Company Valuation: HORIBA, Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 285,254 241,976 466,235 383,949 670,256 1,036,248 - -
Change - -15.17% 92.68% -17.65% 74.57% 54.6% - -
Enterprise Value (EV) 1 228,403 167,827 391,854 302,019 572,172 941,767 922,458 896,306
Change - -26.52% 133.49% -22.93% 89.45% 64.6% -2.05% -2.84%
P/E 13.4x 7.1x 11.6x 11.4x 18.1x 20.4x 17.1x 15.5x
PBR 1.4x 1.01x 1.65x 1.22x 1.93x 2.75x 2.47x 2.24x
PEG - 0.1x 0.6x -0.7x 1.7x 0.6x 0.9x 1.5x
Capitalization / Revenue 1.27x 0.9x 1.6x 1.21x 2.01x 2.71x 2.45x 2.3x
EV / Revenue 1.02x 0.62x 1.35x 0.95x 1.72x 2.46x 2.18x 1.99x
EV / EBITDA 5.42x 2.96x 6.6x 4.95x 8.64x 10.9x 9.14x 8.08x
EV / EBIT 7.13x 3.66x 8.29x 6.25x 10.8x 13.2x 10.8x 9.53x
EV / FCF 11.1x 7.23x 42x 14.4x 21.2x 38.4x 34.1x 15.4x
FCF Yield 9.02% 13.8% 2.38% 6.93% 4.71% 2.6% 2.93% 6.48%
Dividend per Share 2 150 245 290 270 450 670 511.7 560
Rate of return 2.22% 4.28% 2.63% 2.95% 2.82% 2.72% 2.07% 2.27%
EPS 2 505 807.1 953.7 799.4 883.5 1,208 1,442 1,589
Distribution rate 29.7% 30.4% 30.4% 33.8% 50.9% 55.5% 35.5% 35.2%
Net sales 1 224,314 270,133 290,558 317,369 333,081 382,967 423,325 449,777
EBITDA 1 42,109 56,754 59,393 60,993 66,220 86,450 100,942 110,879
EBIT 1 32,046 45,843 47,296 48,340 53,040 71,350 85,295 94,086
Net income 1 21,311 34,072 40,302 33,591 37,090 50,766 60,588 66,785
Net Debt 1 -56,851 -74,149 -74,381 -81,930 -98,084 -94,481 -113,790 -139,943
Reference price 2 6,760.00 5,730.00 11,030.00 9,152.00 15,960.00 24,675.00 24,675.00 24,675.00
Nbr of stocks (in thousands) 42,197 42,230 42,270 41,952 41,996 41,996 - -
Announcement Date 2/14/22 A 2/14/23 A 2/14/24 A 2/13/25 A 2/12/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.43x2.46x10.89x2.72% 6.51B
49x8.73x27.66x-.--% 60.58B
32.53x4.69x16.74x0.33% 20.75B
305.31x - - - 18.17B
37.44x8.55x27.88x0.56% 10.21B
170.08x14.01x75.48x-.--% 9.34B
34.07x3.85x18.78x0.28% 8.03B
52.12x5.88x23.7x - 7.78B
7.58x - - 7.1% 7.1B
Average 78.73x 6.88x 28.73x 1.57% 16.5B
Weighted average by Cap. 81.01x 7.61x 27.75x 0.68%

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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