Company Valuation: Azbil Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 561,475 482,010 552,561 594,441 687,483 736,650 - -
Change - -14.15% 14.64% 7.58% 15.65% 7.15% - -
Enterprise Value (EV) 1 480,067 410,778 482,035 505,028 597,116 659,733 637,995 671,626
Change - -14.43% 17.35% 4.77% 18.23% 10.49% -3.29% 5.27%
P/E 27.1x 21.5x 18.4x 14.8x 17.9x 20.2x 18.9x 18.2x
PBR 2.8x 2.38x 2.5x 2.51x 2.72x 3.06x 3.02x 2.74x
PEG - 1.9x 0.5x 0.4x -6.34x -6.25x 2.8x 4.56x
Capitalization / Revenue 2.19x 1.73x 1.9x 1.98x 2.3x 2.31x 2.24x 2.17x
EV / Revenue 1.87x 1.48x 1.66x 1.68x 2x 2.07x 1.94x 1.98x
EV / EBITDA 14.5x 11.3x 11.2x 10.5x 11x 8.64x 7.86x 11.3x
EV / EBIT 17x 13.1x 13.1x 12.2x 12.6x 12.8x 12.1x 11.9x
EV / FCF 78.3x 36.9x 19.1x 11x 13.4x 21.5x 18.1x 17.6x
FCF Yield 1.28% 2.71% 5.22% 9.11% 7.45% 4.66% 5.51% 5.69%
Dividend per Share 2 15 16.5 19 24 32 50 37.33 54.5
Rate of return 1.47% 1.83% 1.81% 2.08% 2.36% 3.38% 2.52% 3.68%
EPS 2 37.7 42.07 57.1 77.96 75.76 73.31 78.26 81.39
Distribution rate 39.8% 39.2% 33.3% 30.8% 42.2% 68.2% 47.7% 67%
Net sales 1 256,551 278,406 290,938 300,378 298,930 318,469 329,298 339,246
EBITDA 1 33,078 36,205 42,885 48,200 54,365 76,390 81,182 59,300
EBIT 1 28,231 31,251 36,841 41,486 47,304 51,405 52,734 56,403
Net income 1 20,784 22,602 30,207 40,955 38,565 37,875 39,357 41,405
Net Debt 1 -81,408 -71,232 -70,526 -89,413 -90,367 -76,917 -98,655 -65,024
Reference price 2 1,022.50 902.50 1,048.50 1,151.50 1,354.00 1,479.00 1,479.00 1,479.00
Nbr of stocks (in thousands) 549,119 534,083 527,002 516,232 507,743 498,073 - -
Announcement Date 5/13/22 A 5/12/23 A 5/13/24 A 5/13/25 A 5/13/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.17x2.07x8.64x3.38% 4.68B
25.52x3.05x16.67x2.02% 244B
14.17x1.75x7.94x3.61% 205B
30.6x3.92x18.12x1.6% 186B
39.26x5.78x24.38x1% 171B
46.61x6.26x28.04x1.06% 156B
94.39x11.71x66.99x0.33% 98.2B
41.92x6.89x27.71x0.1% 97.51B
32.42x5.22x18.16x1.4% 88.26B
34.22x7.37x23.14x0.54% 57.48B
Average 37.93x 5.40x 23.98x 1.5% 130.83B
Weighted average by Cap. 36.00x 4.98x 22.83x 1.59%

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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