Company Valuation: Tokyu Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 958,592 1,062,448 1,104,456 977,945 1,062,583 985,103 - -
Change - 10.83% 3.95% -11.45% 8.65% -7.29% - -
Enterprise Value (EV) 1 2,102,073 2,280,625 2,316,631 2,207,536 2,363,783 2,329,736 2,351,849 2,346,689
Change - 8.49% 1.58% -4.71% 7.08% -1.44% 0.95% -0.22%
P/E 109x 41x 17.4x 12.5x 12.2x 10.9x 10.5x 10.2x
PBR 1.36x 1.46x 1.4x 1.17x 1.16x 1.04x 0.97x 0.9x
PEG - 0x 0x 0.5x 0.9x 1.96x 3.22x 2.83x
Capitalization / Revenue 1.09x 1.14x 1.06x 0.93x 0.98x 0.87x 0.85x 0.84x
EV / Revenue 2.39x 2.45x 2.23x 2.09x 2.18x 2.05x 2.03x 1.99x
EV / EBITDA 18.2x 17.9x 12.8x 11.6x 12.3x 11.5x 11.1x 10.8x
EV / EBIT 66.6x 51.1x 24.4x 21.3x 22.9x 21.2x 20.4x 19.8x
EV / FCF 311x -38.6x 52.3x 76.8x -45.2x -158x 114x 110x
FCF Yield 0.32% -2.59% 1.91% 1.3% -2.21% -0.63% 0.88% 0.91%
Dividend per Share 2 15 15 17.5 24 30 32.38 34.43 38.86
Rate of return 0.94% 0.85% 0.95% 1.42% 1.61% 1.85% 1.97% 2.22%
EPS 2 14.58 42.94 105.8 134.8 152.2 160.7 166 171.9
Distribution rate 103% 34.9% 16.5% 17.8% 19.7% 20.1% 20.7% 22.6%
Net sales 1 879,112 931,293 1,037,819 1,054,900 1,086,179 1,136,794 1,156,522 1,179,171
EBITDA 1 115,735 127,576 181,600 190,000 191,700 203,003 211,081 218,234
EBIT 1 31,544 44,603 94,905 103,400 103,193 110,054 115,132 118,300
Net income 1 8,782 25,995 63,763 79,600 87,071 91,125 92,768 94,543
Net Debt 1 1,143,481 1,218,177 1,212,175 1,229,591 1,301,200 1,344,634 1,366,747 1,361,586
Reference price 2 1,592.00 1,762.00 1,844.00 1,685.00 1,861.50 1,746.50 1,746.50 1,746.50
Nbr of stocks (in thousands) 602,131 602,978 598,946 580,383 570,821 564,044 - -
Announcement Date 13/05/22 11/05/23 13/05/24 14/05/25 12/05/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.87x2.05x11.48x1.85% 6.02B
7.61x3.89x8.11x0.83% 22.59B
13.29x1.59x8.13x3.27% 8.27B
13.59x2.01x12.87x2.17% 6.7B
27.66x7.17x20.88x1.86% 4.11B
13.77x0.93x10.69x1.9% 4.04B
13.69x2.86x14.38x1.88% 3.67B
14.92x2.9x12.87x3.46% 3.65B
10.26x1.98x10.48x2.49% 3.6B
10.7x1.79x10.19x2.83% 2.77B
Average 13.64x 2.72x 12.01x 2.25% 6.54B
Weighted average by Cap. 11.90x 2.95x 10.71x 1.88%

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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