Company Valuation: Paltac Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 380,548 285,954 315,492 258,616 245,409 401,983 - -
Change - -24.86% 10.33% -18.03% -5.11% 63.8% - -
Enterprise Value (EV) 1 343,488 245,599 269,743 197,622 175,493 209,736 307,519 294,717
Change - -28.5% 9.83% -26.74% -11.2% 19.51% -3.83% -4.16%
P/E 19.7x 14.7x 16.4x 12.5x 10.9x 13.4x 17.4x 17.5x
PBR 1.62x 1.17x 1.21x 0.93x 0.85x 0.97x 1.36x 1.22x
PEG - 7.03x -12.69x 1.73x 0.9x -6.57x 2.23x -24.73x
Capitalization / Revenue 0.37x 0.27x 0.29x 0.22x 0.21x 0.24x 0.32x 0.31x
EV / Revenue 0.33x 0.23x 0.24x 0.17x 0.15x 0.17x 0.24x 0.22x
EV / EBITDA 11x 7.82x 8.93x 5.86x 5.09x 6.4x 8.33x 8.01x
EV / EBIT 13.5x 9.47x 11x 7.27x 6.27x 7.94x 10.1x 9.84x
EV / FCF 14.8x 20.9x 41.2x 9.42x 8.67x 9.28x 16x 14.8x
FCF Yield 6.78% 4.8% 2.43% 10.6% 11.5% 10.8% 6.26% 6.76%
Dividend per Share 2 72 78 82 94 105 120 125 135
Rate of return 1.2% 1.71% 1.63% 2.28% 2.64% 2.49% 1.89% 2.04%
EPS 2 304 310.3 306.3 328.4 366.5 359 381.5 378.8
Distribution rate 23.7% 25.1% 26.8% 28.6% 28.7% 33.4% 32.8% 35.6%
Net sales 1 1,033,275 1,045,735 1,104,152 1,151,966 1,188,097 1,237,846 1,270,588 1,315,500
EBITDA 1 31,137 31,407 30,222 33,725 34,503 32,794 36,917 36,800
EBIT 1 25,487 25,921 24,472 27,172 28,008 26,430 30,367 29,950
Net income 1 19,317 19,639 19,251 20,638 22,864 22,031 23,532 23,138
Net Debt 1 -37,060 -40,355 -45,749 -60,994 -69,916 -83,282 -94,464 -107,266
Reference price 2 5,990.00 4,550.00 5,020.00 4,115.00 3,979.00 6,630.00 6,630.00 6,630.00
Nbr of stocks (in thousands) 63,531 62,847 62,847 62,847 61,676 60,631 - -
Announcement Date 5/12/21 5/11/22 5/11/23 5/13/24 5/12/25 5/11/26 - -
1JPY in Million2
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
18.74x0.26x9.13x1.81% 2.53B
21.03x4.06x14.8x3.05% 336B
17.92x2.7x11.91x3.56% 134B
25.01x3.74x15.72x2.31% 73.3B
43.08x6.94x30.12x2.14% 51.04B
20.19x2.82x11.79x4.41% 36.88B
83.27x2.46x14.82x1.63% 31.15B
23.08x1.7x10.84x2.21% 20.09B
16.06x1.54x8.83x3.29% 19.82B
20.65x1.33x8.63x1.28% 19.77B
Average 28.90x 2.76x 13.66x 2.57% 72.45B
Weighted average by Cap. 24.95x 3.63x 14.83x 2.95%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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