Company Valuation: Dai-ichi Life Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 21,19,121 25,60,126 22,92,812 36,41,748 40,45,324 53,82,586 - -
Change - 20.81% -10.44% 58.83% 11.08% 33.06% - -
Enterprise Value (EV) 1 11,34,750 34,30,509 15,80,337 46,17,034 52,40,322 69,37,765 70,20,723 71,22,743
Change - 202.31% -53.93% 192.16% 13.5% 32.39% 1.2% 1.45%
P/E ratio 5.84x 6.52x 12.9x 11.7x 9.77x 12.8x 12.2x 11.4x
PBR 0.44x 0.58x 0.83x 0.94x 1.2x 1.5x 1.42x 1.39x
PEG - 0.4x -0.3x 0.2x 0.2x 5.87x 2.29x 1.63x
Capitalization / Revenue 0.27x 0.31x 0.24x 0.33x 0.41x 0.53x 0.51x 0.53x
EV / Revenue 0.14x 0.42x 0.17x 0.42x 0.53x 0.69x 0.66x 0.7x
EV / EBITDA - - - - - - - -
EV / EBIT - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 15.5 20.75 21.5 28.25 34.25 51.43 61.09 66.48
Rate of return 3.26% 3.32% 3.53% 2.93% 3.02% 3.38% 4.01% 4.37%
EPS 2 81.4 95.79 47.32 82.42 116 118.5 124.8 133.5
Distribution rate 19% 21.7% 45.4% 34.3% 29.5% 43.4% 49% 49.8%
Net sales 1 78,27,800 82,09,708 95,19,445 1,10,28,166 98,73,251 1,00,81,366 1,06,21,390 1,02,28,217
EBITDA - - - - - - - -
EBIT 4,82,540 4,74,371 2,80,679 4,26,998 - - - -
Net income 1 3,63,700 4,09,353 1,92,301 3,20,765 4,29,613 4,31,023 4,48,931 4,67,166
Net Debt 1 -9,84,371 8,70,383 -7,12,475 9,75,286 11,94,998 15,55,180 16,38,137 17,40,157
Reference price 2 475.50 624.75 608.75 963.25 1,133.00 1,521.50 1,521.50 1,521.50
Nbr of stocks (in thousands) 44,56,616 40,97,840 37,66,426 37,80,689 35,70,454 36,24,637 - -
Announcement Date 14/05/21 12/05/22 15/05/23 15/05/24 15/05/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.53x0.69x - 3.46% 3.51TCr
8.27x5.26x - 4.2% 17TCr
8.47x0.83x - 6.16% 8.96TCr
12.75x0.95x - 4.46% 6.28TCr
11.28x - - 3.85% 6.16TCr
19.62x2.98x - 2.02% 5.96TCr
8.07x0.97x - 2.79% 5.58TCr
13.4x - - 2.91% 5.07TCr
11.84x - - 4.26% 4.1TCr
12.41x - - 4.09% 3.82TCr
Average 11.86x 1.95x 3.82% 6.62TCr
Weighted average by Cap. 11.08x 2.71x 4%

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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