Company Valuation: Calbee, Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 305,175 346,148 428,366 349,012 374,126 365,128 - -
Change - 13.43% 23.75% -18.52% 7.2% -2.4% - -
Enterprise Value (EV) 1 248,153 315,830 411,106 328,811 350,615 356,778 359,310 357,364
Change - 27.27% 30.17% -20.02% 6.63% 1.76% 0.71% -0.54%
P/E 17.3x 24.1x 21.5x 16.7x 22x 20.7x 18.6x 17.6x
PBR 1.73x 1.99x 2.23x 1.7x 1.78x 1.68x 1.61x 1.51x
PEG - -1.6x 0.6x 3.37x -1.4x 5.83x 1.7x 3.06x
Capitalization / Revenue 1.24x 1.24x 1.41x 1.08x 1.1x 1x 0.96x 0.93x
EV / Revenue 1.01x 1.13x 1.36x 1.02x 1.03x 0.97x 0.95x 0.91x
EV / EBITDA 6.87x 9.22x 10.3x 7.58x 8.1x 8.12x 7.51x 7.06x
EV / EBIT 9.87x 14.2x 15.1x 11.3x 13.4x 13.5x 12.2x 11.5x
EV / FCF 25.2x -42.6x -37.5x 31.3x 37.4x 49.6x 34.4x 20.7x
FCF Yield 3.96% -2.34% -2.67% 3.19% 2.68% 2.02% 2.9% 4.84%
Dividend per Share 2 52 52 56 58 66 69 72.48 75.9
Rate of return 2.21% 1.88% 1.63% 2.08% 2.14% 2.3% 2.41% 2.53%
EPS 2 136.2 115.2 159.2 167.1 140 145 161 170.3
Distribution rate 38.2% 45.2% 35.2% 34.7% 47.1% 47.6% 45% 44.6%
Net sales 1 245,419 279,315 303,027 322,564 340,151 366,400 378,600 391,267
EBITDA 1 36,143 34,259 39,979 43,362 43,266 43,962 47,849 50,599
EBIT 1 25,135 22,233 27,304 29,066 26,173 26,460 29,533 31,183
Net income 1 18,053 14,772 19,886 20,874 17,329 17,620 19,583 20,600
Net Debt 1 -57,022 -30,318 -17,260 -20,201 -23,511 -8,350 -5,819 -7,765
Reference price 2 2,355.00 2,771.00 3,429.00 2,793.50 3,077.00 3,003.00 3,003.00 3,003.00
Nbr of stocks (in thousands) 129,586 124,918 124,925 124,937 121,588 121,588 - -
Announcement Date 5/10/22 5/9/23 5/9/24 5/12/25 5/14/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.72x0.97x8.12x2.3% 2.25B
21.22x3.04x14.92x3.68% 273B
21.31x2.47x14.6x3.4% 78.3B
19.24x1.95x11.03x3.2% 53.46B
19.13x0.57x10.9x2.39% 41.4B
21.47x3.19x12.97x3.37% 34.77B
12.33x1.97x9.7x6.2% 30.69B
36.69x3.09x18.32x0.97% 30.54B
69.72x10.4x44.17x1.11% 28.59B
Average 26.87x 3.07x 16.08x 2.96% 63.65B
Weighted average by Cap. 23.68x 2.99x 15.44x 3.34%

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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