Company Valuation: Alfresa Holdings Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 343,826 343,217 415,318 383,847 459,384 400,118 - -
Change - -0.18% 21.01% -7.58% 19.68% -12.9% - -
Enterprise Value (EV) 168,429 186,950 236,499 242,307 301,938 400,118 400,118 400,118
Change - 11% 26.5% 2.46% 24.61% 32.52% 0% 0%
P/E 11.1x 13.3x 14.4x 14.3x 11x 17.2x 14.5x 15.1x
PBR 0.73x 0.7x 0.87x 0.8x 0.91x 0.8x 0.76x 0.77x
PEG - -0.8x 0.7x -3.34x 0.2x -0.4x 0.8x -3.71x
Capitalization / Revenue 0.13x 0.13x 0.15x 0.13x 0.15x 0.13x 0.12x 0.12x
EV / Revenue 0x 0x 0x 0x 0x 0.13x 0.12x 0.12x
EV / EBITDA 0x 0x 0x 0x 0x 7.75x 7.66x 7.62x
EV / EBIT 0x 0x 0x 0x 0x 11.6x 10.8x 10.5x
EV / FCF 0x -0x 0x -0x 0x 19.1x 24.5x 33.3x
FCF Yield 11.3% -2.17% 17.4% -4.12% 6.5% 5.25% 4.09% 3%
Dividend per Share 2 54 57 70 63 68 71 79.67 85
Rate of return 3.18% 3.36% 3.15% 2.98% 2.69% 3.11% 3.49% 3.73%
EPS 2 153.6 127.4 154.1 147.5 229.6 132.4 157 150.6
Distribution rate 35.2% 44.7% 45.4% 42.7% 29.6% 53.6% 50.8% 56.5%
Net sales 1 2,585,643 2,696,069 2,858,500 2,961,051 3,104,064 3,193,819 3,288,778 3,340,075
EBITDA 1 41,915 43,450 51,974 58,607 51,212 51,628 52,221 52,514
EBIT 1 29,091 30,148 38,460 38,080 36,164 34,398 36,942 38,069
Net income 1 32,182 25,786 29,558 27,389 41,746 23,414 27,149 26,886
Net Debt -175,397 -156,267 -178,819 -141,540 -157,446 - - -
Reference price 2 1,699.00 1,696.00 2,222.50 2,111.50 2,528.00 2,281.00 2,281.00 2,281.00
Nbr of stocks (in thousands) 202,370 202,369 186,870 181,789 181,719 175,413 - -
Announcement Date 16/05/22 15/05/23 14/05/24 15/05/25 15/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.72x - - 3.03% 2.61B
28.61x3.96x15.3x2.55% 175B
18.93x3.47x12.41x3.15% 114B
16.64x0.19x12.23x0.78% 57.98B
35.43x3.42x11.72x2.13% 50.07B
28.77x7.1x18.35x1.39% 50.13B
34.75x6.11x19.18x-.--% 32.71B
46x1.3x12.07x0.21% 30.77B
43.81x7.69x27.57x0.24% 26.44B
55.45x7.38x23.73x0.38% 23.96B
Average 32.61x 4.51x 16.95x 1.39% 56.39B
Weighted average by Cap. 29.14x 4.00x 15.33x 1.87%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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