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Santen Pharmaceutical Co Ltd
TSE:4536

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Santen Pharmaceutical Co Ltd
TSE:4536
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Price: 1 752 JPY -1.13% Market Closed
Market Cap: ¥564.6B

EV/EBIT

13.4
Current
14%
More Expensive
vs 3-y average of 11.7

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
13.4
=
Enterprise Value
¥534.4B
/
EBIT
¥39.9B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
13.4
=
Enterprise Value
¥534.4B
/
EBIT
¥39.9B

Valuation Scenarios

Santen Pharmaceutical Co Ltd is trading above its 3-year average

If EV/EBIT returns to its 3-Year Average (11.7), the stock would be worth ¥1 534.85 (12% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-12%
Maximum Upside
+31%
Average Upside
3%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 13.4 ¥1 752
0%
3-Year Average 11.7 ¥1 534.85
-12%
5-Year Average 12.3 ¥1 611.66
-8%
Industry Average 17.5 ¥2 286.93
+31%
Country Average 13.6 ¥1 785.18
+2%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
¥534.4B
/
Jan 2026
¥39.9B
=
13.4
Current
¥534.4B
/
Mar 2026
¥55.6B
=
9.6
Forward
¥534.4B
/
Mar 2027
¥59.6B
=
9
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
JP
Santen Pharmaceutical Co Ltd
TSE:4536
563.6B JPY 13.4 18.4
US
Eli Lilly and Co
NYSE:LLY
869.1B USD 30.4 42.1
US
Johnson & Johnson
NYSE:JNJ
555.5B USD 21.7 26.4
CH
Roche Holding AG
SIX:ROG
248.4B CHF 13.2 19.8
UK
AstraZeneca PLC
LSE:AZN
231.9B GBP 23.4 30
US
Merck & Co Inc
NYSE:MRK
289.8B USD 12 15.9
CH
Novartis AG
SIX:NOVN
228B CHF 16.2 20.3
IE
Endo International PLC
LSE:0Y5F
244.4B USD 970 -83.6
DK
Novo Nordisk A/S
CSE:NOVO B
1.2T DKK 9.7 11.2
US
Pfizer Inc
NYSE:PFE
156.5B USD 10.3 20.1
US
Bristol-Myers Squibb Co
NYSE:BMY
119B USD 8.8 16.9
P/E Multiple
Earnings Growth PEG
JP
Santen Pharmaceutical Co Ltd
TSE:4536
Average P/E: 22.1
18.4
5%
3.7
US
Eli Lilly and Co
NYSE:LLY
42.1
32%
1.3
US
Johnson & Johnson
NYSE:JNJ
26.4
8%
3.3
CH
Roche Holding AG
SIX:ROG
19.8
14%
1.4
UK
AstraZeneca PLC
LSE:AZN
30
25%
1.2
US
Merck & Co Inc
NYSE:MRK
15.9
14%
1.1
CH
Novartis AG
SIX:NOVN
20.3
14%
1.5
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -83.6 N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
11.2
0%
N/A
US
Pfizer Inc
NYSE:PFE
20.1
22%
0.9
US
Bristol-Myers Squibb Co
NYSE:BMY
16.9
16%
1.1

Market Distribution

In line with most companies in Japan
Percentile
49th
Based on 4 801 companies
49th percentile
13.4
Low
0.1 — 9.8
Typical Range
9.8 — 18.1
High
18.1 —
Distribution Statistics
Japan
Min 0.1
30th Percentile 9.8
Median 13.6
70th Percentile 18.1
Max 414 821 439

Santen Pharmaceutical Co Ltd
Glance View

Santen Pharmaceutical Co., Ltd., a cornerstone of Japan's robust pharmaceutical industry, has been relentlessly focused on improving eye health worldwide. Founded in 1890, the company began as a modest medicine retailer in Osaka, but over the decades, it has skillfully navigated the evolving healthcare landscape to become a global leader in ophthalmology. Today, Santen's enterprise is intricately woven with innovation and specialization, stretching its influence far beyond its Japanese roots. Its main thrust lies in the research, development, and commercialization of ophthalmic products tackling a comprehensive range of eye disorders, from dry eyes to age-related macular degeneration and glaucoma. By investing significantly in R&D, Santen maintains a robust pipeline of new treatments that continuously feeds into its growing portfolio, ensuring its offerings are at the forefront of medical advancements. Santen's business strategy thrives on leveraging its scientific expertise to not only create but also efficiently bring products to market across various continents. It operates through a well-crafted distribution network that spans Asia, Europe, and North America, tailoring its marketing and regulatory approaches to suit regional healthcare environments. This global footprint allows Santen to capture diverse markets, each with unique demands, thereby enhancing revenue streams. The firm's operational model also includes strategic partnerships and acquisitions, enhancing its research capabilities and expanding its market share to sustain profitability. Santen generates revenue primarily through the sale of innovative ophthalmic prescription drugs and over-the-counter products, supported by its strong relationships with healthcare professionals and continued expansion into emerging markets. The company’s focused strategy and commitment to eye health solutions position it as an indispensable player in the global healthcare industry.

Intrinsic Value
1 945.36 JPY
Undervaluation 10%
Intrinsic Value
Price ¥1 752
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