Company Valuation: SG Holdings Co.,Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,611,566 1,468,702 1,235,222 1,190,265 935,703 895,150 - -
Change - -8.86% -15.9% -3.64% -21.39% -4.33% - -
Enterprise Value (EV) 1 1,666,170 1,516,595 1,154,210 1,127,796 935,703 1,122,391 1,147,683 1,153,813
Change - -8.98% -23.89% -2.29% -17.03% 19.95% 2.25% 0.53%
P/E ratio 21.7x 13.8x 9.82x 20.5x 16.1x 15.1x 14x 13.1x
PBR 4.05x 2.96x 2.23x 2.06x 1.61x 1.66x 1.59x 1.51x
PEG - 0.3x 0.5x -0.4x -249.5x 2.39x 1.7x 1.98x
Capitalization / Revenue 1.23x 0.92x 0.86x 0.9x 0.63x 0.55x 0.52x 0.5x
EV / Revenue 1.27x 0.95x 0.8x 0.86x 0.63x 0.68x 0.67x 0.65x
EV / EBITDA 13.1x 8.15x 6.88x 9.09x 7.12x 8.12x 7.88x 7.58x
EV / EBIT 16.4x 9.74x 8.53x 12.6x 10.7x 12.1x 11.8x 11.2x
EV / FCF 34x 41.5x 8.4x 43.6x -9.99x -5.27x 33.4x 26.8x
FCF Yield 2.94% 2.41% 11.9% 2.29% -10% -19% 2.99% 3.73%
Dividend per Share 2 35 50 51 51 52 53 54 55.11
Rate of return 1.38% 2.16% 2.6% 2.68% 3.48% 3.55% 3.61% 3.69%
EPS 2 117 168 199.6 92.98 92.92 98.78 106.9 114
Distribution rate 29.9% 29.8% 25.6% 54.9% 56% 53.7% 50.5% 48.4%
Net sales 1 1,312,085 1,588,375 1,434,609 1,316,940 1,479,239 1,641,027 1,718,365 1,773,271
EBITDA 1 127,591 186,057 167,716 124,021 131,400 138,243 145,608 152,121
EBIT 1 101,726 155,713 135,275 89,204 87,847 92,509 97,571 103,114
Net income 1 74,342 106,733 126,511 58,279 58,120 59,213 62,975 67,234
Net Debt 1 54,604 47,893 -81,012 -62,469 - 227,240 252,533 258,663
Reference price 2 2,537.00 2,312.00 1,960.00 1,903.00 1,496.00 1,494.00 1,494.00 1,494.00
Nbr of stocks (in thousands) 635,225 635,252 630,215 625,468 625,470 599,163 - -
Announcement Date 30/04/21 28/04/22 28/04/23 30/04/24 09/05/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.9x0.68x8.02x3.6% 5.57B
16.38x1.26x9.17x6.1% 91.12B
18.91x0.97x8.54x1.83% 73.72B
15.52x0.9x6.88x3.91% 62.35B
27.5x1.88x18.64x0.93% 21.74B
43.29x1.13x13.99x-.--% 13.4B
26.03x2.5x8.77x-.--% 7.79B
101.79x0.64x9.63x-.--% 6.52B
7.18x0.35x5.44x7.59% 5.75B
7.51x - - - 4.29B
Average 27.90x 1.14x 9.90x 2.66% 29.22B
Weighted average by Cap. 20.72x 1.14x 9.36x 3.53%
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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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