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Yokohama Rubber Company

DB:YRB
Snowflake Description

Excellent balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
YRB
DB
¥205B
Market Cap
  1. Home
  2. DE
  3. Automobiles
Company description

The Yokohama Rubber Company, Limited manufactures and sells tires, industrial products, and golf products in Japan, the United States, India, China, the Philippines, and internationally. The last earnings update was 11 days ago. More info.


Add to Portfolio Compare Print
  • Yokohama Rubber Company has significant price volatility in the past 3 months.
YRB Share Price and Events
7 Day Returns
-7.8%
DB:YRB
3.7%
DE Auto Components
2.1%
DE Market
1 Year Returns
-37%
DB:YRB
-47.8%
DE Auto Components
-16.6%
DE Market
YRB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yokohama Rubber Company (YRB) -7.8% -23.2% -36.9% -37% -40.3% -47.3%
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
  • YRB outperformed the Auto Components industry which returned -47.8% over the past year.
  • YRB underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

YRB Value

 Is Yokohama Rubber Company 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 Yokohama Rubber Company 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 Yokohama Rubber Company.

DB:YRB 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 10.4%
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:YRB
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%) (116.8%))
1.71
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.71
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.71 * 6.33%)
10.43%

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

The calculations below outline how an intrinsic value for Yokohama Rubber Company 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:YRB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 10.43%)
2020 38,382.00 Analyst x3 34,755.29
2021 29,397.33 Analyst x3 24,104.30
2022 32,388.67 Analyst x3 24,047.67
2023 31,707.00 Analyst x1 21,317.11
2024 33,739.00 Analyst x1 20,539.92
2025 34,615.90 Est @ 2.6% 19,082.50
2026 35,205.18 Est @ 1.7% 17,573.56
2027 35,583.51 Est @ 1.07% 16,084.04
2028 35,809.56 Est @ 0.64% 14,656.78
2029 35,926.90 Est @ 0.33% 13,315.35
Present value of next 10 years cash flows ¥205,476.00
DB:YRB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥35,926.90 × (1 + -0.39%) ÷ (10.43% – -0.39%)
¥330,594.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥330,594.02 ÷ (1 + 10.43%)10
¥122,525.90
DB:YRB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥205,476.00 + ¥122,525.90
¥328,001.90
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥328,001.90 / 160.45
¥2044.27
DB:YRB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:YRB represents 0.00828x of TSE:5101
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00828x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,044.27 x 0.00828
€16.93
Value per share (EUR) From above. €16.93
Current discount Discount to share price of €10.60
= -1 x (€10.60 - €16.93) / €16.93
37.4%

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

Current Discount
Amount off the current price Yokohama Rubber Company is available for.
Intrinsic value
37%
Share price is €10.6 vs Future cash flow value of €16.93
Current Discount Checks
For Yokohama Rubber Company to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Yokohama Rubber Company's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Yokohama Rubber Company'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 Yokohama Rubber Company's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yokohama Rubber Company's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:YRB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥261.62
TSE:5101 Share Price ** TSE (2020-04-07) in JPY ¥1280
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 Yokohama Rubber Company.

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

= TSE:5101 Share Price ÷ EPS (both in JPY)

= 1280 ÷ 261.62

4.89x

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

  • Yokohama Rubber Company is good value based on earnings compared to the DE Auto Components industry average.
  • Yokohama Rubber Company is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Yokohama Rubber Company's expected growth come at a high price?
Raw Data
DB:YRB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
-1.1%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:YRB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.89x ÷ -1.1%

-4.4x

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

  • Yokohama Rubber Company 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 Yokohama Rubber Company's assets?
Raw Data
DB:YRB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥2,610.75
TSE:5101 Share Price * TSE (2020-04-07) in JPY ¥1280
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:YRB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5101 Share Price ÷ Book Value per Share (both in JPY)

= 1280 ÷ 2,610.75

0.49x

* Primary Listing of Yokohama Rubber Company.

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

  • Yokohama Rubber Company is good value based on assets compared to the DE Auto Components industry average.
X
Value checks
We assess Yokohama Rubber Company'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. Yokohama Rubber Company 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.

YRB Future Performance

 How is Yokohama Rubber Company 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
-1.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yokohama Rubber Company expected to grow at an attractive rate?
  • Yokohama Rubber Company'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
  • Yokohama Rubber Company's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Yokohama Rubber Company's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:YRB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:YRB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts -1.1%
DB:YRB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.3%
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:YRB 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:YRB Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 738,300 73,739 41,900 1
2023-12-31 709,200 71,707 39,000 1
2022-12-31 680,775 75,389 34,775 4
2021-12-31 661,150 71,731 36,917 6
2020-12-31 639,983 78,382 32,360 6
2020-04-07
DB:YRB Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 650,462 75,374 41,971
2019-09-30 655,143 72,837 47,669
2019-06-30 651,668 81,821 34,512
2019-03-31 650,605 76,509 35,415
2018-12-31 650,239 82,821 35,623
2018-09-30 640,317 39,553
2018-06-30 645,112 70,846 46,385
2018-03-31 669,467 38,890
2017-12-31 646,272 60,466 39,975
2017-09-30 652,765 26,977
2017-06-30 638,913 59,997 21,974
2017-03-31 614,588 20,828

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yokohama Rubber Company's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Yokohama Rubber Company's revenue is expected to grow by 2.3% 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
DB:YRB 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 Yokohama Rubber Company Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:YRB Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 261.20 261.20 261.20 1.00
2023-12-31 243.10 243.10 243.10 1.00
2022-12-31 216.72 241.80 171.39 4.00
2021-12-31 229.28 268.00 208.17 7.00
2020-12-31 205.28 236.83 168.30 6.00
2020-04-07
DB:YRB Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 261.62
2019-09-30 297.16
2019-06-30 215.16
2019-03-31 220.81
2018-12-31 222.12
2018-09-30 246.65
2018-06-30 289.28
2018-03-31 242.55
2017-12-31 249.32
2017-09-30 168.25
2017-06-30 137.05
2017-03-31 129.90

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

YRB Past Performance

  How has Yokohama Rubber Company 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 Yokohama Rubber Company'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.
  • Yokohama Rubber Company's year on year earnings growth rate has been positive over the past 5 years.
  • Yokohama Rubber Company's 1-year earnings growth exceeds its 5-year average (17.8% vs 4%)
  • Yokohama Rubber Company's earnings growth has exceeded the DE Auto Components industry average in the past year (17.8% vs -45.1%).
Earnings and Revenue History
Yokohama Rubber Company'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 Yokohama Rubber Company Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:YRB Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 650,462.00 41,971.00 159,009.00
2019-09-30 655,143.00 47,669.00 158,308.00
2019-06-30 651,668.00 34,512.00 157,260.00
2019-03-31 650,605.00 35,415.00 157,126.00
2018-12-31 650,239.00 35,623.00 156,485.00
2018-09-30 640,317.00 39,553.00 138,849.00
2018-06-30 645,112.00 46,385.00 144,753.00
2018-03-31 669,467.00 38,890.00 178,026.00
2017-12-31 646,272.00 39,975.00 154,773.00
2017-09-30 652,765.00 26,977.00 174,959.00
2017-06-30 638,913.00 21,974.00 174,429.00
2017-03-31 614,588.00 20,828.00 169,097.00
2016-12-31 574,048.00 9,362.00 143,040.00
2016-09-30 596,401.00 26,533.00 166,580.00
2016-06-30 601,638.00 28,307.00 166,984.00
2016-03-31 620,467.00 34,099.00 169,042.00
2015-12-31 629,856.00 36,307.00 167,192.00
2015-09-30 639,109.00 33,855.00 165,395.00
2015-06-30 637,705.00 38,781.00 160,182.00
2015-03-31 624,052.00 39,850.00 158,664.00
2014-12-31 625,246.00 40,503.00 155,168.00
2014-09-30 619,029.00 40,373.00 152,811.00
2014-06-30 615,819.00 39,989.00 150,853.00
2014-03-31 613,881.00 35,844.00 150,000.00
2013-12-31 601,630.00 35,008.00 146,641.00
2013-09-30 579,044.00 34,755.00 139,051.00
2013-06-30 560,423.00 31,892.00 134,569.00

*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.
  • Yokohama Rubber Company has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yokohama Rubber Company used its assets more efficiently than the DE Auto Components industry average last year based on Return on Assets.
  • Yokohama Rubber Company has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yokohama Rubber Company'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.
Yokohama Rubber Company has a total score of 5/6, 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.

YRB Health

 How is Yokohama Rubber Company'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 Yokohama Rubber Company's finances.

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

DB:YRB Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 427,678.00 239,870.00 27,909.00
2019-09-30 399,646.00 262,463.00 21,741.00
2019-06-30 390,316.00 249,222.00 22,063.00
2019-03-31 392,170.00 260,215.00 24,409.00
2018-12-31 382,401.00 260,388.00 31,745.00
2018-09-30 381,909.00 297,613.00 42,089.00
2018-06-30 381,299.00 292,046.00 42,357.00
2018-03-31 368,617.00 299,782.00 47,364.00
2017-12-31 387,752.00 315,554.00 62,722.00
2017-09-30 365,236.00 337,061.00 58,085.00
2017-06-30 352,726.00 327,083.00 49,420.00
2017-03-31 348,254.00 339,701.00 50,994.00
2016-12-31 344,738.00 335,912.00 62,195.00
2016-09-30 288,733.00 337,054.00 47,183.00
2016-06-30 294,186.00 165,496.00 36,044.00
2016-03-31 319,860.00 187,775.00 39,478.00
2015-12-31 344,687.00 190,915.00 42,270.00
2015-09-30 326,187.00 211,491.00 34,739.00
2015-06-30 349,594.00 198,904.00 33,971.00
2015-03-31 336,535.00 196,529.00 29,647.00
2014-12-31 330,781.00 184,569.00 45,967.00
2014-09-30 300,414.00 175,599.00 23,108.00
2014-06-30 285,145.00 164,047.00 26,212.00
2014-03-31 272,984.00 176,645.00 31,330.00
2013-12-31 279,021.00 175,440.00 37,179.00
2013-09-30 255,469.00 171,519.00 20,177.00
2013-06-30 250,235.00 154,431.00 17,723.00
  • Yokohama Rubber Company's level of debt (55%) 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 (55.8% vs 55% today).
  • Debt is well covered by operating cash flow (32.1%, greater than 20% of total debt).
  • Yokohama Rubber Company earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Yokohama Rubber Company'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. Yokohama Rubber Company 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.

YRB Dividends

 What is Yokohama Rubber Company'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
4.84%
Current annual income from Yokohama Rubber Company dividends. Estimated to be 5.19% next year.
If you bought €2,000 of Yokohama Rubber Company 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?
  • Yokohama Rubber Company's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Yokohama Rubber Company'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:YRB 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:YRB Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 79.00 1.00
2023-12-31 74.00 1.00
2022-12-31 68.75 4.00
2021-12-31 64.00 7.00
2020-12-31 64.00 5.00
2020-04-07
DB:YRB Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-08-08 62.000 3.159
2019-03-28 62.000 3.089
2019-02-14 62.000 2.869
2018-11-09 62.000 2.742
2018-08-10 62.000 2.691
2018-07-09 62.000 2.665
2018-02-19 62.000 2.504
2017-11-14 52.000 1.958
2017-08-10 52.000 2.276
2017-03-30 52.000 2.350
2017-02-20 52.000 2.294
2016-11-14 52.000 2.508
2016-03-30 52.000 3.277
2016-02-12 52.000 2.842
2015-11-10 52.000 2.778
2015-08-10 52.000 2.300
2015-05-29 52.000 2.057
2015-03-27 52.000 2.015
2015-02-13 52.000 2.144
2014-11-10 52.000 2.374
2014-08-08 56.000 2.996
2014-03-28 44.000 2.438
2014-02-14 44.000 2.266
2013-11-08 44.000 2.253
2013-08-09 44.000 2.362
2013-03-28 44.000 2.044
2013-02-14 44.000 2.428
2012-08-10 36.000 3.050
2012-05-11 26.000 2.358
2012-02-14 26.000 2.285
2011-08-11 14.000 1.619
2011-05-20 14.000 1.558
2011-01-31 20.000 2.433
2010-11-01 20.000 2.353
2010-07-30 20.000 2.409
2010-06-25 20.000 2.293
2010-05-12 20.000 2.329
2010-02-12 20.000 2.424
2010-02-01 20.000 2.633
2009-11-13 20.000 2.738
2009-10-30 20.000 2.678
2009-05-12 20.000 2.218

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 Yokohama Rubber Company's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (8.4x 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 Yokohama Rubber Company'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 Yokohama Rubber Company afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yokohama Rubber Company has a total score of 4/6, see the detailed checks below.


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

YRB Management

 What is the CEO of Yokohama Rubber Company'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
Masataka Yamaishi
AGE 56
TENURE AS CEO 3.1 years
CEO Bio

Mr. Masataka Yamaishi is President & Chairman of the Board of The Yokohama Rubber Company, Limited. Mr. Yamaishi served as Head of Corporate Planning Div. and Head of Tire Business Planning Div. at The Yokohama Rubber Company, Limited since March 31, 2016 and has been its President of Yokohama Motorsports International Co since March 27, 2015. Masataka Yamaishi serves as Managing Corporate Officer at The Yokohama Rubber Company, Limited and served as its Head of Global Procurement Div. until March 31, 2016. Masataka Yamaishi served as President of Acty Corporation, Corporate Officer, Acting Head of Corporate Planning division and Head of Corporate Planning Dept at The Yokohama Rubber Company, Limited and served as its President of Yokohama Motorsports International Co since March 27, 2015. Masataka Yamaishi has been Director of The Yokohama Rubber Company, Limited since March 27, 2015.

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

Average tenure of the Yokohama Rubber Company management team in years:

5.6
Average Tenure
  • The average tenure for the Yokohama Rubber Company management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Masataka Yamaishi

TITLE
President & Chairman of the Board
AGE
56
TENURE
3.1 yrs

Gota Matsuo

TITLE
Managing Officer

Masaki Noro

TITLE
Managing Officer

Takaharu Fushimi

TITLE
Managing Officer & Head of Global Procurement Division
TENURE
7.1 yrs

Hideto Katsuragawa

TITLE
Senior Managing Officer

Hirohisa Hazama

TITLE
Head of OE Tire Sales & Marketing Division and Managing Officer

Atao Kishi

TITLE
Managing Officer
TENURE
7.1 yrs

Shigetoshi Kondo

TITLE
Managing Officer

Osamu Mikami

TITLE
Sr. Managing Officer

Takashi Shirokawa

TITLE
Officer
TENURE
4.1 yrs
Board of Directors Tenure

Average tenure and age of the Yokohama Rubber Company board of directors in years:

4.1
Average Tenure
70
Average Age
  • The tenure for the Yokohama Rubber Company board of directors is about average.
Board of Directors

Masataka Yamaishi

TITLE
President & Chairman of the Board
AGE
56

Gota Matsuo

TITLE
Managing Officer

Masaki Noro

TITLE
Managing Officer

Osamu Mikami

TITLE
Sr. Managing Officer
TENURE
4.1 yrs

Toru Nakamura

TITLE
Officer

Naozumi Furukawa

TITLE
Independent Director
AGE
70

Hideichi Okada

TITLE
Independent Director
TENURE
7.1 yrs

Nobuo Takenaka

TITLE
Independent Director
AGE
71
TENURE
4.1 yrs

Hirokazu Kono

TITLE
Independent Director

Yasushi Kikuchi

TITLE
Audit & Supervisory Board Member
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 Yokohama Rubber Company'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. Yokohama Rubber Company 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.

YRB News

Simply Wall St News

YRB Company Info

Description

The Yokohama Rubber Company, Limited manufactures and sells tires, industrial products, and golf products in Japan, the United States, India, China, the Philippines, and internationally. It operates through Tires, Multiple Business (MB), and Alliance Tire Group (ATG) segments. The Tires segment offers tires for passenger cars and light trucks; trucks and buses; construction and mining equipment; and motor sports, as well as tire tubes, aluminium alloy wheels, and other peripheral products. The MB segment provides high-pressure hoses, conveyor belts, marine hoses and pneumatic marine fenders, and antiseismic products and roadway joints. It also provides sealants and adhesives, aircraft fixtures, and components under the Hamatite brand. The ATG segment provides tires for agricultural, industrial, construction, and forestry machinery. The company also markets golf equipment and services under the PRGR brand. It sells its products primarily under the ADVAN, BluEarth, iceGUARD, GEOLANDAR, and YOKOHAMA brand names. The Yokohama Rubber Company, Limited was founded in 1917 and is headquartered in Tokyo, Japan.

Details
Name: The Yokohama Rubber Company, Limited
YRB
Exchange: DB
Founded: 1917
¥1,730,989,134
160,449,527
Website: http://www.y-yokohama.com
Address: The Yokohama Rubber Company, Limited
36-11, Shimbashi 5-chome,
Minato-ku,
Tokyo,
105-8685,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5101 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK YORU.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB YRB Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK YORU.Y ADR Pink Sheets LLC US USD 20. Mar 2012
Number of employees
Current staff
Staff numbers
27,428
Yokohama Rubber Company employees.
Industry
Tires and Rubber
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:20
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/03/27
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.