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Nippon Sheet Glass Company
(5202)
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Rating:52Neutral
Price Target:
¥487.00
▲(0.83% Upside)
Action:Reiterated
Date:08/10/26
The score is held back primarily by constrained financial quality: very thin net margins, negative free cash flow, and high leverage despite improving revenue and a return to modest profitability. Technicals are neutral with only mild positive momentum, and valuation is a partial offset with a low P/E, though no dividend data is available.
Positive Factors
Diversified End Markets
NSG's operations span architectural glazing, automotive OEM glass and specialty technical glass. This multi-segment exposure spreads demand risk across construction, auto production and electronics, supporting revenue stability and cross-selling of higher‑value processed products.
Negative Factors
High Leverage
Debt-to-equity near 3.8x, while improved, remains elevated versus earnings power. High leverage raises interest expense sensitivity, limits capital allocation and reduces flexibility to fund capex or absorb shocks, increasing refinancing and cyclical risk for the business.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified End Markets
NSG's operations span architectural glazing, automotive OEM glass and specialty technical glass. This multi-segment exposure spreads demand risk across construction, auto production and electronics, supporting revenue stability and cross-selling of higher‑value processed products.
Read all positive factors
Nippon Sheet Glass Company (5202) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥70.13B
Dividend YieldN/A
Average Volume (3M)1.17M
Price to Earnings (P/E)9.3
Beta (1Y)1.31
Revenue Growth9.76%
EPS GrowthN/A
CountryJP
Employees24,880
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)52.84
Shares Outstanding142,573,560
10 Day Avg. Volume1,641,370
30 Day Avg. Volume1,170,496
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)0.31
Price to Sales (P/S)0.05
P/FCF Ratio-26.07
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)27.17
Revenue Forecast (FY)¥909.00B
Nippon Sheet Glass Company Business Overview & Revenue Model
Company Description
Nippon Sheet Glass Company, Ltd. (NSG) is a global producer and distributor of glass and glazing solutions, organized into Architectural, Automotive, Technical Glass, and Other business units. Under its Pilkington brand, the company provides a wid...
How the Company Makes Money
NSG makes money mainly by manufacturing and selling glass products and related processing/solutions across three principal businesses. (1) Architectural/Building Glass: Revenue is generated by selling flat glass and value-added processed glass (e....
Nippon Sheet Glass Company Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
34
Negative
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 915.60B | 879.46B | 840.40B | 832.54B | 763.52B | 600.57B |
| Gross Profit | 203.43B | 195.54B | 167.83B | 180.48B | 171.82B | 135.43B |
| EBITDA | 92.72B | 87.28B | 63.78B | 90.02B | 40.92B | 62.28B |
| Net Income | 4.76B | 4.42B | -13.83B | 10.63B | -33.76B | 4.13B |
Balance Sheet | ||||||
| Total Assets | 1.12T | 1.12T | 1.04T | 1.02T | 959.40B | 946.49B |
| Cash, Cash Equivalents and Short-Term Investments | 44.27B | 57.56B | 65.31B | 51.18B | 69.31B | 60.46B |
| Total Debt | 569.49B | 547.17B | 522.73B | 500.56B | 491.54B | 499.69B |
| Total Liabilities | 935.11B | 931.98B | 901.05B | 865.16B | 834.53B | 777.13B |
| Stockholders Equity | 150.92B | 151.22B | 108.06B | 124.28B | 97.04B | 145.29B |
Cash Flow | ||||||
| Free Cash Flow | -1.65B | -1.82B | -6.79B | 3.87B | 9.39B | 10.58B |
| Operating Cash Flow | 40.38B | 40.03B | 52.42B | 58.77B | 48.51B | 45.06B |
| Investing Cash Flow | -41.05B | -38.97B | -42.44B | -43.51B | -34.65B | -22.79B |
| Financing Cash Flow | -886.00M | -14.66B | 8.51B | -48.08B | -7.89B | -20.82B |
Nippon Sheet Glass Company Technical Analysis
Positive
483.00
Price Trends
481.48
Positive
479.93
Positive
512.45
Negative
Market Momentum
2.30
Negative
75.06
Negative
94.19
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5202, the sentiment is Positive. The current price of 483 is below the 20-day moving average (MA) of 484.10, above the 50-day MA of 481.48, and below the 200-day MA of 512.45, indicating a neutral trend. The MACD of 2.30 indicates Negative momentum. The RSI at 75.06 is Negative, neither overbought nor oversold. The STOCH value of 94.19 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5202.
Nippon Sheet Glass Company Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥621.90B | 10.02 | 10.96% | 2.75% | 12.73% | 81.53% | |
71 Outperform | ¥5.29T | 11.99 | 8.64% | 3.26% | 7.51% | 13.94% | |
71 Outperform | ¥756.85B | 33.43 | 2.64% | 2.28% | 6.85% | -54.33% | |
63 Neutral | ¥1.62T | 10.00 | 8.25% | 2.92% | 5.69% | 27.94% | |
63 Neutral | ¥6.95T | 17.21 | 14.96% | 1.56% | 12.30% | 103.31% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | ¥70.13B | 9.31 | -8.11% | ― | 9.76% | ― |
* Consumer Cyclical Sector Average
JP:5202
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Nippon Sheet Glass Company Corporate Events
NSG Group Updates Q1 FY2027/3 Results and New Strategic Initiatives
Aug 7, 2026
NSG Group has reported its results for the first quarter of the financial year ending 31 March 2027, covering the period from 1 April to 30 June 2026. Alongside the Q1 figures, the company outlined its full‑year FY2027/3 forecast and reviewe...
Nippon Sheet Glass Posts Higher Q1 Revenue but Keeps Dividend at Zero
Aug 7, 2026
Nippon Sheet Glass reported a strong revenue increase for the first quarter of FY 2027, with sales rising 17.2% year on year to ¥246.3 billion and operating profit up 28.5% to ¥8.8 billion, although profit before tax fell 31.5% and net p...
Nippon Sheet Glass Shareholders Back Capital Restructuring and Planned Delisting
Jun 26, 2026
Nippon Sheet Glass said shareholders approved all proposals at its latest general and class meetings, including amendments to increase authorized shares, a share consolidation, the abolition of the share unit system and the election of six directo...
Nippon Sheet Glass Revises FY2026 Net Trading Assets in Segment Data
Jun 25, 2026
Nippon Sheet Glass has revised its FY2026 annual consolidated financial results under IFRS, correcting the reported net trading assets in its segmental information. The updated figures show lower net trading assets across the architectural, automo...
Nippon Sheet Glass Lifts FY2026 Profit on One-Off Tax Gain Despite Weaker Operations
May 11, 2026
Nippon Sheet Glass reported that revenue for the fiscal year ending March 2026 exceeded its previous forecast, driven mainly by stronger-than-expected sales prices in its European architectural segment and North American automotive business, as we...
NSG Group Unveils FY2026 Results and Strategic Outlook
May 11, 2026
NSG Group released its annual results for the financial year ended 31 March 2026, outlining performance for the FY2026/3 period. The company also presented its forecast for the year ending March 2027, signaling management’s outlook and plann...
Nippon Sheet Glass Returns to Profit but Keeps Dividends at Zero as Outlook Softens
May 11, 2026
Nippon Sheet Glass reported FY2026 revenue of ¥879.5 billion, up 4.6%, with operating profit surging 74.7% to ¥28.8 billion and a swing to a ¥4.4 billion profit attributable to owners, reversing a loss in the prior year. The company...
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.