Nippon Telegraph and Telephone Corporation

TSE:9432 Stock Report

Market Cap: JP¥12.9t

Nippon Telegraph and Telephone Valuation

Is 9432 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 9432 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9432 (¥155.3) is trading below our estimate of fair value (¥239.37)

Significantly Below Fair Value: 9432 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9432?

Key metric: As 9432 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9432. This is calculated by dividing 9432's market cap by their current earnings.
What is 9432's PE Ratio?
PE Ratio11.1x
EarningsJP¥1.16t
Market CapJP¥12.90t

Price to Earnings Ratio vs Peers

How does 9432's PE Ratio compare to its peers?

The above table shows the PE ratio for 9432 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.1x
3774 Internet Initiative Japan
27.9x15.3%JP¥534.1b
9984 SoftBank Group
6x-51.2%JP¥13.6t
9433 KDDI
16.1x6.4%JP¥10.0t
9434 SoftBank
18.4x6.0%JP¥9.4t
9432 Nippon Telegraph and Telephone
11.1x4.4%JP¥12.9t

Price-To-Earnings vs Peers: 9432 is good value based on its Price-To-Earnings Ratio (11.1x) compared to the peer average (17.1x).

Price to Earnings Ratio vs Industry

How does 9432's PE Ratio compare vs other companies in the Asian Telecom Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
9432 11.1xIndustry Avg. 15.7xNo. of Companies28PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 9432 is good value based on its Price-To-Earnings Ratio (11.1x) compared to the Asian Telecom industry average (15.7x).

Price to Earnings Ratio vs Fair Ratio

What is 9432'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.

9432 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.1x
Fair PE Ratio16.3x

Price-To-Earnings vs Fair Ratio: 9432 is good value based on its Price-To-Earnings Ratio (11.1x) compared to the estimated Fair Price-To-Earnings Ratio (16.3x).

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 9432 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥155.30
JP¥175.42
+13.0%
12.5%JP¥240.00JP¥155.00n/a12
Dec ’25JP¥153.40
JP¥176.25
+14.9%
12.4%JP¥240.00JP¥155.00n/a12
Nov ’25JP¥147.40
JP¥175.75
+19.2%
12.3%JP¥240.00JP¥155.00n/a12
Oct ’25JP¥147.40
JP¥176.54
+19.8%
12.0%JP¥240.00JP¥155.00n/a13
Sep ’25JP¥155.70
JP¥181.87
+16.8%
13.0%JP¥240.00JP¥155.00n/a15
Aug ’25JP¥155.80
JP¥183.60
+17.8%
12.3%JP¥240.00JP¥160.00n/a15
Jul ’25JP¥156.20
JP¥185.60
+18.8%
12.1%JP¥240.00JP¥160.00n/a15
Jun ’25JP¥154.30
JP¥187.60
+21.6%
11.7%JP¥240.00JP¥160.00n/a15
May ’25JP¥170.50
JP¥199.00
+16.7%
9.1%JP¥240.00JP¥172.00n/a15
Apr ’25JP¥176.70
JP¥199.00
+12.6%
9.1%JP¥240.00JP¥172.00n/a15
Mar ’25JP¥180.70
JP¥199.69
+10.5%
8.9%JP¥240.00JP¥172.00n/a16
Feb ’25JP¥187.20
JP¥196.56
+5.0%
8.6%JP¥240.00JP¥175.00n/a16
Jan ’25JP¥172.30
JP¥196.56
+14.1%
8.6%JP¥240.00JP¥175.00n/a16
Dec ’24JP¥173.20
JP¥191.50
+10.6%
10.3%JP¥240.00JP¥156.00JP¥153.4018
Nov ’24JP¥178.30
JP¥190.21
+6.7%
10.0%JP¥240.00JP¥156.00JP¥147.4019
Oct ’24JP¥176.60
JP¥189.16
+7.1%
10.0%JP¥240.00JP¥156.00JP¥147.4019
Sep ’24JP¥168.60
JP¥186.16
+10.4%
9.4%JP¥240.00JP¥156.00JP¥155.7019
Aug ’24JP¥162.30
JP¥186.39
+14.8%
9.3%JP¥240.00JP¥156.00JP¥155.8019
Jul ’24JP¥170.50
JP¥185.59
+8.8%
9.4%JP¥240.00JP¥156.00JP¥156.2018
Jun ’24JP¥159.64
JP¥185.44
+16.2%
9.0%JP¥240.00JP¥156.00JP¥154.3017
May ’24JP¥167.20
JP¥183.91
+10.0%
9.3%JP¥240.00JP¥156.00JP¥170.5017
Apr ’24JP¥158.48
JP¥182.75
+15.3%
6.8%JP¥210.00JP¥156.00JP¥176.7016
Mar ’24JP¥157.04
JP¥183.62
+16.9%
6.9%JP¥210.00JP¥156.00JP¥180.7017
Feb ’24JP¥155.44
JP¥183.77
+18.2%
6.9%JP¥210.00JP¥156.00JP¥187.2019
Jan ’24JP¥150.48
JP¥183.56
+22.0%
6.8%JP¥210.00JP¥156.00JP¥172.3019
Dec ’23JP¥152.76
JP¥183.69
+20.2%
5.7%JP¥210.00JP¥168.00JP¥173.2018

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 08:47
End of Day Share Price 2024/12/19 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

Nippon Telegraph and Telephone Corporation is covered by 29 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tetsuro TsusakaBarclays
Hiroshi YamashinaBNP Paribas Securities (Asia)
Yuki KanekoBofA Global Research