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 5,755,005 - -
Change - -3.19% 115.58% 43.13% 21.9% 12.64% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 5,450,852 5,322,447 5,033,918
Change - -4.36% 101.05% 43.16% 15.6% 10.35% -2.36% -5.42%
P/E 9.93x 12x 19.6x 23.9x 19x 20x 17.5x 15.8x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.37x 2.16x 1.93x
PEG - -0.7x 0.6x 1.4x 0.3x 2.96x 1.2x 1.4x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.56x 1.49x 1.43x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.48x 1.37x 1.25x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 9.4x 8.24x 7.3x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 12.9x 11.1x 9.57x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 18x 17x 14.4x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 5.55% 5.89% 6.95%
Dividend per Share 2 20 22 24 28 38 42.74 47.71 52.52
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 0.99% 1.1% 1.21%
EPS 2 103.7 84.9 112.2 131.5 203 216.7 247.4 274.4
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 19.7% 19.3% 19.1%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,681,345 3,871,073 4,026,472
EBITDA 1 313,064 353,745 375,712 441,600 514,415 579,958 645,706 689,497
EBIT 1 132,525 170,447 188,012 256,500 359,913 422,007 479,978 525,847
Net income 1 141,277 114,500 149,521 175,183 270,228 288,853 329,142 364,182
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 4,333.00 4,333.00 4,333.00
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.($)
20.08x1.48x9.43x0.99% 35.58B
27.94x4.49x15.67x2.35% 270B
-91.57x14.47x83.76x-.--% 90.62B
10.05x1.1x5.78x4.8% 82.75B
13.42x2.44x9.2x6.12% 78.49B
19x5.01x12.36x2.99% 57.15B
13.87x2.02x8.47x5.61% 45.32B
19.09x1.53x9.63x1.5% 35.95B
15.86x2.03x9.43x5.45% 33.03B
Average 5.30x 3.84x 18.19x 3.31% 81.02B
Weighted average by Cap. 6.55x 4.61x 20.72x 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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