Company Valuation: NIPPON KANZAI

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2024 2025 2026
Market Cap 1 81,496 105,608 95,925 96,433 104,495
Change - 29.59% - 0.53% 8.36%
Enterprise Value (EV) 1 52,178 75,792 66,440 69,148 72,249
Change - 45.26% - 4.08% 4.49%
P/E 15.4x 17.1x 16.9x 16.8x 14.7x
PBR 1.46x 1.75x 1.41x 1.45x 1.4x
PEG - 1x - 4.51x 0.6x
Capitalization / Revenue 0.78x 1.02x 0.78x 0.69x 0.7x
EV / Revenue 0.5x 0.73x 0.54x 0.49x 0.48x
EV / EBITDA 6.3x 9.16x 7.11x 6.65x 6.82x
EV / EBIT 6.91x 10.1x 8.03x 7.97x 8.32x
EV / FCF 8.06x 29.6x 17.3x 714x 11.2x
FCF Yield 12.4% 3.38% 5.77% 0.14% 8.95%
Dividend per Share 2 52 54 54 54 57
Rate of return 2.39% 1.91% 2.1% 2.03% 1.98%
EPS 2 141.3 165.2 151.9 157.6 196
Distribution rate 36.8% 32.7% 35.5% 34.3% 29.1%
Net sales 1 104,124 103,737 122,674 139,868 150,258
EBITDA 1 8,284 8,278 9,345 10,397 10,586
EBIT 1 7,548 7,501 8,272 8,679 8,687
Net income 1 5,284 6,177 5,680 5,829 7,119
Net Debt 1 -29,318 -29,816 -29,485 -27,285 -32,246
Reference price 2 2,180.00 2,825.00 2,566.00 2,655.00 2,877.00
Nbr of stocks (in thousands) 37,383 37,383 37,383 36,321 36,321
Announcement Date 6/18/21 6/17/22 6/20/24 6/18/25 6/23/26
1JPY in Million2JPY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.47x0.87x10.54x-.--% 37.2B
18.7x0.85x7.03x2.45% 19.25B
12.67x0.49x8.02x-.--% 14.06B
16.96x3.48x11.22x5.87% 11.11B
20.45x8.49x16.8x4.69% 10.09B
51.46x1.97x7.76x-.--% 6.13B
34.07x1.23x12.01x0.93% 5.64B
33.78x1.06x8.13x0.34% 4.59B
29.85x11.77x - 1.94% 4.12B
Average 26.60x 3.36x 10.19x 1.8% 12.47B
Weighted average by Cap. 22.43x 2.25x 10.06x 1.56%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA