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Nishimatsu Construction Co., Ltd.
(1820)
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Rating:65Neutral
Price Target:
¥5,914.00
▲(3.46% Upside)
Action:Reiterated
Date:08/17/26
The score is supported primarily by attractive valuation (low P/E and strong dividend yield) and moderately positive technical momentum. Offsetting these positives, financial performance is constrained by a sharp deterioration in cash flow with deeply negative free cash flow and still-elevated leverage, which increases sensitivity if operating cash flow does not normalize.
Positive Factors
Improving revenue and margins
Recent revenue growth and margin expansion indicate stronger project economics and execution. If sustained, improved profitability can strengthen internal funding capacity and provide a more durable earnings base across the company’s civil engineering and building activities.
Negative Factors
Severely weak cash conversion
Deeply negative free cash flow despite positive earnings signals a material gap between accounting profits and cash generation. Persistent working-capital needs or investment outflows could increase funding dependence and limit flexibility if operating cash flow does not recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving revenue and margins
Recent revenue growth and margin expansion indicate stronger project economics and execution. If sustained, improved profitability can strengthen internal funding capacity and provide a more durable earnings base across the company’s civil engineering and building activities.
Read all positive factors
Nishimatsu Construction Co., Ltd. (1820) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥220.17B
Dividend Yield4.14%
Average Volume (3M)106.88K
Price to Earnings (P/E)8.1
Beta (1Y)0.68
Revenue Growth13.72%
EPS Growth69.55%
CountryJP
Employees3,442
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)685.56
Shares Outstanding41,791,504
10 Day Avg. Volume108,890
30 Day Avg. Volume106,876
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)1.16
Price to Sales (P/S)0.57
P/FCF Ratio-11.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)527.16
Revenue Forecast (FY)¥440.88B
Nishimatsu Construction Co., Ltd. Business Overview & Revenue Model
Company Description
Nishimatsu Construction Co., Ltd., headquartered in Tokyo, Japan, is an established firm with operations extending both domestically and internationally. Founded in 1874 as Nishimatsu Gumi Co., Ltd. and adopting its current name in July 1948, the ...
How the Company Makes Money
Nishimatsu Construction primarily makes money through contract revenue earned from undertaking construction projects for public-sector and private-sector customers. Its core revenue model is project-based: it bids for or negotiates construction co...
Nishimatsu Construction Co., Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
61
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 415.75B | 396.03B | 366.81B | 401.63B | 339.76B | 323.75B |
| Gross Profit | 59.03B | 54.28B | 44.11B | 40.79B | 33.72B | 43.77B |
| EBITDA | 45.45B | 41.52B | 30.69B | 23.94B | 18.39B | 27.80B |
| Net Income | 27.07B | 24.07B | 17.54B | 12.39B | 9.65B | 15.10B |
Balance Sheet | ||||||
| Total Assets | 651.63B | 686.01B | 592.05B | 579.62B | 513.62B | 477.61B |
| Cash, Cash Equivalents and Short-Term Investments | 48.09B | 48.27B | 43.42B | 56.53B | 53.73B | 47.12B |
| Total Debt | 225.11B | 202.83B | 214.28B | 187.16B | 169.41B | 161.08B |
| Total Liabilities | 450.28B | 481.59B | 410.85B | 402.76B | 357.47B | 319.89B |
| Stockholders Equity | 192.25B | 194.90B | 172.14B | 168.82B | 148.84B | 151.33B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -20.30B | -18.17B | 17.30B | 8.70B | 11.41B |
| Operating Cash Flow | 0.00 | 3.04B | 5.89B | 32.04B | 34.75B | 41.24B |
| Investing Cash Flow | 0.00 | -7.46B | -36.21B | -41.82B | -27.40B | -17.73B |
| Financing Cash Flow | 0.00 | 7.98B | 16.09B | 11.08B | -2.42B | -20.87B |
Nishimatsu Construction Co., Ltd. Technical Analysis
Positive
5716.00
Price Trends
5374.12
Positive
5476.54
Positive
5633.24
Negative
Market Momentum
54.56
Negative
60.36
Neutral
82.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1820, the sentiment is Positive. The current price of 5716 is above the 20-day moving average (MA) of 5434.40, above the 50-day MA of 5374.12, and above the 200-day MA of 5633.24, indicating a neutral trend. The MACD of 54.56 indicates Negative momentum. The RSI at 60.36 is Neutral, neither overbought nor oversold. The STOCH value of 82.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:1820.
Nishimatsu Construction Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥348.28B | 9.78 | 15.87% | 4.26% | 3.73% | 12.75% | |
71 Outperform | ¥459.12B | 10.05 | ― | 2.73% | 10.48% | 81.54% | |
67 Neutral | ¥225.51B | 10.99 | 10.92% | 3.44% | -3.78% | 95.71% | |
65 Neutral | ¥220.17B | 8.11 | ― | 3.82% | 13.72% | 69.55% | |
64 Neutral | ¥2.09T | 12.36 | 19.37% | 2.27% | 1.52% | 43.29% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | ¥412.93B | 11.44 | 18.79% | 3.03% | 7.37% | 152.37% |
* Industrials Sector Average
JP:1820
Nishimatsu Construction Co., Ltd.
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.