Company Valuation: NEC Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,403,157 1,358,384 2,928,366 4,191,365 5,109,408 6,634,364 - -
Change - -3.19% 115.58% 43.13% 21.9% 29.85% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 6,147,522 5,945,275 5,813,402
Change - -4.36% 101.05% 43.16% 15.6% 24.45% -3.29% -2.22%
P/E 9.93x 12x 19.6x 23.9x 19x 22.3x 19.8x 17.8x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.71x 2.47x 2.21x
PEG - -0.7x 0.6x 1.4x 0.3x 2.1x 1.6x 1.6x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.79x 1.71x 1.64x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.66x 1.53x 1.44x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 10.5x 9.09x 8.31x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 14.4x 12.2x 10.9x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 17.7x 17.9x 15.7x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 5.66% 5.58% 6.37%
Dividend per Share 2 20 22 24 28 38 42.66 47.78 52.58
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 0.85% 0.96% 1.05%
EPS 2 103.7 84.9 112.2 131.5 203 224.1 252.6 280.5
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 19% 18.9% 18.7%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,711,472 3,887,073 4,037,472
EBITDA 1 313,064 353,745 375,712 441,600 514,415 587,101 654,261 699,178
EBIT 1 132,525 170,447 188,012 256,500 359,913 427,087 486,451 533,098
Net income 1 141,277 114,500 149,521 175,183 270,228 299,071 336,084 372,275
Net Debt 1 149,044 126,187 56,425 81,744 -169,819 -486,842 -689,089 -820,961
Reference price 2 1,030.00 1,020.00 2,198.00 3,145.00 3,846.00 5,002.00 5,002.00 5,002.00
Nbr of stocks (in thousands) 1,362,288 1,331,749 1,332,286 1,332,707 1,328,499 1,326,342 - -
Announcement Date 28/4/22 28/4/23 26/4/24 28/4/25 28/4/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.32x1.66x10.47x0.85% 41.61B
22x3.58x12.52x3.05% 209B
12.09x1.33x7x3.97% 99.92B
-104.41x16.55x95.82x-.--% 103B
15.77x2.89x10.9x5.21% 92.16B
21.01x5.48x13.46x2.73% 62.81B
15.13x2.21x9.37x5.16% 49B
22.02x1.8x11.45x1.33% 42.45B
18.43x2.37x11.35x4.69% 38.34B
21.08x2.45x15.99x2.85% 28.72B
Average 6.54x 4.03x 19.83x 2.99% 76.72B
Weighted average by Cap. 2.22x 4.71x 22.60x 2.99%

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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