Pigeon (FRA:9N3) EV-to-EBIT: 13.86 (As of Sep. 16, 2026) — 32% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:9N3 Pigeon Corp FRA:9N3
82 GF Score
Price €10.90
GF Value €9.54
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is Pigeon EV-to-EBIT?

Pigeon FRA:9N3 82 EV-to-EBIT is 13.86 as of Sep. 16, 2026, which is 32% below its 10-year median of 20.52. GuruFocus rates FRA:9N3 with a GF Score™ of 82/100 and a GF Value™ of €9.54 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,560 Consumer Packaged Goods companies, Pigeon ranks worse than 56.6% on this metric.

EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Pigeon's Enterprise Value is €1,112.2 Mil. Pigeon's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €80.2 Mil. Therefore, Pigeon's EV-to-EBIT for today is 13.86.

The historical rank and industry rank for Pigeon's EV-to-EBIT or its related term are showing as below:

FRA:9N3' s EV-to-EBIT Range Over the Past 10 Years
Min: 10.3   Med: 20.52   Max: 37.21
Current: 13.72

During the past 13 years, the highest EV-to-EBIT of Pigeon was 37.21. The lowest was 10.30. And the median was 20.52.

FRA:9N3's EV-to-EBIT is ranked worse than
56.6% of 1560 companies
in the Consumer Packaged Goods industry
Industry Median: 12.235 vs FRA:9N3: 13.72

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %. Pigeon's Enterprise Value for the quarter that ended in Jun. 2026 was €1,183.2 Mil. Pigeon's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €80.2 Mil. Pigeon's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 6.78%.


Pigeon  (FRA:9N3) EV-to-EBIT Explanation

This is a more accurate valuation of companies' operation because it considers the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %.

Pigeon's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

Earnings Yield (Joel Greenblatt) % (Q: Jun. 2026 ) =EBIT / Enterprise Value (Q: Jun. 2026 )
=80.245/1183.1846765447
=6.78 %

Pigeon's Enterprise Value for the quarter that ended in Jun. 2026 was €1,183.2 Mil.
Pigeon's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €80.2 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Pigeon EV-to-EBIT Related Terms


Pigeon EV-to-EBIT Historical Data

* Premium members only.

The historical data trend for Pigeon's EV-to-EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Pigeon EV-to-EBIT Chart

Pigeon Annual Data
Trend Jan15 Jan16 Jan17 Jan18 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 16.95 17.14 14.41 10.97 10.83

Pigeon Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
EV-to-EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.93 11.75 10.80 11.88 14.67

FRA:9N3 vs PG, CL, EL: EV-to-EBIT Comparison

For the Household & Personal Products subindustry, Pigeon's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Pigeon EV-to-EBIT vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Pigeon's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Pigeon's EV-to-EBIT falls into.


FRA:9N3
82GF Score
Pigeon Corp FRA:9N3
EV-to-EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pigeon EV-to-EBIT Calculation

Pigeon's EV-to-EBIT for today is calculated as:

EV-to-EBIT=Enterprise Value (Today)/EBIT (TTM)
=1112.217/80.245
=13.86

Pigeon's current Enterprise Value is €1,112.2 Mil.
Pigeon's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €80.2 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EV-to-EBIT →
What does a EV-to-EBIT of 13.86 mean?
Pigeon (FRA:9N3) has a EV-to-EBIT of 13.86 as of Sep. 16, 2026. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Pigeon and its competitors. This is 32% below median its historical median of 20.52. Over the past decade, Pigeon's EV-to-EBIT has ranged from 10.30 to 37.21. According to the industry distribution chart, Pigeon ranks #883 out of 1560 companies in the Consumer Packaged Goods industry, placing it in the top 56.6%.
Is Pigeon's EV-to-EBIT too high?
Pigeon's current EV-to-EBIT of 13.86 is 32% below median its 10-year median of 20.52. Over the past 10 years, this metric has ranged from a low of 10.30 to a high of 37.21. The Consumer Packaged Goods industry median EV-to-EBIT is 12.24. Pigeon's value of 13.86 is 13.3% above this industry median. Based on the distribution chart, Pigeon ranks #883 out of 1560 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Pigeon has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pigeon's EV-to-EBIT compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Pigeon ranks #883 out of 1560 companies for EV-to-EBIT. This places Pigeon in the lower half of its industry. The industry median EV-to-EBIT is 12.24. Pigeon's value of 13.86 is 13.3% above this benchmark. Historically, Pigeon's own EV-to-EBIT has ranged from 10.30 to 37.21 over the past decade. While the company's 10-year median is 20.52 vs. the industry median of 12.24, Pigeon has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBIT for a Consumer Packaged Goods company?
The median EV-to-EBIT among Consumer Packaged Goods companies is 12.24, based on 1,560 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBIT significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Pigeon's current EV-to-EBIT of 13.86 is 13.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBIT mean?
A high EV-to-EBIT can signal that a stock is expensive relative to its fundamentals. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Pigeon and its competitors. For the Consumer Packaged Goods industry, the median EV-to-EBIT is 12.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pigeon's current EV-to-EBIT is 13.86, which is 32% below median its own 10-year median of 20.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pigeon stock overvalued right now?
Based on GuruFocus' analysis, Pigeon (FRA:9N3) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.54, compared to a current price of €10.90 — trading 14.3% above its estimated fair value. The current EV-to-EBIT is 13.86, which is 32% below median its 10-year median of 20.52 and 13.3% above the Consumer Packaged Goods industry median of 12.24. Pigeon's overall GF Score™ is 82/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBIT calculated?
EV-to-EBIT is calculated from a company's financial statements. For Pigeon (FRA:9N3), the current EV-to-EBIT is 13.86 as of Sep. 16, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Pigeon (FRA:9N3) Overvalued in 2026?

Based on GuruFocus' analysis, Pigeon stock appears to be overvalued. The current stock price of €10.90 is trading 14.3% above its estimated GF Value™ of €9.54. GuruFocus considers Pigeon to be Modestly Overvalued.

Key valuation signals for FRA:9N3:

  • EV-to-EBIT: 13.86 (32% below median its 10-year median of 20.52)
  • GF Value™: €9.54 vs. price of €10.90 (14.3% above fair value)
  • GF Score™: 82/100 with 2 warning signs
  • Industry Position: 13.3% above the Consumer Packaged Goods median (#883 of 1560)

No single metric tells the full story. See the FRA:9N3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pigeon Business Description

Other Exchanges PGENY:USA7956:Japan
Address 4-4, Nihonbashi-Hisamatsucho, Chuo-ku, Tokyo, JPN, 103-8480
Pigeon Corp is a Japanese household and personal product company that manufactures and sells baby- and child-care and maternity products, women's care items, and home healthcare products, among others. The business is divided into a domestic baby and mother care business, child-rearing support services, a healthcare and nursing care business, and overseas Business, and a Chinese business. The overseas business includes Asia (South Korea, Singapore, and India, among others), the Middle East (United Arab Emirates, among others), North America (the U.S. and Canada), and others (South Africa, Germany, and South America).
82GF Score

Get the complete analysis for FRA:9N3

EV-to-EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€10.90
Price
€9.54
GF Value