Company Valuation: Espec Corp.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 44,026 44,429 66,589 52,005 64,103 85,020 - -
Change - 0.91% 49.88% -21.9% 23.27% 32.63% - -
Enterprise Value (EV) 28,221 30,422 55,023 39,363 50,018 85,020 85,020 85,020
Change - 7.8% 80.86% -28.46% 27.07% 69.98% 0% 0%
P/E 23.2x 13.5x 13.4x 8.66x 11x 13.9x 12.8x 11.3x
PBR 0.97x 0.95x 1.26x 0.92x 1.03x 1.31x 1.23x 1.15x
PEG - 0.2x 0.3x 0.4x -6.6x 2.04x 1.4x 0.9x
Capitalization / Revenue 1.05x 0.84x 1.07x 0.77x 0.92x 1.15x 1.1x 1.04x
EV / Revenue 0x 0x 0x 0x 0x 1.15x 1.1x 1.04x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 10.2x 9.2x 8.14x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 60 69 75 95 115 116 126.4 139.5
Rate of return 3.05% 3.39% 2.46% 3.99% 3.87% 2.88% 3.14% 3.47%
EPS 2 84.89 150.3 227.6 275 270.4 288.8 315.3 355.4
Distribution rate 70.7% 45.9% 33% 34.5% 42.5% 40.2% 40.1% 39.3%
Net sales 1 41,852 52,892 62,126 67,288 70,034 73,840 77,417 82,035
EBITDA 3,266 5,705 8,105 9,249 9,044 - - -
EBIT 1 1,968 4,366 6,585 7,526 7,084 8,300 9,237 10,445
Net income 1 1,905 3,330 4,969 6,003 5,879 6,047 6,683 7,550
Net Debt -15,805 -14,007 -11,566 -12,642 -14,085 - - -
Reference price 2 1,968.00 2,035.00 3,050.00 2,382.00 2,973.00 4,025.00 4,025.00 4,025.00
Nbr of stocks (in thousands) 22,371 21,832 21,832 21,832 21,562 21,123 - -
Announcement Date 5/13/22 5/12/23 5/15/24 5/15/25 5/14/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.93x - - 2.88% 541M
30.61x5.34x19.37x0.84% 120B
34.36x5.4x20.49x1.56% 96.45B
42.65x8.64x25.3x-.--% 61.98B
26.86x3.07x17.77x0.78% 58.68B
39.24x6.1x26.94x1.98% 56.84B
26.91x4.95x17.32x2.23% 35.29B
29.71x3.96x14.96x0.11% 29.14B
20.65x1.76x12.72x2.27% 30.04B
20.66x3.57x11.42x1.48% 28.85B
Average 28.56x 4.76x 18.48x 1.41% 51.83B
Weighted average by Cap. 31.82x 5.16x 19.72x 1.17%

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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