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Nippon Carbon

DB:NPV
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NPV
DB
¥36B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Nippon Carbon Co., Ltd. manufactures and sells carbon products in Japan. The last earnings update was 50 days ago. More info.


Add to Portfolio Compare Print
  • Nippon Carbon has significant price volatility in the past 3 months.
NPV Share Price and Events
7 Day Returns
2.3%
DB:NPV
9.2%
DE Electrical
9.9%
DE Market
1 Year Returns
-33.7%
DB:NPV
-8.2%
DE Electrical
-17.5%
DE Market
NPV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nippon Carbon (NPV) 2.3% -10.3% -21.1% -33.7% 0.6% -19%
DE Electrical 9.2% -20.6% -35.2% -8.2% -43.7% -44.1%
DE Market 9.9% -16.6% -24.8% -17.5% -24.5% -28.1%
1 Year Return vs Industry and Market
  • NPV underperformed the Electrical industry which returned -8.2% over the past year.
  • NPV underperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
NPV
Industry
5yr Volatility vs Market

Value

 Is Nippon Carbon 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 Nippon Carbon 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 Nippon Carbon.

DB:NPV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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:NPV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.118 (1 + (1- 30.86%) (33.81%))
1.255
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.255 * 6.33%)
7.55%

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

The calculations below outline how an intrinsic value for Nippon Carbon 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:NPV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.55%)
2020 7,000.00 Analyst x1 6,508.54
2021 6,900.00 Analyst x1 5,965.13
2022 8,700.00 Analyst x1 6,993.20
2023 9,983.55 Est @ 14.75% 7,461.51
2024 11,002.90 Est @ 10.21% 7,646.01
2025 11,776.44 Est @ 7.03% 7,608.98
2026 12,342.20 Est @ 4.8% 7,414.65
2027 12,742.82 Est @ 3.25% 7,117.86
2028 13,017.44 Est @ 2.16% 6,760.75
2029 13,198.59 Est @ 1.39% 6,373.57
Present value of next 10 years cash flows ¥69,850.00
DB:NPV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥13,198.59 × (1 + -0.39%) ÷ (7.55% – -0.39%)
¥165,559.63
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥165,559.63 ÷ (1 + 7.55%)10
¥79,948.30
DB:NPV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥69,850.00 + ¥79,948.30
¥149,798.30
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥149,798.30 / 11.06
¥13540.4
DB:NPV Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:NPV represents 0.00815x of TSE:5302
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00815x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 13,540.40 x 0.00815
€110.34
Value per share (EUR) From above. €110.34
Current discount Discount to share price of €26.20
= -1 x (€26.20 - €110.34) / €110.34
76.3%

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

Current Discount
Amount off the current price Nippon Carbon is available for.
Intrinsic value
>50%
Share price is €26.2 vs Future cash flow value of €110.34
Current Discount Checks
For Nippon Carbon to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Nippon Carbon's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Nippon Carbon's share price is below the future cash flow value, and 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 Nippon Carbon's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nippon Carbon's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NPV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥876.77
TSE:5302 Share Price ** TSE (2020-03-31) in JPY ¥3215
Germany Electrical Industry PE Ratio Median Figure of 6 Publicly-Listed Electrical Companies 22.57x
Germany Market PE Ratio Median Figure of 399 Publicly-Listed Companies 16.31x

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

** Primary Listing of Nippon Carbon.

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

= TSE:5302 Share Price ÷ EPS (both in JPY)

= 3215 ÷ 876.77

3.67x

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

  • Nippon Carbon is good value based on earnings compared to the DE Electrical industry average.
  • Nippon Carbon is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Nippon Carbon's expected growth come at a high price?
Raw Data
DB:NPV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-5.4%per year
Germany Electrical Industry PEG Ratio Median Figure of 5 Publicly-Listed Electrical Companies 1x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.67x ÷ -5.4%

-0.67x

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

  • Nippon Carbon 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 Nippon Carbon's assets?
Raw Data
DB:NPV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥4,080.24
TSE:5302 Share Price * TSE (2020-03-31) in JPY ¥3215
Germany Electrical Industry PB Ratio Median Figure of 14 Publicly-Listed Electrical Companies 1.69x
Germany Market PB Ratio Median Figure of 571 Publicly-Listed Companies 1.43x
DB:NPV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5302 Share Price ÷ Book Value per Share (both in JPY)

= 3215 ÷ 4,080.24

0.79x

* Primary Listing of Nippon Carbon.

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

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

Future Performance

 How is Nippon Carbon expected to perform in the next 1 to 3 years based on estimates from 3 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
-5.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nippon Carbon expected to grow at an attractive rate?
  • Nippon Carbon's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Nippon Carbon's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Nippon Carbon's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NPV Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NPV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -5.4%
DB:NPV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -1.6%
Germany Electrical Industry Earnings Growth Rate Market Cap Weighted Average 69.2%
Germany Electrical Industry Revenue Growth Rate Market Cap Weighted Average 12.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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:NPV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NPV Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 43,250 11,200 8,250 2
2021-12-31 40,233 9,400 7,167 3
2020-12-31 39,200 10,000 5,733 3
2020-03-31
DB:NPV Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 44,931 4,742 9,700
2019-09-30 48,679 11,314
2019-06-30 52,130 10,197 12,174
2019-03-31 51,631 12,340
2018-12-31 48,017 12,633 10,292
2018-09-30 41,646 8,526
2018-06-30 35,796 5,409 6,343
2018-03-31 30,726 4,291
2017-12-31 27,964 3,876 2,961
2017-09-30 25,751 -3,132
2017-06-30 23,682 3,922 -5,009
2017-03-31 23,044 -5,684

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nippon Carbon's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Nippon Carbon's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:NPV 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 3 Analyst Estimates (S&P Global) See Below

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

DB:NPV Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 745.72 813.52 677.93 2.00
2021-12-31 647.82 804.48 488.16 3.00
2020-12-31 518.26 596.58 424.88 3.00
2020-03-31
DB:NPV Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 876.77
2019-09-30 1,022.94
2019-06-30 1,101.23
2019-03-31 1,116.77
2018-12-31 931.82
2018-09-30 772.07
2018-06-30 574.34
2018-03-31 388.36
2017-12-31 267.70
2017-09-30 -282.85
2017-06-30 -451.92
2017-03-31 -512.50

*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.
  • Nippon Carbon is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Nippon Carbon'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.
Nippon Carbon 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.

Past Performance

  How has Nippon Carbon 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 Nippon Carbon's growth in the last year to its industry (Electrical).
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.
  • Nippon Carbon has delivered over 20% year on year earnings growth in the past 5 years.
  • Nippon Carbon's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Nippon Carbon's 1-year earnings growth is negative, it can't be compared to the DE Electrical industry average.
Earnings and Revenue History
Nippon Carbon'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 Nippon Carbon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NPV Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 44,931.00 9,700.00 5,401.00
2019-09-30 48,679.00 11,314.00 5,295.00 291.00
2019-06-30 52,130.00 12,174.00 5,414.00 291.00
2019-03-31 51,631.00 12,340.00 5,202.00 291.00
2018-12-31 48,017.00 10,292.00 4,978.00 291.00
2018-09-30 41,646.00 8,526.00 4,645.00 272.00
2018-06-30 35,796.00 6,343.00 4,163.00 272.00
2018-03-31 30,726.00 4,291.00 3,855.00 272.00
2017-12-31 27,964.00 2,961.00 3,610.00 272.00
2017-09-30 25,751.00 -3,132.00 3,630.00
2017-06-30 23,682.00 -5,009.00 3,590.00
2017-03-31 23,044.00 -5,684.00 3,488.00
2016-12-31 22,903.00 -5,413.00 3,435.00
2016-09-30 24,106.00 -859.00 3,600.00
2016-06-30 25,495.00 411.00 3,785.00
2016-03-31 28,038.00 1,032.00 4,009.00
2015-12-31 28,891.00 1,076.00 4,109.00
2015-09-30 29,151.00 1,172.00 4,097.00
2015-06-30 29,907.00 1,354.00 4,122.00
2015-03-31 29,481.00 1,118.00 4,119.00
2014-12-31 29,580.00 802.00 4,138.00
2014-09-30 30,299.00 553.00 4,298.00
2014-06-30 29,885.00 273.00 4,324.00
2014-03-31 30,824.00 393.00 4,509.00
2013-12-31 30,439.00 694.00 4,493.00
2013-09-30 29,435.00 617.00 4,351.00
2013-06-30 29,144.00 703.00 4,323.00

*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.
  • Nippon Carbon has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Nippon Carbon used its assets more efficiently than the DE Electrical industry average last year based on Return on Assets.
  • Nippon Carbon has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Nippon Carbon'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 Electrical 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.
Nippon Carbon has a total score of 3/6, 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.

Health

 How is Nippon Carbon'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 Nippon Carbon's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nippon Carbon is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nippon Carbon's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Nippon Carbon'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 4.2x 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 Nippon Carbon Company Filings, last reported 3 months ago.

DB:NPV Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 51,653.00 12,027.00 17,852.00
2019-09-30 48,996.00 12,595.00 17,118.00
2019-06-30 48,167.00 12,662.00 18,646.00
2019-03-31 45,472.00 13,230.00 17,198.00
2018-12-31 42,733.00 13,655.00 19,747.00
2018-09-30 39,184.00 13,882.00 15,173.00
2018-06-30 36,729.00 13,780.00 13,587.00
2018-03-31 34,191.00 14,190.00 12,434.00
2017-12-31 33,905.00 14,748.00 11,586.00
2017-09-30 31,288.00 15,184.00 11,656.00
2017-06-30 30,378.00 14,899.00 11,543.00
2017-03-31 30,116.00 14,907.00 11,060.00
2016-12-31 30,809.00 15,187.00 10,553.00
2016-09-30 34,101.00 13,868.00 9,083.00
2016-06-30 34,991.00 13,318.00 9,359.00
2016-03-31 35,526.00 12,669.00 9,342.00
2015-12-31 36,615.00 11,212.00 10,830.00
2015-09-30 36,772.00 9,811.00 7,660.00
2015-06-30 37,319.00 9,652.00 8,738.00
2015-03-31 36,832.00 9,804.00 8,151.00
2014-12-31 36,689.00 10,163.00 8,193.00
2014-09-30 35,897.00 9,891.00 7,262.00
2014-06-30 35,544.00 9,954.00 7,091.00
2014-03-31 35,155.00 10,139.00 6,437.00
2013-12-31 36,102.00 10,831.00 6,159.00
2013-09-30 35,705.00 11,008.00 5,875.00
2013-06-30 35,507.00 11,425.00 5,627.00
  • Nippon Carbon's level of debt (23.3%) 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 (27.7% vs 23.3% today).
  • Debt is well covered by operating cash flow (39.4%, greater than 20% of total debt).
  • Nippon Carbon earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Nippon Carbon'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. Nippon Carbon 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.

Dividends

 What is Nippon Carbon'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
6.22%
Current annual income from Nippon Carbon dividends. Estimated to be 6.22% next year.
If you bought €2,000 of Nippon Carbon shares you are expected to receive €124 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?
  • Nippon Carbon's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Nippon Carbon's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
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:NPV 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 3 Analyst Estimates (S&P Global) See Below
Germany Electrical Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

DB:NPV Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 200.00 2.00
2021-12-31 200.00 3.00
2020-12-31 200.00 3.00
2020-03-31
DB:NPV Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2020-02-10 200.000 5.832
2019-11-08 200.000 4.836
2019-08-09 200.000 5.229
2019-03-27 200.000 4.587
2019-02-08 200.000 3.906
2018-11-07 100.000 2.137
2018-08-10 100.000 1.452
2018-04-27 100.000 1.622
2018-03-28 100.000 2.032
2018-02-09 100.000 1.770
2017-10-30 50.000 1.040
2017-04-28 50.000 1.351
2017-03-29 50.000 1.624
2017-02-10 50.000 1.652
2016-03-29 50.000 2.363
2016-02-10 50.000 2.208
2015-03-30 50.000 1.513
2015-02-10 50.000 1.668
2014-03-28 50.000 2.576
2014-02-10 50.000 2.646
2013-05-10 50.000 2.629
2013-03-28 50.000 2.248
2013-02-12 50.000 2.506
2012-08-10 50.000 3.270
2012-05-07 50.000 2.708
2012-03-29 50.000 2.281
2012-02-10 50.000 2.217
2011-11-07 50.000 2.317
2011-08-10 50.000 2.124
2011-05-13 50.000 2.253
2011-03-30 50.000 2.612
2011-02-10 50.000 2.238
2010-03-26 50.000 1.895
2010-02-12 50.000 1.800

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.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Nippon Carbon's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.4x 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 Nippon Carbon's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Nippon Carbon afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nippon Carbon has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of Nippon Carbon'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
Takafumi Miyashita
AGE 55
TENURE AS CEO 3.2 years
CEO Bio

Mr. Takafumi Miyashita serves as the President of Nippon Carbon Co., Ltd since January 2017. Mr. Miyashita served as Senior Managing Director and General Manager of Sales and Planning Division at Nippon Carbon Co., Ltd. since December 2015. He served as Managing Director of Nippon Carbon Co., Ltd. since March 2015. Mr. Miyashita served as General Manager of Sales Division at Nippon Carbon Co., Ltd. since January 2013 and served as its Manager of 1St FC Marketing Department since January 2013. He served as Manager of 2Nd FC Marketing Department at Nippon Carbon Co. Ltd since January 2013. He served as Assistant General Manager of Sales Division at Nippon Carbon Co. Ltd. since January 2012. He served as Manager of 1st FC Sales Department at Nippon Carbon Co. Ltd. since January 2011 and Manager of 2nd FC Sales Department since November 2011. He joined Nippon Carbon Co., Ltd. in June 1992 and served as its Manager, Osaka Branch, Sales Division since April 2008. Mr. Miyashita has been a Director of Nippon Carbon Co., Ltd. since March 2012.

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

Takafumi Miyashita

TITLE
President & Representative Director
AGE
55
TENURE
3.2 yrs

Hironori Yamazaki

TITLE
MD & Manager of Toyama Plant
AGE
59
TENURE
5.2 yrs
Board of Directors Tenure

Average tenure and age of the Nippon Carbon board of directors in years:

8
Average Tenure
65
Average Age
  • The tenure for the Nippon Carbon board of directors is about average.
Board of Directors

Yoshiji Motohashi

TITLE
Chairman of the Board
AGE
71

Takafumi Miyashita

TITLE
President & Representative Director
AGE
55
TENURE
8 yrs

Keiichi Miura

TITLE
Director
AGE
65
TENURE
10 yrs

Akito Takahashi

TITLE
External Director
AGE
44
TENURE
5 yrs

Tadashi Tomikawa

TITLE
Independent External Director
AGE
81
TENURE
4.3 yrs

Jun Miyazaki

TITLE
Audit & Supervisory Board Member
AGE
60

Kazuyuki Tachi

TITLE
Standing Corporate Auditor
AGE
68
TENURE
10 yrs

Shigeru Araki

TITLE
Independent External Standing Corporate Auditor
AGE
63
TENURE
8 yrs

Mitsuo Sasaki

TITLE
Independent External Auditor
AGE
70
TENURE
5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Nippon Carbon'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. Nippon Carbon 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.

News

Simply Wall St News

Company Info

Description

Nippon Carbon Co., Ltd. manufactures and sells carbon products in Japan. It offers carbon fiber products, including molded heat insulating materials for high temperature furnaces; CARBORON, a soft felt used in a range of heat insulators for high temperature furnaces; C/C Composite, a lightweight carbon material used in heat resistant composite structural members, high temperature furnace materials, trays, jigs, etc.; and CARBEST, a carbon fiber packing material. The company also provides specialty carbon products, such as isotropic graphite, a graphite material; high purity treatment graphite used for manufacturing device components for silicon semiconductors, compound semiconductors, and optical fibers; carbon products for mechanical components that are used in various fields of science, including electronics, machinery, and the metallurgy industry; VESCOAT, a silicon carbide coated product used for silicon semiconductor, LED, and manufacturing device components for optical fibers; and SC CARBON sliding composites. In addition, it offers artificial graphite electrodes for use in high-power electric arc furnaces; silicon carbide continuous fibers, such as Nicalon, Hi-Nicalon, and Hi-Nicalon TypeS for use as reinforcement fibers in ceramic composite materials, plastic composite materials, and others; and lithium ion secondary batteries used for cellular phones, smart phones, NBPC, tablet terminals, power tools, hybrid automobiles, and electric automobiles. Further, the company provides impervious graphite RESBON, a corrosion-resistant material; NICABEADS, which are surface-coated micro bead-shape materials; and NICAFILM, a flexible graphite sheet made from natural graphite. Nippon Carbon Co., Ltd. was founded in 1915 and is headquartered in Tokyo, Japan.

Details
Name: Nippon Carbon Co., Ltd.
NPV
Exchange: DB
Founded: 1915
¥300,799,790
11,063,066
Website: http://www.carbon.co.jp
Address: Nippon Carbon Co., Ltd.
10-7, Hatchobori,
1-Chome,
Tokyo,
104-0032,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5302 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK NCRB.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB NPV Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
679
Nippon Carbon employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 22:21
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/18
Last earnings filing: 2020/02/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.