Company Valuation: NEC Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,403,157 1,358,384 2,928,366 4,191,365 5,109,408 6,698,028 - -
Change - -3.19% 115.58% 43.13% 21.9% 31.09% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 6,437,181 6,227,222 6,064,911
Change - -4.36% 101.05% 43.16% 15.6% 30.32% -3.26% -2.61%
P/E 9.93x 12x 19.6x 23.9x 19x 21.8x 19.2x 17.1x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.74x 2.49x 2.21x
PEG - -0.7x 0.6x 1.4x 0.3x 1.6x 1.4x 1.4x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.74x 1.65x 1.58x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.67x 1.54x 1.43x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 10.5x 9.17x 8.23x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 14.3x 12.1x 10.6x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 29.8x 19.7x 17.6x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 3.35% 5.08% 5.69%
Dividend per Share 2 20 22 24 28 38 43.01 48.55 54.38
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 0.85% 0.96% 1.08%
EPS 2 103.7 84.9 112.2 131.5 203 231.2 263.5 296
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 18.6% 18.4% 18.4%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,854,719 4,052,573 4,243,311
EBITDA 1 313,064 353,745 375,712 441,600 514,415 612,638 679,439 736,776
EBIT 1 132,525 170,447 188,012 256,500 359,913 450,584 513,777 571,392
Net income 1 141,277 114,500 149,521 175,183 270,228 306,364 353,248 395,989
Net Debt 1 149,044 126,187 56,425 81,744 -169,819 -260,847 -470,806 -633,117
Reference price 2 1,030.00 1,020.00 2,198.00 3,145.00 3,846.00 5,050.00 5,050.00 5,050.00
Nbr of stocks (in thousands) 1,362,288 1,331,749 1,332,286 1,332,707 1,328,499 1,326,342 - -
Announcement Date 28/04/22 28/04/23 26/04/24 28/04/25 28/04/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.73x3.58x12.49x3.06% 208B
21.53x4.56x11.18x0.77% 185B
-612.43x43.57x178.99x-.--% 126B
-132.17x18.36x100.93x-.--% 118B
14.37x1.56x8.21x3.34% 115B
13.66x2.46x9.34x6.02% 78.82B
19.79x5.26x12.93x2.83% 59.4B
-17.94x7.51x12.77x-.--% 50.59B
22.68x1.88x11.89x1.37% 44.47B
Average -72.09x 9.86x 39.86x 1.93% 109.67B
Weighted average by Cap. -81.60x 10.56x 43.44x 1.89%

Y-o-Y evolution of P/E

Valuation ratios - P/E - NEC Corporation

Historical PBR trend

Valuation ratios - PBR - NEC Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - NEC Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - NEC Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - NEC Corporation