Company Valuation: SPK Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 12,623 12,974 13,406 17,383 20,777 20,957
Change - 2.78% 3.33% 29.66% 19.53% 0.87%
Enterprise Value (EV) 1 8,643 8,023 9,548 14,125 18,141 20,673
Change - -7.17% 19% 47.93% 28.43% 13.96%
P/E 8.13x 9.38x 8.25x 8.44x 8.69x 8.38x
PBR 0.71x 0.69x 0.66x 0.78x 0.85x 0.78x
PEG - -0.9x 0.5x 0.3x 0.5x 2.05x
Capitalization / Revenue 0.29x 0.31x 0.28x 0.32x 0.33x 0.3x
EV / Revenue 0.2x 0.19x 0.2x 0.26x 0.29x 0.3x
EV / EBITDA 3.98x 3.5x 4.06x 4.47x 4.87x 5.12x
EV / EBIT 4.44x 3.93x 4.69x 5.19x 5.77x 6.24x
EV / FCF 8.85x 4.82x -18.1x -34x -58.9x -15.8x
FCF Yield 11.3% 20.8% -5.52% -2.94% -1.7% -6.31%
Dividend per Share 2 18 18.5 20 22 25 30
Rate of return 2.86% 2.86% 3% 2.54% 2.42% 2.89%
EPS 2 77.33 68.86 80.91 102.5 119.1 124
Distribution rate 23.3% 26.9% 24.7% 21.5% 21% 24.2%
Net sales 1 43,860 41,902 47,686 54,695 63,302 68,720
EBITDA 1 2,171 2,295 2,350 3,158 3,726 4,040
EBIT 1 1,946 2,044 2,035 2,720 3,145 3,311
Net income 1 1,553 1,383 1,625 2,059 2,392 2,497
Net Debt 1 -3,980 -4,951 -3,858 -3,258 -2,636 -284
Reference price 2 628.50 646.00 667.50 865.50 1,034.50 1,038.50
Nbr of stocks (in thousands) 20,084 20,084 20,084 20,084 20,084 20,180
Announcement Date 23/06/20 22/06/21 22/06/22 22/06/23 26/06/24 25/06/25
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 156M
15.45x0.73x8.83x4% 14.6B
11.1x0.69x6.45x - 6.37B
9.74x0.37x4.98x4.29% 3.87B
12.02x0.59x8.22x0.18% 3.01B
32.07x3.81x19.36x2.23% 1.06B
12.9x - - - 927M
13.14x - - 2.71% 712M
13.92x1.08x6.81x2.46% 315M
Average 15.04x 1.21x 9.11x 2.64% 3.45B
Weighted average by Cap. 13.93x 0.78x 8.10x 3.42%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation SPK Corporation
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