Company Valuation: GMO internet group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 299,022 263,183 272,092 280,693 396,058 372,161 - -
Change - -11.99% 3.38% 3.16% 41.1% -6.03% - -
Enterprise Value (EV) 1 353,549 312,373 352,207 366,397 226,810 533,474 336,265 331,356
Change - -11.65% 12.75% 4.03% -38.1% 135.21% -36.97% -1.46%
P/E 17x 20x 19.2x 21.2x 24.9x 18.7x 15.5x 13.8x
PBR 4.05x 3.65x 3.3x 3.25x 3.87x 4.45x 3.89x 3.4x
PEG - -0.9x 2.34x -4.16x 1x 0.5x 0.7x 1.2x
Capitalization / Revenue 1.24x 1.07x 1.05x 1.01x 1.39x 1.2x 1.12x 1.03x
EV / Revenue 1.46x 1.27x 1.36x 1.32x 0.79x 1.72x 1.01x 0.91x
EV / EBITDA 6.99x 5.44x 6.28x 5.95x 3x 6.43x 3.56x 3.33x
EV / EBIT 8.6x 7.14x 8.29x 7.85x 3.97x 7.95x 4.26x 3.72x
EV / FCF -4.68x 11x -243x 27.7x 4.04x 11.6x 6.43x 5.54x
FCF Yield -21.4% 9.11% -0.41% 3.61% 24.8% 8.6% 15.5% 18.1%
Dividend per Share 2 52.7 47.6 44.1 41.8 52 78.2 84.98 95
Rate of return 1.94% 1.93% 1.72% 1.56% 1.33% 1.97% 2.14% 2.39%
EPS 2 159.7 123.2 133.3 126.5 157.6 212 256.4 286.8
Distribution rate 33% 38.6% 33.1% 33% 33% 36.9% 33.1% 33.1%
Net sales 1 241,446 245,696 258,643 277,407 285,626 310,358 333,023 362,845
EBITDA 1 50,613 57,412 56,051 61,607 75,651 83,000 94,500 99,600
EBIT 1 41,097 43,746 42,471 46,653 57,170 67,079 78,858 88,962
Net income 1 17,527 13,209 14,191 13,373 16,102 21,338 25,035 28,652
Net Debt 1 54,527 49,190 80,115 85,704 -169,248 161,313 -35,896 -40,805
Reference price 2 2,715.00 2,466.00 2,563.00 2,680.00 3,918.00 3,968.00 3,968.00 3,968.00
Nbr of stocks (in thousands) 110,137 106,725 106,161 104,736 101,087 93,791 - -
Announcement Date 10/02/22 13/02/23 13/02/24 12/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.71x1.72x6.43x1.97% 2.36B
16.65x8.13x17.36x0.25% 4,184B
23.36x7.38x12.98x0.29% 1,855B
28.25x13.25x20.94x0.64% 484B
14.53x3.88x8.97x1.4% 483B
18.71x5.55x16.66x-.--% 279B
20.59x1.49x10.26x1.03% 263B
94.21x12.39x66.51x-.--% 195B
21.41x2.45x12.44x-.--% 139B
3.08x86.09x2.34x0.13% 114B
Average 25.95x 14.23x 17.49x 0.57% 799.73B
Weighted average by Cap. 20.76x 8.81x 16.69x 0.36%

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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