Company Valuation: Neturen Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 24,279 23,585 24,659 40,549 33,196 40,952
Change - -2.86% 4.56% 64.44% -18.13% 23.36%
Enterprise Value (EV) 1 12,175 6,682 8,055 25,541 21,016 35,454
Change - -45.12% 20.56% 217.06% -17.72% 68.7%
P/E 92.5x 8.76x 70.3x 26.7x 18.8x 31.6x
PBR 0.43x 0.4x 0.44x 0.68x 0.56x 0.7x
PEG - 0x -0.8x 0x 0.8x -1.4x
Capitalization / Revenue 0.57x 0.44x 0.43x 0.71x 0.58x 0.7x
EV / Revenue 0.29x 0.13x 0.14x 0.45x 0.37x 0.61x
EV / EBITDA 2.99x 1x 1.59x 6.38x 5.35x 8.4x
EV / EBIT 13.4x 1.81x 3.41x 15.7x 13.2x 19.1x
EV / FCF 5.44x 1.59x 7.66x 35.9x -10.3x -24.3x
FCF Yield 18.4% 63% 13.1% 2.78% -9.67% -4.12%
Dividend per Share 2 14 30 30 49 51 -
Rate of return 2.3% 5.08% 4.32% 4.38% 5.27% -
EPS 2 6.587 67.43 9.881 41.89 51.57 39.76
Distribution rate 213% 44.5% 304% 117% 98.9% -
Net sales 1 42,567 53,004 57,524 57,205 57,563 58,277
EBITDA 1 4,069 6,656 5,070 4,006 3,929 4,223
EBIT 1 911 3,698 2,365 1,629 1,595 1,860
Net income 1 268 2,690 381 1,542 1,815 1,329
Net Debt 1 -12,104 -16,903 -16,604 -15,008 -12,180 -5,498
Reference price 2 609.00 591.00 695.00 1,120.00 968.00 1,256.00
Nbr of stocks (in thousands) 39,867 39,906 35,481 36,204 34,293 32,605
Announcement Date 6/28/21 6/29/22 6/29/23 6/27/24 6/27/25 6/24/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 264M
18.53x1.24x8.93x2.62% 2.43B
8x0.23x9.36x3.76% 2.09B
8.83x - - - 1.35B
Average 11.79x 0.73x 9.15x 3.19% 1.53B
Weighted average by Cap. 12.55x 0.77x 9.13x 3.15%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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