YONEX Financial Results FY3/25 Q3
Analysis date: Jul 14, 2023.
Price return since analysis date: +78.32%
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This report is not a BUY or SELL recommendation.
At the current date, I own YONEX shares, representing around 6% of my portfolio.
Company Overview
Yonex Co. is a Japan-based company that manufactures, purchases, and sales sports equipment such as sportswear, and also operates related sports facilities.
The Company manufactures badminton rackets, tennis rackets, golf clubs, clothing and shoes, snowboards, shuttlecocks, strings, stringing machines, etc.
Yonex is one of the most famous and well-respected brands in the racquet sports universe.
To know more: YONEX
Q3´25 Results.
Net sales +19.5% YoY.
Gross margin 46% (44%).
Operating Profit ¥11.3 bn. +38.8%.
EBIT margin 11.19% (9.63%).
Net Profit ¥9.2 bn. +47.3%.
EPS ¥107.14 (72.63).
Net Sales by geography
Japan +11.4%.
Asia +28.5%.
North America +7.5%.
Europe +21.6%.
Sporting Goods Division
Badminton +18.8%.
Tennis +4.5%.
Golf -8.8%.
Others +34.1%.
Sports facilities +7.8%.
Forecast for the fiscal year ending March 2025
Assumptions:
The sports market is expected to continue trending solidly.
The Company increases marketing investments, leveraging the achievements of athletes in international tournaments to broaden the fanbase.
Net sales ¥134,000 mm +15.1%.
Operating profit ¥13,100 mm +12.8%.
EBIT margin 9.8%.
Earnings per share ¥115.58.
Dividend ¥21 per share.
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