Shin Nippon Biomedical Laboratories, Ltd.

2395.T · Healthcare · Diagnostics & Research · Valued as of 2026-11-03 · Statements 2026-03-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

263.01M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

332.28M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

272.35M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

289.21M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

343.62M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.84×

the ratio the screener ranks by

Margin of Safety

-18.8%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 263.01M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)405.31M USD
−②Net Debt Today142.30M USD
+③Growth Value0 USD
=Value263.01M USD

EPV of the Operations (NOPAT over WACC)

405.31M USD

Net debt today

-142.30M USD

Growth Value

0 USD

Value

263.01M USD

①EPV (earnings power value)

405.31M USD

②Net Debt Today

142.30M USD

③Growth Value

0 USD

Market value

Market Cap343.62M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-30.6%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 332.28M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE213.59M USD
+②Equity at Year 15, Today118.69M USD
=Value332.28M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

213.59M USD

②Equity at Year 15, Today

118.69M USD

Market value

Market Cap343.62M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-3.4%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 272.35M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 272.35M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap343.62M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-26.2%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 6.21%
Cost of Equity =Risk-Free Rate 4.50%+Beta (default) 1.00×Market Risk Premium 6.00%= 10.50%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 10.73M USDPretax Income 39.12M USD= 27.42%

The tax the interest saves.

Interest Expense =EBIT 40.96M USD−Pretax Income 39.12M USD= 1.84M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 1.84M USDTotal Debt 258.38M USD×(1 − Tax Rate for WACC 27.42%)= 0.52%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 258.38M USDMarket Cap + Total Debt 343.62M USD + 258.38M USD= 42.92%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 57.08%×Cost of Equity 10.50%+Debt Weight 42.92%×Cost of Debt 0.52%= 6.21%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-03-31.

Total Assets 657.91M USD − Total Liabilities 385.56M USD = Book Value Today 272.35M USD

Total Debt 258.38M USD − Cash and Short-Term Investments 116.08M USD = Net Debt Today 142.30M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-0.0%at most 5%passes41,631,814 / 41,631,931
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets3.6%at least -10.0%passes(52.15M USD − 28.60M USD) ÷ 657.91M USD
Price to bookMarket Cap ÷ Book Value Today1.26×at most 3×passes343.62M USD ÷ 272.35M USD
Operating marginOperating Income ÷ Revenue8.2%above 10.0%does not pass16.62M USD ÷ 203.69M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-6.1%above 10.0%does not pass203.69M USD / 216.86M USD
Net cash(Cash − Total Debt) ÷ Market Cap-41.4%above -30%does not pass(116.08M USD − 258.38M USD) ÷ 343.62M USD
Operating efficiencyOperating Income ÷ Gross Profit16.3%above 25.0%does not pass16.62M USD ÷ 101.69M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

1294.29 JPY

Enterprise value

77.69B JPY

the provider's own figure

EV / EBITDA

10.85×

Price / book

1.29×

the provider's book

Price / earnings

11.82×

Return on equity

13.7%

the provider's figure, not this page's

Profit margin

15.8%

Revenue growth

21.5%

Analyst target, mean

1695.19 JPY

Analysts

2

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2023202420252026
Income statement

Revenue

188.56M174.83M216.86M203.69M

Gross profit

98.05M94.41M113.48M101.69M

Operating income

39.42M27.51M19.97M16.62M

EBITDA

operating income before depreciation and amortisation

71.28M59.36M59.06M62.45M

Pretax income

58.31M46.10M40.23M39.12M

Net income

45.54M36.56M32.95M28.60M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

53.94M36.78M35.41M30.35M

R&D

5.13M11.51M14.84M15.03M
Balance sheet, year end

Total assets

430.17M504.35M618.30M657.91M

Total liabilities

232.09M278.55M350.12M385.56M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

196.98M225.49M267.77M270.04M

Total debt

140.99M173.09M230.65M258.38M

Cash and equivalents

79.16M67.91M80.50M116.08M

Net PP&E

fixed assets after depreciation

141.88M174.22M233.04M226.71M

Working capital

current assets less current liabilities

21.70M48.05M24.65M22.94M
Cash flow

Operating cash flow

30.09M13.93M47.07M52.15M

Capital expenditure

paid out, so below zero

-37.24M-56.88M-73.14M-33.42M

Depreciation and amortisation

12.03M12.35M17.47M21.49M

Free cash flow

operating cash flow plus capital expenditure

-7.15M-42.95M-26.08M18.73M