Declared Dividend • Jul 25
Final dividend of JP¥6.50 announced Shareholders will receive a dividend of JP¥6.50. Ex-date: 29th September 2026 Payment date: 1st December 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 2.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 86% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 23
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥23.40 (up from JP¥44.90 loss in FY 2025). Revenue: JP¥826.3b (flat on FY 2025). Net income: JP¥12.9b (up JP¥36.7b from FY 2025). Profit margin: 1.6% (up from net loss in FY 2025). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jun 17
Now 20% undervalued Over the last 90 days, the stock has risen 32% to JP¥440. The fair value is estimated to be JP¥552, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Major Estimate Revision • Jun 09
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2027 has been updated. 2027 EPS estimate increased from JP¥22.38 to JP¥25.41. Revenue forecast unchanged at JP¥840.2b. Net income forecast to grow 25% next year vs 8.5% growth forecast for Machinery industry in Japan. Consensus price target of JP¥415 unchanged from last update. Share price was steady at JP¥430 over the past week. Buy Or Sell Opportunity • Jun 01
Now 21% undervalued Over the last 90 days, the stock has risen 13% to JP¥441. The fair value is estimated to be JP¥560, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 4.6% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. Duyuru • May 30
NTN Corporation to Report Q1, 2027 Results on Aug 04, 2026 NTN Corporation announced that they will report Q1, 2027 results on Aug 04, 2026 Buy Or Sell Opportunity • May 16
Now 24% undervalued The stock has been flat over the last 90 days, currently trading at JP¥411. The fair value is estimated to be JP¥544, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 4.6% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. New Risk • May 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.4% average weekly change). Canlı Haber • May 12
NTN and NSK Combine Bearings Businesses to Counter Global Market Uncertainty NSK and NTN have agreed to combine their global bearings and precision equipment operations under a newly created joint holding company.
The integration aims to pool management resources and focus on higher value-added services across both businesses.
The move is described as a response to softer demand conditions in China and Europe, as well as uncertainty around U.S. trade policies.
The integration points to a push for scale and efficiency, with NTN looking to reinforce its competitive position by aligning closely with a key domestic peer.
Investors may want to watch for future announcements on ownership structure, cost synergies, and any one-off integration expenses that could affect reported results around the time of the combination. Duyuru • May 09
NTN Corporation to Report Fiscal Year 2026 Results on May 14, 2026 NTN Corporation announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Price Target Changed • Feb 13
Price target increased by 14% to JP¥418 Up from JP¥368, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥411. Stock is up 70% over the past year. The company is forecast to post a net loss per share of JP¥7.60 next year compared to a net loss per share of JP¥44.90 last year. Reported Earnings • Feb 04
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: JP¥1.12 (up from JP¥11.57 loss in 3Q 2025). Revenue: JP¥201.1b (flat on 3Q 2025). Net income: JP¥620.0m (up JP¥6.75b from 3Q 2025). Profit margin: 0.3% (up from net loss in 3Q 2025). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 5.6%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 04
Price target increased by 7.6% to JP¥375 Up from JP¥349, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥382. Stock is up 55% over the past year. The company is forecast to post a net loss per share of JP¥7.60 next year compared to a net loss per share of JP¥44.90 last year. Price Target Changed • Dec 16
Price target increased by 7.8% to JP¥368 Up from JP¥341, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥372. Stock is up 53% over the past year. The company is forecast to post a net loss per share of JP¥4.22 next year compared to a net loss per share of JP¥44.90 last year. Declared Dividend • Dec 02
First half dividend of JP¥5.50 announced Dividend of JP¥5.50 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (20% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. Duyuru • Nov 29
NTN Corporation to Report Q3, 2026 Results on Feb 03, 2026 NTN Corporation announced that they will report Q3, 2026 results on Feb 03, 2026 Buy Or Sell Opportunity • Nov 18
Now 22% undervalued Over the last 90 days, the stock has risen 11% to JP¥355. The fair value is estimated to be JP¥454, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 01
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: JP¥3.61 (up from JP¥4.33 loss in 2Q 2025). Revenue: JP¥203.2b (flat on 2Q 2025). Net income: JP¥1.91b (up JP¥4.21b from 2Q 2025). Profit margin: 0.9% (up from net loss in 2Q 2025). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥2.50 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Duyuru • Sep 01
NTN Corporation to Report Q2, 2026 Results on Oct 31, 2025 NTN Corporation announced that they will report Q2, 2026 results on Oct 31, 2025 Price Target Changed • Aug 22
Price target increased by 12% to JP¥287 Up from JP¥257, the current price target is an average from 5 analysts. New target price is 12% below last closing price of JP¥325. Stock is up 21% over the past year. The company is forecast to post a net loss per share of JP¥10.15 next year compared to a net loss per share of JP¥44.90 last year. Major Estimate Revision • Aug 17
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -JP¥8.73 to -JP¥10.08 per share. Revenue forecast unchanged at JP¥789.4b. Machinery industry in Japan expected to see average net income growth of 9.5% next year. Consensus price target up from JP¥246 to JP¥257. Share price was steady at JP¥310 over the past week. Reported Earnings • Aug 05
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: JP¥2.25 (up from JP¥0.32 in 1Q 2025). Revenue: JP¥199.0b (down 5.6% from 1Q 2025). Net income: JP¥1.19b (up JP¥1.02b from 1Q 2025). Profit margin: 0.6% (up from 0.1% in 1Q 2025). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 02
Consensus EPS estimates fall by 206% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥807.3b to JP¥797.6b. Losses expected to increase from JP¥1.96 per share to JP¥6.00. Machinery industry in Japan expected to see average net income growth of 6.4% next year. Consensus price target of JP¥241 unchanged from last update. Share price rose 5.7% to JP¥263 over the past week. Declared Dividend • Jul 21
Final dividend of JP¥2.50 announced Shareholders will receive a dividend of JP¥2.50. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (30% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. Major Estimate Revision • Jul 02
Consensus EPS estimates fall from profit to JP¥1.96 loss The consensus outlook for fiscal year 2026 has been updated. Expected to report loss instead of -JP¥1.96 instead of JP¥2.75 per share profit previously forecast. Revenue forecast unchanged at JP¥807.3b Machinery industry in Japan expected to see average net income growth of 4.2% next year. Consensus price target broadly unchanged at JP¥241. Share price rose 6.8% to JP¥234 over the past week. Duyuru • Jun 27
NTN Corporation to Report Q1, 2026 Results on Aug 04, 2025 NTN Corporation announced that they will report Q1, 2026 results on Aug 04, 2025 Duyuru • May 15
NTN Corporation, Annual General Meeting, Jun 25, 2025 NTN Corporation, Annual General Meeting, Jun 25, 2025. Reported Earnings • May 15
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: JP¥44.90 loss per share (down from JP¥19.90 profit in FY 2024). Revenue: JP¥825.6b (down 1.3% from FY 2024). Net loss: JP¥23.8b (down 325% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 82%. Revenue is forecast to stay flat during the next 2 years compared to a 4.4% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥5.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Duyuru • Mar 01
NTN Corporation to Report Fiscal Year 2025 Results on May 14, 2025 NTN Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 05
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: JP¥11.57 loss per share (down from JP¥6.70 profit in 3Q 2024). Revenue: JP¥201.6b (down 4.4% from 3Q 2024). Net loss: JP¥6.13b (down 272% from profit in 3Q 2024). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 4.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Major Estimate Revision • Jan 24
Consensus EPS estimates fall by 105% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥840.7b to JP¥830.9b. Losses expected to increase from JP¥3.44 per share to JP¥7.04. Machinery industry in Japan expected to see average net income growth of 15% next year. Consensus price target broadly unchanged at JP¥268. Share price was steady at JP¥245 over the past week. Major Estimate Revision • Dec 31
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥849.8b to JP¥840.7b. Now expected to report a loss of JP¥3.44 per share instead of JP¥2.49 per share profit previously forecast. Machinery industry in Japan expected to see average net income growth of 15% next year. Consensus price target broadly unchanged at JP¥271. Share price was steady at JP¥255 over the past week. Price Target Changed • Dec 10
Price target decreased by 7.4% to JP¥274 Down from JP¥296, the current price target is an average from 6 analysts. New target price is 12% above last closing price of JP¥245. Stock is down 6.0% over the past year. The company is forecast to post earnings per share of JP¥2.49 for next year compared to JP¥19.90 last year. Declared Dividend • Dec 03
First half dividend of JP¥5.50 announced Shareholders will receive a dividend of JP¥5.50. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 4.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (190% earnings payout ratio). However, it is well covered by cash flows (38% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 112% to bring the payout ratio under control. EPS is expected to grow by 247% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Major Estimate Revision • Nov 29
Consensus EPS estimates increase by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥13.97 to JP¥16.55. Revenue forecast unchanged at JP¥856.7b. Net income forecast to grow 136% next year vs 15% growth forecast for Machinery industry in Japan. Consensus price target of JP¥279 unchanged from last update. Share price fell 4.5% to JP¥236 over the past week. Duyuru • Nov 06
NTN Corporation to Report Q3, 2025 Results on Feb 04, 2025 NTN Corporation announced that they will report Q3, 2025 results on Feb 04, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: JP¥4.33 loss per share (vs JP¥4.68 profit in 2Q 2024) Second quarter 2025 results: JP¥4.33 loss per share (down from JP¥4.68 profit in 2Q 2024). Revenue: JP¥203.1b (down 2.7% from 2Q 2024). Net loss: JP¥2.30b (down 192% from profit in 2Q 2024). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 27
NTN Corporation to Report Q2, 2025 Results on Oct 31, 2024 NTN Corporation announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥5.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). Major Estimate Revision • Sep 10
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥27.89 to JP¥22.65 per share. Revenue forecast steady at JP¥862.1b. Net income forecast to grow 37% next year vs 11% growth forecast for Machinery industry in Japan. Consensus price target broadly unchanged at JP¥296. Share price fell 5.9% to JP¥255 over the past week. Price Target Changed • Aug 16
Price target decreased by 11% to JP¥306 Down from JP¥343, the current price target is an average from 5 analysts. New target price is 13% above last closing price of JP¥271. Stock is down 2.2% over the past year. The company is forecast to post earnings per share of JP¥28.22 for next year compared to JP¥19.90 last year. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (1.1% net profit margin). Reported Earnings • Aug 03
First quarter 2025 earnings released: EPS: JP¥0.32 (vs JP¥3.09 in 1Q 2024) First quarter 2025 results: EPS: JP¥0.32 (down from JP¥3.09 in 1Q 2024). Revenue: JP¥210.8b (up 5.0% from 1Q 2024). Net income: JP¥170.0m (down 90% from 1Q 2024). Profit margin: 0.1% (down from 0.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Jul 11
Final dividend of JP¥5.50 announced Shareholders will receive a dividend of JP¥5.50. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 92% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥19.90 (up from JP¥19.53 in FY 2023). Revenue: JP¥836.3b (up 8.1% from FY 2023). Net income: JP¥10.6b (up 1.9% from FY 2023). Profit margin: 1.3% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.2%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • May 16
NTN Corporation, Annual General Meeting, Jun 25, 2024 NTN Corporation, Annual General Meeting, Jun 25, 2024. Major Estimate Revision • May 15
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥30.91 to JP¥26.18 per share. Revenue forecast steady at JP¥855.0b. Net income forecast to shrink 26% next year vs 8.1% growth forecast for Machinery industry in Japan . Consensus price target of JP¥338 unchanged from last update. Share price was steady at JP¥311 over the past week. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Duyuru • Mar 02
NTN Corporation to Report Fiscal Year 2024 Results on May 14, 2024 NTN Corporation announced that they will report fiscal year 2024 results on May 14, 2024 Price Target Changed • Feb 28
Price target increased by 13% to JP¥325 Up from JP¥288, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of JP¥311. Stock is down 9.2% over the past year. The company is forecast to post earnings per share of JP¥18.99 for next year compared to JP¥19.53 last year. Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥6.70 (vs JP¥1.66 in 3Q 2023) Third quarter 2024 results: EPS: JP¥6.70 (up from JP¥1.66 in 3Q 2023). Revenue: JP¥210.9b (up 6.7% from 3Q 2023). Net income: JP¥3.56b (up 305% from 3Q 2023). Profit margin: 1.7% (up from 0.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Nov 27
NTN Corporation to Report Q3, 2024 Results on Feb 02, 2024 NTN Corporation announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥4.68 (vs JP¥1.61 in 2Q 2023) Second quarter 2024 results: EPS: JP¥4.68 (up from JP¥1.61 in 2Q 2023). Revenue: JP¥208.9b (up 4.9% from 2Q 2023). Net income: JP¥2.48b (up 191% from 2Q 2023). Profit margin: 1.2% (up from 0.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 134% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 01
NTN Corporation Announces Dividend for the Second Quarter and Provides Dividend Guidance for the Year End of Fiscal Year Ending March 31, 2024 NTN Corporation announced dividend for the second quarter and provided dividend guidance for the year end of fiscal year ending March 31, 2024. For the second quarter, company announced dividend of JPY 5.00 per share against JPY 2.50 per share a year ago. Payment date is December 1, 2023. For the year end. the company expects dividend of JPY 5.00 per share against JPY 2.50 per share a year ago. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥5.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Price Target Changed • Aug 31
Price target decreased by 7.0% to JP¥318 Down from JP¥342, the current price target is an average from 5 analysts. New target price is 9.7% above last closing price of JP¥290. Stock is up 11% over the past year. The company is forecast to post earnings per share of JP¥26.09 for next year compared to JP¥19.53 last year. Duyuru • Aug 27
NTN Corporation to Report Q2, 2024 Results on Oct 31, 2023 NTN Corporation announced that they will report Q2, 2024 results on Oct 31, 2023 Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: JP¥3.09 (vs JP¥4.69 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥3.09 (up from JP¥4.69 loss in 1Q 2023). Revenue: JP¥200.8b (up 16% from 1Q 2023). Net income: JP¥1.64b (up JP¥4.13b from 1Q 2023). Profit margin: 0.8% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 132% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 31
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥36.33 to JP¥31.51 per share. Revenue forecast steady at JP¥798.4b. Net income forecast to grow 76% next year vs 3.5% growth forecast for Machinery industry in Japan. Consensus price target down from JP¥435 to JP¥370. Share price fell 5.5% to JP¥277 over the past week. Duyuru • May 31
NTN Corporation to Report Q1, 2024 Results on Aug 02, 2023 NTN Corporation announced that they will report Q1, 2024 results on Aug 02, 2023 Price Target Changed • May 30
Price target decreased by 12% to JP¥370 Down from JP¥423, the current price target is an average from 7 analysts. New target price is 29% above last closing price of JP¥286. Stock is up 8.7% over the past year. The company is forecast to post earnings per share of JP¥34.34 for next year compared to JP¥19.53 last year. Reported Earnings • May 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥19.53 (up from JP¥13.83 in FY 2022). Revenue: JP¥774.0b (up 21% from FY 2022). Net income: JP¥10.4b (up 41% from FY 2022). Profit margin: 1.3% (up from 1.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10.0%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥290, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥508 per share.