Nippon Kayaku Co., Ltd. (NPKYF)
POSITIVEFondamental
67
Prix
$2068.00
Capitalisation boursière
$304.16B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Nippon Kayaku was founded in 1916 as Japan's first industrial explosives maker and has since turned its chemistry expertise into three unrelated businesses: specialty chemicals such as epoxy resins and dyes, pharmaceuticals including anti-cancer and cardiovascular drugs, and automotive safety components — airbag inflators and micro gas generators sold to seatbelt and airbag makers worldwide. It no longer sells explosives as a core line; that heritage lives on mainly in its name.
Comment l'entreprise gagne de l'argent
Each business earns money in a different way. Fine chemicals sell to electronics, textile and agrochemical manufacturers as industrial inputs priced on volume and specification. Life sciences revenue comes from drug sales, largely covered by national health insurance systems, with pricing set through negotiation and regulatory approval cycles rather than open competition. Mobility and imaging revenue comes from supplying safety components under long-term contracts with automakers and their tier-one suppliers.
Chiffre d'affaires par segment
Airbag inflators and micro gas generators for automotive safety systems, plus imaging-related chemical products — the largest business domain.
Epoxy resins, UV-curable resins, dyes and electronic materials sold to industrial manufacturers.
Prescription pharmaceuticals, including anti-cancer, cardiovascular and anti-inflammatory drugs.
Avantage concurrentiel
Coûts de changement · ÉtroitAutomakers qualify safety components like airbag inflators through lengthy testing before they go into a vehicle program, so once Nippon Kayaku is designed into a platform it tends to stay there for the life of that model. The same is not true across its other two businesses, where chemicals and drugs face more open competition, which is why the advantage is narrow rather than covering the whole company.
Ce qui stimule la demande
Modérément cycliqueThe three businesses pull in different directions: pharmaceutical demand is largely defensive, since patients keep needing medication regardless of the economy, while fine chemicals and automotive safety components track industrial and vehicle production, which slow in downturns. The blend leaves the group somewhere between the two extremes rather than firmly cyclical or firmly defensive.
Les arguments en faveur
Buyers argue that spreading revenue across defensive pharmaceuticals, industrial chemicals and automotive safety components gives Nippon Kayaku more balance than a single-industry supplier, and that its long history as a qualified airbag-inflator supplier makes that business hard for a new entrant to displace.
Les arguments contre
Sellers fear that running three unrelated businesses under one roof dilutes management focus and makes it harder for investors to value the company against single-industry peers, and that two of the three segments remain exposed to the same automotive and industrial production cycle at the same time.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Bilan & Liquidités
Chiffre d'affaires
$238.95B
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Résultat net
$23.81B
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Flux de trésorerie libre
-
Capitaux propres totaux
$282.64B
Passif total
$68.18B
Ratio de liquidité général
2.71
Couverture des intérêts
-
Dette/EBITDA
1.66
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$3515.35
Prix actuel
$2068.00
Marge de sécurité
+41.2%
Fourchette de juste valeur
$2284.97 - $4745.72
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
12.77
ROE
8.7%
Ratio P/B
1.10
P/FCF
-
Marge brute
30.1%
ROIC
5.7%
Radar de rentabilité
Value Creation (Economic Moat)
ROIC
5.7%
WACC
7.5%
ROIC − WACC
-1.8 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Critères d'analyse fondamentale
Réussi (14)
- ROIC 5.7%
- Gross Margin 30.1%
- P/B Ratio 1.10
- Debt/Equity ratio
- Operating Margin 9.0%
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- ROE 9.1%
- Revenue Growth 5Y 6.9%
- Analyst Consensus 80% Buy
- Earnings Surprise avg 37.3%
- PEG Ratio 0.74
- Net Margin Trend 17.0% vs 5.1%
Échoué (3)
- Price CAGR 3.41%
- DCF valuation (Unknown)
- Piotroski F-Score 0/9
Indisponible (10)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Score F de Piotroski
Préoccupations financières sérieuses
Qualité des bénéfices
Qualité faible : examiner la comptabilité
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Tsutomu Kawamura | General Manager of Finance & Accounting Division | - |
| Yasuhito Kato | MD of Technology & Director | 60 |
| Ichio Kohinata | General Manager of Legal Affairs Division | - |
| Shinji Inoue | Senior Executive Officer of planning, Corp. Communication & Accounting and Director | 59 |
| Makoto Takeda | MD of Human Resource & Director | 61 |
| Hiroshi Shimada | Senior MD, Head of Pharmaceuticals Group & Director | 60 |
| Hideyuki Yuya | MD & Head of Polatechno Group | - |
| Shigehide Kagaya | Head of Catalysts Group, Fine Chemicals Business Unit | - |
| Yoshiki Akatani | Managing Director of Fine Chemicals Business Area | - |
| Akihiko Miura | General Manager of Responsible Care & Technology Division | - |
Risque d'audit
1
Risque du conseil
9
Risque de rémunération
1
Risque droits des actionnaires
1
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Latest News
Recent headlines for NPKYF, sourced from Markets Gazette.