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 19,152,206 - -
Change - 9.95% 18.32% -14.53% -3.04% 33.67% - -
Enterprise Value (EV) 1 12,285,874 13,671,735 16,156,884 13,557,842 12,834,500 17,561,338 17,291,820 16,944,724
Change - 11.28% 18.18% -16.09% -5.34% 36.83% -1.53% -2.01%
P/E 43.8x 40.3x 46.8x 37.1x 32.2x 35.3x 32x 28.8x
PBR 6.11x 5.86x 6.16x 4.75x 4.13x 4.98x 4.53x 4.09x
PEG - 2.1x 25.43x 4.73x 2.8x 1.6x 3.2x 2.6x
Capitalization / Revenue 17.6x 15.8x 17.9x 14x 12.3x 13.6x 12.3x 11.1x
EV / Revenue 16.3x 14.8x 16.7x 12.8x 11x 12.4x 11.1x 9.85x
EV / EBITDA 28.8x 26.8x 31.8x 24x 20.9x 22.9x 20.5x 18.1x
EV / EBIT 29.4x 27.4x 32.6x 24.7x 21.5x 23.6x 21.1x 18.6x
EV / FCF 47.2x 95x 111x 34.3x 108x 40.3x 33.7x 29.5x
FCF Yield 2.12% 1.05% 0.9% 2.91% 0.92% 2.48% 2.96% 3.39%
Dividend per Share 2 200 300 300 350 550 622 721.3 810
Rate of return 0.36% 0.5% 0.42% 0.57% 0.93% 0.79% 0.91% 1.03%
EPS 2 1,251 1,497 1,524 1,644 1,836 2,239 2,465 2,743
Distribution rate 16% 20% 19.7% 21.3% 30% 27.8% 29.3% 29.5%
Net sales 1 755,174 922,422 967,288 1,059,145 1,169,289 1,410,877 1,557,836 1,719,919
EBITDA 1 426,666 510,437 508,781 564,968 612,986 768,058 844,403 937,301
EBIT 1 418,045 498,914 495,014 549,775 595,759 744,697 820,640 909,687
Net income 1 303,360 362,963 369,642 398,656 445,185 542,464 596,257 661,832
Net Debt 1 -1,004,572 -940,458 -1,132,776 -1,219,234 -1,493,889 -1,590,868 -1,860,386 -2,207,482
Reference price 2 54,800.00 60,250.00 71,290.00 60,930.00 59,080.00 78,970.00 78,970.00 78,970.00
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.($)
42.29x6.35x29.79x1.87% 38.81B
25.31x1.15x13.63x-.--% 37.74B
22.62x1.83x8.78x1.47% 31.81B
30.23x4.62x18.41x-.--% 29.27B
33.26x2.17x15.45x1.55% 28.83B
10.75x6.09x16.91x1.2% 26.48B
29.8x4.57x18.28x0.77% 17.11B
28.84x1.56x13.62x0.44% 13.79B
22.91x2.59x11.65x-.--% 13.48B
Average 27.33x 3.44x 16.28x 0.81% 26.37B
Weighted average by Cap. 28.07x 3.55x 17.02x 0.9%

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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