Company Valuation: NTN Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 113,605 178,912 166,566 128,439 189,826 221,993 - -
Change - 57.49% -6.9% -22.89% 47.8% 16.95% - -
Enterprise Value (EV) 1 378,992 438,546 398,593 350,914 376,368 411,860 394,986 376,817
Change - 15.71% -9.11% -11.96% 7.25% 9.43% -4.1% -4.6%
P/E 15.5x 17.3x 15.8x -5.4x 13.6x 15.2x 10.7x 8.49x
PBR 0.57x 0.81x 0.63x 0.55x 0.64x 0.79x 0.76x 0.69x
PEG - 0.4x 8.12x 0x -0x 1.82x 0.3x 0.3x
Capitalization / Revenue 0.18x 0.23x 0.2x 0.16x 0.23x 0.26x 0.25x 0.25x
EV / Revenue 0.59x 0.57x 0.48x 0.43x 0.46x 0.48x 0.45x 0.42x
EV / EBITDA 8.46x 7.41x 5.7x 5.37x 5.26x 5.41x 4.83x 4.13x
EV / EBIT 55.1x 25.6x 14.2x 15.3x 12.1x 11.1x 8.97x 7.3x
EV / FCF 33x 21.5x 9.93x 17.8x 17.4x 31.7x 14.7x 11.4x
FCF Yield 3.03% 4.64% 10.1% 5.6% 5.75% 3.16% 6.82% 8.76%
Dividend per Share 2 - 5 10 11 11 13 16 19
Rate of return - 1.48% 3.19% 4.53% 3.45% 3.38% 4.16% 4.94%
EPS 2 13.83 19.53 19.91 -44.9 23.4 25.35 36.07 45.35
Distribution rate - 25.6% 50.2% -24.5% 47% 51.3% 44.4% 41.9%
Net sales 1 642,023 773,960 836,285 825,587 826,344 858,100 875,200 898,900
EBITDA 1 44,778 59,193 69,951 65,338 71,527 76,133 81,700 91,150
EBIT 1 6,880 17,145 28,149 22,959 31,034 37,133 44,033 51,650
Net income 1 7,341 10,367 10,568 -23,801 12,871 15,067 21,433 26,950
Net Debt 1 265,387 259,634 232,027 222,475 186,542 189,867 172,994 154,824
Reference price 2 214.00 337.00 313.70 242.60 319.30 384.80 384.80 384.80
Nbr of stocks (in thousands) 530,865 530,896 530,972 529,426 594,507 594,517 - -
Announcement Date 13/05/22 12/05/23 14/05/24 14/05/25 14/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.18x0.49x5.5x3.38% 1.43B
30.47x5.24x19.09x0.83% 120B
27.1x4.99x17.46x2.22% 34.91B
29.46x3.94x14.88x0.11% 28.96B
20.96x3.52x11.15x1.53% 27.43B
93.33x35.22x76.81x0.41% 24.29B
20.98x3.05x13.13x1.12% 25.58B
23.29x2.85x12.28x1.62% 24.96B
26.25x3.3x16.12x1.72% 24.29B
Average 31.89x 6.95x 20.71x 1.44% 34.65B
Weighted average by Cap. 32.31x 6.73x 20.99x 1.12%

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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  3. 6472 Stock
  4. Valuation NTN Corporation