Company Valuation: Ebara Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 589,791 434,508 770,714 1,136,543 1,682,052 1,971,878 - -
Change - -26.33% 77.38% 47.47% 48% 17.23% - -
Enterprise Value (EV) 1 558,541 434,508 764,799 1,115,944 1,763,302 2,076,892 2,079,104 2,049,820
Change - -22.21% 76.02% 45.91% 58.01% 17.78% 0.11% -1.41%
P/E 13.8x 8.6x 12.8x 15.9x 22.2x 20.1x 16.7x 13.7x
PBR 1.88x 1.21x 1.88x 2.4x 3.31x 3.47x 3.08x 2.7x
PEG - 0.5x 0.7x 0.9x 2.94x 0.7x 0.8x 0.6x
Capitalization / Revenue 0.98x 0.64x 1.01x 1.31x 1.76x 1.84x 1.65x 1.49x
EV / Revenue 0.93x 0.64x 1.01x 1.29x 1.84x 1.94x 1.74x 1.55x
EV / EBITDA 6.75x 4.59x 6.79x 8.72x 11.9x 12x 9.4x 7.91x
EV / EBIT 9.1x 6.16x 8.89x 11.4x 15.5x 15.6x 12.2x 9.98x
EV / FCF 13.5x -346x 26.1x 21.3x -34.9x 44.4x 56.2x 45.9x
FCF Yield 7.43% -0.29% 3.83% 4.69% -2.86% 2.25% 1.78% 2.18%
Dividend per Share 2 32.6 38.6 45.8 55 59 74.55 90.91 109.5
Rate of return 2.55% 4.09% 2.74% 2.24% 1.6% 1.72% 2.1% 2.53%
EPS 2 92.69 109.7 130.7 154.6 166.3 214.6 258.9 314.6
Distribution rate 35.2% 35.2% 35% 35.6% 35.5% 34.7% 35.1% 34.8%
Net sales 1 603,213 680,870 759,328 866,668 958,285 1,070,072 1,194,257 1,321,037
EBITDA 1 82,807 94,640 112,615 127,964 148,606 173,767 221,227 259,129
EBIT 1 61,372 70,572 86,025 97,953 113,802 133,045 170,167 205,357
Net income 1 43,616 50,488 60,283 71,401 76,633 97,503 117,856 142,499
Net Debt 1 -31,250 - -5,915 -20,599 81,250 105,014 107,226 77,942
Reference price 2 1,278.00 944.00 1,669.60 2,460.50 3,684.00 4,323.00 4,323.00 4,323.00
Nbr of stocks (in thousands) 461,495 460,283 461,616 461,916 456,583 456,136 - -
Announcement Date 14/02/22 14/02/23 14/02/24 14/02/25 13/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.15x1.94x11.95x1.72% 12.52B
30.63x5.37x19.48x0.85% 121B
26.49x4.86x17.01x2.27% 34.68B
20.69x1.77x12.74x2.27% 30.09B
28.54x3.83x14.46x0.12% 28.06B
19x3.23x10.33x1.6% 26.48B
102.7x36.17x79.25x0.41% 25.03B
20.55x2.98x12.87x1.14% 25.06B
23.41x2.86x12.32x1.61% 25.04B
26.05x3.26x15.95x1.74% 23.38B
Average 31.82x 6.63x 20.64x 1.37% 35.12B
Weighted average by Cap. 31.55x 6.31x 20.34x 1.24%

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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-40%: Exceptional extension
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