Company Valuation: Takeda Pharmaceutical Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 5,423,454 6,762,204 6,564,378 6,749,675 8,948,061 9,333,055 - -
Change - 24.68% -2.93% 2.82% 32.57% 4.3% - -
Enterprise Value (EV) 1 8,919,170 10,611,015 10,950,330 10,725,175 5,130,461 13,239,572 13,036,262 12,729,222
Change - 18.97% 3.2% -2.06% -52.16% 158.06% -1.54% -2.36%
P/E 23.8x 21.3x 45.4x 64.6x 46.4x 46.6x 29.9x 24.5x
PBR 0.95x 1.06x 0.9x 1x 1.2x 1.25x 1.25x 1.25x
PEG - 0.5x -0.8x -2.5x 0.6x 16.83x 0.5x 1.1x
Capitalization / Revenue 1.52x 1.68x 1.54x 1.47x 1.99x 1.99x 1.96x 1.91x
EV / Revenue 2.5x 2.63x 2.57x 2.34x 1.14x 2.82x 2.73x 2.6x
EV / EBITDA 8.54x 9.19x 11.6x 9.71x 4.54x 9.95x 9.18x 8.58x
EV / EBIT 19.4x 21.6x 51.1x 31.3x 12.6x 29.5x 21.9x 18.5x
EV / FCF 8.92x 28.7x 43.4x 15.5x 8.14x 18.5x 18.6x 17.4x
FCF Yield 11.2% 3.49% 2.31% 6.43% 12.3% 5.4% 5.37% 5.74%
Dividend per Share 2 180 180 188 196 200 204.3 208.4 214.9
Rate of return 5.15% 4.14% 4.49% 4.44% 3.53% 3.5% 3.56% 3.68%
EPS 2 147.1 204.3 92.09 68.36 122 125.4 195.3 238.8
Distribution rate 122% 88.1% 204% 287% 164% 163% 107% 90%
Net sales 1 3,569,006 4,027,478 4,263,762 4,581,600 4,505,700 4,694,598 4,772,892 4,892,621
EBITDA 1 1,043,995 1,154,905 942,077 1,103,982 1,129,888 1,330,479 1,420,133 1,484,285
EBIT 1 460,844 490,505 214,100 342,600 408,800 448,525 595,763 686,473
Net income 1 230,059 317,017 144,067 107,900 191,800 195,073 318,478 377,294
Net Debt 1 3,495,716 3,848,811 4,385,952 3,975,500 -3,817,600 3,906,517 3,703,207 3,396,167
Reference price 2 3,498.00 4,350.00 4,184.00 4,413.00 5,664.00 5,845.00 5,845.00 5,845.00
Nbr of stocks (in thousands) 1,550,444 1,554,530 1,568,924 1,529,498 1,579,813 1,596,759 - -
Announcement Date 5/11/22 5/11/23 5/9/24 5/8/25 5/13/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.93x11.96x24.23x0.6% 1,031B
29.57x - - 2.02% 641B
32.73x7.6x15.79x2.67% 453B
19.66x4.67x11.58x2.83% 349B
21.66x5.59x13.87x2.87% 290B
20.88x4.29x12.24x2.06% 252B
27.19x7.03x12.5x2.35% 232B
13.11x4.72x9.86x3.87% 201B
-44.72x6.46x25.22x2.25% 181B
Average 17.00x 6.54x 15.66x 2.39% 403.31B
Weighted average by Cap. 23.95x 7.98x 17.64x 1.98%

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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