NIPPON ELECTRIC GLASS CO., LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,713 JPY | -0.30% |
|
-1.82% | +22.50% |
| 04/04 | Glass Acoustic Innovations Ltd. Announces Strategic Partnership with Nippon Electric Glass Co., Ltd | CI |
| 29/03 | Nippon Electric Glass Earmarks Treasury Shares Worth 37 Million Yen for Directors | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,35,846 | 2,18,023 | 2,74,338 | 2,18,092 | 2,74,498 | 3,21,495 | - | - |
| Enterprise Value (EV) 1 | 2,32,815 | 1,98,270 | 2,34,185 | 2,14,466 | 3,17,440 | 3,40,287 | 3,66,180 | 4,11,949 |
| P/E ratio | -7 x | 14.3 x | 10.1 x | 7.74 x | -10.7 x | 11.4 x | 16.6 x | 14.4 x |
| Yield | 4.1% | 4.43% | 3.73% | 5.12% | 3.96% | 3.5% | 3.82% | 3.99% |
| Capitalization / Revenue | 0.92 x | 0.9 x | 0.94 x | 0.67 x | 0.98 x | 1.05 x | 1 x | 0.95 x |
| EV / Revenue | 0.91 x | 0.82 x | 0.8 x | 0.66 x | 1.13 x | 1.11 x | 1.14 x | 1.22 x |
| EV / EBITDA | 5.23 x | 4.66 x | 3.94 x | 3.89 x | 11.9 x | 8.03 x | 7.42 x | 7.62 x |
| EV / FCF | 158 x | 7.06 x | 6.14 x | - | -14.3 x | 9.92 x | 22.3 x | 25.9 x |
| FCF Yield | 0.63% | 14.2% | 16.3% | - | -6.97% | 10.1% | 4.48% | 3.86% |
| Price to Book | 0.5 x | 0.46 x | 0.55 x | 0.42 x | 0.55 x | 0.65 x | 0.64 x | 0.62 x |
| Nbr of stocks (in thousands) | 96,619 | 96,641 | 93,027 | 93,043 | 90,564 | 86,586 | - | - |
| Reference price 2 | 2,441 | 2,256 | 2,949 | 2,344 | 3,031 | 3,713 | 3,713 | 3,713 |
| Announcement Date | 05/02/20 | 02/02/21 | 02/02/22 | 03/02/23 | 05/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,57,189 | 2,42,886 | 2,92,033 | 3,24,634 | 2,79,974 | 3,05,860 | 3,21,400 | 3,37,480 |
| EBITDA 1 | 44,513 | 42,591 | 59,500 | 55,146 | 26,765 | 42,400 | 49,375 | 54,075 |
| EBIT 1 | 15,937 | 17,660 | 32,779 | 26,184 | -10,420 | 16,380 | 22,140 | 26,760 |
| Operating Margin | 6.2% | 7.27% | 11.22% | 8.07% | -3.72% | 5.36% | 6.89% | 7.93% |
| Earnings before Tax (EBT) 1 | -19,268 | 19,896 | 39,139 | 39,517 | -28,612 | 37,820 | 24,900 | 27,840 |
| Net income 1 | -33,669 | 15,252 | 27,904 | 28,167 | -26,188 | 27,840 | 18,320 | 20,340 |
| Net margin | -13.09% | 6.28% | 9.56% | 8.68% | -9.35% | 9.1% | 5.7% | 6.03% |
| EPS 2 | -348.5 | 157.8 | 291.0 | 302.8 | -282.9 | 326.5 | 223.4 | 257.9 |
| Free Cash Flow 1 | 1,477 | 28,102 | 38,127 | - | -22,137 | 34,304 | 16,407 | 15,896 |
| FCF margin | 0.57% | 11.57% | 13.06% | - | -7.91% | 11.22% | 5.1% | 4.71% |
| FCF Conversion (EBITDA) | 3.32% | 65.98% | 64.08% | - | - | 80.9% | 33.23% | 29.4% |
| FCF Conversion (Net income) | - | 184.25% | 136.64% | - | - | 123.22% | 89.56% | 78.15% |
| Dividend per Share 2 | 100.0 | 100.0 | 110.0 | 120.0 | 120.0 | 130.0 | 142.0 | 148.0 |
| Announcement Date | 05/02/20 | 02/02/21 | 02/02/22 | 03/02/23 | 05/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,23,823 | 1,15,381 | 1,27,505 | 1,42,344 | 75,162 | 74,527 | 1,49,689 | 85,991 | 86,780 | 1,72,771 | 78,431 | 73,432 | 1,51,863 | 67,922 | 71,256 | 1,39,178 | 70,191 | 70,605 | 76,656 | 77,533 | 1,49,000 | 78,067 | 81,100 | 1,58,250 | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 6,645 | 7,767 | 9,893 | 15,332 | 9,417 | 8,030 | 17,447 | 10,515 | 8,642 | 19,157 | 4,097 | 2,930 | 7,027 | -1,941 | -3,801 | -5,742 | -804 | -3,874 | 765 | 3,122 | 4,133 | 5,131 | 6,256 | 11,750 | - | - |
| Operating Margin | 5.37% | 6.73% | 7.76% | 10.77% | 12.53% | 10.77% | 11.66% | 12.23% | 9.96% | 11.09% | 5.22% | 3.99% | 4.63% | -2.86% | -5.33% | -4.13% | -1.15% | -5.49% | 1% | 4.03% | 2.77% | 6.57% | 7.71% | 7.42% | - | - |
| Earnings before Tax (EBT) | - | 9,384 | - | 19,691 | 9,608 | 9,840 | - | 20,521 | 14,129 | 34,650 | 5,009 | - | - | 1,714 | - | -14,086 | -125 | - | 27,483 | - | - | - | - | - | - | - |
| Net income 1 | -39,163 | 6,824 | 8,428 | 13,533 | 7,282 | 7,089 | 14,371 | 14,289 | 10,128 | 24,417 | 4,768 | - | - | 846 | - | -15,711 | -520 | - | 19,616 | 2,100 | 18,350 | 3,300 | 6,000 | 9,000 | - | - |
| Net margin | -31.63% | 5.91% | 6.61% | 9.51% | 9.69% | 9.51% | 9.6% | 16.62% | 11.67% | 14.13% | 6.08% | - | - | 1.25% | - | -11.29% | -0.74% | - | 25.59% | 2.71% | 12.32% | 4.23% | 7.4% | 5.69% | - | - |
| EPS | -405.4 | 70.62 | 87.22 | 140.0 | 75.34 | 75.61 | 151.0 | 153.6 | 108.8 | 262.5 | 51.24 | - | - | 9.090 | - | -168.8 | -5.590 | - | 224.6 | - | - | - | - | - | - | - |
| Dividend per Share | - | 50.00 | 50.00 | 50.00 | - | - | - | - | - | 60.00 | - | - | 60.00 | - | - | 60.00 | - | - | - | - | 65.00 | - | - | 65.00 | 70.00 | 70.00 |
| Announcement Date | 05/02/20 | 30/07/20 | 02/02/21 | 29/07/21 | 29/10/21 | 02/02/22 | 02/02/22 | 28/04/22 | 29/07/22 | 29/07/22 | 31/10/22 | 03/02/23 | 03/02/23 | 28/04/23 | 31/07/23 | 31/07/23 | 30/10/23 | 05/02/24 | 30/04/24 | - | - | - | - | - | - | - |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 42,942 | 18,792 | 44,685 | 90,454 |
| Net Cash position 1 | 3,031 | 19,753 | 40,153 | 3,626 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | 1.604 x | 0.4432 x | 0.905 x | 1.673 x |
| Free Cash Flow 1 | 1,477 | 28,102 | 38,127 | - | -22,137 | 34,304 | 16,407 | 15,896 |
| ROE (net income / shareholders' equity) | -6.8% | 3.2% | 5.8% | 5.5% | -5.2% | 5.8% | 3.82% | 4.33% |
| ROA (Net income/ Total Assets) | 2.21% | 2.89% | 6.63% | 4.71% | -1.31% | 3.1% | 3.15% | 3.54% |
| Assets 1 | -15,22,554 | 5,27,957 | 4,20,700 | 5,97,958 | 20,05,299 | 8,98,065 | 5,81,126 | 5,74,657 |
| Book Value Per Share 2 | 4,886 | 4,886 | 5,322 | 5,636 | 5,464 | 5,686 | 5,817 | 5,966 |
| Cash Flow per Share 2 | -52.70 | 416.0 | 570.0 | 614.0 | 119.0 | 654.0 | 570.0 | 665.0 |
| Capex 1 | 20,160 | 25,171 | 35,058 | 68,024 | 29,095 | 30,300 | 32,080 | 32,300 |
| Capex / Sales | 7.84% | 10.36% | 12% | 20.95% | 10.39% | 9.91% | 9.98% | 9.57% |
| Announcement Date | 05/02/20 | 02/02/21 | 02/02/22 | 03/02/23 | 05/02/24 | - | - | - |
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
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
3,713
JPY
Average target price
3,976
JPY
Spread / Average Target
+7.08%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +22.50% | 2.09B | |
| +11.65% | 109B | |
| -4.18% | 28.24B | |
| +11.79% | 22.19B | |
| -13.98% | 18.29B | |
| -7.70% | 17.4B | |
| +14.11% | 16.08B | |
| -9.46% | 11.55B | |
| -1.88% | 10.45B | |
| -2.81% | 9.65B |
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