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Nippon Sheet Glass Company

DB:NI9
Snowflake Description

Very undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NI9
DB
¥67B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Nippon Sheet Glass Company, Limited manufactures and sells glass and glazing products worldwide. The last earnings update was 11 days ago. More info.


Add to Portfolio Compare Print
  • Nippon Sheet Glass Company has significant price volatility in the past 3 months.
NI9 Share Price and Events
7 Day Returns
-5.5%
DB:NI9
1.8%
DE Building
0.3%
DE Market
1 Year Returns
-33.3%
DB:NI9
-13.6%
DE Building
-11.6%
DE Market
NI9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nippon Sheet Glass Company (NI9) -5.5% -19.5% -23.2% -33.3% -19.5% -31.6%
DE Building 1.8% -0.5% 1.2% -13.6% 19.3% 22%
DE Market 0.3% -3.8% 2.5% -11.6% 10.1% 7.9%
1 Year Return vs Industry and Market
  • NI9 underperformed the Building industry which returned -13.6% over the past year.
  • NI9 underperformed the Market in Germany which returned -11.6% over the past year.
Price Volatility
NI9
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Nippon Sheet Glass Company undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Nippon Sheet Glass Company to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Nippon Sheet Glass Company.

DB:NI9 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:NI9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Building Unlevered Beta Simply Wall St/ S&P Global 1.15
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.153 (1 + (1- 30.86%) (555.05%))
4.066
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

Discounted Cash Flow Calculation for DB:NI9 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Nippon Sheet Glass Company is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:NI9 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 12.15%)
2019 13,666.67 Analyst x3 12,186.28
2020 -36,345.00 Analyst x1 -28,897.59
2021 23,333.33 Analyst x3 16,542.54
2022 28,442.00 Analyst x1 17,980.18
2023 32,392.98 Est @ 13.89% 18,259.68
2024 35,565.01 Est @ 9.79% 17,876.14
2025 38,027.19 Est @ 6.92% 17,043.29
2026 39,896.05 Est @ 4.91% 15,944.01
2027 41,295.83 Est @ 3.51% 14,715.75
2028 42,338.30 Est @ 2.52% 13,452.97
Present value of next 10 years cash flows ¥115,103.26
DB:NI9 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥42,338.30 × (1 + 0.23%) ÷ (12.15% – 0.23%)
¥355,996.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥355,996.93 ÷ (1 + 12.15%)10
¥113,117.79
DB:NI9 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥115,103.26 + ¥113,117.79
¥228,221.05
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥228,221.05 / 90.61
¥2518.72
DB:NI9 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:NI9 represents 0.00799x of TSE:5202
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00799x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,518.72 x 0.00799
€20.12
Value per share (EUR) From above. €20.12
Current discount Discount to share price of €5.87
= -1 x (€5.87 - €20.12) / €20.12
70.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Nippon Sheet Glass Company is available for.
Intrinsic value
>50%
Share price is €5.87 vs Future cash flow value of €20.12
Current Discount Checks
For Nippon Sheet Glass Company to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Nippon Sheet Glass Company's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Nippon Sheet Glass Company's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Nippon Sheet Glass Company's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nippon Sheet Glass Company's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NI9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥115.16
TSE:5202 Share Price ** TSE (2019-05-21) in JPY ¥735
Germany Building Industry PE Ratio Median Figure of 6 Publicly-Listed Building Companies 18.04x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Nippon Sheet Glass Company.

DB:NI9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:5202 Share Price ÷ EPS (both in JPY)

= 735 ÷ 115.16

6.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nippon Sheet Glass Company is good value based on earnings compared to the DE Building industry average.
  • Nippon Sheet Glass Company is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Nippon Sheet Glass Company's expected growth come at a high price?
Raw Data
DB:NI9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
24.3%per year
Europe Building Industry PEG Ratio Median Figure of 34 Publicly-Listed Building Companies 1.5x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

DB:NI9 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.38x ÷ 24.3%

0.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nippon Sheet Glass Company is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Nippon Sheet Glass Company's assets?
Raw Data
DB:NI9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥1,366.38
TSE:5202 Share Price * TSE (2019-05-21) in JPY ¥735
Germany Building Industry PB Ratio Median Figure of 8 Publicly-Listed Building Companies 1.2x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.79x
DB:NI9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5202 Share Price ÷ Book Value per Share (both in JPY)

= 735 ÷ 1,366.38

0.54x

* Primary Listing of Nippon Sheet Glass Company.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nippon Sheet Glass Company is good value based on assets compared to the DE Building industry average.
X
Value checks
We assess Nippon Sheet Glass Company's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Building industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Building industry average (and greater than 0)? (1 check)
  5. Nippon Sheet Glass Company has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Nippon Sheet Glass Company expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nippon Sheet Glass Company expected to grow at an attractive rate?
  • Nippon Sheet Glass Company's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Nippon Sheet Glass Company's earnings growth is expected to exceed the Germany market average.
  • Nippon Sheet Glass Company's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NI9 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NI9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 24.3%
DB:NI9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 1.5%
Germany Building Industry Earnings Growth Rate Market Cap Weighted Average 11%
Europe Building Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:NI9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NI9 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 649,800 58,442 25,200 1
2021-03-31 626,475 52,251 17,625 4
2020-03-31 616,340 49,464 15,325 5
DB:NI9 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 612,789 29,030 10,423
2018-12-31 613,904 33,444 16,541
2018-09-30 615,006 34,011 8,713
2018-06-30 615,376 38,177 6,691
2018-03-31 603,852 37,163 4,330
2017-12-31 599,487 29,071 -702
2017-09-30 587,986 30,565 6,242
2017-06-30 577,154 27,367 4,206
2017-03-31 580,795 30,429 5,605
2016-12-31 580,326 28,465 -31,147
2016-09-30 597,235 30,936 -42,859
2016-06-30 617,564 31,250 -44,555

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nippon Sheet Glass Company's earnings are expected to grow significantly at over 20% yearly.
  • Nippon Sheet Glass Company's revenue is expected to grow by 1.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:NI9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Nippon Sheet Glass Company Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NI9 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 264.10 264.10 264.10 1.00
2021-03-31 190.73 215.20 171.20 3.00
2020-03-31 157.60 174.00 133.40 3.00
DB:NI9 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 115.16
2018-12-31 182.82
2018-09-30 96.33
2018-06-30 73.99
2018-03-31 47.90
2017-12-31 -7.77
2017-09-30 69.05
2017-06-30 46.55
2017-03-31 62.04
2016-12-31 -344.76
2016-09-30 -86.25
2016-06-30 -493.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Nippon Sheet Glass Company is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Nippon Sheet Glass Company's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Nippon Sheet Glass Company has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Nippon Sheet Glass Company performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Nippon Sheet Glass Company's growth in the last year to its industry (Building).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Nippon Sheet Glass Company has delivered over 20% year on year earnings growth in the past 5 years.
  • Nippon Sheet Glass Company's 1-year earnings growth exceeds its 5-year average (140.7% vs 32.9%)
  • Nippon Sheet Glass Company's earnings growth has exceeded the DE Building industry average in the past year (140.7% vs -24.6%).
Earnings and Revenue History
Nippon Sheet Glass Company's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Nippon Sheet Glass Company Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NI9 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 612,789.00 10,423.00 120,061.00
2018-12-31 613,904.00 16,541.00 125,202.00
2018-09-30 615,006.00 8,713.00 124,208.00
2018-06-30 615,376.00 6,691.00 123,164.00
2018-03-31 603,852.00 4,330.00 121,149.00
2017-12-31 599,487.00 -702.00 120,455.00
2017-09-30 587,986.00 6,242.00 118,670.00
2017-06-30 577,154.00 4,206.00 116,509.00
2017-03-31 580,795.00 5,605.00 116,756.00
2016-12-31 580,326.00 -31,147.00 116,895.00
2016-09-30 597,235.00 -42,859.00 120,188.00
2016-06-30 617,564.00 -44,555.00 124,963.00
2016-03-31 629,172.00 -49,838.00 127,355.00
2015-12-31 639,679.00 -16,409.00 130,285.00
2015-09-30 638,971.00 -8,526.00 129,922.00
2015-06-30 633,108.00 5,249.00 128,498.00
2015-03-31 626,713.00 1,668.00 127,919.00
2014-12-31 621,474.00 1,161.00 126,782.00
2014-09-30 613,410.00 880.00 125,428.00
2014-06-30 611,149.00 -15,477.00 125,023.00
2014-03-31 606,095.00 -17,630.00 124,296.00
2013-12-31 587,613.00 -15,456.00 124,491.00
2013-09-30 562,830.00 -26,925.00 118,603.00
2013-06-30 540,815.00 -29,176.00 114,342.00
2013-03-31 521,346.00 -32,808.00 111,376.00
2012-12-31 516,400.00 -36,246.00 105,625.00
2012-09-30 534,296.00 -16,869.00 112,550.00
2012-06-30 538,282.00 -15,149.00 111,257.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Nippon Sheet Glass Company has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Nippon Sheet Glass Company used its assets less efficiently than the DE Building industry average last year based on Return on Assets.
  • Nippon Sheet Glass Company has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Nippon Sheet Glass Company's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Building industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Nippon Sheet Glass Company has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Nippon Sheet Glass Company's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Nippon Sheet Glass Company's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nippon Sheet Glass Company is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nippon Sheet Glass Company's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Nippon Sheet Glass Company's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Nippon Sheet Glass Company Company Filings, last reported 1 month ago.

DB:NI9 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 132,506.00 369,652.00 52,406.00
2018-12-31 128,652.00 378,872.00 40,933.00
2018-09-30 147,477.00 376,257.00 53,020.00
2018-06-30 135,059.00 375,835.00 53,245.00
2018-03-31 142,857.00 371,407.00 64,901.00
2017-12-31 143,758.00 385,957.00 51,991.00
2017-09-30 150,427.00 379,957.00 52,033.00
2017-06-30 140,709.00 385,999.00 57,757.00
2017-03-31 133,708.00 396,841.00 85,492.00
2016-12-31 100,689.00 427,937.00 58,294.00
2016-09-30 60,123.00 412,149.00 49,220.00
2016-06-30 68,698.00 426,982.00 55,984.00
2016-03-31 112,011.00 429,122.00 55,420.00
2015-12-31 170,348.00 469,235.00 74,838.00
2015-09-30 183,431.00 453,168.00 60,483.00
2015-06-30 209,405.00 462,545.00 67,718.00
2015-03-31 186,008.00 437,868.00 67,698.00
2014-12-31 206,019.00 467,666.00 64,282.00
2014-09-30 189,576.00 459,695.00 70,593.00
2014-06-30 165,526.00 450,736.00 59,411.00
2014-03-31 174,498.00 452,366.00 73,958.00
2013-12-31 186,626.00 455,246.00 54,979.00
2013-09-30 163,445.00 443,774.00 69,266.00
2013-06-30 166,619.00 443,461.00 65,652.00
2013-03-31 155,453.00 445,427.00 84,124.00
2012-12-31 151,563.00 425,753.00 41,673.00
2012-09-30 128,971.00 411,774.00 51,386.00
2012-06-30 135,996.00 398,445.00 40,324.00
  • Nippon Sheet Glass Company's level of debt (279%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (259.4% vs 279% today).
  • Debt is not well covered by operating cash flow (7.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess Nippon Sheet Glass Company's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Nippon Sheet Glass Company has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Nippon Sheet Glass Company's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.72%
Current annual income from Nippon Sheet Glass Company dividends. Estimated to be 4.23% next year.
If you bought €2,000 of Nippon Sheet Glass Company shares you are expected to receive €54 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Nippon Sheet Glass Company's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Nippon Sheet Glass Company's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:NI9 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Germany Building Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:NI9 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 30.00 1.00
2021-03-31 35.00 4.00
2020-03-31 27.50 4.00
DB:NI9 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-05-10 20.000 2.592
2018-11-01 30.000 3.246
2018-06-29 20.000 1.755
2018-05-11 20.000 1.818
2014-01-31 0.000 0.000
2013-11-08 0.000 0.000
2013-11-07 0.000 0.000
2013-08-05 0.000 0.000
2013-08-01 0.000 0.000
2013-06-28 0.000 0.000
2013-05-16 0.000 0.000
2013-01-31 0.000 0.000
2012-10-31 0.000 0.000
2012-06-29 30.000 4.807
2012-05-10 30.000 3.567
2012-02-06 60.000 4.909
2012-02-02 60.000 4.375
2011-11-04 60.000 4.130
2011-11-02 60.000 3.860
2011-08-04 60.000 3.313
2011-06-30 60.000 2.406
2011-05-12 60.000 2.417
2011-02-04 60.000 2.581
2011-02-03 60.000 2.753
2010-11-05 60.000 2.880
2010-11-04 60.000 3.325
2010-06-30 60.000 3.077
2010-05-14 60.000 2.498
2010-02-10 60.000 2.286
2010-02-04 60.000 2.622
2009-11-12 60.000 2.393

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Nippon Sheet Glass Company's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Nippon Sheet Glass Company's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Nippon Sheet Glass Company afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nippon Sheet Glass Company has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Nippon Sheet Glass Company's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Shigeki Mori
CEO Bio

Mr. Shigeki Mori serves as the Chief Executive Officer, President and Representative Executive Officer at Nippon Sheet Glass Co., Ltd. (NSG Group) and serves as its Director. Mr. Mori served as Head of Technical Glass at Nippon Sheet Glass Co., Ltd.

CEO Compensation
  • Insufficient data for Shigeki to compare compensation growth.
  • Insufficient data for Shigeki to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure of the Nippon Sheet Glass Company management team in years:

1.3
Average Tenure
  • The average tenure for the Nippon Sheet Glass Company management team is less than 2 years, this suggests a new team.
Management Team

Shigeki Mori

TITLE
Representative Executive Officer

Kenichi Morooka

TITLE
Representative Executive Officer
TENURE
3.1 yrs

Clemens Miller

TITLE
Representative Executive Officer
COMPENSATION
¥114M

Mike Greenall

TITLE
Chief Technology Officer
AGE
54
TENURE
1.3 yrs

Phil Wilkinson

TITLE
Chief Information Officer

Koichi Hiyoshi

TITLE
Executive Officer

Alan Graham

TITLE
Chief Compliance Officer

Yutaka Nakashima

TITLE
Chief Human Resources Officer & Executive Officer
TENURE
0.3 yrs

Melena Stanisci

TITLE
Head of Manufacturing Excellence & Head of Manufacturing

Paul Ravenscroft

TITLE
Head of Mergers & Acquisitions and Corporate Officer
Board of Directors Tenure

Average tenure of the Nippon Sheet Glass Company board of directors in years:

2.9
Average Tenure
  • The average tenure for the Nippon Sheet Glass Company board of directors is less than 3 years, this suggests a new board.
Board of Directors

Günter Zorn

TITLE
Chairman
TENURE
2.9 yrs

Shigeki Mori

TITLE
Representative Executive Officer

Kenichi Morooka

TITLE
Representative Executive Officer

Clemens Miller

TITLE
Representative Executive Officer
COMPENSATION
¥114M

Toshikuni Yamazaki

TITLE
External Director

Yasuyuki Kimoto

TITLE
External Director
AGE
69
TENURE
2.9 yrs

Masatoshi Matsuzaki

TITLE
External Director
AGE
68
TENURE
2.9 yrs

Yuji Takei

TITLE
External Director
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Nippon Sheet Glass Company's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Nippon Sheet Glass Company has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Nippon Sheet Glass Company, Limited manufactures and sells glass and glazing products worldwide. The company operates through Architectural, Automotive, Technical Glass, and Other segments. It offers architectural products, including solar control, thermal insulation, fire Protection, noise control, safety/security, self-cleaning, decoration, and solar energy glasses; glass systems; and low-iron float, very thin float, curved glass, and switchable glasses under the Pilkington brand. The company also provides automotive products, such as original equipment glazing systems to vehicle manufacturers; replacement glazing products to automotive glass replacement professionals; and glazing solutions for transport vehicles. In addition, Nippon Sheet Glass Company, Limited offers functional filler products under the MICROGLAS, METASHINE, FLEKA, and GLASFLAKE names; AGM separator, a component for valve regulated lead-acid batteries; PE separators to isolate electrodes, as well as to protect active materials of anode for sli and industrial batteries; glass mat for flooded-type batteries; and sleeve tubes used for an anode of clad type lead-acid batteries. Further, it provides glass cords and curlsorbers for industrial applications; SELFOC lens arrays and micro lenses; SELGUIDE, a light source for image scanning; Planar SELGUIDE, a surface light source; ultra-fine flat glasses, film-coated glasses for liquid crystal displays (LCDs), glasses for PDP front filters, and LCD modules; and optical fiber fluorescence detectors, as well as nanostructured optical elements on glass substrate. The company was formerly known as America Japan Sheet Glass Co., Ltd. and changed its name to Nippon Sheet Glass Company, Limited in 1931. Nippon Sheet Glass Company, Limited was founded in 1918 and is headquartered in Tokyo, Japan.

Details
Name: Nippon Sheet Glass Company, Limited
NI9
Exchange: DB
Founded: 1918
¥539,130,820
90,609,981
Website: http://www.nsg.com
Address: Nippon Sheet Glass Company, Limited
Sumitomo Fudosan Mita Twin Building,
West Wing,
Tokyo,
108-6321,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5202 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
DB NI9 Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK NPSG.Y UNSPONSORED ADR Pink Sheets LLC US USD 13. Oct 2008
Number of employees
Current staff
Staff numbers
26,957
Nippon Sheet Glass Company employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 21:52
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.