Company Valuation: Advantest Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,859,608 2,237,070 5,033,620 4,748,144 14,755,312 26,733,916 - -
Change - 20.3% 125.01% -5.67% 210.76% 81.18% - -
Enterprise Value (EV) 1 1,786,489 2,202,377 5,021,361 4,579,103 14,435,538 26,140,344 25,604,499 24,885,432
Change - 23.28% 128% -8.81% 215.25% 81.08% -2.05% -2.81%
P/E 21.5x 17.4x 80.7x 29.6x 39.5x 36.4x 27.9x 23x
PBR 6.23x 6.07x 11.7x 9.37x 18.5x 20.6x 13.5x 9.37x
PEG - 0.3x -1.6x 0x 0x 0.4x 0.9x 1.1x
Capitalization / Revenue 4.46x 3.99x 10.3x 6.09x 13.1x 14.3x 11.1x 9.33x
EV / Revenue 4.29x 3.93x 10.3x 5.87x 12.8x 14x 10.7x 8.68x
EV / EBITDA 13.8x 11.6x 46.6x 17.9x 27.5x 25.9x 19.5x 15.9x
EV / EBIT 15.6x 13.1x 61.5x 20.1x 28.9x 27x 19.9x 16x
EV / FCF 55.9x 50.6x 1,062x 17.1x 48.3x 49.7x 31.8x 23x
FCF Yield 1.79% 1.98% 0.09% 5.86% 2.07% 2.01% 3.15% 4.34%
Dividend per Share 2 30 33.75 34.25 39 59 113 125.8 177.2
Rate of return 1.24% 1.11% 0.5% 0.6% 0.29% 0.31% 0.34% 0.48%
EPS 2 112.4 174.4 84.45 218.7 515.2 1,017 1,329 1,607
Distribution rate 26.7% 19.4% 40.6% 17.8% 11.5% 11.1% 9.47% 11%
Net sales 1 416,901 560,191 486,507 779,707 1,128,610 1,866,739 2,403,393 2,866,375
EBITDA 1 129,702 189,083 107,732 255,236 524,732 1,008,013 1,311,127 1,568,089
EBIT 1 114,734 167,687 81,628 228,161 499,120 968,280 1,284,821 1,553,477
Net income 1 87,301 130,400 62,290 161,177 375,353 736,224 958,723 1,155,880
Net Debt 1 -73,119 -34,693 -12,259 -169,041 -319,774 -593,572 -1,129,417 -1,848,484
Reference price 2 2,417.50 3,040.00 6,819.00 6,472.00 20,330.00 37,030.00 37,030.00 37,030.00
Nbr of stocks (in thousands) 769,228 735,878 738,176 733,644 725,790 721,953 - -
Announcement Date 4/27/22 A 4/26/23 A 4/26/24 A 4/25/25 A 4/27/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.89x12.55x28.59x0.63% 638B
31.56x9.56x27.73x0.47% 330B
26.52x8.77x21.1x0.5% 317B
29.51x11.57x23.94x0.6% 207B
34.56x13.23x24.35x0.34% 159B
28.43x6.41x19.54x1.71% 141B
36.18x3.97x18.01x1.45% 94.19B
49.56x7.36x39.16x0.18% 55.69B
34.16x9.29x25.57x0.17% 48.97B
Average 34.04x 9.19x 25.33x 0.67% 221.24B
Weighted average by Cap. 32.74x 10.34x 25.51x 0.65%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Advantest Corporation

Historical PBR trend

Valuation ratios - PBR - Advantest Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Advantest Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Advantest Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - Advantest Corporation
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