Company Valuation: NEC Capital Solutions Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 43,626 44,695 54,383 82,585 81,421 87,149
Change - 2.45% 21.68% 51.86% -1.41% 7.03%
Enterprise Value (EV) 1 884,937 849,411 878,248 947,682 994,891 1,110,379
Change - -4.01% 3.39% 7.91% 4.98% 11.61%
P/E 10.6x 6.44x 8.47x 11.7x 12.3x 9.49x
PBR 0.46x 0.43x 0.5x 0.71x 0.67x 0.67x
PEG - 0.1x -1.13x 1.22x -2.04x 0.2x
Capitalization / Revenue 0.2x 0.18x 0.21x 0.32x 0.32x 0.28x
EV / Revenue 4x 3.4x 3.4x 3.7x 3.9x 3.63x
EV / EBITDA 40.6x 34.1x 28.7x 24.2x 26x 33x
EV / EBIT 148x 81.3x 75x 81x 128x 105x
EV / FCF -26x 18.9x 68.3x 45.1x 73.4x -17.1x
FCF Yield -3.84% 5.3% 1.47% 2.22% 1.36% -5.85%
Dividend per Share 2 60 74 110 130 150 150
Rate of return 2.96% 3.56% 4.35% 3.39% 3.97% 3.71%
EPS 2 191.3 322.4 298.1 326.7 306.9 426.1
Distribution rate 31.4% 23% 36.9% 39.8% 48.9% 35.2%
Net sales 1 221,255 249,907 258,107 255,857 254,879 306,155
EBITDA 1 21,792 24,915 30,647 39,100 38,242 33,627
EBIT 1 5,965 10,447 11,716 11,696 7,783 10,618
Net income 1 4,118 6,939 6,418 7,034 6,611 9,180
Net Debt 1 841,311 804,716 823,865 865,097 913,470 1,023,230
Reference price 2 2,026.00 2,076.00 2,526.00 3,835.00 3,780.00 4,045.00
Nbr of stocks (in thousands) 21,533 21,529 21,529 21,535 21,540 21,545
Announcement Date 6/30/21 6/29/22 6/27/23 6/28/24 6/26/25 6/22/26
1JPY in Million2JPY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 548M
99.5x - - -.--% 22.84B
8.26x7.22x8.35x1.13% 22.02B
1105.11x - - -.--% 11.85B
11.36x4.13x22.81x3.97% 11.79B
5.53x - - 5.51% 11.11B
11.04x - - 4.46% 10.29B
4.62x - - 6.8% 8.14B
Average 177.92x 5.67x 15.58x 3.12% 12.32B
Weighted average by Cap. 162.22x 6.14x 13.39x 2.39%

Y-o-Y evolution of P/E

Valuation ratios - P/E - NEC Capital Solutions Limited

Historical PBR trend

Valuation ratios - PBR - NEC Capital Solutions Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - NEC Capital Solutions Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - NEC Capital Solutions Limited

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