Company Valuation: ULVAC, Inc.

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 277,308 227,530 300,025 517,832 261,282 408,143 - -
Change - -17.95% 31.86% 72.6% -49.54% 56.21% - -
Enterprise Value (EV) 1 228,297 152,259 247,519 472,189 201,930 440,363 330,222 323,611
Change - -33.31% 62.56% 90.77% -57.24% 118.08% -6.86% -2%
P/E 18.7x 11.3x 21.2x 25.6x 15.7x 29.8x 18.8x 15.9x
PBR 1.71x 1.2x 1.51x 2.35x 1.17x 2.11x 1.59x 1.49x
PEG - 0.3x -0.7x 0.6x -0.9x 11.64x 2.66x 0.8x
Capitalization / Revenue 1.52x 0.94x 1.32x 1.98x 1.04x 1.89x 1.53x 1.44x
EV / Revenue 1.25x 0.63x 1.09x 1.81x 0.8x 1.64x 1.24x 1.14x
EV / EBITDA 8.92x 3.94x 8.78x 12.1x 5.41x 14.5x 7.73x 6.63x
EV / EBIT 13.3x 5.07x 12.4x 15.9x 7.61x 22.5x 10.7x 8.75x
EV / FCF 12.3x 5.75x -16.9x -200x 10.6x 34.6x 41.3x 14.6x
FCF Yield 8.15% 17.4% -5.92% -0.5% 9.46% 2.89% 2.42% 6.86%
Dividend per Share 2 95 124 109 144 164 152 155.8 184.3
Rate of return 1.69% 2.68% 1.79% 1.37% 3.09% 1.47% 1.88% 2.22%
EPS 2 301.1 410.4 287.7 410.7 338.7 347.4 440.5 523.2
Distribution rate 31.5% 30.2% 37.9% 35.1% 48.4% 43.8% 35.4% 35.2%
Net sales 1 183,011 241,260 227,528 261,115 251,184 269,130 266,967 283,827
EBITDA 1 25,583 38,648 28,191 38,952 37,328 30,405 42,709 48,800
EBIT 1 17,197 30,061 19,946 29,771 26,523 19,598 30,937 36,999
Net income 1 14,830 20,211 14,169 20,233 16,687 17,092 21,670 24,677
Net Debt 1 -49,011 -75,271 -52,506 -45,643 -59,352 -68,340 -77,920 -84,532
Reference price 2 5,630.00 4,620.00 6,092.00 10,510.00 5,306.00 8,300.00 8,300.00 8,300.00
Nbr of stocks (in thousands) 49,255 49,249 49,249 49,270 49,243 49,174 - -
Announcement Date 8/10/21 A 8/9/22 A 8/8/23 A 8/13/24 A 8/13/25 A 8/14/26 A - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.17x1.35x9.77x1.9% 2.59B
41.4x13.98x31.73x0.57% 691B
36.17x12.05x29.63x0.34% 426B
40.16x12.19x35.24x0.37% 420B
37.23x14.58x30.24x0.48% 261B
36.5x8.26x25.17x1.33% 182B
40.3x15.12x29.4x0.24% 173B
37.8x4.07x18.75x1.36% 97.7B
59.72x8.86x47.16x0.15% 66.59B
46.83x12.48x35.19x0.12% 65B
Average 39.63x 10.29x 29.23x 0.68% 238.4B
Weighted average by Cap. 39.83x 12.43x 31.11x 0.53%

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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