Company Valuation: Mitsubishi Electric Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,618,025 2,977,377 3,332,868 5,245,533 5,644,895 11,897,470 - -
Change - -17.71% 11.94% 57.39% 7.61% 110.77% - -
Enterprise Value (EV) 1 3,216,050 2,579,659 3,087,756 4,874,785 5,248,225 11,335,969 11,417,427 11,211,415
Change - -19.79% 19.7% 57.87% 7.66% 116% 0.72% -1.8%
P/E ratio 18.7x 14.8x 15.6x 18.5x 17.5x 33x 26.6x 24.6x
PBR 1.31x 1x 1.03x 1.4x 1.43x 2.9x 2.75x 2.59x
PEG - 2.48x 2.53x 0.5x 1.2x 2.5x 1.1x 2.94x
Capitalization / Revenue 0.86x 0.67x 0.67x 1x 1.02x 2.08x 1.99x 1.91x
EV / Revenue 0.77x 0.58x 0.62x 0.93x 0.95x 1.98x 1.91x 1.8x
EV / EBITDA 7.13x 5.57x 6.16x 9.04x 8.56x 18x 14.3x 13.4x
EV / EBIT 14x 10.2x 11.8x 14.8x 13.4x 27.3x 20.5x 18.7x
EV / FCF 8.62x 15.4x 170x 15.2x 19.9x 49x 36.3x 28.9x
FCF Yield 11.6% 6.49% 0.59% 6.59% 5.03% 2.04% 2.76% 3.46%
Dividend per Share 2 36 40 40 50 50 55.71 65.93 71.09
Rate of return 2.13% 2.84% 2.53% 1.99% 1.84% 0.96% 1.13% 1.22%
EPS 2 90.03 95.41 101.3 135.7 155.7 176 218.4 236.7
Distribution rate 40% 41.9% 39.5% 36.8% 32.1% 31.7% 30.2% 30%
Net sales 1 4,191,400 4,476,700 5,003,600 5,257,914 5,521,711 5,730,853 5,988,276 6,213,677
EBITDA 1 451,341 462,944 501,207 539,207 613,278 630,208 798,897 837,691
EBIT 1 230,100 252,000 262,300 328,525 391,850 414,686 557,230 600,743
Net income 1 193,100 203,400 213,900 284,949 324,084 360,430 445,541 479,234
Net Debt 1 -401,975 -397,718 -245,112 -370,748 -396,670 -561,501 -480,043 -686,055
Reference price 2 1,686.50 1,410.00 1,578.50 2,512.00 2,720.00 5,814.00 5,814.00 5,814.00
Nbr of stocks (in thousands) 2,145,286 2,111,615 2,111,415 2,088,190 2,075,329 2,046,348 - -
Announcement Date 28/04/21 28/04/22 28/04/23 26/04/24 28/04/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.04x1.98x17.99x0.96% 77.61B
23.88x - - -.--% 1,078B
31.54x2.42x16.81x0.87% 166B
28.48x4.71x19.4x1.91% 154B
62.3x3.58x30.49x0.49% 112B
20.38x3.93x13.51x1.73% 91.04B
28.5x5.87x20.37x2.07% 86.47B
14.66x0.87x5.47x3.01% 22.5B
23.91x1.61x8.81x3.63% 20.75B
Average 29.63x 3.12x 16.61x 1.63% 200.95B
Weighted average by Cap. 27.68x 3.56x 19.01x 0.58%

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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