Company Valuation: Adeka Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 278,533 231,588 329,268 273,567 354,519 424,270 - -
Change - -16.85% 42.18% -16.92% 29.59% 19.68% - -
Enterprise Value (EV) 1 247,842 201,823 301,376 221,994 311,436 379,870 368,537 356,537
Change - -18.57% 49.33% -26.34% 40.29% 21.97% -2.98% -3.26%
P/E 11.7x 13.8x 14.3x 11x 13x 13.8x 13.4x 12x
PBR 1.11x 0.89x 1.15x 0.92x 1.13x 1.31x 1.25x 1.16x
PEG - -0.5x 0.4x 1.2x 1x 1x 4.43x 1.1x
Capitalization / Revenue 0.77x 0.57x 0.82x 0.67x 0.85x 0.94x 0.91x 0.87x
EV / Revenue 0.68x 0.5x 0.75x 0.55x 0.75x 0.84x 0.79x 0.73x
EV / EBITDA 4.9x 4.17x 5.74x 3.79x 5.15x 5.53x 5.18x 4.61x
EV / EBIT 7.1x 6.24x 8.51x 5.41x 7.49x 8.21x 7.42x 6.6x
EV / FCF 24.7x -89x 16x 8.06x 16.4x 26.4x 13.2x 10.8x
FCF Yield 4.05% -1.12% 6.27% 12.4% 6.08% 3.79% 7.58% 9.24%
Dividend per Share 2 70 70 90 100 112 126.6 130 143.4
Rate of return 2.59% 3.1% 2.79% 3.72% 3.1% 2.89% 2.97% 3.28%
EPS 2 230.2 163.3 224.9 245.6 278 317.8 327.4 363.1
Distribution rate 30.4% 42.9% 40% 40.7% 40.3% 39.8% 39.7% 39.5%
Net sales 1 363,034 403,343 399,770 407,100 416,500 452,853 468,403 485,600
EBITDA 1 50,547 48,372 52,493 58,565 60,449 68,733 71,088 77,367
EBIT 1 34,927 32,369 35,428 41,000 41,600 46,271 49,686 54,040
Net income 1 23,744 16,778 22,977 25,019 27,866 30,880 32,667 35,320
Net Debt 1 -30,691 -29,765 -27,892 -51,573 -43,083 -44,400 -55,733 -67,733
Reference price 2 2,704.00 2,258.00 3,224.00 2,689.00 3,610.00 4,375.00 4,375.00 4,375.00
Nbr of stocks (in thousands) 103,008 102,564 102,130 101,736 98,205 96,976 - -
Announcement Date 5/13/22 A 5/12/23 A 5/14/24 A 5/14/25 A 5/14/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.77x0.84x5.53x2.89% 2.76B
26.87x4.17x13.41x2.15% 123B
16.65x6.19x32.34x2.76% 58.8B
58.58x1.36x9.57x6.03% 39.78B
12.13x1.24x6.73x2.79% 34.76B
9.91x3.21x7.54x4.38% 25.99B
78.7x14.29x51.99x0.06% 21.11B
8.71x0.87x5.34x4.33% 20.57B
16.48x0.79x5.84x1.87% 19.41B
10.12x1.02x7.83x4.22% 18.12B
Average 25.19x 3.40x 14.61x 3.15% 36.43B
Weighted average by Cap. 26.56x 3.88x 16.03x 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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