Company Valuation: NOF Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,81,197 4,13,070 4,99,336 4,98,345 4,74,805 7,08,071 - -
Change - -14.16% 20.88% -0.2% -4.72% 49.13% - -
Enterprise Value (EV) 1 4,12,472 3,33,269 4,11,659 4,11,766 3,92,055 6,20,127 6,26,709 5,85,039
Change - -19.2% 23.52% 0.03% -4.79% 58.17% 1.06% -6.65%
P/E ratio 20.6x 15.5x 14.8x 14.8x 13.1x 18.6x 16.5x 14.7x
PBR 2.36x 1.87x 2.08x 1.88x 1.69x 2.44x 2.26x 2.05x
PEG - 1x 0.5x 9.51x 1.46x 2.16x 1.3x 1.2x
Capitalization / Revenue 2.79x 2.14x 2.29x 2.24x 1.99x 2.74x 2.41x 2.18x
EV / Revenue 2.39x 1.73x 1.89x 1.85x 1.65x 2.4x 2.13x 1.8x
EV / EBITDA 12.8x 8.03x 8.76x 8.39x 7.36x 8.9x 6.75x 5.07x
EV / EBIT 15.5x 9.36x 10.1x 9.77x 8.65x 13.3x 11.5x 9.56x
EV / FCF 18.5x 17.9x 18.2x 36.5x 37x 30.7x 34.2x 18.9x
FCF Yield 5.4% 5.59% 5.5% 2.74% 2.7% 3.26% 2.92% 5.3%
Dividend per Share 2 26.67 30 36 38 45 52 57.5 63.2
Rate of return 1.38% 1.79% 1.75% 1.82% 2.23% 1.68% 1.85% 2.04%
EPS 2 93.5 107.9 139 141.2 153.9 167.1 187.9 210.9
Distribution rate 28.5% 27.8% 25.9% 26.9% 29.2% 31.1% 30.6% 30%
Net sales 1 1,72,645 1,92,642 2,17,709 2,22,252 2,38,310 2,58,500 2,94,067 3,24,980
EBITDA 1 32,155 41,504 46,983 49,081 53,273 69,700 92,825 1,15,367
EBIT 1 26,602 35,595 40,624 42,142 45,308 46,683 54,333 61,220
Net income 1 23,302 26,690 33,973 33,990 36,497 38,167 42,650 47,380
Net Debt 1 -68,725 -79,801 -87,677 -86,579 -82,750 -87,944 -81,362 -1,23,033
Reference price 2 1,930.00 1,673.33 2,056.67 2,085.50 2,020.00 3,104.00 3,104.00 3,104.00
Nbr of stocks (in thousands) 2,49,325 2,46,855 2,42,789 2,38,957 2,35,052 2,28,116 - -
Announcement Date 12/05/21 11/05/22 11/05/23 09/05/24 09/05/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
18.58x2.4x9.83x1.63% 463.19Cr
27.17x3.96x13.11x2.02% 12TCr
-7.72x1.38x9.18x5.28% 4.64TCr
21.55x1.78x10.9x1.45% 3.85TCr
24.87x1.24x11.83x1.94% 2.5TCr
13.87x3.8x10.74x3.15% 2.42TCr
67.66x0.9x10.22x0.72% 2.02TCr
140.56x2.76x25.22x0.84% 1.99TCr
275.24x7.27x52.13x0.02% 1.91TCr
Average 64.64x 2.83x 17.02x 1.9% 3.49TCr
Weighted average by Cap. 44.86x 2.99x 14.88x 2.23%

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

  1. Stock Market
  2. Equities
  3. 4403 Stock
  4. Valuation NOF Corporation