Financials Nintendo Co., Ltd.

Equities

7974

JP3756600007

Toys & Juvenile Products

Market Closed - Japan Exchange Other stock markets 12:00:00 09/12/2025 pm IST			5-day change	1st Jan Change
11,900.00 ^JPY	-3.41%		-8.92%	+28.45%

03/12	Kinder Joy®? and Nintendo®? Collab for A Limited-Edition Super Mario Collection	CI
30/11	AI helps drive record $11.8 billion in Black Friday online spending	RE

Projected Income Statement: Nintendo Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	17,58,910	16,95,344	16,01,677	16,71,865	11,64,922	23,51,956	25,86,918	27,68,657
Change	-	-3.61%	-5.52%	4.38%	-30.32%	101.9%	9.99%	7.03%
EBITDA ¹	6,51,432	6,03,287	5,15,415	5,46,797	2,97,914	4,34,510	6,18,144	7,35,167
Change	-	-7.39%	-14.57%	6.09%	-45.52%	45.85%	42.26%	18.93%
EBIT ¹	6,40,634	5,92,760	5,04,375	5,28,941	2,82,553	4,17,472	6,05,418	7,48,720
Change	-	-7.47%	-14.91%	4.87%	-46.58%	47.75%	45.02%	23.67%
Interest Paid ¹	-177	-281	-122	-166	-193	-1,050	-2,050	-2,050
Earnings before Tax (EBT) ¹	6,81,305	6,74,389	6,00,757	6,80,722	3,72,331	5,66,036	7,10,259	8,36,243
Change	-	-1.02%	-10.92%	13.31%	-45.3%	52.03%	25.48%	17.74%
Net income ¹	4,80,376	4,77,691	4,32,768	4,90,602	2,78,806	4,10,531	5,15,534	6,09,818
Change	-	-0.56%	-9.4%	13.36%	-43.17%	47.25%	25.58%	18.29%
Announcement Date	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-	-

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	2028 Q1	2028 Q2
Net sales ¹	6,34,939	3,54,447	3,22,647	3,01,625	6,95,947	3,75,125	3,07,460	3,49,514	6,38,204	3,06,499	4,61,341	3,34,896	5,98,559	2,77,069	2,46,638	2,76,661	4,32,919	2,08,704	5,72,363	5,27,202	8,45,392	4,40,334	4,48,488	4,77,921	8,93,711	4,19,730	4,73,450	5,05,592
Change	-	-44.18%	-8.97%	-6.52%	130.73%	-46.1%	-18.04%	13.68%	82.6%	-51.97%	50.52%	-27.41%	78.73%	-53.71%	-10.98%	12.17%	56.48%	-51.79%	174.25%	-7.89%	60.35%	-47.91%	1.85%	6.56%	87%	-53.04%	12.8%	6.79%
EBITDA ¹	2,31,124	1,22,224	-	1,01,712	2,54,124	1,26,295	1,03,121	2,21,982	-	-	1,92,456	98,322	1,87,779	-	57,807	70,399	-	39,276	61,188	-	1,82,417	57,789	79,337	83,067	2,34,098	77,334	1,03,183	1,02,301
Change	-	-47.12%	-	-	149.85%	-50.3%	-18.35%	115.26%	-	-	-	-48.91%	90.98%	-	-	21.78%	-	-	55.79%	-	-	-68.32%	37.29%	4.7%	181.82%	-66.97%	33.43%	-0.85%
EBIT ¹	2,29,684	1,19,526	1,19,752	1,00,207	2,52,592	1,20,209	1,01,647	1,18,740	1,90,154	93,834	1,85,441	94,469	1,84,500	64,531	54,510	67,003	1,26,084	34,956	56,928	88,253	1,80,896	75,650	96,744	1,06,808	2,73,224	1,05,392	1,15,016	1,24,076
Change	-	-47.96%	0.19%	-16.32%	152.07%	-52.41%	-15.44%	16.82%	60.14%	-50.65%	97.63%	-49.06%	95.3%	-65.02%	-15.53%	22.92%	88.18%	-72.28%	62.86%	55.03%	104.97%	-58.18%	27.88%	10.4%	155.81%	-61.43%	9.13%	7.88%
Charge d'intérêts	-	-	-62	-	-75	-	-	-	-	-	-32	-	-30	-	-50	-	-	-42	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	2,30,643	1,50,697	1,28,603	1,10,970	2,77,486	1,57,330	1,66,740	1,55,615	1,60,114	1,18,288	2,53,753	1,26,227	1,87,318	1,13,424	1,13,454	33,609	1,80,060	45,208	1,28,055	1,40,183	2,09,999	71,357	1,11,618	1,22,558	2,89,849	1,22,892	1,29,892	1,39,826
Change	-	-34.66%	-14.66%	-13.71%	150.05%	-43.3%	5.98%	-6.67%	2.89%	-26.12%	114.52%	-50.26%	48.4%	-39.45%	0.03%	-70.38%	435.75%	-74.89%	183.26%	9.47%	49.8%	-66.02%	56.42%	9.8%	136.5%	-57.6%	5.7%	7.65%
Net income ¹	1,63,542	1,03,711	92,747	79,087	1,95,553	1,10,304	1,18,984	1,11,467	1,15,776	86,541	1,81,019	90,279	1,36,743	82,561	80,954	27,704	1,28,531	41,617	96,032	1,02,904	1,51,962	60,966	78,773	86,491	2,04,514	86,760	91,619	98,673
Change	-	-36.58%	-10.57%	-14.73%	147.26%	-43.59%	7.87%	-6.32%	3.87%	-25.25%	109.17%	-50.13%	51.47%	-39.62%	-1.95%	-65.78%	363.94%	-67.62%	130.75%	7.16%	47.67%	-59.88%	29.21%	9.8%	136.46%	-57.58%	5.6%	7.7%
Announcement Date	01/02/21	06/05/21	05/08/21	04/11/21	03/02/22	10/05/22	03/08/22	08/11/22	07/02/23	09/05/23	03/08/23	07/11/23	06/02/24	07/05/24	02/08/24	05/11/24	04/02/25	08/05/25	01/08/25	04/11/25	-	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1	2026 S1
Net sales ¹	6,24,272	10,71,072	6,56,974	9,44,703	7,96,237	5,23,299	10,99,565
Change	-	71.57%	-38.66%	43.8%	-15.72%	-34.28%	110.12%
EBITDA	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-
EBIT ¹	2,19,959	3,72,801	2,20,387	2,83,988	2,79,910	1,21,513	1,45,181
Change	-	69.49%	-40.88%	28.86%	-1.44%	-56.59%	19.48%
Charge d'intérêts	-147	-	-	-	-63	-	-
Earnings before Tax (EBT) ¹	2,39,573	-	3,22,355	2,78,402	3,79,980	1,47,063	2,68,238
Change	-	-	-	-13.63%	36.49%	-61.3%	82.4%
Net income ¹	1,71,834	3,05,857	2,30,451	2,02,317	2,71,298	1,08,658	1,98,936
Change	-	78%	-24.65%	-12.21%	34.1%	-59.95%	83.08%
Announcement Date	04/11/21	10/05/22	08/11/22	09/05/23	07/11/23	05/11/24	04/11/25

¹JPY in Million

Estimates

Forecast Balance Sheet: Nintendo Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-17,42,389	-12,06,506	-12,63,666	-22,52,705	-20,58,190	-22,13,951	-21,99,260	-23,68,693
Change	-	30.76%	-4.74%	-78.27%	8.63%	-7.57%	0.66%	-7.7%
Announcement Date	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Nintendo Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	17,912	16,766	22,190	16,123	19,008	21,395	26,357	26,546
Change	-	-6.4%	32.35%	-27.34%	17.89%	12.56%	23.19%	0.72%
Free Cash Flow (FCF) ¹	5,94,194	3,83,360	1,78,154	4,45,974	-6,939	4,59,179	4,02,001	5,86,084
Change	-	-35.48%	-53.53%	150.33%	-101.56%	6,717.37%	-12.45%	45.79%
Announcement Date	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Nintendo Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	37.04%	35.58%	32.18%	32.71%	25.57%	18.47%	23.89%	26.55%
EBIT Margin (%)	36.42%	34.96%	31.49%	31.64%	24.26%	17.75%	23.4%	27.04%
EBT Margin (%)	38.73%	39.78%	37.51%	40.72%	31.96%	24.07%	27.46%	30.2%
Net margin (%)	27.31%	28.18%	27.02%	29.34%	23.93%	17.45%	19.93%	22.03%
FCF margin (%)	33.78%	22.61%	11.12%	26.68%	-0.6%	19.52%	15.54%	21.17%
FCF / Net Income (%)	123.69%	80.25%	41.17%	90.9%	-2.49%	111.85%	77.98%	96.11%
Profitability
ROA	31%	26.26%	21.79%	22.66%	11.37%	11%	13.52%	14.79%
ROE	28.1%	24.2%	20%	20.1%	10.5%	13.81%	15.94%	17.3%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	1.02%	0.99%	1.39%	0.96%	1.63%	0.91%	1.02%	0.96%
CAPEX / EBITDA (%)	2.75%	2.78%	4.31%	2.95%	6.38%	4.92%	4.26%	3.61%
CAPEX / FCF (%)	3.01%	4.37%	12.46%	3.62%	-273.93%	4.66%	6.56%	4.53%
Items per share
Cash flow per share ¹	412.3	413.6	380.9	436.7	252.7	726.7	334.2	433.4
Change	-	0.31%	-7.91%	14.66%	-42.15%	187.59%	-54%	29.66%
Dividend per Share ¹	222	203	186	211	120	205.5	246.1	301.8
Change	-	-8.56%	-8.37%	13.44%	-43.13%	71.26%	19.73%	22.66%
Book Value Per Share ¹	1,573	1,764	1,947	2,236	2,340	2,481	2,723	2,974
Change	-	12.08%	10.38%	14.89%	4.63%	6.02%	9.75%	9.23%
EPS ¹	403.3	404.7	371.4	421.4	239.5	349.9	440.9	521.2
Change	-	0.35%	-8.22%	13.46%	-43.17%	46.1%	26.01%	18.21%
Nbr of stocks (in thousands)	11,91,232	11,73,222	11,64,229	11,64,239	11,64,248	11,64,259	11,64,259	11,64,259
Announcement Date	06/05/21	10/05/22	09/05/23	07/05/24	08/05/25	-	-	-