Company Valuation: Iwatani Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 297,376 333,069 491,419 343,948 461,507 511,795 - -
Change - 12% 47.54% -30.01% 34.18% 10.9% - -
Enterprise Value (EV) 1 378,376 438,534 711,747 547,471 678,703 733,129 740,729 746,829
Change - 15.9% 62.3% -23.08% 23.97% 8.02% 1.04% 0.82%
P/E 9.92x 10.4x 10.4x 8.5x 9.68x 10.1x 10.5x 9.75x
PBR 1.1x 1.1x 1.36x 0.89x 1.06x 1.09x 1x 0.92x
PEG - 1.52x 0.2x -0.6x 0.5x 1.5x -2.28x 1.19x
Capitalization / Revenue 0.43x 0.37x 0.58x 0.39x 0.51x 0.53x 0.53x 0.51x
EV / Revenue 0.55x 0.48x 0.84x 0.62x 0.75x 0.76x 0.77x 0.75x
EV / EBITDA 6.18x 6.83x 9.28x 7.39x - 8.12x 8.11x 7.58x
EV / EBIT 9.44x 11x 14.1x 11.8x 17.7x 14.6x 14.3x 13.4x
EV / FCF -20.1x -49.7x 108x -91.3x 19.2x 71.2x 45.4x 40.9x
FCF Yield -4.99% -2.01% 0.93% -1.1% 5.21% 1.4% 2.21% 2.45%
Dividend per Share 2 21.25 23.75 32.5 47 47 47.6 49.2 51.25
Rate of return 1.64% 1.64% 1.52% 3.14% 2.34% 2.14% 2.21% 2.3%
EPS 2 130.2 139.2 205.8 175.8 207.1 221 210.8 228.1
Distribution rate 16.3% 17.1% 15.8% 26.7% 22.7% 21.5% 23.3% 22.5%
Net sales 1 690,392 906,261 847,888 883,011 908,522 963,260 967,620 1,001,800
EBITDA 1 61,187 64,250 76,667 74,105 - 90,333 91,350 98,567
EBIT 1 40,076 40,035 50,635 46,228 38,318 50,380 51,800 55,700
Net income 1 29,964 32,022 47,363 40,448 47,666 49,500 49,000 52,500
Net Debt 1 81,000 105,465 220,328 203,523 217,196 221,334 228,934 235,034
Reference price 2 1,292.50 1,447.50 2,135.50 1,494.50 2,005.00 2,223.50 2,223.50 2,223.50
Nbr of stocks (in thousands) 230,078 230,100 230,119 230,143 230,178 230,175 - -
Announcement Date 13/05/22 15/05/23 13/05/24 14/05/25 14/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.06x0.76x8.12x2.14% 3.2B
13.68x1.64x7.05x2.65% 644B
20.08x1.65x9.64x0.46% 182B
7.11x0.56x2.61x4.89% 108B
7.3x0.78x5.19x1.11% 104B
8.62x0.7x5.36x1.38% 101B
9.26x0.67x6.82x2.08% 97.37B
11.64x0.34x5.34x6.15% 93.17B
9.18x1.8x4.64x2.66% 76.68B
12.05x1.45x7.95x1.89% 63.12B
Average 10.90x 1.03x 6.27x 2.54% 147.3B
Weighted average by Cap. 12.46x 1.29x 6.59x 2.5%

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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