Company Valuation: Shofu Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 27,769 35,916 52,129 75,036 59,648 76,956 - -
Change - 29.34% 45.14% 43.94% -20.51% 29.02% - -
Enterprise Value (EV) 1 20,183 27,526 42,694 64,144 49,527 65,933 62,894 62,074
Change - 36.38% 55.11% 50.24% -22.79% 33.13% -4.61% -1.3%
P/E 10.9x 11.5x 14.2x 17.4x 12.2x 14.1x 13.1x 13.3x
PBR 0.85x 1.02x 1.26x 1.76x 1.23x 1.51x 1.41x 1.34x
PEG - 0.5x 0.8x 1x 0.9x 1.1x 1.65x -7.08x
Capitalization / Revenue 0.99x 1.13x 1.49x 1.94x 1.49x 1.79x 1.67x 1.55x
EV / Revenue 0.72x 0.87x 1.22x 1.66x 1.24x 1.53x 1.37x 1.25x
EV / EBITDA 4.9x 5.74x 7.26x 9.94x 7.7x 8.62x 7.4x 6.7x
EV / EBIT 6.27x 7.2x 9.07x 11.9x 9.48x 10.6x 9.13x 8.28x
EV / FCF - 14.6x 23.6x 25.3x -47.5x 11.4x 11.4x 17.2x
FCF Yield - 6.83% 4.23% 3.95% -2.1% 8.8% 8.79% 5.81%
Dividend per Share 2 19.5 28.5 31 49 60 64.33 72 77.67
Rate of return 2.5% 2.81% 2.11% 2.32% 3.58% 2.96% 3.31% 3.57%
EPS 2 71.61 88.05 103.1 121.5 137.4 154.4 166.7 163.6
Distribution rate 27.2% 32.4% 30.1% 40.3% 43.7% 41.7% 43.2% 47.5%
Net sales 1 28,137 31,678 35,080 38,698 39,994 43,007 46,069 49,695
EBITDA 1 4,118 4,795 5,877 6,451 6,436 7,650 8,500 9,267
EBIT 1 3,217 3,824 4,709 5,392 5,226 6,211 6,892 7,494
Net income 1 2,546 3,135 3,655 4,317 4,887 5,501 5,940 5,830
Net Debt 1 -7,586 -8,390 -9,435 -10,892 -10,121 -11,023 -14,062 -14,882
Reference price 2 780.50 1,014.50 1,469.00 2,111.00 1,676.00 2,177.00 2,177.00 2,177.00
Nbr of stocks (in thousands) 35,578 35,402 35,486 35,545 35,589 35,661 - -
Announcement Date 5/11/22 A 5/10/23 A 5/9/24 A 5/9/25 A 5/13/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.1x1.55x8.71x2.96% 504M
27.78x4.09x13.07x4.71% 15.16B
14.74x - - 2.44% 5.37B
45.24x - - 0.56% 3.31B
17.73x - - 2.84% 2.49B
8.27x0.48x2.33x5.4% 1.82B
18.67x - - - 1.76B
26.36x1.6x10.47x1.7% 1.51B
21.7x2.49x9.71x1.01% 1.01B
Average 21.62x 2.04x 8.86x 2.7% 3.66B
Weighted average by Cap. 24.62x 3.43x 11.62x 3.48%

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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