Company Valuation: Daiichi Sankyo Company, Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 6,179,276 5,136,821 9,244,546 9,159,669 6,590,893 5,274,129 - -
Change - -16.87% 79.97% -0.92% -28.04% -19.98% - -
Enterprise Value (EV) 1 5,538,193 4,456,437 8,995,480 8,614,202 6,052,387 4,774,143 4,794,397 4,754,243
Change - -19.53% 101.85% -4.24% -29.74% -21.12% 0.42% -0.84%
P/E ratio 82.3x 76.7x 84.7x 45.6x 22.5x 17x 15.2x 13x
PBR 4.86x 3.8x 6.39x 5.43x 4.1x 2.85x 2.68x 2.36x
PEG - -7.1x 1.3x 0.5x 0.5x 2.15x 1.3x 0.8x
Capitalization / Revenue 6.42x 4.92x 7.23x 5.72x 3.49x 2.48x 2.26x 2.04x
EV / Revenue 5.75x 4.26x 7.04x 5.38x 3.21x 2.25x 2.06x 1.84x
EV / EBITDA 45.7x 33.9x 47.8x 31.8x 15.1x 11.1x 9.86x 8.97x
EV / EBIT 86.8x 61x 74.6x 40.7x 18.2x 13.4x 11.7x 9.9x
EV / FCF 36.2x 58.3x -62.8x 27.2x -97x 17.3x 22.5x 17.7x
FCF Yield 2.76% 1.72% -1.59% 3.68% -1.03% 5.78% 4.44% 5.63%
Dividend per Share 2 27 27 30 50 60 78.15 84.18 90.52
Rate of return 0.84% 1.01% 0.62% 1.05% 1.71% 2.74% 2.95% 3.17%
EPS 2 39.17 34.94 56.96 104.7 156 168.3 188.4 220.2
Distribution rate 68.9% 77.3% 52.7% 47.8% 38.5% 46.4% 44.7% 41.1%
Net sales 1 962,516 1,044,900 1,278,478 1,601,700 1,886,256 2,125,410 2,332,203 2,588,793
EBITDA 1 121,177 131,270 188,369 271,234 400,574 428,912 486,204 530,004
EBIT 1 63,795 73,000 120,580 211,600 331,925 355,651 409,667 480,314
Net income 1 75,958 67,000 109,188 200,700 295,756 310,870 347,495 403,431
Net Debt 1 -641,083 -680,384 -249,066 -545,467 -538,506 -499,986 -479,732 -519,886
Reference price 2 3,225.00 2,680.00 4,822.00 4,777.00 3,511.00 2,854.50 2,854.50 2,854.50
Nbr of stocks (in thousands) 1,916,055 1,916,724 1,917,160 1,917,452 1,877,212 1,847,654 - -
Announcement Date 27/04/21 27/04/22 27/04/23 25/04/24 25/04/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.98x2.24x11.14x2.75% 33.35B
29.43x11.08x22.26x0.66% 895B
25.86x6.02x16.39x2.17% 587B
24.65x6.75x13.55x3.05% 401B
18.04x4.39x10.87x3% 345B
24.8x5.16x14.3x1.69% 306B
21.41x5.76x14.24x2.81% 300B
27.37x4.79x14.99x2.88% 289B
25.26x6.39x11.37x2.67% 202B
20.59x6.26x11.33x2.19% 184B
Average 23.44x 5.89x 14.04x 2.39% 354.38B
Weighted average by Cap. 25.13x 7.02x 15.94x 2.08%

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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