Company Valuation: Lion Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,46,857 4,30,328 3,72,218 4,87,133 4,56,200 5,24,975 - -
Change - -3.7% -13.5% 30.87% -6.35% 15.08% - -
Enterprise Value (EV) 1 3,51,410 3,61,419 3,17,033 4,14,533 3,96,358 4,41,675 4,29,327 4,06,258
Change - 2.85% -12.28% 30.75% -4.38% 11.43% -2.8% -5.37%
P/E 18.8x 19.7x 25.4x 23x 16.5x 20.6x 19.8x 18x
PBR 1.78x 1.63x 1.33x 1.66x 1.41x 1.54x 1.46x 1.37x
PEG - -3.43x -0.8x 0.5x 0.5x -2.62x 4.38x 1.83x
Capitalization / Revenue 1.22x 1.1x 0.92x 1.18x 1.08x 1.2x 1.19x 1.16x
EV / Revenue 0.96x 0.93x 0.79x 1x 0.94x 1.01x 0.97x 0.9x
EV / EBITDA 7.79x 9.06x 8.34x 9.19x 8.04x 7.7x 7.17x 6.4x
EV / EBIT 11.3x 12.5x 15.5x 15.7x 12.9x 12.3x 11.3x 9.8x
EV / FCF -19.5x 16.1x -67.1x 11.5x -141x 16.9x 11.9x 10.5x
FCF Yield -5.12% 6.21% -1.49% 8.68% -0.71% 5.93% 8.37% 9.51%
Dividend per Share 2 24 25 26 27 30 34 36.08 38.18
Rate of return 1.56% 1.65% 1.99% 1.53% 1.82% 1.79% 1.9% 2.01%
EPS 2 81.73 77.04 51.42 76.51 99.74 91.9 96.06 105.5
Distribution rate 29.4% 32.5% 50.6% 35.3% 30.1% 37% 37.6% 36.2%
Net sales 1 3,66,200 3,89,800 4,02,700 4,12,943 4,22,000 4,36,103 4,41,294 4,53,343
EBITDA 1 45,100 39,900 38,000 45,100 49,300 57,379 59,900 63,456
EBIT 1 31,100 28,800 20,500 26,332 30,700 35,944 38,012 41,450
Net income 1 23,700 21,900 14,600 21,197 27,500 25,392 26,423 28,905
Net Debt 1 -95,447 -68,909 -55,185 -72,600 -59,842 -83,300 -95,648 -1,18,717
Reference price 2 1,537.00 1,514.00 1,308.50 1,762.50 1,649.00 1,897.50 1,897.50 1,897.50
Nbr of stocks (in thousands) 2,90,733 2,84,233 2,84,462 2,76,388 2,76,653 2,76,667 - -
Announcement Date 14/02/22 13/02/23 14/02/24 13/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.65x1.01x7.7x1.79% 329.62Cr
18.26x3.23x11.64x4.1% 4.53TCr
27.69x4.18x17.72x1.2% 2.44TCr
18.7x2.34x12.71x4.64% 1.31TCr
16.13x1.81x10.31x3.51% 550.8Cr
15.55x1.81x10.78x9.45% 371.68Cr
37.66x4.63x25.21x - 312.86Cr
22.66x2.16x15.44x1.94% 79Cr
Average 22.16x 2.65x 13.94x 3.81% 1.24TCr
Weighted average by Cap. 21.14x 3.18x 13.50x 3.52%

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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