797
2019-03-22 160.000 3.786
2019-02-15 160.000 3.671
2018-11-08 160.000 3.704
2018-08-09 160.000 3.813
2018-03-23 160.000 3.617
2018-02-16 160.000 3.416
2017-11-10 140.000 2.708
2017-11-09 140.000 2.692
2017-08-10 140.000 2.769
2017-08-09 140.000 2.942
2017-03-24 140.000 2.974
2017-02-17 140.000 3.076
2016-11-10 140.000 3.323
2016-11-09 140.000 3.650
2016-08-09 140.000 3.815
2016-05-11 140.000 3.969
2016-03-24 140.000 3.433
2016-02-17 140.000 3.444
2015-11-11 120.000 2.864
2015-11-09 120.000 2.634
2015-08-07 120.000 2.827
2015-03-24 120.000 2.507
2015-02-17 120.000 2.547
2014-11-12 80.000 1.872
2014-11-10 80.000 2.108
2014-08-08 80.000 2.229
2014-03-25 80.000 2.196
2014-02-18 80.000 2.190
2013-11-08 54.000 1.438
2013-11-07 54.000 1.590
2013-08-09 54.000 1.579
2013-05-08 54.000 1.555
2013-03-26 54.000 1.548
2013-02-18 54.000 1.799
2012-11-09 32.000 1.481
2012-11-07 32.000 1.742
2012-08-10 32.000 1.738
2012-08-07 32.000 1.715
2012-05-09 32.000 1.831
2012-03-27 32.000 1.680
2012-02-16 32.000 1.630
2011-11-11 20.000 1.154
2011-11-08 20.000 1.119
2011-08-11 20.000 1.163
2011-05-13 20.000 1.082
2011-02-18 20.000 1.158
2010-11-12 20.000 1.255
2010-11-05 20.000 1.353
2010-08-06 20.000 1.333
2010-03-30 16.000 1.054
2010-02-19 16.000 1.037
2009-11-13 16.000 1.069
2009-11-05 16.000 1.119
2009-08-12 16.000 0.983
2009-08-07 16.000 0.918
2009-05-08 16.000 1.073

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 Bridgestone's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x 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 Bridgestone's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Bridgestone afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bridgestone has a total score of 5/6, see the detailed checks below.


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

BGTA Management

 What is the CEO of Bridgestone'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
Shuichi Ishibashi
AGE 65
TENURE AS CEO 0.1 years
CEO Bio

Mr. Shuichi Ishibashi serves as Director and Chief Executive officer at Bridgestone Corporation since March 2020 and also serves as it's Representative Executive Officer since January 1, 2019. Mr. Ishibashi served as Vice Chair and Global Chief Solution Officer at Bridgestone Corporation from January 1, 2019 until March 2020. He served as Group Global Chief Quality Management Officer and Executive Vice President of Bridgestone Corporation and has been its Executive Officer from March 29, 2016 until January 01, 2019. Mr. Ishibashi served as Vice President and Officer of Bridgestone Corporation. Mr. Ishibashi was responsible for the replacement Tire Sales Planning and Administration Commercial Tires Solutions Business. He served as Vice President of Consumer Tire Business at Bridgestone Corporation.

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

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

1.8
Average Tenure
58
Average Age
  • The average tenure for the Bridgestone management team is less than 2 years, this suggests a new team.
Management Team

Gordon Knapp

TITLE
Vice Chair & Executive Officer
COMPENSATION
¥615M
TENURE
2.3 yrs

Paolo Ferrari

TITLE
Executive VP
COMPENSATION
¥377M
AGE
49
TENURE
2.3 yrs

Shuichi Ishibashi

TITLE
CEO, Representative Executive Officer & Director
AGE
65
TENURE
0.1 yrs

Masahiro Higashi

TITLE
Vice Chair & Representative Executive Officer
AGE
58
TENURE
3.1 yrs

Akihiro Eto

TITLE
President
AGE
58
TENURE
1.3 yrs

Naoki Hishinuma

TITLE
CFO, Director of Finance Division & Treasurer
TENURE
1.3 yrs

Hidekazu Kimizu

TITLE
Chief Compliance Officer of Legal Affairs and Intellectual Property
TENURE
2.3 yrs

Motoi Mochizuki

TITLE
Chief Marketing Officer

Masayuki Ishii

TITLE
Chief Risk Officer

Chris Karbowiak

TITLE
Executive VP & Executive Officer
TENURE
1.3 yrs
Board of Directors Tenure

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

2.7
Average Tenure
62
Average Age
  • The average tenure for the Bridgestone board of directors is less than 3 years, this suggests a new board.
Board of Directors

Masaaki Tsuya

TITLE
Chairman of the Board
COMPENSATION
¥174M
AGE
66

Shuichi Ishibashi

TITLE
CEO, Representative Executive Officer & Director
AGE
65
TENURE
1.3 yrs

Masahiro Higashi

TITLE
Vice Chair & Representative Executive Officer
AGE
58
TENURE
0.3 yrs

Akihiro Eto

TITLE
President
AGE
58
TENURE
1.1 yrs

Yuri Okina

TITLE
Outside Director
AGE
59

Hank Hara

TITLE
Director
AGE
68
TENURE
0.1 yrs

Kenichi Masuda

TITLE
Outside Director
TENURE
4.1 yrs

Scott Davis

TITLE
Outside Director
AGE
59
TENURE
9.1 yrs

Kenzo Yamamoto

TITLE
Outside Director
TENURE
4.1 yrs

Keikou Terui

TITLE
Outside Director
AGE
66
TENURE
4.1 yrs
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 Bridgestone'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. Bridgestone 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.

BGTA News

Simply Wall St News

BGTA Company Info

Description

Bridgestone Corporation, together with its subsidiaries, manufactures and sells tires and rubber products. It operates through two segments, Tires and Diversified Products. The company offers tires and tire tubes for passenger cars, trucks, buses, motorcycles, construction and mining vehicles, industrial machinery, agricultural machinery, aircraft, motorcycles, etc.; retreading materials and services; automotive maintenance and repair services; tire raw materials and wheels; and other tire-related products. It also provides vehicle parts, polyurethane foam and related products, electronic precision parts, industrial materials-related products, civil engineering and construction materials and equipment, and others; commercial roofing materials and other materials; golf balls, golf clubs, and other sporting goods; bicycles, bicycle-related goods, and others, as well as finance and other services. In addition, the company offers maintenance, IT/sensing technology, and other solutions for the mining, fleets, and agricultural sector. It has operations in Japan, the United States, China, the Asia Pacific, Europe, Russia, the Middle East, Africa, and internationally. Bridgestone Corporation was founded in 1931 and is headquartered in Tokyo, Japan.

Details
Name: Bridgestone Corporation
BGTA
Exchange: DB
Founded: 1931
¥19,034,414,428
704,055,167
Website: http://www.bridgestone.co.jp
Address: Bridgestone Corporation
3-1-1 Kyobashi,
Chuo-ku,
Tokyo,
104-8340,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5108 Common Stock The Tokyo Stock Exchange JP JPY 15. Jun 1976
OTCPK BRDC.F Common Stock Pink Sheets LLC US USD 15. Jun 1976
DB BGT Common Stock Deutsche Boerse AG DE EUR 15. Jun 1976
OTCPK BRDC.Y ADR EACH CNV 0.5 ORD NPV Pink Sheets LLC US USD 15. Jun 1976
DB BGTA ADR EACH CNV 0.5 ORD NPV Deutsche Boerse AG DE EUR 15. Jun 1976
Number of employees
Current staff
Staff numbers
143,589
Bridgestone employees.
Industry
Tires and Rubber
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 01:26
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/05
Last earnings filing: 2020/03/24
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.