NIDEC CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7,115 JPY | +3.33% |
|
+7.93% | +24.93% |
| Apr. 24 | Transcript : Nidec Corporation, Q4 2024 Earnings Call, Apr 24, 2024 | |
| Apr. 23 | Nidec Corp. Posts Net Loss Due to EV-Motor Business Restructuring -- Update | DJ |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,127,484 | 3,294,421 | 7,869,322 | 5,656,393 | 3,934,234 | 4,088,269 | - | - |
| Enterprise Value (EV) 1 | 4,257,978 | 3,686,840 | 8,181,271 | 6,052,448 | 4,453,485 | 3,522,295 | 4,423,485 | 4,260,479 |
| P/E ratio | 37.3 x | 54.9 x | 64.5 x | 41.6 x | 87.5 x | 28.1 x | 21.9 x | 18.9 x |
| Yield | 0.75% | 1.03% | 0.45% | 0.67% | 1.02% | 1.22% | 1.2% | 1.34% |
| Capitalization / Revenue | 2.72 x | 2.15 x | 4.86 x | 2.95 x | 1.75 x | 1.5 x | 1.63 x | 1.52 x |
| EV / Revenue | 2.8 x | 2.4 x | 5.06 x | 3.16 x | 1.99 x | 1.5 x | 1.76 x | 1.58 x |
| EV / EBITDA | 20.3 x | 18.7 x | 32.1 x | 21.9 x | 20.3 x | 12 x | 11.9 x | 10.4 x |
| EV / FCF | 454 x | -25.7 x | 69 x | -344 x | -208 x | 35.5 x | 34.3 x | 23.4 x |
| FCF Yield | 0.22% | -3.89% | 1.45% | -0.29% | -0.48% | 2.81% | 2.92% | 4.27% |
| Price to Book | 4.14 x | 3.46 x | 7.18 x | 4.37 x | 2.9 x | 2.15 x | 2.47 x | 2.23 x |
| Nbr of stocks (in thousands) | 588,590 | 587,555 | 585,733 | 580,262 | 574,760 | 574,599 | - | - |
| Reference price 2 | 7,012 | 5,607 | 13,435 | 9,748 | 6,845 | 7,115 | 7,115 | 7,115 |
| Announcement Date | 4/23/19 | 4/30/20 | 4/22/21 | 4/21/22 | 4/24/23 | 4/23/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,518,320 | 1,534,800 | 1,618,064 | 1,918,174 | 2,242,824 | 2,348,202 | 2,513,360 | 2,688,824 |
| EBITDA 1 | 209,357 | 197,182 | 255,011 | 276,411 | 219,550 | 294,696 | 371,219 | 409,727 |
| EBIT 1 | 138,620 | 110,326 | 160,011 | 171,487 | 100,081 | 163,106 | 244,493 | 281,482 |
| Operating Margin | 9.13% | 7.19% | 9.89% | 8.94% | 4.46% | 6.95% | 9.73% | 10.47% |
| Earnings before Tax (EBT) 1 | 139,014 | 106,927 | 152,978 | 171,145 | 120,593 | 202,919 | 247,200 | 284,604 |
| Net income 1 | 110,798 | 60,084 | 121,977 | 136,870 | 45,003 | 125,387 | 187,198 | 216,782 |
| Net margin | 7.3% | 3.91% | 7.54% | 7.14% | 2.01% | 5.34% | 7.45% | 8.06% |
| EPS 2 | 187.9 | 102.1 | 208.2 | 234.3 | 78.19 | 218.2 | 324.5 | 376.1 |
| Free Cash Flow 1 | 9,389 | -143,464 | 118,600 | -17,603 | -21,458 | 128,436 | 129,148 | 181,898 |
| FCF margin | 0.62% | -9.35% | 7.33% | -0.92% | -0.96% | 5.52% | 5.14% | 6.76% |
| FCF Conversion (EBITDA) | 4.48% | - | 46.51% | - | - | 42.97% | 34.79% | 44.4% |
| FCF Conversion (Net income) | 8.47% | - | 97.23% | - | - | 87.56% | 68.99% | 83.91% |
| Dividend per Share 2 | 52.50 | 57.50 | 60.00 | 65.00 | 70.00 | 75.00 | 85.26 | 95.60 |
| Announcement Date | 4/23/19 | 4/30/20 | 4/22/21 | 4/21/22 | 4/24/23 | 4/23/24 | - | - |
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 | 2026 S1 | 2026 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 751,277 | 783,523 | 751,794 | 866,270 | 463,198 | 910,668 | 496,542 | 510,964 | 1,007,506 | 540,369 | 590,398 | 1,130,767 | 568,980 | 543,077 | 1,112,057 | 566,055 | 594,607 | 1,160,662 | 594,026 | 593,514 | 1,187,540 | 602,604 | 632,662 | 1,235,891 | 653,570 | 658,848 | 1,302,729 | 1,392,162 | 1,424,375 |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 29,730 | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 62,207 | 48,119 | 69,180 | 90,831 | 45,641 | 90,196 | 44,308 | 36,856 | 81,164 | 44,660 | 51,708 | 96,368 | 28,036 | -24,323 | 124,404 | 60,152 | 55,630 | 115,782 | 53,562 | -6,172 | 47,324 | 52,671 | 61,250 | 112,650 | 67,304 | 66,897 | 133,182 | 155,858 | 164,266 |
| Operating Margin | 8.28% | 6.14% | 9.2% | 10.49% | 9.85% | 9.9% | 8.92% | 7.21% | 8.06% | 8.26% | 8.76% | 8.52% | 4.93% | -4.48% | 11.19% | 10.63% | 9.36% | 9.98% | 9.02% | -1.04% | 3.99% | 8.74% | 9.68% | 9.11% | 10.3% | 10.15% | 10.22% | 11.2% | 11.53% |
| Earnings before Tax (EBT) 1 | 63,750 | - | 66,005 | 86,973 | 44,403 | 88,155 | 42,272 | 40,591 | 82,863 | 56,989 | 61,386 | 118,375 | 23,569 | -21,351 | 2,218 | 86,081 | 59,278 | 145,359 | 48,408 | 9,218 | 57,560 | 54,621 | 62,351 | 122,100 | 67,720 | 68,641 | 146,565 | 161,858 | 170,266 |
| Net income 1 | 27,561 | - | 48,783 | 73,194 | 34,159 | 67,610 | 32,676 | 36,427 | 69,103 | 41,321 | 45,328 | 86,649 | 17,428 | -59,074 | -41,646 | 64,041 | 42,040 | 106,081 | 39,844 | -20,492 | 19,306 | 43,797 | 49,781 | 97,680 | 54,076 | 54,813 | 116,852 | 129,486 | 135,813 |
| Net margin | 3.67% | - | 6.49% | 8.45% | 7.37% | 7.42% | 6.58% | 7.13% | 6.86% | 7.65% | 7.68% | 7.66% | 3.06% | -10.88% | -3.74% | 11.31% | 7.07% | 9.14% | 6.71% | -3.45% | 1.63% | 7.27% | 7.87% | 7.9% | 8.27% | 8.32% | 8.97% | 9.3% | 9.53% |
| EPS 2 | 46.82 | - | 83.28 | 125.0 | 58.36 | 115.5 | 55.90 | 65.44 | 118.8 | 71.50 | 78.83 | 150.3 | 30.32 | -102.8 | -72.12 | 111.4 | 73.17 | 184.6 | 69.34 | -35.66 | 33.60 | 73.00 | 84.38 | 170.0 | 92.59 | 90.33 | 203.3 | 225.3 | 236.3 |
| Dividend per Share 2 | 27.50 | - | 30.00 | - | 30.00 | 30.00 | - | 35.00 | - | - | 35.00 | 35.00 | - | 35.00 | 35.00 | - | 35.00 | 35.00 | - | 40.00 | - | - | 40.00 | - | - | 40.00 | - | - | - |
| Announcement Date | 10/23/19 | 4/30/20 | 10/26/20 | 4/22/21 | 10/26/21 | 10/26/21 | 1/26/22 | 4/21/22 | 4/21/22 | 7/20/22 | 10/24/22 | 10/24/22 | 1/24/23 | 4/24/23 | 4/24/23 | 7/20/23 | 10/23/23 | 10/23/23 | 1/24/24 | 4/23/24 | 4/23/24 | - | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 130,494 | 392,419 | 311,949 | 396,055 | 519,251 | 477,133 | 335,215 | 172,210 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.6233 x | 1.99 x | 1.223 x | 1.433 x | 2.365 x | 1.596 x | 0.903 x | 0.4203 x |
| Free Cash Flow 1 | 9,389 | -143,464 | 118,600 | -17,603 | -21,458 | 128,436 | 129,148 | 181,898 |
| ROE (net income / shareholders' equity) | 11.5% | 6.2% | 11.9% | 11.5% | 3.4% | 8.4% | 11.3% | 12% |
| ROA (Net income/ Total Assets) | 7.63% | 3.01% | 7% | 6.92% | 1.62% | 6.71% | 6.33% | 6.83% |
| Assets 1 | 1,452,112 | 1,999,002 | 1,742,255 | 1,977,464 | 2,775,564 | 1,867,381 | 2,955,510 | 3,173,244 |
| Book Value Per Share 2 | 1,695 | 1,621 | 1,871 | 2,229 | 2,357 | 2,856 | 2,886 | 3,188 |
| Cash Flow per Share 2 | 308.0 | 250.0 | 374.0 | 414.0 | 286.0 | 447.0 | 508.0 | 560.0 |
| Capex 1 | 120,555 | 132,926 | 88,900 | 98,580 | 137,814 | 99,767 | 136,667 | 124,245 |
| Capex / Sales | 7.94% | 8.66% | 5.49% | 5.14% | 6.14% | 4.29% | 5.44% | 4.62% |
| Announcement Date | 4/23/19 | 4/30/20 | 4/22/21 | 4/21/22 | 4/24/23 | 4/23/24 | - | - |
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
BUY
Number of Analysts
19
Last Close Price
7,115
JPY
Average target price
7,731
JPY
Spread / Average Target
+8.65%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +24.93% | 25.97B | |
| +4.53% | 149B | |
| +34.66% | 130B | |
| +19.57% | 130B | |
| +12.90% | 62.82B | |
| +7.65% | 41.04B | |
| +94.65% | 35B | |
| -9.78% | 32.1B | |
| +6.26% | 32.1B | |
| +3.97% | 27.31B |
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