Company Valuation: NEC Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,403,157 1,358,384 2,928,366 4,191,365 5,109,408 6,142,291 - -
Change - -3.19% 115.58% 43.13% 21.9% 20.22% - -
Enterprise Value (EV) 1 1,552,201 1,484,571 2,984,791 4,273,109 4,939,589 5,655,449 5,453,202 5,321,329
Change - -4.36% 101.05% 43.16% 15.6% 14.49% -3.58% -2.42%
P/E 9.93x 12x 19.6x 23.9x 19x 20.7x 18.3x 16.5x
PBR 0.93x 0.84x 1.53x 2.15x 2.32x 2.51x 2.29x 2.04x
PEG - -0.7x 0.6x 1.4x 0.3x 2x 1.4x 1.5x
Capitalization / Revenue 0.47x 0.41x 0.84x 1.22x 1.43x 1.65x 1.58x 1.52x
EV / Revenue 0.51x 0.45x 0.86x 1.25x 1.38x 1.52x 1.4x 1.32x
EV / EBITDA 4.96x 4.2x 7.94x 9.68x 9.6x 9.63x 8.33x 7.61x
EV / EBIT 11.7x 8.71x 15.9x 16.7x 13.7x 13.2x 11.2x 9.98x
EV / FCF 18.4x 14.5x 17.1x 20x 12.2x 16.3x 16.4x 14.4x
FCF Yield 5.42% 6.91% 5.85% 4.99% 8.19% 6.15% 6.09% 6.96%
Dividend per Share 2 20 22 24 28 38 42.66 47.78 52.58
Rate of return 1.94% 2.16% 1.09% 0.89% 0.99% 0.92% 1.03% 1.14%
EPS 2 103.7 84.9 112.2 131.5 203 224.1 252.6 280.5
Distribution rate 19.3% 25.9% 21.4% 21.3% 18.7% 19% 18.9% 18.7%
Net sales 1 3,014,095 3,313,018 3,477,262 3,423,400 3,582,733 3,711,472 3,887,073 4,037,472
EBITDA 1 313,064 353,745 375,712 441,600 514,415 587,101 654,261 699,178
EBIT 1 132,525 170,447 188,012 256,500 359,913 427,087 486,451 533,098
Net income 1 141,277 114,500 149,521 175,183 270,228 299,071 336,084 372,275
Net Debt 1 149,044 126,187 56,425 81,744 -169,819 -486,842 -689,089 -820,961
Reference price 2 1,030.00 1,020.00 2,198.00 3,145.00 3,846.00 4,631.00 4,631.00 4,631.00
Nbr of stocks (in thousands) 1,362,288 1,331,749 1,332,286 1,332,707 1,328,499 1,326,342 - -
Announcement Date 4/28/22 A 4/28/23 A 4/26/24 A 4/28/25 A 4/28/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.41x3.77x13.18x2.86% 222B
-111.07x17.66x101.98x-.--% 110B
12.64x1.4x7.33x3.8% 104B
15.63x2.86x10.8x5.26% 91.82B
21.26x5.54x13.6x2.68% 63.87B
15.38x2.25x9.53x5.08% 50B
18.39x2.36x11.32x4.73% 38.42B
20.66x1.52x9.63x0.92% 38.98B
19.65x1.6x9.8x1.49% 38.35B
Average 3.99x 4.33x 20.80x 2.98% 84.22B
Weighted average by Cap. 0.20x 5.10x 24.30x 2.92%

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