Financials Nippon Carbide Industries Co., Inc.

Equities

4064

JP3690000009

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-02 am EDT			5-day change	1st Jan Change
1,776 ^JPY	-0.39%		+1.25%	+24.11%

Mar. 21	Tranche Update on Nippon Carbide Industries Co., Inc.'s Equity Buyback Plan announced on February 7, 2024.	CI
Mar. 19	Nippon Carbide Industries Co., Inc.'s Equity Buyback announced on February 7, 2024, has closed with 107,600 shares, representing 1.14% for ¥199.9 million.	CI

Valuation

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,289	8,229	11,639	12,984	12,379	16,639	-	-
Enterprise Value (EV) ¹	21,425	16,713	17,539	16,555	12,933	16,639	16,639	16,639
P/E ratio	6.82 x	4.71 x	4.74 x	6.54 x	37.2 x	6.82 x	13.9 x	8.36 x
Yield	2.66%	4%	2.98%	3.97%	4.94%	4.5%	3.94%	4.5%
Capitalization / Revenue	0.25 x	0.18 x	0.28 x	0.28 x	0.28 x	0.38 x	0.35 x	0.32 x
EV / Revenue	0.25 x	0.18 x	0.28 x	0.28 x	0.28 x	0.38 x	0.35 x	0.32 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	3.07 x	8.51 x	8.97 x	9.58 x	29.1 x	-12 x	-6.93 x	46.2 x
FCF Yield	32.6%	11.8%	11.1%	10.4%	3.43%	-8.34%	-14.4%	2.16%
Price to Book	0.52 x	0.34 x	0.44 x	0.43 x	0.4 x	-	-	-
Nbr of stocks (in thousands)	8,187	8,221	8,673	9,382	9,400	9,369	-	-
Reference price ²	1,501	1,001	1,342	1,384	1,317	1,776	1,776	1,776
Announcement Date	5/13/19	5/20/20	5/12/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	48,651	46,699	42,231	47,003	44,008	44,000	48,000	52,000
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	2,649	2,557	2,388	3,192	1,261	900	1,600	2,900
Operating Margin	5.44%	5.48%	5.65%	6.79%	2.87%	2.05%	3.33%	5.58%
Earnings before Tax (EBT)	2,618	2,653	3,304	2,627	1,221	-	1,700	3,000
Net income ¹	1,800	1,741	2,406	1,930	332	2,450	1,200	2,000
Net margin	3.7%	3.73%	5.7%	4.11%	0.75%	5.57%	2.5%	3.85%
EPS ²	220.0	212.6	283.0	211.5	35.37	260.3	127.5	212.5
Free Cash Flow ¹	4,009	967	1,297	1,355	425	-1,387	-2,400	360
FCF margin	8.24%	2.07%	3.07%	2.88%	0.97%	-3.15%	-5%	0.69%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	222.72%	55.54%	53.91%	70.21%	128.01%	-	-	18%
Dividend per Share ²	40.00	40.00	40.00	55.00	65.00	80.00	70.00	80.00
Announcement Date	5/13/19	5/20/20	5/12/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	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
Net sales ¹	22,658	19,431	11,539	23,059	11,581	12,363	23,944	11,562	11,751	23,313	11,021	9,674	20,695	10,171	11,162	21,333	11,465	11,202	22,667
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,119	486	864	1,749	818	625	1,443	742	327	1,069	293	-101	192	392	88	480	276	144	420
Operating Margin	4.94%	2.5%	7.49%	7.58%	7.06%	5.06%	6.03%	6.42%	2.78%	4.59%	2.66%	-1.04%	0.93%	3.85%	0.79%	2.25%	2.41%	1.29%	1.85%
Earnings before Tax (EBT)	1,170	321	727	1,648	944	-	-	1,069	590	1,659	303	-741	-438	898	-	1,233	159	-	-
Net income ¹	742	5	390	1,136	666	128	794	875	492	1,367	43	-1,078	-1,035	721	66	787	102	1,561	1,663
Net margin	3.27%	0.03%	3.38%	4.93%	5.75%	1.04%	3.32%	7.57%	4.19%	5.86%	0.39%	-11.14%	-5%	7.09%	0.59%	3.69%	0.89%	13.94%	7.34%
EPS	90.63	0.6200	-	127.1	72.07	-	-	93.23	-	145.6	4.510	-	-	76.72	-	83.71	10.87	-	-
Dividend per Share	-	-	-	25.00	-	-	-	-	-	30.00	-	-	-	-	-	30.00	-	-	-
Announcement Date	11/8/19	11/9/20	11/8/21	11/8/21	2/4/22	5/13/22	5/13/22	8/5/22	11/8/22	11/8/22	2/6/23	5/12/23	5/12/23	8/7/23	11/8/23	11/8/23	2/7/24	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	9,136	8,484	5,900	3,571	554	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	4,009	967	1,297	1,355	425	-1,387	-2,400	360
ROE (net income / shareholders' equity)	7.7%	7.2%	9.4%	6.7%	1.1%	7.1%	-	-
ROA (Net income/ Total Assets)	5.08%	4.62%	4.56%	6.31%	3.01%	-	-	-
Assets ¹	35,412	37,654	52,789	30,569	11,030	-	-	-
Book Value Per Share	2,890	2,973	3,067	3,230	3,323	-	-	-
Cash Flow per Share	484.0	458.0	518.0	438.0	247.0	-	-	-
Capex ¹	1,886	1,769	2,493	2,942	3,181	3,000	3,800	3,700
Capex / Sales	3.88%	3.79%	5.9%	6.26%	7.23%	6.82%	7.92%	7.12%
Announcement Date	5/13/19	5/20/20	5/12/21	5/13/22	5/12/23	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Nippon Carbide Industries Co., Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,776 JPY

Average target price

3,900 JPY

Spread / Average Target

+119.59%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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