Company Valuation: ASICS Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,66,756 5,33,755 8,09,538 22,25,941 26,60,881 36,49,473 - -
Change - 14.35% 51.67% 174.96% 19.54% 37.15% - -
Enterprise Value (EV) 1 4,80,931 6,06,170 8,27,650 21,56,196 26,47,143 35,15,127 34,97,257 34,40,899
Change - 26.04% 36.54% 160.52% 22.77% 32.79% -0.51% -1.61%
P/E 49.6x 26.8x 22.9x 35.2x 27.2x 29.1x 25.7x 22.5x
PBR 3.2x 3.13x 3.95x 9.55x 9.8x 9.83x 8.26x 6.72x
PEG - 0x 0.3x 0.4x 0.5x 1x 2x 1.6x
Capitalization / Revenue 1.16x 1.1x 1.42x 3.28x 3.28x 3.61x 3.27x 2.95x
EV / Revenue 1.19x 1.25x 1.45x 3.18x 3.26x 3.48x 3.13x 2.78x
EV / EBITDA 13.4x 12.1x 11.7x 17.8x 15.7x 16.2x 14.7x 13x
EV / EBIT 21.9x 17.8x 15.3x 21.5x 18.6x 18.6x 16.6x 14.5x
EV / FCF 12.3x -16.9x 11.1x 26.8x 33.5x 32.2x 26.1x 23x
FCF Yield 8.1% -5.92% 9.01% 3.73% 2.98% 3.11% 3.83% 4.35%
Dividend per Share 2 6 10 16.25 20 28 39.55 46.33 53.27
Rate of return 0.94% 1.37% 1.47% 0.64% 0.75% 0.77% 0.9% 1.03%
EPS 2 12.84 27.15 48.13 88.3 138.1 177.2 200.5 228.4
Distribution rate 46.7% 36.8% 33.8% 22.7% 20.3% 22.3% 23.1% 23.3%
Net sales 1 4,04,082 4,84,601 5,70,463 6,78,526 8,10,916 10,10,377 11,16,520 12,36,268
EBITDA 1 35,996 50,002 70,719 1,21,353 1,68,442 2,17,244 2,37,667 2,64,494
EBIT 1 21,945 34,002 54,215 1,00,111 1,42,519 1,88,972 2,11,218 2,37,791
Net income 1 9,402 19,887 35,272 63,806 98,719 1,26,929 1,40,999 1,59,710
Net Debt 1 14,175 72,415 18,112 -69,745 -13,738 -1,34,347 -1,52,217 -2,08,574
Reference price 2 637.50 728.50 1,104.50 3,110.00 3,755.00 5,148.00 5,148.00 5,148.00
Nbr of stocks (in thousands) 7,32,167 7,32,677 7,32,945 7,15,737 7,08,624 7,08,911 - -
Announcement Date 10/02/22 10/02/23 09/02/24 14/02/25 13/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.66x1.36x15.93x4.1% 6.04TCr
16.76x1.16x8.64x2.33% 3.17TCr
29.77x3.58x16.61x0.74% 2.35TCr
21.69x2.15x10.78x-.--% 1.08TCr
14.4x0.83x6.77x5.38% 214.19Cr
5.92x0.32x1.89x7.5% 129.55Cr
6.99x0.31x2.03x7.36% 123.81Cr
6.91x1.23x5.65x11.3% 82Cr
Average 15.76x 1.37x 8.54x 4.84% 1.65TCr
Weighted average by Cap. 22.34x 1.74x 13.40x 2.87%

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