Company Valuation: NEC Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,403,157 1,358,384 2,928,366 4,191,365 5,109,408 5,528,200 - -
Change - -3.19% 115.58% 43.13% 21.9% 8.2% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 5,224,047 5,095,642 4,807,113
Change - -4.36% 101.05% 43.16% 15.6% 5.76% -2.46% -5.66%
P/E 9.93x 12x 19.6x 23.9x 19x 19.3x 16.9x 15.3x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.29x 2.09x 1.86x
PEG - -0.7x 0.6x 1.4x 0.3x 3.04x 1.2x 1.4x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.5x 1.43x 1.38x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.42x 1.32x 1.2x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 9.05x 8.04x 7.11x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 12.4x 10.7x 9.2x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 17.3x 16.2x 13.7x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 5.79% 6.16% 7.27%
Dividend per Share 2 20 22 24 28 38 42.74 47.71 52.77
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 1.03% 1.14% 1.27%
EPS 2 103.7 84.9 112.2 131.5 203 215.8 246 272.9
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 19.8% 19.4% 19.3%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,679,544 3,866,068 4,003,390
EBITDA 1 313,064 353,745 375,712 441,600 514,415 577,188 633,599 676,402
EBIT 1 132,525 170,447 188,012 256,500 359,913 420,660 476,587 522,308
Net income 1 141,277 114,500 149,521 175,183 270,228 287,698 327,179 361,140
Net Debt 1 149,044 126,187 56,425 81,744 -169,819 -304,152 -432,558 -721,087
Reference price 2 1,030.00 1,020.00 2,198.00 3,145.00 3,846.00 4,168.00 4,168.00 4,168.00
Nbr of stocks (in thousands) 1,362,288 1,331,749 1,332,286 1,332,707 1,328,499 1,326,344 - -
Announcement Date 28/04/22 28/04/23 26/04/24 28/04/25 28/04/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.31x1.42x9.05x1.03% 34.28B
28.15x4.51x15.75x2.33% 272B
-91.12x14.39x83.34x-.--% 90.17B
10.21x1.12x5.88x4.73% 84.05B
13.47x2.45x9.09x6.14% 79.55B
18.39x4.85x11.97x3.1% 54.92B
13.54x1.98x8.33x5.73% 44.51B
13.19x1.51x10.36x1.22% 35.78B
15.52x1.98x9.21x5.57% 32.37B
19.8x2.3x14.97x3.03% 26.93B
Average 6.05x 3.65x 17.79x 3.29% 75.47B
Weighted average by Cap. 6.83x 4.50x 20.44x 3.03%

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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