Company Valuation: Glory Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 125,920 162,308 157,942 146,596 216,304 233,913 - -
Change - 28.9% -2.69% -7.18% 47.55% 8.14% - -
Enterprise Value (EV) 1 128,478 209,293 220,192 180,614 260,258 261,713 215,813 204,213
Change - 62.9% 5.21% -17.97% 44.1% 0.56% -17.54% -5.38%
P/E 19.2x -17.3x 5.32x 9.13x 22.3x 18.4x 10.2x 9.45x
PBR 0.61x 0.83x 0.69x 0.62x 0.96x 1.01x 0.99x 0.92x
PEG - 0x -0x -0.2x -0.6x 0.5x 0.1x 1.16x
Capitalization / Revenue 0.56x 0.63x 0.42x 0.4x 0.64x 0.65x 0.62x 0.6x
EV / Revenue 0.57x 0.82x 0.59x 0.49x 0.77x 0.72x 0.57x 0.52x
EV / EBITDA 4.67x 17x 3.41x 3.58x 5.19x 7.21x 3.8x 3.45x
EV / EBIT 12.5x 401x 4.29x 5.14x 11.1x 8.18x 5.86x 5.18x
EV / FCF -8.3x -29.4x 26.6x 4.44x 6.8x 10.4x 13.6x 10.7x
FCF Yield -12.1% -3.4% 3.76% 22.5% 14.7% 9.62% 7.37% 9.35%
Dividend per Share 2 68 68 106 108 112 160 131 133
Rate of return 3.28% 2.35% 3.73% 4.11% 2.82% 3.63% 2.97% 3.02%
EPS 2 107.6 -167 533.6 287.8 178.4 239 431.2 466.2
Distribution rate 63.2% -40.7% 19.9% 37.5% 62.8% 66.9% 30.4% 28.5%
Net sales 1 226,562 255,857 372,478 369,017 338,900 361,650 379,900 392,250
EBITDA 1 27,503 12,284 64,656 50,512 50,146 36,300 56,850 59,200
EBIT 1 10,297 522 51,276 35,173 23,400 32,000 36,850 39,450
Net income 1 6,509 -9,538 29,674 16,053 18,200 19,850 22,500 24,350
Net Debt 1 2,558 46,985 62,250 34,018 43,954 27,800 -18,100 -29,700
Reference price 2 2,072.00 2,895.00 2,840.00 2,626.00 3,975.00 4,407.00 4,407.00 4,407.00
Nbr of stocks (in thousands) 60,772 56,065 55,613 55,825 54,416 53,078 - -
Announcement Date 5/12/22 5/11/23 5/10/24 5/13/25 5/15/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30.61x5.34x19.37x0.84% 120B
34.36x5.4x20.49x1.56% 96.45B
42.65x8.64x25.3x-.--% 61.98B
26.86x3.07x17.77x0.78% 58.68B
39.24x6.1x26.94x1.98% 56.84B
26.91x4.95x17.32x2.23% 35.29B
29.71x3.96x14.96x0.11% 29.14B
20.65x1.76x12.72x2.27% 30.04B
20.66x3.57x11.42x1.48% 28.85B
Average 30.18x 4.76x 18.48x 1.25% 57.53B
Weighted average by Cap. 31.84x 5.16x 19.72x 1.16%

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