Company Valuation: Shimadzu Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,247,857 1,219,940 1,246,677 1,081,847 1,065,901 1,196,213 - -
Change - -2.24% 2.19% -13.22% -1.47% 12.23% - -
Enterprise Value (EV) 1 1,091,600 1,071,936 1,093,306 950,180 909,068 1,067,004 1,043,337 1,016,075
Change - -1.8% 1.99% -13.09% -4.33% 17.37% -2.22% -2.61%
P/E 26.4x 23.4x 21.9x 20.3x 17.6x 20.8x 19.1x 17.3x
PBR 3.27x 2.88x 2.53x 2.16x 1.89x 2.05x 1.91x 1.79x
PEG - 2.3x 2.29x -3.93x 1.3x -4.26x 2.16x 1.7x
Capitalization / Revenue 2.91x 2.53x 2.44x 2.01x 1.9x 2.01x 1.91x 1.82x
EV / Revenue 2.55x 2.22x 2.14x 1.76x 1.62x 1.79x 1.67x 1.54x
EV / EBITDA 13.6x 12.5x 12x 10.4x 9.66x 10.5x 9.33x 8.42x
EV / EBIT 17.1x 15.7x 15x 13.2x 12.3x 13.7x 12.4x 11.1x
EV / FCF 19x 41.6x 77.4x 33x 23.4x 73.1x 21.4x 18.5x
FCF Yield 5.25% 2.41% 1.29% 3.03% 4.27% 1.37% 4.66% 5.39%
Dividend per Share 2 48 54 60 66 69 69.82 75.54 81.33
Rate of return 1.13% 1.3% 1.42% 1.77% 1.87% 1.69% 1.82% 1.96%
EPS 2 160.5 176.6 193.5 183.6 209.4 199.2 216.8 238.6
Distribution rate 29.9% 30.6% 31% 36% 33% 35.1% 34.8% 34.1%
Net sales 1 428,175 482,240 511,895 539,047 560,728 595,688 625,936 657,876
EBITDA 1 80,011 85,743 91,304 91,615 94,083 101,717 111,815 120,692
EBIT 1 63,806 68,219 72,753 71,720 73,702 77,906 84,280 91,825
Net income 1 47,289 52,048 57,037 53,776 60,499 57,677 62,620 67,953
Net Debt 1 -156,257 -148,004 -153,371 -131,667 -156,833 -129,208 -152,876 -180,138
Reference price 2 4,235.00 4,140.00 4,230.00 3,730.00 3,689.00 4,140.00 4,140.00 4,140.00
Nbr of stocks (in thousands) 294,653 294,672 294,723 290,039 288,940 288,940 - -
Announcement Date 5/10/22 5/10/23 5/10/24 5/12/25 5/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.79x1.79x10.49x1.69% 7.41B
28.64x6.66x21.27x-.--% 26.19B
387.3x - - - 4.74B
39.14x2.49x15.41x1.65% 2.84B
18.22x2.05x10.25x1.69% 2.37B
44.11x10.71x42.2x0.98% 1.98B
36.61x7.48x26.01x0.23% 1.25B
31.08x3.21x15.48x0.8% 1.02B
13.58x - - - 825M
Average 68.83x 4.91x 20.16x 1% 5.4B
Weighted average by Cap. 63.16x 5.42x 19.38x 0.56%

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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