Company Valuation: Nishikawa Rubber Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 29,500 26,475 21,903 40,133 94,637 127,980
Change - -10.26% -17.27% 83.23% 135.81% 35.23%
Enterprise Value (EV) 1 11,121 8,586 4,994 13,385 63,144 99,635
Change - -22.8% -41.84% 168.03% 371.75% 57.79%
P/E 10.9x 12.6x 18.8x 7.96x 23.9x 12x
PBR 0.44x 0.39x 0.3x 0.47x 1.08x 1.46x
PEG - -0.6x -0.4x 0x -1.1x 0x
Capitalization / Revenue 0.37x 0.31x 0.22x 0.34x 0.78x 1.05x
EV / Revenue 0.14x 0.1x 0.05x 0.11x 0.52x 0.82x
EV / EBITDA 1.05x 1.03x 0.83x 1.06x 4.71x 6.64x
EV / EBIT 2.35x 3.47x -47.6x 2.04x 8.62x 11x
EV / FCF 4.29x -28.6x -9.91x 1.37x 13.1x 16.5x
FCF Yield 23.3% -3.5% -10.1% 72.8% 7.65% 6.07%
Dividend per Share 2 20 20 20 22 104.5 183
Rate of return 2.66% 2.96% 3.51% 2.12% 4.27% 5.18%
EPS 2 68.85 53.72 30.38 130.7 102.5 293.8
Distribution rate 29% 37.2% 65.8% 16.8% 102% 62.3%
Net sales 1 80,234 84,503 98,167 117,904 120,639 122,138
EBITDA 1 10,622 8,318 6,000 12,628 13,398 15,011
EBIT 1 4,736 2,475 -105 6,556 7,325 9,053
Net income 1 2,697 2,105 1,170 5,038 3,957 10,960
Net Debt 1 -18,379 -17,889 -16,909 -26,748 -31,493 -28,345
Reference price 2 753.00 675.50 570.00 1,040.00 2,450.00 3,530.00
Nbr of stocks (in thousands) 39,177 39,193 38,426 38,590 38,627 36,255
Announcement Date 6/25/21 6/29/22 6/30/23 8/26/24 6/27/25 6/24/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 699M
21.7x1.46x11.33x1.73% 46.04B
16.62x0.67x4.96x3.51% 33.39B
12.28x0.65x5.47x3.71% 32.73B
10.2x0.62x8.1x1.44% 29.02B
13.38x2.45x8.6x4.36% 19.88B
11.16x0.52x5.1x2.93% 18.39B
12.13x1.06x6.03x4.14% 16.59B
27.56x1.1x11.45x0.58% 15.72B
29.45x2.73x16.21x1.04% 13.97B
Average 17.16x 1.25x 8.58x 2.6% 22.64B
Weighted average by Cap. 16.70x 1.15x 8.30x 2.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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