Company Valuation: Tosoh Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 577,230 572,045 656,481 654,060 712,307 817,600 - -
Change - -0.9% 14.76% -0.37% 8.91% 14.78% - -
Enterprise Value (EV) 1 507,619 628,545 683,004 691,616 761,601 901,500 898,730 899,255
Change - 23.82% 8.66% 1.26% 10.12% 18.37% -0.31% 0.06%
P/E 5.35x 11.4x 11.5x 11.3x 17.5x 12.8x 11.8x 10.8x
PBR 0.81x 0.77x 0.83x 0.79x 0.86x 0.96x 0.92x 0.88x
PEG - -0.2x 0.8x 9.88x -0.6x 0.2x 1.42x 1.21x
Capitalization / Revenue 0.63x 0.54x 0.65x 0.62x 0.7x 0.72x 0.71x 0.68x
EV / Revenue 0.55x 0.59x 0.68x 0.65x 0.75x 0.79x 0.78x 0.75x
EV / EBITDA 2.75x 5.34x 5.49x 4.72x 5.3x 5.68x 5.26x 4.91x
EV / EBIT 3.52x 8.42x 8.55x 6.99x 7.97x 8.13x 7.58x 6.98x
EV / FCF 7.8x -6.62x 12x 27.6x 18.2x 30.9x 19.5x 16.4x
FCF Yield 12.8% -15.1% 8.35% 3.62% 5.5% 3.24% 5.12% 6.1%
Dividend per Share 2 80 80 85 100 100 100 106.7 113.1
Rate of return 4.41% 4.45% 4.12% 4.87% 4.32% 3.77% 4.02% 4.26%
EPS 2 339.2 158.1 180.1 182.1 132.4 208.1 225.4 245.5
Distribution rate 23.6% 50.6% 47.2% 54.9% 75.5% 48% 47.3% 46.1%
Net sales 1 918,580 1,064,376 1,005,640 1,063,382 1,019,917 1,135,495 1,151,865 1,201,042
EBITDA 1 184,708 117,668 124,356 146,414 143,613 158,578 170,727 183,269
EBIT 1 144,045 74,606 79,845 98,906 95,532 110,864 118,587 128,767
Net income 1 107,938 50,335 57,324 58,002 41,615 63,270 67,494 73,123
Net Debt 1 -69,611 56,500 26,523 37,556 49,294 83,900 81,130 81,654
Reference price 2 1,814.00 1,797.00 2,062.00 2,053.50 2,313.50 2,655.50 2,655.50 2,655.50
Nbr of stocks (in thousands) 318,209 318,334 318,371 318,510 307,892 307,889 - -
Announcement Date 5/12/22 5/12/23 5/13/24 5/13/25 5/13/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.14x3.39x9.59x2.07% 68.95B
12.6x0.95x7.93x4.27% 53.39B
58.06x9.32x39.69x0.94% 17.57B
13.07x0.87x6.11x2.8% 13.91B
12.98x0.76x5.03x2.64% 10.77B
15.93x0.72x7.8x3.1% 10.26B
37.97x1.73x9.11x2.01% 9.64B
31.69x4.34x18.56x0.36% 8.01B
5.19x0.62x2.66x1.32% 7.82B
Average 22.96x 2.52x 11.83x 2.17% 22.26B
Weighted average by Cap. 20.76x 2.65x 11.27x 2.59%

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