Company Valuation: Keio Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 584,249 567,206 509,439 450,232 446,494 459,807 - -
Change - -2.92% -10.18% -11.62% -0.83% 2.98% - -
Enterprise Value (EV) 1 892,560 898,828 871,727 848,913 857,769 899,876 937,300 973,512
Change - 0.7% -3.02% -2.62% 1.04% 4.91% 4.16% 3.86%
P/E 105x 43.2x 17.4x 10.8x 10.6x 10.8x 11.4x 11.4x
PBR 1.71x 1.61x 1.3x 1.09x 1.01x 0.97x 0.91x 0.88x
PEG - 0x 0x 0.2x 3.33x 20.46x -2.36x -13.63x
Capitalization / Revenue 1.95x 1.63x 1.25x 0.99x 0.9x 0.9x 0.85x 0.84x
EV / Revenue 2.98x 2.59x 2.13x 1.87x 1.73x 1.76x 1.74x 1.79x
EV / EBITDA 28x 17.8x 11.7x 9.76x 9.87x 9.92x 9.79x 9.67x
EV / EBIT 1,206x 41.8x 19.9x 15.7x 16.4x 17.4x 16.9x 16.9x
EV / FCF 64.2x -52.9x 89.2x -89.4x 598x -38.7x -88.7x -118x
FCF Yield 1.56% -1.89% 1.12% -1.12% 0.17% -2.59% -1.13% -0.84%
Dividend per Share 2 8 8 10.5 20 110 22.2 23.08 24.12
Rate of return 0.84% 0.86% 1.26% 2.63% 14.3% 2.8% 2.91% 3.04%
EPS 2 9.15 21.48 47.9 70.75 73 73.39 69.85 69.26
Distribution rate 87.4% 37.2% 21.9% 28.3% 151% 30.3% 33% 34.8%
Net sales 1 299,872 347,133 408,694 452,916 496,939 510,420 539,080 544,925
EBITDA 1 31,904 50,606 74,483 86,958 86,914 90,676 95,726 100,694
EBIT 1 740 21,479 43,840 54,148 52,322 51,760 55,600 57,725
Net income 1 5,585 13,114 29,243 42,857 42,929 42,200 39,620 38,925
Net Debt 1 308,311 331,622 362,288 398,681 411,275 440,070 477,494 513,705
Reference price 2 957.00 929.00 834.40 761.40 771.30 792.80 792.80 792.80
Nbr of stocks (in thousands) 610,500 610,555 610,545 591,321 578,885 578,883 - -
Announcement Date 5/2/22 5/12/23 5/10/24 5/12/25 5/13/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.8x1.76x9.91x2.8% 2.98B
7.51x3.91x8.18x0.84% 23.65B
13.16x1.58x8.06x3.24% 8.85B
13.27x1.98x12.83x2.21% 7.01B
10.38x1.98x11.1x1.93% 6.11B
14.96x3x14.82x1.71% 4.37B
13.59x0.94x10.71x1.9% 4.29B
15.35x2.92x12.77x3.34% 3.99B
24.75x5.95x18.45x2.01% 3.91B
10.16x1.96x10.34x2.56% 3.72B
Average 13.39x 2.60x 11.72x 2.25% 6.89B
Weighted average by Cap. 11.65x 2.86x 10.52x 1.9%

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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