Company Valuation: NGK Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 546,259 536,587 607,763 537,966 1,143,525 1,420,887 - -
Change - -1.77% 13.26% -11.48% 112.56% 24.26% - -
Enterprise Value (EV) 1 612,967 575,236 624,387 526,338 1,065,239 1,293,454 1,232,692 1,168,664
Change - -6.16% 8.54% -15.7% 102.39% 21.42% -4.7% -5.19%
P/E 7.74x 9.87x 15.3x 9.87x 19.3x 15.5x 14.7x 13.6x
PBR 0.94x 0.84x 0.87x 0.75x 1.41x 1.69x 1.58x 1.47x
PEG - -0.5x -0.6x 0.3x 1.8x 0.3x 2.7x 1.61x
Capitalization / Revenue 1.07x 0.96x 1.05x 0.87x 1.71x 1.94x 1.83x 1.75x
EV / Revenue 1.2x 1.03x 1.08x 0.85x 1.59x 1.77x 1.59x 1.44x
EV / EBITDA 4.62x 4.77x 5.07x 3.8x 6.99x 7.14x 6.36x 5.62x
EV / EBIT 7.34x 8.62x 9.4x 6.48x 11.2x 10.7x 9.47x 8.32x
EV / FCF 12.6x 12.5x 12x 11x 17.5x 19.1x 19.5x 16.1x
FCF Yield 7.92% 7.99% 8.31% 9.09% 5.71% 5.23% 5.13% 6.2%
Dividend per Share 2 63 66 50 60 80 109.5 113.3 121.5
Rate of return 3.59% 3.77% 2.45% 3.27% 2.01% 2.17% 2.24% 2.41%
EPS 2 226.6 177.5 133.6 186 206.3 325.1 342.8 371.9
Distribution rate 27.8% 37.2% 37.4% 32.3% 38.8% 33.7% 33% 32.7%
Net sales 1 510,439 559,240 578,913 619,513 670,125 732,185 774,643 811,417
EBITDA 1 132,797 120,490 123,203 138,494 152,484 181,212 193,840 207,950
EBIT 1 83,527 66,761 66,397 81,241 94,997 120,337 130,186 140,500
Net income 1 70,851 55,048 40,562 54,933 59,936 92,573 97,139 104,383
Net Debt 1 66,708 38,649 16,624 -11,628 -78,286 -127,433 -188,194 -252,223
Reference price 2 1,753.00 1,752.00 2,040.00 1,835.50 3,977.00 5,050.00 5,050.00 5,050.00
Nbr of stocks (in thousands) 311,614 306,271 297,923 293,090 287,534 281,364 - -
Announcement Date 4/28/22 4/28/23 4/26/24 4/28/25 4/30/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.73x5.09x18.5x0.88% 117B
26.11x4.78x16.76x2.3% 34.87B
20.24x1.73x12.45x2.32% 29.45B
28.47x3.82x14.43x0.12% 27.99B
19.3x3.29x10.53x1.58% 27.4B
20.89x3.03x13.08x1.12% 25.47B
23.42x2.86x12.34x1.61% 25.1B
96.63x35.29x77.56x0.39% 24.06B
24.87x3.13x15.31x1.82% 22.61B
Average 32.18x 7.00x 21.22x 1.35% 37.11B
Weighted average by Cap. 30.90x 6.22x 19.95x 1.25%

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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