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 1,200,835 - -
Change - -2.24% 2.19% -13.22% -1.47% 12.66% - -
Enterprise Value (EV) 1 1,091,600 1,071,936 1,093,306 950,180 909,068 1,102,075 1,078,843 1,047,953
Change - -1.8% 1.99% -13.09% -4.33% 21.23% -2.11% -2.86%
P/E 26.4x 23.4x 21.9x 20.3x 17.6x 20.5x 18.7x 16.8x
PBR 3.27x 2.88x 2.53x 2.16x 1.89x 2.04x 1.9x 1.74x
PEG - 2.3x 2.29x -3.93x 1.3x -6.26x 1.96x 1.4x
Capitalization / Revenue 2.91x 2.53x 2.44x 2.01x 1.9x 1.99x 1.86x 1.74x
EV / Revenue 2.55x 2.22x 2.14x 1.76x 1.62x 1.82x 1.67x 1.52x
EV / EBITDA 13.6x 12.5x 12x 10.4x 9.66x 10.1x 9.21x 8.08x
EV / EBIT 17.1x 15.7x 15x 13.2x 12.3x 14x 12.6x 10.9x
EV / FCF 19x 41.6x 77.4x 33x 23.4x -44.4x 23.9x 20.1x
FCF Yield 5.25% 2.41% 1.29% 3.03% 4.27% -2.25% 4.19% 4.98%
Dividend per Share 2 48 54 60 66 69 70.54 76.75 84.19
Rate of return 1.13% 1.3% 1.42% 1.77% 1.87% 1.7% 1.85% 2.03%
EPS 2 160.5 176.6 193.5 183.6 209.4 202.5 221.9 247.8
Distribution rate 29.9% 30.6% 31% 36% 33% 34.8% 34.6% 34%
Net sales 1 428,175 482,240 511,895 539,047 560,728 604,866 646,427 689,751
EBITDA 1 80,011 85,743 91,304 91,615 94,083 109,233 117,088 129,765
EBIT 1 63,806 68,219 72,753 71,720 73,702 78,803 85,942 96,488
Net income 1 47,289 52,048 57,037 53,776 60,499 58,348 63,918 71,318
Net Debt 1 -156,257 -148,004 -153,371 -131,667 -156,833 -98,760 -121,992 -152,882
Reference price 2 4,235.00 4,140.00 4,230.00 3,730.00 3,689.00 4,156.00 4,156.00 4,156.00
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.($)
20.84x1.85x10.26x1.67% 7.66B
30.48x7.2x22.79x-.--% 28.43B
266.29x - - - 3.39B
40.48x2.62x16.08x1.53% 2.97B
20.67x2.41x12.8x1.47% 2.71B
38.72x9.13x35.99x1.15% 1.74B
37.71x7.77x31.06x0.24% 1.38B
24.87x2.68x12.88x1% 855M
13.87x - - - 847M
Average 54.88x 4.81x 20.27x 1.01% 5.55B
Weighted average by Cap. 45.18x 5.73x 20.23x 0.54%

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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