Company Valuation: HORIBA, Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 285,254 241,976 466,235 383,949 670,256 1,140,818 - -
Change - -15.17% 92.68% -17.65% 74.57% 70.21% - -
Enterprise Value (EV) 1 228,403 167,827 391,854 302,019 572,172 1,046,337 1,025,001 1,002,806
Change - -26.52% 133.49% -22.93% 89.45% 82.87% -2.04% -2.17%
P/E 13.4x 7.1x 11.6x 11.4x 18.1x 22.9x 19.9x 18x
PBR 1.4x 1.01x 1.65x 1.22x 1.93x 3.03x 2.74x 2.5x
PEG - 0.1x 0.6x -0.7x 1.7x 0.7x 1.3x 1.8x
Capitalization / Revenue 1.27x 0.9x 1.6x 1.21x 2.01x 3.02x 2.8x 2.65x
EV / Revenue 1.02x 0.62x 1.35x 0.95x 1.72x 2.77x 2.52x 2.33x
EV / EBITDA 5.42x 2.96x 6.6x 4.95x 8.64x 12.2x 10.8x 9.64x
EV / EBIT 7.13x 3.66x 8.29x 6.25x 10.8x 15x 12.7x 11.3x
EV / FCF 11.1x 7.23x 42x 14.4x 21.2x 42.7x 37.9x 17.3x
FCF Yield 9.02% 13.8% 2.38% 6.93% 4.71% 2.34% 2.64% 5.79%
Dividend per Share 2 150 245 290 270 450 444.3 483.3 518
Rate of return 2.22% 4.28% 2.63% 2.95% 2.82% 1.64% 1.78% 1.91%
EPS 2 505 807.1 953.7 799.4 883.5 1,187 1,368 1,505
Distribution rate 29.7% 30.4% 30.4% 33.8% 50.9% 37.4% 35.3% 34.4%
Net sales 1 224,314 270,133 290,558 317,369 333,081 378,283 407,180 430,204
EBITDA 1 42,109 56,754 59,393 60,993 66,220 85,667 94,931 104,077
EBIT 1 32,046 45,843 47,296 48,340 53,040 69,670 80,618 89,084
Net income 1 21,311 34,072 40,302 33,591 37,090 49,892 57,504 63,268
Net Debt 1 -56,851 -74,149 -74,381 -81,930 -98,084 -94,481 -115,818 -138,012
Reference price 2 6,760.00 5,730.00 11,030.00 9,152.00 15,960.00 27,165.00 27,165.00 27,165.00
Nbr of stocks (in thousands) 42,197 42,230 42,270 41,952 41,996 41,996 - -
Announcement Date 2/14/22 2/14/23 2/14/24 2/13/25 2/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.66x2.74x12.08x1.65% 6.93B
45.35x8.08x25.54x-.--% 56.07B
42.8x5.52x20.6x0.29% 23.33B
321.46x - - - 19.05B
43.99x9.08x32.6x0.55% 10.47B
185.64x15.32x82.51x-.--% 10.15B
53.48x6.5x26.45x - 8.61B
36.91x3.93x19.63x0.27% 7.95B
173.74x - - - 7.61B
Average 102.89x 7.31x 31.34x 0.46% 16.69B
Weighted average by Cap. 94.85x 7.60x 28.82x 0.23%

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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