DeNA Co Ltd
TSE:2432

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DeNA Co Ltd
TSE:2432
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Price: 2 599.5 JPY 1.13%
Market Cap: ¥289.5B

EV/S

1.3
Current
17%
More Expensive
vs 3-y average of 1.1

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

EV/S
1.3
=
Enterprise Value
¥202.7B
/
Revenue
¥161.7B

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

EV/S
1.3
=
Enterprise Value
¥202.7B
/
Revenue
¥161.7B

Valuation Scenarios

DeNA Co Ltd is trading above its 3-year average

If EV/S returns to its 3-Year Average (1.1), the stock would be worth ¥2 216.52 (15% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-15%
Maximum Upside
+32%
Average Downside
1%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 1.3 ¥2 599.5
0%
3-Year Average 1.1 ¥2 216.52
-15%
5-Year Average 1.2 ¥2 397.44
-8%
Industry Average 1.7 ¥3 433.18
+32%
Country Average 1.1 ¥2 261.69
-13%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
¥202.7B
/
Jan 2026
¥161.7B
=
1.3
Current
¥202.7B
/
Mar 2026
¥157.8B
=
1.3
Forward
¥202.7B
/
Mar 2027
¥149.1B
=
1.4
Forward
¥202.7B
/
Mar 2028
¥140.7B
=
1.4
Forward

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

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
P/E Multiple
Earnings Growth PEG
JP
DeNA Co Ltd
TSE:2432
Average P/E: 30.6
11.5
-5%
N/A
US
A
Activision Blizzard Inc
LSE:0H8X
34.2
36%
1
CN
NetEase Inc
NASDAQ:NTES
14.6
14%
1
JP
Nintendo Co Ltd
TSE:7974
23
26%
0.9
US
Electronic Arts Inc
NASDAQ:EA
74.5
32%
2.3
SG
Sea Ltd
NYSE:SE
29.7
27%
1.1
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -37.3 N/A N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -9.9 N/A N/A
CN
Z
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
34
104%
0.3
JP
Konami Holdings Corp
TSE:9766
31.2
22%
1.4
JP
N
Nexon Co Ltd
TSE:3659
23
18%
1.3

Market Distribution

In line with most companies in Japan
Percentile
55th
Based on 5 140 companies
55th percentile
1.3
Low
0 — 0.7
Typical Range
0.7 — 2
High
2 —
Distribution Statistics
Japan
Min 0
30th Percentile 0.7
Median 1.1
70th Percentile 2
Max 12 107 466

DeNA Co Ltd
Glance View

Market Cap
289.5B JPY
Industry
Media

Nestled in the bustling tech hub of Tokyo, DeNA Co., Ltd. has carved out a notable niche in the ever-evolving digital landscape. Originally founded in 1999, the company emerged as a player in the mobile internet scene with its e-commerce platform, Bidders. Over time, DeNA astutely shifted focus, aligning with the rising trend of mobile gaming. This pivot became the cornerstone of its growth, launching them into prominence by developing a vast portfolio of popular titles. Games like "Mobage" leveraged DeNA's strengths, creating a social gaming platform that captivated millions globally. The company's ability to adapt and innovate in mobile gaming fueled its revenue through in-app purchases and advertising, allowing users to play for free while offering enticing game enhancements for purchase. However, the narrative of DeNA's success goes beyond gaming. The company diversified its revenue streams by venturing into sectors like healthcare, automotive, and sports. In healthcare, its subsidiary MYCODE offers personal genome analysis, teasing the potential of personalized medicine. In the automotive realm, DeNA contracts with automakers, leveraging its technology for autonomous driving services. Its strategic investments, like partnering with MLB's Yokohama DeNA BayStars, illustrate a keen eye for brand expansion and fan engagement. Thus, DeNA's story is one of adaptive transformation, effectively monetizing digital experiences while bravely exploring new frontiers to ensure its continued relevance and profitability in a rapidly changing world.

Intrinsic Value
2 928.63 JPY
Undervaluation 11%
Intrinsic Value
Price ¥2 599.5
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