Company Valuation: NOK Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 198,395 250,394 344,330 357,109 423,362 468,072 - -
Change - 26.21% 37.52% 3.71% 18.55% 10.56% - -
Enterprise Value (EV) 1 156,253 217,559 282,881 282,037 329,097 385,360 401,668 422,047
Change - 39.24% 30.02% -0.3% 16.69% 17.1% 4.23% 5.07%
P/E 7.68x 18.9x 11.1x 11.8x 9.83x 10.8x 13.8x 12.4x
PBR 0.4x 0.47x 0.59x 0.62x 0.71x 0.74x 0.72x 0.7x
PEG - -0.4x 0x -6.3x 0.2x -3.38x -0.6x 1.1x
Capitalization / Revenue 0.29x 0.35x 0.46x 0.47x 0.57x 0.61x 0.6x 0.59x
EV / Revenue 0.23x 0.31x 0.38x 0.37x 0.45x 0.51x 0.52x 0.53x
EV / EBITDA 2.11x 3.56x 4x 3.35x 4.01x 4.4x 4.35x 4.3x
EV / EBIT 4.99x 14.1x 12.3x 7.57x 9.98x 10.5x 9.71x 9.08x
EV / FCF 9.18x 20x 4.76x 7.2x 5.68x 16.9x 17.8x 14.5x
FCF Yield 10.9% 5% 21% 13.9% 17.6% 5.91% 5.63% 6.87%
Dividend per Share 2 60 75 87.5 105 130 140 147.5 152.5
Rate of return 5.23% 5.13% 4.18% 4.8% 4.64% 4.68% 4.93% 5.1%
EPS 2 149.4 77.55 188.3 184.8 284.8 275.7 216.6 241
Distribution rate 40.2% 96.7% 46.5% 56.8% 45.6% 50.8% 68.1% 63.3%
Net sales 1 682,507 709,956 750,502 766,859 738,434 762,955 779,575 799,400
EBITDA 1 73,928 61,136 70,683 84,207 82,037 87,583 92,400 98,233
EBIT 1 31,337 15,378 22,912 37,264 32,990 36,862 41,375 46,475
Net income 1 25,835 13,320 31,602 30,320 46,338 43,947 34,400 38,025
Net Debt 1 -42,142 -32,835 -61,449 -75,072 -94,265 -82,711 -66,404 -46,024
Reference price 2 1,147.00 1,463.00 2,093.00 2,189.50 2,800.50 2,991.50 2,991.50 2,991.50
Nbr of stocks (in thousands) 172,969 171,151 164,515 163,101 151,174 155,868 - -
Announcement Date 5/12/22 5/10/23 5/13/24 5/14/25 5/13/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.99x1.24x9.52x2.07% 40.99B
12.18x0.58x5.08x3.84% 30.32B
7.9x0.47x5.98x1.91% 23.8B
14.44x2.6x8.96x4.22% 20.22B
30.53x1.2x12.75x0.6% 18.08B
10.25x0.48x4.72x3.1% 16.95B
13.31x1.36x7.04x4.13% 15.91B
46.89x5.13x35.82x0.77% 14.69B
12.55x0.95x6.34x1.08% 12.33B
Average 18.45x 1.56x 10.69x 2.41% 21.48B
Weighted average by Cap. 17.42x 1.40x 9.80x 2.51%

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