Financials NEC Corporation

Stocks

6701

JP3733000008

IT Services & Consulting

Market Closed - Japan Exchange Other stock markets 12:00:00 16/06/2026 pm IST			5-day change	1st Jan Change
3,849.00 ^JPY	+0.05%		-6.03%	-27.51%

14/06	UK, Japan agree tech partnership and vow fighter jet progress	RE
04/06	Intermedia Intelligent Communications, Kddi Corporation, and Nec Corporation Launch Cloud Calling for Univerge Blue	CI

Projected Income Statement: NEC Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	29,94,023	30,14,095	33,13,018	34,77,262	34,23,400	35,82,733	36,94,036	38,78,097
Change	-	0.67%	9.92%	4.96%	-1.55%	4.65%	3.11%	4.98%
EBITDA ¹	3,21,372	3,13,064	3,53,745	3,75,712	4,41,600	5,14,415	5,77,045	6,31,186
Change	-	-2.59%	12.99%	6.21%	17.54%	16.49%	12.17%	9.38%
EBIT ¹	1,53,759	1,32,525	1,70,447	1,88,012	2,56,500	3,59,913	4,20,552	4,74,777
Change	-	-13.81%	28.61%	10.31%	36.43%	40.32%	16.85%	12.89%
Interest Paid ¹	-10,613	-11,367	-17,624	-18,072	-6,623	-6,650	-14,800	-14,900
Earnings before Tax (EBT) ¹	1,57,831	1,44,436	1,67,671	1,85,011	2,39,771	3,98,175	4,15,022	4,71,610
Change	-	-8.49%	16.09%	10.34%	29.6%	66.06%	4.23%	13.63%
Net income ¹	1,49,606	1,41,277	1,14,500	1,49,521	1,75,183	2,70,228	2,87,629	3,25,951
Change	-	-5.57%	-18.95%	30.59%	17.16%	54.25%	6.44%	13.32%
Announcement Date	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	28/04/26	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	7,29,406	9,49,587	6,51,941	7,30,864	7,13,551	9,17,739	6,59,669	7,95,702	8,13,888	10,43,759	7,06,542	8,42,259	8,44,475	10,83,986	6,90,296	7,96,380	8,35,133	11,01,600	7,15,700	8,54,121	8,52,538	11,48,696	7,32,333	8,67,500	8,92,167	11,71,000
Change	-	30.19%	-31.34%	12.11%	-2.37%	28.62%	-28.12%	20.62%	2.29%	28.24%	-32.31%	19.21%	0.26%	28.36%	-36.32%	15.37%	4.87%	31.91%	-35.03%	19.34%	-0.19%	34.74%	-36.25%	18.46%	2.84%	31.25%
EBITDA	1,03,187	1,18,739	46,610	59,890	69,818	1,36,746	28,862	74,836	91,594	1,58,453	37,930	83,239	90,027	1,64,516	44,771	-	-	1,87,100	-	-	-	-	-	-	-	-
Change	-	15.07%	-60.75%	28.49%	16.58%	95.86%	-78.89%	159.29%	22.39%	72.99%	-76.06%	119.45%	8.15%	82.74%	-72.79%	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	62,402	71,384	1,133	22,072	24,057	85,263	-15,341	29,208	43,232	1,13,348	-8,125	36,120	41,820	1,18,197	4,540	40,153	81,473	1,30,300	35,389	83,181	66,591	1,56,016	38,442	91,358	96,692	1,97,500
Change	-	14.39%	-98.41%	1,848.1%	8.99%	254.42%	-117.99%	290.39%	48.01%	162.19%	-107.17%	544.55%	15.78%	182.63%	-96.16%	784.43%	102.91%	59.93%	-72.84%	135.05%	-19.94%	134.29%	-75.36%	137.65%	5.84%	104.26%
Charge d'intérêts	-2,118	-	-2,968	-	-2,517	-	-2,041	-	-7,156	-	-2,917	-	-6,579	-	-3,667	-	-	-	-7,660	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	66,410	72,058	2,944	22,814	23,327	95,351	-6,647	30,758	33,492	1,10,068	-2,463	34,440	36,177	1,16,857	-3,323	-	87,652	-	32,103	83,331	1,01,337	1,55,400	43,000	84,000	95,000	1,93,000
Change	-	8.5%	-95.91%	674.93%	2.25%	308.76%	-106.97%	562.74%	8.89%	228.64%	-102.24%	1,498.29%	5.04%	223.01%	-102.84%	-	-	-	-	159.57%	21.61%	53.35%	-72.33%	95.35%	13.1%	103.16%
Net income ¹	43,528	95,070	226	13,116	11,591	1,16,344	-13,862	17,835	22,396	88,131	-7,388	20,302	21,126	1,15,481	-5,836	19,296	58,094	1,03,629	19,310	53,520	69,448	1,20,190	26,975	62,706	66,922	1,39,469
Change	-	118.41%	-99.76%	5,703.54%	-11.63%	903.74%	-111.91%	228.66%	25.57%	293.51%	-108.38%	374.8%	4.06%	446.63%	-105.05%	430.64%	201.07%	78.38%	-81.37%	177.16%	29.76%	73.06%	-77.56%	132.46%	6.72%	108.41%
Announcement Date	29/01/21	12/05/21	30/07/21	29/10/21	31/01/22	28/04/22	28/07/22	28/10/22	30/01/23	28/04/23	28/07/23	30/10/23	30/01/24	26/04/24	30/07/24	29/10/24	30/01/25	28/04/25	29/07/25	29/10/25	29/01/26	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2026 S1	2026 S2	2027 S1	2027 S2
Net sales ¹	13,82,805	16,31,290	14,55,371	18,57,647	15,48,801	19,28,461	14,86,676	15,69,779	20,12,954	15,71,100	21,07,800
Change	-	17.97%	-10.78%	27.64%	-16.63%	24.51%	-22.91%	5.59%	28.23%	-21.95%	34.16%
EBITDA	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	23,205	1,09,320	13,867	1,56,580	27,995	1,60,017	44,693	1,18,570	2,41,343	1,27,000	-
Change	-	371.11%	-87.32%	1,029.16%	-82.12%	471.59%	-72.07%	165.3%	103.54%	-47.38%	-
Charge d'intérêts	-6,258	-	-4,115	-	-6,095	-	-10,729	-10,921	-	-	-
Earnings before Tax (EBT) ¹	25,758	1,18,678	24,111	1,43,560	31,977	1,53,034	26,677	1,15,434	2,82,741	1,27,000	-
Change	-	360.74%	-79.68%	495.41%	-77.73%	378.58%	-82.57%	332.71%	144.94%	-55.08%	-
Net income ¹	13,342	1,27,935	3,973	1,10,527	12,914	1,36,607	13,460	72,830	1,97,398	87,000	-
Change	-	858.89%	-96.89%	2,681.95%	-88.32%	957.82%	-90.15%	441.08%	171.04%	-55.93%	-
Announcement Date	29/10/21	28/04/22	28/10/22	28/04/23	30/10/23	26/04/24	29/10/24	29/10/25	28/04/26	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: NEC Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	1,79,511	1,49,044	1,26,187	56,425	81,744	-1,14,627	-3,04,152	-4,32,558
Change	-	-16.97%	-15.34%	-55.28%	44.87%	-240.23%	-165.34%	-42.22%
Announcement Date	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	28/04/26	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: NEC Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	70,936	71,106	77,714	96,499	1,50,625	91,556	1,07,287	1,07,917
Change	-	0.24%	9.29%	24.17%	56.09%	-39.22%	-4.62%	0.59%
Free Cash Flow (FCF) ¹	1,52,416	84,140	1,02,536	1,74,729	2,13,244	4,04,777	3,09,396	3,18,181
Change	-	-44.8%	21.86%	70.41%	22.04%	89.82%	68.22%	2.84%
Announcement Date	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	28/04/26	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: NEC Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	10.73%	10.39%	10.68%	10.8%	12.9%	14.36%	15.62%	16.28%
EBIT Margin (%)	5.14%	4.4%	5.14%	5.41%	7.49%	10.05%	11.38%	12.24%
EBT Margin (%)	5.27%	4.79%	5.06%	5.32%	7%	11.11%	11.23%	12.16%
Net margin (%)	5%	4.69%	3.46%	4.3%	5.12%	7.54%	7.79%	8.4%
FCF margin (%)	5.09%	2.79%	3.09%	5.02%	6.23%	11.3%	8.38%	8.2%
FCF / Net Income (%)	101.88%	59.56%	89.55%	116.86%	121.73%	149.79%	107.57%	97.62%
Profitability
ROA	4.65%	3.89%	4.33%	4.51%	5.61%	9.07%	6.92%	7.4%
ROE	13.5%	10%	7.3%	8.4%	9.1%	13%	12.4%	12.66%
Financial Health
Leverage (Debt/EBITDA)	0.56x	0.48x	0.36x	0.15x	0.19x	-	-	-
Debt / Free cash flow	1.18x	1.77x	1.23x	0.32x	0.38x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.37%	2.36%	2.35%	2.78%	4.4%	2.56%	2.9%	2.78%
CAPEX / EBITDA (%)	22.07%	22.71%	21.97%	25.68%	34.11%	17.8%	18.59%	17.1%
CAPEX / FCF (%)	46.54%	84.51%	75.79%	55.23%	70.64%	22.62%	34.68%	33.92%
Items per share
Cash flow per share ¹	236.3	236.2	220.8	253.2	250.4	319	338.7	339.4
Change	-	-0.02%	-6.53%	14.65%	-1.08%	27.38%	32.26%	0.22%
Dividend per Share ¹	18	20	22	24	28	38	42.54	48.54
Change	-	11.11%	10%	9.09%	16.67%	35.71%	30.56%	14.1%
Book Value Per Share ¹	960.1	1,111	1,219	1,438	1,465	1,656	1,822	1,998
Change	-	15.71%	9.75%	17.92%	1.87%	13.07%	13.17%	9.69%
EPS ¹	111.4	103.7	84.9	112.2	131.5	203	215.8	245.1
Change	-	-6.93%	-18.13%	32.21%	17.15%	54.33%	15.68%	13.56%
Nbr of stocks (in thousands)	13,62,479	13,62,288	13,31,749	13,32,286	13,32,707	13,26,344	13,26,344	13,26,344
Announcement Date	12/05/21	28/04/22	28/04/23	26/04/24	28/04/25	28/04/26	-	-