Company Valuation: Unicharm Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,977,963 3,006,792 3,009,033 2,291,263 1,557,242 1,677,845 - -
Change - 0.97% 0.07% -23.85% -32.04% 7.74% - -
Enterprise Value (EV) 1 2,708,978 2,726,211 2,677,383 2,057,060 1,315,205 1,441,731 1,438,547 1,417,378
Change - 0.64% -1.79% -23.17% -36.06% 9.62% -0.22% -1.47%
P/E 41x 44.6x 35.1x 28.1x 24x 21.1x 19.2x 17.5x
PBR 5.35x 4.86x 4.32x 2.96x 1.96x 2.04x 1.94x 1.84x
PEG - -6.65x 1.3x -6.6x -1.2x 0.9x 1.99x 1.7x
Capitalization / Revenue 3.8x 3.35x 3.2x 2.32x 1.65x 1.68x 1.59x 1.52x
EV / Revenue 3.46x 3.04x 2.84x 2.08x 1.39x 1.44x 1.37x 1.29x
EV / EBITDA 16.9x 16.9x 15.6x 11.1x 8.39x 8.46x 7.88x 7.3x
EV / EBIT 22.1x 22.8x 20.9x 14.9x 12.1x 11.5x 10.5x 9.51x
EV / FCF 39.4x 32x 23.1x 22.3x 13.4x 17.6x 16.1x 14.9x
FCF Yield 2.54% 3.12% 4.33% 4.48% 7.46% 5.68% 6.21% 6.72%
Dividend per Share 2 12 12.67 13.33 14.67 18 22 23.92 26
Rate of return 0.72% 0.75% 0.78% 1.13% 2.01% 2.26% 2.45% 2.67%
EPS 2 40.59 37.87 48.47 46.41 37.3 46.29 50.76 55.87
Distribution rate 29.6% 33.4% 27.5% 31.6% 48.3% 47.5% 47.1% 46.5%
Net sales 1 782,723 898,022 941,790 988,981 945,268 1,000,910 1,053,310 1,102,154
EBITDA 1 160,408 161,052 171,227 185,001 156,692 170,452 182,514 194,117
EBIT 1 122,482 119,566 127,974 138,463 108,884 125,182 136,523 149,008
Net income 1 72,745 67,608 86,053 81,842 65,212 80,007 87,400 95,541
Net Debt 1 -268,985 -280,581 -331,650 -234,203 -242,037 -236,114 -239,297 -260,467
Reference price 2 1,666.33 1,689.33 1,699.33 1,302.50 895.00 975.20 975.20 975.20
Nbr of stocks (in thousands) 1,787,135 1,779,869 1,770,714 1,759,127 1,739,935 1,720,514 - -
Announcement Date 15/02/22 08/02/23 07/02/24 13/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.07x1.44x8.46x2.26% 10.33B
15.12x2.57x11.97x4.79% 35.97B
9.8x1.01x5.63x6.64% 3.55B
15.27x2.52x9.5x2.89% 2.18B
22.9x0.77x8.32x1.62% 1.34B
14.26x - - 5.44% 844M
18.23x - - 2.18% 754M
22.34x - - 3.54% 711M
Average 17.37x 1.66x 8.78x 3.67% 6.96B
Weighted average by Cap. 16.20x 2.20x 10.67x 4.25%

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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