Company Valuation: Asahi Kasei Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,768,418 1,473,999 1,283,917 1,541,426 1,423,002 2,356,141 - -
Change - -16.65% -12.9% 20.06% -7.68% 65.58% - -
Enterprise Value (EV) 1 2,210,415 2,006,573 2,007,484 2,158,879 2,224,580 3,148,529 3,090,118 3,031,314
Change - -9.22% 0.05% 7.54% 3.04% 41.53% -1.86% -1.9%
P/E ratio 22.2x 9.11x -14.1x 35.2x 10.7x 16.9x 14.2x 13x
PBR 1.21x 0.87x 0.77x 0.85x 0.76x 1.23x 1.15x 1.08x
PEG - 0x 0x -0x 0x 3.33x 0.8x 1.32x
Capitalization / Revenue 0.84x 0.6x 0.47x 0.55x 0.47x 0.77x 0.73x 0.71x
EV / Revenue 1.05x 0.82x 0.74x 0.78x 0.73x 1.02x 0.96x 0.91x
EV / EBITDA 7.89x 5.72x 6.58x 6.69x 5.59x 7.46x 7.03x 6.46x
EV / EBIT 12.9x 9.9x 15.6x 15.3x 10.5x 13.8x 12.1x 10.9x
EV / FCF 22.1x -53.2x -16.4x 14.1x 24.6x 32.6x 21.9x 20.7x
FCF Yield 4.52% -1.88% -6.12% 7.07% 4.07% 3.07% 4.57% 4.83%
Dividend per Share 2 34 34 36 36 38 40.5 44.36 47.1
Rate of return 2.67% 3.2% 3.89% 3.24% 3.63% 2.33% 2.55% 2.71%
EPS 2 57.49 116.7 -65.84 31.6 97.94 102.9 122 134
Distribution rate 59.1% 29.1% -54.7% 114% 38.8% 39.4% 36.4% 35.2%
Net sales 1 2,106,100 2,461,317 2,726,485 2,784,878 3,037,312 3,078,766 3,206,012 3,340,417
EBITDA 1 280,200 350,776 305,003 322,942 398,027 421,950 439,734 468,972
EBIT 1 171,800 202,647 128,352 140,746 211,921 227,466 255,746 277,861
Net income 1 79,800 161,880 -91,312 43,806 134,996 139,309 164,007 179,460
Net Debt 1 441,997 532,574 723,567 617,453 801,578 792,387 733,976 675,172
Reference price 2 1,274.50 1,062.50 926.30 1,112.00 1,047.00 1,737.00 1,737.00 1,737.00
Nbr of stocks (in thousands) 1,387,539 1,387,294 1,386,070 1,386,174 1,359,123 1,356,443 - -
Announcement Date 13/05/21 13/05/22 10/05/23 09/05/24 09/05/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.88x1.02x7.46x2.33% 15.41B
20.9x3.48x9.8x1.96% 67.4B
26.24x1.06x9.63x4.4% 53.37B
61.98x10.14x42.63x0.9% 16.62B
21.08x0.71x8.3x3.22% 9.98B
11.71x0.75x6.67x2.88% 9.87B
33.48x1.6x8.13x1.99% 9.68B
44.29x5.49x24.78x0.3% 9.27B
20.88x0.81x6.43x2.13% 6.02B
19.09x3.23x11.44x2.83% 5.71B
Average 27.65x 2.83x 13.53x 2.29% 20.33B
Weighted average by Cap. 26.53x 2.85x 12.59x 2.6%

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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