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ORIX

DB:OIX
Snowflake Description

Undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OIX
DB
¥2,098B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

ORIX Corporation provides diversified financial services. The last earnings update was 61 days ago. More info.


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OIX Share Price and Events
7 Day Returns
0.7%
DB:OIX
5%
DE Diversified Financial
2.8%
DE Market
1 Year Returns
-0.9%
DB:OIX
1.4%
DE Diversified Financial
3%
DE Market
OIX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ORIX (OIX) 0.7% -3.5% 0.7% -0.9% 9.1% 44%
DE Diversified Financial 5% 7.8% -5% 1.4% 75.8% 333.7%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • OIX underperformed the Diversified Financial industry which returned 1.4% over the past year.
  • OIX underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
OIX
Industry
5yr Volatility vs Market
Related Companies

OIX Value

 Is ORIX 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 ORIX 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 ORIX.

DB:OIX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= ¥2,700.38 * 10.9%
¥293.86
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. ¥2,700.38
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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:OIX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 30.86%) (226.97%))
0.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.859 * 5.96%)
5.35%

Discounted Cash Flow Calculation for DB:OIX using Excess Returns Model Model

The calculations below outline how an intrinsic value for ORIX is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:OIX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.9% – 5.35%) * ¥2,700.38)
¥149.50
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ¥149.50 / (5.35% - 0.23%)
¥2,921.02
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ¥2,700.38 + ¥2,921.02
¥5621.4
DB:OIX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:OIX represents 0.0083x of TSE:8591
(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
= ¥ 5,621.40 x 0.0083
€46.63
Value per share (EUR) From above. €46.63
Current discount Discount to share price of €13.60
= -1 x (€13.60 - €46.63) / €46.63
70.8%

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

Current Discount
Amount off the current price ORIX is available for.
Intrinsic value
>50%
Share price is €13.6 vs Future cash flow value of €46.63
Current Discount Checks
For ORIX to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ORIX's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • ORIX's share price is below the future cash flow value, and 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 ORIX's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ORIX's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:OIX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in JPY ¥244.54
TSE:8591 Share Price ** TSE (2019-10-11) in JPY ¥1639.5
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of ORIX.

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

= TSE:8591 Share Price ÷ EPS (both in JPY)

= 1639.5 ÷ 244.54

6.7x

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

  • ORIX is good value based on earnings compared to the DE Diversified Financial industry average.
  • ORIX is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does ORIX's expected growth come at a high price?
Raw Data
DB:OIX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
4.1%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.7x ÷ 4.1%

1.64x

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

  • ORIX is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ORIX's assets?
Raw Data
DB:OIX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in JPY ¥2,252.38
TSE:8591 Share Price * TSE (2019-10-11) in JPY ¥1639.5
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:OIX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:8591 Share Price ÷ Book Value per Share (both in JPY)

= 1639.5 ÷ 2,252.38

0.73x

* Primary Listing of ORIX.

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

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

OIX Future Performance

 How is ORIX expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ORIX expected to grow at an attractive rate?
  • ORIX's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • ORIX's earnings growth is positive but not above the Germany market average.
  • ORIX's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:OIX Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:OIX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 4.1%
DB:OIX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 3.7%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:OIX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:OIX Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 2,737,744 404,627 1
2023-03-31 2,565,687 368,022 2
2022-03-31 2,831,636 362,457 9
2021-03-31 2,735,379 350,208 10
2020-03-31 2,430,225 334,954 6
2019-10-13
DB:OIX Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-06-30 2,359,322 669,049 313,008
2019-03-31 2,426,259 587,678 323,745
2018-12-31 2,455,879 599,795 292,951
2018-09-30 2,604,596 623,770 302,215
2018-06-30 2,670,085 577,168 303,370
2018-03-31 2,858,336 568,791 313,135
2017-12-31 2,947,614 491,526 312,512
2017-09-30 2,975,180 471,548 297,059
2017-06-30 2,882,833 554,723 286,182
2017-03-31 2,676,214 583,800 273,239
2016-12-31 2,497,234 596,332 261,923
2016-09-30 2,419,481 622,945 241,021

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ORIX's earnings are expected to grow by 4.1% yearly, however this is not considered high growth (20% yearly).
  • ORIX's revenue is expected to grow by 3.7% 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:OIX 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 10 Analyst Estimates (S&P Global) See Below

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

DB:OIX Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 315.67 315.67 315.67 1.00
2023-03-31 298.84 298.84 298.84 1.00
2022-03-31 288.73 323.73 266.80 10.00
2021-03-31 274.98 295.38 251.20 11.00
2020-03-31 261.35 271.92 237.90 10.00
2019-10-13
DB:OIX Past Financials Data
Date (Data in JPY Millions) EPS *
2019-06-30 244.54
2019-03-31 252.92
2018-12-31 228.86
2018-09-30 236.11
2018-06-30 237.05
2018-03-31 244.40
2017-12-31 242.68
2017-09-30 229.43
2017-06-30 219.77
2017-03-31 208.88
2016-12-31 200.10
2016-09-30 184.08

*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.
  • ORIX is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ORIX'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 Europe 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.
ORIX has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

OIX Past Performance

  How has ORIX 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 ORIX's growth in the last year to its industry (Diversified Financial).
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.
  • ORIX's year on year earnings growth rate has been positive over the past 5 years.
  • ORIX's 1-year earnings growth is less than its 5-year average (3.2% vs 6.8%)
  • ORIX's earnings growth has not exceeded the Europe Diversified Financial industry average in the past year (3.2% vs 3.5%).
Earnings and Revenue History
ORIX'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 ORIX Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:OIX Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 2,359,322.00 313,008.00 463,930.00
2019-03-31 2,426,259.00 323,745.00 457,678.00
2018-12-31 2,455,879.00 292,951.00 462,494.00
2018-09-30 2,604,596.00 302,215.00 459,024.00
2018-06-30 2,670,085.00 303,370.00 456,871.00
2018-03-31 2,858,336.00 313,135.00 457,677.00
2017-12-31 2,947,614.00 312,512.00 452,042.00
2017-09-30 2,975,180.00 297,059.00 449,655.00
2017-06-30 2,882,833.00 286,182.00 447,415.00
2017-03-31 2,676,214.00 273,239.00 444,055.00
2016-12-31 2,497,234.00 261,923.00 434,295.00
2016-09-30 2,419,481.00 241,021.00 431,323.00
2016-06-30 2,350,590.00 255,428.00 432,200.00
2016-03-31 2,368,594.00 260,169.00 443,968.00
2015-12-31 2,397,973.00 264,907.00 458,439.00
2015-09-30 2,387,492.00 254,947.00 467,639.00
2015-06-30 2,353,533.00 250,280.00 468,033.00
2015-03-31 2,172,933.00 234,651.00 446,928.00
2014-12-31 2,006,131.00 253,934.00 410,766.00
2014-09-30 1,738,599.00 246,584.00 387,123.00
2014-06-30 1,522,240.00 205,793.00 363,144.00
2014-03-31 1,372,977.00 179,863.00 329,835.00
2013-12-31 1,213,489.00 135,033.00 298,346.00
2013-09-30 1,138,199.00 128,304.00 270,850.00
2013-06-30 1,081,394.00 118,261.00 245,769.00
2013-03-31 1,052,395.00 111,741.00 237,908.00
2012-12-31 1,049,968.00 103,108.00 222,212.00

*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.
  • ORIX has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ORIX used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • ORIX's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ORIX'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 Diversified Financial 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.
ORIX has a total score of 1/6, 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.

OIX Health

 How is ORIX'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 ORIX's finances.

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

DB:OIX Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,955,476.00 4,474,558.00 1,028,204.00
2019-03-31 2,962,981.00 4,513,210.00 1,162,734.00
2018-12-31 2,891,029.00 4,630,109.00 1,750,491.00
2018-09-30 2,937,612.00 4,189,194.00 1,736,225.00
2018-06-30 2,842,423.00 4,005,239.00 1,241,768.00
2018-03-31 2,806,294.00 4,138,182.00 1,743,621.00
2017-12-31 2,813,198.00 4,254,171.00 1,704,725.00
2017-09-30 2,754,572.00 4,207,775.00 1,674,024.00
2017-06-30 2,665,370.00 4,262,010.00 1,710,369.00
2017-03-31 2,654,173.00 4,143,018.00 1,609,248.00
2016-12-31 2,585,274.00 4,177,831.00 1,589,935.00
2016-09-30 2,531,239.00 4,021,323.00 1,620,081.00
2016-06-30 2,493,265.00 4,144,962.00 1,512,305.00
2016-03-31 2,480,286.00 4,292,480.00 1,456,334.00
2015-12-31 2,459,917.00 4,345,465.00 1,619,396.00
2015-09-30 2,438,779.00 4,376,344.00 1,822,974.00
2015-06-30 2,422,885.00 4,416,600.00 1,940,664.00
2015-03-31 2,384,972.00 4,419,626.00 2,031,080.00
2014-12-31 2,368,748.00 4,295,767.00 2,158,500.00
2014-09-30 2,283,512.00 4,201,248.00 2,322,313.00
2014-06-30 2,159,559.00 4,120,165.00 876,515.00
2014-03-31 2,149,542.00 4,161,633.00 842,217.00
2013-12-31 2,001,785.00 4,160,250.00 729,974.00
2013-09-30 1,878,373.00 4,120,979.00 740,703.00
2013-06-30 1,779,941.00 4,210,252.00 783,135.00
2013-03-31 1,729,194.00 4,483,719.00 872,347.00
2012-12-31 1,561,686.00 4,478,946.00 712,634.00
  • ORIX's level of debt (151.4%) 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 (190.7% vs 151.4% today).
  • Debt is not well covered by operating cash flow (15%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess ORIX'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. ORIX has a total score of 3/6, 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.

OIX Dividends

 What is ORIX'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
4.64%
Current annual income from ORIX dividends. Estimated to be 5.18% next year.
If you bought €2,000 of ORIX shares you are expected to receive €93 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?
  • ORIX's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • ORIX's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
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:OIX 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 10 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:OIX Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 104.20 1.00
2023-03-31 98.60 1.00
2022-03-31 87.65 10.00
2021-03-31 83.53 10.00
2020-03-31 80.32 10.00
2019-10-13
DB:OIX Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-25 76.000 4.734
2019-05-07 76.000 4.881
2019-01-28 76.000 4.724
2018-10-26 76.000 4.392
2018-06-28 66.000 3.682
2018-05-09 66.000 3.526
2017-06-29 52.250 2.785
2017-05-15 52.250 2.970
2017-01-26 51.000 2.968
2016-10-26 51.000 2.879
2016-06-23 46.000 3.208
2016-05-10 47.500 3.216
2016-02-12 44.000 2.837
2016-01-27 46.000 2.889
2015-11-12 44.000 2.598
2015-10-29 46.000 2.551
2015-06-25 36.000 2.105
2015-05-12 36.000 1.890
2015-01-29 33.000 1.960
2014-06-26 23.000 1.509
2014-05-08 23.000 1.426
2013-05-09 13.000 0.855
2012-05-10 9.000 1.048
2011-05-10 8.000 1.119
2010-05-10 7.500 1.024
2009-06-26 7.000 1.070
2009-05-08 7.000 1.175

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 ORIX's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x 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 ORIX's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 ORIX afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ORIX 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.

OIX Management

 What is the CEO of ORIX'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
Makoto Inoue
COMPENSATION ¥268,000,000
AGE 67
TENURE AS CEO 5.3 years
CEO Bio

Mr. Makoto Inoue has been the President at ORIX Corporation since January 1, 2011, Representative Executive Officer since January 2011 and its Chief Executive Officer since June 24, 2014. Mr. Inoue serves at ORIX Capital Resources Ltd., ORIX Ireland Ltd., ORIX Ship Resources Private Ltd., ORIX Maritime Corp., ORIX Aircraft Corp., ORIX-ECB (Cayman) Inc. He is responsible for Group Strategy Business Unit at ORIX Corporation since January 2018. He served as the Co-Chief Executive Officer at ORIX Corporation since January 1, 2014 and as its Chief Operating Officer since January 1, 2011. Mr. Inoue served as Deputy President at ORIX Corp. from June 2010 to January 2011 and also served as its Head of Global Business & Alternative Investment. He served as a Corporate Executive Vice President of Global Business & Alternative Investment Headquarters since June 2009. Mr. Inoue served as Corporate Executive Vice President at ORIX Corp. since June 2009. He served as Senior Vice President of International Administrative Headquarters Alternative Investment & Development Headquarters and IT Planning Office at ORIX Corp. Mr. Inoue joined ORIX Corp. in April 1975. He served as General Manager of the Investment Banking Headquarters at ORIX Corp. since March 2001, a Deputy Head of the Investment Banking Headquarters since January 2003, Executive Officer and the Head of the Alternative Investment & Development Headquarters since February 2005, Corporate Senior Vice President since January 2006 and an executive officer. Mr. Inoue was responsible for the IT Planning Office since December 2006. He served as the President at ORIX Computer Systems Corporation since May 2007 and since June 2008 worked in International Administrative Headquarters. Mr. Inoue was Director of Haichang Ocean Park Holdings Ltd (alternate name Haichang Holdings Ltd) since July 2012 until August 27, 2018. He serves as a Director of ORIX Capital Resources Limited, ORIX Ireland Limited, ORIX Ship Resources Private Limited, ORIX Maritime Corporation, ORIX Aircraft Corporation and ORIX-ECB (Cayman) Inc. Mr. Inoue has been Director of ORIX Corp. since June 2010. He is a Member of Supervisory Board of Robeco Group N.V. since 2013. Mr. Inoue served as the Chairman of Orix Auto Infrastructure Services Limited. He served as Chairman of the Board of Orix Leasing Pakistan Ltd. from February 2009 to June 14, 2010. Mr. Inoue has been an Outside Director of Kansai Airports since July 3, 2017. He has been a Non-Executive Director of China Water Affairs Group Limited since July 20, 2012. He served as a Director of Infrastructure Leasing & Financial Services Limited since April 22, 2009. He served as a Non-Executive Director of Lanka Orix Leasing Company PLC since February 6, 2009. Mr. Inoue served as a Director of EnTie Commercial Bank, Co. Ltd. since December 27, 2007. He holds a B.A. from Chuo University and Faculty of Law in 1975.

CEO Compensation
  • Makoto's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Makoto's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

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

5.3
Average Tenure
60.5
Average Age
  • The average tenure for the ORIX management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Makoto Inoue

TITLE
Chairman
COMPENSATION
¥268M
AGE
67
TENURE
5.3 yrs

Stan H. Koyanagi

TITLE
Managing Executive Officer
COMPENSATION
¥100M
AGE
59
TENURE
2.3 yrs

Shuji Irie

TITLE
Managing Executive Officer
AGE
56
TENURE
5.8 yrs

Hitomaro Yano

TITLE
Head of Treasury & Accounting Headquarters and Executive Officer
AGE
57
TENURE
1.8 yrs

Yasuaki Mikami

TITLE
Head of Group Human Resources & Corporate Administration Headquarters and Executive Officer
AGE
51
TENURE
2.8 yrs

Shinichi Tomioka

TITLE
Senior Manager of Corporate Planning Department Treasury & Accounting Headquarters

Kohei Uehara

TITLE
Senior Manager of Corporate Planning Department Treasury & Accounting Headquarters

Katsunobu Kamei

TITLE
Group Senior Managing Executive & Chairman of ORIX Auto Corporation
AGE
62
TENURE
8.8 yrs

Yuichi Nishigori

TITLE
Senior Managing Executive Officer
AGE
62
TENURE
5.8 yrs

Kazutaka Shimoura

TITLE
Managing Executive Officer and Head of Credit & Investment Management Headquarters
AGE
64
Board of Directors Tenure

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

3.3
Average Tenure
62
Average Age
  • The tenure for the ORIX board of directors is about average.
Board of Directors

Makoto Inoue

TITLE
Chairman
COMPENSATION
¥268M
AGE
67
TENURE
5.8 yrs

Stan H. Koyanagi

TITLE
Managing Executive Officer
COMPENSATION
¥100M
AGE
59
TENURE
2.3 yrs

Shuji Irie

TITLE
Managing Executive Officer
AGE
56
TENURE
1.3 yrs

Yuichi Nishigori

TITLE
Senior Managing Executive Officer
AGE
62
TENURE
4.3 yrs

Satoru Matsuzaki

TITLE
Managing Executive Officer
AGE
53
TENURE
0.3 yrs

Shoji Taniguchi

TITLE
Managing Executive Officer
AGE
55
TENURE
0.3 yrs

Yoshitaka Matsuno

TITLE
Chairman of Orix Credit Corporation
AGE
73
TENURE
14.3 yrs

Haruyuki Urata

TITLE
President & Representative Director of ORIX Bank Corporation
COMPENSATION
¥260M
AGE
65

Kazuo Kojima

TITLE
President & Representative Director of Daikyo Incorporated
COMPENSATION
¥104M
AGE
63

Yoshitaka Fujisawa

TITLE
Chairman of Orix Computer Systems Corporation
TENURE
6.8 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 ORIX'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. ORIX 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.

OIX News

Simply Wall St News

OIX Company Info

Description

ORIX Corporation provides diversified financial services. It operates through six segments: Corporate Financial Services, Maintenance Leasing, Real Estate, Investment and Operation, Retail, and Overseas Business. The Corporate Financial Services segment offers leasing, loans, and other fee based services to primarily small- and medium-sized enterprises. The Maintenance Leasing segment engages in the leasing, automobile rental, and car sharing businesses; rental of precision measuring, information technology-related and medical, and environmental analysis equipment, as well as tablet computers; sale of software packages; equipment calibration and asset management activities; and provision of technical support, vehicle maintenance outsourcing, and tailor-made services for corporate and individual clients. The Real Estate segment develops and leases office buildings, commercial properties, logistics centers, and residences; and operates accommodations, aquariums, training facilities, baseball stadiums, and theaters. This segment also offers REIT asset management and real estate investment advisory services. The Investment and Operation segment engages in the collection and disposal of waste generated from end-of-lease assets; environment and energy business, such as mega-solar and electric power retailing; and investment in wind power generation and hydropower projects. The Retail segment offers life insurance, banking, and card loan products and services. The Overseas Business segment is involved in leasing, financing, management, investment, intermediary, and sales activities in the field of aircraft and ship. The company has operations in Japan, the Americas, Asia, Europe, Australasia, the Middle East, and internationally. The company was formerly known as Orient Leasing Co., Ltd. and changed its name to ORIX Corporation in 1989. ORIX Corporation was incorporated in 1950 and is headquartered in Tokyo, Japan.

Details
Name: ORIX Corporation
OIX
Exchange: DB
Founded: 1950
¥17,495,525,349
1,279,961,231
Website: http://www.orix.co.jp
Address: ORIX Corporation
World Trade Center Building,
2-4-1 Hamamatsu-cho,
Tokyo,
105-6135,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 8591 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK ORXC.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB OIX Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
NYSE IX SPON ADR EACH REP 5 ORD NPV(CIT) New York Stock Exchange US USD 16. Sep 1998
DB OIXA SPON ADR EACH REP 5 ORD NPV(CIT) Deutsche Boerse AG DE EUR 16. Sep 1998
Number of employees
Current staff
Staff numbers
32,411
ORIX employees.
Industry
Other Diversified Financial Services
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 21:31
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/26
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
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.