NISHIMATSU CONSTRUCTION CO., LTD. |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,516 JPY | +0.36% |
|
+2.29% | +15.00% |
| 20/06 | Singapore's Land Transport Authority Awards SG$242 Million Contract to Japanese JV | MT |
| 08/02 | Nishimatsu Construction's Attributable Profit Rises 17.3% in Fiscal Nine Months | MT |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,34,187 | 1,13,288 | 1,53,601 | 2,00,748 | 1,35,194 | 1,77,619 | - | - |
| Enterprise Value (EV) 1 | 1,88,753 | 1,88,738 | 2,24,871 | 3,13,666 | 2,50,877 | 3,05,857 | 3,17,203 | 3,21,503 |
| P/E ratio | 7.14 x | 6.05 x | 8.95 x | 11.8 x | 14 x | 14.2 x | 12.6 x | 10.3 x |
| Yield | 4.28% | 5.07% | 3.74% | 6.02% | 6.45% | 4.93% | 5.04% | 5.3% |
| Capitalization / Revenue | 0.38 x | 0.29 x | 0.46 x | 0.62 x | 0.4 x | 0.44 x | 0.48 x | 0.44 x |
| EV / Revenue | 0.54 x | 0.48 x | 0.67 x | 0.97 x | 0.74 x | 0.76 x | 0.87 x | 0.8 x |
| EV / EBITDA | 6.96 x | 6.76 x | 9.25 x | 11.5 x | 15.1 x | 13.4 x | 12.3 x | 10.9 x |
| EV / FCF | -5.11 x | -31.3 x | 22 x | 16.8 x | 30.3 x | -31.3 x | 302 x | -292 x |
| FCF Yield | -19.6% | -3.19% | 4.54% | 5.97% | 3.3% | -3.2% | 0.33% | -0.34% |
| Price to Book | 0.68 x | 0.58 x | 0.75 x | 0.96 x | 0.91 x | 1.04 x | 1.07 x | 1.03 x |
| Nbr of stocks (in thousands) | 54,703 | 54,702 | 54,701 | 54,700 | 39,473 | 39,471 | - | - |
| Reference price 2 | 2,453 | 2,071 | 2,808 | 3,670 | 3,425 | 4,500 | 4,500 | 4,500 |
| Announcement Date | 10/05/19 | 11/05/20 | 11/05/21 | 11/05/22 | 11/05/23 | 13/05/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,49,318 | 3,91,621 | 3,36,241 | 3,23,754 | 3,39,757 | 4,01,633 | 3,66,300 | 3,99,700 |
| EBITDA 1 | 27,137 | 27,930 | 24,300 | 27,272 | 16,589 | 22,828 | 25,700 | 29,367 |
| EBIT 1 | 24,928 | 25,313 | 20,950 | 23,540 | 12,615 | 18,827 | 20,033 | 24,950 |
| Operating Margin | 7.14% | 6.46% | 6.23% | 7.27% | 3.71% | 4.69% | 5.47% | 6.24% |
| Earnings before Tax (EBT) | 26,916 | 25,435 | 23,998 | 22,696 | 13,595 | 18,920 | 19,633 | 23,733 |
| Net income 1 | 18,784 | 18,721 | 17,166 | 15,103 | 9,648 | 12,388 | 14,133 | 17,267 |
| Net margin | 5.38% | 4.78% | 5.11% | 4.66% | 2.84% | 3.08% | 3.86% | 4.32% |
| EPS 2 | 343.4 | 342.2 | 313.8 | 312.3 | 244.4 | 313.9 | 357.6 | 436.8 |
| Free Cash Flow 1 | -36,925 | -6,027 | 10,209 | 18,711 | 8,278 | -9,782 | 1,050 | -1,100 |
| FCF margin | -10.57% | -1.54% | 3.04% | 5.78% | 2.44% | -2.44% | 0.29% | -0.28% |
| FCF Conversion (EBITDA) | - | - | 42.01% | 68.61% | 49.9% | - | 4.09% | - |
| FCF Conversion (Net income) | - | - | 59.47% | 123.89% | 85.8% | - | 7.43% | - |
| Dividend per Share 2 | 105.0 | 105.0 | 105.0 | 221.0 | 221.0 | 220.0 | 227.0 | 238.5 |
| Announcement Date | 10/05/19 | 11/05/20 | 11/05/21 | 11/05/22 | 11/05/23 | 13/05/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 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 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,69,548 | 2,22,073 | 1,61,703 | 1,74,538 | 79,820 | 1,52,960 | 82,449 | 88,345 | 1,70,794 | 69,722 | 87,551 | 1,57,273 | 87,792 | 94,692 | 1,82,484 | 84,194 | 1,06,770 | 1,90,964 | 1,03,879 | 1,06,790 | 2,10,669 | 86,650 | 88,500 | - | 92,750 | 97,200 | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 9,773 | 15,540 | 7,683 | 13,267 | 5,021 | 10,130 | 8,766 | 4,644 | 13,410 | 3,778 | 5,928 | 9,706 | 2,242 | 667 | 2,909 | 1,013 | 8,898 | 9,911 | 4,966 | 3,950 | 8,916 | 3,300 | 4,100 | - | 6,200 | 6,000 | - | - | - |
| Operating Margin | 5.76% | 7% | 4.75% | 7.6% | 6.29% | 6.62% | 10.63% | 5.26% | 7.85% | 5.42% | 6.77% | 6.17% | 2.55% | 0.7% | 1.59% | 1.2% | 8.33% | 5.19% | 4.78% | 3.7% | 4.23% | 3.81% | 4.63% | - | 6.68% | 6.17% | - | - | - |
| Earnings before Tax (EBT) | 9,066 | 16,369 | 7,579 | 16,419 | 4,943 | 10,492 | 5,191 | 7,013 | 12,204 | 4,237 | 6,431 | 10,668 | 1,945 | 982 | 2,927 | 1,680 | 8,896 | 10,576 | 4,735 | 3,609 | 8,344 | 3,900 | 3,800 | - | 6,700 | 7,500 | - | - | - |
| Net income | 7,595 | 11,126 | 5,012 | 12,154 | 3,518 | 7,394 | 3,564 | 4,145 | 7,709 | 2,802 | 4,562 | 7,364 | 1,413 | 871 | 2,284 | 1,065 | 6,086 | 7,151 | 3,142 | 2,095 | 5,237 | 2,300 | 2,850 | - | 4,400 | 4,350 | - | - | - |
| Net margin | 4.48% | 5.01% | 3.1% | 6.96% | 4.41% | 4.83% | 4.32% | 4.69% | 4.51% | 4.02% | 5.21% | 4.68% | 1.61% | 0.92% | 1.25% | 1.26% | 5.7% | 3.74% | 3.02% | 1.96% | 2.49% | 2.65% | 3.22% | - | 4.74% | 4.48% | - | - | - |
| EPS | 138.8 | - | 91.63 | - | - | 135.2 | 78.36 | - | - | 70.99 | - | 186.6 | 35.78 | - | - | 26.99 | - | 181.2 | 79.60 | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | - | - | - | - | - | 90.00 | - | - | 131.0 | - | - | 140.0 | - | - | 81.00 | - | - | 80.00 | - | 80.00 | 140.0 | - | - | 100.0 | - | - | 120.0 | 105.0 | 125.0 |
| Announcement Date | 06/11/19 | 11/05/20 | 05/11/20 | 11/05/21 | 05/11/21 | 05/11/21 | 04/02/22 | 11/05/22 | 11/05/22 | 04/08/22 | 04/11/22 | 04/11/22 | 06/02/23 | 11/05/23 | 11/05/23 | 04/08/23 | 07/11/23 | 07/11/23 | 06/02/24 | 13/05/24 | 13/05/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 54,566 | 75,450 | 71,270 | 1,12,918 | 1,15,683 | 1,29,618 | 1,39,584 | 1,43,884 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.011 x | 2.701 x | 2.933 x | 4.14 x | 6.973 x | 5.678 x | 5.431 x | 4.9 x |
| Free Cash Flow 1 | -36,925 | -6,027 | 10,209 | 18,711 | 8,278 | -9,782 | 1,050 | -1,100 |
| ROE (net income / shareholders' equity) | 9.9% | 9.5% | 8.5% | 8.5% | 6.4% | 7.8% | 8.6% | 10.2% |
| ROA (Net income/ Total Assets) | 6.11% | 5.36% | 4.45% | 4.95% | 2.66% | 3.58% | 3.2% | 3.85% |
| Assets 1 | 3,07,325 | 3,49,007 | 3,85,932 | 3,05,329 | 3,62,911 | 3,45,877 | 4,41,667 | 4,48,485 |
| Book Value Per Share 2 | 3,606 | 3,599 | 3,766 | 3,834 | 3,771 | 4,277 | 4,206 | 4,357 |
| Cash Flow per Share 2 | 384.0 | 390.0 | 375.0 | - | 345.0 | 812.0 | -441.0 | -276.0 |
| Capex 1 | 21,043 | 24,756 | 19,889 | 29,833 | 26,469 | 14,737 | 9,500 | 18,000 |
| Capex / Sales | 6.02% | 6.32% | 5.92% | 9.21% | 7.79% | 3.67% | 2.59% | 4.5% |
| Announcement Date | 10/05/19 | 11/05/20 | 11/05/21 | 11/05/22 | 11/05/23 | 13/05/24 | - | - |
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
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
4,500
JPY
Average target price
5,288
JPY
Spread / Average Target
+17.50%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.00% | 1.12B | |
| -9.94% | 61.33B | |
| +1.24% | 59.12B | |
| +26.96% | 40.11B | |
| +13.51% | 31.3B | |
| +10.48% | 28.61B | |
| +13.56% | 20.57B | |
| +11.19% | 18.8B | |
| +79.13% | 18.14B | |
| +34.77% | 16.98B |
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