Company Valuation: BASE,Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 68,655 26,601 28,103 37,629 36,716 43,071 - -
Change - -61.25% 5.65% 33.9% -2.43% 17.31% - -
Enterprise Value (EV) 44,602 4,191 5,876 12,626 10,745 43,071 43,071 43,071
Change - -90.6% 40.2% 114.86% -14.9% 300.86% 0% 0%
P/E -57x -15.3x -46x 111x 20.1x 21.7x 17.1x 13.7x
PBR 4.55x 1.99x 2.16x 2.81x 2.51x 2.79x 2.63x 2.41x
PEG - -0.4x 0.7x -1x 0x 2.59x 0.6x 0.6x
Capitalization / Revenue 6.91x 2.73x 2.41x 2.35x 1.77x 1.56x 1.39x 1.23x
EV / Revenue 0x 0x 0x 0x 0x 1.56x 1.39x 1.23x
EV / EBITDA -0x -0x -0x 0x - 17.4x 13.9x 11x
EV / EBIT -0x -0x -0x 0x 0x 17.7x 14.1x 11.2x
EV / FCF 0x -0x -0x 0x 0x 5.92x 8.61x 7.05x
FCF Yield 2.57% -6.51% -0.48% 9.65% 8.86% 16.9% 11.6% 14.2%
Dividend per Share 2 - - - - 5 5 5 5
Rate of return - - - - 1.57% 1.34% 1.34% 1.34%
EPS 2 -10.8 -15.46 -5.31 2.94 15.87 17.2 21.9 27.3
Distribution rate - - - - 31.5% 29.1% 22.8% 18.3%
Net sales 1 9,931 9,739 11,680 15,981 20,729 27,600 31,000 34,900
EBITDA 1 -932 -1,459 -423 803 - 2,480 3,100 3,910
EBIT 1 -977 -1,508 -425 772 1,686 2,430 3,050 3,860
Net income 1 -1,194 -1,732 -606 340 1,826 1,930 2,450 3,060
Net Debt -24,053 -22,410 -22,227 -25,003 -25,971 - - -
Reference price 2 616.00 236.00 244.00 325.00 319.00 374.00 374.00 374.00
Nbr of stocks (in thousands) 111,453 112,718 115,178 115,782 115,096 115,163 - -
Announcement Date 9/2/22 8/2/23 8/2/24 14/2/25 12/2/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.74x - - 1.34% 270M
15.69x4.19x9.66x1.3% 520B
22.61x6.69x20.09x-.--% 337B
22.98x2.7x13.77x-.--% 155B
38.33x4.5x29.74x-.--% 112B
34.62x6.83x19.21x-.--% 108B
88.72x5.36x25.53x-.--% 100B
2.79x73.83x2.06x0.15% 99.8B
10.6x8.03x93.67x0.63% 94.08B
8.46x2.72x59.09x0.74% 36.87B
Average 26.65x 12.76x 30.31x 0.42% 156.32B
Weighted average by Cap. 24.22x 9.50x 21.17x 0.5%

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