Company Valuation: NOF Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 413,070 499,336 498,345 474,805 702,176 620,379 - -
Change - 20.88% -0.2% -4.72% 47.89% -11.65% - -
Enterprise Value (EV) 1 333,269 411,659 411,766 392,055 618,951 557,382 542,233 524,937
Change - 23.52% 0.03% -4.79% 57.87% -9.95% -2.72% -3.19%
P/E 15.5x 14.8x 14.8x 13.1x 17.6x 15.2x 13.2x 12.5x
PBR 1.87x 2.08x 1.88x 1.69x 2.38x 2.03x 1.85x 1.74x
PEG - 0.5x 9.51x 1.46x 1.2x 4.97x 0.9x 2.23x
Capitalization / Revenue 2.14x 2.29x 2.24x 1.99x 2.72x 2.02x 1.9x 2.01x
EV / Revenue 1.73x 1.89x 1.85x 1.65x 2.4x 1.82x 1.66x 1.7x
EV / EBITDA 8.03x 8.76x 8.39x 7.36x 8.9x 5.8x 4.6x 6.27x
EV / EBIT 9.36x 10.1x 9.77x 8.65x 13.1x 10.6x 9.01x 8.86x
EV / FCF 17.9x 18.2x 36.5x 37x - 40.1x 23.8x 12.2x
FCF Yield 5.59% 5.5% 2.74% 2.7% - 2.5% 4.21% 8.21%
Dividend per Share 2 30 36 38 45 61 67.75 72 77.5
Rate of return 1.79% 1.75% 1.82% 2.23% 1.97% 2.45% 2.61% 2.81%
EPS 2 107.9 139 141.2 153.9 176.3 181.7 209.6 221.4
Distribution rate 27.8% 25.9% 26.9% 29.2% 34.6% 37.3% 34.3% 35%
Net sales 1 192,642 217,709 222,252 238,310 257,967 306,400 326,083 309,000
EBITDA 1 41,504 46,983 49,081 53,273 69,527 96,150 117,975 83,700
EBIT 1 35,595 40,624 42,142 45,308 47,411 52,500 60,150 59,250
Net income 1 26,690 33,973 33,990 36,497 40,550 41,143 46,567 46,600
Net Debt 1 -79,801 -87,677 -86,579 -82,750 -83,225 -62,998 -78,146 -95,442
Reference price 2 1,673.33 2,056.67 2,085.50 2,020.00 3,101.00 2,760.50 2,760.50 2,760.50
Nbr of stocks (in thousands) 246,855 242,789 238,957 235,052 226,435 224,734 - -
Announcement Date 5/11/22 A 5/11/23 A 5/9/24 A 5/9/25 A 5/11/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.67x4.21x13.54x2.15% 123B
14.76x5.25x34.45x2.77% 49.93B
-4758.29x1.37x9.66x6.38% 39.65B
12.39x1.2x6.84x2.47% 33.96B
9.69x3.13x7.23x4.59% 24.74B
9.24x0.88x5.45x4.33% 20.91B
30.23x2.65x14.39x0.39% 20.24B
70.61x12.73x46.33x0.07% 18.93B
16.35x - - - 18.42B
Average -507.59x 3.93x 17.23x 2.89% 38.86B
Weighted average by Cap. -519.03x 3.82x 16.48x 2.88%

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