Company Valuation: Future Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 155,110 145,855 156,350 164,138 175,844 217,133 - -
Change - -5.97% 7.2% 4.98% 7.13% 23.48% - -
Enterprise Value (EV) 132,680 118,203 128,135 149,620 158,043 217,133 217,133 217,133
Change - -10.91% 8.4% 16.77% 5.63% 37.39% 0% 0%
P/E 24.4x 15.8x 17x 15.9x 15x 17.6x 14.7x 13.8x
PBR 3.71x 3.25x 3.04x 2.96x 2.8x 3.06x 2.67x 2.36x
PEG - 0.4x -88.67x 1.3x 1.1x 3.48x 0.7x 2.15x
Capitalization / Revenue 3.19x 2.71x 2.64x 2.35x 2.31x 2.67x 2.4x 2.25x
EV / Revenue 0x 0x 0x 0x 0x 2.67x 2.4x 2.25x
EV / EBITDA 0x 0x - 0x 0x 10.6x 8.73x 8.37x
EV / EBIT 0x 0x 0x 0x 0x 12.3x 10.2x 9.59x
EV / FCF - 0x 0x -0x 0x 24.1x 17.2x 15.9x
FCF Yield - 6.28% 3.75% -5.92% 3.46% 4.15% 5.8% 6.28%
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% 1.96% 2.33% 2.48%
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 2,447.00 2,447.00 2,447.00
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.64x - - 1.96% 1.36B
26.93x9.04x16.04x1.03% 25.22B
20.71x3.82x9.61x1.31% 19.47B
25.88x0.83x8.22x1.38% 13.56B
20.42x0.78x10.42x2.84% 8.57B
16.1x1.45x8.06x1.25% 5.18B
22.54x1.61x10.7x2.21% 4.62B
78.44x3.03x53.14x0.6% 2.4B
41.37x1.07x18.66x0.51% 1.88B
17.56x - - - 1.58B
Average 28.76x 2.71x 16.86x 1.45% 8.38B
Weighted average by Cap. 25.21x 4.26x 12.93x 1.42%

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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