NTT DATA CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,284 JPY | -0.02% |
|
-4.75% | +14.23% |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,712,451 | 1,458,599 | 2,402,481 | 3,390,964 | 2,428,251 | 3,201,523 | - | - |
| Enterprise Value (EV) 1 | 2,032,725 | 1,999,264 | 2,837,108 | 3,807,067 | 4,013,673 | 3,403,359 | 5,066,647 | 5,186,584 |
| P/E ratio | 18.3 x | 19.4 x | 31.3 x | 23.7 x | 16.2 x | 25.4 x | 19.6 x | 17 x |
| Yield | 1.39% | 1.73% | 1.05% | 0.87% | 1.27% | 1% | 1.08% | 1.27% |
| Capitalization / Revenue | 0.79 x | 0.64 x | 1.04 x | 1.33 x | 0.7 x | 0.78 x | 0.71 x | 0.68 x |
| EV / Revenue | 0.94 x | 0.88 x | 1.22 x | 1.49 x | 1.15 x | 0.78 x | 1.12 x | 1.11 x |
| EV / EBITDA | 6.65 x | 6.06 x | 8.03 x | 8.8 x | 7.54 x | 5.23 x | 5.81 x | 7.14 x |
| EV / FCF | 32.4 x | 87.7 x | 15.5 x | 33.4 x | 142 x | -21.5 x | -29.1 x | 935 x |
| FCF Yield | 3.09% | 1.14% | 6.45% | 2.99% | 0.7% | -4.66% | -3.44% | 0.11% |
| Price to Book | 1.85 x | 1.55 x | 2.24 x | 2.67 x | 1.67 x | 1.98 x | 1.82 x | 1.68 x |
| Nbr of stocks (in thousands) | 1,402,499 | 1,402,499 | 1,402,499 | 1,402,384 | 1,401,992 | 1,402,024 | - | - |
| Reference price 2 | 1,221 | 1,040 | 1,713 | 2,418 | 1,732 | 2,284 | 2,284 | 2,284 |
| Announcement Date | 5/9/19 | 5/14/20 | 5/11/21 | 5/12/22 | 5/11/23 | 5/9/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,163,625 | 2,266,808 | 2,318,658 | 2,551,906 | 3,490,182 | 4,367,387 | 4,534,761 | 4,676,149 |
| EBITDA 1 | 305,754 | 330,119 | 353,497 | 432,529 | 532,162 | 651,092 | 871,383 | 726,784 |
| EBIT 1 | 147,716 | 130,937 | 139,173 | 212,590 | 259,110 | 309,551 | 348,926 | 385,585 |
| Operating Margin | 6.83% | 5.78% | 6% | 8.33% | 7.42% | 7.09% | 7.69% | 8.25% |
| Earnings before Tax (EBT) 1 | 146,914 | 120,155 | 130,452 | 215,849 | 242,800 | 248,602 | 278,258 | 324,887 |
| Net income 1 | 93,616 | 75,148 | 76,843 | 142,979 | 149,962 | 133,869 | 159,006 | 188,541 |
| Net margin | 4.33% | 3.32% | 3.31% | 5.6% | 4.3% | 3.07% | 3.51% | 4.03% |
| EPS 2 | 66.75 | 53.58 | 54.79 | 102.0 | 107.0 | 95.48 | 116.8 | 134.5 |
| Free Cash Flow 1 | 62,795 | 22,789 | 182,990 | 113,917 | 28,287 | -158,655 | -174,312 | 5,550 |
| FCF margin | 2.9% | 1.01% | 7.89% | 4.46% | 0.81% | -3.63% | -3.84% | 0.12% |
| FCF Conversion (EBITDA) | 20.54% | 6.9% | 51.77% | 26.34% | 5.32% | - | - | 0.76% |
| FCF Conversion (Net income) | 67.08% | 30.33% | 238.13% | 79.67% | 18.86% | - | - | 2.94% |
| Dividend per Share 2 | 17.00 | 18.00 | 18.00 | 21.00 | 22.00 | 22.91 | 24.62 | 29.09 |
| Announcement Date | 5/9/19 | 5/14/20 | 5/11/21 | 5/12/22 | 5/11/23 | 5/9/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 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 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,077,819 | 1,188,989 | 1,080,117 | 1,238,541 | 621,257 | 1,212,079 | 636,129 | 703,698 | 1,339,827 | 677,400 | 694,055 | 1,371,423 | 1,034,685 | 1,084,074 | 2,118,759 | 1,015,000 | 1,063,513 | 2,078,513 | 1,097,649 | 1,191,225 | 1,063,750 | 1,121,000 | 2,184,500 | 1,143,750 | 1,270,500 |
| EBITDA 1 | - | - | - | - | 116,824 | - | 112,139 | - | - | - | - | - | - | - | - | - | - | - | - | 315,604 | - | - | - | - | - |
| EBIT 1 | 63,757 | 67,180 | 63,821 | 75,352 | 61,867 | 109,138 | 57,952 | 45,500 | 103,452 | 57,500 | 50,407 | 107,929 | 75,538 | 75,643 | 151,181 | 58,300 | 63,572 | 121,872 | 75,188 | 112,491 | 72,800 | 78,200 | 130,500 | 84,050 | 107,450 |
| Operating Margin | 5.92% | 5.65% | 5.91% | 6.08% | 9.96% | 9% | 9.11% | 6.47% | 7.72% | 8.49% | 7.26% | 7.87% | 7.3% | 6.98% | 7.14% | 5.74% | 5.98% | 5.86% | 6.85% | 9.44% | 6.84% | 6.98% | 5.97% | 7.35% | 8.46% |
| Earnings before Tax (EBT) 1 | 62,941 | 57,214 | 62,781 | 67,671 | 62,069 | 111,047 | 58,166 | 46,636 | 104,802 | 58,900 | 51,748 | 110,627 | 62,455 | 69,718 | 132,173 | 48,200 | 47,343 | 95,543 | 54,607 | 98,452 | 49,000 | 47,500 | 96,500 | 64,000 | 104,000 |
| Net income 1 | 40,181 | 34,967 | 41,206 | 35,637 | 40,807 | 71,869 | 38,322 | 32,788 | 71,110 | 39,700 | 33,043 | 72,771 | 32,934 | 44,257 | 77,191 | 27,700 | 25,322 | 53,022 | 30,714 | 50,133 | 28,406 | 27,200 | 56,300 | 34,400 | 56,300 |
| Net margin | 3.73% | 2.94% | 3.81% | 2.88% | 6.57% | 5.93% | 6.02% | 4.66% | 5.31% | 5.86% | 4.76% | 5.31% | 3.18% | 4.08% | 3.64% | 2.73% | 2.38% | 2.55% | 2.8% | 4.21% | 2.67% | 2.43% | 2.58% | 3.01% | 4.43% |
| EPS 2 | 28.65 | - | 29.38 | - | 29.09 | 51.24 | 27.33 | 23.38 | - | 28.33 | 23.56 | 51.89 | 23.50 | 31.56 | - | 19.73 | 18.09 | 37.82 | 21.91 | 35.75 | 19.77 | - | - | - | - |
| Dividend per Share 2 | 9.000 | - | 9.000 | - | 9.500 | 9.500 | - | 11.50 | - | - | 10.50 | 10.50 | - | 11.50 | - | - | - | 11.50 | - | 11.50 | - | - | - | - | - |
| Announcement Date | 11/1/19 | 5/14/20 | 11/2/20 | 5/11/21 | 11/9/21 | 11/9/21 | 2/4/22 | 5/12/22 | 5/12/22 | 8/5/22 | 11/7/22 | 11/7/22 | 2/9/23 | 5/11/23 | 5/11/23 | 8/8/23 | 11/6/23 | 11/6/23 | 2/7/24 | 5/9/24 | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 320,274 | 540,665 | 434,627 | 416,103 | 1,585,422 | 1,854,543 | 1,865,124 | 1,985,061 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.047 x | 1.638 x | 1.23 x | 0.962 x | 2.979 x | 3.065 x | 2.14 x | 2.731 x |
| Free Cash Flow 1 | 62,795 | 22,789 | 182,990 | 113,917 | 28,287 | -158,655 | -174,312 | 5,550 |
| ROE (net income / shareholders' equity) | 10.7% | 8.1% | 7.6% | 12.2% | 11% | 8.4% | 9.43% | 10.6% |
| ROA (Net income/ Total Assets) | 6.24% | 4.66% | 4.67% | 7.22% | 5.25% | 3.72% | 3.1% | 3.49% |
| Assets 1 | 1,500,752 | 1,614,246 | 1,644,344 | 1,981,090 | 2,854,315 | 3,601,844 | 5,129,221 | 5,407,315 |
| Book Value Per Share 2 | 660.0 | 670.0 | 765.0 | 906.0 | 1,036 | 1,226 | 1,257 | 1,357 |
| Cash Flow per Share 2 | 179.0 | 196.0 | 208.0 | 259.0 | 302.0 | 339.0 | 508.0 | 437.0 |
| Capex 1 | 179,214 | 193,843 | 169,502 | 176,746 | 381,681 | 657,444 | 554,088 | 528,956 |
| Capex / Sales | 8.28% | 8.55% | 7.31% | 6.93% | 10.94% | 15.05% | 12.22% | 11.31% |
| Announcement Date | 5/9/19 | 5/14/20 | 5/11/21 | 5/12/22 | 5/11/23 | 5/9/24 | - | - |
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
OUTPERFORM
Number of Analysts
13
Last Close Price
2,284
JPY
Average target price
2,613
JPY
Spread / Average Target
+14.44%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +14.23% | 20.62B | |
| -13.48% | 194B | |
| +1.07% | 169B | |
| +3.37% | 155B | |
| +8.31% | 102B | |
| +35.49% | 82.01B | |
| +11.19% | 81.78B | |
| -6.39% | 72.08B | |
| -18.66% | 55.12B | |
| -9.06% | 43.73B |
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