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Advantest Corp
XMUN:VAN

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Advantest Corp
XMUN:VAN
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Price: 131.18 EUR -3.03% Market Closed
Market Cap: €96.8B

EV/EBITDA

41.2
Current
49%
More Expensive
vs 3-y median of 27.6

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

EV/EBITDA
41.2
=
Enterprise Value
€20.5T
/
EBITDA
¥434.9B

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

EV/EBITDA
41.2
=
Enterprise Value
€20.5T
/
EBITDA
¥434.9B

Valuation Scenarios

Advantest Corp is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (27.6), the stock would be worth €87.94 (33% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-79%
Maximum Upside
No Upside Scenarios
Average Downside
59%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 41.2 €131.18
0%
3-Year Average 27.6 €87.94
-33%
5-Year Average 17.2 €54.66
-58%
Industry Average 14.3 €45.49
-65%
Country Average 8.7 €27.57
-79%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€20.5T
/
Jan 2026
¥434.9B
=
41.2
Current
€20.5T
/
Mar 2026
¥471.1B
=
43.4
Forward
€20.5T
/
Mar 2027
¥599.2B
=
34.1
Forward
€20.5T
/
Mar 2028
¥683.8B
=
29.9
Forward

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

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
JP
Advantest Corp
XMUN:VAN
18.2T EUR 41.2 63.3
NL
ASML Holding NV
AEX:ASML
463.3B EUR 36.8 48.2
US
Lam Research Corp
NASDAQ:LRCX
281.2B USD 38 45.2
US
Applied Materials Inc
NASDAQ:AMAT
277.3B USD 31.1 35.4
US
KLA Corp
NASDAQ:KLAC
194.4B USD 33.4 42.7
US
Brooks Automation Inc
LSE:0HQ1
193.3B USD 4 832.9 -3 341.1
JP
Tokyo Electron Ltd
TSE:8035
18.5T JPY 26.8 36.7
JP
Disco Corp
TSE:6146
7.7T JPY 38.9 58.4
CN
NAURA Technology Group Co Ltd
SZSE:002371
329.3B CNY 48.4 53.1
US
Teradyne Inc
NASDAQ:TER
46.8B USD 57.2 84.5
NL
ASM International NV
AEX:ASM
34B EUR 27.6 43.2
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
JP
Advantest Corp
XMUN:VAN
Average EV/EBITDA: 473.8
41.2
35%
1.2
NL
ASML Holding NV
AEX:ASML
36.8
21%
1.8
US
Lam Research Corp
NASDAQ:LRCX
38
26%
1.5
US
Applied Materials Inc
NASDAQ:AMAT
31.1
18%
1.7
US
KLA Corp
NASDAQ:KLAC
33.4
17%
2
US
B
Brooks Automation Inc
LSE:0HQ1
4 832.9
48%
100.7
JP
Tokyo Electron Ltd
TSE:8035
26.8
12%
2.2
JP
Disco Corp
TSE:6146
38.9
13%
3
CN
NAURA Technology Group Co Ltd
SZSE:002371
48.4
32%
1.5
US
Teradyne Inc
NASDAQ:TER
57.2
39%
1.5
NL
ASM International NV
AEX:ASM
27.6
16%
1.7
P/E Multiple
Earnings Growth PEG
JP
Advantest Corp
XMUN:VAN
Average P/E: 51.1
63.3
47%
1.3
NL
ASML Holding NV
AEX:ASML
48.2
23%
2.1
US
Lam Research Corp
NASDAQ:LRCX
45.2
24%
1.9
US
Applied Materials Inc
NASDAQ:AMAT
35.4
19%
1.9
US
KLA Corp
NASDAQ:KLAC
42.7
20%
2.1
US
B
Brooks Automation Inc
LSE:0HQ1
Negative Multiple: -3 341.1 N/A N/A
JP
Tokyo Electron Ltd
TSE:8035
36.7
12%
3.1
JP
Disco Corp
TSE:6146
58.4
15%
3.9
CN
NAURA Technology Group Co Ltd
SZSE:002371
53.1
30%
1.8
US
Teradyne Inc
NASDAQ:TER
84.5
44%
1.9
NL
ASM International NV
AEX:ASM
43.2
17%
2.5

Market Distribution

Lower than 100% of companies in Japan
Percentile
0th
Based on 5 051 companies
0th percentile
0.2
Low
0.1 — 6.7
Typical Range
6.7 — 12.2
High
12.2 —
Distribution Statistics
Japan
Min 0.1
30th Percentile 6.7
Median 8.7
70th Percentile 12.2
Max 214 699 781.2

Advantest Corp
Glance View

In the bustling world of semiconductor production, Advantest Corp. has carved out a significant niche for itself as a leading provider of semiconductor test equipment. Founded in Japan’s capital, Tokyo, Advantest has risen to prominence by arming chip manufacturers with the essential tools required to ensure their products meet rigorous standards before reaching the market. The company's core business surrounds the design, production, and marketing of automatic test equipment (ATE) for semiconductors, which are indispensable in verifying the performance and reliability of integrated circuits. As the demand for electronics continues to surge globally, fueled by sectors such as mobile technology, automotive electronics, and data centers, Advantest’s role as a gatekeeper in semiconductor quality remains ever crucial. Advantest's financial model thrives on the backbone of innovation and cutting-edge technology. The firm invests heavily in research and development, continuously seeking advancements that will speed up testing times and reduce costs, thereby providing a competitive edge to their clients in the semiconductor industry. Revenue streams primarily flow from the sale of these advanced testing machines, which are crucial for tech giants as they race to shrink chip sizes while increasing computing power. With its global presence, Advantest not only supplies these high-tech tools but also offers associated services and support, further solidifying its relationships within the intricate semiconductor supply chain, ensuring that as technology evolves, so does their foothold in the marketplace.

VAN Intrinsic Value
43.76 EUR
Overvaluation 67%
Intrinsic Value
Price
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