Financials Nintendo Co., Ltd.

Equities

7974

JP3756600007

Toys & Juvenile Products

Market Closed - Japan Exchange Other stock markets 07:30:00 13/06/2025 BST			5-day change	1st Jan Change
11,815.00 ^JPY	+0.17%		-0.76%	+27.54%

06-13	Nintendo Switch 2 Breaks Sales Records in First Four Days	MT
06-12	NINTENDO : Jefferies raises target again	CF

Projected Income Statement: Nintendo Co., Ltd.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,308,519	1,758,910	1,695,344	1,601,677	1,671,865	1,164,922	2,095,437	2,374,889
Change	-	34.42%	-3.61%	-5.52%	4.38%	-30.32%	79.88%	13.34%
EBITDA ¹	361,927	651,432	603,287	515,415	546,797	297,914	396,975	583,685
Change	-	79.99%	-7.39%	-14.57%	6.09%	-45.52%	33.25%	47.03%
EBIT ¹	352,370	640,634	592,760	504,375	528,941	282,553	390,605	562,120
Change	-	81.81%	-7.47%	-14.91%	4.87%	-46.58%	38.24%	43.91%
Interest Paid ¹	-	-177	-281	-122	-166	-193	-100	-164.3
Earnings before Tax (EBT) ¹	361,273	681,305	674,389	600,757	680,722	372,331	455,058	658,421
Change	-	88.58%	-1.02%	-10.92%	13.31%	-45.3%	22.22%	44.69%
Net income ¹	258,641	480,376	477,691	432,768	490,602	278,806	346,416	479,941
Change	-	85.73%	-0.56%	-9.4%	13.36%	-43.17%	24.25%	38.54%
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-

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	2027 Q1	2027 Q2
Net sales ¹	578,701	285,851	358,106	411,418	634,939	354,447	322,647	301,625	695,947	375,125	307,460	349,514	638,204	306,499	461,341	334,896	598,559	277,069	246,638	276,661	432,919	213,123	448,237	423,782	757,187	404,198	400,000	470,000
Change	-	-50.6%	25.28%	14.89%	54.33%	-44.18%	-8.97%	-6.52%	130.73%	-46.1%	-18.04%	13.68%	82.6%	-51.97%	50.52%	-27.41%	78.73%	-53.71%	-10.98%	12.17%	56.48%	-50.77%	110.32%	-5.46%	78.67%	-46.62%	-1.04%	17.5%
EBITDA	-	-	146,056	148,012	231,124	122,224	-	101,712	254,124	126,295	103,121	221,982	-	-	192,456	98,322	187,779	-	57,807	70,399	-	37,800	64,900	89,550	154,400	51,400	-	-
Change	-	-	-	1.34%	56.15%	-47.12%	-	-	149.85%	-50.3%	-18.35%	115.26%	-	-	-	-48.91%	90.98%	-	-	21.78%	-	-	71.69%	37.98%	72.42%	-66.71%	-	-
EBIT ¹	168,708	89,440	144,737	146,687	229,684	119,526	119,752	100,207	252,592	120,209	101,647	118,740	190,154	93,834	185,441	94,469	184,500	64,531	54,510	67,003	126,084	32,806	49,243	72,657	165,503	76,088	98,000	120,500
Change	-	-46.99%	61.83%	1.35%	56.58%	-47.96%	0.19%	-16.32%	152.07%	-52.41%	-15.44%	16.82%	60.14%	-50.65%	97.63%	-49.06%	95.3%	-65.02%	-15.53%	22.92%	88.18%	-73.98%	50.11%	47.55%	127.79%	-54.03%	28.8%	22.96%
Charge d'intérêts	-	-	-	-	-	-	-62	-	-75	-	-	-	-	-	-32	-	-30	-	-50	-	-	-100	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	189,494	86,548	150,327	149,638	230,643	150,697	128,603	110,970	277,486	157,330	166,740	155,615	160,114	118,288	253,753	126,227	187,318	113,424	113,454	33,609	180,060	52,417	67,987	97,191	192,518	68,753	108,000	130,500
Change	-	-54.33%	73.69%	-0.46%	54.13%	-34.66%	-14.66%	-13.71%	150.05%	-43.3%	5.98%	-6.67%	2.89%	-26.12%	114.52%	-50.26%	48.4%	-39.45%	0.03%	-70.38%	435.75%	-70.89%	29.7%	42.96%	98.08%	-64.29%	57.08%	20.83%
Net income ¹	134,371	62,252	106,482	106,641	163,542	103,711	92,747	79,087	195,553	110,304	118,984	111,467	115,776	86,541	181,019	90,279	136,743	82,561	80,954	27,704	128,531	34,036	46,614	70,316	141,557	70,462	76,700	92,700
Change	-	-53.67%	71.05%	0.15%	53.36%	-36.58%	-10.57%	-14.73%	147.26%	-43.59%	7.87%	-6.32%	3.87%	-25.25%	109.17%	-50.13%	51.47%	-39.62%	-1.95%	-65.78%	363.94%	-73.52%	36.96%	50.85%	101.31%	-50.22%	8.85%	20.86%
Announcement Date	30/01/20	07/05/20	06/08/20	05/11/20	01/02/21	06/05/21	05/08/21	04/11/21	03/02/22	10/05/22	03/08/22	08/11/22	07/02/23	09/05/23	03/08/23	07/11/23	06/02/24	07/05/24	02/08/24	05/11/24	04/02/25	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1
Net sales ¹	769,524	989,386	624,272	1,071,072	656,974	944,703	796,237	523,299
Change	-	28.57%	-36.9%	71.57%	-38.66%	43.8%	-15.72%	-34.28%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	291,424	349,210	219,959	372,801	220,387	283,988	279,910	121,513
Change	-	19.83%	-37.01%	69.49%	-40.88%	28.86%	-1.44%	-56.59%
Charge d'intérêts	-	-	-147	-	-	-	-63	-
Earnings before Tax (EBT) ¹	299,965	-	239,573	-	322,355	278,402	379,980	147,063
Change	-	-	-	-	-	-13.63%	36.49%	-61.3%
Net income ¹	213,123	267,253	171,834	305,857	230,451	202,317	271,298	108,658
Change	-	25.4%	-35.7%	78%	-24.65%	-12.21%	34.1%	-59.95%
Announcement Date	05/11/20	06/05/21	04/11/21	10/05/22	08/11/22	09/05/23	07/11/23	05/11/24

¹JPY in Million

Estimates

Forecast Balance Sheet: Nintendo Co., Ltd.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-1,216,784	-1,742,389	-1,206,506	-1,263,666	-2,252,705	-2,058,190	-1,938,424	-2,086,847
Change	-	-43.2%	30.76%	-4.74%	-78.27%	8.63%	-10.08%	-7.66%
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Nintendo Co., Ltd.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	17,077	17,912	16,766	22,190	16,123	19,008	22,112	25,955
Change	-	4.89%	-6.4%	32.35%	-27.34%	17.89%	17.33%	17.38%
Free Cash Flow (FCF) ¹	159,320	594,194	383,360	178,154	445,974	-6,939	348,989	394,950
Change	-	272.96%	-35.48%	-53.53%	150.33%	-101.56%	17.18%	13.17%
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Nintendo Co., Ltd.

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	27.66%	37.04%	35.58%	32.18%	32.71%	25.57%	18.94%	24.58%
EBIT Margin (%)	26.93%	36.42%	34.96%	31.49%	31.64%	24.26%	18.64%	23.67%
EBT Margin (%)	27.61%	38.73%	39.78%	37.51%	40.72%	31.96%	21.72%	27.72%
Net margin (%)	19.77%	27.31%	28.18%	27.02%	29.34%	23.93%	16.53%	20.21%
FCF margin (%)	12.18%	33.78%	22.61%	11.12%	26.68%	-0.6%	16.65%	16.63%
FCF / Net Income (%)	61.6%	123.69%	80.25%	41.17%	90.9%	-2.49%	100.74%	82.29%
Profitability
ROA	19.89%	31%	26.26%	21.79%	22.66%	11.37%	10.06%	13.44%
ROE	17.5%	28.1%	24.2%	20%	20.1%	10.5%	12.26%	15.2%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	1.31%	1.02%	0.99%	1.39%	0.96%	1.63%	1.06%	1.09%
CAPEX / EBITDA (%)	4.72%	2.75%	2.78%	4.31%	2.95%	6.38%	5.57%	4.45%
CAPEX / FCF (%)	10.72%	3.01%	4.37%	12.46%	3.62%	-273.93%	6.34%	6.57%
Items per share
Cash flow per share ¹	225.1	412.3	413.6	380.9	436.7	252.7	335.3	309.4
Change	-	83.14%	0.31%	-7.91%	14.66%	-42.15%	41.37%	-7.74%
Dividend per Share ¹	109	222	203	186	211	120	150.4	197.5
Change	-	103.67%	-8.56%	-8.37%	13.44%	-43.13%	28.55%	31.28%
Book Value Per Share ¹	1,293	1,573	1,764	1,947	2,236	2,340	2,470	2,717
Change	-	21.66%	12.08%	10.38%	14.89%	4.63%	8.35%	9.97%
EPS ¹	217.1	403.3	404.7	371.4	421.4	239.5	299.6	414.2
Change	-	85.73%	0.35%	-8.22%	13.46%	-43.17%	27.38%	38.24%
Nbr of stocks (in thousands)	1,191,238	1,191,232	1,173,222	1,164,229	1,164,239	1,164,248	1,164,248	1,164,248
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-