Company Valuation: SHIFT Inc.

Data adjusted to current consolidation scope
Fiscal Period: August 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 440,558 357,584 527,484 240,149 402,826 239,860 - -
Change - -18.83% 47.51% -54.47% 67.74% -40.46% - -
Enterprise Value (EV) 1 430,527 348,195 512,326 228,857 391,136 232,400 222,560 209,187
Change - -19.12% 47.14% -55.33% 70.91% -40.58% -4.23% -6.01%
P/E 155x 71.7x 84.6x 46.8x 45.1x 27.5x 16.9x 13.9x
PBR 19.7x 14x 18.2x 7.13x 9.92x 5.43x 4.16x 3.24x
PEG - 1x 3.3x -2.6x 0.6x 45.97x 0.3x 0.6x
Capitalization / Revenue 9.58x 5.51x 5.99x 2.17x 3.1x 1.52x 1.3x 1.14x
EV / Revenue 9.36x 5.37x 5.82x 2.07x 3.01x 1.48x 1.2x 1x
EV / EBITDA 97x 41.6x 38.6x 17x 20.7x 11.1x 8.29x 6.59x
EV / EBIT 108x 50.4x 44.3x 21.7x 25x 13.2x 9.73x 7.66x
EV / FCF 100x 193x 79.5x -267x 98.9x -13.7x 13.7x 10.6x
FCF Yield 1% 0.52% 1.26% -0.37% 1.01% -7.31% 7.29% 9.44%
Dividend per Share 2 - - - - - 4.067 3.2 3.88
Rate of return - - - - - 0.43% 0.34% 0.41%
EPS 2 10.85 18.85 23.64 19.43 33.93 34.13 55.4 67.66
Distribution rate - - - - - 11.9% 5.78% 5.73%
Net sales 1 46,004 64,873 88,030 110,627 129,819 157,463 184,898 209,590
EBITDA 1 4,438 8,371 13,289 13,423 18,867 20,891 26,840 31,739
EBIT 1 3,994 6,913 11,565 10,537 15,628 17,633 22,873 27,301
Net income 1 2,818 4,974 6,245 5,127 8,935 8,805 14,339 17,308
Net Debt 1 -10,031 -9,389 -15,158 -11,292 -11,690 -7,460 -17,300 -30,672
Reference price 2 1,676.00 1,352.67 2,000.00 909.33 1,530.00 938.40 938.40 938.40
Nbr of stocks (in thousands) 262,863 264,355 263,742 264,094 263,285 255,605 - -
Announcement Date 10/12/21 10/14/22 10/12/23 10/10/24 10/14/25 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
27.49x1.48x11.12x0.43% 1.5B
12.54x - - 2.36% 147M
-0.63x - - - 66.14M
Average 13.14x 1.48x 11.12x 1.4% 570.64M
Weighted average by Cap. 25.12x 1.48x 11.12x 0.61%

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