Company Valuation: Kaneka Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 231,272 224,812 247,581 239,651 288,782 364,524 - -
Change - -2.79% 10.13% -3.2% 20.5% 26.23% - -
Enterprise Value (EV) 1 317,939 358,887 398,707 417,070 469,122 550,178 571,595 590,081
Change - 12.88% 11.1% 4.61% 12.48% 17.28% 3.89% 3.23%
P/E 8.73x 9.87x 10.7x 9.5x 9.57x 12.3x 11.6x 10.9x
PBR 0.6x 0.54x 0.54x 0.51x 0.58x 0.75x 0.7x 0.65x
PEG - -0.7x 4.5x 0.8x 0.4x -8.95x 1.95x 1.65x
Capitalization / Revenue 0.33x 0.3x 0.32x 0.3x 0.36x 0.42x 0.41x 0.4x
EV / Revenue 0.46x 0.47x 0.52x 0.52x 0.58x 0.64x 0.64x 0.65x
EV / EBITDA 3.9x 4.81x 5.44x 4.97x 5.84x 6.16x 6.08x 5.86x
EV / EBIT 7.3x 10.2x 12.2x 10.4x 14.3x 13.6x 12.6x 11.7x
EV / FCF -57.9x -27.1x 127x - 19.5x 38.7x 67.2x 80.3x
FCF Yield -1.73% -3.69% 0.79% - 5.12% 2.58% 1.49% 1.25%
Dividend per Share 2 110 110 110 130 160 196 202 216.7
Rate of return 3.1% 3.19% 2.88% 3.41% 3.34% 3.23% 3.33% 3.57%
EPS 2 406 349.6 357.9 400.9 501.3 494.4 523.8 558.4
Distribution rate 27.1% 31.5% 30.7% 32.4% 31.9% 39.6% 38.6% 38.8%
Net sales 1 691,530 755,821 762,302 807,200 811,638 864,800 887,320 912,500
EBITDA 1 81,515 74,543 73,358 83,987 80,321 89,381 94,040 100,767
EBIT 1 43,562 35,087 32,579 40,050 32,894 40,589 45,280 50,500
Net income 1 26,487 23,008 23,220 25,309 30,977 29,149 30,649 31,167
Net Debt 1 86,667 134,075 151,126 177,419 180,340 185,655 207,071 225,557
Reference price 2 3,545.00 3,450.00 3,814.00 3,808.00 4,795.00 6,061.00 6,061.00 6,061.00
Nbr of stocks (in thousands) 65,239 65,163 64,914 62,934 60,226 60,142 - -
Announcement Date 12/05/22 12/05/23 14/05/24 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.($)
12.46x0.64x6.22x3.18% 2.38B
19.06x3.37x9.54x2.08% 68.77B
12.37x0.94x7.82x4.35% 51.76B
55.28x8.86x37.73x0.99% 16.49B
12.99x0.86x6.05x2.8% 13.93B
12.43x0.75x4.85x2.75% 10.61B
15.85x0.72x7.77x3.11% 10.08B
36.5x1.67x8.82x2.08% 9.15B
4.65x0.66x2.76x4.78% 8.91B
31.51x4.31x18.46x0.37% 7.85B
Average 21.31x 2.28x 11.00x 2.65% 19.99B
Weighted average by Cap. 19.94x 2.55x 10.81x 2.78%

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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