Company Valuation: Mitsubishi Electric Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,618,025 2,977,377 3,332,868 5,245,533 5,644,895 13,219,411 - -
Change - -17.71% 11.94% 57.39% 7.61% 134.18% - -
Enterprise Value (EV) 1 3,216,050 2,579,659 3,087,756 4,874,785 5,248,225 12,671,019 12,667,095 12,480,765
Change - -19.79% 19.7% 57.87% 7.66% 141.43% -0.03% -1.47%
P/E ratio 18.7x 14.8x 15.6x 18.5x 17.5x 25.2x 27.8x 25.2x
PBR 1.31x 1x 1.03x 1.4x 1.43x 2.28x 2.87x 2.7x
PEG - 2.48x 2.53x 0.5x 1.2x 0.9x 0.9x 2.4x
Capitalization / Revenue 0.86x 0.67x 0.67x 1x 1.02x 1.73x 2.17x 2.09x
EV / Revenue 0.77x 0.58x 0.62x 0.93x 0.95x 2.2x 2.08x 1.98x
EV / EBITDA 7.13x 5.57x 6.16x 9.04x 8.56x 20.2x 14.9x 13.8x
EV / EBIT 14x 10.2x 11.8x 14.8x 13.4x 31.1x 21.6x 19.5x
EV / FCF 8.62x 15.4x 170x 15.2x 19.9x 63x 31.9x 27x
FCF Yield 11.6% 6.49% 0.59% 6.59% 5.03% 1.59% 3.13% 3.71%
Dividend per Share 2 36 40 40 50 50 55 63.42 72.23
Rate of return 2.13% 2.84% 2.53% 1.99% 1.84% 1.1% 0.98% 1.12%
EPS 2 90.03 95.41 101.3 135.7 155.7 198.3 232 255.9
Distribution rate 40% 41.9% 39.5% 36.8% 32.1% 27.7% 27.3% 28.2%
Net sales 1 4,191,400 4,476,700 5,003,600 5,257,914 5,521,711 5,894,700 6,103,710 6,319,167
EBITDA 1 451,341 462,944 501,207 539,207 613,278 666,879 852,820 904,106
EBIT 1 230,100 252,000 262,300 328,525 391,850 433,000 586,216 640,803
Net income 1 193,100 203,400 213,900 284,949 324,084 407,700 471,050 513,213
Net Debt 1 -401,975 -397,718 -245,112 -370,748 -396,670 -548,392 -552,316 -738,646
Reference price 2 1,686.50 1,410.00 1,578.50 2,512.00 2,720.00 6,460.00 6,460.00 6,460.00
Nbr of stocks (in thousands) 2,145,286 2,111,615 2,111,415 2,088,190 2,075,329 2,046,348 - -
Announcement Date 4/28/21 4/28/22 4/28/23 4/26/24 4/28/25 4/28/26 - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.74x2.2x20.2x0.86% 84.41B
24.21x - - -.--% 1,028B
27.46x2.07x13.29x1% 142B
52.43x3.14x26.11x0.55% 96.76B
18.93x3.33x11.41x2.19% 74.74B
22.52x4.91x16.73x2.51% 73.29B
15.62x3.85x15.21x4% 20.77B
12.43x0.8x4.78x3.44% 20.87B
32.91x2.17x11.14x3.74% 19.61B
Average 27.03x 2.81x 14.86x 2.03% 173.37B
Weighted average by Cap. 26.44x 2.88x 16.59x 0.54%

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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