Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 2.9% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €37.60, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 32x in the Electronic industry in Germany. Total returns to shareholders of 522% over the past three years. New Risk • Mar 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (14% average weekly change). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €49.00, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 744% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €35.40, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 559% over the past three years. Reported Earnings • Feb 01
Third quarter 2026 earnings released: EPS: JP¥62.73 (vs JP¥21.40 in 3Q 2025) Third quarter 2026 results: EPS: JP¥62.73 (up from JP¥21.40 in 3Q 2025). Revenue: JP¥7.02b (up 54% from 3Q 2025). Net income: JP¥931.0m (up 181% from 3Q 2025). Profit margin: 13% (up from 7.3% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €30.80, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 544% over the past three years. Aankondiging • Dec 27
Nippon Avionics Co., Ltd. to Report Q3, 2026 Results on Jan 30, 2026 Nippon Avionics Co., Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 New Risk • Nov 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (8.9% average weekly change). New Risk • Oct 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 51% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (51% net debt to equity). Share price has been volatile over the past 3 months (9.5% average weekly change). Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: JP¥59.92 (vs JP¥34.86 in 2Q 2025) Second quarter 2026 results: EPS: JP¥59.92 (up from JP¥34.86 in 2Q 2025). Revenue: JP¥7.67b (up 53% from 2Q 2025). Net income: JP¥912.0m (up 68% from 2Q 2025). Profit margin: 12% (up from 11% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €28.40, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 591% over the past three years. Aankondiging • Oct 04
Nippon Avionics Co., Ltd. to Report Q2, 2026 Results on Oct 29, 2025 Nippon Avionics Co., Ltd. announced that they will report Q2, 2026 results on Oct 29, 2025 Reported Earnings • Aug 03
First quarter 2026 earnings released: EPS: JP¥25.21 (vs JP¥11.44 in 1Q 2025) First quarter 2026 results: EPS: JP¥25.21 (up from JP¥11.44 in 1Q 2025). Revenue: JP¥5.04b (up 23% from 1Q 2025). Net income: JP¥388.0m (up 103% from 1Q 2025). Profit margin: 7.7% (up from 4.7% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 93% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €27.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 628% over the past three years. Aankondiging • Aug 01
Nippon Avionics Co., Ltd. (TSE:6946) announces an Equity Buyback for 603,500 shares, representing 3.6% for ¥2,000 million. Nippon Avionics Co., Ltd. (TSE:6946) announces a share repurchase program. Under the program, the company will repurchase up to 603,500 shares, representing 3.6% of its issued share capital, for ¥2,000 million. The shares will be repurchased at price of ¥3,314 per share. The shares will be repurchased from NAJ Holdings Co., Ltd. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment. If the offer is oversubscribed the company may repurchase up to additional 100 shares. The program will be valid till September 1, 2025. As of June 30, 2025, the company has 16,764,810 issued shares (excluding treasury stock) and 1,374,013 treasury shares. Aankondiging • Jul 08
Nippon Avionics Co., Ltd. to Report Q1, 2026 Results on Aug 01, 2025 Nippon Avionics Co., Ltd. announced that they will report Q1, 2026 results on Aug 01, 2025 Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥124 (vs JP¥132 in FY 2024) Full year 2025 results: EPS: JP¥124 (down from JP¥132 in FY 2024). Revenue: JP¥20.1b (up 11% from FY 2024). Net income: JP¥1.96b (down 8.6% from FY 2024). Profit margin: 9.8% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €25.40, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 19x in the Electronic industry in Germany. Total returns to shareholders of 490% over the past three years. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €24.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 337% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €20.20, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Electronic industry in Germany. Total returns to shareholders of 330% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.93 per share. Reported Earnings • May 15
Full year 2025 earnings released: EPS: JP¥124 (vs JP¥132 in FY 2024) Full year 2025 results: EPS: JP¥124 (down from JP¥132 in FY 2024). Revenue: JP¥20.1b (up 11% from FY 2024). Net income: JP¥1.96b (down 8.6% from FY 2024). Profit margin: 9.8% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 13
Nippon Avionics Co., Ltd., Annual General Meeting, Jun 24, 2025 Nippon Avionics Co., Ltd., Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €17.90, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 390% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.55 per share. New Risk • Apr 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €13.70, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Electronic industry in Germany. Total returns to shareholders of 256% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.74 per share. Aankondiging • Mar 27
Nippon Avionics Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Nippon Avionics Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 4.7% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (1.9%). Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €14.80, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electronic industry in Germany. Total returns to shareholders of 356% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.58 per share. Reported Earnings • Feb 02
Third quarter 2025 earnings released: EPS: JP¥21.40 (vs JP¥25.40 in 3Q 2024) Third quarter 2025 results: EPS: JP¥21.40 (down from JP¥25.40 in 3Q 2024). Revenue: JP¥4.56b (flat on 3Q 2024). Net income: JP¥331.0m (down 22% from 3Q 2024). Profit margin: 7.3% (down from 9.2% in 3Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Dec 20
Nippon Avionics Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Nippon Avionics Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €15.70, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 289% over the past three years. Reported Earnings • Nov 01
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: JP¥5.02b (flat on 2Q 2024). Net income: JP¥543.0m (down 12% from 2Q 2024). Profit margin: 11% (down from 12% in 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 02
Nippon Avionics Co., Ltd. to Report Q2, 2025 Results on Oct 29, 2024 Nippon Avionics Co., Ltd. announced that they will report Q2, 2025 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €17.30, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Electronic industry in Germany. Total returns to shareholders of 388% over the past three years. Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥57.21 (vs JP¥40.24 in 1Q 2024) First quarter 2025 results: EPS: JP¥57.21 (up from JP¥40.24 in 1Q 2024). Revenue: JP¥4.09b (up 13% from 1Q 2024). Net income: JP¥191.0m (up 49% from 1Q 2024). Profit margin: 4.7% (up from 3.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to €52.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Electronic industry in Germany. Total returns to shareholders of 150% over the past three years. New Risk • Jul 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Shareholders have been diluted in the past year (5.1% increase in shares outstanding). New Risk • Jul 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Aankondiging • Jul 11
Nippon Avionics Co., Ltd. to Report Q1, 2025 Results on Aug 02, 2024 Nippon Avionics Co., Ltd. announced that they will report Q1, 2025 results on Aug 02, 2024 Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €62.00, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 143% over the past three years. Reported Earnings • Jun 27
Full year 2024 earnings released: EPS: JP¥659 (vs JP¥641 in FY 2023) Full year 2024 results: EPS: JP¥659 (up from JP¥641 in FY 2023). Revenue: JP¥18.1b (up 1.7% from FY 2023). Net income: JP¥2.15b (up 19% from FY 2023). Profit margin: 12% (up from 10% in FY 2023). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €56.00, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €51.50, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 17x in the Electronic industry in Germany. Total returns to shareholders of 148% over the past three years. Aankondiging • May 15
Nippon Avionics Co., Ltd., Annual General Meeting, Jun 21, 2024 Nippon Avionics Co., Ltd., Annual General Meeting, Jun 21, 2024. Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥659 (vs JP¥641 in FY 2023) Full year 2024 results: EPS: JP¥659 (up from JP¥641 in FY 2023). Revenue: JP¥18.1b (up 1.7% from FY 2023). Net income: JP¥2.15b (up 19% from FY 2023). Profit margin: 12% (up from 10% in FY 2023). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €60.00, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 14x in the Electronic industry in Germany. Total returns to shareholders of 148% over the past three years. Aankondiging • Apr 04
Nippon Avionics Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Nippon Avionics Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Trailing yield: 0.3%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €75.00, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 10x in the Electronic industry in Germany. Total returns to shareholders of 313% over the past three years. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €64.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 276% over the past three years. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥127 (vs JP¥155 in 3Q 2023) Third quarter 2024 results: EPS: JP¥127 (down from JP¥155 in 3Q 2023). Revenue: JP¥4.58b (down 3.7% from 3Q 2023). Net income: JP¥422.0m (down 3.7% from 3Q 2023). Profit margin: 9.2% (in line with 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Dec 30
Nippon Avionics Co., Ltd. to Report Q3, 2024 Results on Jan 31, 2024 Nippon Avionics Co., Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 New Risk • Nov 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risk Shareholders have been diluted in the past year (34% increase in shares outstanding). Reported Earnings • Oct 31
Second quarter 2024 earnings released: EPS: JP¥192 (vs JP¥209 in 2Q 2023) Second quarter 2024 results: EPS: JP¥192. Revenue: JP¥5.06b (up 10% from 2Q 2023). Net income: JP¥616.0m (up 4.4% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Aankondiging • Sep 28
Nippon Avionics Co., Ltd. to Report Q2, 2024 Results on Oct 30, 2023 Nippon Avionics Co., Ltd. announced that they will report Q2, 2024 results on Oct 30, 2023 Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €34.80, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 134% over the past three years. Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥40.24 (vs JP¥22.31 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥40.24 (up from JP¥22.31 loss in 1Q 2023). Revenue: JP¥3.61b (up 11% from 1Q 2023). Net income: JP¥128.0m (up JP¥191.0m from 1Q 2023). Profit margin: 3.6% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 30% per year. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €33.60, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 21x in the Electronic industry in Germany. Total returns to shareholders of 50% over the past three years. Buying Opportunity • May 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.7%. The fair value is estimated to be €35.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 37%. Reported Earnings • May 16
Full year 2023 earnings released: EPS: JP¥643 (vs JP¥575 in FY 2022) Full year 2023 results: EPS: JP¥643 (up from JP¥575 in FY 2022). Revenue: JP¥17.8b (down 7.7% from FY 2022). Net income: JP¥1.82b (up 12% from FY 2022). Profit margin: 10% (up from 8.5% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Aankondiging • May 14
Nippon Avionics Co., Ltd. (TSE:6946) announces an Equity Buyback for 75,000 shares, representing 2.35% for ¥300 million. Nippon Avionics Co., Ltd. (TSE:6946) announces a share repurchase program. Under the program, the company will repurchase up to 75,000 shares, representing 2.35% of its share capital, for ¥300 million.The purpose of the program is to increase capital efficiency and improve corporate value. rice field. The program will expire on March 31, 2024. As of March 31, 2023, the company had 3,186,695 shares in issue (excluding treasury stock) and 4,467 shares in treasury. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €31.80, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 25x in the Electronic industry in Germany. Total returns to shareholders of 181% over the past three years. Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: JP¥155 (vs JP¥89.14 in 3Q 2022) Third quarter 2023 results: EPS: JP¥155 (up from JP¥89.14 in 3Q 2022). Revenue: JP¥4.76b (up 5.1% from 3Q 2022). Net income: JP¥438.0m (up 74% from 3Q 2022). Profit margin: 9.2% (up from 5.6% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 14
Nippon Avionics Co., Ltd. to Report Q3, 2023 Results on Jan 30, 2023 Nippon Avionics Co., Ltd. announced that they will report Q3, 2023 results on Jan 30, 2023 Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 16% share price gain to €21.80, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 26x in the Electronic industry in Germany. Total returns to shareholders of 146% over the past three years. Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. Part-Time External Corporate Auditor Maiko Chihara is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥209 (vs JP¥246 in 2Q 2022) Second quarter 2023 results: EPS: JP¥209 (down from JP¥246 in 2Q 2022). Revenue: JP¥4.60b (down 13% from 2Q 2022). Net income: JP¥590.0m (down 15% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 23
Nippon Avionics Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Nippon Avionics Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Aug 03
First quarter 2023 earnings released: JP¥22.31 loss per share (vs JP¥63.41 profit in 1Q 2022) First quarter 2023 results: JP¥22.31 loss per share (down from JP¥63.41 profit in 1Q 2022). Revenue: JP¥3.26b (down 25% from 1Q 2022). Net loss: JP¥63.0m (down 135% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 11
Nippon Avionics Co., Ltd. to Report Q1, 2023 Results on Aug 02, 2022 Nippon Avionics Co., Ltd. announced that they will report Q1, 2023 results on Aug 02, 2022 Reported Earnings • Jun 25
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥19.2b (down 4.8% from FY 2021). Net income: JP¥1.63b (up 58% from FY 2021). Profit margin: 8.5% (up from 5.1% in FY 2021). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 27% share price gain to €27.20, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 25x in the Electronic industry in Germany. Total returns to shareholders of 213% over the past three years. Aankondiging • May 26
Nippon Avionics Co., Ltd. (TSE:6946) announces an Equity Buyback for 5,000 shares, representing 0.18% for ¥10 million. Nippon Avionics Co., Ltd. (TSE:6946) announces a share repurchase program. Under the program, the company will repurchase up to 5,000 shares, representing 0.18% of its share capital, for ¥10 million. The repurchased shares will be used in transfer-restricted share compensation system for directors and executive officers. The program will expire on May 27, 2022. As of April 30, 2022, the company had 2,830,000 shares in issue (excluding treasury stock) and 4,037 shares in treasury. Reported Earnings • May 19
Full year 2022 earnings released: EPS: JP¥575 (vs JP¥365 in FY 2021) Full year 2022 results: EPS: JP¥575 (up from JP¥365 in FY 2021). Revenue: JP¥19.2b (down 4.8% from FY 2021). Net income: JP¥1.63b (up 58% from FY 2021). Profit margin: 8.5% (up from 5.1% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 25% share price gain to €23.60, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 21x in the Electronic industry in Germany. Total returns to shareholders of 159% over the past three years. Aankondiging • May 18
Nippon Avionics Co., Ltd., Annual General Meeting, Jun 22, 2022 Nippon Avionics Co., Ltd., Annual General Meeting, Jun 22, 2022. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. Part-Time External Corporate Auditor Maiko Chihara is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • Apr 08
Nippon Avionics Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Nippon Avionics Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 17% share price gain to €17.80, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 77% over the past three years. Reported Earnings • Jan 29
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥89.13 (down from JP¥108 in 3Q 2021). Revenue: JP¥4.53b (down 15% from 3Q 2021). Net income: JP¥252.0m (down 17% from 3Q 2021). Profit margin: 5.6% (down from 5.7% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improved over the past week After last week's 18% share price gain to €24.00, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 27x in the Electronic industry in Germany. Total returns to shareholders of 133% over the past three years. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 16% share price gain to €20.60, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 29x in the Electronic industry in Germany. Total returns to shareholders of 85% over the past three years. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥246 (vs JP¥176 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥5.27b (down 3.1% from 2Q 2021). Net income: JP¥694.0m (up 40% from 2Q 2021). Profit margin: 13% (up from 9.1% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥246 (vs JP¥176 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥5.27b (down 3.1% from 2Q 2021). Net income: JP¥694.0m (up 40% from 2Q 2021). Profit margin: 13% (up from 9.1% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS JP¥63.39 (vs JP¥61.64 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥4.37b (up 18% from 1Q 2021). Net income: JP¥179.0m (up JP¥353.0m from 1Q 2021). Profit margin: 4.1% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 28
Full year 2021 earnings released: EPS JP¥365 (vs JP¥26.92 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥20.2b (up 20% from FY 2020). Net income: JP¥1.03b (up JP¥954.0m from FY 2020). Profit margin: 5.1% (up from 0.5% in FY 2020). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improved over the past week After last week's 23% share price gain to JP¥38.20, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 33x in the Electronic industry in Germany. Total returns to shareholders of 179% over the past three years. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 25% share price gain to JP¥28.00, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 33x in the Electronic industry in Germany. Total returns to shareholders of 95% over the past three years. Reported Earnings • May 29
Full year 2021 earnings released: EPS JP¥365 (vs JP¥26.92 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥20.2b (up 20% from FY 2020). Net income: JP¥1.03b (up JP¥954.0m from FY 2020). Profit margin: 5.1% (up from 0.5% in FY 2020). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥26.20, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 30x in the Electronic industry in Germany. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥18.70, the stock is trading at a trailing P/E ratio of 5.2x, up from the previous P/E ratio of 4.4x. This compares to an average P/E of 32x in the Electronic industry in Germany. Total returns to shareholders over the past three years are 19%. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥108 (vs JP¥84.31 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥5.33b (up 47% from 3Q 2020). Net income: JP¥305.0m (up JP¥543.0m from 3Q 2020). Profit margin: 5.7% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 12
Nippon Avionics Co., Ltd. to Report Q3, 2021 Results on Jan 28, 2021 Nippon Avionics Co., Ltd. announced that they will report Q3, 2021 results on Jan 28, 2021 Is New 90 Day High Low • Jan 05
New 90-day high: €20.40 The company is up 9.0% from its price of €18.80 on 06 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 12% over the same period. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥20.40, the stock is trading at a trailing P/E ratio of 9.4x, up from the previous P/E ratio of 8x. This compares to an average P/E of 30x in the Electronic industry in Germany. Total returns to shareholders over the past three years are 5.2%. Reported Earnings • Nov 07
Second quarter 2021 earnings released: EPS JP¥176 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥5.44b (up 26% from 2Q 2020). Net income: JP¥497.0m (up JP¥600.0m from 2Q 2020). Profit margin: 9.1% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total profits of JP¥796.0m, up 85% from the prior year. Total revenue was JP¥18.2b over the last 12 months, up 5.0% from the prior year. Aankondiging • Oct 10
Nippon Avionics Co., Ltd. to Report Q2, 2021 Results on Oct 29, 2020 Nippon Avionics Co., Ltd. announced that they will report Q2, 2021 results on Oct 29, 2020