Company Valuation: Tosei Corporation

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 45,990 66,066 87,052 118,197 160,582 177,721 - -
Change - 43.65% 31.77% 35.78% 35.86% 10.67% - -
Enterprise Value (EV) 131,754 162,756 198,645 253,982 309,111 177,721 177,721 177,721
Change - 23.53% 22.05% 27.86% 21.71% -42.51% 0% 0%
P/E 6.76x 7.72x 8.2x 9.86x 10.9x 10.8x 10.2x 9.32x
PBR 0.7x 0.92x 1.06x 1.31x 1.56x 1.56x 1.42x 1.28x
PEG - 0.3x 0.4x 0.8x 0.5x 1x 1.8x 0.94x
Capitalization / Revenue 0.75x 0.93x 1.1x 1.44x 1.7x 1.48x 1.36x 1.28x
EV / Revenue 0x 0x 0x 0x 0x 1.48x 1.36x 1.28x
EV / EBITDA 0x 0x 0x 0x 0x 6.51x 6.19x 5.37x
EV / EBIT 0x 0x 0x 0x 0x 6.87x 6.43x 5.83x
EV / FCF -0x -0x -0x -0x -0x -8.19x -58.8x 22.3x
FCF Yield -31.5% -14% -11.9% -15.8% -1.18% -12.2% -1.7% 4.49%
Dividend per Share 2 19 25.5 33 39.5 50 58 61 66.67
Rate of return 3.95% 3.64% 3.66% 3.24% 3.02% 3.17% 3.34% 3.64%
EPS 2 71.28 90.83 109.9 123.7 152.2 169 178.6 196.3
Distribution rate 26.7% 28.1% 30% 31.9% 32.9% 34.3% 34.1% 34%
Net sales 1 61,726 70,953 79,446 82,192 94,689 119,701 130,338 139,183
EBITDA 1 12,458 15,103 17,848 20,085 24,013 27,300 28,725 33,100
EBIT 1 10,966 13,514 16,254 18,489 22,337 25,856 27,638 30,467
Net income 1 6,721 8,607 10,507 11,985 14,796 16,380 17,300 19,000
Net Debt 85,764 96,690 111,593 135,785 148,529 - - -
Reference price 2 481.50 701.00 900.50 1,219.50 1,656.00 1,829.00 1,829.00 1,829.00
Nbr of stocks (in thousands) 95,515 94,245 96,671 96,922 96,970 97,168 - -
Announcement Date 12/01/22 12/01/23 12/01/24 10/01/25 14/01/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.82x - - 3.17% 1.12B
16.63x5.21x14.02x3.04% 47.38B
9.3x1.56x8.16x3.82% 32.18B
18.25x4.03x16.32x1.35% 27.9B
5.48x0.66x1.38x9.12% 26.37B
13.89x3.09x14.78x2.52% 25.36B
11.15x2.12x9.92x3.98% 21.12B
7.95x0.88x3.21x2.81% 20.33B
10.79x1.69x14.65x3.5% 19.68B
13.38x6.55x17.49x1.59% 19.4B
Average 11.77x 2.87x 11.10x 3.49% 24.08B
Weighted average by Cap. 12.35x 3.04x 11.24x 3.55%

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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