Company Valuation: Morozoff Limited

Data adjusted to current consolidation scope
Fiscal Period: January 2023 2024 2025 2026
Market Cap 1 23,715 27,912 33,248 31,149
Change - 17.7% 19.12% -6.31%
Enterprise Value (EV) 1 18,749 21,873 29,665 31,565
Change - 16.66% 35.62% 6.41%
P/E 13.9x 16.5x 23.9x 48.9x
PBR 1.28x 1.42x 1.71x 1.57x
PEG - 16x -1.5x -0.9x
Capitalization / Revenue 0.73x 0.8x 0.92x 0.86x
EV / Revenue 0.58x 0.63x 0.82x 0.87x
EV / EBITDA 5.89x 6.83x 10.5x 16.3x
EV / EBIT 7.74x 8.84x 14.4x 25x
EV / FCF - - - -
FCF Yield - - - -
Dividend per Share 2 21.67 32.67 27.33 16
Rate of return 1.93% 2.43% 1.66% 1.03%
EPS 2 80.68 81.51 68.8 31.81
Distribution rate 26.9% 40.1% 39.7% 50.3%
Net sales 1 32,505 34,933 36,017 36,273
EBITDA 1 3,182 3,201 2,833 1,931
EBIT 1 2,423 2,474 2,059 1,265
Net income 1 1,703 1,715 1,414 642
Net Debt 1 -4,966 -6,039 -3,583 416
Reference price 2 1,123.33 1,345.00 1,645.00 1,554.00
Nbr of stocks (in thousands) 21,111 20,752 20,211 20,044
Announcement Date 4/26/23 4/26/24 4/28/25 4/23/26
1JPY in Million2JPY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 191M
27.86x3.51x16.17x2.08% 24.33B
32.26x0.7x10.49x2.62% 7.4B
19.39x1.79x11.48x2.84% 1.53B
12.6x0.88x6.66x2.85% 1.32B
7.31x - - 5.11% 888M
10.96x0.57x5.49x4.87% 340M
Average 18.40x 1.49x 10.06x 3.4% 5.14B
Weighted average by Cap. 27.17x 2.71x 14.30x 2.35%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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