Company Valuation: Otsuka Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 1,033,327 1,040,911 787,793 1,102,150 1,368,537 1,184,625 1,184,625 -
Change - 0.73% -24.32% 39.9% 24.17% -13.44% 0% -
Enterprise Value (EV) 1 861,755 844,195 593,018 880,762 1,147,262 936,823 934,892 903,491
Change - -2.04% -29.75% 48.52% 30.26% -18.34% -0.21% -3.36%
P/E ratio 26.3x 26.1x 19.7x 23.2x 25.6x 19.1x 19x 17.7x
PBR 3.73x 3.48x 2.47x 3.21x 3.69x 3.11x 2.77x 2.59x
PEG - 16.6x 82.97x 1.3x 2x 0.9x 22.25x 2.3x
Capitalization / Revenue 1.24x 1.22x 0.91x 1.13x 1.24x 0.93x 0.92x 0.88x
EV / Revenue 1.03x 0.99x 0.69x 0.9x 1.04x 0.72x 0.73x 0.67x
EV / EBITDA 13.5x 13.2x 9.4x 12.4x 13.9x 9.65x 9.25x 8.58x
EV / EBIT 15.3x 15.1x 10.8x 14x 15.4x 10.6x 10.5x 9.42x
EV / FCF 36.5x 18x 26.8x 17.6x 44.5x 18.1x 13.1x 13.8x
FCF Yield 2.74% 5.57% 3.73% 5.7% 2.25% 5.54% 7.63% 7.25%
Dividend per Share 2 57.5 60 62.5 67.5 80 90 93 98.22
Rate of return 2.11% 2.19% 3.01% 2.32% 2.22% 2.78% 2.98% 3.14%
EPS 2 103.7 105.3 105.5 125.1 141 169.6 164.1 176.7
Distribution rate 55.5% 57% 59.2% 53.9% 56.7% 53.1% 56.7% 55.6%
Net sales 1 836,323 851,894 861,022 977,370 1,107,668 1,322,791 1,285,722 1,341,918
EBITDA 1 63,912 63,809 63,058 70,893 82,794 99,283 101,034 105,256
EBIT 1 56,309 55,827 54,768 62,959 74,360 89,943 88,783 95,872
Net income 1 39,309 39,927 40,022 47,448 53,481 64,303 62,223 67,019
Net Debt 1 -171,572 -196,716 -194,775 -221,388 -221,275 -247,801 -249,733 -281,134
Reference price 2 2,725.00 2,745.00 2,077.50 2,906.50 3,609.00 3,124.00 3,124.00 3,124.00
Nbr of stocks (in thousands) 379,202 379,202 379,202 379,202 379,201 379,201 379,201 -
Announcement Date 01/02/21 01/02/22 01/02/23 01/02/24 03/02/25 02/02/26 - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.2x0.72x9.65x2.77% 7.73B
26.42x8.77x15.73x1.04% 24.22B
21.9x3.87x9.78x1.43% 17.79B
16.89x0.54x4.75x1.78% 9.17B
24.75x1.59x11.7x2.01% 4.74B
13.04x1.21x6.39x1.48% 4.16B
83.37x4.94x60.86x0.4% 3.94B
43.34x1.91x37.76x0.11% 2.8B
Average 31.12x 2.94x 19.58x 1.38% 9.32B
Weighted average by Cap. 26.22x 4.41x 14.76x 1.42%

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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