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 5,955,282 - -
Change - -3.19% 115.58% 43.13% 21.9% 16.56% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 5,651,130 5,522,725 5,234,196
Change - -4.36% 101.05% 43.16% 15.6% 14.4% -2.27% -5.22%
P/E 9.93x 12x 19.6x 23.9x 19x 20.7x 18.1x 16.4x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.45x 2.24x 2x
PEG - -0.7x 0.6x 1.4x 0.3x 3.01x 1.3x 1.5x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.61x 1.54x 1.48x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.53x 1.42x 1.3x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 9.73x 8.55x 7.59x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 13.4x 11.5x 9.95x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 18.7x 17.6x 15x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 5.35% 5.68% 6.68%
Dividend per Share 2 20 22 24 28 38 42.74 47.71 52.52
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 0.95% 1.06% 1.17%
EPS 2 103.7 84.9 112.2 131.5 203 216.9 247.6 274.5
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 19.7% 19.3% 19.1%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,688,345 3,879,323 4,033,654
EBITDA 1 313,064 353,745 375,712 441,600 514,415 580,514 646,220 689,711
EBIT 1 132,525 170,447 188,012 256,500 359,913 422,423 480,363 526,002
Net income 1 141,277 114,500 149,521 175,183 270,228 289,139 329,406 364,289
Net Debt 1 149,044 126,187 56,425 81,744 -169,819 -304,152 -432,558 -721,087
Reference price 2 1,030.00 1,020.00 2,198.00 3,145.00 3,846.00 4,490.00 4,490.00 4,490.00
Nbr of stocks (in thousands) 1,362,288 1,331,749 1,332,286 1,332,707 1,328,499 1,326,344 - -
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.($)
22.58x3.66x12.74x2.97% 214B
-94.69x14.98x86.7x-.--% 93.71B
12.19x1.35x7.06x3.94% 101B
15.55x2.84x10.74x5.29% 90.82B
22.25x5.73x14.09x2.58% 65.81B
14.48x2.11x8.93x5.39% 46.87B
21.14x1.71x10.78x1.4% 39.21B
17.96x2.28x10.94x4.84% 37.35B
20.42x2.37x15.47x2.94% 27.8B
Average 5.76x 4.11x 19.72x 3.26% 79.63B
Weighted average by Cap. 3.93x 4.57x 21.14x 3.15%

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