Company Valuation: Shimizu Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 543,681 555,678 718,101 903,082 1,875,752 1,418,854 - -
Change - 2.21% 29.23% 25.76% 107.71% -24.36% - -
Enterprise Value (EV) 1 751,685 746,167 982,032 1,200,270 2,087,170 1,639,507 1,606,741 1,562,850
Change - -0.73% 31.61% 22.22% 73.89% -21.45% -2% -2.73%
P/E 11.5x 11.3x 42.4x 14x 14.9x 8.32x 10.8x 10.1x
PBR 0.66x 0.65x 0.8x 1.05x 1.93x 1.36x 1.31x 1.25x
PEG - 3.29x -0.7x 0x 0.2x 0.2x -0.5x 1.46x
Capitalization / Revenue 0.37x 0.29x 0.36x 0.46x 0.91x 0.62x 0.61x 0.61x
EV / Revenue 0.51x 0.39x 0.49x 0.62x 1.01x 0.72x 0.7x 0.68x
EV / EBITDA 11.5x 9.28x 176x 11.5x 13.7x 8.76x 8.03x 7.31x
EV / EBIT 16.7x 13.7x -39.8x 16.9x 17.6x 10.5x 9.57x 8.54x
EV / FCF -65.2x 23.8x -36.9x 9.6x -36.6x 10.5x 13.5x 12.5x
FCF Yield -1.53% 4.21% -2.71% 10.4% -2.73% 9.49% 7.4% 7.99%
Dividend per Share 2 23 21 20 38 72 87.07 86.43 91.83
Rate of return 3.13% 2.8% 2% 2.87% 2.6% 4.17% 4.14% 4.39%
EPS 2 64.09 66.29 23.57 94.8 186.7 251.1 193.7 207.1
Distribution rate 35.9% 31.7% 84.9% 40.1% 38.6% 34.7% 44.6% 44.3%
Net sales 1 1,482,961 1,933,814 2,005,518 1,944,360 2,057,802 2,288,150 2,308,346 2,312,167
EBITDA 1 65,358 80,445 5,571 104,508 152,180 187,104 200,033 213,800
EBIT 1 45,145 54,647 -24,685 71,030 118,669 156,627 167,901 182,950
Net income 1 47,761 49,057 17,163 66,015 126,617 169,771 129,921 137,667
Net Debt 1 208,004 190,489 263,931 297,188 211,418 220,653 187,887 143,995
Reference price 2 735.00 750.00 1,000.50 1,323.50 2,772.50 2,089.50 2,089.50 2,089.50
Nbr of stocks (in thousands) 739,703 740,904 717,742 682,344 676,556 679,040 - -
Announcement Date 12/05/22 11/05/23 13/05/24 14/05/25 12/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.32x0.72x8.76x4.17% 9B
58.37x2.69x25.68x0.06% 102B
11.76x1.02x5.57x4.97% 66.61B
35.58x4.48x24.33x0.19% 60.72B
24.84x1.93x18.95x1.19% 52.74B
49.38x3.96x25.08x1.96% 38.53B
24.02x1.64x15.14x0.19% 34.7B
27.92x0.7x11.55x2.21% 34.5B
22.53x0.44x7.03x2.74% 29.63B
5.01x0.31x5.98x5.63% 26.75B
Average 26.77x 1.79x 14.81x 2.33% 45.49B
Weighted average by Cap. 32.46x 2.15x 17.14x 1.85%

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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