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 11,147,889 - -
Change - -0.91% 5.77% 0.52% 10.46% 7.52% - -
Enterprise Value (EV) 1 9,321,873 9,601,040 10,435,503 12,872,948 14,665,121 15,098,807 15,127,157 15,092,084
Change - 2.99% 8.69% 23.36% 13.92% 2.96% 0.19% -0.23%
P/E 13.3x 13.2x 14.9x 13.9x 14.8x 14.7x 13.7x 12.7x
PBR 1.78x 1.72x 1.78x 1.87x 2.04x 2.07x 1.94x 1.81x
PEG - 3.88x -5.14x 1.1x 1.76x 1.7x 1.86x 1.6x
Capitalization / Revenue 1.64x 1.56x 1.62x 1.59x 1.71x 1.76x 1.69x 1.63x
EV / Revenue 1.71x 1.69x 1.81x 2.18x 2.42x 2.38x 2.3x 2.21x
EV / EBITDA 5.21x 5.42x 6.33x 7.13x 8.2x 7.85x 7.55x 7.23x
EV / EBIT 8.79x 8.92x 10.9x 11.5x 13.3x 12.4x 11.9x 11.3x
EV / FCF 13.2x 27.7x 11.9x 187x 13.2x 17.2x 21.1x 20.4x
FCF Yield 7.58% 3.61% 8.38% 0.54% 7.57% 5.8% 4.73% 4.91%
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% 2.87% 3.05% 3.23%
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 2,928.00 2,928.00 2,928.00
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.7x2.38x7.85x2.88% 70.59B
-3039.51x44.42x95.73x - 2,026B
32.2x6.49x26.87x0.18% 218B
14.88x2.73x6.9x2.55% 175B
10.42x2.42x6.5x4.53% 168B
27.73x5.07x8.89x1.87% 115B
7.22x1.31x4.75x6.14% 76.65B
19.08x2.17x8.28x3.74% 72.81B
14.58x1.43x4.86x3.35% 37.67B
19.41x5.36x9.77x4.88% 30.9B
Average -287.93x 7.38x 18.04x 3.35% 299.03B
Weighted average by Cap. -2,052.66x 31.27x 68.59x 2.78%

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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