Company Valuation: Vision Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 54,686 68,576 59,450 62,108 63,597 50,880 - -
Change - 25.4% -13.31% 4.47% 2.4% -20% - -
Enterprise Value (EV) 47,985 61,400 49,951 50,824 51,969 50,880 50,880 50,880
Change - 27.96% -18.65% 1.75% 2.25% -2.09% 0% 0%
P/E 75x 43.9x 19.9x 18.4x 14x 10.7x 9.78x 8.68x
PBR 5.46x 5.71x 4.13x 3.58x 3.05x 2.39x 2.13x 1.89x
PEG - 0x 0.2x 1.5x 0.4x 1.37x 1x 0.7x
Capitalization / Revenue 3.02x 2.69x 1.87x 1.75x 1.63x 1.26x 1.17x 1.08x
EV / Revenue 0x 0x 0x 0x 0x 1.26x 1.17x 1.08x
EV / EBITDA 0x 0x 0x - 0x 6.62x 5.96x 5.37x
EV / EBIT 0x 0x 0x 0x 0x 7.32x 6.48x 5.78x
EV / FCF 0x 0x 0x 0x 0x 16.1x 12.1x 10.4x
FCF Yield 2.17% 0.49% 5.41% 3.28% 2.48% 6.21% 8.27% 9.65%
Dividend per Share 2 - - - 27 50 51 57 63
Rate of return - - - 2.11% 3.87% 4.78% 5.35% 5.91%
EPS 2 15.47 31.96 61.87 69.59 92.12 99.3 109 122.8
Distribution rate - - - 38.8% 54.3% 51.4% 52.3% 51.3%
Net sales 1 18,101 25,488 31,807 35,528 39,012 40,430 43,565 46,960
EBITDA 1 1,223 2,656 5,036 - 7,414 7,690 8,530 9,470
EBIT 1 1,105 2,415 4,280 5,365 6,465 6,950 7,850 8,800
Net income 1 729.1 1,549 3,025 3,375 4,522 4,735 5,200 5,855
Net Debt -6,701 -7,176 -9,499 -11,284 -11,628 - - -
Reference price 2 1,160.00 1,403.00 1,230.00 1,280.00 1,293.00 1,066.00 1,066.00 1,066.00
Nbr of stocks (in thousands) 47,143 48,878 48,334 48,522 49,185 47,730 - -
Announcement Date 14/02/22 14/02/23 13/02/24 13/02/25 13/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.02x1.31x4.14x7.04% 22TCr
11.14x2.6x6.88x5.58% 21TCr
13.9x2.18x5.62x3.94% 16TCr
13.81x1.86x8.11x3.04% 9.31TCr
11.83x0.89x3.34x6.53% 8.08TCr
11.48x1.77x4.47x2.85% 6.84TCr
15.35x2.69x8.4x5.04% 5.82TCr
24.24x5.47x19.96x4.5% 5.8TCr
15.13x2.8x6.27x4.35% 5.16TCr
Average 14.21x 2.40x 7.46x 4.76% 11.13TCr
Weighted average by Cap. 13.09x 2.16x 6.55x 5.14%

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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