Company Valuation: Sysmex Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,866,735 1,808,504 1,659,187 1,769,142 852,822 994,018 - -
Change - -3.12% -8.26% 6.63% -51.79% 16.56% - -
Enterprise Value (EV) 1 1,813,764 1,761,635 1,637,709 1,744,307 839,186 1,012,628 1,012,833 1,000,825
Change - -2.87% -7.03% 6.51% -51.89% 20.67% 0.02% -1.19%
P/E 42.3x 39.5x 33.6x 33x 24.1x 25x 20.4x 17.5x
PBR 5.36x 4.67x 3.84x 3.81x 1.68x 1.97x 1.86x 1.75x
PEG - 10.48x 3.87x 3.85x -0.7x 1.6x 0.9x 1.1x
Capitalization / Revenue 5.13x 4.41x 3.6x 3.48x 1.71x 1.85x 1.76x 1.66x
EV / Revenue 4.99x 4.29x 3.55x 3.43x 1.68x 1.89x 1.79x 1.67x
EV / EBITDA 19.1x 16.7x 14.3x 13.8x 8.54x 9.46x 8.31x 7.36x
EV / EBIT 26.9x 23.9x 20.9x 19.9x 16.2x 16.5x 13.5x 11.5x
EV / FCF 76.6x 103x 183x 48.8x 36.7x 28.1x 25.9x 21.9x
FCF Yield 1.31% 0.97% 0.55% 2.05% 2.73% 3.56% 3.87% 4.57%
Dividend per Share 2 25.33 27.33 28 32 38 38.67 40.3 43.06
Rate of return 0.85% 0.95% 1.05% 1.13% 2.78% 2.36% 2.46% 2.62%
EPS 2 70.29 72.94 79.27 86.07 56.89 65.75 80.31 93.6
Distribution rate 36% 37.5% 35.3% 37.2% 66.8% 58.8% 50.2% 46%
Net sales 1 363,780 410,502 461,510 508,643 500,006 536,492 565,931 598,243
EBITDA 1 94,847 105,486 114,270 126,616 98,268 107,082 121,879 135,944
EBIT 1 67,416 73,679 78,382 87,583 51,831 61,275 74,937 87,201
Net income 1 44,093 45,784 49,639 53,669 35,457 40,285 49,112 57,058
Net Debt 1 -52,971 -46,869 -21,478 -24,835 -13,636 18,610 18,815 6,807
Reference price 2 2,974.33 2,881.00 2,661.50 2,837.00 1,368.50 1,641.00 1,641.00 1,641.00
Nbr of stocks (in thousands) 627,615 627,735 623,403 623,596 623,180 605,739 - -
Announcement Date 5/12/22 5/11/23 5/9/24 5/14/25 5/14/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30.33x4.12x15.94x2.43% 183B
19.48x3.4x11.97x3.46% 110B
17.69x0.2x12.35x0.76% 61.72B
31.86x7.93x20.12x1.25% 54.98B
37.16x3.29x11.22x2.3% 47.02B
51.64x1.34x11.82x0.22% 32.16B
33.13x5.85x18.35x-.--% 31.19B
40.93x7.17x25.74x0.26% 24.7B
25.62x3.75x13.16x1.12% 22.68B
Average 31.98x 4.12x 15.63x 1.31% 63.05B
Weighted average by Cap. 29.20x 3.91x 15.01x 1.92%

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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