Obermatt

NOF

TYO:4403 · JP3753400005
ChemicalsLarge

360

96
EV / EBIT87
Price / Owner Earnings62
Owner Earnings Yield100
Dividend Yield53
Price/Sales26
EV / Gross Profit63
Price/Book25
Return on Capital80
Cash Return on Capital98
Return on Equity84
EBIT Margin85
Gross Profitability71
Cash Conversion15
Accruals23
Owner Earnings Margin98
Sales growth77
Profit Growth77
Long-Term EPS Growth63
Reinvestment94
Price momentum27
Debt load93
Refinancing33
Debt Payback100
Liquidity98
Analyst ratings88
Opinion Changes50
Price Target Upside98
Market mood74
Value Creation13/20creating some value
  • 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

NOF clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Based on 3/5 components.

Profile

CountryJapan
IndustryChemicals
SizeLarge
TypePublic Company
ExchangeTSE
Founded1949
Employees17
Websitenof.co.jp
ISINJP3753400005
Last UpdateApr 2, 2026
Index & Theme
Environment, Health and Safety (EH&S)DefenseTechChemical

Description

Analysis

Middle-of-the-road

NOF Corporation is a middle-of-the-road business: neither the economics nor the price stand out from the peer group. One caution: reported profits have recently run ahead of actual cash, which we track closely.

The price is attractive. You pay 11.7× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone. At today's price, the market is assuming roughly -1% yearly growth; analysts expect 11%. The price, in other words, assumes less than the experts do.

The trajectory is moderate and the balance sheet is sturdy. The company scores 13/20 on our value-creation score: creating some value.

What to watch: Some accounting patterns deserve a closer look. 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
96
2023202420252026

All-time high

96

Jun 2026

All-time low

76

Jan 2024

Average rank

88

across all years

Detailed & Historical Ranks

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

Current202520242023
Price/Sales
26
16
17
24
Price/Earnings
60
44
45
33
Price/Book
25
22
17
20
Dividend Yield
53
31
12
14
Value (overall)
34
21
11
17

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 →