NICHICON CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,323 JPY | +1.61% |
|
+3.20% | +1.93% |
| Apr. 11 | Jefferies Starts Nichicon at Hold with 1,320 Yen Price Target | MT |
| 2023 | Atmosic and Nichicon Announce Energy Harvesting Solution to Reduce Battery Waste in the IoT | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 70,543 | 46,251 | 76,697 | 80,391 | 94,415 | 90,514 | - | - |
| Enterprise Value (EV) 1 | 69,608 | 38,084 | 81,492 | 87,655 | 102,209 | 78,166 | 76,669 | 74,470 |
| P/E ratio | -8.87 x | 16.7 x | 45 x | 10.2 x | 12.1 x | 9.87 x | 10.6 x | 9.27 x |
| Yield | 2.27% | 3.55% | 2.23% | 2.3% | 2.17% | 2.39% | 2.48% | 2.58% |
| Capitalization / Revenue | 0.57 x | 0.39 x | 0.66 x | 0.57 x | 0.51 x | 0.49 x | 0.47 x | 0.44 x |
| EV / Revenue | 0.57 x | 0.32 x | 0.7 x | 0.62 x | 0.55 x | 0.42 x | 0.4 x | 0.36 x |
| EV / EBITDA | 6.99 x | 4.83 x | 12 x | 7.02 x | 5.06 x | 4.52 x | 4.12 x | 3.54 x |
| EV / FCF | -3.03 x | 846 x | 26.4 x | -33.4 x | -50.7 x | 14.5 x | 13.6 x | 9.73 x |
| FCF Yield | -33% | 0.12% | 3.78% | -2.99% | -1.97% | 6.91% | 7.37% | 10.3% |
| Price to Book | 0.89 x | 0.61 x | 0.88 x | 0.87 x | 0.96 x | 0.85 x | 0.8 x | 0.75 x |
| Nbr of stocks (in thousands) | 69,637 | 68,419 | 68,419 | 68,418 | 68,417 | 68,416 | - | - |
| Reference price 2 | 1,013 | 676.0 | 1,121 | 1,175 | 1,380 | 1,323 | 1,323 | 1,323 |
| Announcement Date | 5/10/19 | 5/18/20 | 5/13/21 | 5/11/22 | 5/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 122,860 | 119,675 | 116,073 | 142,198 | 184,725 | 184,562 | 193,409 | 206,313 |
| EBITDA 1 | 9,963 | 7,885 | 6,818 | 12,482 | 20,219 | 17,288 | 18,595 | 21,014 |
| EBIT 1 | 5,473 | 2,549 | 1,573 | 6,427 | 12,676 | 10,196 | 10,851 | 12,501 |
| Operating Margin | 4.45% | 2.13% | 1.36% | 4.52% | 6.86% | 5.52% | 5.61% | 6.06% |
| Earnings before Tax (EBT) 1 | -5,961 | 3,666 | 2,752 | 9,587 | 9,970 | 12,176 | 11,724 | 13,273 |
| Net income 1 | -7,953 | 2,812 | 1,703 | 7,902 | 7,814 | 9,171 | 8,566 | 9,760 |
| Net margin | -6.47% | 2.35% | 1.47% | 5.56% | 4.23% | 4.97% | 4.43% | 4.73% |
| EPS 2 | -114.2 | 40.59 | 24.90 | 115.5 | 114.2 | 134.1 | 125.2 | 142.7 |
| Free Cash Flow 1 | -22,959 | 45 | 3,081 | -2,625 | -2,014 | 5,400 | 5,650 | 7,650 |
| FCF margin | -18.69% | 0.04% | 2.65% | -1.85% | -1.09% | 2.93% | 2.92% | 3.71% |
| FCF Conversion (EBITDA) | - | 0.57% | 45.19% | - | - | 31.24% | 30.38% | 36.4% |
| FCF Conversion (Net income) | - | 1.6% | 180.92% | - | - | 58.88% | 65.96% | 78.38% |
| Dividend per Share 2 | 23.00 | 24.00 | 25.00 | 27.00 | 30.00 | 31.67 | 32.83 | 34.17 |
| Announcement Date | 5/10/19 | 5/18/20 | 5/13/21 | 5/11/22 | 5/9/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 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 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 59,813 | 59,862 | 53,600 | 33,880 | 65,075 | 37,685 | 39,438 | 41,014 | 46,614 | 87,628 | 49,644 | 47,453 | - | 44,910 | 47,645 | 92,555 | 46,196 | 45,622 | 94,882 | 45,439 | 48,504 | 92,985 | 51,960 | 51,498 | 103,119 | 107,818 | 113,931 |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3,925 | - | 3,622 | 4,153 | - | 5,099 | 5,235 | - | - | - |
| EBIT 1 | 1,963 | 586 | 608 | 1,103 | 1,739 | 1,916 | 2,772 | 2,528 | 3,419 | 5,947 | 3,753 | 2,976 | - | 2,284 | 3,405 | 5,689 | 2,257 | 2,147 | 5,545 | 1,965 | 2,480 | 4,191 | 2,954 | 2,943 | 5,950 | 6,011 | 6,950 |
| Operating Margin | 3.28% | 0.98% | 1.13% | 3.26% | 2.67% | 5.08% | 7.03% | 6.16% | 7.33% | 6.79% | 7.56% | 6.27% | - | 5.09% | 7.15% | 6.15% | 4.89% | 4.71% | 5.84% | 4.32% | 5.11% | 4.51% | 5.68% | 5.71% | 5.77% | 5.58% | 6.1% |
| Earnings before Tax (EBT) 1 | 2,806 | - | 982 | 1,782 | 2,852 | 3,246 | 3,489 | 4,236 | - | 4,417 | 3,609 | - | - | 3,481 | 4,087 | 7,568 | 2,193 | 2,223 | - | 2,390 | 2,451 | - | 3,417 | 3,133 | - | - | - |
| Net income 1 | 2,102 | - | 650 | 1,408 | 2,361 | 2,756 | 2,785 | 3,589 | -791 | 2,798 | 3,528 | 1,488 | - | 3,409 | 2,643 | 6,052 | 1,953 | 1,696 | 3,647 | 1,897 | 1,946 | 3,843 | 2,719 | 2,491 | 5,210 | 5,299 | 6,010 |
| Net margin | 3.51% | - | 1.21% | 4.16% | 3.63% | 7.31% | 7.06% | 8.75% | -1.7% | 3.19% | 7.11% | 3.14% | - | 7.59% | 5.55% | 6.54% | 4.23% | 3.72% | 3.84% | 4.17% | 4.01% | 4.13% | 5.23% | 4.84% | 5.05% | 4.91% | 5.28% |
| EPS 2 | 30.20 | - | 9.500 | 20.59 | 34.52 | 40.28 | 40.70 | 52.46 | -11.55 | 40.91 | 51.56 | 21.75 | - | 49.84 | 38.63 | 88.47 | 28.54 | 14.56 | - | 24.81 | 28.82 | - | 35.20 | 36.40 | - | - | - |
| Dividend per Share | 12.00 | - | 12.00 | - | 13.00 | - | - | - | - | 14.00 | - | - | 16.00 | - | - | 16.00 | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/5/19 | 5/18/20 | 11/10/20 | 11/9/21 | 11/9/21 | 2/10/22 | 5/11/22 | 8/8/22 | 11/7/22 | 11/7/22 | 2/8/23 | 5/9/23 | 5/9/23 | 8/9/23 | 11/8/23 | 11/8/23 | 2/9/24 | - | - | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 4,795 | 7,264 | 7,794 | - | - | - |
| Net Cash position 1 | 935 | 8,167 | - | - | - | 12,348 | 13,845 | 16,044 |
| Leverage (Debt/EBITDA) | - | - | 0.7033 x | 0.582 x | 0.3855 x | - | - | - |
| Free Cash Flow 1 | -22,959 | 45 | 3,081 | -2,625 | -2,014 | 5,400 | 5,650 | 7,650 |
| ROE (net income / shareholders' equity) | -9.2% | 3.6% | 2.09% | 8.8% | 8.2% | 9.24% | 7.88% | 8.45% |
| ROA (Net income/ Total Assets) | 4.83% | 2.59% | 1.15% | 5.27% | 8.42% | 4.65% | 4.15% | 4.8% |
| Assets 1 | -164,813 | 108,409 | 147,714 | 149,930 | 92,780 | 197,234 | 206,407 | 203,328 |
| Book Value Per Share 2 | 1,137 | 1,105 | 1,274 | 1,351 | 1,445 | 1,565 | 1,658 | 1,767 |
| Cash Flow per Share 2 | -49.70 | 118.0 | 102.0 | 204.0 | 224.0 | 220.0 | 249.0 | 305.0 |
| Capex 1 | 7,922 | 6,886 | 5,922 | 7,889 | 11,200 | 13,397 | 10,000 | 9,667 |
| Capex / Sales | 6.45% | 5.75% | 5.1% | 5.55% | 6.06% | 7.26% | 5.17% | 4.69% |
| Announcement Date | 5/10/19 | 5/18/20 | 5/13/21 | 5/11/22 | 5/9/23 | - | - | - |
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
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
1,323
JPY
Average target price
1,478
JPY
Spread / Average Target
+11.72%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +1.93% | 575M | |
| -0.21% | 42.94B | |
| +148.96% | 4.73B | |
| +1.47% | 2.92B | |
| -6.30% | 2.7B | |
| +84.83% | 1.16B | |
| -3.89% | 1.04B | |
| -34.98% | 1.04B | |
| +61.96% | 1.03B | |
| -16.00% | 900M |
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- Financials Nichicon Corporation
