Company Valuation: Canon Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,929,211 2,899,801 3,575,836 4,871,959 4,070,674 3,957,919 - -
Change - -1% 23.31% 36.25% -16.45% -2.77% - -
Enterprise Value (EV) 1 2,749,080 2,944,208 3,588,005 4,889,024 4,430,852 4,265,152 4,179,687 4,094,206
Change - 7.1% 21.87% 36.26% -9.37% -3.74% -2% -2.05%
P/E 13.6x 12.1x 13.7x 31.2x 12.6x 12.5x 11.7x 11x
PBR 1.02x 0.93x 1.07x 1.48x 1.17x 1.13x 1.07x 1.01x
PEG - 0.8x 1.2x -0.8x 0x 8.12x 1.81x 1.55x
Capitalization / Revenue 0.83x 0.72x 0.86x 1.08x 0.88x 0.83x 0.8x 0.79x
EV / Revenue 0.78x 0.73x 0.86x 1.08x 0.96x 0.89x 0.85x 0.81x
EV / EBITDA 5.46x 5.08x 5.84x 9.49x 6.38x 6.12x 5.79x 5.4x
EV / EBIT 9.75x 8.33x 9.56x 17.5x 9.73x 9.34x 8.69x 8x
EV / FCF 10x 36x 20.4x 13.9x 19.6x 15.4x 14.2x 13x
FCF Yield 9.96% 2.78% 4.9% 7.17% 5.11% 6.5% 7.05% 7.72%
Dividend per Share 2 100 120 140 155 160 160.6 168.8 176.1
Rate of return 3.57% 4.2% 3.87% 3% 3.45% 3.45% 3.62% 3.78%
EPS 2 205.4 236.7 264.2 165.5 367.5 373.1 397.2 425.3
Distribution rate 48.7% 50.7% 53% 93.6% 43.5% 43% 42.5% 41.4%
Net sales 1 3,513,357 4,031,414 4,180,972 4,509,821 4,624,727 4,783,150 4,938,722 5,040,144
EBITDA 1 503,164 579,891 614,042 515,219 694,626 696,423 721,458 757,817
EBIT 1 281,918 353,399 375,366 279,754 455,390 456,517 480,969 511,512
Net income 1 214,718 243,961 264,513 160,025 332,053 327,281 335,166 352,692
Net Debt 1 -180,131 44,407 12,169 17,065 360,178 307,234 221,768 136,287
Reference price 2 2,801.00 2,855.50 3,620.00 5,161.00 4,633.00 4,660.00 4,660.00 4,660.00
Nbr of stocks (in thousands) 1,045,773 1,015,514 987,800 943,995 878,626 849,339 - -
Announcement Date 27/01/22 30/01/23 30/01/24 30/01/25 29/01/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.49x0.89x6.12x3.45% 25.44B
13.12x1.03x5.77x2.47% 7.76B
14.13x0.48x5.79x2.59% 6.17B
38.16x11.23x26.53x0.78% 4.08B
11.45x2.22x7.24x2.07% 2.41B
11.03x0.47x5x2.71% 2.11B
13.06x0.65x7.62x2.51% 1.5B
12.81x - - 2.01% 1.02B
11.63x - - 2.87% 582M
Average 15.32x 2.42x 9.15x 2.38% 5.67B
Weighted average by Cap. 14.74x 1.75x 7.76x 2.82%

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