Company Valuation: NOF Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 413,070 499,336 498,345 474,805 702,176 637,899 - -
Change - 20.88% -0.2% -4.72% 47.89% -9.15% - -
Enterprise Value (EV) 1 333,269 411,659 411,766 392,055 618,951 574,902 559,753 542,457
Change - 23.52% 0.03% -4.79% 57.87% -7.12% -2.64% -3.09%
P/E 15.5x 14.8x 14.8x 13.1x 17.6x 15.5x 13.5x 12.8x
PBR 1.87x 2.08x 1.88x 1.69x 2.38x 2.07x 1.9x 1.78x
PEG - 0.5x 9.51x 1.46x 1.2x 5.07x 0.9x 2.29x
Capitalization / Revenue 2.14x 2.29x 2.24x 1.99x 2.72x 2.08x 1.96x 2.06x
EV / Revenue 1.73x 1.89x 1.85x 1.65x 2.4x 1.88x 1.72x 1.76x
EV / EBITDA 8.03x 8.76x 8.39x 7.36x 8.9x 5.31x 4.74x 6.48x
EV / EBIT 9.36x 10.1x 9.77x 8.65x 13.1x 11x 9.31x 9.16x
EV / FCF 17.9x 18.2x 36.5x 37x - 41.3x 24.5x 12.6x
FCF Yield 5.59% 5.5% 2.74% 2.7% - 2.42% 4.08% 7.95%
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% 2.4% 2.55% 2.74%
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 2,825.50 2,825.50 2,825.50
Nbr of stocks (in thousands) 246,855 242,789 238,957 235,052 226,435 225,765 - -
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.($)
15.37x1.85x5.24x2.42% 3.89B
27.3x4.28x13.81x2.09% 124B
51.29x1.37x8.67x6.12% 39.84B
14.32x4.29x29.6x2.76% 34.63B
12.59x1.22x6.92x2.43% 34.44B
10.37x3.06x7.57x4.27% 24.98B
6.26x0.83x5.5x4.74% 19.53B
16.36x - - - 18.44B
67.8x12.06x44.66x0.08% 17.08B
10.15x0.89x7.91x3.46% 17.32B
Average 23.18x 3.32x 14.43x 3.15% 33.4B
Weighted average by Cap. 25.24x 3.47x 14.37x 3.01%

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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  4. Valuation NOF Corporation