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Dentsu Group

TSE:4324
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4324
TSE
¥1,039B
Market Cap
  1. Home
  2. JP
  3. Media
Company description

Dentsu Group Inc. provides advertising services in Japan and internationally. The last earnings update was 71 days ago. More info.


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4324 Share Price and Events
7 Day Returns
-2.1%
TSE:4324
1.2%
JP Media
0.4%
JP Market
1 Year Returns
-27.8%
TSE:4324
-6.5%
JP Media
12.2%
JP Market
4324 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Dentsu Group (4324) -2.1% -1.8% -1.7% -27.8% -30.5% -22.9%
JP Media 1.2% 0.8% 6.2% -6.5% -5.3% 6.3%
JP Market 0.4% 0.6% 5.3% 12.2% 13.9% 26.2%
1 Year Return vs Industry and Market
  • 4324 underperformed the Media industry which returned -6.5% over the past year.
  • 4324 underperformed the Market in Japan which returned 12.2% over the past year.
Price Volatility
4324
Industry
5yr Volatility vs Market

Value

 Is Dentsu Group 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 Dentsu Group 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 Dentsu Group.

TSE:4324 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 6.6%
Perpetual Growth Rate 10-Year JP Government Bond Rate -0.1%

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 TSE:4324
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Media Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.776 (1 + (1- 30.86%) (58.89%))
1.061
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.061 * 6.33%)
6.63%

Discounted Cash Flow Calculation for TSE:4324 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Dentsu Group 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.

TSE:4324 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.63%)
2020 54,321.00 Analyst x5 50,943.90
2021 65,678.20 Analyst x5 57,765.72
2022 64,652.33 Analyst x3 53,328.28
2023 61,789.50 Analyst x4 47,798.31
2024 43,500.00 Analyst x1 31,558.16
2025 39,900.02 Est @ -8.28% 27,146.88
2026 37,577.81 Est @ -5.82% 23,977.44
2027 36,036.73 Est @ -4.1% 21,564.59
2028 34,992.48 Est @ -2.9% 19,637.90
2029 34,273.24 Est @ -2.06% 18,038.48
Present value of next 10 years cash flows ¥351,759.00
TSE:4324 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥34,273.24 × (1 + -0.09%) ÷ (6.63% – -0.09%)
¥509,631.67
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥509,631.67 ÷ (1 + 6.63%)10
¥268,226.14
TSE:4324 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥351,759.00 + ¥268,226.14
¥619,985.14
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥619,985.14 / 276.74
¥2240.33
TSE:4324 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥2,240.33
Current discount Discount to share price of ¥3,755.00
= -1 x (¥3,755.00 - ¥2,240.33) / ¥2,240.33
-67.6%

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

  • The current share price of Dentsu Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Dentsu Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Dentsu Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:4324 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥130.78
TSE:4324 Share Price ** TSE (2020-01-24) in JPY ¥3755
Japan Media Industry PE Ratio Median Figure of 74 Publicly-Listed Media Companies 19.06x
Japan Market PE Ratio Median Figure of 3,078 Publicly-Listed Companies 16.02x

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

** Primary Listing of Dentsu Group.

TSE:4324 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:4324 Share Price ÷ EPS (both in JPY)

= 3755 ÷ 130.78

28.71x

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

  • Dentsu Group is overvalued based on earnings compared to the JP Media industry average.
  • Dentsu Group is overvalued based on earnings compared to the Japan market.
Price based on expected Growth
Does Dentsu Group's expected growth come at a high price?
Raw Data
TSE:4324 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
29.4%per year
Japan Media Industry PEG Ratio Median Figure of 29 Publicly-Listed Media Companies 1.83x
Japan Market PEG Ratio Median Figure of 1,281 Publicly-Listed Companies 1.89x

*Line of best fit is calculated by linear regression .

TSE:4324 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.71x ÷ 29.4%

0.98x

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

  • Dentsu Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Dentsu Group's assets?
Raw Data
TSE:4324 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥3,567.40
TSE:4324 Share Price * TSE (2020-01-24) in JPY ¥3755
Japan Media Industry PB Ratio Median Figure of 92 Publicly-Listed Media Companies 1.82x
Japan Market PB Ratio Median Figure of 3,547 Publicly-Listed Companies 1.16x
TSE:4324 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:4324 Share Price ÷ Book Value per Share (both in JPY)

= 3755 ÷ 3,567.40

1.05x

* Primary Listing of Dentsu Group.

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

  • Dentsu Group is good value based on assets compared to the JP Media industry average.
X
Value checks
We assess Dentsu Group'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. Dentsu Group has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is Dentsu Group 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
29.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Dentsu Group expected to grow at an attractive rate?
  • Dentsu Group's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Dentsu Group's earnings growth is expected to exceed the Japan market average.
  • Dentsu Group's revenue growth is expected to exceed the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:4324 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:4324 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 29.4%
TSE:4324 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 4.8%
Japan Media Industry Earnings Growth Rate Market Cap Weighted Average 14.7%
Japan Media Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.4%
Japan Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*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
TSE:4324 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.
TSE:4324 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 120,100
2023-12-31 1,270,567 147,180 87,267 3
2022-12-31 1,213,567 134,479 77,233 3
2021-12-31 1,113,420 130,115 66,689 9
2020-12-31 1,088,263 109,890 62,943 11
2020-01-24
2019-12-31 1,037,634 73,520 13,256 10
TSE:4324 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 1,039,954 35,738 36,858
2019-06-30 1,033,926 54,371 78,255
2019-03-31 1,026,983 47,327 76,945
2018-12-31 1,018,512 133,049 90,316
2018-09-30 996,866 143,145 119,165
2018-06-30 971,010 150,290 85,552
2018-03-31 941,135 140,043 98,323
2017-12-31 928,841 141,557 105,478
2017-09-30 907,224 83,237 77,085
2017-06-30 884,677 94,425 78,428
2017-03-31 868,630 91,246 84,229
2016-12-31 838,359 143,585 83,501

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Dentsu Group's earnings are expected to grow significantly at over 20% yearly.
  • Dentsu Group's revenue is expected to grow by 4.8% 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
TSE:4324 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 Dentsu Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:4324 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 312.30 397.50 229.00 3.00
2022-12-31 276.27 330.60 216.20 3.00
2021-12-31 231.79 263.10 180.13 10.00
2020-12-31 224.56 276.70 198.63 10.00
2020-01-24
2019-12-31 44.12 115.00 22.08 8.00
TSE:4324 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 130.78
2019-06-30 277.60
2019-03-31 272.95
2018-12-31 320.39
2018-09-30 422.73
2018-06-30 303.49
2018-03-31 348.68
2017-12-31 373.11
2017-09-30 271.89
2017-06-30 275.84
2017-03-31 295.50
2016-12-31 292.84

*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.
  • Dentsu Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Dentsu Group'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 Japan market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Japan 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.
Dentsu Group has a total score of 4/6, see the detailed checks below.

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

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

Past Performance

  How has Dentsu Group 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 Dentsu Group's growth in the last year to its industry (Media).
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.
  • Dentsu Group's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Dentsu Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Dentsu Group's 1-year earnings growth is negative, it can't be compared to the JP Media industry average.
Earnings and Revenue History
Dentsu Group'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 Dentsu Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:4324 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,039,954.00 36,858.00 784,974.00 1,110.00
2019-06-30 1,033,926.00 78,255.00 784,683.00 1,110.00
2019-03-31 1,026,983.00 76,945.00 773,694.00 1,110.00
2018-12-31 1,018,512.00 90,316.00 761,214.00 1,110.00
2018-09-30 996,866.00 119,165.00 749,250.00 1,134.00
2018-06-30 971,010.00 85,552.00 733,713.00 1,134.00
2018-03-31 941,135.00 98,323.00 716,574.00 1,134.00
2017-12-31 928,841.00 105,478.00 697,606.00 1,134.00
2017-09-30 907,224.00 77,085.00 699,402.00 936.00
2017-06-30 884,677.00 78,428.00 669,842.00 936.00
2017-03-31 868,630.00 84,229.00 642,577.00 936.00
2016-12-31 838,359.00 83,501.00 615,373.00 936.00
2015-12-31 941,958.43 96,870.64 702,398.49 794.67
2015-09-30 -34,305.00 103,078.00 591,252.00 938.00
2015-06-30 362,397.00 87,419.00 563,577.00 938.00
2015-03-31 728,626.00 79,846.00 534,897.00 938.00
2014-12-31 2,390,467.00 43,725.00 504,648.00
2014-09-30 2,363,877.00 31,488.00 492,906.00
2014-06-30 2,333,386.00 41,763.00 475,894.00
2014-03-31 2,309,359.00 38,800.00 466,288.00
2013-12-31 2,191,513.00 37,091.00 411,151.00
2013-09-30 2,102,547.00 37,121.00 362,385.00
2013-06-30 2,007,983.00 26,752.00 319,681.00
2013-03-31 1,941,223.00 36,336.00 273,752.00

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

Health

 How is Dentsu Group'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 Dentsu Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Dentsu Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Dentsu Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Dentsu Group'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 2.8x 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 Dentsu Group Company Filings, last reported 3 months ago.

TSE:4324 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,078,769.00 611,953.00 254,976.00
2019-06-30 1,125,216.00 565,636.00 336,733.00
2019-03-31 1,134,819.00 605,327.00 296,206.00
2018-12-31 1,110,748.00 538,859.00 416,668.00
2018-09-30 1,199,548.00 487,158.00 250,391.00
2018-06-30 1,118,467.00 420,632.00 210,723.00
2018-03-31 1,120,467.00 455,137.00 229,700.00
2017-12-31 1,150,134.00 460,512.00 305,760.00
2017-09-30 1,051,255.00 476,170.00 169,461.00
2017-06-30 1,004,385.00 451,441.00 244,500.00
2017-03-31 983,873.00 472,267.00 227,749.00
2016-12-31 981,960.00 403,598.00 242,410.00
2015-12-31 1,102,742.00 353,782.00 263,322.00
2015-09-30 1,117,701.00 372,159.00 253,632.00
2015-06-30 1,058,638.00 386,288.00 263,206.00
2015-03-31 1,111,063.00 409,617.00 365,379.00
2014-12-31 980,025.00 295,638.00 188,433.00
2014-09-30 888,388.00 298,290.00 221,198.00
2014-06-30 888,169.00 349,149.00 206,106.00
2014-03-31 908,494.00 338,963.00 228,641.00
2013-12-31 844,774.00 344,353.00 134,505.00
2013-09-30 816,488.00 350,145.00 174,583.00
2013-06-30 652,483.00 498,716.00 186,871.00
2013-03-31 608,636.00 212,412.00 208,472.00
  • Dentsu Group's level of debt (56.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (33.1% vs 56.4% today).
  • Debt is not well covered by operating cash flow (5.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.2x coverage).
X
Financial health checks
We assess Dentsu Group'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. Dentsu Group 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.

Dividends

 What is Dentsu Group'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
2.53%
Current annual income from Dentsu Group dividends. Estimated to be 2.6% next year.
If you bought ¥2,000 of Dentsu Group shares you are expected to receive ¥51 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?
  • Dentsu Group's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.31%).
  • Dentsu Group's dividend is below the markets top 25% of dividend payers in Japan (2.92%).
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
TSE:4324 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
Japan Media Industry Average Dividend Yield Market Cap Weighted Average of 64 Stocks 2%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2975 Stocks 2.3%
Japan Minimum Threshold Dividend Yield 10th Percentile 0.7%
Japan Bottom 25% Dividend Yield 25th Percentile 1.3%
Japan Top 25% Dividend Yield 75th Percentile 2.9%

Industry and Market average data is calculated daily.

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

TSE:4324 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 95.00 1.00
2023-12-31 105.00 4.00
2022-12-31 97.50 4.00
2021-12-31 96.50 10.00
2020-12-31 96.67 12.00
2020-01-24
2019-12-31 95.00 12.00
TSE:4324 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-08-07 95.000 2.478
2019-07-16 95.000 2.638
2019-03-28 95.000 2.336
2019-02-14 95.000 2.016
2018-11-14 90.000 1.787
2018-08-20 90.000 1.697
2018-03-29 90.000 1.786
2018-02-13 90.000 1.902
2017-08-09 90.000 1.853
2017-03-30 90.000 1.589
2017-02-14 90.000 1.471
2016-11-14 80.000 1.494
2016-08-12 80.000 1.513
2016-03-30 80.000 1.531
2016-03-08 80.000 1.433
2015-11-11 70.000 1.130
2015-06-26 70.000 1.078
2015-05-14 70.000 1.132
2015-02-12 40.000 0.745
2014-11-12 40.000 0.846
2014-06-27 34.000 0.833
2014-05-13 34.000 0.831
2014-03-10 32.000 0.802
2014-02-13 32.000 0.824
2013-11-13 32.000 0.776
2013-06-27 32.000 0.925
2013-06-14 32.000 0.960
2013-02-13 32.000 1.026
2013-02-08 32.000 1.173
2012-11-08 32.000 1.466
2012-05-14 32.000 1.554
2012-02-14 30.000 1.194
2011-11-14 30.000 1.271
2011-11-09 30.000 1.321
2011-06-29 30.000 1.257
2011-05-12 30.000 1.392
2011-02-10 29.000 1.273
2010-11-10 29.000 1.187
2010-05-17 27.000 1.268
2010-02-15 25.000 1.037
2010-02-10 25.000 1.210
2009-11-10 25.000 1.218
2009-05-11 25.000 1.264
2009-02-16 40.000 2.587
2009-02-13 40.000 2.970

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 Dentsu Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x 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 Dentsu Group'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 Dentsu Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Dentsu Group has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Dentsu Group'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
Toshihiro Yamamoto
AGE 61
TENURE AS CEO 3 years
CEO Bio

Mr. Toshihiro Yamamoto has been the Chief Executive Officer and President of Dentsu Group Inc. (Formerly known as Dentsu Inc.) at Dentsu Aegis Network Ltd. since January 23, 2017 and serves as its Representative Director. Mr. Yamamoto served as President and Chief Executive Officer at Dentsu Digital Holdings. Mr. Yamamoto served as Senior Vice President of Dentsu Group Inc. (Formerly known as Dentsu Inc.) since January 1, 2016 until January 23, 2017 and served as its Executive Officer since April 2011. He serves as President, Chief Executive Officer and Representative Director at Dentsu Group Inc. He serves as Representative Director at Dentsu Group Inc. since March 2017, also as its President & CEO since January, 2017. Mr. Yamamoto served as Manager of Sales, Account and Planning Division at Dentsu Group Inc. (Formerly known as Dentsu, Inc.) since October 2001 and served as its Assistant Manager of Sales, Account and Planning Division since January 2004; Manager of Account Direction Office, Sales, Account and Planning Division since April 2007; Executive Project Manager of Communications Design Center since July 2008 and Central Manager of Communications Design Center since April 2009. He served as Central Manager of Communications Design Center and Head of MC Planning, Dentsu Group Inc. (Formerly known as Dentsu, Inc.) since April 2010. He served as an External Director of Wowow Inc. since June 2013 and currently serves as Director at CAL Co., Ltd. and BS Fuji, Inc. since June 2013. He has been a Director of Dentsu Digital Holdings Inc. since January 2010. He served as a Director of Dentsu Group Inc. (Formerly known as Dentsu Inc.) until March 30, 2016.

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

Average tenure of the Dentsu Group management team in years:

3
Average Tenure
  • The tenure for the Dentsu Group management team is about average.
Management Team

Tim Andree

TITLE
Executive VP & Director
COMPENSATION
¥635M
TENURE
7.8 yrs

Toshihiro Yamamoto

TITLE
President
AGE
61
TENURE
3 yrs

Hiroshi Igarashi

TITLE
Executive Officer & Director

Chuya Aoki

TITLE
IR Officer

Shusaku Kannan

TITLE
Executive Communications Director of Corporate Communications Division

S. Lee

TITLE
Chief Executive Director of Dentsu Malaysia and Executive Creative Director of Dentsu Malaysia
TENURE
14.4 yrs

Yuya Furukawa

TITLE
Head of Communication Design Center and Executive Creative Director

Tetsuji Hirose

TITLE
MD of Strategic Planning Division & Executive Officer
TENURE
3 yrs

Hidemi Matsuo

TITLE
MD of CDC & Executive Officer
TENURE
3 yrs

Norihiro Kuretani

TITLE
MD of Digital Planning Center
AGE
54
TENURE
3 yrs
Board of Directors Tenure

Average tenure and age of the Dentsu Group board of directors in years:

6.1
Average Tenure
64
Average Age
  • The tenure for the Dentsu Group board of directors is about average.
Board of Directors

Tim Andree

TITLE
Executive VP & Director
COMPENSATION
¥635M
TENURE
6.6 yrs

Toshihiro Yamamoto

TITLE
President
AGE
61
TENURE
5.6 yrs

Hiroshi Igarashi

TITLE
Executive Officer & Director

Norihiro Kuretani

TITLE
MD of Digital Planning Center
AGE
54

Nick Priday

TITLE
Executive Officer & Director

Shun Sakurai

TITLE
Executive VP & Director
AGE
66
TENURE
0.8 yrs

Kazuhide Ishii

TITLE
Vice Chairman of Dentsu Malaysia
TENURE
14.4 yrs

Yoshio Takada

TITLE
Executive Officer
AGE
64
TENURE
6.6 yrs

Nobuyuki Tohya

TITLE
Executive Officer

Toshiaki Hasegawa

TITLE
Outside Director
AGE
71
TENURE
3.8 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 Dentsu Group'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. Dentsu Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

Dentsu Group Inc. provides advertising services in Japan and internationally. It offers marketing services, including integrated marketing, PDCA management, marketing system design, business and brand consulting, corporate and visual identity, and business design services; and digital marketing services comprising marketing intelligence, digital performance-based, advertising, system and data solutions, and social marketing services. The company also provides services in the areas of create sphere, such as international awards and creator of year; promotions consisting of value branding, buying behavior data, models channel solutions, and digital activation; media, including media planning, media buying, interactive media, developing new businesses with media companies, audience insight development, and private marketplace; and content comprising sports and entertainment content. In addition, it offers services in the areas of public relations (PR), such as strategic PR, crisis communications, digital PR, global PR, and influencer marketing; outbound and inbound account services, and global content services; and sports and entertainment, as well as IT and events. Dentsu Group Inc. was founded in 1901 and is headquartered in Tokyo, Japan.

Details
Name: Dentsu Group Inc.
4324
Exchange: TSE
Founded: 1901
¥1,039,154,036,290
276,738,758
Website: http://www.group.dentsu.com
Address: Dentsu Group Inc.
1-8-1, Higashi-shimbashi,
Minato-ku,
Tokyo,
105-7001,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 4324 Common Stock The Tokyo Stock Exchange JP JPY 30. Nov 2001
OTCPK DNTU.F Common Stock Pink Sheets LLC US USD 30. Nov 2001
DB DEN Common Stock Deutsche Boerse AG DE EUR 30. Nov 2001
OTCPK DNTU.Y UNSPONSOD ADR Pink Sheets LLC US USD 06. May 2008
Number of employees
Current staff
Staff numbers
62,608
Dentsu Group employees.
Industry
Advertising
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/24 15:04
End of day share price update: 2020/01/24 00:00
Last estimates confirmation: 2020/01/08
Last earnings filing: 2019/11/14
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


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.