Company Valuation: Keyence Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 13,290,446 14,612,193 17,289,660 14,777,076 14,328,389 19,549,947 - -
Change - 9.95% 18.32% -14.53% -3.04% 36.44% - -
Enterprise Value (EV) 1 12,285,874 13,671,735 16,156,884 13,557,842 12,834,500 17,766,657 17,498,750 17,159,364
Change - 11.28% 18.18% -16.09% -5.34% 38.43% -1.51% -1.94%
P/E 43.8x 40.3x 46.8x 37.1x 32.2x 35.8x 32.1x 29.2x
PBR 6.11x 5.86x 6.16x 4.75x 4.13x 5.11x 4.61x 4.16x
PEG - 2.1x 25.43x 4.73x 2.8x 1.5x 2.8x 2.94x
Capitalization / Revenue 17.6x 15.8x 17.9x 14x 12.3x 13.8x 12.3x 11.3x
EV / Revenue 16.3x 14.8x 16.7x 12.8x 11x 12.5x 11x 9.91x
EV / EBITDA 28.8x 26.8x 31.8x 24x 20.9x 22.9x 20.2x 18.1x
EV / EBIT 29.4x 27.4x 32.6x 24.7x 21.5x 23.6x 20.8x 18.6x
EV / FCF 47.2x 95x 111x 34.3x 108x 46.9x 35.9x 29.9x
FCF Yield 2.12% 1.05% 0.9% 2.91% 0.92% 2.13% 2.78% 3.35%
Dividend per Share 2 200 300 300 350 550 626 724.7 813.8
Rate of return 0.36% 0.5% 0.42% 0.57% 0.93% 0.77% 0.89% 1%
EPS 2 1,251 1,497 1,524 1,644 1,836 2,264 2,526 2,777
Distribution rate 16% 20% 19.7% 21.3% 30% 27.6% 28.7% 29.3%
Net sales 1 755,174 922,422 967,288 1,059,145 1,169,289 1,420,822 1,585,336 1,732,062
EBITDA 1 426,666 510,437 508,781 564,968 612,986 775,387 865,770 949,455
EBIT 1 418,045 498,914 495,014 549,775 595,759 751,903 840,640 920,973
Net income 1 303,360 362,963 369,642 398,656 445,185 548,538 611,173 670,157
Net Debt 1 -1,004,572 -940,458 -1,132,776 -1,219,234 -1,493,889 -1,783,290 -2,051,197 -2,390,583
Reference price 2 54,800.00 60,250.00 71,290.00 60,930.00 59,080.00 81,150.00 81,150.00 81,150.00
Nbr of stocks (in thousands) 242,526 242,526 242,526 242,525 242,525 242,525 - -
Announcement Date 27/4/22 27/4/23 25/4/24 25/4/25 24/4/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.17x12.68x23.28x0.77% 124B
27.64x1.28x14.67x-.--% 42.02B
41.3x6.2x29.1x1.91% 37.99B
23.86x1.98x9.42x1.34% 35.83B
31.37x4.79x19.11x-.--% 30.39B
32.15x2.21x15.48x1.52% 30.07B
10.58x5.9x16.44x1.43% 26.35B
30.85x4.73x18.9x0.75% 17.95B
29.25x1.58x13.8x0.43% 14.02B
23.79x2.67x12.03x-.--% 14B
Average 28.69x 4.40x 17.22x 0.81% 37.21B
Weighted average by Cap. 31.03x 6.55x 19.12x 0.85%

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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