Company Valuation: Azbil Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 561,475 482,010 552,561 594,441 687,483 728,785 - -
Change - -14.15% 14.64% 7.58% 15.65% 6.01% - -
Enterprise Value (EV) 1 480,067 410,778 482,035 505,028 597,116 651,868 630,130 621,891
Change - -14.43% 17.35% 4.77% 18.23% 9.17% -3.33% -1.31%
P/E 27.1x 21.5x 18.4x 14.8x 17.9x 19.8x 18.9x 17.7x
PBR 2.8x 2.38x 2.5x 2.51x 2.72x 2.96x 2.96x 2.96x
PEG - 1.9x 0.5x 0.4x -6.34x -6.13x 4.23x 2.56x
Capitalization / Revenue 2.19x 1.73x 1.9x 1.98x 2.3x 2.29x 2.21x 2.19x
EV / Revenue 1.87x 1.48x 1.66x 1.68x 2x 2.05x 1.91x 1.87x
EV / EBITDA 14.5x 11.3x 11.2x 10.5x 11x 8.53x 11x 10.5x
EV / EBIT 17x 13.1x 13.1x 12.2x 12.6x 12.7x 12.2x 11.2x
EV / FCF 78.3x 36.9x 19.1x 11x 13.4x 21.2x 17.9x 17.2x
FCF Yield 1.28% 2.71% 5.22% 9.11% 7.45% 4.71% 5.58% 5.81%
Dividend per Share 2 15 16.5 19 24 32 50 37.33 45
Rate of return 1.47% 1.83% 1.81% 2.08% 2.36% 3.45% 2.57% 3.1%
EPS 2 37.7 42.07 57.1 77.96 75.76 73.31 76.59 81.89
Distribution rate 39.8% 39.2% 33.3% 30.8% 42.2% 68.2% 48.7% 55%
Net sales 1 256,551 278,406 290,938 300,378 298,930 318,469 329,298 333,118
EBITDA 1 33,078 36,205 42,885 48,200 54,365 76,390 57,100 59,300
EBIT 1 28,231 31,251 36,841 41,486 47,304 51,405 51,646 55,355
Net income 1 20,784 22,602 30,207 40,955 38,565 37,394 39,357 41,405
Net Debt 1 -81,408 -71,232 -70,526 -89,413 -90,367 -76,917 -98,655 -106,895
Reference price 2 1,022.50 902.50 1,048.50 1,151.50 1,354.00 1,450.50 1,450.50 1,450.50
Nbr of stocks (in thousands) 549,119 534,083 527,002 516,232 507,743 502,437 - -
Announcement Date 5/13/22 5/12/23 5/13/24 5/13/25 5/13/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.3x2.92x15.94x2.13% 233B
14.58x1.82x8.23x3.51% 211B
30.05x3.86x17.82x1.63% 184B
37.63x5.61x23.63x1.04% 165B
42.34x5.67x25.42x1.17% 142B
41.28x6.79x27.28x0.1% 96.01B
86.67x10.79x61.51x0.37% 90.15B
30.68x4.98x17.33x1.47% 83.63B
32.4x7.02x22.06x0.57% 54.48B
Average 37.77x 5.50x 24.36x 1.33% 139.9B
Weighted average by Cap. 33.82x 4.71x 21.48x 1.65%

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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