Company Valuation: Keyence Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 13,290,446 14,612,193 17,289,660 14,777,076 14,328,389 19,474,766 - -
Change - 9.95% 18.32% -14.53% -3.04% 35.92% - -
Enterprise Value (EV) 1 12,285,874 13,671,735 16,156,884 13,557,842 12,834,500 17,724,363 17,528,052 17,266,340
Change - 11.28% 18.18% -16.09% -5.34% 38.1% -1.11% -1.49%
P/E 43.8x 40.3x 46.8x 37.1x 32.2x 38.2x 34.5x 30.8x
PBR 6.11x 5.86x 6.16x 4.75x 4.13x 5.11x 4.66x 4.2x
PEG - 2.1x 25.43x 4.73x 2.8x 2.7x 3.2x 2.6x
Capitalization / Revenue 17.6x 15.8x 17.9x 14x 12.3x 14.5x 13.2x 11.9x
EV / Revenue 16.3x 14.8x 16.7x 12.8x 11x 13.2x 11.9x 10.6x
EV / EBITDA 28.8x 26.8x 31.8x 24x 20.9x 24.4x 22.1x 19.5x
EV / EBIT 29.4x 27.4x 32.6x 24.7x 21.5x 25.4x 22.6x 20x
EV / FCF 47.2x 95x 111x 34.3x 108x 40.3x 36.5x 32.4x
FCF Yield 2.12% 1.05% 0.9% 2.91% 0.92% 2.48% 2.74% 3.09%
Dividend per Share 2 200 300 300 350 550 610.8 690 735.8
Rate of return 0.36% 0.5% 0.42% 0.57% 0.93% 0.76% 0.86% 0.92%
EPS 2 1,251 1,497 1,524 1,644 1,836 2,099 2,329 2,607
Distribution rate 16% 20% 19.7% 21.3% 30% 29.1% 29.6% 28.2%
Net sales 1 755,174 922,422 967,288 1,059,145 1,169,289 1,340,022 1,470,639 1,630,589
EBITDA 1 426,666 510,437 508,781 564,968 612,986 727,687 794,460 884,532
EBIT 1 418,045 498,914 495,014 549,775 595,759 699,160 774,673 863,821
Net income 1 303,360 362,963 369,642 398,656 445,185 508,550 563,160 628,533
Net Debt 1 -1,004,572 -940,458 -1,132,776 -1,219,234 -1,493,889 -1,750,404 -1,946,715 -2,208,427
Reference price 2 54,800.00 60,250.00 71,290.00 60,930.00 59,080.00 80,300.00 80,300.00 80,300.00
Nbr of stocks (in thousands) 242,526 242,526 242,526 242,525 242,525 242,525 - -
Announcement Date 27/04/22 27/04/23 25/04/24 25/04/25 24/04/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
38.3x13.25x24.39x0.76% 121B
63.14x9.23x44.41x1.18% 54.34B
33.33x1.57x17.88x-.--% 50.14B
30.47x2.48x11.92x1.09% 43.18B
38.01x2.36x16.89x1.42% 31.59B
32.17x4.87x19.42x-.--% 30.21B
9.23x5.32x10.24x2.13% 22.75B
34.49x5.3x21.19x0.66% 20.04B
41.65x2.17x19.74x0.41% 19.45B
24.41x0.87x9.73x0.32% 13.42B
Average 34.52x 4.74x 19.58x 0.8% 40.63B
Weighted average by Cap. 37.58x 6.88x 22.33x 0.79%

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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