Nissin Foods Holdings Co.,Ltd.

DB:NF2 Stock Report

Market Cap: €6.9b

Nissin Foods HoldingsLtd Valuation

Is NF2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NF2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NF2 (€22.8) is trading below our estimate of fair value (€34.88)

Significantly Below Fair Value: NF2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NF2?

Key metric: As NF2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NF2. This is calculated by dividing NF2's market cap by their current earnings.
What is NF2's PE Ratio?
PE Ratio22x
EarningsJP¥51.21b
Market CapJP¥1.13t

Price to Earnings Ratio vs Peers

How does NF2's PE Ratio compare to its peers?

The above table shows the PE ratio for NF2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.5x
SZU Südzucker
6.2x-10.2%€2.1b
SSH Südwestdeutsche Salzwerke
14.4xn/a€572.7m
NLM FRoSTA
11.7xn/a€398.5m
KWS KWS SAAT SE KGaA
9.5x1.2%€1.9b
NF2 Nissin Foods HoldingsLtd
22x5.2%€1.1t

Price-To-Earnings vs Peers: NF2 is expensive based on its Price-To-Earnings Ratio (22x) compared to the peer average (10.5x).

Price to Earnings Ratio vs Industry

How does NF2's PE Ratio compare vs other companies in the European Food Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NF2 22.0xIndustry Avg. 13.7xNo. of Companies21PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NF2 is expensive based on its Price-To-Earnings Ratio (22x) compared to the European Food industry average (13.7x).

Price to Earnings Ratio vs Fair Ratio

What is NF2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NF2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22x
Fair PE Ratio19.5x

Price-To-Earnings vs Fair Ratio: NF2 is expensive based on its Price-To-Earnings Ratio (22x) compared to the estimated Fair Price-To-Earnings Ratio (19.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NF2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€22.80
€30.40
+33.3%
11.5%€35.55€24.52n/a11
Dec ’25€25.00
€31.10
+24.4%
11.3%€35.97€24.81n/a10
Nov ’25€24.40
€31.28
+28.2%
12.0%€36.17€24.11n/a10
Oct ’25€25.00
€32.21
+28.9%
11.8%€36.69€24.88n/a10
Sep ’25€24.00
€32.40
+35.0%
12.3%€36.55€24.78n/a10
Aug ’25€27.00
€31.40
+16.3%
10.7%€36.26€25.73n/a10
Jul ’25€23.40
€30.85
+31.9%
10.6%€35.76€25.38n/a10
Jun ’25€23.20
€32.29
+39.2%
9.5%€36.50€25.90n/a11
May ’25€25.00
€34.07
+36.3%
9.8%€40.48€28.21n/a11
Apr ’25€25.40
€34.70
+36.6%
10.5%€41.04€28.60n/a10
Mar ’25€26.80
€34.89
+30.2%
9.1%€40.61€28.31n/a9
Feb ’25€29.80
€35.57
+19.4%
7.5%€41.09€31.13n/a9
Jan ’25€31.20
€35.83
+14.8%
6.3%€38.69€32.24n/a9
Dec ’24€30.50
€33.10
+8.5%
11.8%€37.56€26.09€25.0010
Nov ’24€27.67
€30.94
+11.8%
8.2%€34.14€26.50€24.4010
Oct ’24€26.00
€29.66
+14.1%
9.4%€33.78€26.39€25.008
Sep ’24€26.17
€29.28
+11.9%
9.1%€33.84€26.43€24.009
Aug ’24€25.67
€28.25
+10.1%
8.9%€32.18€24.35€27.009
Jul ’24€25.00
€28.25
+13.0%
8.9%€32.18€24.35€23.409
Jun ’24€27.00
€28.92
+7.1%
10.6%€33.93€24.55€23.209
May ’24€29.50
€29.34
-0.5%
9.0%€34.42€24.91€25.009
Apr ’24€27.17
€29.33
+8.0%
8.5%€33.20€25.20€25.409
Mar ’24€25.50
€28.72
+12.6%
10.7%€33.55€24.70€26.8011
Feb ’24€23.33
€27.23
+16.7%
10.0%€31.81€23.56€29.8011
Jan ’24€24.00
€26.69
+11.2%
8.6%€31.06€23.01€31.2012
Dec ’23€23.83
€26.87
+12.8%
8.9%€31.59€22.23€30.5012

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 15:15
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Nissin Foods Holdings Co.,Ltd. is covered by 27 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Takayuki HayanoBarclays
Shumpei KanekoBofA Global Research
Ahmad HalimCFRA Equity Research