Company Valuation: Fujitsu Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,184,037 3,618,813 3,359,071 4,579,895 5,244,938 6,382,254 - -
Change - 13.65% -7.18% 36.34% 14.52% 21.68% - -
Enterprise Value (EV) 1 3,018,530 3,420,112 3,214,345 4,483,432 5,255,951 6,004,005 6,026,015 5,970,754
Change - 13.3% -6.02% 39.48% 17.23% 14.23% 0.37% -0.92%
P/E ratio 15.8x 19.9x 16.1x 18.4x 24.4x 14.6x 20.8x 17.9x
PBR 2.2x 2.27x 2.12x 2.61x 3.01x 3.26x 3.08x 2.85x
PEG - -2.25x 0.8x 0.8x -2.3x 0x -0.7x 1.1x
Capitalization / Revenue 0.89x 1.01x 0.9x 1.22x 1.48x 1.79x 1.74x 1.68x
EV / Revenue 0.84x 0.95x 0.87x 1.19x 1.48x 1.68x 1.64x 1.57x
EV / EBITDA 6.83x 8.43x 6.24x 13x 12.3x 11.6x 10.6x 9.47x
EV / EBIT 11.3x 15.6x 9.58x 28x 19.8x 16x 14.1x 12.5x
EV / FCF 12.8x 18.1x 18.1x 29.5x 24.5x 17.4x 21.4x 19.1x
FCF Yield 7.83% 5.53% 5.52% 3.39% 4.08% 5.74% 4.68% 5.24%
Dividend per Share 2 20 22 24 26 28 39.17 43.89 46.53
Rate of return 1.25% 1.19% 1.35% 1.04% 0.95% 1.06% 1.19% 1.26%
EPS 2 101.4 92.42 110.8 135.6 120.9 252.4 177 205.6
Distribution rate 19.7% 23.8% 21.7% 19.2% 23.2% 15.5% 24.8% 22.6%
Net sales 1 3,589,700 3,586,800 3,713,700 3,756,000 3,550,116 3,570,199 3,673,150 3,806,214
EBITDA 1 442,152 405,577 514,842 345,824 425,983 519,209 570,972 630,501
EBIT 1 266,300 219,200 335,600 160,200 265,089 374,194 428,147 479,534
Net income 1 202,700 182,600 215,100 254,400 219,807 442,304 303,555 346,407
Net Debt 1 -165,507 -198,701 -144,726 -96,463 11,013 -378,249 -356,239 -411,500
Reference price 2 1,600.00 1,841.50 1,783.50 2,490.00 2,951.00 3,679.00 3,679.00 3,679.00
Nbr of stocks (in thousands) 1,990,023 1,965,144 1,883,415 1,839,315 1,777,342 1,734,780 - -
Announcement Date 28/4/21 28/4/22 27/4/23 25/4/24 24/4/25 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.58x1.68x11.56x1.06% 40.1B
23.43x3.85x13.71x2.69% 236B
14.43x1.54x8.08x3.35% 119B
18.36x3.35x12.36x4.63% 100B
18.25x3.1x10.62x3.27% 80.69B
21.32x5.51x13.6x2.68% 65.13B
18.82x2.79x11.87x3.75% 57.37B
-51.72x7.85x51.06x-.--% 49.57B
22.86x2.81x13.53x3.91% 42.17B
23.17x1.56x11.14x0.75% 36.12B
Average 12.35x 3.41x 15.75x 2.61% 82.6B
Weighted average by Cap. 15.54x 3.42x 14.31x 2.89%

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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