Balance Sheet Nippon Paint Holdings Co., Ltd.

Equities

4612

JP3749400002

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 07:30:00 18/07/2025 BST			5-day change	1st Jan Change
1,198.50 ^JPY	-0.21%		-2.72%	+17.10%

06-27	JSW strengthens India paints push with $1.6 billion Akzo Nobel unit deal	RE
05-19	Nippon Paint Completes Treasury Share Disposal for Director Compensation	MT

9a957d5882df05d66.sE2aMLtW8fPOF7d4ABT1kufVHTniczZaRlEwhK1hjsQ.3CfCdtoYpqn9f_waSn67-aG2XmmbEHkjJGZj9ZlT4LaGNNBf7yLClJ51-g

Published financial data: NIPPON PAINT HOLDINGS CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	781B	998B	1,309B	1,443B	1,639B
Total Revenues	781B	998B	1,309B	1,443B	1,639B
Cost of Goods Sold, Total	458B	620B	821B	866B	981B
Gross Profit	323B	378B	488B	576B	657B
Selling General & Admin Expenses, Total	238B	294B	383B	420B	481B
R&D Expenses	-	-	-	-	-
Depreciation & Amortization - (IS)	-	-	-	-	-
Other Operating Expenses	1.03B	-372M	-2.87B	-5.18B	-3.75B
Other Operating Expenses, Total	239B	294B	380B	415B	478B
Operating Income	84.11B	84.37B	107B	161B	180B
Interest Expense, Total	-5.66B	-5.59B	-8.36B	-8.84B	-13.4B
Interest And Investment Income	4.51B	3.91B	4.23B	6.14B	9.95B
Net Interest Expenses	-1.15B	-1.68B	-4.13B	-2.7B	-3.44B
Income (Loss) On Equity Invest.	1.65B	2.19B	-577M	201M	2.57B
Currency Exchange Gains (Loss)	1.06B	-177M	289M	42M	-406M
Other Non Operating Income (Expenses)	3.5B	3.13B	2.29B	2.01B	1.18B
EBT, Excl. Unusual Items	89.17B	87.83B	105B	161B	180B
Restructuring Charges	-	-	-2.21B	-	-
Impairment of Goodwill	-	1.53B	21M	-	1.47B
Gain (Loss) On Sale Of Investments	483M	-1.5B	281M	568M	994M
Gain (Loss) On Sale Of Assets	-667M	-1.4B	1.49B	1.3B	-69M
Asset Writedown	-272M	-	-	-987M	-611M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	88.71B	86.47B	104B	161B	182B
Income Tax Expense	20.54B	19.24B	25.04B	42.5B	52.85B
Earnings From Continuing Operations	68.17B	67.22B	79.45B	119B	129B
Earnings Of Discontinued Operations	-	890M	-	-	-
Net Income to Company	68.17B	68.11B	79.45B	119B	129B
Minority Interest	-23.53B	-542M	-33M	-521M	-1.34B
Net Income - (IS)	44.65B	67.57B	79.42B	118B	127B
Net Income to Common Incl Extra Items	44.65B	67.57B	79.42B	118B	127B
Net Income to Common Excl. Extra Items	44.65B	66.68B	79.42B	118B	127B
Per Share Items
Net EPS - Basic	27.83	29.41	33.82	50.45	54.22
Basic EPS - Continuing Operations	27.83	29.03	33.82	50.45	54.22
Basic Weighted Average Shares Outstanding	1.6B	2.3B	2.35B	2.35B	2.35B
Net EPS - Diluted	27.83	29.41	33.82	50.44	54.21
Diluted EPS - Continuing Operations	27.83	29.03	33.82	50.44	54.21
Diluted Weighted Average Shares Outstanding	1.6B	2.3B	2.35B	2.35B	2.35B
Normalized Basic EPS	20.08	23.66	27.91	42.52	47.26
Normalized Diluted EPS	20.07	23.66	27.91	42.52	47.26
Dividend Per Share	9	9	11	14	15
Payout Ratio	32.34	43.11	29.57	34	27.66
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	114B	118B	154B	213B	244B
EBITA	84.11B	84.37B	107B	161B	180B
EBIT	84.11B	84.37B	107B	161B	180B
Effective Tax Rate - (Ratio)	23.15	22.26	23.97	26.32	29.11
Normalized Net Income	32.2B	54.35B	65.54B	99.86B	111B
Non-Cash Pension Expense	219M	545M	-836M	503M	430M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	18.41B	24.25B	28.11B	30B	32.94B

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	232B	139B	243B	290B	288B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	232B	139B	243B	290B	288B
Accounts Receivable, Total	232B	267B	311B	318B	377B
Total Receivables	232B	267B	311B	318B	377B
Inventory	94.06B	133B	176B	176B	202B
Prepaid Expenses	5.67B	6.63B	7.54B	7B	9.98B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	79.64B	55.59B	28.14B	99.35B	177B
Total Current Assets	643B	601B	766B	890B	1,055B
Net Property Plant And Equipment	248B	302B	377B	410B	479B
Long-term Investments	66.24B	94.73B	67.01B	77.74B	105B
Goodwill	424B	653B	826B	898B	971B
Other Intangibles, Total	230B	300B	400B	431B	457B
Deferred Tax Assets Long-Term	3.08B	5.02B	7.28B	7.54B	4.59B
Other Long-Term Assets, Total	4M	4M	6M	4M	4M
Total Assets	1,615B	1,955B	2,442B	2,713B	3,071B
Liabilities
Accounts Payable, Total	162B	210B	257B	262B	293B
Accrued Expenses, Total	20.49B	23.15B	27.65B	31.61B	38.92B
Short-term Borrowings	16.22B	14.73B	10.43B	443M	558M
Current Portion of Long-Term Debt	51.92B	50.38B	85.54B	55.55B	146B
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	28.03B	33.35B	36.79B	45.94B	52.43B
Other Current Liabilities	37.37B	41.34B	50.96B	42.01B	51.74B
Total Current Liabilities	316B	373B	468B	438B	582B
Long-Term Debt	468B	458B	626B	684B	614B
Long-Term Leases	-	-	-	-	-
Pension & Other Post Retirement Benefits	20.76B	18.57B	16.36B	17.13B	17.72B
Deferred Tax Liability Non Current	59.6B	74.04B	91.58B	103B	114B
Other Non Current Liabilities	52.04B	63.23B	84.75B	104B	134B
Total Liabilities	916B	986B	1,287B	1,345B	1,461B
Common Stock, Total	78.86B	671B	671B	671B	671B
Additional Paid In Capital	63.32B	-	-	-	-
Retained Earnings	445B	228B	273B	351B	436B
Treasury Stock	-6.27B	-6.15B	-6.1B	-6.05B	-6.02B
Comprehensive Income and Other	-12.16B	66.23B	211B	342B	490B
Total Common Equity	568B	960B	1,149B	1,358B	1,591B
Minority Interest	131B	9.18B	6.53B	9.79B	19.24B
Total Equity	700B	969B	1,155B	1,368B	1,610B
Total Liabilities And Equity	1,615B	1,955B	2,442B	2,713B	3,071B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.35B	2.35B	2.35B	2.35B	2.35B
ECS Total Common Shares Outstanding	1.6B	2.35B	2.35B	2.35B	2.35B
Book Value / Share	354.27	408.61	489.19	578.35	677.38
Tangible Book Value	-85.87B	6.63B	-76.75B	29.8B	163B
Tangible Book Value Per Share	-53.52	2.82	-32.68	12.69	69.32
Total Debt	536B	523B	722B	740B	760B
Net Debt	304B	384B	479B	450B	472B
Debt Equivalent of Unfunded Proj. Benefit Obligation	20.31B	18.02B	14.7B	13.49B	7.69B
Minority Interest, Total (Incl. Fin. Div)	131B	9.18B	6.53B	9.79B	19.24B
Equity Method Investments, Total	13.17B	31.41B	31.39B	28.2B	30.24B
Inventories - Raw Materials, Total	30.66B	49.4B	63.16B	58.79B	71.74B
Inventories - Work In Process, Total	4.4B	4.85B	6.2B	6.43B	6.71B
Inventories - Finished Goods, Total	58.99B	78.55B	107B	110B	124B
Inventories - Others	2M	1M	2M	-	1M
Full Time Employees	27.32K	30.25K	33.76K	34.39K	38.56K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	88.72B	86.47B	104B	162B	182B
Depreciation & Amortization - CF	29.52B	33.89B	47.12B	52.28B	63.69B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	29.52B	33.89B	47.12B	52.28B	63.69B
(Gain) Loss From Sale Of Asset	939M	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-1.65B	-2.19B	577M	-201M	-2.57B
Other Operating Activities, Total	-25.29B	-25.07B	-31.41B	-35.63B	-46.02B
Change In Accounts Receivable	-25.45B	-27.13B	3.02B	8.86B	-18.84B
Change In Inventories	-2.94B	-29B	-12.72B	15.86B	733M
Change In Accounts Payable	12.39B	33.56B	2.64B	-14.61B	-4.99B
Change in Other Net Operating Assets	12.33B	-3.1B	-1.37B	1.71B	-6.13B
Cash from Operations	88.56B	67.43B	112B	190B	167B
Capital Expenditure	-25.21B	-34.93B	-37.44B	-35.65B	-49B
Sale of Property, Plant, and Equipment	1.44B	1.16B	5.13B	4.04B	2.67B
Cash Acquisitions	-	-119B	-172B	-	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-3.55B	-4.45B	-3.58B	-2.46B	-2.76B
Investment in Marketable and Equity Securities, Total	-1.28B	47.38B	41.85B	-71.76B	-100B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-3.43B	-2.43B	3.46B	39M	-
Other Investing Activities, Total	-4.34B	9.79B	-2.78B	-10.18B	1.1B
Cash from Investing	-36.37B	-102B	-165B	-116B	-148B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	472B	40.69B	270B	113B	73B
Total Debt Issued	472B	40.69B	270B	113B	73B
Short Term Debt Repaid, Total	-360B	-3.25B	-5.72B	-10.53B	-1.4B
Long-Term Debt Repaid, Total	-16.58B	-54.57B	-75.56B	-86.24B	-56.05B
Total Debt Repaid	-376B	-57.82B	-81.27B	-96.76B	-57.45B
Issuance of Common Stock	-	-5.21B	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-14.44B	-29.13B	-23.48B	-40.28B	-35.22B
Common & Preferred Stock Dividends Paid	-14.44B	-29.13B	-23.48B	-40.28B	-35.22B
Other Financing Activities, Total	-20.55B	-10.84B	-19.55B	-14.62B	-17.71B
Cash from Financing	60.87B	-62.31B	146B	-38.66B	-37.38B
Foreign Exchange Rate Adjustments	-4.23B	3.92B	9.99B	11.45B	14.77B
Miscellaneous Cash Flow Adjustments	-1M	-1M	785M	479M	1.96B
Net Change in Cash	109B	-93.32B	104B	47.05B	-1.35B
Supplemental Items
Cash Interest Paid	5.72B	5.62B	8.55B	8.85B	13.35B
Cash Income Tax Paid (Refund)	26.68B	22.86B	32.86B	36.53B	47.36B
Levered Free Cash Flow	55.66B	53.29B	71.38B	41.89B	2.86B
Unlevered Free Cash Flow	59.2B	56.78B	76.61B	47.42B	11.23B
Change In Net Working Capital	-5.87B	-9.54B	-3.61B	67.41B	113B
Net Debt Issued / Repaid	95.86B	-17.12B	189B	16.24B	15.55B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.4	2.95	3.04	3.9	3.89
Return on Total Capital	4.44	3.87	3.97	5.05	5.02
Return On Equity %	9.82	8.06	7.48	9.43	8.64
Return on Common Equity	7.96	8.73	7.53	9.45	8.64
Margin Analysis
Gross Profit Margin %	41.41	37.9	37.24	39.94	40.12
SG&A Margin	30.51	29.48	29.29	29.13	29.37
EBITDA Margin %	14.55	11.85	11.78	14.79	14.86
EBITA Margin %	10.77	8.45	8.18	11.16	10.97
EBIT Margin %	10.77	8.45	8.18	11.16	10.97
Income From Continuing Operations Margin %	8.73	6.73	6.07	8.25	7.85
Net Income Margin %	5.72	6.77	6.07	8.21	7.77
Net Avail. For Common Margin %	5.72	6.68	6.07	8.21	7.77
Normalized Net Income Margin	4.12	5.44	5.01	6.92	6.77
Levered Free Cash Flow Margin	7.13	5.34	5.45	2.9	0.17
Unlevered Free Cash Flow Margin	7.58	5.69	5.85	3.29	0.69
Asset Turnover
Asset Turnover	0.5	0.56	0.6	0.56	0.57
Fixed Assets Turnover	3.2	3.63	3.86	3.67	3.69
Receivables Turnover (Average Receivables)	3.51	4	4.53	4.59	4.72
Inventory Turnover (Average Inventory)	4.9	5.47	5.32	4.93	5.19
Short Term Liquidity
Current Ratio	2.04	1.61	1.64	2.03	1.81
Quick Ratio	1.47	1.09	1.18	1.39	1.14
Operating Cash Flow to Current Liabilities	0.28	0.18	0.24	0.43	0.29
Days Sales Outstanding (Average Receivables)	104.21	91.21	80.61	79.61	77.6
Days Outstanding Inventory (Average Inventory)	74.74	66.78	68.61	74.07	70.51
Average Days Payable Outstanding	125.54	102.85	98.46	109.37	100.68
Cash Conversion Cycle (Average Days)	53.41	55.14	50.77	44.31	47.43
Long Term Solvency
Total Debt/Equity	76.56	53.99	62.5	54.07	47.2
Total Debt / Total Capital	43.36	35.06	38.46	35.1	32.06
LT Debt/Equity	66.82	47.27	54.19	49.98	38.1
Long-Term Debt / Total Capital	37.85	30.7	33.35	32.44	25.89
Total Liabilities / Total Assets	56.68	50.45	52.69	49.58	47.57
EBIT / Interest Expense	14.85	15.08	12.8	18.22	13.42
EBITDA / Interest Expense	20.07	21.14	18.43	24.14	18.18
(EBITDA - Capex) / Interest Expense	15.61	14.9	13.96	20.1	14.52
Total Debt / EBITDA	4.71	4.42	4.68	3.47	3.12
Net Debt / EBITDA	2.67	3.25	3.11	2.11	1.94
Total Debt / (EBITDA - Capex)	6.06	6.28	6.19	4.16	3.91
Net Debt / (EBITDA - Capex)	3.43	4.61	4.11	2.53	2.42
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.88	27.8	31.13	10.2	13.6
Gross Profit, 1 Yr. Growth %	17.34	16.96	28.87	18.17	14.11
EBITDA, 1 Yr. Growth %	0.84	4.08	30.35	38.39	14.15
EBITA, 1 Yr. Growth %	-3.22	0.31	26.87	50.47	11.66
EBIT, 1 Yr. Growth %	-3.22	0.31	26.87	50.47	11.66
Earnings From Cont. Operations, 1 Yr. Growth %	21.16	-1.4	18.19	49.77	8.13
Net Income, 1 Yr. Growth %	21.6	51.34	17.54	49.18	7.48
Normalized Net Income, 1 Yr. Growth %	-10.45	68.77	20.58	52.38	11.15
Diluted EPS Before Extra, 1 Yr. Growth %	21.57	4.3	16.51	49.15	7.47
Accounts Receivable, 1 Yr. Growth %	9	15.05	16.63	2.13	18.57
Inventory, 1 Yr. Growth %	1.29	41.19	32.57	-0.25	15.3
Net Property, Plant and Equip., 1 Yr. Growth %	3.32	21.51	24.9	8.8	16.78
Total Assets, 1 Yr. Growth %	9.25	21.03	24.92	11.1	13.2
Tangible Book Value, 1 Yr. Growth %	-18.34	-107.72	-1.26K	-138.82	446.41
Common Equity, 1 Yr. Growth %	2.8	68.81	19.73	18.23	17.13
Cash From Operations, 1 Yr. Growth %	-3.82	-23.86	66.62	68.89	-11.78
Capital Expenditures, 1 Yr. Growth %	10.76	38.53	7.2	-4.78	37.43
Levered Free Cash Flow, 1 Yr. Growth %	69.06	-4.26	33.96	-41.31	-93.17
Unlevered Free Cash Flow, 1 Yr. Growth %	64.84	-4.08	34.92	-38.1	-76.31
Dividend Per Share, 1 Yr. Growth %	0	0	22.22	27.27	7.14
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.56	20.11	29.45	20.21	11.89
Gross Profit, 2 Yr. CAGR %	15.57	17.15	22.77	23.4	16.13
EBITDA, 2 Yr. CAGR %	8.85	2.45	16.48	34.31	25.69
EBITA, 2 Yr. CAGR %	4.17	-1.47	12.81	38.16	29.62
EBIT, 2 Yr. CAGR %	4.17	-1.47	12.81	38.16	29.62
Earnings From Cont. Operations, 2 Yr. CAGR %	1.39	9.3	7.95	33.05	27.26
Net Income, 2 Yr. CAGR %	-0.78	35.66	33.37	32.42	26.62
Normalized Net Income, 2 Yr. CAGR %	3.13	22.94	42.65	35.55	30.14
Diluted EPS Before Extra, 2 Yr. CAGR %	-0.8	12.61	10.24	31.82	26.61
Accounts Receivable, 2 Yr. CAGR %	13.76	11.98	15.84	9.14	10.04
Inventory, 2 Yr. CAGR %	19.55	19.59	36.81	15	7.25
Net Property, Plant and Equip., 2 Yr. CAGR %	32.92	12.05	23.19	16.57	12.72
Total Assets, 2 Yr. CAGR %	30.13	14.99	22.96	17.81	12.14
Tangible Book Value, 2 Yr. CAGR %	-37.64	-74.9	-5.46	112.06	45.64
Common Equity, 2 Yr. CAGR %	4.55	31.73	42.17	18.98	17.68
Cash From Operations, 2 Yr. CAGR %	19.97	-14.42	12.63	67.76	22.06
Capital Expenditures, 2 Yr. CAGR %	17.06	23.87	21.86	1.03	14.39
Levered Free Cash Flow, 2 Yr. CAGR %	78.04	27.22	13.25	-11.33	-79.98
Unlevered Free Cash Flow, 2 Yr. CAGR %	87.88	25.74	13.76	-8.62	-61.71
Dividend Per Share, 2 Yr. CAGR %	0	0	10.55	24.72	16.77
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	8.88	16.73	23.67	22.69	17.96
Gross Profit, 3 Yr. CAGR %	9.67	16.03	20.93	21.22	20.23
EBITDA, 3 Yr. CAGR %	2.86	7.24	11.01	23.36	27.22
EBITA, 3 Yr. CAGR %	-0.96	2.87	7.19	24.18	28.69
EBIT, 3 Yr. CAGR %	3.91	2.87	7.19	24.18	28.69
Earnings From Cont. Operations, 3 Yr. CAGR %	5.95	0.45	12.19	20.4	24.16
Net Income, 3 Yr. CAGR %	6.35	14.21	29.33	38.44	23.52
Normalized Net Income, 3 Yr. CAGR %	6.15	21.53	22.14	45.82	26.87
Diluted EPS Before Extra, 3 Yr. CAGR %	6.33	0.87	13.9	21.93	23.15
Accounts Receivable, 3 Yr. CAGR %	12.05	14.19	13.51	11.08	12.2
Inventory, 3 Yr. CAGR %	11.2	26.37	23.77	23.14	15.1
Net Property, Plant and Equip., 3 Yr. CAGR %	20.23	29	16.18	18.19	16.64
Total Assets, 3 Yr. CAGR %	20.62	27.02	18.21	18.87	16.25
Tangible Book Value, 3 Yr. CAGR %	-23.43	-68.93	-9.96	-29.73	190.72
Common Equity, 3 Yr. CAGR %	4.06	22.65	27.6	33.7	18.36
Cash From Operations, 3 Yr. CAGR %	3.77	3.1	6.86	28.92	35.41
Capital Expenditures, 3 Yr. CAGR %	6.75	23.82	18.04	12.24	11.94
Levered Free Cash Flow, 3 Yr. CAGR %	16.44	44.78	29.43	-9.03	-62.28
Unlevered Free Cash Flow, 3 Yr. CAGR %	18.11	50.16	28.73	-7.13	-41.73
Dividend Per Share, 3 Yr. CAGR %	2.33	0	6.92	15.87	18.56
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	10.69	16.68	18.11	18.82
Gross Profit, 5 Yr. CAGR %	-	7.74	14.74	18.93	18.99
EBITDA, 5 Yr. CAGR %	-	-0.58	8.11	17.34	16.67
EBITA, 5 Yr. CAGR %	-	-4.04	4.34	15.75	15.65
EBIT, 5 Yr. CAGR %	-	-1.55	7.39	15.75	15.65
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-0.3	6.75	12.4	17.99
Net Income, 5 Yr. CAGR %	-	10.48	16.43	21.17	28.24
Normalized Net Income, 5 Yr. CAGR %	-	10.93	19.47	26.95	25.28
Diluted EPS Before Extra, 5 Yr. CAGR %	-	2.54	7.88	12.27	18.82
Accounts Receivable, 5 Yr. CAGR %	-	12.96	13.55	12.14	12.11
Inventory, 5 Yr. CAGR %	-	19.02	20.81	21.69	16.87
Net Property, Plant and Equip., 5 Yr. CAGR %	-	22.88	21.4	23.88	14.78
Total Assets, 5 Yr. CAGR %	-	18.75	21.55	23.25	15.74
Tangible Book Value, 5 Yr. CAGR %	-	-50.17	-16.69	-33.01	9.14
Common Equity, 5 Yr. CAGR %	-	15.18	17.89	21.17	23.54
Cash From Operations, 5 Yr. CAGR %	-	-8.28	7.23	25.26	12.7
Capital Expenditures, 5 Yr. CAGR %	-	10.89	12.55	14.15	16.57
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	15.15	19	-38.66
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	16.35	23.11	-20.74
Dividend Per Share, 5 Yr. CAGR %	-	-5.59	5.54	9.24	10.76