Company Valuation: Kao Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,52,283 24,42,686 26,96,205 29,67,136 28,31,960 33,67,509 - -
Change - -14.36% 10.38% 10.05% -4.56% 18.91% - -
Enterprise Value (EV) 1 26,43,951 23,02,274 25,43,022 27,40,482 27,51,820 31,78,308 31,41,336 30,95,613
Change - -12.92% 10.46% 7.76% 0.41% 15.5% -1.16% -1.46%
P/E 26.1x 28.7x 61.5x 27.5x 24.1x 24.1x 22.3x 20.5x
PBR 2.96x 2.51x 2.74x 2.78x 2.66x 2.99x 2.83x 2.65x
PEG - -1.4x -1.3x 0x 2x 1.3x 2.72x 2.35x
Capitalization / Revenue 2.01x 1.57x 1.76x 1.82x 1.68x 1.86x 1.8x 1.74x
EV / Revenue 1.86x 1.48x 1.66x 1.68x 1.63x 1.76x 1.68x 1.6x
EV / EBITDA 11.5x 11.5x 17x 11.7x 11x 11.2x 10.6x 9.81x
EV / EBIT 18.4x 20.9x 42.4x 18.7x 16.8x 16.5x 15.2x 13.8x
EV / FCF 24.4x - 23.3x 25.4x 27.9x 24.3x 21.9x 20x
FCF Yield 4.1% - 4.3% 3.94% 3.58% 4.12% 4.56% 5.01%
Dividend per Share 2 72 74 75 76 77 78.12 79.73 81.88
Rate of return 2.39% 2.82% 2.59% 2.38% 2.46% 2.1% 2.14% 2.2%
EPS 2 115.3 91.64 47.18 116 130.2 154.6 167.3 181.9
Distribution rate 62.4% 80.8% 159% 65.5% 59.2% 50.5% 47.7% 45%
Net sales 1 14,18,768 15,51,059 15,32,579 16,28,448 16,88,633 18,05,764 18,70,636 19,38,297
EBITDA 1 2,30,851 1,99,809 1,49,630 2,35,066 2,49,910 2,83,531 2,97,704 3,15,658
EBIT 1 1,43,510 1,10,071 60,035 1,46,644 1,64,069 1,92,238 2,06,117 2,23,541
Net income 1 1,09,636 86,038 43,870 1,07,767 1,20,081 1,38,523 1,48,781 1,60,709
Net Debt 1 -2,08,332 -1,40,412 -1,53,183 -2,26,654 -80,140 -1,89,201 -2,26,174 -2,71,896
Reference price 2 3,009.50 2,627.50 2,900.00 3,194.00 3,130.50 3,722.00 3,722.00 3,722.00
Nbr of stocks (in thousands) 9,47,760 9,29,661 9,29,726 9,28,972 9,04,635 9,04,758 - -
Announcement Date 03/02/22 02/02/23 07/02/24 06/02/25 05/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.07x1.76x11.21x2.1% 2.13TCr
23.42x4.44x16.27x2.76% 37TCr
31.25x4.79x19.77x1.91% 24TCr
19.62x2.91x12.84x3.22% 14TCr
25.95x3.81x16.04x2.28% 7.5TCr
56.38x7.98x30.77x0.28% 4.98TCr
39.27x6.33x27.49x2.38% 4.69TCr
35.95x2.71x15.03x1.48% 3.78TCr
19.92x2.78x11.61x4.46% 3.63TCr
15.92x2.42x11.33x4.88% 3.51TCr
Average 29.18x 3.99x 17.24x 2.57% 10.59TCr
Weighted average by Cap. 27.24x 4.28x 17.31x 2.53%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Kao Corporation

Historical PBR trend

Valuation ratios - PBR - Kao Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Kao Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Kao Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - Kao Corporation
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