Company Valuation: Canon Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,929,211 2,899,801 3,575,836 4,871,959 4,070,674 3,912,904 - -
Change - -1% 23.31% 36.25% -16.45% -3.88% - -
Enterprise Value (EV) 1 2,749,080 2,944,208 3,588,005 4,889,024 4,430,852 4,216,671 4,181,338 4,045,391
Change - 7.1% 21.87% 36.26% -9.37% -4.83% -0.84% -3.25%
P/E 13.6x 12.1x 13.7x 31.2x 12.6x 12.2x 11.6x 10.9x
PBR 1.02x 0.93x 1.07x 1.48x 1.17x 1.12x 1.06x 1x
PEG - 0.8x 1.2x -0.8x 0x 3.94x 2.53x 1.57x
Capitalization / Revenue 0.83x 0.72x 0.86x 1.08x 0.88x 0.82x 0.79x 0.78x
EV / Revenue 0.78x 0.73x 0.86x 1.08x 0.96x 0.88x 0.85x 0.8x
EV / EBITDA 5.46x 5.08x 5.84x 9.49x 6.38x 6.06x 5.82x 5.35x
EV / EBIT 9.75x 8.33x 9.56x 17.5x 9.73x 9.18x 8.75x 7.98x
EV / FCF 10x 36x 20.4x 13.9x 19.6x 15.3x 14.6x 12.8x
FCF Yield 9.96% 2.78% 4.9% 7.17% 5.11% 6.55% 6.87% 7.81%
Dividend per Share 2 100 120 140 155 160 160.5 166.6 172.2
Rate of return 3.57% 4.2% 3.87% 3% 3.45% 3.48% 3.62% 3.74%
EPS 2 205.4 236.7 264.2 165.5 367.5 378.8 396.2 423.8
Distribution rate 48.7% 50.7% 53% 93.6% 43.5% 42.4% 42.1% 40.6%
Net sales 1 3,513,357 4,031,414 4,180,972 4,509,821 4,624,727 4,770,323 4,931,488 5,032,750
EBITDA 1 503,164 579,891 614,042 515,219 694,626 695,806 718,507 756,367
EBIT 1 281,918 353,399 375,366 279,754 455,390 459,314 477,690 507,044
Net income 1 214,718 243,961 264,513 160,025 332,053 330,927 333,923 351,393
Net Debt 1 -180,131 44,407 12,169 17,065 360,178 303,767 268,434 132,487
Reference price 2 2,801.00 2,855.50 3,620.00 5,161.00 4,633.00 4,607.00 4,607.00 4,607.00
Nbr of stocks (in thousands) 1,045,773 1,015,514 987,800 943,995 878,626 849,339 - -
Announcement Date 1/27/22 1/30/23 1/30/24 1/30/25 1/29/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.01x7.51x23.8x-.--% 29.78B
12.16x0.88x6.06x3.48% 24.81B
12.09x0.98x5.53x2.39% 7.32B
18.54x1.73x10x1.81% 7.14B
13.83x0.47x5.7x2.64% 5.95B
17.04x0.9x8.02x2.54% 4.87B
34.49x10.15x23.98x0.87% 3.7B
49.53x3.14x19.19x1.3% 3.44B
247.09x - - - 3.17B
Average 48.53x 3.22x 12.78x 1.88% 10.02B
Weighted average by Cap. 30.18x 3.68x 13.78x 1.76%

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