Financials Nintendo Co., Ltd.

Equities

7974

JP3756600007

Toys & Juvenile Products

Market Closed - Japan Exchange Other stock markets 07:00:00 13/09/2024 BST			5-day change	1st Jan Change
7,583.00 ^JPY	-0.90%		-2.32%	+3.04%

08-13	Newzoo tempers global game market forecast amid sluggish console sales	RE
08-11	Disney announces 'Avatar' will come to California Adventure park	RE

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	1,405,595	1,792,523	2,010,157
Change	-	34.42%	-3.61%	-5.52%	4.38%	-15.93%	27.53%	12.14%
EBITDA ¹	361,927	651,432	603,287	515,415	546,797	388,494	500,726	599,300
Change	-	79.99%	-7.39%	-14.57%	6.09%	-28.95%	28.89%	19.69%
EBIT ¹	352,370	640,634	592,760	504,375	528,941	407,220	505,840	588,742
Change	-	81.81%	-7.47%	-14.91%	4.87%	-23.01%	24.22%	16.39%
Interest Paid ¹	-	-177	-281	-122	-166	-237.5	-1,119	-1,458
Earnings before Tax (EBT) ¹	361,273	681,305	674,389	600,757	680,722	491,655	582,099	648,614
Change	-	88.58%	-1.02%	-10.92%	13.31%	-27.77%	18.4%	11.43%
Net income ¹	258,641	480,376	477,691	432,768	490,602	344,577	411,388	464,610
Change	-	85.73%	-0.56%	-9.4%	13.36%	-29.76%	19.39%	12.94%
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	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	172,111	271,856	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	274,799	505,064	330,965	294,099	321,432	635,267	349,401
Change	-	57.95%	112.87%	-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%	-3.29%	83.79%	-34.47%	-11.14%	9.29%	97.64%	-45%
EBITDA ¹	28,799	68,239	-	-	146,056	148,012	231,124	122,224	-	101,712	254,124	126,295	103,121	221,982	-	-	192,456	98,322	-	-	57,807	84,000	142,500	34,000	-	-	-	-
Change	-	136.95%	-100%	-	-	1.34%	56.15%	-47.12%	-100%	-	149.85%	-50.3%	-18.35%	115.26%	-100%	-	-	-48.91%	-100%	-	0%	-18.96%	69.64%	-76.14%	-100%	-	-	-
EBIT ¹	27,428	66,794	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	69,579	167,699	78,048	104,250	120,650	188,324	84,985
Change	-	143.52%	152.58%	-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%	-17.49%	141.02%	-53.46%	33.57%	15.73%	56.09%	-54.87%
Charge d'intérêts	-	-	-	-	-	-	-	-	-62	-	-75	-	-	-	-	-	-32	-	-30	-	-50	-	-	-200	-	-	-	-
Earnings before Tax (EBT) ¹	22,301	62,930	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	69,234	175,340	68,162	111,500	144,300	237,800	105,000
Change	-	182.18%	201.12%	-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%	-46.25%	153.26%	-61.13%	63.58%	29.42%	64.8%	-55.85%
Net income ¹	16,604	45,414	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	54,242	138,275	56,171	79,200	102,500	168,800	74,500
Change	-	173.51%	195.88%	-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%	-37.53%	154.92%	-59.38%	41%	29.42%	64.68%	-55.86%
Announcement Date	30/07/19	31/10/19	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	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1
Net sales ¹	864,552	769,524	989,386	624,272	1,071,072	656,974	944,703	796,237	487,000
Change	-	-10.99%	28.57%	-36.9%	71.57%	-38.66%	43.8%	-15.72%	-38.84%
EBITDA	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EBIT ¹	258,148	291,424	349,210	219,959	372,801	220,387	283,988	279,910	114,300
Change	-	12.89%	19.83%	-37.01%	69.49%	-40.88%	28.86%	-1.44%	-59.17%
Charge d'intérêts	-	-	-	-147	-	-	-	-63	-
Earnings before Tax (EBT)	276,042	299,965	-	239,573	-	322,355	278,402	379,980	-
Change	-	8.67%	-100%	-	-100%	-	-13.63%	36.49%	-100%
Net income ¹	196,623	213,123	267,253	171,834	305,857	230,451	202,317	271,298	109,200
Change	-	8.39%	25.4%	-35.7%	78%	-24.65%	-12.21%	34.1%	-59.75%
Announcement Date	07/05/20	05/11/20	06/05/21	04/11/21	10/05/22	08/11/22	09/05/23	07/11/23	-

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	-1,853,377	-2,004,762	-2,186,069
Change	-	-243.2%	-169.24%	-204.74%	-278.27%	-182.27%	-208.17%	-209.04%
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	-	-	-

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	26,749	22,847	20,895
Change	-	4.89%	-6.4%	32.35%	-27.34%	65.91%	-14.59%	-8.54%
Free Cash Flow (FCF) ¹	159,320	594,194	383,360	178,154	445,974	305,460	353,510	429,696
Change	-	272.96%	-35.48%	-53.53%	150.33%	-31.51%	15.73%	21.55%
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	-	-	-

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%	27.64%	27.93%	29.81%
EBIT Margin (%)	26.93%	36.42%	34.96%	31.49%	31.64%	28.97%	28.22%	29.29%
EBT Margin (%)	27.61%	38.73%	39.78%	37.51%	40.72%	34.98%	32.47%	32.27%
Net margin (%)	19.77%	27.31%	28.18%	27.02%	29.34%	24.51%	22.95%	23.11%
FCF margin (%)	12.18%	33.78%	22.61%	11.12%	26.68%	21.73%	19.72%	21.38%
FCF / Net Income (%)	61.6%	123.69%	80.25%	41.17%	90.9%	88.65%	85.93%	92.49%
Profitability
ROA	19.89%	31%	26.26%	21.79%	22.66%	11.45%	11.76%	12.01%
ROE	17.5%	28.1%	24.2%	20%	20.1%	13.04%	14.27%	14.38%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	1.31%	1.02%	0.99%	1.39%	0.96%	1.9%	1.27%	1.04%
CAPEX / EBITDA (%)	4.72%	2.75%	2.78%	4.31%	2.95%	6.89%	4.56%	3.49%
CAPEX / FCF (%)	10.72%	3.01%	4.37%	12.46%	3.62%	8.76%	6.46%	4.86%
Items per share
Cash flow per share ¹	225.1	412.3	413.6	380.9	436.7	284	257.9	277.7
Change	-	83.14%	0.31%	-7.91%	14.66%	-34.98%	-9.17%	7.65%
Dividend per Share ¹	109	222	203	186	211	144.6	169.3	198.4
Change	-	103.67%	-8.56%	-8.37%	13.44%	-31.47%	17.09%	17.21%
Book Value Per Share ¹	1,293	1,573	1,764	1,947	2,236	2,317	2,487	2,661
Change	-	21.66%	12.08%	10.38%	14.89%	3.61%	7.34%	6.97%
EPS ¹	217.1	403.3	404.7	371.4	421.4	293.3	351.8	391.4
Change	-	85.73%	0.35%	-8.22%	13.46%	-30.39%	19.94%	11.26%
Nbr of stocks (in thousands)	1,191,238	1,191,232	1,173,222	1,164,229	1,164,239	1,164,238	1,164,238	1,164,238
Announcement Date	07/05/20	06/05/21	10/05/22	09/05/23	07/05/24	-	-	-