Company Valuation: Daiichi Sankyo Company, Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 6,179,276 5,136,821 9,244,546 9,159,669 6,590,893 5,207,614 - -
Change - -16.87% 79.97% -0.92% -28.04% -20.99% - -
Enterprise Value (EV) 1 5,538,193 4,456,437 8,995,480 8,614,202 6,052,387 4,707,628 4,727,881 4,687,727
Change - -19.53% 101.85% -4.24% -29.74% -22.22% 0.43% -0.85%
P/E ratio 82.3x 76.7x 84.7x 45.6x 22.5x 16.7x 15x 12.8x
PBR 4.86x 3.8x 6.39x 5.43x 4.1x 2.82x 2.64x 2.33x
PEG - -7.1x 1.3x 0.5x 0.5x 2.11x 1.3x 0.8x
Capitalization / Revenue 6.42x 4.92x 7.23x 5.72x 3.49x 2.45x 2.23x 2.01x
EV / Revenue 5.75x 4.26x 7.04x 5.38x 3.21x 2.21x 2.03x 1.81x
EV / EBITDA 45.7x 33.9x 47.8x 31.8x 15.1x 11x 9.72x 8.84x
EV / EBIT 86.8x 61x 74.6x 40.7x 18.2x 13.2x 11.5x 9.76x
EV / FCF 36.2x 58.3x -62.8x 27.2x -97x 17x 22.2x 17.5x
FCF Yield 2.76% 1.72% -1.59% 3.68% -1.03% 5.87% 4.5% 5.71%
Dividend per Share 2 27 27 30 50 60 78.15 84.18 90.52
Rate of return 0.84% 1.01% 0.62% 1.05% 1.71% 2.77% 2.99% 3.21%
EPS 2 39.17 34.94 56.96 104.7 156 168.3 188.4 220.2
Distribution rate 68.9% 77.3% 52.7% 47.8% 38.5% 46.4% 44.7% 41.1%
Net sales 1 962,516 1,044,900 1,278,478 1,601,700 1,886,256 2,125,410 2,332,203 2,588,793
EBITDA 1 121,177 131,270 188,369 271,234 400,574 428,912 486,204 530,004
EBIT 1 63,795 73,000 120,580 211,600 331,925 355,651 409,667 480,314
Net income 1 75,958 67,000 109,188 200,700 295,756 310,870 347,495 403,431
Net Debt 1 -641,083 -680,384 -249,066 -545,467 -538,506 -499,986 -479,732 -519,886
Reference price 2 3,225.00 2,680.00 4,822.00 4,777.00 3,511.00 2,818.50 2,818.50 2,818.50
Nbr of stocks (in thousands) 1,916,055 1,916,724 1,917,160 1,917,452 1,877,212 1,847,654 - -
Announcement Date 4/27/21 4/27/22 4/27/23 4/25/24 4/25/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.75x2.21x10.98x2.77% 32.63B
28.95x10.91x21.91x0.67% 880B
25.63x5.96x16.23x2.19% 582B
24x6.55x13.15x3.16% 388B
17.32x4.22x10.43x3.13% 324B
23.94x4.98x13.83x1.75% 295B
20.93x5.64x13.96x2.87% 293B
27.02x4.74x14.82x2.92% 286B
24.64x6.26x11.14x2.74% 197B
20.1x6.12x11.06x2.25% 180B
Average 22.93x 5.76x 13.75x 2.45% 345.88B
Weighted average by Cap. 24.66x 6.90x 15.66x 2.12%

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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