Company Valuation: Nipro Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 167,011 166,195 199,874 221,565 253,125 253,062 - -
Change - -0.49% 20.26% 10.85% 14.24% -0.02% - -
Enterprise Value (EV) 1 636,521 672,257 730,303 745,971 796,341 753,972 742,272 716,822
Change - 5.61% 8.63% 2.15% 6.75% -5.32% -1.55% -3.43%
P/E 12.4x 36.3x 18x 43.3x 18.7x 15.7x 11.9x 9.71x
PBR 0.9x 0.81x 0.86x 0.88x 0.92x 0.89x 0.84x 0.79x
PEG - -0.6x 0x -0.8x 0x 0.9x 0.4x 0.4x
Capitalization / Revenue 0.34x 0.3x 0.34x 0.34x 0.38x 0.36x 0.35x 0.33x
EV / Revenue 1.29x 1.23x 1.24x 1.16x 1.21x 1.08x 1.02x 0.94x
EV / EBITDA 9.09x 10.1x 8.99x 8.09x 7.86x 7.18x 6.49x 5.78x
EV / EBIT 26.7x 37.9x 32.7x 28x 21.2x 18.9x 16.1x 13.7x
EV / FCF -62.3x -11x -24x -218x -48.4x 36.4x 43.6x 30.7x
FCF Yield -1.61% -9.12% -4.17% -0.46% -2.06% 2.75% 2.29% 3.25%
Dividend per Share 2 27 22 25 25 29 36 45 56
Rate of return 2.64% 2.16% 2.04% 1.84% 1.87% 2.36% 2.96% 3.68%
EPS 2 82.5 28.05 68.12 31.36 82.8 96.9 128 156.9
Distribution rate 32.7% 78.4% 36.7% 79.7% 35% 37.2% 35.2% 35.7%
Net sales 1 494,789 545,199 586,785 644,586 660,538 701,066 728,812 760,969
EBITDA 1 70,046 66,472 81,207 92,246 101,361 105,023 114,303 124,083
EBIT 1 23,882 17,729 22,335 26,598 37,624 39,981 46,073 52,136
Net income 1 13,455 4,574 11,109 5,113 13,504 15,393 19,953 24,140
Net Debt 1 469,510 506,062 530,429 524,406 543,216 500,910 489,210 463,760
Reference price 2 1,024.00 1,019.00 1,225.50 1,358.50 1,552.00 1,522.50 1,522.50 1,522.50
Nbr of stocks (in thousands) 163,097 163,097 163,096 163,096 163,096 166,215 - -
Announcement Date 11/05/22 11/05/23 10/05/24 12/05/25 12/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.64x1.08x7.23x2.32% 1.61B
31.25x4.22x16.23x2.36% 188B
20.48x3.6x12.83x3.13% 118B
18.12x0.21x13.2x0.72% 63.16B
30.51x7.53x19.44x1.31% 52.01B
36.06x3.47x11.88x2.1% 50.97B
36.13x6.36x19.96x-.--% 34.02B
46.08x1.3x12.07x0.17% 30.8B
39.49x6.91x24.81x0.27% 23.83B
19.29x3.02x10.82x1.46% 23.45B
Average 29.31x 3.77x 14.85x 1.38% 58.62B
Weighted average by Cap. 28.90x 3.92x 15.23x 1.85%

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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