Company Valuation: Estic Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 11,886 10,849 8,337 9,212 8,972 10,347
Change - -8.73% -23.15% 10.49% -2.6% 15.32%
Enterprise Value (EV) 1 10,682 8,827 6,162 7,699 5,646 7,662
Change - -17.37% -30.19% 24.94% -26.66% 35.7%
P/E 16.3x 13.2x 7.72x 8.13x 7.59x 8.89x
PBR 1.84x 1.5x 1.01x 1x 0.86x 0.92x
PEG - 1.1x 0.2x 1.66x 1.84x -5.48x
Capitalization / Revenue 2.25x 1.89x 1.24x 1.29x 1.14x 1.29x
EV / Revenue 2.02x 1.53x 0.92x 1.08x 0.72x 0.95x
EV / EBITDA 8.88x 7.13x 3.85x 4.69x 3.1x 4.39x
EV / EBIT 10.1x 7.87x 4.15x 5.17x 3.45x 4.86x
EV / FCF 13.3x 11.1x 33x -11.5x 3.31x -14x
FCF Yield 7.54% 9.01% 3.03% -8.67% 30.2% -7.12%
Dividend per Share 2 15.25 - 23 25 28 -
Rate of return 1.27% - 2.74% 2.7% 3.11% -
EPS 2 73.52 82.64 108.6 113.9 118.6 116.7
Distribution rate 20.7% - 21.2% 21.9% 23.6% -
Net sales 1 5,294 5,754 6,718 7,127 7,881 8,033
EBITDA 1 1,203 1,238 1,600 1,640 1,824 1,745
EBIT 1 1,056 1,121 1,484 1,490 1,638 1,575
Net income 1 729 820 1,079 1,133 1,181 1,163
Net Debt 1 -1,204 -2,022 -2,175 -1,513 -3,326 -2,685
Reference price 2 1,198.75 1,093.00 839.00 926.00 901.00 1,038.00
Nbr of stocks (in thousands) 9,916 9,926 9,937 9,948 9,958 9,968
Announcement Date 6/17/21 6/17/22 6/19/23 6/19/24 6/19/25 6/17/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 64.72M
35.69x6.12x22.79x0.76% 122B
35x6.56x22.57x1.73% 42.98B
33.38x4.3x15.89x0.11% 31.55B
21.15x1.75x12.9x2.3% 30B
26.17x4.16x13.97x1.39% 29.48B
23.74x3.47x14.94x0.99% 28.92B
26.17x3.14x13.69x1.44% 28.39B
110.88x7.54x39.69x - 27.13B
27.14x3.49x16.71x1.68% 24.96B
Average 37.70x 4.50x 19.24x 1.3% 36.59B
Weighted average by Cap. 36.76x 4.99x 20.16x 1.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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