Company Valuation: Ebara Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 589,791 434,508 770,714 1,136,543 1,682,052 2,023,421 - -
Change - -26.33% 77.38% 47.47% 48% 20.29% - -
Enterprise Value (EV) 1 558,541 434,508 764,799 1,115,944 1,763,302 2,126,735 2,127,387 2,089,144
Change - -22.21% 76.02% 45.91% 58.01% 20.61% 0.03% -1.8%
P/E 13.8x 8.6x 12.8x 15.9x 22.2x 20.6x 17.2x 14.2x
PBR 1.88x 1.21x 1.88x 2.4x 3.31x 3.57x 3.16x 2.73x
PEG - 0.5x 0.7x 0.9x 2.94x 0.7x 0.9x 0.7x
Capitalization / Revenue 0.98x 0.64x 1.01x 1.31x 1.76x 1.91x 1.71x 1.55x
EV / Revenue 0.93x 0.64x 1.01x 1.29x 1.84x 2x 1.8x 1.6x
EV / EBITDA 6.75x 4.59x 6.79x 8.72x 11.9x 12.2x 9.66x 7.93x
EV / EBIT 9.1x 6.16x 8.89x 11.4x 15.5x 15.9x 12.6x 10.3x
EV / FCF 13.5x -346x 26.1x 21.3x -34.9x 43.4x 53.7x 46.1x
FCF Yield 7.43% -0.29% 3.83% 4.69% -2.86% 2.3% 1.86% 2.17%
Dividend per Share 2 32.6 38.6 45.8 55 59 74.8 90.66 109.4
Rate of return 2.55% 4.09% 2.74% 2.24% 1.6% 1.69% 2.04% 2.47%
EPS 2 92.69 109.7 130.7 154.6 166.3 215.3 257.7 312.8
Distribution rate 35.2% 35.2% 35% 35.6% 35.5% 34.7% 35.2% 35%
Net sales 1 603,213 680,870 759,328 866,668 958,285 1,061,745 1,179,974 1,301,877
EBITDA 1 82,807 94,640 112,615 127,964 148,606 173,653 220,177 263,490
EBIT 1 61,372 70,572 86,025 97,953 113,802 133,437 168,825 203,297
Net income 1 43,616 50,488 60,283 71,401 76,633 97,786 117,356 141,709
Net Debt 1 -31,250 - -5,915 -20,599 81,250 103,314 103,966 65,723
Reference price 2 1,278.00 944.00 1,669.60 2,460.50 3,684.00 4,436.00 4,436.00 4,436.00
Nbr of stocks (in thousands) 461,495 460,283 461,616 461,916 456,583 456,136 - -
Announcement Date 2/14/22 2/14/23 2/14/24 2/14/25 2/13/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.6x2x12.25x1.69% 12.97B
30.81x5.27x19.16x0.85% 121B
26.82x4.93x17.28x2.24% 35.46B
21.61x1.85x13.33x2.17% 31.42B
30.13x4.02x15.19x0.11% 29.63B
19.55x3.3x10.63x1.58% 27.05B
21.3x3.09x13.33x1.1% 25.98B
23.03x2.82x12.15x1.64% 24.68B
25.88x3.25x15.9x1.75% 24.01B
90.47x34.14x74.44x0.42% 23.57B
Average 31.02x 6.47x 20.36x 1.35% 35.61B
Weighted average by Cap. 30.70x 6.01x 19.76x 1.23%

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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