Company Valuation: Sumitomo Rubber Industries, Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 308,232 302,986 402,944 469,111 634,356 532,921 - -
Change - -1.7% 32.99% 16.42% 35.23% -15.99% - -
Enterprise Value (EV) 1 471,784 540,942 626,749 700,320 857,765 827,975 782,609 751,317
Change - 14.66% 15.86% 11.74% 22.48% -3.47% -5.48% -4%
P/E 10.5x 32.2x 10.9x 47.5x 12.6x 9.28x 7.32x 6.41x
PBR 0.61x 0.55x 0.65x 0.71x 0.89x 0.71x 0.67x 0.63x
PEG - -0.5x 0x -0.6x 0x 0.7x 0.3x 0.5x
Capitalization / Revenue 0.33x 0.28x 0.34x 0.39x 0.53x 0.41x 0.39x 0.37x
EV / Revenue 0.5x 0.49x 0.53x 0.58x 0.71x 0.63x 0.57x 0.53x
EV / EBITDA 4.04x 5.99x 4.38x 7.42x 5.32x 5.15x 4.04x 3.55x
EV / EBIT 9.59x 36.1x 9.72x 62.6x 10.4x 9.08x 6.68x 5.66x
EV / FCF 52x -10.6x 6.31x 26.7x -23.7x 29.9x 14.3x 11.4x
FCF Yield 1.92% -9.4% 15.9% 3.75% -4.21% 3.35% 7% 8.76%
Dividend per Share 2 55 35 58 58 77 88.47 109.1 126.7
Rate of return 4.69% 3.04% 3.79% 3.25% 3.19% 4.36% 5.38% 6.25%
EPS 2 112 35.8 140.9 37.51 191.6 218.6 277 316.1
Distribution rate 49.1% 97.8% 41.2% 155% 40.2% 40.5% 39.4% 40.1%
Net sales 1 936,000 1,098,700 1,177,400 1,211,856 1,207,061 1,304,078 1,365,964 1,421,892
EBITDA 1 116,893 90,336 143,049 94,354 161,253 160,767 193,618 211,484
EBIT 1 49,200 15,000 64,500 11,186 82,584 91,173 117,146 132,781
Net income 1 29,500 9,400 37,000 9,865 50,379 55,468 72,765 82,714
Net Debt 1 163,552 237,956 223,805 231,209 223,409 295,054 249,688 218,396
Reference price 2 1,172.00 1,152.00 1,532.00 1,783.50 2,413.50 2,027.50 2,027.50 2,027.50
Nbr of stocks (in thousands) 262,996 263,009 263,018 263,028 262,837 262,846 - -
Announcement Date 2/9/22 2/14/23 2/14/24 2/13/25 2/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.28x0.63x5.15x4.36% 3.47B
12.97x0.99x5.23x3.54% 30.46B
13.71x1x5.59x4% 26.59B
8.07x1.11x5.26x3.49% 7.02B
10.83x1.1x6.28x2.74% 6.87B
9.51x - - 3.2% 6.27B
17.85x - - 3.14% 4.92B
7.57x0.81x3.92x3.89% 3.59B
35.54x1.91x10.73x1.88% 2.56B
5.71x0.34x3.09x3.3% 2.29B
Average 13.10x 0.98x 5.66x 3.35% 9.4B
Weighted average by Cap. 12.77x 1.00x 5.49x 3.56%

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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