Company Valuation: ASICS Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 466,756 533,755 809,538 2,225,941 2,660,881 3,261,699 - -
Change - 14.35% 51.67% 174.96% 19.54% 22.58% - -
Enterprise Value (EV) 1 480,931 606,170 827,650 2,156,196 2,647,143 3,166,702 3,109,771 3,052,333
Change - 26.04% 36.54% 160.52% 22.77% 19.63% -1.8% -1.85%
P/E 49.6x 26.8x 22.9x 35.2x 27.2x 25.6x 22.1x 19.8x
PBR 3.2x 3.13x 3.95x 9.55x 9.8x 8.92x 7.19x 5.79x
PEG - 0x 0.3x 0.4x 0.5x 0.9x 1.4x 1.7x
Capitalization / Revenue 1.16x 1.1x 1.42x 3.28x 3.28x 3.18x 2.86x 2.59x
EV / Revenue 1.19x 1.25x 1.45x 3.18x 3.26x 3.09x 2.73x 2.43x
EV / EBITDA 13.4x 12.1x 11.7x 17.8x 15.7x 14.2x 12.6x 11.3x
EV / EBIT 21.9x 17.8x 15.3x 21.5x 18.6x 16.4x 14.2x 12.5x
EV / FCF 12.3x -16.9x 11.1x 26.8x 33.5x 32.8x 23x 20.1x
FCF Yield 8.1% -5.92% 9.01% 3.73% 2.98% 3.05% 4.35% 4.97%
Dividend per Share 2 6 10 16.25 20 28 44 48.08 54
Rate of return 0.94% 1.37% 1.47% 0.64% 0.75% 0.96% 1.05% 1.17%
EPS 2 12.84 27.15 48.13 88.3 138.1 179.7 208.3 232.2
Distribution rate 46.7% 36.8% 33.8% 22.7% 20.3% 24.5% 23.1% 23.3%
Net sales 1 404,082 484,601 570,463 678,526 810,916 1,025,011 1,140,204 1,257,988
EBITDA 1 35,996 50,002 70,719 121,353 168,442 223,252 246,997 269,275
EBIT 1 21,945 34,002 54,215 100,111 142,519 193,409 218,531 243,378
Net income 1 9,402 19,887 35,272 63,806 98,719 127,421 144,911 162,589
Net Debt 1 14,175 72,415 18,112 -69,745 -13,738 -94,997 -151,928 -209,366
Reference price 2 637.50 728.50 1,104.50 3,110.00 3,755.00 4,601.00 4,601.00 4,601.00
Nbr of stocks (in thousands) 732,167 732,677 732,945 715,737 708,624 708,911 - -
Announcement Date 10/02/22 10/02/23 09/02/24 14/02/25 13/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.6x3.1x14.18x0.96% 20.39B
23.01x1.32x15.53x4.09% 58.75B
16.4x1.13x8.52x2.38% 31.13B
19.27x1.86x9.34x-.--% 9.64B
13.65x0.82x7.7x5.03% 2.13B
7.71x0.36x2.36x6.83% 1.32B
5.76x0.35x2.07x7.59% 1.26B
6.79x1.21x5.56x11.5% 808M
13.37x0.35x5.26x1.65% 133M
Average 14.62x 1.17x 7.84x 4.45% 13.95B
Weighted average by Cap. 20.90x 1.57x 12.62x 2.97%

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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