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 5,768,268 - -
Change - -3.19% 115.58% 43.13% 21.9% 12.9% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 5,464,116 5,335,710 5,047,181
Change - -4.36% 101.05% 43.16% 15.6% 10.62% -2.35% -5.41%
P/E 9.93x 12x 19.6x 23.9x 19x 20.2x 17.7x 15.9x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.39x 2.18x 1.94x
PEG - -0.7x 0.6x 1.4x 0.3x 3.18x 1.3x 1.5x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.57x 1.49x 1.44x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.48x 1.38x 1.26x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 9.47x 8.42x 7.46x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 13x 11.2x 9.66x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 18.1x 17x 14.4x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 5.54% 5.88% 6.93%
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% 0.98% 1.1% 1.21%
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 4,349.00 4,349.00 4,349.00
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.15x1.48x9.46x0.98% 35.62B
29.68x4.73x16.51x2.2% 288B
-92.02x14.54x84.19x-.--% 91.07B
10.56x1.16x6.08x4.57% 86.98B
13.49x2.45x9.1x6.14% 79.91B
19.36x5.09x12.56x2.94% 58.01B
13.92x2.03x8.51x5.59% 45.7B
19.35x1.55x9.76x1.48% 36.35B
15.91x2.04x9.47x5.43% 33.3B
19.71x2.29x14.9x3.05% 26.79B
Average 7.01x 3.74x 18.05x 3.24% 78.15B
Weighted average by Cap. 8.18x 4.62x 20.73x 2.94%

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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