Financials Nittoseiko Co.,Ltd.

Equities

5957

JP3682800002

Industrial Machinery & Equipment

Market Closed - Japan Exchange Other stock markets 11:30:00 08/05/2024 am IST			5-day change	1st Jan Change
621 ^JPY	-0.64%		+0.65%	+18.06%

22/02	Nittoseiko Co.,Ltd. agreed to acquire Vulcan Forge Private Limited from Ahuja family.	CI
16/02	Nitto Seiko's Profit Down 5% in 2023	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	23,718	16,398	24,007	18,128	19,328	22,695	-	-
Enterprise Value (EV) ¹	17,073	10,855	15,569	12,025	12,411	22,695	22,695	22,695
P/E ratio	12.3 x	21.6 x	10.9 x	9.96 x	11.2 x	9.86 x	8.5 x	7.44 x
Yield	1.87%	1.9%	2.46%	3.25%	3.42%	3.06%	3.14%	3.3%
Capitalization / Revenue	0.68 x	0.5 x	0.59 x	0.41 x	0.43 x	0.47 x	0.44 x	0.41 x
EV / Revenue	0.68 x	0.5 x	0.59 x	0.41 x	0.43 x	0.47 x	0.44 x	0.41 x
EV / EBITDA	6.53 x	6.61 x	5.28 x	4.16 x	4.71 x	4.71 x	4.41 x	4.1 x
EV / FCF	37.6 x	80.7 x	9.04 x	-18.4 x	10.4 x	12.2 x	15.8 x	11.9 x
FCF Yield	2.66%	1.24%	11.1%	-5.45%	9.58%	8.18%	6.33%	8.38%
Price to Book	0.89 x	0.61 x	0.82 x	0.59 x	0.59 x	0.66 x	0.62 x	0.58 x
Nbr of stocks (in thousands)	37,002	36,604	36,934	36,770	36,745	36,547	-	-
Reference price ²	641.0	448.0	650.0	493.0	526.0	621.0	621.0	621.0
Announcement Date	13/02/20	12/02/21	14/02/22	14/02/23	13/02/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	34,857	32,904	40,518	44,021	44,744	47,990	51,290	54,760
EBITDA ¹	3,634	2,481	4,544	4,354	4,104	4,820	5,150	5,540
EBIT ¹	2,596	1,303	3,249	2,931	2,614	3,235	3,760	4,295
Operating Margin	7.45%	3.96%	8.02%	6.66%	5.84%	6.74%	7.33%	7.84%
Earnings before Tax (EBT) ¹	2,971	1,359	3,606	3,194	2,830	3,345	3,870	4,405
Net income ¹	1,937	764	2,200	1,828	1,734	2,300	2,670	3,050
Net margin	5.56%	2.32%	5.43%	4.15%	3.88%	4.79%	5.21%	5.57%
EPS ²	52.08	20.78	59.63	49.50	46.95	62.95	73.10	83.45
Free Cash Flow ¹	631	203.2	2,657	-987.8	1,852	1,857	1,437	1,901
FCF margin	1.81%	0.62%	6.56%	-2.24%	4.14%	3.87%	2.8%	3.47%
FCF Conversion (EBITDA)	17.37%	8.19%	58.47%	-	45.13%	38.53%	27.9%	34.31%
FCF Conversion (Net income)	32.58%	26.6%	120.77%	-	106.81%	80.74%	53.82%	62.33%
Dividend per Share ²	12.00	8.500	16.00	16.00	18.00	19.00	19.50	20.50
Announcement Date	13/02/20	12/02/21	14/02/22	14/02/23	13/02/24	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2021 S1	2021 Q3	2021 Q4	2022 Q1	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2
Net sales ¹	18,199	15,887	20,252	9,975	10,291	9,428	20,890	11,375	11,756	10,912	11,535	22,447	10,770	11,527	22,297	10,945	12,025	23,120	12,370	12,650	24,730
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,269	569	1,881	784	584	584	1,221	790	920	675	623	1,298	404	912	1,316	670	760	1,450	850	955	1,750
Operating Margin	6.97%	3.58%	9.29%	7.86%	5.67%	6.19%	5.84%	6.95%	7.83%	6.19%	5.4%	5.78%	3.75%	7.91%	5.9%	6.12%	6.32%	6.27%	6.87%	7.55%	7.08%
Earnings before Tax (EBT)	-	626	2,131	828	-	665	1,449	899	-	733	-	1,494	436	-	-	-	-	-	-	-	-
Net income	1,041	351	1,231	576	-	430	833	629	-	439	-	833	289	-	-	-	-	-	-	-	-
Net margin	5.72%	2.21%	6.08%	5.77%	-	4.56%	3.99%	5.53%	-	4.02%	-	3.71%	2.68%	-	-	-	-	-	-	-	-
EPS	-	9.550	33.41	15.57	-	11.66	22.56	17.04	-	11.90	-	22.57	7.820	-	-	-	-	-	-	-	-
Dividend per Share	-	4.000	7.500	-	-	-	8.000	-	-	-	-	9.000	-	-	-	-	-	-	-	-	-
Announcement Date	13/02/20	12/08/20	10/08/21	10/11/21	14/02/22	13/05/22	08/08/22	11/11/22	14/02/23	12/05/23	10/08/23	10/08/23	14/11/23	13/02/24	13/02/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	6,645	5,543	8,438	6,103	6,917	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	631	203	2,657	-988	1,852	1,857	1,437	1,901
ROE (net income / shareholders' equity)	7.5%	2.9%	7.8%	6.1%	5.5%	6.9%	8.2%	9%
ROA (Net income/ Total Assets)	6.39%	3.08%	7.18%	6.2%	5.31%	-	-	-
Assets ¹	30,332	24,841	30,645	29,477	32,647	-	-	-
Book Value Per Share ²	724.0	730.0	792.0	832.0	887.0	941.0	1,002	1,076
Cash Flow per Share	79.90	52.70	94.70	88.00	87.20	-	-	-
Capex ¹	2,002	1,313	923	1,122	1,299	1,350	1,300	1,400
Capex / Sales	5.74%	3.99%	2.28%	2.55%	2.9%	2.81%	2.53%	2.56%
Announcement Date	13/02/20	12/02/21	14/02/22	14/02/23	13/02/24	-	-	-

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

Ratings for Nittoseiko Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

621 JPY

Average target price

690 JPY

Spread / Average Target

+11.11%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Industrial Parts & Components

	1st Jan change	Capi.
NITTOSEIKO CO.,LTD.	+18.06%	148M
TRELLEBORG AB	+20.02%	8.93B
MUELLER INDUSTRIES, INC.	+23.33%	6.66B
MISUMI GROUP INC.	+16.26%	4.98B
SFS GROUP AG	+8.25%	4.77B
GATES INDUSTRIAL CORPORATION PLC	+24.40%	4.3B
SHANGHAI MOONS' ELECTRIC CO., LTD.	-16.07%	3.37B
LEADER HARMONIOUS DRIVE SYSTEMS CO., LTD.	-25.10%	2.81B
HIWIN TECHNOLOGIES CORPORATION	+1.06%	2.59B
HARMONIC DRIVE SYSTEMS INC.	+2.16%	2.57B

Industrial Parts & Components