Company Valuation: Obayashi Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 645,286 726,269 1,335,413 1,417,360 2,581,962 2,228,618 - -
Change - 12.55% 83.87% 6.14% 82.17% -13.69% - -
Enterprise Value (EV) 1 655,128 643,941 1,320,698 1,384,855 2,497,764 2,074,507 2,019,157 1,952,307
Change - -1.71% 105.1% 4.86% 80.36% -16.95% -2.67% -3.31%
P/E 16.5x 9.35x 17.8x 9.73x 15.1x 13.7x 13.3x 12.3x
PBR 0.68x 0.73x 1.16x 1.22x 2.05x 1.71x 1.61x 1.51x
PEG - 0.1x -5.28x 0.1x 0.7x -2.75x 4.75x 1.49x
Capitalization / Revenue 0.34x 0.37x 0.57x 0.54x 1x 0.77x 0.74x 0.72x
EV / Revenue 0.34x 0.32x 0.57x 0.53x 0.97x 0.72x 0.67x 0.63x
EV / EBITDA 10.6x 5.47x 12.4x 7.87x 10.8x 9.13x 7.89x 7.19x
EV / EBIT 16x 6.87x 16.6x 9.65x 12.8x 11x 9.5x 8.46x
EV / FCF 33x 5.08x -49.3x 18.2x 14.8x 12x 13.7x 12.2x
FCF Yield 3.03% 19.7% -2.03% 5.49% 6.75% 8.36% 7.3% 8.22%
Dividend per Share 2 32 42 75 81 88 94.88 103 109.6
Rate of return 3.56% 4.15% 4.03% 4.08% 2.34% 2.93% 3.18% 3.38%
EPS 2 54.55 108.3 104.7 203.9 249.4 237 243.6 263.7
Distribution rate 58.7% 38.8% 71.6% 39.7% 35.3% 40% 42.3% 41.6%
Net sales 1 1,922,884 1,983,888 2,325,162 2,620,101 2,586,258 2,900,216 3,013,920 3,108,171
EBITDA 1 61,742 117,741 106,498 175,899 231,031 227,168 255,903 271,650
EBIT 1 41,051 93,800 79,381 143,442 194,678 188,268 212,521 230,657
Net income 1 39,127 77,671 75,059 146,052 173,759 162,492 165,703 178,400
Net Debt 1 9,842 -82,328 -14,715 -32,505 -84,198 -154,111 -209,461 -276,311
Reference price 2 900.00 1,013.00 1,862.50 1,984.00 3,756.00 3,242.00 3,242.00 3,242.00
Nbr of stocks (in thousands) 716,985 716,948 717,000 714,395 687,423 687,421 - -
Announcement Date 12/05/22 11/05/23 13/05/24 13/05/25 13/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
68.43x2.95x28.86x0.07% 99.18B
13.24x1.07x5.86x4.44% 72.18B
41.14x5.04x27.97x0.16% 62.38B
25.5x1.95x18.93x1.22% 55.12B
55.51x4.63x29.58x1.64% 46.18B
33.9x0.8x13.46x1.88% 39.95B
28.62x0.55x8.84x2.11% 36.35B
26.53x1.72x16.57x0.18% 34.43B
4.81x0.3x6.31x5.9% 28.61B
Average 33.08x 2.11x 17.38x 1.95% 52.71B
Weighted average by Cap. 37.36x 2.37x 19.08x 1.7%

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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