Company Valuation: Subaru Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,493,979 1,621,784 2,592,189 1,933,586 1,776,767 1,774,475 - -
Change - 8.55% 59.84% -25.41% -8.11% -0.13% - -
Enterprise Value (EV) 1 701,746 1,072,755 1,943,689 1,391,626 1,155,933 1,244,821 1,120,765 1,056,468
Change - 52.87% 81.19% -28.4% -16.94% 7.69% -9.97% -5.74%
P/E 21.3x 8.09x 6.77x 5.77x 19.8x 10.5x 8.38x 7.59x
PBR 0.79x 0.77x 1.01x 0.71x 0.64x 0.62x 0.59x 0.56x
PEG - 0x 0.1x -0.6x -0.3x 0.1x 0.3x 0.7x
Capitalization / Revenue 0.54x 0.43x 0.55x 0.41x 0.37x 0.35x 0.33x 0.33x
EV / Revenue 0.26x 0.28x 0.41x 0.3x 0.24x 0.24x 0.21x 0.2x
EV / EBITDA 2.23x 2.11x 2.83x 2.18x 3.71x 4.03x 3.21x 2.78x
EV / EBIT 7.76x 4.01x 4.15x 3.43x 28.8x 6.89x 4.83x 4.11x
EV / FCF 7.43x 2.91x 3.35x 15.8x 4.75x 15.1x 6.17x 7.22x
FCF Yield 13.5% 34.4% 29.8% 6.33% 21.1% 6.64% 16.2% 13.8%
Dividend per Share 2 56 76 106 115 115.5 121.3 126.5 132.1
Rate of return 2.87% 3.59% 3.07% 4.35% 4.65% 4.82% 5.02% 5.25%
EPS 2 91.28 261.3 509.2 458 125.5 238.8 300.5 331.7
Distribution rate 61.3% 29.1% 20.8% 25.1% 92% 50.8% 42.1% 39.8%
Net sales 1 2,744,520 3,774,468 4,702,947 4,685,763 4,784,965 5,126,625 5,307,853 5,415,257
EBITDA 1 314,507 507,289 685,978 637,849 311,226 309,205 349,450 379,538
EBIT 1 90,452 267,483 468,198 405,308 40,120 180,603 231,807 256,977
Net income 1 70,007 200,431 385,084 338,062 90,842 166,234 200,190 218,847
Net Debt 1 -792,233 -549,029 -648,500 -541,960 -620,834 -529,655 -653,710 -718,007
Reference price 2 1,948.00 2,114.50 3,448.00 2,645.00 2,483.50 2,518.50 2,518.50 2,518.50
Nbr of stocks (in thousands) 766,929 766,982 751,795 731,034 715,429 704,576 - -
Announcement Date 5/12/22 5/11/23 5/13/24 5/14/25 5/15/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.64x1.24x11.45x3.54% 210B
6.42x0.33x2.65x0.96% 70.01B
9.82x1.27x13.85x2.58% 66.99B
21.57x0.29x3.71x4.25% 56.5B
8.03x0.11x1.01x7.11% 48.93B
25.38x1.34x7.54x2.32% 46.31B
3.9x0x0.03x7.61% 43.3B
7.92x-0.07x-0.61x4.94% 40.92B
13.56x0.6x7.17x4.63% 36.3B
Average 11.80x 0.57x 5.20x 4.21% 68.81B
Weighted average by Cap. 11.15x 0.76x 7.05x 3.84%

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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