Company Valuation: Tokyo Electron Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 7,276,081 9,849,367 7,511,064 18,317,132 9,211,693 19,248,420 - -
Change - 35.37% -23.74% 143.87% -49.71% 108.96% - -
Enterprise Value (EV) 1 6,964,529 9,478,093 7,037,964 17,844,584 8,715,455 18,738,096 18,780,503 18,647,478
Change - 36.09% -25.74% 153.55% -51.16% 115% 0.23% -0.71%
P/E ratio 30x 22.5x 15.9x 50.5x 17x 36.3x 30.8x 25.5x
PBR 7.18x 7.38x 4.73x 10.5x 5.01x 9.39x 8.26x 7.16x
PEG - 0.3x 2.07x -2.3x 0.3x -16.98x 1.7x 1.2x
Capitalization / Revenue 5.2x 4.92x 3.4x 10x 3.79x 7.98x 6.84x 6.08x
EV / Revenue 4.98x 4.73x 3.19x 9.75x 3.58x 7.76x 6.67x 5.89x
EV / EBITDA 19.6x 14.9x 10.7x 35.1x 11.5x 27.4x 20.7x 17.2x
EV / EBIT 21.7x 15.8x 11.4x 39.1x 12.5x 31.3x 23.7x 19.6x
EV / FCF 54.6x 41.6x 19.6x 57.6x 21.1x 48.9x 39.8x 31.9x
FCF Yield 1.83% 2.4% 5.11% 1.73% 4.73% 2.04% 2.51% 3.13%
Dividend per Share 2 260.3 467.7 570.3 393 592 577.3 685.5 834.5
Rate of return 1.67% 2.22% 3.56% 0.99% 2.94% 1.37% 1.63% 1.99%
EPS 2 520.7 935.9 1,008 783.8 1,182 1,157 1,363 1,646
Distribution rate 50% 50% 56.6% 50.1% 50.1% 49.9% 50.3% 50.7%
Net sales 1 1,399,102 2,003,805 2,209,025 1,830,527 2,431,568 2,413,437 2,813,621 3,167,947
EBITDA 1 354,727 635,998 660,650 508,602 759,467 683,529 906,112 1,086,860
EBIT 1 320,685 599,271 617,723 456,263 697,319 598,783 792,350 950,094
Net income 1 242,941 437,076 471,584 363,963 544,133 529,251 621,465 744,798
Net Debt 1 -311,552 -371,274 -473,100 -472,548 -496,238 -510,324 -467,917 -600,943
Reference price 2 15,596.67 21,083.33 16,040.00 39,570.00 20,110.00 41,990.00 41,990.00 41,990.00
Nbr of stocks (in thousands) 466,515 467,164 468,271 462,905 458,065 458,405 - -
Announcement Date 30/04/21 12/05/22 11/05/23 10/05/24 30/04/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.29x7.76x27.41x1.37% 126B
47.81x13.94x36.71x0.62% 546B
44.97x13.05x36.09x0.44% 294B
40.64x2.72x14.98x1.57% 49.27B
57.59x6.73x24.19x0.32% 19.96B
36.71x11.67x24.3x1.05% 18.09B
22.86x2.85x13.51x1.39% 12.88B
37.73x1.75x10.76x0.68% 11.74B
59.14x10.13x35.08x - 10.79B
182.86x32.3x121.1x - 10.66B
Average 56.66x 10.29x 34.41x 0.93% 109.9B
Weighted average by Cap. 46.42x 12.20x 34.32x 0.71%

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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