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 1,062,583 951,815 - -
Change - 10.83% 3.95% -11.45% 8.65% -10.42% - -
Enterprise Value (EV) 1 2,102,073 2,280,625 2,316,631 2,207,536 2,363,783 2,296,448 2,318,561 2,308,134
Change - 8.49% 1.58% -4.71% 7.08% -2.85% 0.96% -0.45%
P/E 109x 41x 17.4x 12.5x 12.2x 10.4x 9.76x 9.59x
PBR 1.36x 1.46x 1.4x 1.17x 1.16x 1x 0.93x 0.87x
PEG - 0x 0x 0.5x 0.9x 1.8x 1.56x 5.44x
Capitalization / Revenue 1.09x 1.14x 1.06x 0.93x 0.98x 0.84x 0.82x 0.81x
EV / Revenue 2.39x 2.45x 2.23x 2.09x 2.18x 2.02x 2x 1.96x
EV / EBITDA 18.2x 17.9x 12.8x 11.6x 12.3x 11.3x 10.9x 10.5x
EV / EBIT 66.6x 51.1x 24.4x 21.3x 22.9x 20.9x 20x 19.4x
EV / FCF 311x -38.6x 52.3x 76.8x -45.2x -156x 311x 228x
FCF Yield 0.32% -2.59% 1.91% 1.3% -2.21% -0.64% 0.32% 0.44%
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% 1.94% 2.07% 2.32%
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 1,670.00 1,670.00 1,670.00
Nbr of stocks (in thousands) 602,131 602,978 598,946 580,383 570,821 569,949 - -
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.($)
10.32x2.02x11.29x1.95% 5.89B
6.75x3.69x7.7x0.94% 20.5B
12.06x1.52x7.78x3.6% 7.64B
12.58x1.97x12.42x2.38% 6.46B
28.28x7.34x21.38x1.96% 4.25B
13.35x0.92x10.57x1.96% 3.99B
15.01x2.8x11.99x2.84% 3.59B
9.78x1.94x10.27x2.61% 3.49B
12.47x2.62x12.87x1.78% 3.53B
10.11x1.72x9.81x3% 2.61B
Average 13.07x 2.65x 11.61x 2.3% 6.19B
Weighted average by Cap. 11.37x 2.86x 10.45x 1.99%

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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