Company Valuation: NOF Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 413,070 499,336 498,345 474,805 702,176 623,563 - -
Change - 20.88% -0.2% -4.72% 47.89% -11.2% - -
Enterprise Value (EV) 1 333,269 411,659 411,766 392,055 618,951 560,566 545,417 528,121
Change - 23.52% 0.03% -4.79% 57.87% -9.43% -2.7% -3.17%
P/E 15.5x 14.8x 14.8x 13.1x 17.6x 15.2x 13.2x 12.5x
PBR 1.87x 2.08x 1.88x 1.69x 2.38x 2.03x 1.85x 1.74x
PEG - 0.5x 9.51x 1.46x 1.2x 4.97x 0.9x 2.23x
Capitalization / Revenue 2.14x 2.29x 2.24x 1.99x 2.72x 2.04x 1.91x 2.02x
EV / Revenue 1.73x 1.89x 1.85x 1.65x 2.4x 1.83x 1.67x 1.71x
EV / EBITDA 8.03x 8.76x 8.39x 7.36x 8.9x 5.17x 4.62x 6.31x
EV / EBIT 9.36x 10.1x 9.77x 8.65x 13.1x 10.7x 9.07x 8.91x
EV / FCF 17.9x 18.2x 36.5x 37x - 40.3x 23.9x 12.3x
FCF Yield 5.59% 5.5% 2.74% 2.7% - 2.48% 4.18% 8.16%
Dividend per Share 2 30 36 38 45 61 67.75 72 77.5
Rate of return 1.79% 1.75% 1.82% 2.23% 1.97% 2.45% 2.61% 2.81%
EPS 2 107.9 139 141.2 153.9 176.3 181.7 209.6 221.4
Distribution rate 27.8% 25.9% 26.9% 29.2% 34.6% 37.3% 34.3% 35%
Net sales 1 192,642 217,709 222,252 238,310 257,967 306,400 326,083 309,000
EBITDA 1 41,504 46,983 49,081 53,273 69,527 108,325 117,975 83,700
EBIT 1 35,595 40,624 42,142 45,308 47,411 52,500 60,150 59,250
Net income 1 26,690 33,973 33,990 36,497 40,550 41,143 46,567 46,600
Net Debt 1 -79,801 -87,677 -86,579 -82,750 -83,225 -62,998 -78,146 -95,442
Reference price 2 1,673.33 2,056.67 2,085.50 2,020.00 3,101.00 2,762.00 2,762.00 2,762.00
Nbr of stocks (in thousands) 246,855 242,789 238,957 235,052 226,435 225,765 - -
Announcement Date 11/05/22 11/05/23 09/05/24 09/05/25 11/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.2x1.83x5.17x2.45% 3.98B
26.99x4.25x13.68x2.13% 125B
34.66x1.22x7.56x6.67% 40.69B
15.04x4.49x30.98x2.62% 40.25B
12.78x1.23x7x2.39% 34.89B
10.31x3.06x7.83x4.27% 24.66B
8.79x0.85x5.29x4.69% 19.58B
16.83x - - - 18.56B
17.27x0.76x6.1x1.26% 17.37B
69.34x12.33x45.67x0.08% 17.71B
Average 22.72x 3.34x 14.36x 2.95% 34.24B
Weighted average by Cap. 23.82x 3.50x 14.62x 2.95%

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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