NIPPON STEEL CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,444 JPY | +0.44% |
|
+0.94% | +6.63% |
| 25/04 | Top deals in the global mining sector | RE |
| 23/04 | Materials Decline After Earnings -- Materials Roundup | DJ |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 17,24,588 | 8,52,007 | 17,37,026 | 19,98,946 | 28,73,054 | 31,72,078 | - | - |
| Enterprise Value (EV) 1 | 39,13,728 | 30,51,289 | 39,36,792 | 41,01,246 | 49,01,994 | 54,11,272 | 52,45,656 | 49,37,161 |
| P/E ratio | 6.93 x | -1.97 x | -53.6 x | 3.14 x | 4.14 x | 6.71 x | 6.62 x | 5.39 x |
| Yield | 4.09% | 1.08% | 0.53% | 7.37% | 5.77% | 4.65% | 4.63% | 5.32% |
| Capitalization / Revenue | 0.28 x | 0.14 x | 0.36 x | 0.29 x | 0.36 x | 0.35 x | 0.34 x | 0.32 x |
| EV / Revenue | 0.63 x | 0.52 x | 0.82 x | 0.6 x | 0.61 x | 0.6 x | 0.57 x | 0.5 x |
| EV / EBITDA | 5.81 x | 272 x | 9.82 x | 3.18 x | 4.01 x | 4.77 x | 4.53 x | 3.62 x |
| EV / FCF | 55.5 x | 20.5 x | 278 x | 17.3 x | 25.6 x | -64.5 x | -9.03 x | 11.4 x |
| FCF Yield | 1.8% | 4.87% | 0.36% | 5.77% | 3.9% | -1.55% | -11.1% | 8.8% |
| Price to Book | 0.56 x | 0.32 x | 0.63 x | 0.58 x | 0.69 x | 0.7 x | 0.66 x | 0.61 x |
| Nbr of stocks (in thousands) | 8,82,594 | 9,20,690 | 9,20,767 | 9,20,749 | 9,20,851 | 9,21,045 | - | - |
| Reference price 2 | 1,954 | 925.4 | 1,886 | 2,171 | 3,120 | 3,444 | 3,444 | 3,444 |
| Announcement Date | 09/05/19 | 08/05/20 | 07/05/21 | 10/05/22 | 10/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 61,77,947 | 59,21,525 | 48,29,272 | 68,08,890 | 79,75,586 | 90,04,170 | 92,62,313 | 98,63,705 |
| EBITDA 1 | 6,73,727 | 11,220 | 4,00,900 | 12,90,200 | 12,23,817 | 11,35,382 | 11,58,615 | 13,64,981 |
| EBIT 1 | 2,65,111 | -4,06,119 | 11,381 | 8,40,901 | 8,83,646 | 7,30,653 | 7,41,100 | 9,07,420 |
| Operating Margin | 4.29% | -6.86% | 0.24% | 12.35% | 11.08% | 8.11% | 8% | 9.2% |
| Earnings before Tax (EBT) 1 | 2,48,769 | -4,23,572 | -8,656 | 8,16,583 | 8,66,849 | 6,92,320 | 7,08,036 | 8,43,761 |
| Net income 1 | 2,51,169 | -4,31,513 | -32,432 | 6,37,321 | 6,94,016 | 4,70,754 | 4,87,381 | 5,79,219 |
| Net margin | 4.07% | -7.29% | -0.67% | 9.36% | 8.7% | 5.23% | 5.26% | 5.87% |
| EPS 2 | 281.8 | -468.7 | -35.22 | 692.2 | 753.7 | 513.5 | 520.6 | 638.5 |
| Free Cash Flow 1 | 70,536 | 1,48,703 | 14,150 | 2,36,700 | 1,91,256 | -83,916 | -5,80,760 | 4,34,540 |
| FCF margin | 1.14% | 2.51% | 0.29% | 3.48% | 2.4% | -0.93% | -6.27% | 4.41% |
| FCF Conversion (EBITDA) | 10.47% | 1,325.34% | 3.53% | 18.35% | 15.63% | - | - | 31.83% |
| FCF Conversion (Net income) | 28.08% | - | - | 37.14% | 27.56% | - | - | 75.02% |
| Dividend per Share 2 | 80.00 | 10.00 | 10.00 | 160.0 | 180.0 | 160.0 | 159.5 | 183.3 |
| Announcement Date | 09/05/19 | 08/05/20 | 07/05/21 | 10/05/22 | 10/05/23 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 2020 S1 | 2021 S1 | 2021 S2 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2022 S2 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 30,47,183 | 22,41,992 | 25,87,280 | 16,60,792 | 31,63,943 | 17,78,538 | 18,66,409 | 36,44,947 | 19,19,181 | 19,55,225 | 38,74,406 | 20,87,276 | 20,13,904 | 41,01,180 | 21,99,786 | 22,12,635 | 44,12,421 | 22,29,395 | 24,28,884 | 48,62,600 | 22,42,660 | 24,24,726 | 49,06,500 | 23,26,735 | 26,38,545 | 55,72,500 |
| EBITDA 1 | - | - | - | 3,42,200 | - | 3,50,100 | 3,00,800 | - | 4,20,432 | 2,86,500 | - | 3,05,900 | 2,10,957 | - | 3,35,998 | - | - | 2,90,200 | 4,72,368 | - | 3,38,285 | 3,47,605 | - | 3,50,434 | 1,62,387 | - |
| EBIT 1 | 73,100 | -1,48,810 | 1,60,191 | 1,72,057 | 4,28,398 | 2,99,738 | 1,12,765 | - | 3,38,873 | 2,02,879 | 5,41,752 | 2,20,092 | 1,21,802 | 3,41,894 | 2,48,700 | 1,75,094 | 4,23,794 | 1,94,889 | 81,659 | - | 2,24,929 | 2,19,589 | - | 2,36,003 | 1,06,980 | - |
| Operating Margin | 2.4% | -6.64% | 6.19% | 10.36% | 13.54% | 16.85% | 6.04% | - | 17.66% | 10.38% | 13.98% | 10.54% | 6.05% | 8.34% | 11.31% | 7.91% | 9.6% | 8.74% | 3.36% | - | 10.03% | 9.06% | - | 10.14% | 4.05% | - |
| Earnings before Tax (EBT) 1 | 64,471 | -1,59,678 | 1,51,022 | 1,65,518 | 4,15,900 | 2,93,875 | 1,06,808 | - | 3,34,014 | 1,98,493 | 5,32,507 | 2,15,774 | 1,18,568 | - | 2,44,793 | 1,71,249 | 4,16,042 | 1,92,043 | 1,01,958 | - | 1,95,000 | 1,75,000 | - | 2,05,000 | 1,35,000 | - |
| Net income 1 | 38,750 | -1,91,164 | 1,58,732 | 1,36,598 | 2,98,727 | 2,09,167 | 1,29,427 | - | 2,30,972 | 1,41,400 | 3,72,372 | 1,44,772 | 1,76,872 | - | 1,77,064 | 1,23,171 | 3,00,235 | 1,40,679 | 39,213 | - | 1,17,305 | 1,19,307 | - | 1,19,898 | 1,51,042 | - |
| Net margin | 1.27% | -8.53% | 6.14% | 8.22% | 9.44% | 11.76% | 6.93% | - | 12.03% | 7.23% | 9.61% | 6.94% | 8.78% | - | 8.05% | 5.57% | 6.8% | 6.31% | 1.61% | - | 5.23% | 4.92% | - | 5.15% | 5.72% | - |
| EPS 2 | 42.09 | -207.6 | 172.4 | 148.4 | 324.4 | 227.2 | 140.6 | - | 250.8 | 153.6 | 404.4 | 157.2 | 192.1 | - | 192.3 | 133.8 | 326.0 | 152.8 | 32.09 | - | 113.6 | 118.0 | - | 119.2 | 208.6 | - |
| Dividend per Share 2 | 10.00 | - | - | 70.00 | 70.00 | - | 90.00 | - | - | 90.00 | 90.00 | - | 90.00 | - | - | 75.00 | 75.00 | - | 85.00 | - | - | 85.00 | - | - | 85.00 | - |
| Announcement Date | 01/11/19 | 06/11/20 | 07/05/21 | 02/11/21 | 02/11/21 | 03/02/22 | 10/05/22 | 10/05/22 | 04/08/22 | 01/11/22 | 01/11/22 | 09/02/23 | 10/05/23 | 10/05/23 | 04/08/23 | 01/11/23 | 01/11/23 | 07/02/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 21,89,140 | 21,99,282 | 21,99,766 | 21,02,300 | 20,28,940 | 22,39,194 | 20,73,578 | 17,65,083 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.249 x | 196 x | 5.487 x | 1.629 x | 1.658 x | 1.972 x | 1.79 x | 1.293 x |
| Free Cash Flow 1 | 70,536 | 1,48,703 | 14,150 | 2,36,700 | 1,91,256 | -83,916 | -5,80,760 | 4,34,540 |
| ROE (net income / shareholders' equity) | 7.9% | -14.7% | -1.2% | 20.5% | 18.1% | 10.8% | 10.3% | 11.6% |
| ROA (Net income/ Total Assets) | 3.18% | -5.47% | -0.12% | 10% | 9.46% | 5.27% | 5.13% | 6.43% |
| Assets 1 | 78,96,435 | 78,92,486 | 2,81,35,681 | 63,71,114 | 73,33,453 | 89,38,365 | 94,94,435 | 90,03,403 |
| Book Value Per Share 2 | 3,510 | 2,869 | 2,998 | 3,765 | 4,541 | 4,889 | 5,250 | 5,692 |
| Cash Flow per Share 2 | 740.0 | -15.40 | 281.0 | 1,051 | 1,123 | 644.0 | 921.0 | 942.0 |
| Capex 1 | 4,38,758 | 4,60,555 | 4,59,811 | 4,66,902 | 4,70,018 | 4,43,598 | 4,70,731 | 5,12,284 |
| Capex / Sales | 7.1% | 7.78% | 9.52% | 6.86% | 5.89% | 4.93% | 5.08% | 5.19% |
| Announcement Date | 09/05/19 | 08/05/20 | 07/05/21 | 10/05/22 | 10/05/23 | - | - | - |
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
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
3,444
JPY
Average target price
4,160
JPY
Spread / Average Target
+20.79%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.63% | 20.15B | |
| +0.79% | 42.1B | |
| +18.89% | 24.83B | |
| -21.02% | 21.75B | |
| +13.50% | 21.17B | |
| -7.50% | 20.77B | |
| +6.81% | 9.44B | |
| -12.44% | 8.5B | |
| -23.08% | 8.41B | |
| +36.31% | 8.35B |
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- Financials Nippon Steel Corporation
