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 2,027,012 - -
Change - 8.18% 34.57% 10.3% 128.6% -22.55% - -
Enterprise Value (EV) 1 439,165 558,172 981,809 1,162,137 2,802,275 2,144,425 2,117,975 2,074,933
Change - 27.1% 75.9% 18.37% 141.13% -23.48% -1.23% -2.03%
P/E 10.1x 17x 26x 9.68x 15.7x 12x 12.3x 11.2x
PBR 0.82x 0.93x 1.12x 1.31x 2.76x 2.02x 1.91x 1.76x
PEG - -0.5x -2.5x 0x 0.3x 12.17x -4.86x 1.1x
Capitalization / Revenue 0.46x 0.47x 0.59x 0.53x 1.25x 0.84x 0.81x 0.79x
EV / Revenue 0.28x 0.34x 0.56x 0.54x 1.34x 0.89x 0.85x 0.81x
EV / EBITDA 4.1x 8.43x 24.8x 8.51x 13.7x 9.97x 9.14x 8.21x
EV / EBIT 4.57x 10.2x 37.1x 9.67x 14.9x 10.9x 9.92x 8.76x
EV / FCF 10.3x 34.8x -10x -351x -57.7x 15.8x 14.1x 13.5x
FCF Yield 9.75% 2.87% -10% -0.28% -1.73% 6.31% 7.11% 7.39%
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% 3.38% 3.39% 3.61%
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 12,435.00 12,435.00 12,435.00
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.($)
12.01x0.89x9.97x3.38% 12.88B
56.12x2.59x24.69x0.07% 97.59B
12.25x1.05x5.75x4.77% 70.29B
34.15x4.3x23.32x0.2% 58.29B
26.07x2.01x19.74x1.13% 55.68B
50.74x4.04x25.56x1.91% 39.91B
27.22x0.68x11.26x2.27% 34.06B
23.27x1.59x14.65x0.2% 33.62B
21.79x0.43x6.88x2.79% 29.56B
4.92x0.31x5.78x5.98% 26.22B
Average 26.85x 1.79x 14.76x 2.27% 45.81B
Weighted average by Cap. 31.53x 2.09x 16.70x 1.88%

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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