Noevir Holdings Co., Ltd.

4928.T · Consumer Defensive · Household & Personal Products · Valued as of 2026-11-03 · Statements 2025-09-30

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

1.11B USD

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

Profit

687.79M USD

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

FCFF

1.03B USD

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

Average Intrinsic Value

941.60M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

968.06M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.97×

the ratio the screener ranks by

Margin of Safety

-2.8%

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: 1.11B 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)968.09M USD
+②Net Cash Today142.31M USD
+③Growth Value0 USD
=Value1.11B USD

EPV of the Operations (NOPAT over WACC)

968.09M USD

Net cash today

+142.31M USD

Growth Value

0 USD

Value

1.11B USD

①EPV (earnings power value)

968.09M USD

②Net Cash Today

142.31M USD

③Growth Value

0 USD

Market value

Market Cap968.06M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+12.8%

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): 687.79M 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 FCFE457.50M USD
+②Equity at Year 15, Today230.29M USD
=Value687.79M 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 rising 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

457.50M USD

②Equity at Year 15, Today

230.29M USD

Market value

Market Cap968.06M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-40.7%

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): 1.03B 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).
①Present Value of the 15 Years of FCFF586.87M USD
+②Invested Capital at Year 15, Today297.42M USD
+③Net Cash Today142.31M USD
=Value1.03B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

586.87M USD

②Invested Capital at Year 15, Today

297.42M USD

③Net Cash Today

142.31M USD

Market value

Market Cap968.06M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+5.7%

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: 5.38%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.15×Market Risk Premium 6.00%= 5.39%

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 24.86M USDPretax Income 80.02M USD= 31.06%

The tax the interest saves.

Interest Expense =EBIT 74.63M USD−Pretax Income 80.02M USD= —

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

No interest is read: it needs debt and an EBIT above the profit before tax, the gap between them being the interest. Without it the cost of debt takes the 4% default.

Cost of Debt 4.00% (default): with no debt or no interest read, the 4% default after tax stands for what the lenders are paid a year.

Debt Weight =Total Debt 4.38M USDMarket Cap + Total Debt 968.06M USD + 4.38M USD= 0.45%

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

WACC =Equity Weight 99.55%×Cost of Equity 5.39%+Debt Weight 0.45%×Cost of Debt 4.00%= 5.38%

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 449.24M USD − Total Liabilities 139.33M USD = Book Value Today 309.92M USD

Total Debt 4.38M USD − Cash and Short-Term Investments 146.69M USD = Net Debt Today -142.31M 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%passes34,156,207 / 34,156,353
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-0.2%at least -10.0%passes(53.41M USD − 54.09M USD) ÷ 449.24M USD
Price to bookMarket Cap ÷ Book Value Today3.12×at most 3×does not pass968.06M USD ÷ 309.92M USD
Operating marginOperating Income ÷ Revenue17.1%above 10.0%passes74.63M USD ÷ 436.01M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-2.6%above 10.0%does not pass436.01M USD / 447.44M USD
Net cash(Cash − Total Debt) ÷ Market Cap14.7%above -30%passes(146.69M USD − 4.38M USD) ÷ 968.06M USD
Operating efficiencyOperating Income ÷ Gross Profit25.6%above 25.0%passes74.63M USD ÷ 291.54M USD

Market Data

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

Share price

4444.44 JPY

Enterprise value

128.78B JPY

the provider's own figure

EV / EBITDA

11.87×

Price / book

2.97×

the provider's book

Price / earnings

18.70×

Return on equity

16.1%

the provider's figure, not this page's

Profit margin

12.6%

Revenue growth

—

Analyst target, mean

4484.48 JPY

Analysts

1

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.

USD2022202320242025
Income statement

Revenue

423.76M419.28M447.44M436.01M

Gross profit

291.73M285.30M302.55M291.54M

Operating income

70.12M73.91M80.10M74.63M

EBITDA

operating income before depreciation and amortisation

80.18M82.09M87.18M80.45M

Pretax income

77.35M75.73M81.46M80.02M

Net income

52.60M51.43M55.87M54.09M

Normalized income

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

49.01M51.20M55.74M52.68M

R&D

————
Balance sheet, year end

Total assets

532.14M517.78M536.11M515.28M

Total liabilities

169.09M161.15M158.20M150.11M

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

360.77M353.85M374.91M362.20M

Total debt

6.97M6.13M5.80M5.00M

Cash and equivalents

206.17M193.60M204.87M181.41M

Net PP&E

fixed assets after depreciation

143.41M135.35M139.56M144.14M

Working capital

current assets less current liabilities

283.57M272.60M286.21M262.97M
Cash flow

Operating cash flow

40.51M51.10M63.96M53.41M

Capital expenditure

paid out, so below zero

-4.25M-7.05M-7.08M-16.96M

Depreciation and amortisation

10.06M8.18M7.07M5.83M

Free cash flow

operating cash flow plus capital expenditure

36.26M44.05M56.88M36.44M