Company Valuation: Takashimaya Company, Limited

Data adjusted to current consolidation scope
Fiscal Period: February 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 187,241 299,060 355,526 373,602 579,875 620,331 - -
Change - 59.72% 18.88% 5.08% 55.21% 6.98% - -
Enterprise Value (EV) 1 398,803 512,026 606,586 624,538 915,158 891,727 882,570 871,104
Change - 28.39% 18.47% 2.96% 46.53% -2.56% -1.03% -1.3%
P/E 34.9x 11.2x 11.2x 9.75x -72.1x 15.5x 15.1x 14.4x
PBR 0.47x 0.72x 0.78x 0.79x 1.29x 1.3x 1.22x 1.16x
PEG - 0x 0.6x 0.4x 1x -0x 7.38x 2.73x
Capitalization / Revenue 0.25x 0.67x 0.76x 0.75x 1.18x 1.22x 1.19x 1.17x
EV / Revenue 0.52x 1.15x 1.3x 1.25x 1.86x 1.76x 1.7x 1.64x
EV / EBITDA 11.1x 7.75x 7.54x 6.89x 10.4x 9.39x 8.94x 8.51x
EV / EBIT 97x 15.7x 13.2x 10.9x 17.1x 14.9x 14.2x 13.4x
EV / FCF -24.8x 19.9x 28.8x 19x 99.2x 63.7x 33.3x 29x
FCF Yield -4.03% 5.04% 3.47% 5.25% 1.01% 1.57% 3% 3.45%
Dividend per Share 2 12 13 18.5 24.5 34 40.6 44.4 47.8
Rate of return 2.14% 1.37% 1.64% 1.99% 1.72% 1.92% 2.1% 2.26%
EPS 2 16.07 84.89 100.2 126.3 -27.44 137 139.8 147.2
Distribution rate 74.7% 15.3% 18.5% 19.4% -124% 29.6% 31.8% 32.5%
Net sales 1 761,124 443,443 466,134 498,491 492,370 507,883 520,602 531,542
EBITDA 1 35,778 66,099 80,464 90,702 87,672 94,972 98,768 102,417
EBIT 1 4,110 32,519 45,937 57,503 53,516 59,888 62,355 64,956
Net income 1 5,360 27,838 31,620 39,525 -8,194 40,141 40,986 43,115
Net Debt 1 211,562 212,966 251,060 250,936 335,283 271,396 262,239 250,773
Reference price 2 561.50 948.00 1,127.00 1,231.50 1,979.00 2,117.00 2,117.00 2,117.00
Nbr of stocks (in thousands) 333,466 315,464 315,463 303,372 293,014 293,024 - -
Announcement Date 11/4/22 14/4/23 12/4/24 14/4/25 14/4/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.45x1.76x9.39x1.92% 3.94B
16.04x1.42x9.63x3.08% 17.21B
68.59x6.12x32.58x0.17% 15.67B
15.54x1.4x10.25x5.11% 9.98B
13.3x - - 3.87% 6.99B
9.28x0.3x3.58x3.34% 5.8B
46.74x3x20.8x0.71% 4.96B
20.8x2.09x10.25x2.16% 4.14B
11.01x0.84x5.04x3.09% 4.19B
Average 24.09x 2.12x 12.69x 2.61% 8.1B
Weighted average by Cap. 28.51x 2.58x 15.22x 2.55%

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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-40%: Exceptional extension
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