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Nitto Denko

TYO:6988 · JP3684000007
ChemicalsX-Large

360

74
Medium confidence — indicative
EV / EBIT98
Price / Owner Earnings62
Owner Earnings Yield98
Dividend Yield47
Price/Sales25
EV / Gross Profit86
Price/Book21
Return on Capital77
Cash Return on Capital78
Return on Equity59
EBIT Margin75
Gross Profitability81
Cash Conversion47
Accruals20
Owner Earnings Margin76
Sales growth17
Profit Growth43
Long-Term EPS Growth31
Owner Earnings Growth68
Reinvestment74
Price momentum37
Debt load90
Refinancing23
Debt Payback100
Liquidity91
Analyst ratings34
Opinion Changes50
Price Target Upside56
Market mood100
Value Creation16/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Nitto Denko generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryJapan
IndustryChemicals
SizeX-Large
TypePublic Company
ExchangeTSE
Founded1918
Employees387
Websitenitto.com/jp/ja
ISINJP3684000007
Last UpdateApr 2, 2026
Indices
Nikkei 225 (Japan)
Themes
Packaging ServicesInjection MoldingSensorsDetectors, Sensors and MemsWearablesBiomedical EngineeringInformation TechnologyManufacturingProduct Design

Description

Nitto Denko Corporation engages in the manufacturing of industrial tapes, optronics, and life science materials. The company emphasizes innovation and sustainability across its operations, contributing to various industries, including electronics, au…

Analysis

Bargain bin

Nitto Denko Corporation is priced cheaply, and that invites the natural question of why, since the underlying business scores below average. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is fair. The owner-earnings multiple stands at 17.5×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 4% a year, against analyst forecasts of 7%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is uncertain. The company scores 16/20 on our value-creation score: strong value creator.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
53
2023202420252026

All-time high

83

Sep 2024

All-time low

25

Jun 2023

Average rank

55

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
25
16
30
34
Price/Earnings
54
32
66
43
Price/Book
21
18
39
49
Dividend Yield
47
42
43
45
Value (overall)
20
29
41
35

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →