NISSHA CO., LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,823 JPY | +5.99% |
|
+8.51% | +23.76% |
| 04-11 | Jefferies Starts Nissha at Buy With 3,170 Yen Price Target | MT |
| 02-02 | Tranche Update on Nissha Co., Ltd.'s Equity Buyback Plan announced on November 9, 2023. | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 55,953 | 74,876 | 83,146 | 90,863 | 71,943 | 83,571 | - | - |
| Enterprise Value (EV) 1 | 84,353 | 92,120 | 90,620 | 94,092 | 89,856 | 89,393 | 73,291 | 85,371 |
| P/E ratio | -3.26 x | 10.6 x | 5.25 x | 8.99 x | -24.1 x | 14.8 x | 11.3 x | 10.3 x |
| Yield | 3.12% | 2% | 2.4% | 2.73% | 3.39% | 2.74% | 2.82% | 3.01% |
| Capitalization / Revenue | 0.32 x | 0.42 x | 0.44 x | 0.47 x | 0.43 x | 0.45 x | 0.42 x | 0.4 x |
| EV / Revenue | 0.48 x | 0.51 x | 0.48 x | 0.49 x | 0.54 x | 0.48 x | 0.37 x | 0.41 x |
| EV / EBITDA | 16.2 x | 5.86 x | 3.4 x | 4.95 x | 16.9 x | 5.64 x | 3.64 x | 4.27 x |
| EV / FCF | -11.5 x | 13.6 x | 7.47 x | 12.3 x | -14.8 x | 7.42 x | 10.1 x | 8.69 x |
| FCF Yield | -8.67% | 7.37% | 13.4% | 8.13% | -6.76% | 13.5% | 9.95% | 11.5% |
| Price to Book | 0.75 x | 0.91 x | 0.85 x | 0.81 x | 0.65 x | 0.78 x | 0.75 x | 0.72 x |
| Nbr of stocks (in thousands) | 49,913 | 49,984 | 49,788 | 49,652 | 48,841 | 48,588 | - | - |
| Reference price 2 | 1,121 | 1,498 | 1,670 | 1,830 | 1,473 | 1,823 | 1,823 | 1,823 |
| Announcement Date | 14/02/20 | 12/02/21 | 14/02/22 | 14/02/23 | 14/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 174,035 | 180,006 | 189,285 | 193,963 | 167,726 | 186,399 | 199,502 | 206,533 |
| EBITDA 1 | 5,221 | 15,720 | 26,621 | 19,007 | 5,320 | 15,862 | 20,122 | 20,000 |
| EBIT 1 | -16,247 | 7,290 | 17,363 | 9,520 | -3,817 | 6,250 | 9,863 | 11,144 |
| Operating Margin | -9.34% | 4.05% | 9.17% | 4.91% | -2.28% | 3.35% | 4.94% | 5.4% |
| Earnings before Tax (EBT) 1 | -16,628 | 7,051 | 19,499 | 12,373 | -2,762 | 7,746 | 10,661 | 11,894 |
| Net income 1 | -17,179 | 7,069 | 15,859 | 10,140 | -2,988 | 5,677 | 7,402 | 8,636 |
| Net margin | -9.87% | 3.93% | 8.38% | 5.23% | -1.78% | 3.05% | 3.71% | 4.18% |
| EPS 2 | -344.2 | 141.5 | 318.4 | 203.6 | -61.13 | 123.3 | 160.8 | 177.4 |
| Free Cash Flow 1 | -7,312 | 6,787 | 12,129 | 7,654 | -6,073 | 12,045 | 7,290 | 9,822 |
| FCF margin | -4.2% | 3.77% | 6.41% | 3.95% | -3.62% | 6.46% | 3.65% | 4.76% |
| FCF Conversion (EBITDA) | - | 43.17% | 45.56% | 40.27% | - | 75.94% | 36.23% | 49.11% |
| FCF Conversion (Net income) | - | 96.01% | 76.48% | 75.48% | - | 212.17% | 98.49% | 113.73% |
| Dividend per Share 2 | 35.00 | 30.00 | 40.00 | 50.00 | 50.00 | 50.00 | 51.39 | 54.93 |
| Announcement Date | 14/02/20 | 12/02/21 | 14/02/22 | 14/02/23 | 14/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 S1 | 2025 S2 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 100,089 | 77,164 | 102,842 | 97,584 | 47,948 | 43,753 | 91,701 | 41,412 | 46,805 | 88,217 | 53,165 | 52,581 | 105,746 | 42,430 | 40,575 | 83,005 | 40,880 | 43,841 | 46,719 | 47,475 | 93,405 | 47,263 | 47,468 | 94,730 | 48,352 | 97,024 | 100,856 | 101,564 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 1,522 | -1,242 | 8,532 | 10,830 | 4,613 | 1,920 | 6,533 | 2,494 | 3,773 | 6,267 | 3,413 | -160 | 3,253 | -671 | 729 | 58 | -472 | -3,403 | 1,301 | 1,634 | 2,812 | 1,487 | 1,503 | 2,990 | 1,807 | 3,703 | 5,061 | 5,080 |
| Operating Margin | 1.52% | -1.61% | 8.3% | 11.1% | 9.62% | 4.39% | 7.12% | 6.02% | 8.06% | 7.1% | 6.42% | -0.3% | 3.08% | -1.58% | 1.8% | 0.07% | -1.15% | -7.76% | 2.78% | 3.44% | 3.01% | 3.15% | 3.17% | 3.16% | 3.74% | 3.82% | 5.02% | 5% |
| Earnings before Tax (EBT) 1 | 4,542 | -1,151 | 8,202 | 12,211 | 4,692 | 2,596 | 7,288 | 3,565 | 5,984 | 9,549 | 4,400 | -1,576 | 2,824 | -791 | 1,878 | 1,087 | -89 | - | 1,715 | 2,384 | 4,312 | 2,237 | 2,253 | 4,490 | 2,557 | 5,203 | 6,561 | 6,580 |
| Net income 1 | 3,438 | -245 | 7,314 | 10,587 | 3,930 | 1,342 | 5,272 | 3,280 | 4,623 | 7,903 | 3,915 | -1,678 | 2,237 | -784 | 1,585 | 801 | -226 | - | 1,240 | 1,838 | 3,326 | 1,725 | 1,738 | 3,463 | 1,972 | 4,012 | 5,058 | 5,073 |
| Net margin | 3.43% | -0.32% | 7.11% | 10.85% | 8.2% | 3.07% | 5.75% | 7.92% | 9.88% | 8.96% | 7.36% | -3.19% | 2.12% | -1.85% | 3.91% | 0.97% | -0.55% | - | 2.65% | 3.87% | 3.56% | 3.65% | 3.66% | 3.66% | 4.08% | 4.14% | 5.02% | 4.99% |
| EPS 2 | 68.88 | -4.910 | 146.4 | 212.5 | 78.93 | 26.96 | 105.9 | 65.85 | 92.77 | 158.6 | 78.52 | -33.49 | 45.03 | -15.97 | 32.33 | 16.36 | -4.600 | - | 25.65 | 37.80 | - | 35.50 | 35.80 | - | 40.60 | - | - | - |
| Dividend per Share | 20.00 | 15.00 | - | 15.00 | - | - | 25.00 | - | - | 15.00 | - | - | 35.00 | - | - | 25.00 | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 14/02/20 | 06/08/20 | 12/02/21 | 05/08/21 | 10/11/21 | 14/02/22 | 14/02/22 | 12/05/22 | 08/08/22 | 08/08/22 | 10/11/22 | 14/02/23 | 14/02/23 | 11/05/23 | 08/08/23 | 08/08/23 | 09/11/23 | 14/02/24 | 09/05/24 | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 28,400 | 17,244 | 7,474 | 3,229 | 17,913 | 5,822 | - | 1,800 |
| Net Cash position 1 | - | - | - | - | - | - | 10,280 | - |
| Leverage (Debt/EBITDA) | 5.44 x | 1.097 x | 0.2808 x | 0.1699 x | 3.367 x | 0.367 x | - | 0.09 x |
| Free Cash Flow 1 | -7,312 | 6,787 | 12,129 | 7,654 | -6,073 | 12,045 | 7,290 | 9,822 |
| ROE (net income / shareholders' equity) | -20.6% | 9% | 17.6% | 9.7% | -2.7% | 5.2% | 7.06% | 7.03% |
| ROA (Net income/ Total Assets) | -8.53% | 3.66% | 9.53% | 5.63% | -1.23% | 2.83% | 4.08% | 4.9% |
| Assets 1 | 201,332 | 193,248 | 166,325 | 180,085 | 242,363 | 200,602 | 181,458 | 176,245 |
| Book Value Per Share 2 | 1,503 | 1,642 | 1,973 | 2,257 | 2,282 | 2,338 | 2,444 | 2,545 |
| Cash Flow per Share 2 | -142.0 | 310.0 | 504.0 | 394.0 | 126.0 | 335.0 | 384.0 | 402.0 |
| Capex 1 | 8,948 | 7,896 | 6,661 | 7,359 | 7,559 | 10,000 | 9,000 | 8,000 |
| Capex / Sales | 5.14% | 4.39% | 3.52% | 3.79% | 4.51% | 5.36% | 4.51% | 3.87% |
| Announcement Date | 14/02/20 | 12/02/21 | 14/02/22 | 14/02/23 | 14/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
1,823
JPY
Average target price
2,242
JPY
Spread / Average Target
+22.98%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +23.76% | 537M | |
| +28.73% | 76.64B | |
| -8.95% | 33.79B | |
| -13.44% | 29.64B | |
| -7.43% | 14.22B | |
| -5.41% | 10.83B | |
| +9.85% | 9.92B | |
| +6.70% | 8.39B | |
| -9.56% | 9.23B | |
| +25.25% | 8.31B |
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- Financials Nissha Co., Ltd.
