NEC NETWORKS & SYSTEM INTEGRATION CORPORATION Financials NEC Networks & System Integration Corporation
Equities
1973
JP3733800001
IT Services & Consulting
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,582 JPY | +2.50% |
|
+3.53% | +8.53% |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 132,776 | 218,416 | 290,117 | 266,012 | 240,562 | 384,632 | - | - |
| Enterprise Value (EV) 1 | 84,833 | 168,789 | 231,815 | 198,936 | 183,868 | 377,631 | 314,774 | 302,450 |
| P/E ratio | 14.9 x | 23.2 x | 18.4 x | 17.7 x | 17.4 x | 24.6 x | 19.2 x | 18.8 x |
| Yield | 2.92% | 1.86% | 1.8% | 2.41% | 2.85% | 1.93% | 2.13% | 2.19% |
| Capitalization / Revenue | 0.48 x | 0.72 x | 0.86 x | 0.86 x | 0.75 x | 1.05 x | 1.05 x | 1 x |
| EV / Revenue | 0.31 x | 0.56 x | 0.68 x | 0.64 x | 0.57 x | 1.05 x | 0.86 x | 0.79 x |
| EV / EBITDA | 5.37 x | 8.52 x | 8.04 x | 7.52 x | 6.83 x | 11.2 x | 9.15 x | 7.84 x |
| EV / FCF | 30.4 x | 27.2 x | 16.1 x | 12.8 x | -86.8 x | 105 x | 38.4 x | 29.7 x |
| FCF Yield | 3.29% | 3.68% | 6.19% | 7.8% | -1.15% | 0.95% | 2.61% | 3.37% |
| Price to Book | 1.27 x | 1.98 x | 2.35 x | 1.97 x | 1.7 x | 2.48 x | 2.36 x | 2.17 x |
| Nbr of stocks (in thousands) | 148,908 | 148,920 | 148,931 | 148,943 | 148,955 | 148,967 | - | - |
| Reference price 2 | 891.7 | 1,467 | 1,948 | 1,786 | 1,615 | 2,582 | 2,582 | 2,582 |
| Announcement Date | 4/26/19 | 4/28/20 | 4/27/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 277,949 | 303,616 | 339,109 | 310,334 | 320,802 | 359,505 | 367,250 | 382,767 |
| EBITDA 1 | 15,785 | 19,817 | 28,819 | 26,460 | 26,921 | 29,100 | 34,400 | 38,600 |
| EBIT 1 | 12,774 | 16,245 | 25,563 | 23,181 | 22,751 | 25,120 | 30,000 | 31,933 |
| Operating Margin | 4.6% | 5.35% | 7.54% | 7.47% | 7.09% | 6.99% | 8.17% | 8.34% |
| Earnings before Tax (EBT) 1 | 13,023 | 12,522 | 24,745 | 23,367 | 22,145 | 23,964 | 30,000 | 30,150 |
| Net income 1 | 8,885 | 9,422 | 15,745 | 15,021 | 13,813 | 15,329 | 20,000 | 20,433 |
| Net margin | 3.2% | 3.1% | 4.64% | 4.84% | 4.31% | 4.26% | 5.45% | 5.34% |
| EPS 2 | 59.67 | 63.28 | 105.7 | 100.8 | 92.74 | 102.9 | 134.3 | 137.2 |
| Free Cash Flow 1 | 2,792 | 6,209 | 14,358 | 15,512 | -2,118 | 3,100 | 8,200 | 10,200 |
| FCF margin | 1% | 2.05% | 4.23% | 5% | -0.66% | 0.88% | 2.23% | 2.66% |
| FCF Conversion (EBITDA) | 17.69% | 31.33% | 49.82% | 58.62% | - | 10.65% | 23.84% | 26.42% |
| FCF Conversion (Net income) | 31.42% | 65.9% | 91.19% | 103.27% | - | 20.22% | 41% | 49.92% |
| Dividend per Share 2 | 26.00 | 27.33 | 35.00 | 43.00 | 46.00 | 49.00 | 55.00 | 56.67 |
| Announcement Date | 4/26/19 | 4/28/20 | 4/27/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 136,270 | 167,346 | 151,205 | 187,904 | 73,299 | 140,961 | 77,863 | 91,510 | 169,373 | 67,628 | 75,058 | 142,686 | 79,195 | 98,921 | 178,116 | 71,683 | 83,512 | 155,195 | 94,244 | 110,066 | 204,310 | 77,200 | 88,700 | 91,300 | 110,300 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 4,369 | 11,876 | 6,732 | 18,831 | 4,671 | 7,621 | 4,547 | 11,013 | 15,560 | 1,499 | 3,144 | 4,643 | 6,531 | 11,577 | 18,108 | 1,118 | 5,106 | 6,224 | 6,226 | 12,670 | 18,896 | 2,200 | 6,500 | 7,000 | 14,300 |
| Operating Margin | 3.21% | 7.1% | 4.45% | 10.02% | 6.37% | 5.41% | 5.84% | 12.03% | 9.19% | 2.22% | 4.19% | 3.25% | 8.25% | 11.7% | 10.17% | 1.56% | 6.11% | 4.01% | 6.61% | 11.51% | 9.25% | 2.85% | 7.33% | 7.67% | 12.96% |
| Earnings before Tax (EBT) 1 | 2,141 | - | 6,323 | 18,422 | 4,844 | 7,706 | 4,627 | 11,034 | 15,661 | 1,006 | 3,089 | 4,095 | 6,193 | 11,857 | 18,050 | 1,116 | 5,045 | 6,161 | 6,029 | 11,774 | - | 2,200 | 6,500 | 7,000 | 14,300 |
| Net income 1 | 2,902 | 6,520 | 3,967 | 11,778 | 3,050 | 4,703 | 2,982 | 7,336 | 10,318 | 496 | 2,203 | 2,699 | 3,412 | 7,702 | 11,114 | 182 | 3,418 | 3,600 | 4,098 | 7,631 | 11,729 | 1,400 | 4,300 | 4,700 | 9,600 |
| Net margin | 2.13% | 3.9% | 2.62% | 6.27% | 4.16% | 3.34% | 3.83% | 8.02% | 6.09% | 0.73% | 2.94% | 1.89% | 4.31% | 7.79% | 6.24% | 0.25% | 4.09% | 2.32% | 4.35% | 6.93% | 5.74% | 1.81% | 4.85% | 5.15% | 8.7% |
| EPS | 19.49 | - | 26.64 | - | - | 31.58 | 20.02 | - | - | 3.330 | - | 18.12 | 22.91 | - | - | 1.220 | - | 24.17 | 27.51 | - | - | - | - | - | - |
| Dividend per Share | 13.33 | - | 14.00 | - | - | 19.00 | - | - | - | - | - | 23.00 | - | - | - | - | - | 24.50 | - | - | - | - | - | - | - |
| Announcement Date | 10/29/19 | 4/28/20 | 10/29/20 | 4/27/21 | 10/29/21 | 10/29/21 | 1/31/22 | 4/28/22 | 4/28/22 | 7/28/22 | 10/28/22 | 10/28/22 | 1/30/23 | 4/28/23 | 4/28/23 | 7/28/23 | 10/30/23 | 10/30/23 | 1/30/24 | 4/26/24 | 4/26/24 | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 47,943 | 49,627 | 58,302 | 67,076 | 56,694 | 59,891 | 69,858 | 82,183 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,792 | 6,209 | 14,358 | 15,512 | -2,118 | 3,100 | 8,200 | 10,200 |
| ROE (net income / shareholders' equity) | 8.7% | 8.8% | 13.5% | 11.6% | 10% | 10.4% | 12.8% | 13.6% |
| ROA (Net income/ Total Assets) | 6.14% | 7.14% | 10.6% | 9.33% | 8.81% | 8.95% | 10.2% | - |
| Assets 1 | 144,713 | 131,953 | 148,409 | 161,066 | 156,862 | 171,367 | 196,078 | - |
| Book Value Per Share 2 | 704.0 | 741.0 | 830.0 | 905.0 | 948.0 | 1,024 | 1,093 | 1,189 |
| Cash Flow per Share | 78.20 | 87.30 | 128.0 | 123.0 | 121.0 | 128.0 | - | - |
| Capex 1 | 1,917 | 3,004 | 3,025 | 3,427 | 4,102 | 3,500 | 3,500 | 3,500 |
| Capex / Sales | 0.69% | 0.99% | 0.89% | 1.1% | 1.28% | 0.99% | 0.95% | 0.91% |
| Announcement Date | 4/26/19 | 4/28/20 | 4/27/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
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
OUTPERFORM
Number of Analysts
2
Last Close Price
2,582
JPY
Average target price
2,825
JPY
Spread / Average Target
+9.41%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +8.53% | 2.44B | |
| -7.42% | 31.57B | |
| +0.21% | 15.14B | |
| -6.71% | 8.91B | |
| +6.83% | 7.48B | |
| +3.85% | 4.94B | |
| -45.75% | 4.44B | |
| +12.35% | 2.99B | |
| -13.45% | 2.36B | |
| -15.17% | 2.06B |
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- Financials NEC Networks & System Integration Corporation
