Company Valuation: ARCS Company Limited

Data adjusted to current consolidation scope
Fiscal Period: February 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 122,554 121,367 167,170 150,552 207,261 199,002 - -
Change - -0.97% 37.74% -9.94% 37.67% -3.98% - -
Enterprise Value (EV) 82,090 76,237 118,593 100,607 145,410 199,002 199,002 199,002
Change - -7.13% 55.56% -15.17% 44.53% 36.86% 0% 0%
P/E 11.9x 12.2x 14.5x 13.6x 16.8x 16x 15.2x 14.4x
PBR 0.75x 0.71x 0.94x 0.82x 1.06x 0.98x 0.94x 0.9x
PEG - -4.45x 0.7x -3.21x 1.3x 26.63x 2.7x 2.69x
Capitalization / Revenue 0.21x 0.21x 0.28x 0.25x 0.33x 0.31x 0.3x 0.29x
EV / Revenue 0x 0x 0x 0x 0x 0.31x 0.3x 0.29x
EV / EBITDA 0x 0x 0x 0x 0x 7.03x 6.63x 6.38x
EV / EBIT 0x 0x 0x 0x 0x 11.1x 10.5x 9.95x
EV / FCF 0x 0x 0x 0x 0x 18.8x 13.9x 13.2x
FCF Yield 8.02% 7.6% 8.02% 4.97% 8.69% 5.33% 7.19% 7.59%
Dividend per Share 2 57 58 68 74 82 85.5 92 97
Rate of return 2.62% 2.68% 2.2% 2.65% 2.11% 2.29% 2.46% 2.6%
EPS 2 182.5 177.5 214 205 231.4 232.8 245.8 259
Distribution rate 31.2% 32.7% 31.8% 36.1% 35.4% 36.7% 37.4% 37.5%
Net sales 1 577,568 566,209 591,557 608,284 626,957 645,800 664,100 683,200
EBITDA 1 24,430 23,657 26,705 26,361 28,157 28,300 30,000 31,200
EBIT 1 15,562 14,835 16,831 15,936 17,632 17,900 18,950 20,000
Net income 1 10,304 9,947 11,766 11,063 12,445 12,400 13,100 13,800
Net Debt -40,464 -45,130 -48,577 -49,945 -61,851 - - -
Reference price 2 2,176.00 2,168.00 3,095.00 2,789.00 3,890.00 3,735.00 3,735.00 3,735.00
Nbr of stocks (in thousands) 56,321 55,981 54,013 53,981 53,280 53,280 - -
Announcement Date 14/04/22 14/04/23 15/04/24 14/04/25 13/04/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.05x - - 2.29% 1.28B
19.72x0.86x5.8x6.39% 37.25B
17.04x0.6x6.84x2.91% 28.02B
35.32x1.46x18.19x0.34% 27.98B
69.1x3.06x40.06x-.--% 26.04B
26.98x0.84x9.01x3.56% 22.85B
11.6x0.24x4.43x6.35% 13.49B
16.9x0.4x5.75x3.63% 13.31B
7.28x1.62x5.51x2.8% 10.9B
20.88x0.8x8.79x2.73% 10.7B
Average 24.09x 1.10x 11.60x 3.1% 19.18B
Weighted average by Cap. 27.74x 1.17x 12.89x 3.16%

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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