Company Valuation: Kubota Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,042,694 2,160,720 2,493,899 2,114,387 2,520,306 3,099,269 - -
Change - -28.99% 15.42% -15.22% 19.2% 22.97% - -
Enterprise Value (EV) 1 3,878,564 3,546,026 4,261,988 4,097,334 4,485,426 4,926,359 4,822,664 4,662,658
Change - -8.57% 20.19% -3.86% 9.47% 9.83% -2.1% -3.32%
P/E 17.5x 13.9x 10.5x 9.31x 13.6x 11.1x 11.9x 10.8x
PBR 1.83x 1.15x 1.15x 0.85x 0.96x 1.09x 1.03x 0.96x
PEG - -1.4x 0.2x -4.55x -0.8x 0.2x -1.65x 1x
Capitalization / Revenue 1.39x 0.81x 0.83x 0.7x 0.83x 0.94x 0.9x 0.87x
EV / Revenue 1.77x 1.32x 1.41x 1.36x 1.49x 1.5x 1.4x 1.31x
EV / EBITDA 12.2x 11.7x 9.77x 9.4x 11.3x 9.04x 9.3x 8.38x
EV / EBIT 15.8x 16.2x 13x 13x 16.9x 12.2x 13x 11.6x
EV / FCF -111x -10.9x 27.3x 125x 44.8x 25.3x 26.7x 24.2x
FCF Yield -0.9% -9.2% 3.66% 0.8% 2.23% 3.95% 3.74% 4.14%
Dividend per Share 2 42 44 48 50 50 54.31 62.45 66.43
Rate of return 1.64% 2.42% 2.26% 2.72% 2.26% 1.97% 2.27% 2.41%
EPS 2 145.5 130.8 201.7 197.6 163.4 248.9 231 254.7
Distribution rate 28.9% 33.6% 23.8% 25.3% 30.6% 21.8% 27% 26.1%
Net sales 1 2,196,766 2,678,772 3,020,711 3,016,281 3,018,891 3,292,947 3,436,630 3,563,214
EBITDA 1 317,908 304,155 436,099 436,097 395,946 545,189 518,837 556,110
EBIT 1 246,207 218,942 328,829 315,636 265,470 404,918 371,586 401,581
Net income 1 175,637 156,182 238,455 230,437 186,687 283,475 261,867 286,968
Net Debt 1 835,870 1,385,306 1,768,089 1,982,947 1,965,120 1,827,090 1,723,394 1,563,389
Reference price 2 2,553.50 1,817.00 2,122.50 1,839.00 2,216.50 2,751.50 2,751.50 2,751.50
Nbr of stocks (in thousands) 1,191,578 1,189,169 1,174,982 1,149,748 1,137,065 1,126,393 - -
Announcement Date 14/02/22 14/02/23 14/02/24 13/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.05x1.5x9.04x1.97% 19.69B
18.66x1.73x14.17x2.92% 58.77B
16.98x1.7x9.69x2.63% 42.23B
11.53x1.08x10.76x4.49% 37.16B
31.38x4.55x18.19x1.6% 29.56B
23.53x2.19x11.9x2.02% 19.23B
9.82x - - 0.71% 16.29B
30.92x1.01x18.06x1.18% 16.41B
23.94x2.66x14.32x2.51% 15.91B
22.48x1.75x14.17x2.3% 9.5B
Average 20.03x 2.02x 13.37x 2.23% 26.47B
Weighted average by Cap. 19.27x 1.99x 13.06x 2.52%

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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