Company Valuation: Sysmex Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,866,735 1,808,504 1,659,187 1,769,142 852,822 1,011,585 - -
Change - -3.12% -8.26% 6.63% -51.79% 18.62% - -
Enterprise Value (EV) 1 1,813,764 1,761,635 1,637,709 1,744,307 839,186 1,030,030 1,027,657 1,014,510
Change - -2.87% -7.03% 6.51% -51.89% 22.74% -0.23% -1.28%
P/E 42.3x 39.5x 33.6x 33x 24.1x 25.3x 20.7x 17.9x
PBR 5.36x 4.67x 3.84x 3.81x 1.68x 2x 1.9x 1.79x
PEG - 10.48x 3.87x 3.85x -0.7x 1.6x 0.9x 1.2x
Capitalization / Revenue 5.13x 4.41x 3.6x 3.48x 1.71x 1.89x 1.79x 1.69x
EV / Revenue 4.99x 4.29x 3.55x 3.43x 1.68x 1.92x 1.82x 1.7x
EV / EBITDA 19.1x 16.7x 14.3x 13.8x 8.54x 9.46x 8.38x 7.47x
EV / EBIT 26.9x 23.9x 20.9x 19.9x 16.2x 16.4x 13.6x 11.8x
EV / FCF 76.6x 103x 183x 48.8x 36.7x 28.6x 26.2x 22.2x
FCF Yield 1.31% 0.97% 0.55% 2.05% 2.73% 3.5% 3.81% 4.51%
Dividend per Share 2 25.33 27.33 28 32 38 38.67 40.3 43.03
Rate of return 0.85% 0.95% 1.05% 1.13% 2.78% 2.32% 2.41% 2.58%
EPS 2 70.29 72.94 79.27 86.07 56.89 66.13 80.86 93.33
Distribution rate 36% 37.5% 35.3% 37.2% 66.8% 58.5% 49.8% 46.1%
Net sales 1 363,780 410,502 461,510 508,643 500,006 535,473 565,508 597,779
EBITDA 1 94,847 105,486 114,270 126,616 98,268 108,857 122,609 135,875
EBIT 1 67,416 73,679 78,382 87,583 51,831 62,913 75,615 86,082
Net income 1 44,093 45,784 49,639 53,669 35,457 41,201 49,446 56,927
Net Debt 1 -52,971 -46,869 -21,478 -24,835 -13,636 18,445 16,072 2,925
Reference price 2 2,974.33 2,881.00 2,661.50 2,837.00 1,368.50 1,670.00 1,670.00 1,670.00
Nbr of stocks (in thousands) 627,615 627,735 623,403 623,596 623,180 605,739 - -
Announcement Date 12/05/22 11/05/23 09/05/24 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.($)
25.25x1.92x9.46x2.32% 6.34B
30.24x4.11x15.98x2.44% 183B
19.42x3.39x11.94x3.47% 110B
17.37x0.19x12.26x0.76% 60.75B
30.04x7.29x19x1.33% 50.01B
36.03x3.22x10.97x2.37% 45.59B
37.5x1.37x12.06x0.21% 33.08B
30.28x5.41x17.22x-.--% 28.76B
39.6x6.94x24.84x0.27% 23.9B
24.62x3.73x13.08x1.13% 22.53B
Average 29.03x 3.76x 14.68x 1.43% 56.34B
Weighted average by Cap. 27.74x 3.74x 14.67x 1.95%

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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