Company Valuation: M3, Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 3,033,456 2,241,071 1,451,044 1,155,714 1,071,551 1,139,971 - -
Change - -26.12% -35.25% -20.35% -7.28% 6.39% - -
Enterprise Value (EV) 1 2,892,240 2,133,134 1,311,648 1,045,201 948,523 1,001,143 971,806 940,058
Change - -26.25% -38.51% -20.31% -9.25% 5.55% -2.93% -3.27%
P/E 47.5x 45.7x 32x 28.5x 22.1x 21.4x 19.1x 17.2x
PBR 11.8x 7.43x 4.14x 3.07x 2.64x 2.63x 2.39x 2.17x
PEG - -2x -4.17x -2.7x 1x 2.1x 1.6x 1.5x
Capitalization / Revenue 14.6x 9.71x 6.07x 4.06x 3.05x 2.92x 2.68x 2.44x
EV / Revenue 13.9x 9.24x 5.49x 3.67x 2.7x 2.57x 2.28x 2.02x
EV / EBITDA 28.5x 26.9x 17.9x 13.9x 10.4x 10.7x 9.07x 7.9x
EV / EBIT 30.4x 29.6x 20.4x 16.6x 12.9x 12.4x 10.8x 9.46x
EV / FCF 101x 60.6x 25.5x 83x 17.4x 21.3x 16.5x 14.7x
FCF Yield 0.99% 1.65% 3.91% 1.2% 5.73% 4.69% 6.05% 6.81%
Dividend per Share 2 16 19 21 21 22 23.46 26.66 28.62
Rate of return 0.36% 0.58% 0.98% 1.23% 1.37% 1.37% 1.56% 1.68%
EPS 2 94.06 72.22 66.68 59.62 72.53 79.83 89.32 99.53
Distribution rate 17% 26.3% 31.5% 35.2% 30.3% 29.4% 29.8% 28.8%
Net sales 1 208,159 230,818 238,883 284,900 351,363 389,903 425,558 466,521
EBITDA 1 101,415 79,417 73,259 75,176 90,776 93,254 107,195 119,046
EBIT 1 95,141 71,983 64,381 62,971 73,547 80,573 89,688 99,420
Net income 1 63,845 49,028 45,271 40,484 49,100 52,920 58,928 65,636
Net Debt 1 -141,216 -107,937 -139,396 -110,513 -123,028 -138,827 -168,164 -199,912
Reference price 2 4,469.00 3,301.00 2,137.00 1,702.00 1,605.50 1,708.00 1,708.00 1,708.00
Nbr of stocks (in thousands) 678,777 678,907 679,010 679,033 667,425 667,430 - -
Announcement Date 4/27/22 4/28/23 4/26/24 5/2/25 5/1/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.82x4.21x9.72x1.29% 523B
22.2x6.57x19.73x-.--% 331B
24.02x2.82x14.34x-.--% 161B
35.4x7.03x19.77x-.--% 110B
37.46x4.37x28.89x-.--% 110B
3.02x81.86x2.28x0.14% 107B
86.51x5.15x24.59x-.--% 96.84B
10.59x8.06x94.05x0.63% 94.47B
8.48x2.73x59.22x0.73% 36.95B
Average 27.06x 13.64x 30.29x 0.31% 174.53B
Weighted average by Cap. 23.90x 10.30x 21.00x 0.49%

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