Company Valuation: KDDI Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 8,910,365 8,829,098 9,338,327 9,387,118 10,368,578 11,027,957 - -
Change - -0.91% 5.77% 0.52% 10.46% 6.36% - -
Enterprise Value (EV) 1 9,321,873 9,601,040 10,435,503 12,872,948 14,665,121 14,978,875 15,007,226 14,972,153
Change - 2.99% 8.69% 23.36% 13.92% 2.14% 0.19% -0.23%
P/E 13.3x 13.2x 14.9x 13.9x 14.8x 14.5x 13.5x 12.5x
PBR 1.78x 1.72x 1.78x 1.87x 2.04x 2.05x 1.92x 1.79x
PEG - 3.88x -5.14x 1.1x 1.76x 1.68x 1.83x 1.57x
Capitalization / Revenue 1.64x 1.56x 1.62x 1.59x 1.71x 1.74x 1.68x 1.62x
EV / Revenue 1.71x 1.69x 1.81x 2.18x 2.42x 2.36x 2.28x 2.19x
EV / EBITDA 5.21x 5.42x 6.33x 7.13x 8.2x 7.79x 7.49x 7.18x
EV / EBIT 8.79x 8.92x 10.9x 11.5x 13.3x 12.3x 11.8x 11.2x
EV / FCF 13.2x 27.7x 11.9x 187x 13.2x 17.1x 21x 20.2x
FCF Yield 7.58% 3.61% 8.38% 0.54% 7.57% 5.85% 4.77% 4.95%
Dividend per Share 2 62.5 67.5 70 72.5 80 84.07 89.25 94.69
Rate of return 3.12% 3.3% 3.12% 3.07% 2.94% 2.9% 3.08% 3.27%
EPS 2 150 155.1 150.6 169.3 183.6 199.4 214.1 231.2
Distribution rate 41.7% 43.5% 46.5% 42.8% 43.6% 42.2% 41.7% 41%
Net sales 1 5,446,708 5,671,762 5,754,047 5,917,953 6,071,915 6,345,137 6,582,785 6,821,573
EBITDA 1 1,788,693 1,772,901 1,648,933 1,805,462 1,787,396 1,923,082 2,002,561 2,086,135
EBIT 1 1,060,592 1,075,749 961,584 1,118,674 1,099,125 1,212,925 1,272,296 1,340,671
Net income 1 672,486 677,469 637,874 685,677 707,112 754,343 783,623 825,994
Net Debt 1 411,508 771,942 1,097,176 3,485,830 4,296,543 3,950,918 3,979,269 3,944,196
Reference price 2 2,002.50 2,046.50 2,241.00 2,359.50 2,723.50 2,896.50 2,896.50 2,896.50
Nbr of stocks (in thousands) 4,449,621 4,314,243 4,167,036 3,978,435 3,807,078 3,807,339 - -
Announcement Date 5/13/22 5/11/23 5/10/24 5/14/25 5/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
2129.12x47.29x97.17x - 2,158B
33.67x6.67x27.63x0.17% 228B
14.94x2.74x6.92x2.54% 176B
10.34x2.42x6.48x4.57% 167B
27.14x4.98x8.73x1.91% 113B
7.2x1.31x4.75x6.15% 76.54B
18.73x2.16x8.17x3.78% 72.15B
14.52x2.36x7.79x2.9% 69.92B
13.93x1.45x4.94x3.25% 38.63B
Average 252.18x 7.93x 19.18x 3.16% 344.2B
Weighted average by Cap. 1,488.88x 34.05x 71.31x 2.69%

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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