Nankai Plywood Co Ltd
Ratios
JPY
31.03.201231.03.201331.03.201531.03.201631.03.201731.03.2018
Profitability
ROA0%2%0%(2%)2%3%
ROC (Oper. Income/Debt+Equity)6%4%(0%)4%6%
ROTC (NI+Interest/Total Capital)6%4%4%6%
ROE (Return on Equity)0%3%1%(2%)3%4%
Margin Analysis
Gross Margin36%32%27%27%30%32%
SG&A Margin27%27%27%26%26%25%
EBITDA Margin11%8%4%4%7%9%
EBIT (Oper. Income) Margin8%5%(0%)4%6%
Income before XO Margin1%3%1%(2%)3%4%
Net Income Margin1%3%1%(2%)3%4%
Free Cash Flow Margin(6%)5%(6%)2%3%3%
Turnover
Total Asset Turnover0.7x0.7x0.7x0.8x0.8x0.8x
Fixed Asset Turnover2.2x2.4x2.3x2.3x2.4x2.6x
Accounts Receivable Turnover3x3x3x3x3x3x
Inventory Turnover (COGS)3x3x3x3x3x3x
Accounts Payable Turnover (COGS)7x8x10x13x14x13x
Short Term Liquidity
Current Ratio4.4x4.3x3.8x3.5x3.3x4.0x
Quick Ratio2.8x2.8x2.2x2.0x2.1x2.5x
Cash from Ops. To Curr Liab(0.2x)0.4x(0.0x)0.3x0.3x0.3x
Avg. Days Receivable Out.136d135d122d110d116d119d
Avg. Days Inventory Out.142d121d144d132d115d111d
Avg. Days Payable Out.54d44d37d28d27d29d
Avg. Cash Conversion Cycle224d212d229d215d204d202d
Long Term Solvency
Total Debt/Equity7%9%10%5%
Total Debt/Capital7%8%9%4%
LT Debt/Equity2%1%2%1%
LT Debt/Capital2%1%2%1%
Total Liabilities/Total Assets12%13%17%20%21%17%
Interest Coverage (EBIT/I)(1x)(2x)88x217x
EBITDA / Interest Exp.118x80x160x312x
(EBITDA-CAPEX) / Interest Exp.(58x)(5x)82x253x
Total Debt/EBITDA2.2x2.6x1.4x0.5x
Net Debt/EBITDA(0.9x)(1.4x)(0.3x)(1.0x)(0.7x)(0.8x)
Capex & Depreciation
Depreciation Expenses372457561571553497
Capital Expenditures(279)(335)(832)(595)(604)(308)
growth, % yoy20%62%(28%)1%(49%)
Asset Reinvestment Ratio0.8x0.7x1.5x1.0x1.1x0.6x
CAPEX/Sales2%3%5%4%4%2%
CAPEX/Total Assets2%2%4%3%3%1%