Company Valuation: Advantest Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,859,608 2,237,070 5,033,620 4,748,144 14,755,312 22,493,639 - -
Change - 20.3% 125.01% -5.67% 210.76% 52.44% - -
Enterprise Value (EV) 1 1,786,489 2,202,377 5,021,361 4,579,103 14,435,538 21,921,943 21,557,964 21,010,302
Change - 23.28% 128% -8.81% 215.25% 51.86% -1.66% -2.54%
P/E 21.5x 17.4x 80.7x 29.6x 39.5x 33.1x 25.5x 21.9x
PBR 6.23x 6.07x 11.7x 9.37x 18.5x 17.8x 12x 8.55x
PEG - 0.3x -1.6x 0x 0x 0.4x 0.9x 1.3x
Capitalization / Revenue 4.46x 3.99x 10.3x 6.09x 13.1x 12.8x 9.94x 8.47x
EV / Revenue 4.29x 3.93x 10.3x 5.87x 12.8x 12.4x 9.53x 7.92x
EV / EBITDA 13.8x 11.6x 46.6x 17.9x 27.5x 24.1x 18.7x 15.7x
EV / EBIT 15.6x 13.1x 61.5x 20.1x 28.9x 24.7x 18.3x 15.3x
EV / FCF 55.9x 50.6x 1,062x 17.1x 48.3x 41.2x 27.5x 19.8x
FCF Yield 1.79% 1.98% 0.09% 5.86% 2.07% 2.43% 3.64% 5.04%
Dividend per Share 2 30 33.75 34.25 39 59 91.37 114.9 156
Rate of return 1.24% 1.11% 0.5% 0.6% 0.29% 0.29% 0.37% 0.5%
EPS 2 112.4 174.4 84.45 218.7 515.2 939.7 1,218 1,421
Distribution rate 26.7% 19.4% 40.6% 17.8% 11.5% 9.72% 9.44% 11%
Net sales 1 416,901 560,191 486,507 779,707 1,128,610 1,761,014 2,262,144 2,654,196
EBITDA 1 129,702 189,083 107,732 255,236 524,732 908,042 1,154,324 1,337,975
EBIT 1 114,734 167,687 81,628 228,161 499,120 887,832 1,175,261 1,377,410
Net income 1 87,301 130,400 62,290 161,177 375,353 680,819 879,535 1,022,204
Net Debt 1 -73,119 -34,693 -12,259 -169,041 -319,774 -571,696 -935,675 -1,483,337
Reference price 2 2,417.50 3,040.00 6,819.00 6,472.00 20,330.00 31,070.00 31,070.00 31,070.00
Nbr of stocks (in thousands) 769,228 735,878 738,176 733,644 725,790 723,966 - -
Announcement Date 27/04/22 26/04/23 26/04/24 25/04/25 27/04/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
33.9x11.83x27.01x0.66% 605B
28.62x8.66x25.13x0.52% 299B
24.05x7.94x19.08x0.55% 287B
27.06x10.62x21.98x0.66% 190B
34.42x12.97x25.15x0.28% 149B
27.42x6.18x18.84x1.77% 137B
34.11x3.76x17.09x1.54% 88.23B
52.06x7.73x41.15x0.17% 58.48B
34.29x9.22x25.69x0.17% 48.29B
Average 32.88x 8.77x 24.57x 0.7% 207.05B
Weighted average by Cap. 30.99x 9.70x 24.16x 0.68%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Advantest Corporation

Historical PBR trend

Valuation ratios - PBR - Advantest Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Advantest Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Advantest Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - Advantest Corporation
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