Company Valuation: Keyence Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 13,290,446 14,612,193 17,289,660 14,777,076 14,328,389 18,844,201 - -
Change - 9.95% 18.32% -14.53% -3.04% 31.52% - -
Enterprise Value (EV) 1 12,285,874 13,671,735 16,156,884 13,557,842 12,834,500 17,094,674 16,894,825 16,629,297
Change - 11.28% 18.18% -16.09% -5.34% 33.19% -1.17% -1.57%
P/E 43.8x 40.3x 46.8x 37.1x 32.2x 37.1x 33.4x 29.8x
PBR 6.11x 5.86x 6.16x 4.75x 4.13x 4.94x 4.51x 4.07x
PEG - 2.1x 25.43x 4.73x 2.8x 2.6x 3x 2.5x
Capitalization / Revenue 17.6x 15.8x 17.9x 14x 12.3x 14.1x 12.8x 11.6x
EV / Revenue 16.3x 14.8x 16.7x 12.8x 11x 12.8x 11.5x 10.2x
EV / EBITDA 28.8x 26.8x 31.8x 24x 20.9x 23.6x 21.3x 18.8x
EV / EBIT 29.4x 27.4x 32.6x 24.7x 21.5x 24.5x 21.8x 19.3x
EV / FCF 47.2x 95x 111x 34.3x 108x 39x 35.2x 31.2x
FCF Yield 2.12% 1.05% 0.9% 2.91% 0.92% 2.56% 2.84% 3.2%
Dividend per Share 2 200 300 300 350 550 610.8 682.9 727.5
Rate of return 0.36% 0.5% 0.42% 0.57% 0.93% 0.79% 0.88% 0.94%
EPS 2 1,251 1,497 1,524 1,644 1,836 2,093 2,326 2,604
Distribution rate 16% 20% 19.7% 21.3% 30% 29.2% 29.4% 27.9%
Net sales 1 755,174 922,422 967,288 1,059,145 1,169,289 1,337,829 1,468,139 1,628,281
EBITDA 1 426,666 510,437 508,781 564,968 612,986 725,233 793,647 883,686
EBIT 1 418,045 498,914 495,014 549,775 595,759 697,167 773,923 863,052
Net income 1 303,360 362,963 369,642 398,656 445,185 507,056 562,629 627,994
Net Debt 1 -1,004,572 -940,458 -1,132,776 -1,219,234 -1,493,889 -1,749,528 -1,949,376 -2,214,905
Reference price 2 54,800.00 60,250.00 71,290.00 60,930.00 59,080.00 77,700.00 77,700.00 77,700.00
Nbr of stocks (in thousands) 242,526 242,526 242,526 242,525 242,525 242,525 - -
Announcement Date 4/27/22 4/27/23 4/25/24 4/25/25 4/24/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
76.9x11.21x53.95x0.98% 65.99B
35.94x1.69x19.22x-.--% 54.08B
37.68x2.92x15.12x0.84% 46.01B
42.55x2.25x19.25x1.36% 30.06B
30.51x4.63x18.49x-.--% 28.7B
9.27x5.3x9.35x2.37% 22.85B
39.41x6.09x24.35x0.65% 19.78B
27.03x2.87x11.73x1.83% 19.33B
40.78x2.01x18.33x0.42% 18.07B
Average 37.79x 4.33x 21.09x 0.94% 33.87B
Weighted average by Cap. 43.16x 4.92x 25.12x 0.83%

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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  5. Valuation Keyence Corporation
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