Company Valuation: NOF Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 413,070 499,336 498,345 474,805 702,176 612,847 - -
Change - 20.88% -0.2% -4.72% 47.89% -12.72% - -
Enterprise Value (EV) 1 333,269 411,659 411,766 392,055 618,951 549,850 534,701 517,405
Change - 23.52% 0.03% -4.79% 57.87% -11.16% -2.76% -3.23%
P/E 15.5x 14.8x 14.8x 13.1x 17.6x 14.9x 12.9x 12.3x
PBR 1.87x 2.08x 1.88x 1.69x 2.38x 1.99x 1.82x 1.71x
PEG - 0.5x 9.51x 1.46x 1.2x 4.87x 0.8x 2.2x
Capitalization / Revenue 2.14x 2.29x 2.24x 1.99x 2.72x 2x 1.88x 1.98x
EV / Revenue 1.73x 1.89x 1.85x 1.65x 2.4x 1.79x 1.64x 1.67x
EV / EBITDA 8.03x 8.76x 8.39x 7.36x 8.9x 5.08x 4.53x 6.18x
EV / EBIT 9.36x 10.1x 9.77x 8.65x 13.1x 10.5x 8.89x 8.73x
EV / FCF 17.9x 18.2x 36.5x 37x - 39.5x 23.4x 12x
FCF Yield 5.59% 5.5% 2.74% 2.7% - 2.53% 4.27% 8.33%
Dividend per Share 2 30 36 38 45 61 67.75 72 77.5
Rate of return 1.79% 1.75% 1.82% 2.23% 1.97% 2.5% 2.65% 2.86%
EPS 2 107.9 139 141.2 153.9 176.3 181.7 209.6 221.4
Distribution rate 27.8% 25.9% 26.9% 29.2% 34.6% 37.3% 34.3% 35%
Net sales 1 192,642 217,709 222,252 238,310 257,967 306,400 326,083 309,000
EBITDA 1 41,504 46,983 49,081 53,273 69,527 108,325 117,975 83,700
EBIT 1 35,595 40,624 42,142 45,308 47,411 52,500 60,150 59,250
Net income 1 26,690 33,973 33,990 36,497 40,550 41,143 46,567 46,600
Net Debt 1 -79,801 -87,677 -86,579 -82,750 -83,225 -62,998 -78,146 -95,442
Reference price 2 1,673.33 2,056.67 2,085.50 2,020.00 3,101.00 2,714.50 2,714.50 2,714.50
Nbr of stocks (in thousands) 246,855 242,789 238,957 235,052 226,435 225,768 - -
Announcement Date 5/11/22 5/11/23 5/9/24 5/9/25 5/11/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.4x4.37x14.1x2% 129B
20.15x5.89x40.65x1.96% 54.3B
52.39x1.4x8.86x5.99% 41.86B
11.6x1.14x6.49x2.64% 31.59B
9.75x2.89x7.16x4.54% 23.16B
6.21x0.81x5.41x4.78% 18.66B
98.96x17.14x64.47x0.06% 17.28B
28.64x2.34x13.23x0.44% 16.63B
14.56x - - - 16.37B
Average 30.07x 4.50x 20.05x 2.8% 38.72B
Weighted average by Cap. 28.91x 4.20x 18.66x 2.71%

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