Company Valuation: Future Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 155,110 145,855 156,350 164,138 175,844 215,181 - -
Change - -5.97% 7.2% 4.98% 7.13% 22.37% - -
Enterprise Value (EV) 132,680 118,203 128,135 149,620 158,043 215,181 215,181 215,181
Change - -10.91% 8.4% 16.77% 5.63% 36.15% 0% 0%
P/E 24.4x 15.8x 17x 15.9x 15x 17.5x 14.5x 13.6x
PBR 3.71x 3.25x 3.04x 2.96x 2.8x 3.03x 2.65x 2.34x
PEG - 0.4x -88.67x 1.3x 1.1x 3.46x 0.7x 2.12x
Capitalization / Revenue 3.19x 2.71x 2.64x 2.35x 2.31x 2.65x 2.37x 2.23x
EV / Revenue 0x 0x 0x 0x 0x 2.65x 2.37x 2.23x
EV / EBITDA 0x 0x - 0x 0x 10.5x 8.65x 8.3x
EV / EBIT 0x 0x 0x 0x 0x 12.2x 10.1x 9.51x
EV / FCF - 0x 0x -0x 0x 23.9x 17.1x 15.8x
FCF Yield - 6.28% 3.75% -5.92% 3.46% 4.19% 5.86% 6.34%
Dividend per Share 2 25.5 37 40 42 46 48 57 60.67
Rate of return 1.45% 2.25% 2.27% 2.27% 2.32% 1.98% 2.35% 2.5%
EPS 2 71.97 104.3 104.1 116.5 132.1 138.8 167 177.7
Distribution rate 35.4% 35.5% 38.4% 36.1% 34.8% 34.6% 34.1% 34.1%
Net sales 1 48,698 53,738 59,324 69,878 75,993 81,214 90,620 96,687
EBITDA 1 10,146 13,474 - 16,700 18,571 20,425 24,865 25,940
EBIT 1 9,000 12,229 13,700 14,667 16,176 17,691 21,250 22,633
Net income 1 6,369 9,236 9,221 10,322 11,712 12,312 14,810 15,760
Net Debt -22,430 -27,652 -28,215 -14,518 -17,801 - - -
Reference price 2 1,753.00 1,647.00 1,765.00 1,852.00 1,983.00 2,425.00 2,425.00 2,425.00
Nbr of stocks (in thousands) 88,483 88,558 88,584 88,628 88,676 88,735 - -
Announcement Date 2/8/22 2/7/23 2/6/24 2/4/25 2/5/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.47x - - 1.98% 1.37B
23.54x8.05x14.28x1.18% 22.02B
19.63x3.67x9.23x1.41% 18.45B
23.78x0.73x7.26x1.5% 12.56B
20.66x0.8x10.61x2.84% 8.82B
15.5x1.39x7.72x1.3% 4.9B
21.63x1.49x9.97x2.31% 4.52B
72.43x2.77x48.72x0.65% 2.24B
23x0.83x9.34x0.8% 1.71B
Average 26.40x 2.47x 14.64x 1.55% 8.51B
Weighted average by Cap. 22.99x 3.76x 11.67x 1.54%

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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