Company Valuation: DTS Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 120,697 140,384 172,448 156,255 163,648 173,187 - -
Change - 16.31% 22.84% -9.39% 4.73% 5.83% - -
Enterprise Value (EV) 73,377 96,054 133,048 125,737 133,082 173,187 173,187 173,187
Change - 30.9% 38.51% -5.5% 5.84% 30.14% 0% 0%
P/E 15.5x 17.7x 23.9x 15.7x 14.1x 14.8x 13.5x 12.4x
PBR 1.95x 2.29x 2.77x 2.77x 2.58x 2.67x 2.51x 2.35x
PEG - 3.54x -3.36x 0.3x 0.9x 5.33x 1.37x 1.42x
Capitalization / Revenue 1.28x 1.32x 1.49x 1.24x 1.21x 1.22x 1.17x 1.11x
EV / Revenue 0x 0x 0x 0x 0x 1.22x 1.17x 1.11x
EV / EBITDA 0x 0x - - - 9.57x 8.61x 7.91x
EV / EBIT 0x 0x 0x 0x 0x 10.2x 9.35x 8.62x
EV / FCF 0x 0x 0x 0x 0x 21x 18.1x 16.1x
FCF Yield 6.17% 5.18% 5.87% 4.39% 5.14% 4.75% 5.53% 6.21%
Dividend per Share 2 17.5 30 25.75 31.75 82 38 41.67 45.33
Rate of return 2.61% 3.73% 2.56% 3.18% 7.98% 3.42% 3.75% 4.08%
EPS 2 43.2 45.35 42.13 63.45 72.94 74.97 82.33 89.5
Distribution rate 40.5% 66.1% 61.1% 50% 112% 50.7% 50.6% 50.7%
Net sales 1 94,452 106,132 115,727 125,908 135,213 141,675 147,743 156,363
EBITDA 1 11,798 12,436 - - - 18,100 20,110 21,890
EBIT 1 11,196 11,694 12,508 14,489 16,434 17,050 18,517 20,093
Net income 1 7,853 8,001 7,293 10,635 11,644 11,657 12,730 13,770
Net Debt -47,320 -44,330 -39,400 -30,518 -30,566 - - -
Reference price 2 669.50 805.00 1,005.00 998.75 1,027.00 1,111.00 1,111.00 1,111.00
Nbr of stocks (in thousands) 180,280 174,390 171,591 156,451 159,345 155,884 - -
Announcement Date 28/04/22 28/04/23 26/04/24 01/05/25 01/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.54x3.69x12.88x2.95% 216B
-130.35x18.18x100.79x-.--% 117B
13.46x1.48x7.8x3.56% 111B
13.63x2.48x9.35x6.03% 79.37B
19.51x5.17x12.71x2.91% 58.38B
13.79x1.99x8.45x5.65% 44.37B
22.36x1.83x11.42x1.31% 43.97B
21.06x1.6x10.17x0.89% 40.66B
17.22x2.17x10.3x5.08% 35.23B
Average 1.47x 4.29x 20.43x 3.15% 82.93B
Weighted average by Cap. -4.86x 5.23x 24.92x 2.95%

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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