Company Valuation: DIC Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 274,123 220,164 262,350 320,406 345,867 462,484 - -
Change - -19.68% 19.16% 22.13% 7.95% 33.72% - -
Enterprise Value (EV) 1 614,881 666,113 703,775 742,869 735,231 848,824 793,652 776,143
Change - 8.33% 5.65% 5.55% -1.03% 15.45% -6.5% -2.21%
P/E 62.8x 12.5x -6.58x 15x 10.7x 10.2x 12.5x 9.67x
PBR 0.79x 0.57x 0.72x 0.8x 0.73x 0.95x 0.87x 0.76x
PEG - 0x 0x -0x 0.2x 0.3x -0.7x 0.3x
Capitalization / Revenue 0.32x 0.21x 0.25x 0.3x 0.33x 0.4x 0.4x 0.39x
EV / Revenue 0.72x 0.63x 0.68x 0.69x 0.7x 0.74x 0.69x 0.66x
EV / EBITDA 7.59x 7.53x 9.91x 7.55x 6.86x 6.67x 6.37x 5.76x
EV / EBIT 14.3x 16.8x 39.2x 16.7x 14.1x 11.7x 11.6x 10.1x
EV / FCF -5.98x -16x 21.5x 787x 22.8x 30.1x 9.81x 15.6x
FCF Yield -16.7% -6.24% 4.65% 0.13% 4.38% 3.33% 10.2% 6.39%
Dividend per Share 2 100 100 80 100 200 166.7 173.3 175
Rate of return 3.45% 4.3% 2.89% 2.96% 5.47% 3.41% 3.55% 3.58%
EPS 2 46.12 186 -421.1 225.1 341.7 480.6 390 505.2
Distribution rate 217% 53.7% -19% 44.4% 58.5% 34.7% 44.4% 34.6%
Net sales 1 855,400 1,054,201 1,038,736 1,071,127 1,052,194 1,144,800 1,155,533 1,182,150
EBITDA 1 81,000 88,474 71,040 98,452 107,158 127,325 124,592 134,750
EBIT 1 42,900 39,682 17,943 44,521 52,192 72,467 68,467 76,900
Net income 1 4,400 17,610 -39,857 21,313 32,353 45,200 36,350 45,600
Net Debt 1 340,758 445,949 441,425 422,463 389,364 386,340 331,169 313,659
Reference price 2 2,896.00 2,326.00 2,771.50 3,384.00 3,653.00 4,883.00 4,883.00 4,883.00
Nbr of stocks (in thousands) 94,656 94,653 94,660 94,683 94,680 94,713 - -
Announcement Date 18/02/22 14/02/23 13/02/24 12/02/25 16/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.16x0.74x6.67x3.41% 2.93B
36.06x4.94x20.04x1.07% 76.73B
30.22x4.52x19.53x2.2% 37.4B
24.88x2.96x15.34x2.09% 35.56B
14.15x1.48x8.24x2.95% 31.26B
35.17x6.42x17.03x1.75% 29.2B
14.02x1.36x8.35x2.26% 25.12B
38.36x9.44x28.29x2.26% 23.49B
8.78x2.51x5x2.97% 18.43B
24.4x2.64x10.73x1.85% 17.55B
Average 23.62x 3.70x 13.92x 2.28% 29.77B
Weighted average by Cap. 27.29x 4.16x 15.93x 1.98%

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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