Company Valuation: Renesas Electronics Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,764,012 2,118,920 4,510,709 3,667,244 3,878,230 6,244,531 - -
Change - -23.34% 112.88% -18.7% 5.75% 61.01% - -
Enterprise Value (EV) 1 3,356,176 2,538,595 4,726,976 4,852,369 4,750,299 6,819,050 6,455,955 5,971,455
Change - -24.36% 86.2% 2.65% -2.1% 43.55% -5.32% -7.5%
P/E 20.6x 8.6x 13.4x 16.9x -74.7x 21.3x 18.3x 16.1x
PBR 2.39x 1.39x 2.31x 1.45x 1.59x 2.14x 1.94x 1.72x
PEG - 0.1x 0.4x -0.5x 1x -0x 1.1x 1.2x
Capitalization / Revenue 2.78x 1.41x 3.07x 2.72x 2.94x 3.77x 3.48x 3.16x
EV / Revenue 3.38x 1.69x 3.22x 3.6x 3.6x 4.11x 3.6x 3.02x
EV / EBITDA 10.5x 3.97x 8.12x 9.98x 10.2x 11.1x 9.16x 7.31x
EV / EBIT 18.3x 4.54x 9.42x 12.2x 12.3x 12.3x 10.3x 8.37x
EV / FCF -9.43x 6.65x 20.6x 23x 14.5x 19.5x 15.7x 13.1x
FCF Yield -10.6% 15% 4.85% 4.34% 6.91% 5.12% 6.37% 7.62%
Dividend per Share 2 - - - 28 28 32.11 32.68 36.23
Rate of return - - - 1.37% 1.31% 0.94% 0.96% 1.06%
EPS 2 68.96 137.7 189.8 120.8 -28.65 160.8 187 211.6
Distribution rate - - - 23.2% -97.7% 20% 17.5% 17.1%
Net sales 1 994,418 1,500,900 1,469,415 1,348,479 1,321,200 1,657,432 1,792,816 1,974,205
EBITDA 1 320,097 639,200 581,900 486,200 464,100 615,036 704,849 816,829
EBIT 1 183,601 559,400 501,600 397,900 386,900 552,553 626,367 713,832
Net income 1 127,261 256,632 337,086 219,084 -51,800 291,185 344,543 397,705
Net Debt 1 592,164 419,675 216,267 1,185,125 872,069 574,519 211,425 -273,076
Reference price 2 1,423.00 1,183.50 2,549.00 2,046.50 2,140.00 3,417.00 3,417.00 3,417.00
Nbr of stocks (in thousands) 1,942,383 1,790,384 1,769,599 1,791,959 1,812,257 1,827,489 - -
Announcement Date 2/9/22 A 2/9/23 A 2/8/24 A 2/6/25 A 2/5/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.78x12.42x18.72x0.34% 5,253B
22.54x11.06x14.98x1.12% 1,982B
40.93x16.78x24.69x0.71% 1,755B
12.85x7.79x9.42x0.06% 1,054B
4.73x2.93x3.53x0.22% 874B
81.26x14.71x55.3x-.--% 760B
-38.78x7.82x21.76x-.--% 470B
190.21x41.47x84.56x-.--% 255B
30.41x11.04x20.45x2.22% 236B
Average 40.66x 14.00x 28.16x 0.52% 1,404B
Weighted average by Cap. 27.52x 12.30x 20.81x 0.48%

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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