Company Valuation: Fujitsu Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,184,037 3,618,813 3,359,071 4,579,895 5,244,938 6,736,149 - -
Change - 13.65% -7.18% 36.34% 14.52% 28.43% - -
Enterprise Value (EV) 1 3,018,530 3,420,112 3,214,345 4,483,432 5,255,951 6,357,900 6,379,910 6,324,649
Change - 13.3% -6.02% 39.48% 17.23% 20.97% 0.35% -0.87%
P/E ratio 15.8x 19.9x 16.1x 18.4x 24.4x 15.4x 21.9x 18.9x
PBR 2.2x 2.27x 2.12x 2.61x 3.01x 3.44x 3.25x 3.01x
PEG - -2.25x 0.8x 0.8x -2.3x 0x -0.7x 1.2x
Capitalization / Revenue 0.89x 1.01x 0.9x 1.22x 1.48x 1.89x 1.83x 1.77x
EV / Revenue 0.84x 0.95x 0.87x 1.19x 1.48x 1.78x 1.74x 1.66x
EV / EBITDA 6.83x 8.43x 6.24x 13x 12.3x 12.2x 11.2x 10x
EV / EBIT 11.3x 15.6x 9.58x 28x 19.8x 17x 14.9x 13.2x
EV / FCF 12.8x 18.1x 18.1x 29.5x 24.5x 18.4x 22.6x 20.2x
FCF Yield 7.83% 5.53% 5.52% 3.39% 4.08% 5.42% 4.42% 4.95%
Dividend per Share 2 20 22 24 26 28 39.17 43.89 46.53
Rate of return 1.25% 1.19% 1.35% 1.04% 0.95% 1.01% 1.13% 1.2%
EPS 2 101.4 92.42 110.8 135.6 120.9 252.4 177 205.6
Distribution rate 19.7% 23.8% 21.7% 19.2% 23.2% 15.5% 24.8% 22.6%
Net sales 1 3,589,700 3,586,800 3,713,700 3,756,000 3,550,116 3,570,199 3,673,150 3,806,214
EBITDA 1 442,152 405,577 514,842 345,824 425,983 519,209 570,972 630,501
EBIT 1 266,300 219,200 335,600 160,200 265,089 374,194 428,147 479,534
Net income 1 202,700 182,600 215,100 254,400 219,807 442,304 303,555 346,407
Net Debt 1 -165,507 -198,701 -144,726 -96,463 11,013 -378,249 -356,239 -411,500
Reference price 2 1,600.00 1,841.50 1,783.50 2,490.00 2,951.00 3,883.00 3,883.00 3,883.00
Nbr of stocks (in thousands) 1,990,023 1,965,144 1,883,415 1,839,315 1,777,342 1,734,780 - -
Announcement Date 28/04/21 28/04/22 27/04/23 25/04/24 24/04/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.87x1.72x11.81x1.04% 42.25B
23.69x3.89x13.85x2.66% 240B
14.5x1.55x8.13x3.34% 119B
18.38x3.36x12.37x4.63% 101B
18.43x3.14x10.75x3.24% 81.68B
21.37x5.51x13.61x2.68% 66.85B
18.72x2.78x11.82x3.77% 56.8B
-53.63x8.25x53.68x-.--% 52.09B
22.5x2.77x13.31x3.97% 41.68B
23.17x1.56x11.14x0.75% 36.93B
Average 12.20x 3.45x 16.05x 2.61% 83.85B
Weighted average by Cap. 15.38x 3.48x 14.62x 2.86%

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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