Company Valuation: Nintendo Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 7,363,002 7,235,262 5,973,661 9,542,100 11,770,550 7,913,016 - -
Change - -1.73% -17.44% 59.74% 23.35% -32.77% - -
Enterprise Value (EV) 1 5,620,613 6,028,756 4,709,995 7,289,395 9,712,360 5,958,496 5,964,655 5,777,206
Change - 7.26% -21.87% 54.76% 33.24% -38.65% 0.1% -3.14%
P/E ratio 15.3x 15.2x 13.8x 19.4x 42.2x 24.1x 19.2x 15.5x
PBR 3.93x 3.5x 2.64x 3.66x 4.32x 3.42x 2.56x 2.37x
PEG - 43.5x -1.68x 1.4x -1x 0.5x 17.66x 0.7x
Capitalization / Revenue 4.19x 4.27x 3.73x 5.71x 10.1x 4.33x 3.36x 2.99x
EV / Revenue 3.2x 3.56x 2.94x 4.36x 8.34x 2.56x 2.53x 2.18x
EV / EBITDA 8.63x 9.99x 9.14x 13.3x 32.6x 15.6x 14.4x 10.8x
EV / EBIT 8.77x 10.2x 9.34x 13.8x 34.4x 15.8x 14.6x 10.7x
EV / FCF 9.46x 15.7x 26.4x 16.3x -1,400x 13x 17.7x 14.4x
FCF Yield 10.6% 6.36% 3.78% 6.12% -0.07% 7.71% 5.66% 6.94%
Dividend per Share 2 222 203 186 211 120 219 210.5 250.4
Rate of return 3.59% 3.29% 3.63% 2.57% 1.19% 2.5% 3.07% 3.65%
EPS 2 403.3 404.7 371.4 421.4 239.5 364.5 357.5 442.5
Distribution rate 55.1% 50.2% 50.1% 50.1% 50.1% 60.1% 58.9% 56.6%
Net sales 1 1,758,910 1,695,344 1,601,677 1,671,865 1,164,922 2,313,051 2,357,633 2,650,321
EBITDA 1 651,432 603,287 515,415 546,797 297,914 382,499 414,481 533,751
EBIT 1 640,634 592,760 504,375 528,941 282,553 360,117 407,786 540,027
Net income 1 480,376 477,691 432,768 490,602 278,806 424,056 411,218 506,518
Net Debt 1 -1,742,389 -1,206,506 -1,263,666 -2,252,705 -2,058,190 -1,954,520 -1,948,361 -2,135,810
Reference price 2 6,181.00 6,167.00 5,131.00 8,196.00 10,110.00 6,864.00 6,864.00 6,864.00
Nbr of stocks (in thousands) 1,191,232 1,173,222 1,164,229 1,164,239 1,164,248 1,152,829 - -
Announcement Date 06/05/21 10/05/22 09/05/23 07/05/24 08/05/25 08/05/26 - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.19x2.7x16.41x2.84% 52.15B
28.72x5.08x15.07x1.02% 17.31B
15.56x7.81x12.99x6.01% 6.47B
48.84x1.89x11.36x-.--% 3.2B
15.93x2.62x9.42x1.61% 1.88B
23.46x0.71x6.19x2.3% 1.56B
38.46x - - - 455M
Average 27.31x 3.47x 11.91x 2.3% 11.86B
Weighted average by Cap. 22.78x 3.53x 15.31x 2.56%

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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