DMW Corp(TYO.6365): FY2024 Q4 Earning Update
Overseas growth story works, Upward dividend trend, Yield 4.1%, Still Net-Net.
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DMW announced FY2024 Q4 earning update in 2025/05/15. (Link)
Solid business performance. Sales/Profit grew YoY. Especially, operating profit was up significantly, because their contract price was revised based on the inflational situation.
Overseas business is a growth factor. Looking into the overseas sales, it grew by 70% YoY. Growth story works well.
The order amount and backlog order were solid in this year, so DMW continues to make a stable profit next year.
For dividend, the dividend for FY2024 increased 170→175 yen. The proposed dividend for FY2025 is 180 yen, which includes commemorative dividend 20 yen for 115 year foundation. The expected yield is 4.1%. Their dividend history is the beautiful upward trend.
Finally, valuation. It’s almost Net-Net stock. Cash+PER‘ valuation has a margin 80%~127%. Forward PER 8.2x.
