Company Valuation: Nichias Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 167,623 176,510 267,404 296,880 545,808 615,333 - -
Change - 5.3% 51.5% 11.02% 83.85% 12.74% - -
Enterprise Value (EV) 1 137,557 141,585 233,795 248,243 497,835 544,733 540,933 537,033
Change - 2.93% 65.13% 6.18% 100.54% 9.42% -0.7% -0.72%
P/E 7.61x 8.25x 10x 9.39x 17.4x 17.2x 15.7x 15.1x
PBR 1.09x 1.02x 1.34x 1.38x 2.29x 2.36x 2.25x 2.08x
PEG - -2.86x 0.4x 0.5x 15.8x 1.2x 1.61x 3.54x
Capitalization / Revenue 0.78x 0.74x 1.07x 1.16x 2.17x 2.18x 2.06x 2.01x
EV / Revenue 0.64x 0.59x 0.94x 0.97x 1.98x 1.93x 1.81x 1.75x
EV / EBITDA 4.18x 3.78x 5.46x 5.24x 11.2x 9.27x 8.59x 8.27x
EV / EBIT 5.24x 4.73x 6.64x 6.25x 13.4x 11x 9.97x 9.51x
EV / FCF 7.04x 14.2x 29x 8.18x 38.6x 20.9x 19x 17.5x
FCF Yield 14.2% 7.06% 3.44% 12.2% 2.59% 4.78% 5.26% 5.72%
Dividend per Share 2 28.67 30.67 32.67 36 54.67 66 71.6 78.5
Rate of return 3.4% 3.46% 2.41% 2.34% 1.89% 2.02% 2.19% 2.4%
EPS 2 110.7 107.5 135.5 163.8 165.6 189.5 208 216.8
Distribution rate 25.9% 28.5% 24.1% 22% 33% 34.8% 34.4% 36.2%
Net sales 1 216,236 238,116 249,391 256,512 251,910 282,181 298,687 306,416
EBITDA 1 32,880 37,408 42,801 47,358 44,328 58,736 62,950 64,900
EBIT 1 26,264 29,954 35,208 39,732 37,014 49,536 54,248 56,474
Net income 1 22,034 21,398 26,961 32,073 31,634 35,495 38,809 40,493
Net Debt 1 -30,066 -34,925 -33,609 -48,637 -47,973 -70,600 -74,400 -78,300
Reference price 2 842.33 887.00 1,356.67 1,538.33 2,886.50 3,265.00 3,265.00 3,265.00
Nbr of stocks (in thousands) 198,999 198,996 197,103 192,988 189,090 188,463 - -
Announcement Date 09/05/22 08/05/23 07/05/24 12/05/25 11/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.97x2.02x9.72x1.94% 4.16B
12.44x0.6x6.14x1.82% 6.99B
6.48x0.12x2.26x3.1% 6.66B
13.86x0.5x6.74x4.92% 4.72B
12.69x0.49x5.26x3.06% 1.59B
19.71x0.47x16.5x1.28% 1.01B
10.32x - - - 718M
Average 13.35x 0.70x 7.77x 2.69% 3.69B
Weighted average by Cap. 12.30x 0.68x 6.18x 2.82%

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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