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 6,854,536 - -
Change - -3.19% 115.58% 43.13% 21.9% 34.16% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 6,552,920 6,278,548 6,129,562
Change - -4.36% 101.05% 43.16% 15.6% 32.66% -4.19% -2.37%
P/E 9.93x 12x 19.6x 23.9x 19x 22.9x 20.4x 18.4x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.8x 2.56x 2.28x
PEG - -0.7x 0.6x 1.4x 0.3x 2x 1.7x 1.7x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.83x 1.75x 1.69x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.75x 1.6x 1.51x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 11.1x 9.6x 8.78x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 15.2x 12.8x 11.5x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 25x 19.5x 17.1x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 4% 5.13% 5.86%
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% 0.83% 0.93% 1.04%
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 5,168.00 5,168.00 5,168.00
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.($)
22.87x1.75x11.09x0.83% 43.08B
23.25x3.75x13.1x2.88% 221B
-115.3x18.35x105.96x-.--% 114B
13.11x1.45x7.6x3.65% 108B
15.29x2.8x10.56x5.37% 89.33B
19.78x5.21x12.81x2.88% 59.78B
15.31x2.24x9.49x5.1% 49.52B
21.64x1.77x10.98x1.35% 41.87B
18.53x2.38x11.3x4.67% 38.48B
17.67x3.84x9.92x2.83% 27.91B
Average 5.22x 4.35x 20.28x 2.96% 79.3B
Weighted average by Cap. -0.24x 5.17x 24.75x 2.89%

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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