Company Valuation: T.RAD Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 14,767 16,324 15,303 25,750 23,470 43,875
Change - 10.55% -6.26% 68.27% -8.85% 86.94%
Enterprise Value (EV) 1 19,221 22,226 27,749 30,515 28,295 49,494
Change - 15.64% 24.85% 9.97% -7.27% 74.92%
P/E -11.9x 4.84x -4.26x 20.7x 5.59x 5.25x
PBR 0.36x 0.37x 0.36x 0.57x 0.48x 0.83x
PEG - -0x 0x -0x 0x 0x
Capitalization / Revenue 0.13x 0.12x 0.1x 0.16x 0.15x 0.27x
EV / Revenue 0.17x 0.17x 0.19x 0.19x 0.18x 0.3x
EV / EBITDA 2.5x 2.04x 3.75x 2.89x 2.18x 2.93x
EV / EBIT 15.2x 4.41x 26.4x 7.01x 3.87x 4.4x
EV / FCF 7.91x 74.7x -7.62x 4.03x 33.6x 14.5x
FCF Yield 12.6% 1.34% -13.1% 24.8% 2.98% 6.9%
Dividend per Share 2 - 16 8 18 24 56
Rate of return - 6.41% 3.41% 4.57% 6.57% 7.23%
EPS 2 -17.15 51.59 -55.08 19.05 65.38 147.8
Distribution rate - 31% -14.5% 94.5% 36.7% 37.9%
Net sales 1 113,046 133,581 149,413 158,659 159,235 162,278
EBITDA 1 7,685 10,878 7,399 10,570 12,972 16,900
EBIT 1 1,265 5,042 1,050 4,351 7,317 11,250
Net income 1 -1,239 3,600 -3,595 1,245 4,250 8,765
Net Debt 1 4,454 5,902 12,446 4,765 4,825 5,619
Reference price 2 204.10 249.80 234.60 393.50 365.50 775.00
Nbr of stocks (in thousands) 72,351 65,350 65,230 65,437 64,212 56,613
Announcement Date 29/6/21 28/6/22 27/6/23 21/6/24 17/6/25 5/6/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 534M
22.92x1.54x11.94x1.64% 48.73B
17.24x0.7x5.17x3.38% 34.49B
12.14x0.65x5.41x3.75% 32.44B
10.36x0.63x8.23x1.42% 29.3B
13.36x2.42x8.48x4.37% 19.63B
10.95x0.51x5.02x2.99% 18.04B
12.12x1.06x6.03x4.14% 16.58B
27.22x1.09x11.34x0.59% 15.55B
29.46x2.73x16.22x1.03% 13.99B
Average 17.31x 1.26x 8.65x 2.59% 22.93B
Weighted average by Cap. 17.07x 1.17x 8.47x 2.59%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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