Company Valuation: Lion Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 446,857 430,328 372,218 487,133 456,200 498,061 - -
Change - -3.7% -13.5% 30.87% -6.35% 9.18% - -
Enterprise Value (EV) 1 351,410 361,419 317,033 414,533 396,358 409,482 406,513 383,844
Change - 2.85% -12.28% 30.75% -4.38% 3.31% -0.73% -5.58%
P/E 18.8x 19.7x 25.4x 23x 16.5x 19.9x 18.9x 17.3x
PBR 1.78x 1.63x 1.33x 1.66x 1.41x 1.49x 1.41x 1.32x
PEG - -3.43x -0.8x 0.5x 0.5x -2.48x 3.36x 1.87x
Capitalization / Revenue 1.22x 1.1x 0.92x 1.18x 1.08x 1.13x 1.12x 1.09x
EV / Revenue 0.96x 0.93x 0.79x 1x 0.94x 0.93x 0.91x 0.84x
EV / EBITDA 7.79x 9.06x 8.34x 9.19x 8.04x 7.09x 6.74x 6.03x
EV / EBIT 11.3x 12.5x 15.5x 15.7x 12.9x 11.3x 10.5x 9.16x
EV / FCF -19.5x 16.1x -67.1x 11.5x -141x 16.9x 11.5x 10.1x
FCF Yield -5.12% 6.21% -1.49% 8.68% -0.71% 5.93% 8.67% 9.87%
Dividend per Share 2 24 25 26 27 30 34 36.08 38.18
Rate of return 1.56% 1.65% 1.99% 1.53% 1.82% 1.86% 1.97% 2.09%
EPS 2 81.73 77.04 51.42 76.51 99.74 91.74 96.9 105.9
Distribution rate 29.4% 32.5% 50.6% 35.3% 30.1% 37.1% 37.2% 36.1%
Net sales 1 366,200 389,800 402,700 412,943 422,000 439,921 445,335 456,837
EBITDA 1 45,100 39,900 38,000 45,100 49,300 57,791 60,335 63,628
EBIT 1 31,100 28,800 20,500 26,332 30,700 36,323 38,693 41,899
Net income 1 23,700 21,900 14,600 21,197 27,500 25,347 26,639 28,962
Net Debt 1 -95,447 -68,909 -55,185 -72,600 -59,842 -88,578 -91,548 -114,217
Reference price 2 1,537.00 1,514.00 1,308.50 1,762.50 1,649.00 1,828.50 1,828.50 1,828.50
Nbr of stocks (in thousands) 290,733 284,233 284,462 276,388 276,653 276,700 - -
Announcement Date 2/14/22 2/13/23 2/14/24 2/13/25 2/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.93x0.95x7.22x1.86% 3.24B
17.66x3.14x11.3x4.24% 43.91B
26.55x4.03x17.21x1.26% 23.38B
16.18x2.11x11.51x5.49% 11.25B
13.49x1.58x8.96x4.19% 4.61B
15.06x1.74x10.41x9.79% 3.64B
33.53x4.13x22.48x - 2.79B
28.47x2.2x19.57x1.85% 783M
Average 21.36x 2.49x 13.58x 4.1% 11.7B
Weighted average by Cap. 20.04x 3.05x 12.91x 3.74%

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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