Company Valuation: Sysmex Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,492,241 1,866,735 1,808,504 1,659,187 1,769,142 900,810 - -
Change - -25.1% -3.12% -8.26% 6.63% -49.08% - -
Enterprise Value (EV) 1 2,447,735 1,813,764 1,761,635 1,637,709 1,744,307 839,186 901,052 897,249
Change - -25.9% -2.87% -7.03% 6.51% -51.89% 4.6% -0.42%
P/E 75.2x 42.3x 39.5x 33.6x 33x 24.1x 22x 18.1x
PBR 8.09x 5.36x 4.67x 3.84x 3.81x 1.68x 1.74x 1.65x
PEG - 1.3x 10.48x 3.87x 3.85x -0.7x 1.1x 0.9x
Capitalization / Revenue 8.17x 5.13x 4.41x 3.6x 3.48x 1.71x 1.69x 1.59x
EV / Revenue 8.02x 4.99x 4.29x 3.55x 3.43x 1.68x 1.69x 1.59x
EV / EBITDA 31.6x 19.1x 16.7x 14.3x 13.8x 8.54x 8.26x 7.4x
EV / EBIT 47.3x 26.9x 23.9x 20.9x 19.9x 16.2x 14.1x 11.8x
EV / FCF 88.4x 76.6x 103x 183x 48.8x 36.7x 25.2x 23.2x
FCF Yield 1.13% 1.31% 0.97% 0.55% 2.05% 2.73% 3.97% 4.3%
Dividend per Share 2 24 25.33 27.33 28 32 38 37.4 39.34
Rate of return 0.6% 0.85% 0.95% 1.05% 1.13% 2.78% 2.55% 2.69%
EPS 2 52.88 70.29 72.94 79.27 86.07 56.89 66.67 80.67
Distribution rate 45.4% 36% 37.5% 35.3% 37.2% 66.8% 56.1% 48.8%
Net sales 1 305,073 363,780 410,502 461,510 508,643 500,006 534,194 565,140
EBITDA 1 77,367 94,847 105,486 114,270 126,616 98,268 109,144 121,240
EBIT 1 51,792 67,416 73,679 78,382 87,583 51,831 63,746 75,974
Net income 1 33,142 44,093 45,784 49,639 53,669 35,457 40,987 49,413
Net Debt 1 -44,506 -52,971 -46,869 -21,478 -24,835 -13,636 242.8 -3,561
Reference price 2 3,975.00 2,974.33 2,881.00 2,661.50 2,837.00 1,464.00 1,464.00 1,464.00
Nbr of stocks (in thousands) 626,979 627,615 627,735 623,403 623,596 615,307 - -
Announcement Date 5/12/21 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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.56x1.72x7.93x2.57% 5.57B
23.67x3.49x13.12x2.71% 164B
18.48x3.22x11.33x3.66% 104B
15.73x0.18x11.29x0.83% 55.67B
32.33x7.85x20.51x1.24% 52.92B
38.85x3.07x10.53x2.47% 42.96B
37.21x1.36x11.99x0.21% 32.87B
28.66x5.1x16.26x-.--% 27.07B
41.67x7.22x26.05x0.26% 24.79B
23.73x3.47x12.47x1.22% 21.02B
Average 28.69x 3.67x 14.15x 1.52% 53.05B
Weighted average by Cap. 25.88x 3.60x 13.72x 2.06%

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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