Company Valuation: Calbee, Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 377,134 305,175 346,148 428,366 349,012 338,622 - -
Change - -19.08% 13.43% 23.75% -18.52% -2.98% - -
Enterprise Value (EV) 1 299,336 248,153 315,830 411,106 328,811 350,615 330,272 332,804
Change - -17.1% 27.27% 30.17% -20.02% 6.63% 2.14% 0.77%
P/E 21.3x 17.3x 24.1x 21.5x 16.7x 22x 18.9x 17x
PBR 2.15x 1.73x 1.99x 2.23x 1.7x 1.78x 1.54x 1.51x
PEG - 5.79x -1.6x 0.6x 3.37x -1.4x 4.04x 1.5x
Capitalization / Revenue 1.41x 1.24x 1.24x 1.41x 1.08x 1.1x 0.92x 0.9x
EV / Revenue 1.12x 1.01x 1.13x 1.36x 1.02x 1.03x 0.9x 0.88x
EV / EBITDA 7.9x 6.87x 9.22x 10.3x 7.58x 8.1x 7.53x 6.97x
EV / EBIT 11.1x 9.87x 14.2x 15.1x 11.3x 13.4x 12.3x 11.2x
EV / FCF 15.2x 25.2x -42.6x -37.5x 31.3x 37.4x 45.9x 31.9x
FCF Yield 6.59% 3.96% -2.34% -2.67% 3.19% 2.68% 2.18% 3.13%
Dividend per Share 2 50 52 52 56 58 66 69 72.15
Rate of return 1.77% 2.21% 1.88% 1.63% 2.08% 2.14% 2.48% 2.59%
EPS 2 132.3 136.2 115.2 159.2 167.1 140 147.5 164
Distribution rate 37.8% 38.2% 45.2% 35.2% 34.7% 47.1% 46.8% 44%
Net sales 1 266,745 245,419 279,315 303,027 322,564 340,151 368,500 376,500
EBITDA 1 37,868 36,143 34,259 39,979 43,362 43,266 43,833 47,721
EBIT 1 27,064 25,135 22,233 27,304 29,066 26,173 26,780 29,750
Net income 1 17,682 18,053 14,772 19,886 20,874 17,329 17,880 19,817
Net Debt 1 -77,798 -57,022 -30,318 -17,260 -20,201 -23,511 -8,350 -5,819
Reference price 2 2,822.00 2,355.00 2,771.00 3,429.00 2,793.50 2,785.00 2,785.00 2,785.00
Nbr of stocks (in thousands) 133,641 129,586 124,918 124,925 124,937 121,588 - -
Announcement Date 13/5/21 10/5/22 9/5/23 9/5/24 12/5/25 14/5/26 - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.81x2.88x14.14x3.94% 258B
21.34x2.5x14.74x3.32% 79.78B
17.49x1.78x10.05x3.53% 49.18B
17.16x0.53x10.09x2.66% 37.6B
22.74x3.36x13.66x3.16% 37.02B
38.41x3.33x18.56x0.93% 30.69B
11.37x1.87x9.2x6.74% 28.22B
68x10.14x43.11x1.12% 28.38B
13.72x0.4x9.06x2.39% 23.17B
Average 25.56x 2.98x 15.85x 3.09% 63.55B
Weighted average by Cap. 22.56x 2.84x 14.80x 3.46%

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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