Company Valuation: Canon Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,929,211 2,899,801 3,575,836 4,871,959 4,070,674 3,684,432 - -
Change - -1% 23.31% 36.25% -16.45% -9.49% - -
Enterprise Value (EV) 1 2,749,080 2,944,208 3,588,005 4,889,024 4,430,852 3,988,198 3,952,866 3,816,919
Change - 7.1% 21.87% 36.26% -9.37% -9.99% -0.89% -3.44%
P/E 13.6x 12.1x 13.7x 31.2x 12.6x 11.5x 11x 10.2x
PBR 1.02x 0.93x 1.07x 1.48x 1.17x 1.05x 1x 0.94x
PEG - 0.8x 1.2x -0.8x 0x 4.73x 2.34x 1.33x
Capitalization / Revenue 0.83x 0.72x 0.86x 1.08x 0.88x 0.77x 0.75x 0.73x
EV / Revenue 0.78x 0.73x 0.86x 1.08x 0.96x 0.84x 0.8x 0.76x
EV / EBITDA 5.46x 5.08x 5.84x 9.49x 6.38x 5.73x 5.5x 5.05x
EV / EBIT 9.75x 8.33x 9.56x 17.5x 9.73x 8.68x 8.28x 7.48x
EV / FCF 10x 36x 20.4x 13.9x 19.6x 14.4x 13.4x 12.1x
FCF Yield 9.96% 2.78% 4.9% 7.17% 5.11% 6.95% 7.45% 8.28%
Dividend per Share 2 100 120 140 155 160 160.6 167.3 173.9
Rate of return 3.57% 4.2% 3.87% 3% 3.45% 3.7% 3.86% 4.01%
EPS 2 205.4 236.7 264.2 165.5 367.5 376.4 394.1 424.2
Distribution rate 48.7% 50.7% 53% 93.6% 43.5% 42.7% 42.4% 41%
Net sales 1 3,513,357 4,031,414 4,180,972 4,509,821 4,624,727 4,774,248 4,936,037 5,038,719
EBITDA 1 503,164 579,891 614,042 515,219 694,626 695,806 718,507 756,367
EBIT 1 281,918 353,399 375,366 279,754 455,390 459,245 477,659 510,425
Net income 1 214,718 243,961 264,513 160,025 332,053 330,363 332,516 351,567
Net Debt 1 -180,131 44,407 12,169 17,065 360,178 303,767 268,434 132,487
Reference price 2 2,801.00 2,855.50 3,620.00 5,161.00 4,633.00 4,338.00 4,338.00 4,338.00
Nbr of stocks (in thousands) 1,045,773 1,015,514 987,800 943,995 878,626 849,339 - -
Announcement Date 27/01/22 30/01/23 30/01/24 30/01/25 29/01/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.47x0.83x5.71x3.72% 23.87B
11.82x0.91x5.09x2.74% 7.09B
12.81x0.45x5.38x2.85% 5.66B
40.18x11.83x27.94x0.75% 4.3B
11.19x2.19x7.14x2.12% 2.35B
9.56x0.43x4.57x3.13% 1.85B
13.06x0.65x7.62x2.51% 1.52B
12.03x - - 2.14% 966M
11.18x - - 2.98% 567M
Average 14.81x 2.47x 9.06x 2.55% 5.35B
Weighted average by Cap. 14.21x 1.86x 7.71x 3.03%

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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