Company Valuation: MODEC, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 77,612 76,776 1,58,336 2,28,487 8,13,254 6,30,134 - -
Change - -1.08% 106.23% 44.31% 255.93% -22.52% - -
Enterprise Value (EV) 1 33,538 63,604 91,253 1,15,491 6,71,333 7,31,452 7,31,452 7,31,452
Change - 89.65% 43.47% 26.56% 481.29% 8.96% 0% 0%
P/E -1.85x 15.5x 10.6x 6.55x 14.4x 10.2x 9.53x 9.62x
PBR 1.27x 0.71x 1.12x 1.22x 3.58x 2.48x 2.1x 1.82x
PEG - -0x 0x 0x 0.2x 1.03x 1.46x -10.19x
Capitalization / Revenue 0.17x 0.21x 0.31x 0.35x 1.13x 0.85x 0.83x 0.86x
EV / Revenue 0.07x 0.17x 0.18x 0.17x 0.94x 0.98x 0.97x 1x
EV / EBITDA -1.05x 4.16x 2.58x 2.06x 9.21x 8.42x 7.74x 8.43x
EV / EBIT -0.92x -5.65x 3.33x 2.26x 14.1x 9.18x 8.42x 8.67x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 15 - 20 80 140 220 237.8 240
Rate of return 1.09% - 0.86% 2.39% 1.18% 2.39% 2.58% 2.6%
EPS 2 -742.8 88 219.4 510.3 826.2 907.8 967.1 957.9
Distribution rate -2.02% - 9.12% 15.7% 16.9% 24.2% 24.6% 25.1%
Net sales 1 4,48,510 3,63,593 5,07,031 6,62,088 7,17,100 7,44,199 7,56,471 7,30,671
EBITDA 1 -31,904 15,278 35,365 55,982 72,886 86,879 94,469 86,804
EBIT 1 -36,521 -11,260 27,364 51,066 47,675 79,722 86,870 84,388
Net income 1 -41,860 4,960 13,691 34,857 56,456 62,056 66,084 65,468
Net Debt 1 -44,074 -13,172 -67,083 -1,12,996 -1,41,921 1,01,318 1,01,318 1,01,318
Reference price 2 1,377.00 1,362.00 2,318.00 3,345.00 11,900.00 9,220.00 9,220.00 9,220.00
Nbr of stocks (in thousands) 56,363 56,370 68,307 68,307 68,341 68,344 - -
Announcement Date 10/02/22 14/02/23 14/02/24 13/02/25 13/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.84x1.04x8.91x2.24% 420.11Cr
23.24x2.49x11.39x2.05% 8.48TCr
21.15x2.64x14.59x1.44% 6.32TCr
15.38x1.58x8.66x1.86% 3.07TCr
25.55x2.79x13.78x0.26% 3.07TCr
27.76x0.53x4.6x3.67% 1.01TCr
23.89x0.89x7.79x1.81% 761.44Cr
17.7x1.5x7.05x1.17% 677.57Cr
6.99x1.48x5.85x3.02% 688.76Cr
9.16x - - 4.16% 600.4Cr
Average 18.17x 1.66x 9.18x 2.17% 2.51TCr
Weighted average by Cap. 21.10x 2.24x 11.46x 1.77%

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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