Company Valuation: Unicharm Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,977,963 3,006,792 3,009,033 2,291,263 1,557,242 1,699,290 - -
Change - 0.97% 0.07% -23.85% -32.04% 9.12% - -
Enterprise Value (EV) 1 2,708,978 2,726,211 2,677,383 2,057,060 1,315,205 1,458,203 1,454,200 1,429,162
Change - 0.64% -1.79% -23.17% -36.06% 10.87% -0.27% -1.72%
P/E 41x 44.6x 35.1x 28.1x 24x 21.7x 19.4x 17.7x
PBR 5.35x 4.86x 4.32x 2.96x 1.96x 2.1x 1.96x 1.87x
PEG - -6.65x 1.3x -6.6x -1.2x 1x 1.6x 1.92x
Capitalization / Revenue 3.8x 3.35x 3.2x 2.32x 1.65x 1.69x 1.61x 1.54x
EV / Revenue 3.46x 3.04x 2.84x 2.08x 1.39x 1.45x 1.38x 1.3x
EV / EBITDA 16.9x 16.9x 15.6x 11.1x 8.39x 8.56x 7.93x 7.35x
EV / EBIT 22.1x 22.8x 20.9x 14.9x 12.1x 11.7x 10.6x 9.6x
EV / FCF 39.4x 32x 23.1x 22.3x 13.4x 17.8x 16.3x 15x
FCF Yield 2.54% 3.12% 4.33% 4.48% 7.46% 5.62% 6.14% 6.66%
Dividend per Share 2 12 12.67 13.33 14.67 18 21.85 23.77 25.84
Rate of return 0.72% 0.75% 0.78% 1.13% 2.01% 2.21% 2.41% 2.62%
EPS 2 40.59 37.87 48.47 46.41 37.3 45.46 50.96 55.65
Distribution rate 29.6% 33.4% 27.5% 31.6% 48.3% 48.1% 46.6% 46.4%
Net sales 1 782,723 898,022 941,790 988,981 945,268 1,004,741 1,055,001 1,103,385
EBITDA 1 160,408 161,052 171,227 185,001 156,692 170,319 183,361 194,563
EBIT 1 122,482 119,566 127,974 138,463 108,884 124,877 137,346 148,926
Net income 1 72,745 67,608 86,053 81,842 65,212 79,010 87,746 95,190
Net Debt 1 -268,985 -280,581 -331,650 -234,203 -242,037 -241,087 -245,090 -270,128
Reference price 2 1,666.33 1,689.33 1,699.33 1,302.50 895.00 987.50 987.50 987.50
Nbr of stocks (in thousands) 1,787,135 1,779,869 1,770,714 1,759,127 1,739,935 1,720,800 - -
Announcement Date 2/15/22 2/8/23 2/7/24 2/13/25 2/12/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.72x1.45x8.56x2.21% 10.68B
15.94x2.51x11.41x4.67% 36.71B
9.95x1.03x5.7x6.52% 3.63B
18.66x3.31x12.37x2.29% 2.75B
22.44x0.77x8.52x1.64% 1.33B
14.1x - - 5.5% 839M
23.86x - - 3.31% 763M
18.04x - - 2.2% 750M
Average 18.09x 1.81x 9.31x 3.54% 7.18B
Weighted average by Cap. 17.02x 2.20x 10.46x 4.11%

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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