Company Valuation: Tsugami Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 84,638 64,375 69,083 54,679 86,471 149,170
Change - -23.94% 7.31% -20.85% 58.14% 72.51%
Enterprise Value (EV) 1 77,343 59,120 61,343 41,388 70,628 116,364
Change - -23.56% 3.76% -32.53% 70.65% 64.76%
P/E 17.9x 7.07x 9.11x 10.4x 7.96x 8.96x
PBR 2.21x 1.41x 1.36x 0.97x 1.37x 1.86x
PEG - 0x -0.6x -0.4x 0x 0.2x
Capitalization / Revenue 1.37x 0.69x 0.73x 0.65x 0.81x 1.16x
EV / Revenue 1.25x 0.63x 0.65x 0.49x 0.66x 0.9x
EV / EBITDA 7.34x 2.72x 3.44x 2.96x 2.9x 3.2x
EV / EBIT 8.57x 2.96x 3.88x 3.47x 3.19x 3.4x
EV / FCF 33.4x -194x 11x 6.68x 15x 6.66x
FCF Yield 2.99% -0.51% 9.11% 15% 6.65% 15%
Dividend per Share 2 26 40 46 48 59 85
Rate of return 1.56% 3.01% 3.21% 4.17% 3.24% 2.66%
EPS 2 93.08 188.1 157.3 111 228.6 356.5
Distribution rate 27.9% 21.3% 29.2% 43.2% 25.8% 23.8%
Net sales 1 61,662 93,174 94,963 83,928 107,411 129,140
EBITDA 1 10,535 21,764 17,837 13,978 24,367 36,377
EBIT 1 9,030 19,949 15,799 11,929 22,153 34,195
Net income 1 4,917 9,486 7,695 5,376 10,901 16,745
Net Debt 1 -7,295 -5,255 -7,740 -13,291 -15,843 -32,806
Reference price 2 1,663.00 1,330.00 1,434.00 1,150.00 1,820.00 3,195.00
Nbr of stocks (in thousands) 50,895 48,402 48,175 47,547 47,511 46,689
Announcement Date 6/16/21 6/22/22 6/21/23 6/19/24 6/17/25 6/16/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.72B
45.26x - - - 3.43B
35.27x1.26x10.38x2.86% 3.25B
49.96x9.93x32.57x0.92% 3.17B
13.7x2.71x8.68x3.24% 2.72B
7.85x1.25x5.17x2.63% 2.3B
13.22x1.03x7.27x2.59% 2.13B
27.38x - - 0.92% 2.04B
Average 27.52x 3.23x 12.81x 2.19% 2.6B
Weighted average by Cap. 29.81x 3.54x 13.85x 2.21%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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