Company Valuation: ORIX JREIT Inc.

Data adjusted to current consolidation scope
Fiscal Period: February 2021 2022 2023 2024 2025 2026
Market Cap 1 500,388 444,084 503,424 436,356 470,028 574,632
Change - -11.25% 13.36% -13.32% 7.72% 22.25%
Enterprise Value (EV) 1 749,863 692,598 742,610 684,350 739,430 904,787
Change - -7.64% 7.22% -7.85% 8.05% 22.36%
P/E 24.6x 23.2x 21.9x 22.4x 20.9x 21.4x
PBR 1.43x 1.27x 1.43x 1.25x 1.34x 1.62x
PEG - -3.85x 1.1x -1.5x 1.3x 1.1x
Capitalization / Revenue 10.5x 9.48x 9.73x 8.02x 9.09x 9.65x
EV / Revenue 15.7x 14.8x 14.4x 12.6x 14.3x 15.2x
EV / EBITDA 24x 23x 22.4x 19.3x 22.6x 23.3x
EV / EBIT 32.7x 31.8x 29.6x 24.9x 29.7x 29.8x
EV / FCF 35.8x 34.8x 29.7x 25.7x 30.2x 32.2x
FCF Yield 2.79% 2.87% 3.37% 3.89% 3.32% 3.11%
Dividend per Share 2 3,693 3,506 3,960 3,823 3,906 4,684
Rate of return 4.07% 4.36% 4.34% 4.84% 4.59% 4.5%
EPS 2 3,691 3,468 4,155 3,522 4,080 4,873
Distribution rate 100% 101% 95.3% 109% 95.7% 96.1%
Net sales 1 47,857 46,844 51,745 54,408 51,687 59,537
EBITDA 1 31,243 30,102 33,204 35,419 32,669 38,893
EBIT 1 22,959 21,796 25,130 27,539 24,888 30,400
Net income 1 20,373 19,145 22,936 19,443 22,521 26,900
Net Debt 1 249,475 248,514 239,186 247,994 269,402 330,155
Reference price 2 90,650.00 80,450.00 91,200.00 79,050.00 85,150.00 104,100.00
Nbr of stocks (in thousands) 5,520 5,520 5,520 5,520 5,520 5,520
Announcement Date 6/30/21 6/29/22 6/19/23 6/12/24 6/24/25 6/22/26
1JPY in Million2JPY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 3.37B
39.88x15.8x16.08x5.27% 58.46B
16.95x23.57x28.24x3.4% 17.64B
8.6x12.25x15.01x5.57% 16.59B
19.95x16.71x23.99x5.07% 14.8B
9.93x13.6x16.16x5.22% 12.57B
27.76x10.93x17.24x3.91% 10.14B
8.02x20.59x27.85x3.16% 9.71B
14.94x11.97x18.61x6.23% 9.53B
35.28x7.55x12.13x5.59% 8.99B
Average 20.15x 14.77x 19.48x 4.82% 16.18B
Weighted average by Cap. 25.32x 15.49x 18.79x 4.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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