Company Valuation: ASICS Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 466,756 533,755 809,538 2,225,941 2,660,881 2,827,846 - -
Change - 14.35% 51.67% 174.96% 19.54% 6.27% - -
Enterprise Value (EV) 1 480,931 606,170 827,650 2,156,196 2,647,143 2,752,555 2,702,531 2,647,081
Change - 26.04% 36.54% 160.52% 22.77% 3.98% -1.82% -2.05%
P/E 49.6x 26.8x 22.9x 35.2x 27.2x 22x 19x 17x
PBR 3.2x 3.13x 3.95x 9.55x 9.8x 8.37x 6.58x 5.29x
PEG - 0x 0.3x 0.4x 0.5x 0.7x 1.2x 1.5x
Capitalization / Revenue 1.16x 1.1x 1.42x 3.28x 3.28x 2.73x 2.46x 2.23x
EV / Revenue 1.19x 1.25x 1.45x 3.18x 3.26x 2.66x 2.35x 2.09x
EV / EBITDA 13.4x 12.1x 11.7x 17.8x 15.7x 12.1x 10.8x 9.65x
EV / EBIT 21.9x 17.8x 15.3x 21.5x 18.6x 14x 12.2x 10.8x
EV / FCF 12.3x -16.9x 11.1x 26.8x 33.5x 27.8x 20x 17.3x
FCF Yield 8.1% -5.92% 9.01% 3.73% 2.98% 3.6% 4.99% 5.77%
Dividend per Share 2 6 10 16.25 20 28 44 48.58 54.55
Rate of return 0.94% 1.37% 1.47% 0.64% 0.75% 1.1% 1.22% 1.37%
EPS 2 12.84 27.15 48.13 88.3 138.1 181.2 210 234.4
Distribution rate 46.7% 36.8% 33.8% 22.7% 20.3% 24.3% 23.1% 23.3%
Net sales 1 404,082 484,601 570,463 678,526 810,916 1,034,039 1,150,371 1,269,126
EBITDA 1 35,996 50,002 70,719 121,353 168,442 226,759 250,724 274,351
EBIT 1 21,945 34,002 54,215 100,111 142,519 196,403 221,172 245,992
Net income 1 9,402 19,887 35,272 63,806 98,719 128,074 146,465 164,204
Net Debt 1 14,175 72,415 18,112 -69,745 -13,738 -75,291 -125,314 -180,764
Reference price 2 637.50 728.50 1,104.50 3,110.00 3,755.00 3,989.00 3,989.00 3,989.00
Nbr of stocks (in thousands) 732,167 732,677 732,945 715,737 708,624 708,911 - -
Announcement Date 2/10/22 A 2/10/23 A 2/9/24 A 2/14/25 A 2/13/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.54x1.23x14.59x4.43% 54.59B
15.14x1.07x7.98x2.53% 28.82B
22.02x2.66x12.14x1.1% 18.41B
18.41x1.76x8.87x-.--% 9.16B
15.51x0.82x7.72x5.3% 2.12B
5.51x0.32x1.9x7.94% 1.21B
6.76x0.32x2.08x7.9% 1.14B
6.84x1.19x5.59x11.68% 812M
Average 13.97x 1.17x 7.61x 5.11% 14.53B
Weighted average by Cap. 19.26x 1.43x 11.67x 3.22%

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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