Projected Income Statement: Nintendo Co., Ltd.

Forecast Balance Sheet: Nintendo Co., Ltd.

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -1,742,389 -1,206,506 -1,263,666 -2,252,705 -2,058,190 -1,969,716 -2,057,595 -2,300,452
Change - 30.76% -4.74% -78.27% 8.63% 4.3% -4.46% -11.8%
Announcement Date 5/6/21 5/10/22 5/9/23 5/7/24 5/8/25 - - -
1JPY in Million
Estimates

Cash Flow Forecast: Nintendo Co., Ltd.

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 17,912 16,766 22,190 16,123 19,008 22,397 25,488 25,581
Change - -6.4% 32.35% -27.34% 17.89% 17.83% 13.8% 0.36%
Free Cash Flow (FCF) 1 594,194 383,360 178,154 445,974 -6,939 456,215 384,799 517,181
Change - -35.48% -53.53% 150.33% -101.56% 6,674.65% -15.65% 34.4%
Announcement Date 5/6/21 5/10/22 5/9/23 5/7/24 5/8/25 - - -
1JPY in Million
Estimates

Forecast Financial Ratios: Nintendo Co., Ltd.

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 37.04% 35.58% 32.18% 32.71% 25.57% 16.45% 19.78% 22.82%
EBIT Margin (%) 36.42% 34.96% 31.49% 31.64% 24.26% 16.57% 19.63% 22.64%
EBT Margin (%) 38.73% 39.78% 37.51% 40.72% 31.96% 24.06% 25.01% 26.83%
Net margin (%) 27.31% 28.18% 27.02% 29.34% 23.93% 17.68% 17.98% 20.13%
FCF margin (%) 33.78% 22.61% 11.12% 26.68% -0.6% 19.56% 15.08% 18.88%
FCF / Net Income (%) 123.69% 80.25% 41.17% 90.9% -2.49% 110.62% 83.88% 93.82%

Profitability

        
ROA 31% 26.26% 21.79% 22.66% 11.37% 11.6% 12.76% 13.67%
ROE 28.1% 24.2% 20% 20.1% 10.5% 14.16% 14.01% 15.82%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 1.02% 0.99% 1.39% 0.96% 1.63% 0.96% 1% 0.93%
CAPEX / EBITDA (%) 2.75% 2.78% 4.31% 2.95% 6.38% 5.84% 5.05% 4.09%
CAPEX / FCF (%) 3.01% 4.37% 12.46% 3.62% -273.93% 4.91% 6.62% 4.95%

Items per share

        
Cash flow per share 1 412.3 413.6 380.9 436.7 252.7 374 288.3 379.4
Change - 0.31% -7.91% 14.66% -42.15% 48.03% -22.92% 31.61%
Dividend per Share 1 222 203 186 211 120 203.7 222 259.8
Change - -8.56% -8.37% 13.44% -43.13% 69.72% 8.99% 17.06%
Book Value Per Share 1 1,573 1,764 1,947 2,236 2,340 2,489 2,646 2,881
Change - 12.08% 10.38% 14.89% 4.63% 6.37% 6.29% 8.89%
EPS 1 403.3 404.7 371.4 421.4 239.5 354.2 392.5 471.5
Change - 0.35% -8.22% 13.46% -43.17% 47.91% 10.81% 20.13%
Nbr of stocks (in thousands) 1,191,232 1,173,222 1,164,229 1,164,239 1,164,248 1,152,829 1,152,829 1,152,829
Announcement Date 5/6/21 5/10/22 5/9/23 5/7/24 5/8/25 - - -
1JPY
Estimates
2026 *2027 *
P/E ratio 28.7x 25.9x
PBR 4.08x 3.84x
EV / Sales 4.17x 3.78x
Yield 2.01% 2.19%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
27
Last Close Price
10,150.00JPY
Average target price
12,402.73JPY
Spread / Average Target
+22.19%

Quarterly revenue - Rate of surprise

  1. Stock Market
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  4. Financials Nintendo Co., Ltd.
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