Company Valuation: Taisei Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 713,045 771,360 1,037,992 1,144,867 2,617,131 1,988,705 - -
Change - 8.18% 34.57% 10.3% 128.6% -24.01% - -
Enterprise Value (EV) 1 439,165 558,172 981,809 1,162,137 2,802,275 2,106,118 2,079,668 2,036,626
Change - 27.1% 75.9% 18.37% 141.13% -24.84% -1.26% -2.07%
P/E 10.1x 17x 26x 9.68x 15.7x 11.8x 12.1x 11x
PBR 0.82x 0.93x 1.12x 1.31x 2.76x 1.98x 1.87x 1.73x
PEG - -0.5x -2.5x 0x 0.3x 11.97x -4.78x 1.1x
Capitalization / Revenue 0.46x 0.47x 0.59x 0.53x 1.25x 0.82x 0.8x 0.78x
EV / Revenue 0.28x 0.34x 0.56x 0.54x 1.34x 0.87x 0.84x 0.79x
EV / EBITDA 4.1x 8.43x 24.8x 8.51x 13.7x 9.8x 8.97x 8.06x
EV / EBIT 4.57x 10.2x 37.1x 9.67x 14.9x 10.7x 9.74x 8.6x
EV / FCF 10.3x 34.8x -10x -351x -57.7x 15.6x 13.8x 13.3x
FCF Yield 9.75% 2.87% -10% -0.28% -1.73% 6.42% 7.24% 7.53%
Dividend per Share 2 130 130 130 210 310 420 421.7 449
Rate of return 3.68% 3.17% 2.31% 3.18% 1.93% 3.44% 3.46% 3.68%
EPS 2 350.9 241.2 215.8 682.8 1,026 1,036 1,009 1,113
Distribution rate 37% 53.9% 60.3% 30.8% 30.2% 40.6% 41.8% 40.3%
Net sales 1 1,543,240 1,642,712 1,765,023 2,154,223 2,089,091 2,417,456 2,488,912 2,565,940
EBITDA 1 106,984 66,218 39,590 136,551 204,739 215,013 231,846 252,800
EBIT 1 96,077 54,740 26,480 120,160 187,973 196,823 213,468 236,880
Net income 1 71,436 47,124 40,272 123,824 170,004 168,218 161,532 174,220
Net Debt 1 -273,880 -213,188 -56,183 17,270 185,144 117,413 90,963 47,921
Reference price 2 3,535.00 4,095.00 5,620.00 6,609.00 16,055.00 12,200.00 12,200.00 12,200.00
Nbr of stocks (in thousands) 201,710 188,366 184,696 173,229 163,010 163,009 - -
Announcement Date 5/13/22 5/12/23 5/13/24 5/13/25 5/14/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
57.17x2.64x25.17x0.07% 99.62B
11.62x1.01x5.53x5.03% 65.88B
34.7x4.37x23.7x0.19% 59.21B
24.76x1.92x18.92x1.19% 52.66B
48.38x3.9x24.64x2% 37.76B
23.48x1.6x14.78x0.2% 33.92B
27.15x0.68x11.23x2.27% 33.56B
21.83x0.43x6.79x2.83% 28.72B
5.01x0.31x5.98x5.63% 26.71B
Average 28.23x 1.87x 15.19x 2.16% 48.67B
Weighted average by Cap. 32.22x 2.13x 16.97x 1.83%

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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