Company Valuation: The Yokohama Rubber Company, Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 296,015 330,717 519,696 542,238 948,904 1,206,111 - -
Change - 11.72% 57.14% 4.34% 75% 27.11% - -
Enterprise Value (EV) 1 425,744 493,846 891,439 980,238 1,377,283 1,660,054 1,553,408 1,476,706
Change - 16% 80.51% 9.96% 40.5% 20.53% -6.42% -4.94%
P/E 4.51x 7.19x 7.71x 7.27x 9x 9.95x 9.09x 8.11x
PBR 0.56x 0.54x 0.7x 0.61x 0.92x 1.08x 0.98x 0.88x
PEG - -0.2x 0.2x 0.6x 0.2x 0.7x 0.96x 0.7x
Capitalization / Revenue 0.44x 0.38x 0.53x 0.5x 0.77x 0.91x 0.87x 0.84x
EV / Revenue 0.63x 0.57x 0.9x 0.9x 1.12x 1.25x 1.13x 1.03x
EV / EBITDA 3.3x 4.16x 5.58x 5.29x 6.08x 6.13x 5.51x 4.84x
EV / EBIT 5.09x 7.17x 8.88x 8.22x 9.01x 8.49x 7.56x 6.65x
EV / FCF 6.67x -69.3x -4.84x 10.5x - 22.8x 14.7x 11.6x
FCF Yield 15% -1.44% -20.7% 9.5% - 4.38% 6.79% 8.63%
Dividend per Share 2 65 66 84 50 134 220.7 252.1 298.6
Rate of return 3.53% 3.21% 2.6% 1.47% 2.23% 2.89% 3.3% 3.9%
EPS 2 408.5 286.4 419.3 467.8 668.6 768.8 841.4 942.7
Distribution rate 15.9% 23% 20% 10.7% 20% 28.7% 30% 31.7%
Net sales 1 670,809 860,477 985,333 1,094,700 1,234,959 1,324,206 1,380,333 1,440,084
EBITDA 1 129,196 118,765 159,845 185,314 226,523 270,732 281,913 305,201
EBIT 1 83,636 68,851 100,351 119,200 152,901 195,614 205,364 222,003
Net income 1 65,500 45,918 67,234 74,900 105,398 120,711 130,946 144,351
Net Debt 1 129,729 163,129 371,743 438,000 428,379 453,944 347,297 270,595
Reference price 2 1,843.00 2,058.00 3,233.00 3,400.00 6,017.00 7,648.00 7,648.00 7,648.00
Nbr of stocks (in thousands) 160,616 160,698 160,747 159,482 157,704 157,703 - -
Announcement Date 17/02/22 17/02/23 16/02/24 19/02/25 19/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.95x1.25x6.13x2.89% 7.36B
14.79x1.1x5.95x3.21% 31.42B
13.94x1.02x5.68x3.95% 26.48B
10.31x1.05x6.11x2.74% 6.45B
9.78x - - 3.11% 6.39B
15.64x - - 3.74% 4.07B
9.57x0.96x4.43x3.32% 4.01B
10.69x0.68x5.33x3.81% 3.72B
34.57x1.84x10.48x1.97% 2.39B
-18.11x0.41x4.87x-.--% 2.09B
Average 11.11x 1.04x 6.12x 2.87% 9.44B
Weighted average by Cap. 12.95x 1.06x 5.89x 3.3%

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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