Nippon Express Holdings, Inc.

9147.T · Industrials · Integrated Freight & Logistics · Valued as of 2026-11-03 · Statements 2024-12-31

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

3.48B USD

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

Profit

3.35B USD

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

FCFF

2.87B USD

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

Average Intrinsic Value

3.24B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

8.60B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.38×

the ratio the screener ranks by

Margin of Safety

-165.9%

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: 3.48B 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)6.80B USD
−②Net Debt Today3.31B USD
+③Growth Value0 USD
=Value3.48B USD

EPV of the Operations (NOPAT over WACC)

6.80B USD

Net debt today

-3.31B USD

Growth Value

0 USD

Value

3.48B USD

①EPV (earnings power value)

6.80B USD

②Net Debt Today

3.31B USD

③Growth Value

0 USD

Market value

Market Cap8.60B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-147.0%

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): 3.35B 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 FCFE1.59B USD
+②Equity at Year 15, Today1.77B USD
=Value3.35B 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 rising to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

1.59B USD

②Equity at Year 15, Today

1.77B USD

Market value

Market Cap8.60B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-156.5%

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): 2.87B 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 FCFF3.12B USD
+②Invested Capital at Year 15, Today3.06B USD
−③Net Debt Today3.31B USD
=Value2.87B 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 rising to its long-run rate and the ROIC on new investment rising to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

3.12B USD

②Invested Capital at Year 15, Today

3.06B USD

③Net Debt Today

3.31B USD

Market value

Market Cap8.60B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-200.0%

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: 5.30%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.61×Market Risk Premium 6.00%= 8.14%

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 120.41M USDPretax Income 330.82M USD= 36.40%

The tax the interest saves.

Interest Expense =EBIT 395.18M USD−Pretax Income 330.82M USD= 64.37M USD

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

Cost of Debt =Interest Expense 64.37M USDTotal Debt 5.38B USD×(1 − Tax Rate for WACC 36.40%)= 0.76%

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

Debt Weight =Total Debt 5.38B USDMarket Cap + Total Debt 8.60B USD + 5.38B USD= 38.47%

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

WACC =Equity Weight 61.53%×Cost of Equity 8.14%+Debt Weight 38.47%×Cost of Debt 0.76%= 5.30%

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, 2026-06-30.

Total Assets 14.57B USD − Total Liabilities 9.29B USD = Book Value Today 5.29B USD

Total Debt 5.38B USD − Cash and Short-Term Investments 2.07B USD = Net Debt Today 3.31B 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 − 1-10.5%at most 5%passes239,466,920 / 267,472,107
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets8.6%at least -10.0%passes(1.45B USD − 202.33M USD) ÷ 14.57B USD
Price to bookMarket Cap ÷ Book Value Today1.63×at most 3×passes8.60B USD ÷ 5.29B USD
Operating marginOperating Income ÷ Revenue1.8%above 10.0%does not pass299.55M USD ÷ 16.44B USD
Revenue growthRevenue ÷ Revenue a Year Before − 13.7%above 10.0%does not pass16.44B USD / 15.85B USD
Net cash(Cash − Total Debt) ÷ Market Cap-46.5%above -30%does not pass(1.38B USD − 5.38B USD) ÷ 8.60B USD
Operating efficiencyOperating Income ÷ Gross Profit21.2%above 25.0%does not pass299.55M USD ÷ 1.41B USD

Market Data

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

Share price

5677.67 JPY

Enterprise value

2.03T JPY

the provider's own figure

EV / EBITDA

7.50×

Price / book

1.63×

the provider's book

Price / earnings

72.54×

Return on equity

2.4%

the provider's figure, not this page's

Profit margin

0.7%

Revenue growth

12.4%

Analyst target, mean

5960.95 JPY

Analysts

8

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

19.72B15.85B16.44B16.48B

Gross profit

2.08B1.61B1.41B1.54B

Operating income

1.17B412.72M299.55M335.02M

EBITDA

operating income before depreciation and amortisation

2.31B1.56B1.56B372.96M

Pretax income

1.21B433.21M330.82M267.30M

Net income

815.75M262.23M202.33M17.23M

Normalized income

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

815.75M262.23M202.33M17.23M

R&D

————
Balance sheet, year end

Total assets

15.63B14.93B14.65B15.46B

Total liabilities

9.76B9.14B9.08B10.02B

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

5.70B5.66B5.44B5.31B

Total debt

4.76B5.20B5.07B5.62B

Cash and equivalents

2.08B2.23B1.60B1.81B

Net PP&E

fixed assets after depreciation

6.33B6.30B5.98B6.17B

Working capital

current assets less current liabilities

1.60B2.16B1.13B1.75B
Cash flow

Operating cash flow

2.22B1.31B1.45B—

Capital expenditure

paid out, so below zero

-446.85M-477.33M-465.42M—

Depreciation and amortisation

1.07B1.08B1.17B—

Free cash flow

operating cash flow plus capital expenditure

1.78B837.04M987.45M—