Stock 1475 NISSIN FOODS COMPANY LIMITED
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Financials Nissin Foods Company Limited

Equities

1475

HK0000376142

Food Processing

Market Closed - Hong Kong S.E.
Other stock markets
 04:08:20 2024-04-26 am EDT 		5-day change 1st Jan Change
5.02 HKD +0.80% Intraday chart for Nissin Foods Company Limited +2.03% -19.68%
Mar. 26 Nissin Foods Records Rise in 2023 Net Profit MT
Mar. 26 Nissin Foods Company Limited Proposes Final Ordinary Dividend for the Financial Year Ended 31 December 2023, Payable on June 27, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,649 6,853 6,255 6,982 6,523 5,239 - -
Enterprise Value (EV) 1 5,039 4,558 4,409 6,982 5,167 3,857 4,098 3,678
P/E ratio 26.5 x 22.7 x 20.8 x 22.1 x 19.8 x 14.7 x 13.7 x 12.6 x
Yield 1.89% 2.2% 2.44% - 2.53% 3.4% 3.64% 3.97%
Capitalization / Revenue 2.15 x 1.95 x 1.62 x 1.73 x 1.7 x 1.29 x 1.24 x 1.14 x
EV / Revenue 1.63 x 1.3 x 1.14 x 1.73 x 1.35 x 0.95 x 0.97 x 0.8 x
EV / EBITDA 11.2 x 8 x 7.3 x 11.5 x 8.5 x 7.27 x 7.31 x 5.89 x
EV / FCF 20.1 x 19.3 x 25.6 x - - 17 x 16.1 x 12.3 x
FCF Yield 4.97% 5.17% 3.91% - - 5.87% 6.22% 8.16%
Price to Book 1.85 x 1.76 x 1.6 x - 1.8 x 1.37 x 1.33 x 1.21 x
Nbr of stocks (in thousands) 1,074,144 1,074,139 1,047,748 1,043,639 1,043,666 1,043,655 - -
Reference price 2 6.190 6.380 5.970 6.690 6.250 5.020 5.020 5.020
Announcement Date 3/19/20 3/18/21 3/22/22 3/27/23 3/26/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,088 3,519 3,866 4,025 3,833 4,066 4,230 4,595
EBITDA 1 451.2 570 604.1 606.9 607.8 530.5 561 625
EBIT 1 358.1 453 456 496.7 483.9 446.7 485 508.5
Operating Margin 11.6% 12.87% 11.79% 12.34% 12.62% 10.99% 11.47% 11.07%
Earnings before Tax (EBT) 1 352.6 433.9 441.6 468.9 457 471.3 511 545
Net income 1 251 301.9 303.8 316.5 330.2 355.7 382.6 415
Net margin 8.13% 8.58% 7.86% 7.86% 8.61% 8.75% 9.05% 9.03%
EPS 2 0.2336 0.2810 0.2874 0.3032 0.3163 0.3413 0.3655 0.3985
Free Cash Flow 1 250.6 235.7 172.2 - - 226.4 255 300.2
FCF margin 8.11% 6.7% 4.45% - - 5.57% 6.03% 6.53%
FCF Conversion (EBITDA) 55.53% 41.35% 28.51% - - 42.69% 45.45% 48.04%
FCF Conversion (Net income) 99.84% 78.07% 56.69% - - 63.66% 66.64% 72.36%
Dividend per Share 2 0.1170 0.1405 0.1456 - 0.1582 0.1707 0.1828 0.1995
Announcement Date 3/19/20 3/18/21 3/22/22 3/27/23 3/26/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q3 2021 Q4 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3
Net sales 1 1,735 - 1,008 971.3 1,049 943.1 1,024 904.9 1,027
EBITDA - - - - - - - - -
EBIT 1 - - 135.8 91.26 107 126.1 154 85.71 140.7
Operating Margin - - 13.48% 9.39% 10.21% 13.37% 15.03% 9.47% 13.7%
Earnings before Tax (EBT) 1 - - - 110.6 109.9 114.6 149.8 - 137.8
Net income 1 178.4 - - 74.6 72.36 79.25 110.5 61.2 98.67
Net margin 10.28% - - 7.68% 6.9% 8.4% 10.79% 6.76% 9.61%
EPS 2 - 0.0565 - 0.0710 0.0693 0.0759 0.1059 - 0.0945
Dividend per Share - - - - - - - - -
Announcement Date 8/31/20 11/5/21 3/22/22 8/30/22 11/10/22 3/27/23 5/10/23 8/30/23 11/9/23
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,610 2,295 1,846 - 1,356 1,383 1,141 1,561
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 251 236 172 - - 226 255 300
ROE (net income / shareholders' equity) 7.1% 8.07% 7.74% - 9.19% 9.53% 9.67% 9.85%
ROA (Net income/ Total Assets) 5.53% 6.15% 5.82% - 7.11% 7.23% 7.35% 7.47%
Assets 1 4,538 4,909 5,222 - 4,642 4,920 5,205 5,559
Book Value Per Share 2 3.340 3.630 3.740 - 3.480 3.670 3.780 4.150
Cash Flow per Share 2 0.4300 0.4700 0.4100 - - 0.3300 0.3500 -
Capex 1 209 266 263 - - 279 258 240
Capex / Sales 6.77% 7.56% 6.8% - - 6.85% 6.11% 5.22%
Announcement Date 3/19/20 3/18/21 3/22/22 3/27/23 3/26/24 - - -
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Nissin Foods Company Limited

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
5.02 HKD
Average target price
6.008 HKD
Spread / Average Target
+19.67%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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