Company Valuation: Sumitomo Rubber Industries, Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,08,232 3,02,986 4,02,944 4,69,111 6,34,356 5,20,304 - -
Change - -1.7% 32.99% 16.42% 35.23% -17.98% - -
Enterprise Value (EV) 1 4,71,784 5,40,942 6,26,749 7,00,320 8,57,765 8,15,283 7,70,976 7,39,534
Change - 14.66% 15.86% 11.74% 22.48% -4.95% -5.43% -4.08%
P/E 10.5x 32.2x 10.9x 47.5x 12.6x 9.11x 7.15x 6.26x
PBR 0.61x 0.55x 0.65x 0.71x 0.89x 0.7x 0.66x 0.62x
PEG - -0.5x 0x -0.6x 0x 0.7x 0.3x 0.4x
Capitalization / Revenue 0.33x 0.28x 0.34x 0.39x 0.53x 0.4x 0.38x 0.37x
EV / Revenue 0.5x 0.49x 0.53x 0.58x 0.71x 0.63x 0.56x 0.52x
EV / EBITDA 4.04x 5.99x 4.38x 7.42x 5.32x 5.11x 3.99x 3.5x
EV / EBIT 9.59x 36.1x 9.72x 62.6x 10.4x 9.04x 6.6x 5.58x
EV / FCF 52x -10.6x 6.31x 26.7x -23.7x 29.1x 14.5x 11.2x
FCF Yield 1.92% -9.4% 15.9% 3.75% -4.21% 3.43% 6.91% 8.92%
Dividend per Share 2 55 35 58 58 77 88.47 108.8 126.2
Rate of return 4.69% 3.04% 3.79% 3.25% 3.19% 4.47% 5.5% 6.38%
EPS 2 112 35.8 140.9 37.51 191.6 217.4 276.7 316.1
Distribution rate 49.1% 97.8% 41.2% 155% 40.2% 40.7% 39.3% 39.9%
Net sales 1 9,36,000 10,98,700 11,77,400 12,11,856 12,07,061 13,02,931 13,66,279 14,22,428
EBITDA 1 1,16,893 90,336 1,43,049 94,354 1,61,253 1,59,598 1,93,336 2,11,284
EBIT 1 49,200 15,000 64,500 11,186 82,584 90,216 1,16,887 1,32,615
Net income 1 29,500 9,400 37,000 9,865 50,379 55,154 72,703 82,714
Net Debt 1 1,63,552 2,37,956 2,23,805 2,31,209 2,23,409 2,94,979 2,50,671 2,19,229
Reference price 2 1,172.00 1,152.00 1,532.00 1,783.50 2,413.50 1,979.50 1,979.50 1,979.50
Nbr of stocks (in thousands) 2,62,996 2,63,009 2,63,018 2,63,028 2,62,837 2,62,846 - -
Announcement Date 09/02/22 14/02/23 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.($)
13.02x0.99x5.29x3.58% 2.98TCr
13.54x0.98x5.51x4.07% 2.52TCr
14.31x1.23x5.32x4.02% 802.21Cr
8.33x1.13x5.37x3.37% 706.21Cr
9.81x1x5.72x3.02% 622.7Cr
8.69x - - 3.5% 573.36Cr
23.77x1.56x11.8x0.19% 545.8Cr
5.56x0.48x3.02x5.11% 542.57Cr
18.35x - - 3.05% 504.14Cr
Average 12.82x 1.05x 6.00x 3.32% 1.09TCr
Weighted average by Cap. 12.92x 1.03x 5.66x 3.55%

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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