Company Valuation: Canon Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,29,211 28,99,801 35,75,836 48,71,959 40,70,674 39,19,698 - -
Change - -1% 23.31% 36.25% -16.45% -3.71% - -
Enterprise Value (EV) 1 27,49,080 29,44,208 35,88,005 48,89,024 44,30,852 42,26,932 41,41,467 40,55,985
Change - 7.1% 21.87% 36.26% -9.37% -4.6% -2.02% -2.06%
P/E 13.6x 12.1x 13.7x 31.2x 12.6x 12.4x 11.6x 10.9x
PBR 1.02x 0.93x 1.07x 1.48x 1.17x 1.12x 1.06x 1x
PEG - 0.8x 1.2x -0.8x 0x 8.05x 1.8x 1.54x
Capitalization / Revenue 0.83x 0.72x 0.86x 1.08x 0.88x 0.82x 0.79x 0.78x
EV / Revenue 0.78x 0.73x 0.86x 1.08x 0.96x 0.88x 0.84x 0.8x
EV / EBITDA 5.46x 5.08x 5.84x 9.49x 6.38x 6.07x 5.74x 5.35x
EV / EBIT 9.75x 8.33x 9.56x 17.5x 9.73x 9.26x 8.61x 7.93x
EV / FCF 10x 36x 20.4x 13.9x 19.6x 15.3x 14.1x 12.8x
FCF Yield 9.96% 2.78% 4.9% 7.17% 5.11% 6.55% 7.11% 7.79%
Dividend per Share 2 100 120 140 155 160 160.6 168.8 176.1
Rate of return 3.57% 4.2% 3.87% 3% 3.45% 3.48% 3.66% 3.82%
EPS 2 205.4 236.7 264.2 165.5 367.5 373.1 397.2 425.3
Distribution rate 48.7% 50.7% 53% 93.6% 43.5% 43% 42.5% 41.4%
Net sales 1 35,13,357 40,31,414 41,80,972 45,09,821 46,24,727 47,83,150 49,38,722 50,40,144
EBITDA 1 5,03,164 5,79,891 6,14,042 5,15,219 6,94,626 6,96,423 7,21,458 7,57,817
EBIT 1 2,81,918 3,53,399 3,75,366 2,79,754 4,55,390 4,56,517 4,80,969 5,11,512
Net income 1 2,14,718 2,43,961 2,64,513 1,60,025 3,32,053 3,27,281 3,35,166 3,52,692
Net Debt 1 -1,80,131 44,407 12,169 17,065 3,60,178 3,07,234 2,21,768 1,36,287
Reference price 2 2,801.00 2,855.50 3,620.00 5,161.00 4,633.00 4,615.00 4,615.00 4,615.00
Nbr of stocks (in thousands) 10,45,773 10,15,514 9,87,800 9,43,995 8,78,626 8,49,339 - -
Announcement Date 27/01/22 30/01/23 30/01/24 30/01/25 29/01/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
12.49x0.89x6.12x3.45% 2.54TCr
13.12x1.03x5.77x2.47% 776.45Cr
14.13x0.48x5.79x2.59% 616.6Cr
38.16x11.23x26.53x0.78% 407.98Cr
11.45x2.22x7.24x2.07% 241Cr
11.03x0.47x5x2.71% 210.99Cr
13.06x0.65x7.62x2.51% 149.81Cr
12.81x - - 2.01% 101.56Cr
11.63x - - 2.87% 58Cr
Average 15.32x 2.42x 9.15x 2.38% 567.39Cr
Weighted average by Cap. 14.74x 1.75x 7.76x 2.82%

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