Company Valuation: Central Forest Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Capitalization 1 16,431 16,861 14,709 16,858 19,612 22,491
Change - 2.62% -12.76% 14.6% 16.34% 14.68%
Enterprise Value (EV) 1 -1,524 -3,143 -5,663 -3,027 -1,998 -115.9
Change - -106.19% -80.16% 46.54% 34.02% 94.2%
P/E ratio 25.3x 16x 11.6x 8.64x 9.1x 9.19x
PBR 0.58x 0.59x 0.5x 0.54x 0.6x 0.65x
PEG - 0.3x 0.6x 0.1x 0.6x 0.7x
Capitalization / Revenue 0.06x 0.06x 0.05x 0.05x 0.06x 0.06x
EV / Revenue -0.01x -0.01x -0.02x -0.01x -0.01x -0x
EV / EBITDA -1.16x -1.81x -2.52x -0.93x -0.56x -0.03x
EV / EBIT -1.8x -2.72x -3.49x -1.2x -0.71x -0.04x
EV / FCF -0.99x -1.14x -8.14x -2.83x -1.18x -0.07x
FCF Yield -101% -87.4% -12.3% -35.3% -84.7% -1,407%
Dividend per Share 2 30 30 34 43 55 62
Rate of return 1.6% 1.56% 2.03% 2.18% 2.29% 2.25%
EPS 2 73.91 119.8 144.4 228 263.6 299.3
Distribution rate 40.6% 25% 23.5% 18.9% 20.9% 20.7%
Net sales 1 284,793 298,237 312,649 328,838 348,074 366,060
EBITDA 1 1,311 1,734 2,248 3,240 3,544 3,798
EBIT 1 849 1,155 1,623 2,529 2,817 3,043
Net income 1 649 1,052 1,268 1,959 2,250 2,448
Net Debt 1 -17,955 -20,004 -20,372 -19,885 -21,610 -22,607
Reference price 2 1,871.00 1,920.00 1,675.00 1,970.00 2,398.00 2,750.00
Nbr of stocks (in thousands) 8,782 8,782 8,782 8,557 8,179 8,179
Announcement Date 3/25/21 3/24/22 3/28/23 3/28/24 3/27/25 3/25/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 143M
43.74x1.43x21.59x0.77% 1,011B
27.85x1.19x10.25x0.94% 53.28B
15.02x0.55x6.91x3.08% 42.33B
13.21x0.37x6.77x2.09% 41.65B
17.97x0.58x8.6x2.97% 41.61B
17.21x0.55x10.52x2.97% 34.82B
39.7x0.85x9.82x2.67% 31.88B
72.67x0.76x12.54x0.77% 30.65B
21.67x0.73x6.11x1.36% 27.04B
Average 29.89x 0.78x 10.34x 1.96% 131.41B
Weighted average by Cap. 39.81x 1.26x 18.67x 1.08%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Central Forest Group, Inc.