Financials Idemitsu Kosan Co.,Ltd.

Equities

5019

JP3142500002

Oil & Gas Refining and Marketing

Market Closed - Japan Exchange Other stock markets 14:30:00 18/07/2025 HKT			5-day change	1st Jan Change
918.80 ^JPY	+0.75%		-0.71%	-11.27%

06-26	Equinor and partners to invest $2.1 billion in Norway oil, gas field	RE
06-26	Equinor and partners to invest $2.1 bln in Norway oil, gas field	RE

Projected Income Statement: Idemitsu Kosan Co.,Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	4,556,620	6,686,761	9,456,281	8,719,201	9,190,225	7,784,957	7,864,100	7,810,367
Change	-	46.75%	41.42%	-7.79%	5.4%	-15.29%	1.02%	-0.68%
EBITDA ¹	247,849	548,730	396,354	445,474	257,844	232,129	324,354	309,667
Change	-	121.4%	-27.77%	12.39%	-42.12%	-9.97%	39.73%	-4.53%
EBIT ¹	140,062	434,453	282,442	346,316	162,185	48,740	180,483	186,850
Change	-	210.19%	-34.99%	22.61%	-53.17%	-69.95%	270.3%	3.53%
Interest Paid ¹	-11,982	-11,207	-15,289	-20,253	-16,731	-17,200	-19,650	-21,400
Earnings before Tax (EBT) ¹	64,582	388,062	348,270	326,754	158,361	76,520	191,900	197,920
Change	-	500.88%	-10.25%	-6.18%	-51.54%	-51.68%	150.78%	3.14%
Net income ¹	34,920	279,498	253,646	228,518	104,055	73,986	145,629	145,133
Change	-	700.4%	-9.25%	-9.91%	-54.47%	-28.9%	96.83%	-0.34%
Announcement Date	11/5/21	10/5/22	9/5/23	14/5/24	13/5/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	982,826	1,032,891	1,195,601	1,345,302	1,302,263	1,564,745	1,780,177	2,039,576	2,204,695	2,609,393	2,397,206	2,244,987	1,818,922	2,205,540	2,377,802	2,316,937	2,260,300	2,243,736	2,372,439	2,313,761	1,671,100	1,808,350	1,745,500	1,870,400
Change	-	5.09%	15.75%	12.52%	-3.2%	20.16%	13.77%	14.57%	8.1%	18.36%	-8.13%	-6.35%	-18.98%	21.26%	7.81%	-2.56%	-2.44%	-0.73%	5.74%	-2.47%	-27.78%	8.21%	-3.48%	7.16%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-70,787	73,916	46,214	90,719	111,305	67,992	99,743	155,413	233,633	120,444	-55,211	-16,424	44,871	158,050	90,779	52,616	122,500	-25,181	25,945	38,910	-101,500	26,350	50,250	55,150
Change	-	204.42%	-37.48%	96.3%	22.69%	-38.91%	46.7%	55.81%	50.33%	-48.45%	-145.84%	70.25%	373.2%	252.23%	-42.56%	-42.04%	132.82%	-120.56%	203.03%	49.97%	-360.86%	125.96%	90.7%	9.75%
Charge d'intérêts	-3,267	-	-3,024	-	-2,805	-	-2,866	-	-3,004	-	-4,587	-	-4,775	-	-4,690	-	-4,078	-	-3,210	-	-	-	-	-
Earnings before Tax (EBT)	-103,887	70,823	38,517	59,129	131,061	72,311	93,194	91,496	253,862	144,708	-44,916	-	59,273	-	97,518	-	136,215	-	36,130	-	-	-	-	-
Change	-	168.17%	-45.62%	53.51%	121.65%	-44.83%	28.88%	-1.82%	177.46%	-43%	-131.04%	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	-81,339	49,224	24,599	42,436	88,380	54,322	57,226	79,570	179,321	101,477	-31,169	4,017	45,406	119,540	74,139	-10,567	95,000	4,420	28,012	-23,399	-75,600	38,000	31,900	50,200
Change	-	160.52%	-50.03%	72.51%	108.27%	-38.54%	5.35%	39.05%	125.36%	-43.41%	-130.72%	112.89%	1,030.35%	163.27%	-37.98%	-114.25%	999.03%	-95.35%	533.76%	-183.53%	-223.09%	150.26%	-16.05%	57.37%
Announcement Date	6/8/20	10/11/20	9/2/21	11/5/21	6/8/21	9/11/21	8/2/22	10/5/22	9/8/22	8/11/22	14/2/23	9/5/23	8/8/23	14/11/23	13/2/24	14/5/24	6/8/24	12/11/24	12/2/25	13/5/25	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S1	2022 S2	2023 S1	2024 S1	2025 S1	2026 S1
Net sales ¹	2,867,008	3,819,753	4,814,088	4,024,462	4,504,025	3,438,900
Change	-	33.23%	26.03%	-16.4%	11.92%	-23.65%
EBITDA	-	-	-	-	-	-
Change	-	-	-	-	-	-
EBIT ¹	179,297	255,156	354,077	202,921	97,330	-75,200
Change	-	42.31%	38.77%	-42.69%	-52.04%	-177.26%
Charge d'intérêts	-5,823	-	-6,961	-9,731	-8,548	-
Earnings before Tax (EBT)	203,372	184,690	398,570	227,807	130,768	-
Change	-	-9.19%	115.8%	-42.84%	-42.6%	-
Net income ¹	142,702	136,796	280,798	164,946	99,442	-37,500
Change	-	-4.14%	105.27%	-41.26%	-39.71%	-137.71%
Announcement Date	9/11/21	10/5/22	8/11/22	14/11/23	12/11/24	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Idemitsu Kosan Co.,Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	1,148,439	1,196,529	1,352,724	1,159,117	1,030,612	1,409,425	1,432,025	1,449,825
Change	-	4.19%	13.05%	-14.31%	-11.09%	36.76%	1.6%	1.24%
Announcement Date	11/5/21	10/5/22	9/5/23	14/5/24	13/5/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Idemitsu Kosan Co.,Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	151,414	118,798	98,688	68,137	111,362	319,133	223,800	223,800
Change	-	-21.54%	-16.93%	-30.96%	63.44%	186.57%	-29.87%	0%
Free Cash Flow (FCF) ¹	60,615	27,313	37,235	311,586	358,228	65,400	79,933	83,133
Change	-	-54.94%	36.33%	736.81%	14.97%	-81.74%	22.22%	4%
Announcement Date	11/5/21	10/5/22	9/5/23	14/5/24	13/5/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Idemitsu Kosan Co.,Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	5.44%	8.21%	4.19%	5.11%	2.81%	2.98%	4.12%	3.96%
EBIT Margin (%)	3.07%	6.5%	2.99%	3.97%	1.76%	0.63%	2.3%	2.39%
EBT Margin (%)	1.42%	5.8%	3.68%	3.75%	1.72%	0.98%	2.44%	2.53%
Net margin (%)	0.77%	4.18%	2.68%	2.62%	1.13%	0.95%	1.85%	1.86%
FCF margin (%)	1.33%	0.41%	0.39%	3.57%	3.9%	0.84%	1.02%	1.06%
FCF / Net Income (%)	173.58%	9.77%	14.68%	136.35%	344.27%	88.4%	54.89%	57.28%
Profitability
ROA	2.76%	10.74%	6.79%	7.8%	4.39%	1.17%	3.1%	3.2%
ROE	3%	21.8%	16.8%	13.4%	5.9%	4.24%	8.15%	8.1%
Financial Health
Leverage (Debt/EBITDA)	4.63x	2.18x	3.41x	2.6x	4x	6.07x	4.42x	4.68x
Debt / Free cash flow	18.95x	43.81x	36.33x	3.72x	2.88x	21.55x	17.92x	17.44x
Capital Intensity
CAPEX / Current Assets (%)	3.32%	1.78%	1.04%	0.78%	1.21%	4.1%	2.85%	2.87%
CAPEX / EBITDA (%)	61.09%	21.65%	24.9%	15.3%	43.19%	137.48%	69%	72.27%
CAPEX / FCF (%)	249.8%	434.95%	265.04%	21.87%	31.09%	487.97%	279.98%	269.21%
Items per share
Cash flow per share ¹	89.53	299.1	241	231.3	149.4	168.4	278.9	-
Change	-	234.04%	-19.43%	-4%	-35.42%	12.73%	65.64%	-
Dividend per Share ¹	24	24	24	32	36	38	40.29	42
Change	-	0%	0%	33.33%	12.5%	5.56%	6.02%	4.26%
Book Value Per Share ¹	774.3	949.9	1,102	1,305	1,405	1,419	1,517	1,623
Change	-	22.68%	16.01%	18.43%	7.63%	1.02%	6.87%	6.99%
EPS ¹	23.49	188	170.7	161.3	77.83	53.38	125.4	126.4
Change	-	700.33%	-9.23%	-5.48%	-51.75%	-31.42%	134.96%	0.78%
Nbr of stocks (in thousands)	1,486,359	1,486,530	1,478,907	1,384,646	1,224,637	1,224,637	1,224,637	1,224,637
Announcement Date	11/5/21	10/5/22	9/5/23	14/5/24	13/5/25	-	-	-