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.
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.
DawnTSE:2303 +0.73%82 EV-to-EBITDA is 9.59 as of Sep. 05, 2026, which is 35% below its 10-year median of 14.73. GuruFocus rates TSE:2303 with a GF Score™ of 82/100 and a GF Value™ of 円1,347.45 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,958 Software companies, Dawn ranks better than 54.8% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Dawn's enterprise value is 円6,335 Mil.
Dawn's EBITDA for the trailing twelve months (TTM) ended in May. 2026 was 円661 Mil. Therefore, Dawn's EV-to-EBITDA for today is 9.59.
The historical rank and industry rank for Dawn's EV-to-EBITDA or its related term are showing as below:
TSE:2303'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 7.41 Med: 14.73 Max: 58.14
Current: 9.59
During the past 13 years, the highest EV-to-EBITDA of Dawn was 58.14. The lowest was 7.41. And the median was 14.73.
TSE:2303's EV-to-EBITDA is ranked better than 54.8% of 1958
companies
in the Software industry
Industry Median: 10.44
vs TSE:2303: 9.59
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
As of today (2026-09-05), Dawn's stock price is 円1377.00.
Dawn's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in May. 2026 was 円78.020. Therefore, Dawn's PE Ratio (TTM) for today is 17.65.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Dawn's share price for today is 円1377.00.
Dawn's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in May. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円78.020.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Dawn's EV-to-EBITDA 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.
TSE:2303 vs CRM, SHOP, UBER: EV-to-EBITDA Comparison
For the Software - Application subindustry, Dawn's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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.
Dawn EV-to-EBITDA vs Software Industry
For the Software industry and Technology sector, Dawn's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Dawn's EV-to-EBITDA falls into.
Dawn's current Enterprise Value is 円6,335 Mil.
Dawn's EBITDA for the trailing twelve months (TTM) ended in May. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円661 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.
Dawn (TSE:2303) has a EV-to-EBITDA of 9.59 as of Sep. 05, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Dawn. This is 35% below median its historical median of 14.73. Over the past decade, Dawn's EV-to-EBITDA has ranged from 7.41 to 58.14. According to the industry distribution chart, Dawn ranks #885 out of 1958 companies in the Software industry, placing it in the top 45.2%.
Is Dawn's EV-to-EBITDA too high?
Dawn's current EV-to-EBITDA of 9.59 is 35% below median its 10-year median of 14.73. Over the past 10 years, this metric has ranged from a low of 7.41 to a high of 58.14. The Software industry median EV-to-EBITDA is 10.44. Dawn's value of 9.59 is 8.1% below this industry median. Based on the distribution chart, Dawn ranks #885 out of 1958 companies in the Software industry, which is above the industry midpoint. Overall, Dawn has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Dawn's EV-to-EBITDA compare to CRM and SHOP?
According to the Software industry distribution chart, Dawn ranks #885 out of 1958 companies for EV-to-EBITDA. This puts Dawn in the upper half of its industry. The industry median EV-to-EBITDA is 10.44. Dawn's value of 9.59 is 8.1% below this benchmark. Historically, Dawn's own EV-to-EBITDA has ranged from 7.41 to 58.14 over the past decade. While the company's 10-year median is 14.73 vs. the industry median of 10.44, Dawn has consistently been below 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-EBITDA for a Software company?
The median EV-to-EBITDA among Software companies is 10.44, based on 1,958 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Dawn's current EV-to-EBITDA of 9.59 is 8.1% below 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-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Dawn. For the Software industry, the median EV-to-EBITDA is 10.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dawn's current EV-to-EBITDA is 9.59, which is 35% below median its own 10-year median of 14.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dawn stock overvalued right now?
Based on GuruFocus' analysis, Dawn (TSE:2303) is currently considered Fairly Valued. The stock's GF Value™ is 円1,347.45, compared to a current price of 円1,377.00 — trading 2.2% above its estimated fair value. The current EV-to-EBITDA is 9.59, which is 35% below median its 10-year median of 14.73 and 8.1% below the Software industry median of 10.44. Dawn's overall GF Score™ is 82/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Dawn (TSE:2303), the current EV-to-EBITDA is 9.59 as of Sep. 05, 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 Dawn (TSE:2303) Overvalued in 2026?
Based on GuruFocus' analysis, Dawn stock appears to be overvalued.
The current stock price of 円1,377.00 is trading 2.2% above its estimated GF Value™ of 円1,347.45.
GuruFocus considers Dawn to be Fairly Valued.
Key valuation signals for TSE:2303:
EV-to-EBITDA: 9.59 (35% below median its 10-year median of 14.73)
GF Value™: 円1,347.45 vs. price of 円1,377.00 (2.2% above fair value)
Industry Position: 8.1% below the Software median (#885 of 1958)
No single metric tells the full story. See the TSE:2303 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dawn Corp is engaged in service building services such as FAQ Q and A location information service ASP, GPS map, GIS application development consulting contract research and development and sales of core GIS engine. It is a research and development company specialized in geographic information systems. Its system is used in the security and security of disaster prevention areas such as local governments, the crime prevention area for disaster prevention and the social infrastructure area of private enterprises.
82GF Score
Get the complete analysis for TSE:2303
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:2303 has been successfully added to your 
