Company Valuation: Innovation Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 7,787 5,135 3,957 3,445 2,964 2,435
Change - -34.05% -22.95% -12.93% -13.97% -17.85%
Enterprise Value (EV) 1 5,790 2,955 1,662 464.1 1,988 1,583
Change - -48.96% -43.77% -72.07% 328.3% -20.38%
P/E 24.8x 11.5x 63.3x 13.8x 44.5x -5.29x
PBR 3.1x 1.72x 1.25x 0.98x 0.88x 0.84x
PEG - 0.3x -0.7x 0x -0.6x 0x
Capitalization / Revenue 2.53x 1.17x 0.87x 0.72x 0.55x 0.35x
EV / Revenue 1.88x 0.67x 0.36x 0.1x 0.37x 0.23x
EV / EBITDA 10.4x 3.59x 4.11x 1.02x 4.71x 7.72x
EV / EBIT 11.2x 3.8x 4.84x 1.16x 5.65x -6.38x
EV / FCF 21x 10x 23x 1.62x 8.05x -93.1x
FCF Yield 4.76% 9.99% 4.36% 61.6% 12.4% -1.07%
Dividend per Share 2 - 38 39 40 40 40
Rate of return - 1.74% 2.45% 3.07% 3.57% 4.41%
EPS 2 133.8 189.3 25.13 94.19 25.17 -171.4
Distribution rate - 20.1% 155% 42.5% 159% -23.3%
Net sales 1 3,083 4,380 4,570 4,813 5,343 6,968
EBITDA 1 555 823 404 456 422 205
EBIT 1 518 778 343 400 352 -248
Net income 1 293 448 62 244 67 -457
Net Debt 1 -1,997 -2,180 -2,295 -2,981 -976 -852
Reference price 2 3,320.00 2,180.00 1,590.00 1,302.00 1,120.00 907.00
Nbr of stocks (in thousands) 2,345 2,356 2,489 2,646 2,646 2,684
Announcement Date 6/25/21 6/24/22 6/28/23 6/28/24 6/24/25 6/23/26
1JPY in Million2JPY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 13.82M
16.65x8.13x17.36x0.25% 4,184B
23.36x7.38x12.98x0.29% 1,855B
28.25x13.25x20.94x0.64% 484B
14.53x3.88x8.97x1.4% 483B
18.71x5.55x16.66x-.--% 279B
20.59x1.49x10.26x1.03% 263B
94.21x12.39x66.51x-.--% 195B
21.41x2.45x12.44x-.--% 139B
3.08x86.09x2.34x0.13% 114B
Average 26.75x 15.62x 18.72x 0.42% 799.49B
Weighted average by Cap. 20.76x 8.81x 16.70x 0.36%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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