Company Valuation: Mazda Motor Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 572,547 771,705 1,106,098 593,916 655,381 725,428 - -
Change - 34.78% 43.33% -46.31% 10.35% 10.69% - -
Enterprise Value (EV) 1 509,612 678,702 759,324 77,236 200,655 308,210 226,537 168,770
Change - 33.18% 11.88% -89.83% 159.79% 53.6% -26.5% -25.5%
P/E 7.02x 5.4x 5.33x 5.21x 18.7x 7.19x 6x 5.49x
PBR 0.44x 0.54x 0.64x 0.33x 0.34x 0.38x 0.36x 0.35x
PEG - 0.1x 0.1x -0.1x -0.3x 0x 0.3x 0.59x
Capitalization / Revenue 0.18x 0.2x 0.23x 0.12x 0.13x 0.13x 0.13x 0.13x
EV / Revenue 0.16x 0.18x 0.16x 0.02x 0.04x 0.06x 0.04x 0.03x
EV / EBITDA 2.62x 2.74x 2.09x 0.25x 1.16x 1.15x 0.77x 0.53x
EV / EBIT 4.89x 4.78x 3.03x 0.41x 3.89x 2.17x 1.34x 0.91x
EV / FCF 9.63x 17.9x 2.55x 0.73x -2.25x 4.4x 3.44x 1.97x
FCF Yield 10.4% 5.6% 39.2% 137% -44.4% 22.7% 29.1% 50.8%
Dividend per Share 2 20 45 60 55 55 55.14 58.43 61.43
Rate of return 2.2% 3.67% 3.42% 5.84% 5.29% 4.8% 5.08% 5.34%
EPS 2 129.5 226.7 329.6 181 55.64 160 191.5 209.4
Distribution rate 15.4% 19.9% 18.2% 30.4% 98.8% 34.5% 30.5% 29.3%
Net sales 1 3,120,349 3,826,800 4,827,662 5,018,893 4,918,172 5,421,499 5,583,535 5,698,324
EBITDA 1 194,508 247,950 363,851 303,700 172,635 268,948 295,795 316,387
EBIT 1 104,227 142,000 250,503 186,125 51,579 142,297 169,274 184,684
Net income 1 81,557 142,800 207,696 114,079 35,086 100,967 120,792 132,125
Net Debt 1 -62,935 -93,003 -346,774 -516,680 -454,726 -417,218 -498,892 -556,658
Reference price 2 909.00 1,225.00 1,755.50 942.20 1,039.00 1,150.00 1,150.00 1,150.00
Nbr of stocks (in thousands) 629,865 629,963 630,076 630,350 630,780 630,807 - -
Announcement Date 5/13/22 5/12/23 5/10/24 5/12/25 5/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.19x0.06x1.15x4.8% 4.61B
9.61x1.25x11.3x3.41% 224B
7.74x0.35x2.82x0.88% 72.5B
8.45x1.23x13.99x3.12% 60.46B
12.36x0.28x3.54x4.74% 50.68B
23.68x1.37x7.68x2.26% 47.37B
7.68x0.07x0.7x7.65% 43.42B
11.21x0.67x9.26x4.1% 42.93B
4.31x-0x-0.01x7.15% 40.98B
8.42x-0.09x-0.74x4.37% 38.03B
Average 10.06x 0.52x 4.97x 4.25% 62.54B
Weighted average by Cap. 10.11x 0.78x 7.25x 3.77%

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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