NGK INSULATORS, LTD |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,176 JPY | +4.89% |
|
+8.07% | +29.13% |
| Apr. 04 | Metawater's Largest Shareholder Cuts Stake | MT |
| 2023 | Tranche Update on NGK Insulators, Ltd.'s Equity Buyback Plan announced on October 27, 2023. | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 517,414 | 448,456 | 640,745 | 546,259 | 536,587 | 648,430 | - | - |
| Enterprise Value (EV) 1 | 582,674 | 571,678 | 738,627 | 612,967 | 575,236 | 607,763 | 662,080 | 640,689 |
| P/E ratio | 14.6 x | 16.7 x | 16.6 x | 7.74 x | 9.87 x | 15.3 x | 12.6 x | 11.5 x |
| Yield | 3.11% | 3.53% | 1.48% | 3.59% | 3.77% | 2.45% | 3.11% | 3.15% |
| Capitalization / Revenue | 1.12 x | 1.01 x | 1.42 x | 1.07 x | 0.96 x | 1.05 x | 1.05 x | 1.05 x |
| EV / Revenue | 1.26 x | 1.29 x | 1.63 x | 1.2 x | 1.03 x | 1.05 x | 1.07 x | 1.03 x |
| EV / EBITDA | 5.8 x | 6.04 x | 7.71 x | 4.62 x | 4.77 x | 5.65 x | 5.1 x | 4.69 x |
| EV / FCF | -13.2 x | -14 x | 21.8 x | 12.6 x | 12.5 x | 17.9 x | 16.8 x | 13.8 x |
| FCF Yield | -7.57% | -7.14% | 4.59% | 7.92% | 7.99% | 5.58% | 5.94% | 7.24% |
| Price to Book | 1.08 x | 0.98 x | 1.25 x | 0.94 x | 0.84 x | 0.87 x | 0.94 x | 0.89 x |
| Nbr of stocks (in thousands) | 321,775 | 316,483 | 316,574 | 311,614 | 306,271 | 297,923 | - | - |
| Reference price 2 | 1,608 | 1,417 | 2,024 | 1,753 | 1,752 | 2,176 | 2,176 | 2,176 |
| Announcement Date | 4/26/19 | 5/18/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 463,504 | 441,956 | 452,043 | 510,439 | 559,240 | 578,913 | 618,000 | 620,460 |
| EBITDA 1 | 100,433 | 94,579 | 95,765 | 132,797 | 120,490 | 120,843 | 129,820 | 136,650 |
| EBIT 1 | 64,705 | 55,000 | 50,823 | 83,527 | 66,761 | 66,397 | 74,500 | 80,520 |
| Operating Margin | 13.96% | 12.44% | 11.24% | 16.36% | 11.94% | 11.47% | 12.06% | 12.98% |
| Earnings before Tax (EBT) 1 | 50,448 | 43,836 | 53,120 | 90,819 | 57,522 | 56,175 | 71,500 | 79,240 |
| Net income 1 | 35,506 | 27,135 | 38,496 | 70,851 | 55,048 | 40,562 | 53,144 | 56,362 |
| Net margin | 7.66% | 6.14% | 8.52% | 13.88% | 9.84% | 7.01% | 8.6% | 9.08% |
| EPS 2 | 110.4 | 84.73 | 121.6 | 226.6 | 177.5 | 133.6 | 172.2 | 190.0 |
| Free Cash Flow 1 | -44,112 | -40,797 | 33,917 | 48,540 | 45,943 | 38,090 | 39,338 | 46,375 |
| FCF margin | -9.52% | -9.23% | 7.5% | 9.51% | 8.22% | 6.63% | 6.37% | 7.47% |
| FCF Conversion (EBITDA) | - | - | 35.42% | 36.55% | 38.13% | 31.52% | 30.3% | 33.94% |
| FCF Conversion (Net income) | - | - | 88.11% | 68.51% | 83.46% | 88.04% | 74.02% | 82.28% |
| Dividend per Share 2 | 50.00 | 50.00 | 30.00 | 63.00 | 66.00 | 50.00 | 67.67 | 68.60 |
| Announcement Date | 4/26/19 | 5/18/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
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 | 2024 S2 | 2025 Q1 | 2025 Q2 | 2025 S1 | 2025 Q3 | 2025 Q4 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 219,766 | 222,190 | 194,942 | - | 121,380 | 250,159 | 121,723 | 138,557 | 260,280 | 131,000 | 143,688 | 274,688 | 140,393 | 144,159 | 284,552 | 141,331 | 141,553 | 282,884 | 139,643 | 156,386 | 296,029 | 147,000 | 148,500 | - | 153,300 | 169,200 | - |
| EBITDA | - | - | - | - | 33,524 | - | 29,854 | 31,637 | - | 33,827 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 31,643 | 23,357 | 11,573 | - | 22,288 | 45,925 | 18,618 | 18,984 | 37,602 | 20,635 | 18,173 | 38,808 | 18,781 | 9,172 | 27,953 | 18,561 | 13,924 | 32,485 | 17,832 | 16,080 | 33,912 | 16,300 | 17,900 | - | 19,750 | 20,550 | - |
| Operating Margin | 14.4% | 10.51% | 5.94% | - | 18.36% | 18.36% | 15.3% | 13.7% | 14.45% | 15.75% | 12.65% | 14.13% | 13.38% | 6.36% | 9.82% | 13.13% | 9.84% | 11.48% | 12.77% | 10.28% | 11.46% | 11.09% | 12.05% | - | 12.88% | 12.15% | - |
| Earnings before Tax (EBT) | 28,553 | - | 12,114 | - | - | 45,125 | 20,121 | - | - | 20,281 | - | 34,587 | 22,007 | - | - | 16,278 | - | 27,883 | 18,876 | - | - | - | - | - | - | - | - |
| Net income | 21,244 | - | 7,267 | - | 15,780 | 31,950 | 14,409 | 24,492 | - | 17,963 | - | 26,510 | 25,126 | - | 28,538 | 12,005 | - | 18,181 | 15,695 | - | - | - | - | - | - | - | - |
| Net margin | 9.67% | - | 3.73% | - | 13% | 12.77% | 11.84% | 17.68% | - | 13.71% | - | 9.65% | 17.9% | - | 10.03% | 8.49% | - | 6.43% | 11.24% | - | - | - | - | - | - | - | - |
| EPS 2 | 66.02 | - | 22.96 | - | 50.56 | 101.9 | 46.23 | 78.47 | - | 57.64 | 27.42 | 85.06 | 80.84 | 11.57 | - | 39.20 | 20.15 | 59.35 | 51.65 | 22.65 | - | - | - | - | - | - | - |
| Dividend per Share | 25.00 | - | 10.00 | 20.00 | - | 30.00 | - | - | 33.00 | - | - | 33.00 | - | - | 33.00 | - | - | 25.00 | - | - | 25.00 | - | - | 40.00 | - | - | 40.00 |
| Announcement Date | 10/31/19 | 5/18/20 | 10/30/20 | 4/28/21 | 10/29/21 | 10/29/21 | 1/31/22 | 4/28/22 | 4/28/22 | 7/29/22 | 10/28/22 | 10/28/22 | 1/31/23 | 4/28/23 | 4/28/23 | 7/31/23 | 10/27/23 | 10/27/23 | 1/31/24 | 4/26/24 | 4/26/24 | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 65,260 | 123,222 | 97,882 | 66,708 | 38,649 | 34,736 | 13,650 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 7,740 |
| Leverage (Debt/EBITDA) | 0.6498 x | 1.303 x | 1.022 x | 0.5023 x | 0.3208 x | 0.2874 x | 0.1051 x | - |
| Free Cash Flow 1 | -44,112 | -40,797 | 33,917 | 48,540 | 45,943 | 38,091 | 39,338 | 46,375 |
| ROE (net income / shareholders' equity) | 7.6% | 5.8% | 7.9% | 12.9% | 9% | 6.1% | 7.53% | 8.08% |
| ROA (Net income/ Total Assets) | 7.58% | 6.12% | 6.09% | 9.12% | 6.55% | 5.85% | 4.5% | 4.6% |
| Assets 1 | 468,554 | 443,106 | 632,589 | 777,038 | 840,504 | 693,838 | 1,180,986 | 1,225,261 |
| Book Value Per Share 2 | 1,484 | 1,449 | 1,617 | 1,871 | 2,075 | 2,334 | 2,314 | 2,443 |
| Cash Flow per Share 2 | 221.0 | 208.0 | 264.0 | 384.0 | 351.0 | 321.0 | 366.0 | 401.0 |
| Capex 1 | 105,336 | 93,997 | 50,831 | 38,130 | 43,694 | 56,000 | 60,000 | 58,750 |
| Capex / Sales | 22.73% | 21.27% | 11.24% | 7.47% | 7.81% | 9.75% | 9.71% | 9.47% |
| Announcement Date | 4/26/19 | 5/18/20 | 4/28/21 | 4/28/22 | 4/28/23 | 4/26/24 | - | - |
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
HOLD
Number of Analysts
6
Last Close Price
2,176
JPY
Average target price
1,975
JPY
Spread / Average Target
-9.26%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +29.13% | 4.12B | |
| +11.73% | 82.35B | |
| +20.17% | 71.09B | |
| +20.89% | 37.72B | |
| +15.77% | 32.01B | |
| +9.19% | 27.2B | |
| +3.18% | 26.74B | |
| +4.22% | 26B | |
| +16.93% | 25.5B | |
| +17.14% | 24.76B |
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- Financials NGK Insulators, Ltd
