Company Valuation: Toei Animation Co.,Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 484,650 415,940 538,081 633,878 633,939 478,501 - -
Change - -14.18% 29.37% 17.8% 0.01% -24.52% - -
Enterprise Value (EV) 1 441,563 355,636 471,122 554,786 551,373 384,971 370,815 343,543
Change - -19.46% 32.47% 17.76% -0.62% -30.18% -3.68% -7.35%
P/E ratio 43.8x 32.4x 25.7x 33.7x 26.8x 21.2x 21.1x 17.6x
PBR 5.69x 4.33x 4.7x 4.81x 4.14x 3.1x 2.56x 2.37x
PEG - 2x 0.4x -3.3x 1x 3.43x -9.58x 0.9x
Capitalization / Revenue 9.39x 7.29x 6.15x 7.15x 6.29x 5.66x 4.71x 4.13x
EV / Revenue 8.56x 6.24x 5.39x 6.26x 5.47x 4.21x 3.65x 2.97x
EV / EBITDA 27.4x 19x 16.1x 23x 16.6x 12.4x 11.7x 8.71x
EV / EBIT 28.5x 19.6x 16.4x 23.7x 17x 12.7x 12x 9.35x
EV / FCF 52.9x -1,104x 38.3x 47.2x 25.5x 18x 18.6x 13.1x
FCF Yield 1.89% -0.09% 2.61% 2.12% 3.92% 5.55% 5.39% 7.65%
Dividend per Share 2 14 18.8 31 31 41 44 45.49 53.26
Rate of return 0.59% 0.92% 1.18% 1% 1.32% 1.7% 1.94% 2.27%
EPS 2 54.12 62.69 102.2 91.93 115.5 122.7 110.9 132.7
Distribution rate 25.9% 30% 30.3% 33.7% 35.5% 35.9% 41% 40.1%
Net sales 1 51,595 57,020 87,457 88,654 100,836 93,669 101,608 115,803
EBITDA 1 16,104 18,709 29,272 24,154 33,214 31,155 31,613 39,424
EBIT 1 15,503 18,107 28,669 23,364 32,432 31,018 30,896 36,746
Net income 1 11,067 12,820 20,900 18,795 23,623 25,070 22,667 27,116
Net Debt 1 -43,087 -60,304 -66,959 -79,092 -82,566 -93,530 -107,686 -134,958
Reference price 2 2,370.00 2,034.00 2,632.00 3,100.00 3,100.00 2,342.00 2,342.00 2,342.00
Nbr of stocks (in thousands) 204,494 204,493 204,438 204,477 204,496 204,313 - -
Announcement Date 5/13/21 5/12/22 5/11/23 5/13/24 5/16/25 5/13/26 - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.65x4.21x12.36x1.84% 2.99B
48.85x3.84x36.02x1.59% 17.81B
21.05x2.68x11.33x2.6% 15.61B
45.28x3.37x8.5x1.51% 15.26B
-160.84x0.94x7.61x2.3% 3.01B
29.85x12.06x39.22x2.14% 2.52B
17.22x1.42x6.49x0.31% 2.16B
30.69x4.97x11.46x-.--% 2.14B
Average 6.59x 4.19x 16.62x 1.54% 7.69B
Weighted average by Cap. 26.74x 3.60x 18.62x 1.8%

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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