Nishi-Nippon Railroad Co., Ltd.

NNR.F · Industrials · Railroads · 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

3.21B USD

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

Profit

2.74B USD

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

FCFF

1.84B USD

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

Average Intrinsic Value

2.59B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.34B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.94×

the ratio the screener ranks by

Margin of Safety

+48.4%

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: 3.21B 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)5.18B USD
−②Net Debt Today1.98B USD
+③Growth Value0 USD
=Value3.21B USD

EPV of the Operations (NOPAT over WACC)

5.18B USD

Net debt today

-1.98B USD

Growth Value

0 USD

Value

3.21B USD

①EPV (Earnings Power Value)

5.18B USD

②Net Debt Today

1.98B USD

③Growth Value

0 USD

Market value

Market Cap1.34B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+58.2%

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): 2.74B 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 FCFE1.09B USD
+②Equity at Year 15, Today1.65B USD
=Value2.74B 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

1.09B USD

②Equity at Year 15, Today

1.65B USD

Market value

Market Cap1.34B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+51.1%

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): 1.84B 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 (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 1.84B 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 Cap1.34B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+27.1%

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: 2.37%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.14×Market Risk Premium 6.00%= 5.31%

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 83.47M USDPretax Income 289.25M USD= 28.86%

The tax the interest saves.

Interest Expense =EBIT 309.60M USD−Pretax Income 289.25M USD= 20.35M USD

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

Cost of Debt =Interest Expense 20.35M USDTotal Debt 2.27B USD×(1 − Tax Rate for WACC 28.86%)= 0.64%

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

Debt Weight =Total Debt 2.27B USDMarket Cap + Total Debt 1.34B USD + 2.27B USD= 62.94%

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

WACC =Equity Weight 37.06%×Cost of Equity 5.31%+Debt Weight 62.94%×Cost of Debt 0.64%= 2.37%

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 5.14B USD − Total Liabilities 3.31B USD = Book Value Today 1.84B USD

Total Debt 2.27B USD − Cash and Short-Term Investments 293.50M USD = Net Debt Today 1.98B 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 − 1-4.0%at most 5%passes75,513,614 / 78,685,334
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets0.8%at least -10.0%passes(241.79M USD − 201.37M USD) ÷ 5.14B USD
Price to bookMarket Cap ÷ Book Value Today0.73×at most 3×passes1.34B USD ÷ 1.84B USD
Operating marginOperating Income ÷ Revenue6.4%above 10.0%does not pass189.20M USD ÷ 2.97B USD
Revenue growthRevenue ÷ Revenue a Year Before − 10.1%above 10.0%does not pass2.97B USD / 2.97B USD
Net cash(Cash − Total Debt) ÷ Market Cap-147.9%above -30%does not pass(293.50M USD − 2.27B USD) ÷ 1.34B USD
Operating efficiencyOperating Income ÷ Gross Profit48.0%above 25.0%passes189.20M USD ÷ 393.99M USD

Market Data

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

Share price

15.82 EUR

Enterprise value

314.05B EUR

the provider's own figure

EV / EBITDA

5.56×

Price / book

0.73×

the provider's book

Price / earnings

6.32×

Return on equity

12.5%

the provider's figure, not this page's

Profit margin

7.0%

Revenue growth

15.4%

Analyst target, mean

—

Analysts

—

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.

Income statement (USD)2023202420252026

Revenue

3.72B2.72B2.97B2.97B

Gross profit

422.21M370.75M388.15M393.99M

Operating income

196.53M171.05M178.34M189.20M

EBITDA

operating income before depreciation and amortisation

363.51M396.96M359.52M460.49M

Pretax income

207.76M260.61M206.65M289.25M

Net income

138.03M163.42M139.23M201.37M

Normalized income

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

139.39M99.57M129.21M161.44M

R&D

————
Balance sheet, year end (USD)2023202420252026

Total assets

5.15B4.81B5.23B5.14B

Total liabilities

3.64B3.25B3.52B3.31B

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

1.47B1.52B1.67B1.78B

Total debt

2.52B2.09B2.45B2.27B

Cash and equivalents

547.06M460.21M343.34M293.50M

Net PP&E

fixed assets after depreciation

2.80B2.75B3.06B2.93B

Working capital

current assets less current liabilities

566.00M250.81M405.29M355.21M
Cash flow (USD)2023202420252026

Operating cash flow

328.97M411.22M104.44M241.79M

Capital expenditure

paid out, so below zero

————

Depreciation and amortisation

139.24M121.25M134.97M150.88M

Free cash flow

operating cash flow plus capital expenditure

328.97M411.22M104.44M241.79M