Company Valuation: Iwatani Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 297,376 333,069 491,419 343,948 461,507 488,662 - -
Change - 12% 47.54% -30.01% 34.18% 5.88% - -
Enterprise Value (EV) 1 378,376 438,534 711,747 547,471 678,703 709,996 717,596 723,696
Change - 15.9% 62.3% -23.08% 23.97% 4.61% 1.07% 0.85%
P/E 9.92x 10.4x 10.4x 8.5x 9.68x 9.48x 9.97x 9.17x
PBR 1.1x 1.1x 1.36x 0.89x 1.06x 1.03x 0.95x 0.88x
PEG - 1.52x 0.2x -0.6x 0.5x 1.16x -2.03x 1.05x
Capitalization / Revenue 0.43x 0.37x 0.58x 0.39x 0.51x 0.51x 0.51x 0.49x
EV / Revenue 0.55x 0.48x 0.84x 0.62x 0.75x 0.74x 0.75x 0.73x
EV / EBITDA 6.18x 6.83x 9.28x 7.39x - 7.78x 7.83x 7.28x
EV / EBIT 9.44x 11x 14.1x 11.8x 17.7x 13.9x 13.8x 12.8x
EV / FCF -20.1x -49.7x 108x -91.3x 19.2x 57.7x 42.2x 39.6x
FCF Yield -4.99% -2.01% 0.93% -1.1% 5.21% 1.73% 2.37% 2.52%
Dividend per Share 2 21.25 23.75 32.5 47 47 47.6 49.2 51.75
Rate of return 1.64% 1.64% 1.52% 3.14% 2.34% 2.24% 2.32% 2.44%
EPS 2 130.2 139.2 205.8 175.8 207.1 224.1 213.1 231.6
Distribution rate 16.3% 17.1% 15.8% 26.7% 22.7% 21.2% 23.1% 22.3%
Net sales 1 690,392 906,261 847,888 883,011 908,522 958,260 958,820 990,675
EBITDA 1 61,187 64,250 76,667 74,105 - 91,300 91,625 99,433
EBIT 1 40,076 40,035 50,635 46,228 38,318 50,960 52,020 56,350
Net income 1 29,964 32,022 47,363 40,448 47,666 50,200 49,520 53,300
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 2,124.50 2,124.50 2,124.50
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.48x0.74x7.78x2.24% 3.09B
13.98x1.66x7.07x2.57% 663B
19.45x1.6x9.38x0.47% 176B
7.27x0.58x2.66x4.62% 114B
6.83x0.79x4.85x1.05% 109B
7.51x0.73x4.96x1.29% 108B
8.76x0.7x6.36x1.98% 102B
10.57x0.34x5.2x6.67% 89.93B
9.65x1.89x4.83x2.53% 79.46B
11.83x1.46x7.71x1.96% 60.27B
Average 10.53x 1.05x 6.08x 2.54% 150.58B
Weighted average by Cap. 12.25x 1.30x 6.44x 2.46%

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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