Company Valuation: Sumitomo Rubber Industries, Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 308,232 302,986 402,944 469,111 634,356 590,090 - -
Change - -1.7% 32.99% 16.42% 35.23% -6.98% - -
Enterprise Value (EV) 1 471,784 540,942 626,749 700,320 857,765 885,144 839,667 808,953
Change - 14.66% 15.86% 11.74% 22.48% 3.19% -5.14% -3.66%
P/E 10.5x 32.2x 10.9x 47.5x 12.6x 10.2x 8.1x 7.14x
PBR 0.61x 0.55x 0.65x 0.71x 0.89x 0.79x 0.75x 0.7x
PEG - -0.5x 0x -0.6x 0x 0.7x 0.3x 0.5x
Capitalization / Revenue 0.33x 0.28x 0.34x 0.39x 0.53x 0.45x 0.43x 0.41x
EV / Revenue 0.5x 0.49x 0.53x 0.58x 0.71x 0.68x 0.61x 0.57x
EV / EBITDA 4.04x 5.99x 4.38x 7.42x 5.32x 5.48x 4.35x 3.84x
EV / EBIT 9.59x 36.1x 9.72x 62.6x 10.4x 9.63x 7.14x 6.09x
EV / FCF 52x -10.6x 6.31x 26.7x -23.7x 36.1x 17.4x 13.4x
FCF Yield 1.92% -9.4% 15.9% 3.75% -4.21% 2.77% 5.76% 7.45%
Dividend per Share 2 55 35 58 58 77 89.32 109.6 126.7
Rate of return 4.69% 3.04% 3.79% 3.25% 3.19% 3.98% 4.88% 5.64%
EPS 2 112 35.8 140.9 37.51 191.6 220.9 277.2 314.5
Distribution rate 49.1% 97.8% 41.2% 155% 40.2% 40.4% 39.5% 40.3%
Net sales 1 936,000 1,098,700 1,177,400 1,211,856 1,207,061 1,307,502 1,367,656 1,422,137
EBITDA 1 116,893 90,336 143,049 94,354 161,253 161,543 192,990 210,882
EBIT 1 49,200 15,000 64,500 11,186 82,584 91,920 117,662 132,756
Net income 1 29,500 9,400 37,000 9,865 50,379 56,071 72,836 82,300
Net Debt 1 163,552 237,956 223,805 231,209 223,409 295,054 249,577 218,863
Reference price 2 1,172.00 1,152.00 1,532.00 1,783.50 2,413.50 2,245.00 2,245.00 2,245.00
Nbr of stocks (in thousands) 262,996 263,009 263,018 263,028 262,837 262,846 - -
Announcement Date 2/9/22 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.($)
10.16x0.68x5.48x3.98% 3.69B
14.39x1.1x5.8x3.2% 32.29B
14.21x1.03x5.77x3.86% 27.55B
8.9x1.18x5.68x3.25% 7.34B
11.36x1.14x6.66x2.5% 7.13B
10.07x - - 3.02% 6.62B
18.13x - - 3.09% 4.96B
7.97x0.86x4.12x3.72% 3.63B
36.63x1.95x10.98x1.82% 2.64B
119.8x - - - 2.34B
Average 25.16x 1.13x 6.36x 3.16% 9.82B
Weighted average by Cap. 16.32x 1.08x 5.93x 3.34%

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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