Company Valuation: Nidec Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,869,322 5,656,393 3,929,237 3,522,295 2,861,883 3,255,520 - -
Change - -28.12% -30.53% -10.36% -18.75% 13.75% - -
Enterprise Value (EV) 1 8,181,271 6,052,448 4,448,488 3,906,189 3,251,690 3,559,068 3,393,755 3,219,027
Change - -26.02% -26.5% -12.19% -16.76% 9.45% -4.64% -5.15%
P/E 64.5x 41.6x 87.5x 28.1x 17.1x 23.2x 17.2x 15.3x
PBR 7.18x 4.37x 2.9x 2.16x 1.66x 1.8x 1.64x 1.5x
PEG - 3.3x -1.3x 0x 0.5x -1.5x 0.5x 1.3x
Capitalization / Revenue 4.86x 2.95x 1.75x 1.5x 1.1x 1.23x 1.19x 1.15x
EV / Revenue 5.06x 3.16x 1.98x 1.66x 1.25x 1.35x 1.24x 1.14x
EV / EBITDA 32.1x 21.9x 20.3x 13.3x 8.6x 11.3x 8.66x 7.61x
EV / EBIT 51.1x 35.3x 44.4x 23.9x 13.5x 26.1x 13.5x 11.4x
EV / FCF 69x -344x -207x 23.3x 23.7x 31x 19.8x 16.8x
FCF Yield 1.45% -0.29% -0.48% 4.3% 4.22% 3.22% 5.05% 5.95%
Dividend per Share 2 30 32.5 35 37.5 40 43.33 47.5 48.75
Rate of return 0.45% 0.67% 1.02% 1.22% 1.61% 1.53% 1.67% 1.72%
EPS 2 104.1 117.2 39.1 109.1 146 122.7 165.3 185.4
Distribution rate 28.8% 27.7% 89.5% 34.4% 27.4% 35.3% 28.7% 26.3%
Net sales 1 1,618,064 1,918,174 2,242,824 2,348,202 2,607,100 2,639,219 2,727,941 2,835,453
EBITDA 1 255,011 276,411 219,550 294,696 378,268 316,220 391,864 422,822
EBIT 1 160,011 171,487 100,081 163,106 240,200 136,277 251,336 281,251
Net income 1 121,977 136,870 45,003 125,387 167,700 140,209 188,885 211,299
Net Debt 1 311,949 396,055 519,251 383,894 389,807 303,548 138,235 -36,493
Reference price 2 6,717.50 4,874.00 3,422.50 3,065.00 2,492.00 2,840.00 2,840.00 2,840.00
Nbr of stocks (in thousands) 1,171,466 1,160,524 1,148,061 1,149,199 1,148,428 1,146,310 - -
Announcement Date 4/22/21 4/21/22 4/24/23 4/23/24 4/24/25 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.01x1.34x11.19x1.54% 20.35B
25.22x3.02x16.49x2.05% 240B
14.17x1.76x7.94x3.61% 205B
30.44x3.91x18.04x1.6% 185B
38.98x5.79x24.38x1% 171B
46.61x6.26x28.04x1.06% 156B
40.6x6.68x26.83x0.1% 94.44B
91.52x11.35x64.94x0.34% 94.93B
31.95x5.16x17.96x1.42% 87.09B
33.81x7.29x22.88x0.55% 56.8B
Average 37.63x 5.25x 23.87x 1.33% 131.06B
Weighted average by Cap. 35.26x 4.86x 22.32x 1.6%

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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