Company Valuation: HORIBA, Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 285,254 241,976 466,235 383,949 670,256 832,027 - -
Change - -15.17% 92.68% -17.65% 74.57% 24.14% - -
Enterprise Value (EV) 1 228,403 167,827 391,854 302,019 572,172 731,457 729,527 705,920
Change - -26.52% 133.49% -22.93% 89.45% 27.84% -0.26% -3.24%
P/E 13.4x 7.1x 11.6x 11.4x 18.1x 15.9x 13.1x 11.7x
PBR 1.4x 1.01x 1.65x 1.22x 1.93x 2.19x 2x 1.81x
PEG - 0.1x 0.6x -0.7x 1.7x 0.4x 0.6x 1x
Capitalization / Revenue 1.27x 0.9x 1.6x 1.21x 2.01x 2.14x 1.91x 1.77x
EV / Revenue 1.02x 0.62x 1.35x 0.95x 1.72x 1.88x 1.68x 1.5x
EV / EBITDA 5.42x 2.96x 6.6x 4.95x 8.64x 8.27x 6.89x 6x
EV / EBIT 7.13x 3.66x 8.29x 6.25x 10.8x 9.91x 8.1x 6.79x
EV / FCF 11.1x 7.23x 42x 14.4x 21.2x 28.7x 24.7x 11.5x
FCF Yield 9.02% 13.8% 2.38% 6.93% 4.71% 3.49% 4.05% 8.72%
Dividend per Share 2 150 245 290 270 450 762 618.3 690
Rate of return 2.22% 4.28% 2.63% 2.95% 2.82% 3.85% 3.12% 3.48%
EPS 2 505 807.1 953.7 799.4 883.5 1,246 1,516 1,694
Distribution rate 29.7% 30.4% 30.4% 33.8% 50.9% 61.2% 40.8% 40.7%
Net sales 1 224,314 270,133 290,558 317,369 333,081 389,484 435,146 469,790
EBITDA 1 42,109 56,754 59,393 60,993 66,220 88,467 105,954 117,624
EBIT 1 32,046 45,843 47,296 48,340 53,040 73,810 90,059 103,979
Net income 1 21,311 34,072 40,302 33,591 37,090 52,363 63,713 71,221
Net Debt 1 -56,851 -74,149 -74,381 -81,930 -98,084 -100,570 -102,499 -126,107
Reference price 2 6,760.00 5,730.00 11,030.00 9,152.00 15,960.00 19,800.00 19,800.00 19,800.00
Nbr of stocks (in thousands) 42,197 42,230 42,270 41,952 41,996 42,022 - -
Announcement Date 14/02/22 14/02/23 14/02/24 13/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.94x1.75x7.7x4.09% 4.95B
30.8x5.27x18.77x0.86% 121B
31.06x4.86x18.54x1.72% 89.35B
30.46x3.5x20.06x0.68% 67.77B
42.88x6.71x29.54x1.79% 62.61B
33.11x6.85x20.04x-.--% 49.2B
22.7x1.95x14.04x2.07% 33.02B
24.48x4.48x16.91x0.09% 33.36B
22.04x4.19x14.41x2.71% 31.24B
23.45x3.39x14.59x1% 28.33B
Average 27.59x 4.29x 17.46x 1.5% 52B
Weighted average by Cap. 30.48x 4.83x 19.30x 1.19%

Y-o-Y evolution of P/E

Valuation ratios - P/E - HORIBA, Ltd.

Historical PBR trend

Valuation ratios - PBR - HORIBA, Ltd.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - HORIBA, Ltd.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - HORIBA, Ltd.


Year-on-year evolution of the Yield

Valuation ratios - Yield - HORIBA, Ltd.
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