Company Valuation: Kao Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,852,283 2,442,686 2,696,205 2,967,136 2,831,960 3,381,985 - -
Change - -14.36% 10.38% 10.05% -4.56% 19.42% - -
Enterprise Value (EV) 1 2,643,951 2,302,274 2,543,022 2,740,482 2,751,820 3,177,095 3,163,713 3,118,878
Change - -12.92% 10.46% 7.76% 0.41% 15.45% -0.42% -1.42%
P/E 26.1x 28.7x 61.5x 27.5x 24.1x 24.4x 23.1x 21.3x
PBR 2.96x 2.51x 2.74x 2.78x 2.66x 2.98x 2.87x 2.69x
PEG - -1.4x -1.3x 0x 2x 1.4x 4.08x 2.52x
Capitalization / Revenue 2.01x 1.57x 1.76x 1.82x 1.68x 1.9x 1.83x 1.77x
EV / Revenue 1.86x 1.48x 1.66x 1.68x 1.63x 1.79x 1.71x 1.64x
EV / EBITDA 11.5x 11.5x 17x 11.7x 11x 11.4x 10.9x 10.1x
EV / EBIT 18.4x 20.9x 42.4x 18.7x 16.8x 16.9x 15.9x 14.5x
EV / FCF 24.4x - 23.3x 25.4x 27.9x 24.9x 23.4x 21.2x
FCF Yield 4.1% - 4.3% 3.94% 3.58% 4.02% 4.27% 4.72%
Dividend per Share 2 72 74 75 76 77 78.08 79.29 80.41
Rate of return 2.39% 2.82% 2.59% 2.38% 2.46% 2.09% 2.12% 2.15%
EPS 2 115.3 91.64 47.18 116 130.2 153.1 161.7 175.4
Distribution rate 62.4% 80.8% 159% 65.5% 59.2% 51% 49% 45.8%
Net sales 1 1,418,768 1,551,059 1,532,579 1,628,448 1,688,633 1,775,980 1,847,218 1,906,065
EBITDA 1 230,851 199,809 149,630 235,066 249,910 279,004 290,241 307,388
EBIT 1 143,510 110,071 60,035 146,644 164,069 187,525 199,591 215,363
Net income 1 109,636 86,038 43,870 107,767 120,081 133,915 145,065 156,134
Net Debt 1 -208,332 -140,412 -153,183 -226,654 -80,140 -204,890 -218,273 -263,107
Reference price 2 3,009.50 2,627.50 2,900.00 3,194.00 3,130.50 3,738.00 3,738.00 3,738.00
Nbr of stocks (in thousands) 947,760 929,661 929,726 928,972 904,635 904,758 - -
Announcement Date 03/02/22 02/02/23 07/02/24 06/02/25 05/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.42x1.79x11.39x2.09% 21.28B
21.21x4.11x14.98x3.01% 340B
17.88x2.72x12.02x3.52% 135B
25.33x3.78x15.9x2.28% 74.26B
43.29x6.98x30.27x2.13% 51.42B
20.01x2.8x11.74x4.45% 36.55B
84.32x2.49x14.98x1.61% 31.54B
16.21x1.56x8.86x3.26% 20.06B
21.02x1.36x8.68x1.24% 20B
44.19x6.23x30.48x1.65% 11.08B
Average 31.79x 3.38x 15.93x 2.52% 74.16B
Weighted average by Cap. 25.47x 3.71x 15.23x 2.89%

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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