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 32,60,995 - -
Change - 14.35% 51.67% 174.96% 19.54% 22.55% - -
Enterprise Value (EV) 1 4,80,931 6,06,170 8,27,650 21,56,196 26,47,143 31,37,871 30,67,897 29,93,372
Change - 26.04% 36.54% 160.52% 22.77% 18.54% -2.23% -2.43%
P/E 49.6x 26.8x 22.9x 35.2x 27.2x 26.7x 23.4x 20.6x
PBR 3.2x 3.13x 3.95x 9.55x 9.8x 9.27x 7.48x 6.11x
PEG - 0x 0.3x 0.4x 0.5x 1.1x 1.7x 1.5x
Capitalization / Revenue 1.16x 1.1x 1.42x 3.28x 3.28x 3.32x 2.97x 2.69x
EV / Revenue 1.19x 1.25x 1.45x 3.18x 3.26x 3.19x 2.8x 2.47x
EV / EBITDA 13.4x 12.1x 11.7x 17.8x 15.7x 15.1x 13.1x 11.5x
EV / EBIT 21.9x 17.8x 15.3x 21.5x 18.6x 17.3x 14.9x 12.9x
EV / FCF 12.3x -16.9x 11.1x 26.8x 33.5x 30.3x 23.5x 20.4x
FCF Yield 8.1% -5.92% 9.01% 3.73% 2.98% 3.3% 4.26% 4.91%
Dividend per Share 2 6 10 16.25 20 28 37.92 45.67 52.36
Rate of return 0.94% 1.37% 1.47% 0.64% 0.75% 0.82% 0.99% 1.14%
EPS 2 12.84 27.15 48.13 88.3 138.1 172.3 196.6 223.3
Distribution rate 46.7% 36.8% 33.8% 22.7% 20.3% 22% 23.2% 23.5%
Net sales 1 4,04,082 4,84,601 5,70,463 6,78,526 8,10,916 9,83,517 10,96,769 12,13,070
EBITDA 1 35,996 50,002 70,719 1,21,353 1,68,442 2,08,362 2,34,079 2,59,472
EBIT 1 21,945 34,002 54,215 1,00,111 1,42,519 1,81,741 2,06,397 2,31,654
Net income 1 9,402 19,887 35,272 63,806 98,719 1,22,195 1,38,304 1,56,185
Net Debt 1 14,175 72,415 18,112 -69,745 -13,738 -1,23,124 -1,93,098 -2,67,623
Reference price 2 637.50 728.50 1,104.50 3,110.00 3,755.00 4,600.00 4,600.00 4,600.00
Nbr of stocks (in thousands) 7,32,167 7,32,677 7,32,945 7,15,737 7,08,624 7,08,912 - -
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.($)
27.16x3.25x15.33x0.81% 2.05TCr
28.65x1.44x19.05x3.78% 6.4TCr
19.75x1.38x10.19x2.02% 3.77TCr
24.32x2.4x12.12x-.--% 1.21TCr
14.48x0.83x6.49x5.94% 209.86Cr
7.06x0.3x1.99x7.2% 127.47Cr
5.19x0.25x1.48x8.49% 115.81Cr
7.09x1.25x5.73x8.63% 84Cr
13.85x0.36x5.32x1.59% 13Cr
Average 16.39x 1.27x 8.63x 4.27% 1.55TCr
Weighted average by Cap. 24.91x 1.74x 14.93x 2.67%

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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