OTCPK:NINO.Y

Stock Analysis Report

Executive Summary

Nikon Corporation manufactures and sells optical instruments in Japan and internationally.

Snowflake

Fundamentals

Flawless balance sheet, good value and pays a dividend.


Similar Companies

Share Price & News

How has Nikon's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.4%

NINO.Y

2.0%

US Consumer Durables

0.07%

US Market


1 Year Return

-30.2%

NINO.Y

44.5%

US Consumer Durables

8.9%

US Market

Return vs Industry: NINO.Y underperformed the US Consumer Durables industry which returned 44.5% over the past year.

Return vs Market: NINO.Y underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

NINO.YIndustryMarket
7 Day-1.4%2.0%0.07%
30 Day-2.1%7.2%-0.3%
90 Day-10.3%15.5%-1.6%
1 Year-30.2%-30.2%46.5%44.5%11.3%8.9%
3 Year-16.9%-16.9%35.1%28.8%46.3%36.8%
5 Year-3.3%-3.3%39.2%30.2%62.1%44.3%

Price Volatility Vs. Market

How volatile is Nikon's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Nikon undervalued compared to its fair value and its price relative to the market?

31.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NINO.Y ($12.63) is trading below our estimate of fair value ($18.35)

Significantly Below Fair Value: NINO.Y is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: NINO.Y is good value based on its PE Ratio (9.2x) compared to the Consumer Durables industry average (13.3x).

PE vs Market: NINO.Y is good value based on its PE Ratio (9.2x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: NINO.Y is poor value based on its PEG Ratio (10.6x)


Price to Book Ratio

PB vs Industry: NINO.Y is good value based on its PB Ratio (0.9x) compared to the US Consumer Durables industry average (1.6x).


Next Steps

Future Growth

How is Nikon forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

0.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NINO.Y's forecast earnings growth (0.9% per year) is below the savings rate (2.7%).

Earnings vs Market: NINO.Y's earnings (0.9% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: NINO.Y's earnings are forecast to grow, but not significantly.

Revenue vs Market: NINO.Y's revenue is expected to decline over the next 3 years (-0.9% per year).

High Growth Revenue: NINO.Y's revenue is forecast to decline over the next 3 years (-0.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NINO.Y's Return on Equity is forecast to be low in 3 years time (6.6%).


Next Steps

Past Performance

How has Nikon performed over the past 5 years?

14.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NINO.Y's earnings have grown by 14.6% per year over the past 5 years.

Accelerating Growth: NINO.Y's earnings growth over the past year (38.3%) exceeds its 5-year average (14.6% per year).

Earnings vs Industry: NINO.Y earnings growth over the past year (38.3%) exceeded the Consumer Durables industry 13.5%.


Return on Equity

High ROE: NINO.Y's Return on Equity (9.8%) is considered low.


Return on Assets

ROA vs Industry: NINO.Y's Return on Assets is below or equal to the Consumer Durables industry average last year.


Return on Capital Employed

ROCE Improving: NINO.Y has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Nikon's financial position?


Financial Position Analysis

Short Term Liabilities: NINO.Y's short term assets (¥758.3B) exceeds its short term liabilities (¥367.8B)

Long Term Liabilities: NINO.Y's short term assets (758.3B) exceeds its long term liabilities (144.1B)


Debt to Equity History and Analysis

Debt Level: NINO.Y's debt to equity ratio (20.3%) is considered satisfactory

Reducing Debt: NINO.Y's debt to equity ratio has reduced from 20.9% to 20.3% over the past 5 years.

Debt Coverage: NINO.Y's debt is well covered by operating cash flow (30.5%).

Interest Coverage: NINO.Y earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: NINO.Y has a high level of physical assets or inventory.

Debt Coverage by Assets: NINO.Y's debt is covered by short term assets (assets are 6.272290x debt).


Next Steps

Dividend

What is Nikon's current dividend yield, its reliability and sustainability?

4.41%

Current Dividend Yield


Dividend Yield vs Market

company4.4%marketbottom25%1.4%markettop25%3.7%industryaverage1.9%forecastin3Years4.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: NINO.Y's dividend (4.41%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: NINO.Y's dividend (4.41%) is in the top 25% of dividend payers in the US market (3.68%)

Stable Dividend: NINO.Y's dividend payments have been volatile in the past 10 years.

Growing Dividend: NINO.Y's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.7%), NINO.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Nikon's salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average management tenure


CEO

Toshikazu Umatate 0

0.8yrs

Tenure

0

Mr. Toshikazu Umatate serves as President and Chief Executive Officer at Nikon Corporation since April 2019 and serves as Representative Director since 2019. He served as Senior Vice President, General Man ...


Management Age and Tenure

1.8yrs

Average Tenure

62yo

Average Age

Experienced Management: NINO.Y's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Age and Tenure

3.3yrs

Average Tenure

65.5yo

Average Age

Experienced Board: NINO.Y's board of directors are considered experienced (3.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Masashi Oka (64yo)

    Senior EVP

    • Tenure: 3.3yrs
  • Toshikazu Umatate

    President

    • Tenure: 0.8yrs
  • Nobuyoshi Gokyu

    Senior VP and Officer In Charge of Special Missions for Imaging Business Unit & Design Center

    • Tenure: 0yrs
  • Tomohide Hamada (62yo)

    Senior VP & GM of FPD Lithography Business Unit

    • Tenure: 6.3yrs
  • Kenji Yoshikawa

    Corporate VP & Deputy GM of Corporate Strategy Division

    • Tenure: 0yrs
  • Takumi Odajima (61yo)

    Senior VP

    • Tenure: 2.3yrs
  • Masato Hamatani

    Senior VP & GM of Semiconductor Lithography Business Unit

    • Tenure: 0.8yrs
  • Satoshi Hagiwara

    Senior VP

    • Tenure: 2.3yrs

Board Members

  • Kunio Ishihara (76yo)

    External Director

    • Tenure: 3.3yrs
  • Kazuo Ushida (66yo)

    Chairman & Representative Director

    • Tenure: 0yrs
    • Compensation: JP¥107.00m
  • Haruya Uehara (73yo)

    External Director

    • Tenure: 3.3yrs
  • Masashi Oka (64yo)

    Senior EVP

    • Tenure: 3.3yrs
  • Toshikazu Umatate

    President

    • Tenure: 0.8yrs
  • Takaharu Honda (65yo)

    Director

    • Tenure: 5.3yrs
  • Akio Negishi (61yo)

    External Director

    • Tenure: 3.3yrs
  • Hiroshi Hataguchi (79yo)

    External Director

    • Tenure: 3.3yrs
  • Takumi Odajima (61yo)

    Senior VP

    • Tenure: 2.3yrs
  • Satoshi Hagiwara

    Senior VP

    • Tenure: 2.3yrs

Company Information

Nikon Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Nikon Corporation
  • Ticker: NINO.Y
  • Exchange: OTCPK
  • Founded: 1917
  • Industry: Consumer Electronics
  • Sector: Consumer Durables
  • Market Cap: JP¥529.856b
  • Listing Market Cap: JP¥4.882b
  • Shares outstanding: 389.60m
  • Website: https://www.nikon.co.jp

Number of Employees


Location

  • Nikon Corporation
  • Shinagawa Intercity Tower C
  • 2-15-3, Konan
  • Tokyo
  • 108-6290
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NINO.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDJan 1975
NINO.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1975
7731TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1975
NKNDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1975
NIKON NBMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJan 1975

Biography

Nikon Corporation manufactures and sells optical instruments in Japan and internationally. It operates through three segments: Imaging Products Business, Precision Equipment Business, and Healthcare Busine ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 23:42
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.