Company Valuation: Sumitomo Forestry Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,44,916 4,66,218 8,60,128 10,83,420 9,81,222 8,93,611 - -
Change - 4.79% 84.49% 25.96% -9.43% -8.93% - -
Enterprise Value (EV) 1 5,95,157 6,58,214 11,08,326 14,90,095 15,65,282 22,61,403 24,09,580 24,89,715
Change - 10.6% 68.38% 34.45% 5.05% 44.47% 6.55% 3.33%
P/E ratio 4.86x 4.29x 8.31x 9.3x 9.21x 8.93x 7.17x 5.71x
PBR 0.9x 0.74x 1.14x 1.18x 0.98x 0.81x 0.75x 0.69x
PEG - 0.2x -1.18x 0.7x -1.12x -1.48x 0.3x 0.2x
Capitalization / Revenue 0.32x 0.28x 0.5x 0.53x 0.43x 0.33x 0.3x 0.28x
EV / Revenue 0.43x 0.39x 0.64x 0.73x 0.69x 0.82x 0.81x 0.78x
EV / EBITDA 4.5x 3.74x 6.65x 6.7x 7.84x 9.8x 7.82x 7.32x
EV / EBIT 5.24x 4.16x 7.55x 7.66x 9.28x 12.6x 10.4x 8.8x
EV / FCF 11.6x 228x 86.6x -27.7x -31.3x -6.48x 115x 48.3x
FCF Yield 8.62% 0.44% 1.16% -3.61% -3.2% -15.4% 0.87% 2.07%
Dividend per Share 2 26.67 41.67 41.67 48.33 53 51.25 63.6 77.75
Rate of return 3.59% 5.36% 2.97% 2.74% 3.3% 3.51% 4.35% 5.32%
EPS 2 152.6 181.3 168.5 189.8 174.1 163.6 203.8 256.1
Distribution rate 17.5% 23% 24.7% 25.5% 30.4% 31.3% 31.2% 30.4%
Net sales 1 13,85,930 16,69,707 17,33,169 20,53,650 22,67,577 27,43,667 29,88,300 31,94,833
EBITDA 1 1,32,252 1,76,164 1,66,673 2,22,504 1,99,663 2,30,866 3,08,000 3,40,000
EBIT 1 1,13,651 1,58,253 1,46,755 1,94,588 1,68,724 1,79,007 2,31,940 2,82,873
Net income 1 87,175 1,08,672 1,02,479 1,16,528 1,06,666 1,00,067 1,24,667 1,56,600
Net Debt 1 1,50,241 1,91,996 2,48,198 4,06,675 5,84,060 13,67,792 15,15,969 15,96,104
Reference price 2 742.00 777.67 1,401.00 1,764.67 1,604.50 1,461.50 1,461.50 1,461.50
Nbr of stocks (in thousands) 5,99,617 5,99,509 6,13,939 6,13,952 6,11,544 6,11,434 - -
Announcement Date 14/02/22 14/02/23 14/02/24 13/02/25 13/02/26 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.83x0.82x9.75x3.55% 558.49Cr
14.51x1.37x10.5x1.2% 4.34TCr
12.53x1.5x8.82x0.82% 2.42TCr
10.04x0.93x7.79x3.61% 1.9TCr
9.78x0.86x9.62x4.15% 1.43TCr
11.51x1.4x8.37x0.7% 1.39TCr
14.66x0.79x6.21x3.1% 658.08Cr
11.81x1.01x8.18x-.--% 574.53Cr
11.02x0.58x5.59x5.22% 531.57Cr
11.75x0.98x7.18x5.22% 523.42Cr
Average 11.64x 1.02x 8.20x 2.76% 1.43TCr
Weighted average by Cap. 12.27x 1.18x 8.94x 2.13%

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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