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 6,286,862 - -
Change - -3.19% 115.58% 43.13% 21.9% 23.04% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 5,800,020 5,597,773 5,465,901
Change - -4.36% 101.05% 43.16% 15.6% 17.42% -3.49% -2.36%
P/E 9.93x 12x 19.6x 23.9x 19x 21.1x 18.8x 16.9x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.57x 2.34x 2.09x
PEG - -0.7x 0.6x 1.4x 0.3x 2x 1.5x 1.5x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.69x 1.62x 1.56x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.56x 1.44x 1.35x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 9.88x 8.56x 7.82x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 13.6x 11.5x 10.3x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 16.7x 16.9x 14.8x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 5.99% 5.93% 6.77%
Dividend per Share 2 20 22 24 28 38 42.66 47.78 52.58
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 0.9% 1.01% 1.11%
EPS 2 103.7 84.9 112.2 131.5 203 224.1 252.6 280.5
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 19% 18.9% 18.7%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,711,472 3,887,073 4,037,472
EBITDA 1 313,064 353,745 375,712 441,600 514,415 587,101 654,261 699,178
EBIT 1 132,525 170,447 188,012 256,500 359,913 427,087 486,451 533,098
Net income 1 141,277 114,500 149,521 175,183 270,228 299,071 336,084 372,275
Net Debt 1 149,044 126,187 56,425 81,744 -169,819 -486,842 -689,089 -820,961
Reference price 2 1,030.00 1,020.00 2,198.00 3,145.00 3,846.00 4,740.00 4,740.00 4,740.00
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
22.19x3.61x12.6x3.02% 211B
-102.72x16.28x94.23x-.--% 102B
12.28x1.36x7.12x3.91% 102B
15.34x2.8x10.59x5.36% 89.66B
20.46x5.35x13.13x2.8% 61.3B
14.8x2.16x9.15x5.28% 47.94B
20.64x1.69x10.75x1.42% 39.83B
18.35x2.36x11.29x4.71% 38.18B
21.11x2.45x16.01x2.84% 28.79B
Average 4.72x 4.23x 20.54x 3.26% 79.95B
Weighted average by Cap. 1.32x 4.81x 22.89x 3.14%

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