Company Valuation: TOKAI Corp.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 60,694 69,713 77,103 70,684 75,946 73,197 - -
Change - 14.86% 10.6% -8.33% 7.44% -3.62% - -
Enterprise Value (EV) 1 27,258 35,015 47,242 45,942 54,043 50,097 47,269 44,371
Change - 28.46% 34.92% -2.75% 17.63% -7.3% -5.65% -6.13%
P/E 10.5x 11.4x 13.3x 15x 13.2x 11.6x 10.9x 10.1x
PBR 0.79x 0.85x 0.89x 0.83x 0.91x 0.8x 0.77x 0.73x
PEG - 2.09x -2.77x -1x 0.4x 1.17x 1.55x 1.41x
Capitalization / Revenue 0.49x 0.54x 0.56x 0.47x 0.48x 0.44x 0.43x 0.41x
EV / Revenue 0.22x 0.27x 0.34x 0.31x 0.34x 0.3x 0.28x 0.25x
EV / EBITDA 2.23x 2.88x 3.7x 3.46x 3.72x 3.55x 3.2x 2.87x
EV / EBIT 3.3x 4.46x 5.85x 5.6x 5.76x 5.54x 4.95x 4.39x
EV / FCF 8.03x 14.9x -38.7x 8.1x 7.5x 6.17x 7.3x 6.53x
FCF Yield 12.5% 6.73% -2.58% 12.3% 13.3% 16.2% 13.7% 15.3%
Dividend per Share 2 42 60 58 58 68 82 86.5 92
Rate of return 2.44% 3.03% 2.65% 2.78% 2.77% 3.46% 3.65% 3.88%
EPS 2 164.4 173.4 165 139.1 185.6 204 218.4 234
Distribution rate 25.5% 34.6% 35.1% 41.7% 36.6% 40.2% 39.6% 39.3%
Net sales 1 123,484 130,184 138,222 149,542 159,664 165,900 171,250 176,885
EBITDA 1 12,205 12,144 12,762 13,297 14,522 14,108 14,774 15,468
EBIT 1 8,252 7,855 8,082 8,205 9,382 9,038 9,552 10,098
Net income 1 5,806 6,106 5,810 4,733 6,069 6,212 6,546 6,902
Net Debt 1 -33,436 -34,698 -29,861 -24,742 -21,903 -23,100 -25,928 -28,826
Reference price 2 1,724.00 1,979.00 2,190.00 2,090.00 2,459.00 2,370.00 2,370.00 2,370.00
Nbr of stocks (in thousands) 35,206 35,227 35,207 33,820 30,885 30,885 - -
Announcement Date 5/9/22 A 5/11/23 A 5/10/24 A 5/9/25 A 5/12/26 A - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.65x0.3x3.57x3.45% 466M
37.12x6.77x24.08x0.93% 81.49B
39.56x4.44x15.22x1.15% 20.69B
34.24x1.35x13.57x0.99% 16.85B
20.53x2.15x10.57x3.5% 14.64B
25.2x2.84x12.18x2.97% 12.05B
25.02x3.49x13.43x2.31% 7.93B
15.07x0.65x9.34x1.41% 6.88B
10.09x1.15x6.09x2.09% 6.07B
19.25x0.41x9.49x3.87% 5.46B
Average 23.77x 2.36x 11.75x 2.27% 17.25B
Weighted average by Cap. 31.87x 4.48x 17.79x 1.55%

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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