Company Valuation: TOKAI Corp.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 60,694 69,713 77,103 70,684 75,946 77,489 - -
Change - 14.86% 10.6% -8.33% 7.44% 2.03% - -
Enterprise Value (EV) 1 27,258 35,015 47,242 45,942 54,043 54,389 51,561 48,663
Change - 28.46% 34.92% -2.75% 17.63% 0.64% -5.2% -5.62%
P/E 10.5x 11.4x 13.3x 15x 13.2x 12.3x 11.5x 10.7x
PBR 0.79x 0.85x 0.89x 0.83x 0.91x 0.82x 0.81x 0.77x
PEG - 2.09x -2.77x -1x 0.4x 1.24x 1.64x 1.5x
Capitalization / Revenue 0.49x 0.54x 0.56x 0.47x 0.48x 0.47x 0.45x 0.44x
EV / Revenue 0.22x 0.27x 0.34x 0.31x 0.34x 0.33x 0.3x 0.28x
EV / EBITDA 2.23x 2.88x 3.7x 3.46x 3.72x 3.8x 3.49x 3.15x
EV / EBIT 3.3x 4.46x 5.85x 5.6x 5.76x 6.02x 5.4x 4.82x
EV / FCF 8.03x 14.9x -38.7x 8.1x 7.5x 6.7x 7.97x 7.16x
FCF Yield 12.5% 6.73% -2.58% 12.3% 13.3% 14.9% 12.6% 14%
Dividend per Share 2 42 60 58 58 68 82 86.5 92
Rate of return 2.44% 3.03% 2.65% 2.78% 2.77% 3.27% 3.45% 3.67%
EPS 2 164.4 173.4 165 139.1 185.6 204 218.4 234
Distribution rate 25.5% 34.6% 35.1% 41.7% 36.6% 40.2% 39.6% 39.3%
Net sales 1 1,23,484 1,30,184 1,38,222 1,49,542 1,59,664 1,65,900 1,71,250 1,76,885
EBITDA 1 12,205 12,144 12,762 13,297 14,522 14,317 14,774 15,468
EBIT 1 8,252 7,855 8,082 8,205 9,382 9,038 9,552 10,098
Net income 1 5,806 6,106 5,810 4,733 6,069 6,212 6,546 6,902
Net Debt 1 -33,436 -34,698 -29,861 -24,742 -21,903 -23,100 -25,928 -28,826
Reference price 2 1,724.00 1,979.00 2,190.00 2,090.00 2,459.00 2,509.00 2,509.00 2,509.00
Nbr of stocks (in thousands) 35,206 35,227 35,207 33,820 30,885 30,885 - -
Announcement Date 09/05/22 11/05/23 10/05/24 09/05/25 12/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.18x0.32x3.75x3.3% 48Cr
36.06x6.57x23.34x0.95% 7.92TCr
37.82x1.26x13.56x0.98% 1.68TCr
20.31x2.07x10.22x3.62% 1.42TCr
25.46x2.84x12.17x2.96% 1.22TCr
25.35x3.53x13.59x2.28% 812.04Cr
15.7x0.66x9.38x1.37% 711.09Cr
9.5x1.12x6x2.21% 566.28Cr
19x0.4x9.38x3.92% 538Cr
20.34x2.19x10.34x-.--% 523.97Cr
Average 22.17x 2.10x 11.17x 2.16% 1.54TCr
Weighted average by Cap. 30.29x 4.27x 17.40x 1.57%

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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