Company Valuation: GMO internet group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 299,022 263,183 272,092 280,693 396,058 429,495 - -
Change - -11.99% 3.38% 3.16% 41.1% 8.44% - -
Enterprise Value (EV) 1 353,549 312,373 352,207 366,397 226,810 529,057 385,404 429,495
Change - -11.65% 12.75% 4.03% -38.1% 133.26% -27.15% 11.44%
P/E 17x 20x 19.2x 21.2x 24.9x 22x 16.8x 16.6x
PBR 4.05x 3.65x 3.3x 3.25x 3.87x 4.87x 4.26x 3.72x
PEG - -0.9x 2.34x -4.16x 1x 0.9x 0.5x 16.07x
Capitalization / Revenue 1.24x 1.07x 1.05x 1.01x 1.39x 1.39x 1.28x 1.2x
EV / Revenue 1.46x 1.27x 1.36x 1.32x 0.79x 1.72x 1.15x 1.2x
EV / EBITDA 6.99x 5.44x 6.28x 5.95x 3x 6.51x 4.15x -
EV / EBIT 8.6x 7.14x 8.29x 7.85x 3.97x 7.96x 4.87x 4.75x
EV / FCF -4.68x 11x -243x 27.7x 4.04x 10.2x 6.62x 7.18x
FCF Yield -21.4% 9.11% -0.41% 3.61% 24.8% 9.85% 15.1% 13.9%
Dividend per Share 2 52.7 47.6 44.1 41.8 52 74 84.98 86.5
Rate of return 1.94% 1.93% 1.72% 1.56% 1.33% 1.7% 1.96% 1.99%
EPS 2 159.7 123.2 133.3 126.5 157.6 197.3 258.7 261.4
Distribution rate 33% 38.6% 33.1% 33% 33% 37.5% 32.8% 33.1%
Net sales 1 241,446 245,696 258,643 277,407 285,626 308,400 334,519 358,900
EBITDA 1 50,613 57,412 56,051 61,607 75,651 81,250 92,850 -
EBIT 1 41,097 43,746 42,471 46,653 57,170 66,500 79,104 90,500
Net income 1 17,527 13,209 14,191 13,373 16,102 19,500 25,218 25,400
Net Debt 1 54,527 49,190 80,115 85,704 -169,248 99,562 -44,091 -
Reference price 2 2,715.00 2,466.00 2,563.00 2,680.00 3,918.00 4,343.00 4,343.00 4,343.00
Nbr of stocks (in thousands) 110,137 106,725 106,161 104,736 101,087 98,894 - -
Announcement Date 2/10/22 2/13/23 2/13/24 2/12/25 2/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.01x1.72x6.51x1.7% 2.7B
15.26x4.07x9.33x1.36% 503B
21.81x6.45x19.38x-.--% 325B
23.15x2.72x13.83x-.--% 155B
34.79x6.9x19.41x-.--% 109B
2.98x94.15x2.85x0.13% 108B
36.29x4.22x27.9x-.--% 105B
84.95x5x23.86x-.--% 94.03B
10.34x7.81x91.18x0.65% 91.49B
8.41x2.71x58.74x0.75% 36.66B
Average 26.00x 13.57x 27.30x 0.46% 153.03B
Weighted average by Cap. 23.26x 11.22x 20.43x 0.52%

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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