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 1,181,344 - -
Change - -15.17% 92.68% -17.65% 74.57% 76.25% - -
Enterprise Value (EV) 1 228,403 167,827 391,854 302,019 572,172 1,066,699 1,038,260 1,014,129
Change - -26.52% 133.49% -22.93% 89.45% 86.43% -2.67% -2.32%
P/E 13.4x 7.1x 11.6x 11.4x 18.1x 24.3x 21.5x 19.9x
PBR 1.4x 1.01x 1.65x 1.22x 1.93x 3.16x 2.86x 2.62x
PEG - 0.1x 0.6x -0.7x 1.7x 0.8x 1.6x 2.42x
Capitalization / Revenue 1.27x 0.9x 1.6x 1.21x 2.01x 3.19x 2.97x 2.83x
EV / Revenue 1.02x 0.62x 1.35x 0.95x 1.72x 2.88x 2.61x 2.43x
EV / EBITDA 5.42x 2.96x 6.6x 4.95x 8.64x 13x 11.7x 10.6x
EV / EBIT 7.13x 3.66x 8.29x 6.25x 10.8x 15.7x 13.5x 12.1x
EV / FCF 11.1x 7.23x 42x 14.4x 21.2x 39.5x 29.5x 18.7x
FCF Yield 9.02% 13.8% 2.38% 6.93% 4.71% 2.53% 3.39% 5.35%
Dividend per Share 2 150 245 290 270 450 437.5 454.2 486
Rate of return 2.22% 4.28% 2.63% 2.95% 2.82% 1.56% 1.61% 1.73%
EPS 2 505 807.1 953.7 799.4 883.5 1,156 1,309 1,416
Distribution rate 29.7% 30.4% 30.4% 33.8% 50.9% 37.8% 34.7% 34.3%
Net sales 1 224,314 270,133 290,558 317,369 333,081 369,865 397,894 416,704
EBITDA 1 42,109 56,754 59,393 60,993 66,220 82,167 88,681 96,077
EBIT 1 32,046 45,843 47,296 48,340 53,040 67,837 77,047 83,751
Net income 1 21,311 34,072 40,302 33,591 37,090 48,608 55,004 59,534
Net Debt 1 -56,851 -74,149 -74,381 -81,930 -98,084 -114,645 -143,084 -167,215
Reference price 2 6,760.00 5,730.00 11,030.00 9,152.00 15,960.00 28,130.00 28,130.00 28,130.00
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.($)
24.72x2.94x13.21x1.53% 7.43B
49.76x8.87x28.05x-.--% 61.53B
50.84x6.43x24.11x0.24% 27.71B
291.23x - - - 17.11B
46.65x9.65x34.68x0.52% 11.07B
196.27x17.93x96.25x0.22% 10.83B
57.32x6.96x26.89x - 9.19B
202.22x - - - 8.83B
51.48x - - - 8.74B
38.47x4.06x20.34x0.26% 8.23B
Average 100.90x 8.12x 34.79x 0.46% 17.07B
Weighted average by Cap. 89.98x 8.41x 31.86x 0.22%

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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