Stock 2877 NITTOBEST CORPORATION
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Financials NittoBest Corporation

Equities

2877

JP3684300001

Food Processing

Market Closed - Japan Exchange
Other stock markets
 01:56:39 2024-04-26 am EDT 		5-day change 1st Jan Change
817 JPY +0.49% Intraday chart for NittoBest Corporation -1.57% -0.97%
2023 NittoBest Corporation Reports Earnings Results for the Full Year Ended March 31, 2023 CI
2015 NittoBest Corporation.(JASDAQ:2877) added to MSCI Acwi + Frontier Markets(acwi Fm) All Cap Index CI

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 11,009 9,558 11,167 9,437 9,606 8,953
Enterprise Value (EV) 1 17,067 17,958 20,520 17,351 16,731 16,758
P/E ratio 11 x 13.3 x 24.7 x 13.5 x 15.8 x 36.8 x
Yield 1.32% 1.52% 1.3% 1.54% 1.51% 1.62%
Capitalization / Revenue 0.21 x 0.18 x 0.21 x 0.19 x 0.19 x 0.17 x
EV / Revenue 0.33 x 0.34 x 0.38 x 0.35 x 0.34 x 0.32 x
EV / EBITDA 5.62 x 6.76 x 6.67 x 7.08 x 6.59 x 7.79 x
EV / FCF 8.96 x -10.6 x -94.3 x 11.8 x 12 x -16.4 x
FCF Yield 11.2% -9.4% -1.06% 8.44% 8.36% -6.1%
Price to Book 0.83 x 0.7 x 0.81 x 0.65 x 0.64 x 0.59 x
Nbr of stocks (in thousands) 12,098 12,098 12,098 12,098 12,098 12,098
Reference price 2 910.0 790.0 923.0 780.0 794.0 740.0
Announcement Date 6/26/18 6/26/19 6/26/20 6/25/21 6/24/22 6/23/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 52,253 52,449 54,261 48,897 49,746 51,878
EBITDA 1 3,035 2,657 3,077 2,452 2,537 2,151
EBIT 1 1,371 948 1,336 743 844 381
Operating Margin 2.62% 1.81% 2.46% 1.52% 1.7% 0.73%
Earnings before Tax (EBT) 1 1,425 1,007 737 831 855 400
Net income 1 1,003 720 452 700 607 243
Net margin 1.92% 1.37% 0.83% 1.43% 1.22% 0.47%
EPS 2 82.90 59.51 37.36 57.86 50.17 20.09
Free Cash Flow 1 1,905 -1,687 -217.6 1,465 1,399 -1,023
FCF margin 3.65% -3.22% -0.4% 3% 2.81% -1.97%
FCF Conversion (EBITDA) 62.77% - - 59.74% 55.15% -
FCF Conversion (Net income) 189.94% - - 209.27% 230.5% -
Dividend per Share 2 12.00 12.00 12.00 12.00 12.00 12.00
Announcement Date 6/26/18 6/26/19 6/26/20 6/25/21 6/24/22 6/23/23
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2022 S1 2022 Q3 2023 Q1 2023 S1 2023 Q3 2024 Q1 2024 S1 2024 Q3
Net sales 1 26,739 23,285 24,224 13,521 12,203 24,941 14,214 13,263 26,701 14,550
EBITDA - - - - - - - - - -
EBIT 1 445 -16 267 481 -46 -304 658 129 115 464
Operating Margin 1.66% -0.07% 1.1% 3.56% -0.38% -1.22% 4.63% 0.97% 0.43% 3.19%
Earnings before Tax (EBT) 1 474 7 271 491 -55 -324 702 131 147 435
Net income 1 392 81 187 339 -36 -239 472 91 84 280
Net margin 1.47% 0.35% 0.77% 2.51% -0.3% -0.96% 3.32% 0.69% 0.31% 1.92%
EPS 2 32.44 6.710 15.50 27.99 -3.000 -19.82 39.14 7.540 6.970 23.12
Dividend per Share - - - - - - - - - -
Announcement Date 11/13/19 11/11/20 11/9/21 2/10/22 8/10/22 11/11/22 2/10/23 8/10/23 11/10/23 2/14/24
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 6,058 8,400 9,353 7,914 7,125 7,805
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.996 x 3.161 x 3.04 x 3.228 x 2.808 x 3.629 x
Free Cash Flow 1 1,905 -1,687 -218 1,465 1,399 -1,023
ROE (net income / shareholders' equity) 6.93% 4.67% 2.84% 4.57% 3.73% 1.69%
ROA (Net income/ Total Assets) 2.26% 1.49% 2.1% 1.22% 1.38% 0.6%
Assets 1 44,406 48,309 21,484 57,509 43,890 40,258
Book Value Per Share 2 1,095 1,133 1,137 1,191 1,231 1,249
Cash Flow per Share 2 282.0 281.0 185.0 235.0 279.0 304.0
Capex 1 1,352 2,926 1,341 1,105 607 1,752
Capex / Sales 2.59% 5.58% 2.47% 2.26% 1.22% 3.38%
Announcement Date 6/26/18 6/26/19 6/26/20 6/25/21 6/24/22 6/23/23
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

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