Company Valuation: DENSO Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 5,999,765 5,573,487 8,513,199 5,219,690 5,242,566 4,739,555 - -
Change - -7.1% 52.74% -38.69% 0.44% -9.59% - -
Enterprise Value (EV) 1 6,105,662 5,783,278 8,574,530 4,932,543 4,864,722 4,452,660 4,414,248 4,356,496
Change - -5.28% 48.26% -42.47% -1.37% -8.47% -0.86% -1.31%
P/E 22.9x 17.9x 27.5x 12.7x 12x 12.2x 10.3x 9.15x
PBR 1.4x 1.27x 1.52x 1.04x 0.95x 0.87x 0.84x 0.79x
PEG - 0.8x 29.56x 0.3x 1x -2.63x 0.6x 0.7x
Capitalization / Revenue 1.09x 0.87x 1.19x 0.73x 0.7x 0.6x 0.59x 0.57x
EV / Revenue 1.11x 0.9x 1.2x 0.69x 0.65x 0.56x 0.55x 0.52x
EV / EBITDA 8.88x 7.31x 11.4x 5.51x 5.23x 4.94x 4.31x 4.11x
EV / EBIT 17.9x 13.6x 22.5x 9.5x 8.8x 8.31x 7.23x 6.62x
EV / FCF 64.9x 24.2x 18x 7.75x 9.84x 12.3x 9.34x 8.77x
FCF Yield 1.54% 4.13% 5.55% 12.9% 10.2% 8.12% 10.7% 11.4%
Dividend per Share 2 41.25 46.25 55 64 67 73.44 78.81 84.97
Rate of return 2.1% 2.49% 1.91% 3.47% 3.44% 3.88% 4.17% 4.49%
EPS 2 85.69 104 105 145 163 155.4 183.9 206.5
Distribution rate 48.1% 44.5% 52.4% 44.1% 41.1% 47.3% 42.9% 41.1%
Net sales 1 5,515,512 6,401,320 7,144,733 7,161,777 7,539,975 7,932,260 8,049,478 8,312,356
EBITDA 1 687,705 790,734 754,868 895,546 930,612 900,592 1,025,152 1,061,060
EBIT 1 341,179 426,099 380,599 518,953 552,538 535,671 610,642 657,824
Net income 1 263,901 314,633 312,791 419,081 443,755 409,561 462,372 500,347
Net Debt 1 105,897 209,791 61,331 -287,147 -377,844 -286,895 -325,306 -383,058
Reference price 2 1,965.00 1,860.75 2,883.00 1,844.00 1,947.50 1,890.50 1,890.50 1,890.50
Nbr of stocks (in thousands) 3,053,316 2,995,290 2,952,896 2,830,635 2,691,947 2,507,038 - -
Announcement Date 4/28/22 4/27/23 4/26/24 4/25/25 4/28/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.17x0.56x4.94x3.88% 30.08B
19.4x1.31x10.02x1.91% 42.8B
17.42x0.76x5.6x3.34% 36.76B
10.23x0.63x8x1.45% 30.09B
14.68x2.7x9.44x4.07% 21.35B
10.98x0.52x5.04x2.82% 18.62B
28.73x1.14x11.9x0.56% 16.58B
11.92x1.12x5.88x3.97% 16.41B
12.66x0.99x6.56x1.06% 12.93B
46.78x - - 1.08% 12.78B
Average 18.50x 1.08x 7.49x 2.42% 23.84B
Weighted average by Cap. 17.18x 1.05x 7.53x 2.54%

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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