Company Valuation: Tokyu Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 958,592 1,062,448 1,104,456 977,945 1,062,583 980,308 - -
Change - 10.83% 3.95% -11.45% 8.65% -7.74% - -
Enterprise Value (EV) 1 2,102,073 2,280,625 2,316,631 2,207,536 2,363,783 2,324,942 2,347,055 2,336,627
Change - 8.49% 1.58% -4.71% 7.08% -1.64% 0.95% -0.44%
P/E 109x 41x 17.4x 12.5x 12.2x 10.8x 10.2x 9.98x
PBR 1.36x 1.46x 1.4x 1.17x 1.16x 1.04x 0.97x 0.9x
PEG - 0x 0x 0.5x 0.9x 1.86x 1.63x 5.66x
Capitalization / Revenue 1.09x 1.14x 1.06x 0.93x 0.98x 0.86x 0.85x 0.83x
EV / Revenue 2.39x 2.45x 2.23x 2.09x 2.18x 2.05x 2.03x 1.99x
EV / EBITDA 18.2x 17.9x 12.8x 11.6x 12.3x 11.5x 11.1x 10.7x
EV / EBIT 66.6x 51.1x 24.4x 21.3x 22.9x 21.1x 20.3x 19.7x
EV / FCF 311x -38.6x 52.3x 76.8x -45.2x -158x 315x 231x
FCF Yield 0.32% -2.59% 1.91% 1.3% -2.21% -0.63% 0.32% 0.43%
Dividend per Share 2 15 15 17.5 24 30 32.43 34.5 38.71
Rate of return 0.94% 0.85% 0.95% 1.42% 1.61% 1.87% 1.99% 2.23%
EPS 2 14.58 42.94 105.8 134.8 152.2 161.1 171.2 174.2
Distribution rate 103% 34.9% 16.5% 17.8% 19.7% 20.1% 20.2% 22.2%
Net sales 1 879,112 931,293 1,037,819 1,054,900 1,086,179 1,135,917 1,156,733 1,175,371
EBITDA 1 115,735 127,576 181,600 190,000 191,700 202,953 211,789 219,201
EBIT 1 31,544 44,603 94,905 103,400 103,193 110,042 115,717 118,671
Net income 1 8,782 25,995 63,763 79,600 87,071 91,117 96,060 95,929
Net Debt 1 1,143,481 1,218,177 1,212,175 1,229,591 1,301,200 1,344,634 1,366,747 1,356,319
Reference price 2 1,592.00 1,762.00 1,844.00 1,685.00 1,861.50 1,738.00 1,738.00 1,738.00
Nbr of stocks (in thousands) 602,131 602,978 598,946 580,383 570,821 564,044 - -
Announcement Date 5/13/22 5/11/23 5/13/24 5/14/25 5/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.79x2.05x11.46x1.87% 6.06B
7.24x3.8x7.94x0.87% 21.76B
13.01x1.57x8.05x3.34% 8.19B
13.37x2.01x12.68x2.23% 6.74B
27.97x7.26x21.14x1.98% 4.22B
13.8x0.93x10.7x1.89% 4.09B
13.57x2.84x14.3x1.9% 3.68B
14.81x2.9x12.81x3.5% 3.65B
10.03x1.96x10.38x2.55% 3.56B
10.4x1.76x10.05x2.91% 2.72B
Average 13.50x 2.71x 11.95x 2.3% 6.47B
Weighted average by Cap. 11.78x 2.92x 10.67x 1.94%

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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