Company Valuation: Tosei Corporation

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 45,990 66,066 87,052 118,197 160,582 170,149 - -
Change - 43.65% 31.77% 35.78% 35.86% 5.96% - -
Enterprise Value (EV) 131,754 162,756 198,645 253,982 309,111 170,149 170,149 170,149
Change - 23.53% 22.05% 27.86% 21.71% -44.96% 0% 0%
P/E 6.76x 7.72x 8.2x 9.86x 10.9x 10.4x 9.82x 8.94x
PBR 0.7x 0.92x 1.06x 1.31x 1.56x 1.5x 1.36x 1.22x
PEG - 0.3x 0.4x 0.8x 0.5x 0.9x 1.73x 0.91x
Capitalization / Revenue 0.75x 0.93x 1.1x 1.44x 1.7x 1.42x 1.31x 1.22x
EV / Revenue 0x 0x 0x 0x 0x 1.42x 1.31x 1.22x
EV / EBITDA 0x 0x 0x 0x 0x 6.23x 5.92x 5.14x
EV / EBIT 0x 0x 0x 0x 0x 6.58x 6.16x 5.58x
EV / FCF -0x -0x -0x -0x -0x -7.84x -56.3x 21.3x
FCF Yield -31.5% -14% -11.9% -15.8% -1.18% -12.8% -1.77% 4.69%
Dividend per Share 2 19 25.5 33 39.5 50 58 61 66.67
Rate of return 3.95% 3.64% 3.66% 3.24% 3.02% 3.31% 3.48% 3.8%
EPS 2 71.28 90.83 109.9 123.7 152.2 169 178.6 196.3
Distribution rate 26.7% 28.1% 30% 31.9% 32.9% 34.3% 34.1% 34%
Net sales 1 61,726 70,953 79,446 82,192 94,689 119,701 130,338 139,183
EBITDA 1 12,458 15,103 17,848 20,085 24,013 27,300 28,725 33,100
EBIT 1 10,966 13,514 16,254 18,489 22,337 25,856 27,638 30,467
Net income 1 6,721 8,607 10,507 11,985 14,796 16,380 17,300 19,000
Net Debt 85,764 96,690 111,593 135,785 148,529 - - -
Reference price 2 481.50 701.00 900.50 1,219.50 1,656.00 1,754.00 1,754.00 1,754.00
Nbr of stocks (in thousands) 95,515 94,245 96,671 96,922 96,970 97,006 - -
Announcement Date 1/12/22 1/12/23 1/12/24 1/10/25 1/14/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.38x - - 3.31% 1.08B
15.81x4.97x13.39x3.21% 44.96B
8.7x1.5x7.85x4.08% 30.07B
18.88x4.02x16.4x1.32% 28.9B
6.02x0.74x1.53x8.36% 28.78B
13.7x3.04x14.59x2.56% 25.3B
8.43x0.93x3.4x2.65% 21.55B
9.12x2.36x7.24x3.82% 21.5B
14.1x6.63x17.74x1.51% 20.59B
10.11x1.64x14.19x3.74% 18.42B
Average 11.52x 2.87x 10.70x 3.46% 24.12B
Weighted average by Cap. 12.04x 3.00x 10.75x 3.54%

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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