Company Valuation: Coca-Cola Bottlers Japan Holdings Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 288,573 236,735 257,713 363,261 453,312 403,454 - -
Change - -17.96% 8.86% 40.96% 24.79% -11% - -
Enterprise Value (EV) 1 443,786 340,362 353,608 430,998 507,503 460,802 450,843 444,355
Change - -23.3% 3.89% 21.89% 17.75% -9.2% -2.16% -1.44%
P/E ratio -61.2x -94.6x -31.9x 194x 61.3x 30.3x 20.9x 17.4x
PBR 0.58x 0.48x 0.54x 0.77x 0.95x 0.86x 0.85x 0.84x
PEG - 2x -0x -2x 0x 0.3x 0.5x 0.9x
Capitalization / Revenue 0.36x 0.3x 0.32x 0.42x 0.51x 0.44x 0.44x 0.43x
EV / Revenue 0.56x 0.43x 0.44x 0.5x 0.57x 0.51x 0.49x 0.48x
EV / EBITDA 9.27x 9.41x 10.3x 8.64x 8.62x 7.06x 6.2x 5.7x
EV / EBIT -37.9x -16.2x -30.7x 125x 37.9x 21.3x 15.3x 12.9x
EV / FCF -20.4x 16.4x 18x 9.62x 15.5x 19.9x 14.6x 12.9x
FCF Yield -4.91% 6.08% 5.55% 10.4% 6.45% 5.02% 6.86% 7.77%
Dividend per Share 2 25 50 50 50 53 57.17 61.67 66.33
Rate of return 1.55% 3.79% 3.48% 2.47% 2.12% 2.44% 2.63% 2.83%
EPS 2 -26.29 -13.96 -45 10.43 40.76 77.58 112.1 134.5
Distribution rate -95.1% -358% -111% 479% 130% 73.7% 55% 49.3%
Net sales 1 791,956 785,837 807,430 868,581 892,681 909,354 919,162 928,106
EBITDA 1 47,861 36,189 34,273 49,901 58,850 65,244 72,698 77,943
EBIT 1 -11,722 -20,971 -11,513 3,441 13,390 21,669 29,460 34,400
Net income 1 -4,715 -2,503 -8,070 1,871 7,309 13,476 18,898 22,147
Net Debt 1 155,213 103,627 95,895 67,737 54,191 57,347 47,389 40,901
Reference price 2 1,609.00 1,320.00 1,437.00 2,024.50 2,497.00 2,347.00 2,347.00 2,347.00
Nbr of stocks (in thousands) 179,349 179,345 179,341 179,432 181,543 171,902 - -
Announcement Date 2/10/21 2/10/22 2/9/23 2/14/24 2/13/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
30.25x0.51x7.06x2.44% 2.8B
17.97x2.36x12.21x4.3% 179B
19.86x2.2x12.49x2.59% 42.8B
15.26x1.43x7.15x3.85% 20.26B
14.24x1.68x8.92x6.56% 1.43B
15.85x1.55x8.75x2.71% 1.02B
Average 18.90x 1.62x 9.43x 3.74% 41.29B
Weighted average by Cap. 18.18x 2.23x 11.75x 3.95%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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