Financials NEC Corporation

Equities

6701

JP3733000008

IT Services & Consulting

Market Closed - Japan Exchange Other stock markets 07:30:00 20/06/2025 BST			5-day change	1st Jan Change
4,094.00 ^JPY	-1.47%		+3.70%	+49.20%

05-30	Shinko Shoji Co., Ltd. agreed to acquire Shimizu Syntec Corporation from NEC Corporation for ¥5.2 billion.	CI
05-30	Shinko Shoji Co Ltd - Notice Concerning Acquisition Of Shares Of Shimizusyntec Corporation (To Make It A Subsidiary)	RE

Projected Income Statement: NEC Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,095,234	2,994,023	3,014,095	3,313,018	3,477,262	3,423,400	3,458,885	3,641,274
Change	-	-3.27%	0.67%	9.92%	4.96%	-1.55%	1.04%	5.27%
EBITDA ¹	293,969	321,372	313,064	353,745	375,712	441,600	483,682	516,546
Change	-	9.32%	-2.59%	12.99%	6.21%	17.54%	9.53%	6.79%
EBIT ¹	127,609	153,759	132,525	170,447	188,012	256,500	306,861	342,057
Change	-	20.49%	-13.81%	28.61%	10.31%	36.43%	19.63%	11.47%
Interest Paid ¹	-15,464	-10,613	-11,367	-17,624	-18,072	-6,623	-5,100	-2,633
Earnings before Tax (EBT) ¹	123,969	157,831	144,436	167,671	185,011	239,771	304,915	347,646
Change	-	27.31%	-8.49%	16.09%	10.34%	29.6%	27.17%	14.01%
Net income ¹	99,967	149,606	141,277	114,500	149,521	175,183	219,933	244,996
Change	-	49.66%	-5.57%	-18.95%	30.59%	17.16%	25.54%	11.4%
Announcement Date	12/05/20	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	726,621	919,620	587,729	727,301	729,406	949,587	651,941	730,864	713,551	917,739	659,669	795,702	813,888	1,043,759	706,542	842,259	844,475	1,083,986	690,296	796,380	835,133	1,076,230	696,231	803,457	846,072	1,119,738
Change	-	26.56%	-36.09%	23.75%	0.29%	30.19%	-31.34%	12.11%	-2.37%	28.62%	-28.12%	20.62%	2.29%	28.24%	-32.31%	19.21%	0.26%	28.36%	-36.32%	15.37%	4.87%	28.87%	-35.31%	15.4%	5.3%	32.35%
EBITDA	75,980	91,660	29,989	69,457	103,187	118,739	46,610	59,890	69,818	136,746	28,862	74,836	91,594	158,453	37,930	83,239	90,027	164,516	44,771	-	-	182,663	-	-	-	-
Change	-	20.64%	-67.28%	131.61%	48.56%	15.07%	-60.75%	28.49%	16.58%	95.86%	-78.89%	159.29%	22.39%	72.99%	-76.06%	119.45%	8.15%	82.74%	-72.79%	-	-	-	-	-	-	-
EBIT ¹	31,050	49,703	-10,274	30,247	62,402	71,384	1,133	22,072	24,057	85,263	-15,341	29,208	43,232	113,348	-8,125	36,120	41,820	118,197	4,540	40,153	81,473	113,659	12,122	53,278	78,758	162,096
Change	-	60.07%	-120.67%	394.4%	106.31%	14.39%	-98.41%	1,848.1%	8.99%	254.42%	-117.99%	290.39%	48.01%	162.19%	-107.17%	544.55%	15.78%	182.63%	-96.16%	784.43%	102.91%	39.5%	-89.34%	339.53%	47.83%	105.81%
Charge d'intérêts	-1,735	-	-2,666	-	-2,118	-	-2,968	-	-2,517	-	-2,041	-	-7,156	-	-2,917	-	-6,579	-	-3,667	-	-	-	-	-	-	-
Earnings before Tax (EBT)	32,719	45,135	-9,616	28,979	66,410	72,058	2,944	22,814	23,327	95,351	-6,647	30,758	33,492	110,068	-2,463	34,440	36,177	116,857	-3,323	-	87,652	-	-	-	-	-
Change	-	37.95%	-121.3%	401.36%	129.17%	8.5%	-95.91%	674.93%	2.25%	308.76%	-106.97%	562.74%	8.89%	228.64%	-102.24%	1,498.29%	5.04%	223.01%	-102.84%	-	-	-	-	-	-	-
Net income ¹	20,034	50,771	-5,002	16,010	43,528	95,070	226	13,116	11,591	116,344	-13,862	17,835	22,396	88,131	-7,388	20,302	21,126	115,481	-5,836	19,296	58,094	90,007	6,284	43,864	48,629	126,021
Change	-	153.42%	-109.85%	420.07%	171.88%	118.41%	-99.76%	5,703.54%	-11.63%	903.74%	-111.91%	228.66%	25.57%	293.51%	-108.38%	374.8%	4.06%	446.63%	-105.05%	430.64%	201.07%	54.93%	-93.02%	598.03%	10.86%	159.15%
Announcement Date	29/01/20	12/05/20	31/07/20	29/10/20	29/01/21	12/05/21	30/07/21	29/10/21	31/01/22	28/04/22	28/07/22	28/10/22	30/01/23	28/04/23	28/07/23	30/10/23	30/01/24	26/04/24	30/07/24	29/10/24	30/01/25	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2026 S1
Net sales ¹	1,315,030	1,678,993	1,382,805	1,631,290	1,455,371	1,857,647	1,548,801	1,928,461	1,486,676	1,546,000
Change	-	27.68%	-17.64%	17.97%	-10.78%	27.64%	-16.63%	24.51%	-22.91%	3.99%
EBITDA	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-
EBIT ¹	19,973	133,786	23,205	109,320	13,867	156,580	27,995	160,017	44,693	74,500
Change	-	569.83%	-82.66%	371.11%	-87.32%	1,029.16%	-82.12%	471.59%	-72.07%	66.69%
Charge d'intérêts	-5,182	-	-6,258	-	-4,115	-	-6,095	-	-10,729	-
Earnings before Tax (EBT)	19,363	138,468	25,758	118,678	24,111	143,560	31,977	153,034	26,677	-
Change	-	615.12%	-81.4%	360.74%	-79.68%	495.41%	-77.73%	378.58%	-82.57%	-
Net income	11,008	138,598	13,342	127,935	3,973	110,527	12,914	136,607	13,460	-
Change	-	1,159.07%	-90.37%	858.89%	-96.89%	2,681.95%	-88.32%	957.82%	-90.15%	-
Announcement Date	29/10/20	12/05/21	29/10/21	28/04/22	28/10/22	28/04/23	30/10/23	26/04/24	29/10/24	-

¹JPY in Million

Estimates

Forecast Balance Sheet: NEC Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	316,167	179,511	149,044	126,187	56,425	81,744	-107,700	-340,500
Change	-	-43.22%	-16.97%	-15.34%	-55.28%	44.87%	-184.86%	-216.16%
Announcement Date	12/05/20	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: NEC Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	72,825	70,936	71,106	77,714	96,499	150,625	103,360	102,558
Change	-	-2.59%	0.24%	9.29%	24.17%	56.09%	17.22%	-0.78%
Free Cash Flow (FCF) ¹	189,038	152,416	84,140	102,536	174,729	213,244	268,693	293,667
Change	-	-19.37%	-44.8%	21.86%	70.41%	22.04%	357.86%	9.29%
Announcement Date	12/05/20	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: NEC Corporation

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	9.5%	10.73%	10.39%	10.68%	10.8%	12.9%	13.98%	14.19%
EBIT Margin (%)	4.12%	5.14%	4.4%	5.14%	5.41%	7.49%	8.87%	9.39%
EBT Margin (%)	4.01%	5.27%	4.79%	5.06%	5.32%	7%	8.82%	9.55%
Net margin (%)	3.23%	5%	4.69%	3.46%	4.3%	5.12%	6.36%	6.73%
FCF margin (%)	6.11%	5.09%	2.79%	3.09%	5.02%	6.23%	7.77%	8.06%
FCF / Net Income (%)	189.1%	101.88%	59.56%	89.55%	116.86%	121.73%	122.17%	119.87%
Profitability
ROA	4.08%	4.65%	3.89%	4.33%	4.51%	5.61%	5.78%	6.1%
ROE	11.3%	13.5%	10%	7.3%	8.4%	9.1%	10.78%	11.06%
Financial Health
Leverage (Debt/EBITDA)	1.08x	0.56x	0.48x	0.36x	0.15x	0.19x	-	-
Debt / Free cash flow	1.67x	1.18x	1.77x	1.23x	0.32x	0.38x	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.35%	2.37%	2.36%	2.35%	2.78%	4.4%	2.99%	2.82%
CAPEX / EBITDA (%)	24.77%	22.07%	22.71%	21.97%	25.68%	34.11%	21.37%	19.85%
CAPEX / FCF (%)	38.52%	46.54%	84.51%	75.79%	55.23%	70.64%	38.47%	34.92%
Items per share
Cash flow per share ¹	205.1	236.3	236.2	220.8	253.2	250.4	294.4	310.2
Change	-	15.18%	-0.02%	-6.53%	14.65%	-1.08%	30.12%	5.37%
Dividend per Share ¹	14	18	20	22	24	28	33	37.5
Change	-	28.57%	11.11%	10%	9.09%	16.67%	15.59%	13.64%
Book Value Per Share ¹	701.6	960.1	1,111	1,219	1,438	1,465	1,607	1,756
Change	-	36.84%	15.71%	9.75%	17.92%	1.87%	6.34%	9.24%
EPS ¹	77	111.4	103.7	84.9	112.2	131.5	164.6	183.1
Change	-	44.71%	-6.93%	-18.13%	32.21%	17.15%	44.61%	11.24%
Nbr of stocks (in thousands)	1,299,142	1,362,479	1,362,288	1,331,749	1,332,286	1,332,699	1,332,699	1,332,699
Announcement Date	12/05/20	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	-	-