Company Valuation: NEC Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,403,157 1,358,384 2,928,366 4,191,365 5,109,408 6,392,969 - -
Change - -3.19% 115.58% 43.13% 21.9% 25.12% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 6,091,353 5,816,981 5,667,995
Change - -4.36% 101.05% 43.16% 15.6% 23.32% -4.5% -2.56%
P/E 9.93x 12x 19.6x 23.9x 19x 21.3x 19.1x 17.2x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.61x 2.38x 2.13x
PEG - -0.7x 0.6x 1.4x 0.3x 1.9x 1.6x 1.6x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.71x 1.63x 1.57x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.63x 1.49x 1.4x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 10.3x 8.89x 8.12x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 14.1x 11.9x 10.6x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 23.3x 18x 15.8x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 4.3% 5.54% 6.34%
Dividend per Share 2 20 22 24 28 38 42.86 48.05 53.65
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 0.89% 1% 1.11%
EPS 2 103.7 84.9 112.2 131.5 203 226 253 281
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 19% 19% 19.1%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,742,857 3,912,906 4,062,927
EBITDA 1 313,064 353,745 375,712 441,600 514,415 590,990 654,261 697,928
EBIT 1 132,525 170,447 188,012 256,500 359,913 431,164 488,701 535,007
Net income 1 141,277 114,500 149,521 175,183 270,228 301,517 336,636 373,010
Net Debt 1 149,044 126,187 56,425 81,744 -169,819 -301,616 -575,989 -724,975
Reference price 2 1,030.00 1,020.00 2,198.00 3,145.00 3,846.00 4,820.00 4,820.00 4,820.00
Nbr of stocks (in thousands) 1,362,288 1,331,749 1,332,286 1,332,707 1,328,499 1,326,342 - -
Announcement Date 4/28/22 4/28/23 4/26/24 4/28/25 4/28/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.28x3.79x13.24x2.85% 223B
-114.07x18.13x104.43x-.--% 113B
13.58x1.5x7.88x3.53% 112B
14.83x2.71x10.22x5.54% 86.65B
20.04x5.27x12.95x2.84% 60.85B
14.67x2.13x9.05x5.31% 47.44B
20.31x1.66x10.27x1.44% 39.48B
20.63x1.57x9.95x0.92% 39.01B
18.05x2.34x10.89x4.79% 37.5B
Average 3.48x 4.34x 20.99x 3.03% 84.35B
Weighted average by Cap. -0.85x 5.17x 24.91x 2.91%

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