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Dai Nippon Printing

DB:DNP
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DNP
DB
¥783B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Dai Nippon Printing Co., Ltd. primarily engages in printing business worldwide. The last earnings update was 70 days ago. More info.


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DNP Share Price and Events
7 Day Returns
-0.8%
DB:DNP
1.8%
DE Commercial Services
1%
DE Market
1 Year Returns
18.2%
DB:DNP
-6.6%
DE Commercial Services
-5.6%
DE Market
DNP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Dai Nippon Printing (DNP) -0.8% 5% 2% 18.2% 20.6% 59.2%
DE Commercial Services 1.8% 3.4% 11.6% -6.6% 4.2% -41.3%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • DNP outperformed the Commercial Services industry which returned -6.6% over the past year.
  • DNP outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
DNP
Industry
5yr Volatility vs Market

DNP Value

 Is Dai Nippon Printing 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 Dai Nippon Printing 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 Dai Nippon Printing.

DB:DNP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
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:DNP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 30.86%) (19.61%))
0.889
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.889 * 5.96%)
5.53%

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

The calculations below outline how an intrinsic value for Dai Nippon Printing 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:DNP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 5.53%)
2019 26,300.00 Analyst x1 24,922.36
2020 28,800.00 Analyst x1 25,861.83
2021 36,300.00 Analyst x1 30,889.22
2022 41,852.27 Est @ 15.3% 33,748.36
2023 46,361.96 Est @ 10.78% 35,426.55
2024 49,890.60 Est @ 7.61% 36,125.95
2025 52,582.78 Est @ 5.4% 36,080.90
2026 54,604.96 Est @ 3.85% 35,505.81
2027 56,112.27 Est @ 2.76% 34,574.71
2028 57,234.89 Est @ 2% 33,419.12
Present value of next 10 years cash flows ¥326,554.81
DB:DNP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥57,234.89 × (1 + 0.23%) ÷ (5.53% – 0.23%)
¥1,082,421.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥1,082,421.62 ÷ (1 + 5.53%)10
¥632,019.72
DB:DNP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥326,554.81 + ¥632,019.72
¥958,574.53
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥958,574.53 / 301.82
¥3175.97
DB:DNP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:DNP represents 0.00789x of TSE:7912
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00789x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 3,175.97 x 0.00789
€25.05
Value per share (EUR) From above. €25.05
Current discount Discount to share price of €20.46
= -1 x (€20.46 - €25.05) / €25.05
18.4%

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

Current Discount
Amount off the current price Dai Nippon Printing is available for.
Intrinsic value
18%
Share price is €20.46 vs Future cash flow value of €25.05
Current Discount Checks
For Dai Nippon Printing to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Dai Nippon Printing's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Dai Nippon Printing's share price is below the future cash flow value, but not 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 Dai Nippon Printing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Dai Nippon Printing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:DNP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥186.07
TSE:7912 Share Price ** TSE (2019-04-24) in JPY ¥2593
Europe Commercial Services Industry PE Ratio Median Figure of 105 Publicly-Listed Commercial Services Companies 16.84x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

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

** Primary Listing of Dai Nippon Printing.

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

= TSE:7912 Share Price ÷ EPS (both in JPY)

= 2593 ÷ 186.07

13.94x

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

  • Dai Nippon Printing is good value based on earnings compared to the Europe Commercial Services industry average.
  • Dai Nippon Printing is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Dai Nippon Printing's expected growth come at a high price?
Raw Data
DB:DNP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-5.2%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 53 Publicly-Listed Commercial Services Companies 1.39x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.94x ÷ -5.2%

-2.68x

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

  • Dai Nippon Printing earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Dai Nippon Printing's assets?
Raw Data
DB:DNP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥3,469.76
TSE:7912 Share Price * TSE (2019-04-24) in JPY ¥2593
Germany Commercial Services Industry PB Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 2.04x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:DNP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:7912 Share Price ÷ Book Value per Share (both in JPY)

= 2593 ÷ 3,469.76

0.75x

* Primary Listing of Dai Nippon Printing.

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

  • Dai Nippon Printing is good value based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess Dai Nippon Printing'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Dai Nippon Printing has a total score of 3/6, 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.

DNP Future Performance

 How is Dai Nippon Printing expected to perform in the next 1 to 3 years based on estimates from 2 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
-5.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Dai Nippon Printing expected to grow at an attractive rate?
  • Dai Nippon Printing's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Dai Nippon Printing's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Dai Nippon Printing's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:DNP Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:DNP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -5.2%
DB:DNP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 0.4%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 31.3%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:DNP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:DNP Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 1,419,000 1
2021-03-31 1,418,000 101,300 36,750 2
2020-03-31 1,403,250 98,800 32,050 2
2019-03-31 1,400,150 77,700 29,650 2
DB:DNP Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 1,407,658 56,136
2018-09-30 1,410,316 67,002 65,861
2018-06-30 1,411,499 30,002
2018-03-31 1,412,251 48,457 27,501
2017-12-31 1,411,069 -3,117
2017-09-30 1,400,178 52,878 -11,344
2017-06-30 1,404,093 32,088
2017-03-31 1,410,172 71,944 25,226
2016-12-31 1,415,815 31,686
2016-09-30 1,430,475 75,045 30,188
2016-06-30 1,446,741 26,250
2016-03-31 1,455,916 72,629 33,587

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Dai Nippon Printing's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Dai Nippon Printing's revenue is expected to grow by 0.4% 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:DNP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Dai Nippon Printing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DNP Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31
2021-03-31 124.20 149.00 99.40 2.00
2020-03-31 107.20 121.30 93.10 2.00
2019-03-31 98.30 103.70 92.90 2.00
DB:DNP Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 186.07
2018-09-30 218.30
2018-06-30 99.40
2018-03-31 90.77
2017-12-31 -10.24
2017-09-30 -37.07
2017-06-30 104.32
2017-03-31 81.57
2016-12-31 101.91
2016-09-30 96.57
2016-06-30 83.51
2016-03-31 106.19

*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.
  • Dai Nippon Printing is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Dai Nippon Printing'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 Germany 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.
Dai Nippon Printing has a total score of 0/6, 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.

DNP Past Performance

  How has Dai Nippon Printing 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 Dai Nippon Printing's growth in the last year to its industry (Commercial Services).
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.
  • Dai Nippon Printing's year on year earnings growth rate has been positive over the past 5 years.
  • Dai Nippon Printing has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Dai Nippon Printing has become profitable in the last year making it difficult to compare the Europe Commercial Services industry average.
Earnings and Revenue History
Dai Nippon Printing'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 Dai Nippon Printing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DNP Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,407,658.00 56,136.00 183,518.00 33,210.00
2018-09-30 1,410,316.00 65,861.00 184,119.00 33,210.00
2018-06-30 1,411,499.00 30,002.00 184,934.00 33,210.00
2018-03-31 1,412,251.00 27,501.00 185,556.00 33,210.00
2017-12-31 1,411,069.00 -3,117.00 187,343.00 31,375.00
2017-09-30 1,400,178.00 -11,344.00 185,399.00 31,375.00
2017-06-30 1,404,093.00 32,088.00 186,782.00 31,375.00
2017-03-31 1,410,172.00 25,226.00 188,162.00 31,375.00
2016-12-31 1,415,815.00 31,686.00 187,073.00 31,826.00
2016-09-30 1,430,475.00 30,188.00 189,765.00 31,826.00
2016-06-30 1,446,741.00 26,250.00 190,411.00 31,826.00
2016-03-31 1,455,916.00 33,587.00 189,535.00 31,826.00
2015-12-31 1,460,499.00 29,382.00 191,602.00 31,748.00
2015-09-30 1,469,317.00 30,310.00 189,829.00 31,748.00
2015-06-30 1,465,900.00 27,502.00 186,680.00 31,748.00
2015-03-31 1,462,118.00 26,923.00 185,533.00 31,748.00
2014-12-31 1,465,305.00 28,216.00 186,061.00 28,715.00
2014-09-30 1,454,659.00 25,929.00 183,930.00 28,715.00
2014-06-30 1,454,592.00 26,115.00 182,035.00 28,715.00
2014-03-31 1,448,550.00 25,641.00 180,266.00 28,715.00
2013-12-31 1,433,343.00 31,323.00 180,833.00 27,976.00
2013-09-30 1,435,548.00 33,687.00 180,978.00 27,976.00
2013-06-30 1,442,809.00 30,488.00 181,032.00 27,976.00
2013-03-31 1,446,607.00 19,217.00 182,948.00 27,976.00
2012-12-31 1,459,541.00 -10,526.00 181,235.00 29,318.00
2012-09-30 1,472,990.00 -24,382.00 182,385.00 29,318.00
2012-06-30 1,489,867.00 -24,941.00 185,693.00 29,318.00

*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.
  • Dai Nippon Printing has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Dai Nippon Printing used its assets less efficiently than the Europe Commercial Services industry average last year based on Return on Assets.
  • Dai Nippon Printing has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Dai Nippon Printing'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 Commercial Services 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.
Dai Nippon Printing has a total score of 2/6, 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.

DNP Health

 How is Dai Nippon Printing'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 Dai Nippon Printing's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Dai Nippon Printing is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Dai Nippon Printing's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Dai Nippon Printing'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 covered by short term assets, assets are 4.9x 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 Dai Nippon Printing Company Filings, last reported 3 months ago.

DB:DNP Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,097,549.00 153,443.00 228,406.00
2018-09-30 1,164,608.00 154,289.00 239,416.00
2018-06-30 1,121,750.00 153,207.00 234,205.00
2018-03-31 1,102,550.00 177,212.00 242,781.00
2017-12-31 1,105,016.00 149,568.00 191,527.00
2017-09-30 1,070,453.00 149,737.00 193,987.00
2017-06-30 1,077,315.00 149,809.00 190,324.00
2017-03-31 1,081,286.00 180,092.00 210,454.00
2016-12-31 1,052,911.00 155,782.00 173,092.00
2016-09-30 1,029,812.00 168,669.00 190,594.00
2016-06-30 1,046,235.00 167,765.00 151,779.00
2016-03-31 1,063,240.00 199,200.00 171,694.00
2015-12-31 1,098,452.00 169,724.00 145,773.00
2015-09-30 1,095,167.00 165,728.00 165,531.00
2015-06-30 1,115,910.00 165,620.00 179,793.00
2015-03-31 1,124,091.00 200,017.00 210,979.00
2014-12-31 1,074,741.00 163,389.00 183,898.00
2014-09-30 988,853.00 162,265.00 202,657.00
2014-06-30 978,004.00 163,759.00 206,541.00
2014-03-31 976,384.00 192,211.00 203,212.00
2013-12-31 970,827.00 168,263.00 171,564.00
2013-09-30 965,978.00 169,336.00 186,180.00
2013-06-30 948,640.00 217,785.00 223,615.00
2013-03-31 937,054.00 238,960.00 213,630.00
2012-12-31 908,321.00 165,337.00 174,975.00
2012-09-30 904,861.00 168,260.00 185,201.00
2012-06-30 900,832.00 217,291.00 207,707.00
  • Dai Nippon Printing's level of debt (14%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (17.4% vs 14% today).
  • Debt is well covered by operating cash flow (43.7%, greater than 20% of total debt).
  • Dai Nippon Printing earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Dai Nippon Printing'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. Dai Nippon Printing has a total score of 6/6, 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.

DNP Dividends

 What is Dai Nippon Printing'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
2.47%
Current annual income from Dai Nippon Printing dividends. Estimated to be 2.47% next year.
If you bought €2,000 of Dai Nippon Printing shares you are expected to receive €49 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?
  • Dai Nippon Printing's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Dai Nippon Printing's dividend is below the markets top 25% of dividend payers in Germany (3.7%).
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:DNP 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 2 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:DNP Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2022-03-31
2021-03-31 64.00 2.00
2020-03-31 64.00 2.00
2019-03-31 64.00 2.00
DB:DNP Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-13 64.000 2.490
2018-11-14 64.000 2.579
2018-11-13 64.000 2.521
2018-06-28 64.000 2.571
2018-05-11 64.000 2.647
2018-02-14 64.000 2.850
2018-02-13 64.000 2.935
2017-11-10 64.000 2.591
2017-11-09 64.000 2.407
2017-06-29 64.000 2.453
2017-05-12 64.000 2.572
2017-02-10 64.000 2.628
2017-02-09 64.000 2.729
2016-11-11 64.000 2.827
2016-11-10 64.000 3.087
2016-06-29 64.000 3.001
2016-05-12 64.000 2.922
2016-02-10 64.000 3.157
2016-02-09 64.000 3.207
2015-11-11 64.000 2.783
2015-11-10 64.000 2.611
2015-06-26 64.000 2.550
2015-05-14 64.000 2.455
2015-02-10 64.000 2.684
2015-02-05 64.000 2.956
2014-11-10 64.000 3.028
2014-11-06 64.000 3.004
2014-06-27 64.000 3.013
2014-05-13 64.000 3.132
2014-02-13 64.000 3.292
2014-02-06 64.000 3.233
2013-11-08 64.000 3.040
2013-11-07 64.000 3.186
2013-06-27 64.000 3.286
2013-05-13 64.000 3.609
2013-02-13 64.000 3.595
2013-02-07 64.000 4.132
2012-11-09 64.000 4.919
2012-11-08 64.000 5.634
2012-08-09 64.000 5.711
2012-06-28 64.000 5.321
2012-02-13 64.000 4.539
2012-02-10 64.000 4.017
2011-11-11 64.000 4.190
2011-11-10 64.000 4.129
2011-08-11 64.000 4.011
2011-05-13 64.000 3.573
2011-02-08 64.000 3.156
2011-02-03 64.000 2.842
2010-11-12 64.000 2.900
2010-11-11 64.000 3.057
2010-06-29 64.000 3.095
2010-05-14 64.000 2.885
2010-02-03 64.000 2.574
2009-05-15 64.000 2.628

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

  • Dividends per share have been stable in the past 10 years.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Dai Nippon Printing's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x 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 Dai Nippon Printing'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 Dai Nippon Printing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Dai Nippon Printing has a total score of 3/6, see the detailed checks below.


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

DNP Management

 What is the CEO of Dai Nippon Printing'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
Yoshinari Kitajima
TENURE AS CEO 0.8 years
CEO Bio

Mr. Yoshinari Kitajima is President at Dai Nippon Printing Co. Ltd since 2018. Mr. Kitajima served as an Executive Vice President and Director of Dai Nippon Printing Co. Ltd until 2018. Mr. Kitajima served as a Managing Director of Dai Nippon Printing Co. Ltd.

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

Average tenure of the Dai Nippon Printing management team in years:

2
Average Tenure
  • The tenure for the Dai Nippon Printing management team is about average.
Management Team

Masayoshi Yamada

TITLE
Executive VP & Director
COMPENSATION
¥127M

Koichi Takanami

TITLE
Executive VP & Director
COMPENSATION
¥127M

Yoshinari Kitajima

TITLE
President & Director
TENURE
0.8 yrs

Masahiko Wada

TITLE
Senior MD & Director

Tetsuji Morino

TITLE
Senior MD & Director

Motoharu Kitajima

TITLE
Senior Executive Corporate Officer

Takashi Saito

TITLE
Senior Executive Corporate Officer

Tokuji Kanda

TITLE
Senior MD & Director
TENURE
3.8 yrs

Sakae Hikita

TITLE
Senior Executive Corporate Officer
TENURE
2.8 yrs

Kenji Miya

TITLE
Managing Director & Director
TENURE
1.3 yrs
Board of Directors

Yoshitoshi Kitajima

TITLE
Chairman
COMPENSATION
¥158M
AGE
85
TENURE
1.3 yrs

Masayoshi Yamada

TITLE
Executive VP & Director
COMPENSATION
¥127M

Koichi Takanami

TITLE
Executive VP & Director
COMPENSATION
¥127M

Yoshinari Kitajima

TITLE
President & Director

Masahiko Wada

TITLE
Senior MD & Director

Tetsuji Morino

TITLE
Senior MD & Director

Tokuji Kanda

TITLE
Senior MD & Director

Kenji Miya

TITLE
Managing Director & Director
TENURE
1.3 yrs

Satoru Inoue

TITLE
MD & Director

Makoto Matsuura

TITLE
Outside Statutory Auditor
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 Dai Nippon Printing'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. Dai Nippon Printing 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.

DNP News

Simply Wall St News

DNP Company Info

Description

Dai Nippon Printing Co., Ltd. primarily engages in printing business worldwide. Its Information Communication segment offers magazines, books, dictionaries, newspapers, textbooks, DVDs, multimedia software, bookstore network, education and publications distribution, etc.; catalogs, calendars, point-of-purchase materials, flyers, pamphlets, and posters, as well as event planning and execution, store design, customer service center operation, online services, household budget-tracking application, digital signage, etc.; personalized direct mail, smart and magnetic cards, SIM cards, hologram ribbons, merchandise vouchers, bank books, business forms, etc.; and dye-sublimation thermal transfer printing media and photo printers, ID photo kiosk and direct transfer ribbons, etc. The company’s Lifestyle and Industrial Supplies segment provides packaging for processed foods, toiletries and pharmaceuticals, universal design products, barrier films, biomass plastic films, PET plastic bottles and preforms, aseptic filling systems, packaging for Japanese-style space food, medicine packaging for daily behavior monitoring systems, etc. This segment also offers residential interior materials, exterior materials for buildings, decorative materials, automotive interior materials, interior coverings, surface materials, etc.; and transparent barrier films, photovoltaic module components, bus line sheets, pouch for lithium-ion battery, etc. Its Electronics segment provides Color filters, large-scale photomask, touch panel sensors, optical and electrode films, display system for ultra-short focus projector, etc.; and semiconductor photomasks, master templates, hard disk drive suspensions, lead frames, metal substrates, camera modules, near field communication modules, electronic paper display systems, micro electro mechanical systems, etc. The company’s Beverages segment produces and sells soft drinks. Dai Nippon Printing Co., Ltd. was founded in 1876 and is headquartered in Tokyo, Japan.

Details
Name: Dai Nippon Printing Co., Ltd.
DNP
Exchange: DB
Founded: 1876
¥6,254,672,348
301,820,889
Website: http://www.dnp.co.jp
Address: Dai Nippon Printing Co., Ltd.
1-1-1, Ichigaya-Kagacho,
Shinjuku-ku,
Tokyo,
162-8001,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 7912 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK DNPC.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB DNP Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK DNPL.Y SPONSORED ADR Pink Sheets LLC US USD 15. May 1979
Number of employees
Current staff
Staff numbers
38,627
Dai Nippon Printing employees.
Industry
Commercial Printing
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:55
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/04
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


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.