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Financial statements

NIPPON TELEGRAPH & TELEPHONE CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NIPPON TELEGRAPH & TELEPHONE CORP files with the SEC in its annual reports.

In JPY millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2009FY2009FY2009FY2011FY2011FY2012FY2014FY2015FY2016FY2017
Revenue10,680,89110,416,30510,181,37610,305,00310,507,36210,700,74010,925,17411,095,31711,540,99711,391,016
Cost of revenue1,262,789936,142798,895760,832787,681864,251885,288948,903970,478879,725
Gross profit9,418,1029,480,1639,382,4819,544,1719,719,6819,836,48910,039,88610,146,41410,570,51910,511,291
Research and development268,197278,144268,221267,853269,192249,295233,752213,435211,616
Selling, general and administrative3,047,2362,993,1643,000,3702,989,8142,981,7342,992,5882,929,1112,856,4582,767,7612,786,820
Operating income1,304,6091,109,7521,117,6931,214,9091,222,9661,201,9681,213,6531,084,5661,348,1491,539,789
Interest income24,49526,62924,00421,60019,29817,63817,63218,39817,70817,753
Other non-operating income17,682-4,5892,378-39,11216,364-4,32180,542-17,937-18,890-12,020
Pre-tax income1,322,2911,105,1631,120,0711,175,7971,239,3301,197,6471,294,1951,066,6291,329,2591,527,769
Income tax520,777370,083447,001475,592583,227473,954486,546397,349354,825468,370
Net income to minority interests197,384194,485189,598192,246180,850185,668171,384157,103242,468259,249
Net income635,156538,679492,266509,629467,701521,932585,473518,066737,738800,129
EBITDA3,466,4873,248,9273,129,7573,177,4433,133,6643,101,2133,093,9462,912,5643,114,4743,002,024
EPS, basic183.34215.34254.61236.85350.34390.94
EPS, diluted183.34215.34254.61236.85350.34390.94
Shares, basic (weighted)1,3232,5512,4242,3002,1872,1062,047
Shares, diluted (weighted)1,3232,5512,4242,3002,1872,1062,047
Dividend per share90.00110.00120.00120.0070.0080.0085.0090.00110.00120.00

Balance sheet

FY2009FY2009FY2009FY2011FY2011FY2012FY2014FY2015FY2016FY2017
Cash and equivalents1,169,5661,052,777911,0621,435,1581,020,143961,433984,463849,1741,088,275925,213
Short-term investments20,264382,227167,175306,92153,75338,94936,34233,07663,844
Inventory313,494278,869314,983329,373350,721415,309390,523414,581365,379
Other current assets316,328315,566338,794394,294434,023469,529573,170
Total current assets4,068,0514,245,6994,770,2974,711,9314,669,2884,861,0114,957,2285,426,9795,312,423
Property, plant and equipment10,201,51910,057,5469,900,6409,806,3569,776,6879,839,6889,801,4709,551,9219,719,021
Goodwill453,617499,830747,526771,420824,2161,086,6361,186,1611,229,2081,314,645
Intangible assets1,406,9911,453,9411,617,4851,608,3201,618,9541,711,1061,661,5081,604,4591,663,403
Other non-current assets894,828916,884885,444863,852997,9891,195,6081,448,2961,486,8401,492,076
Total assets18,796,38818,939,05519,665,59619,389,69919,549,06720,284,94920,702,42721,035,93121,250,325
Accounts payable1,302,6071,301,9441,379,2791,482,5941,436,6431,540,2491,579,5721,572,7971,612,996
Short-term debt603,041781,323698,476656,963703,304425,351370,279476,777681,904
Total current liabilities3,694,1993,588,3103,689,0723,494,2533,499,3893,676,8243,721,6883,741,1284,131,393
Long-term debt3,691,6883,376,6693,494,1983,509,8203,234,6313,483,6733,688,8253,546,2033,168,478
Other non-current liabilities577,692714,384435,496409,070396,162446,293486,536491,630497,132
Total liabilities9,650,7589,168,1769,584,6649,341,9709,027,0649,360,1439,652,6179,795,8499,742,569
Total debt4,294,7294,157,9924,192,6744,166,7833,937,9353,909,0244,059,1044,022,9803,850,382
Paid-in capital2,841,0372,838,9272,834,0292,832,1652,827,6122,827,0102,846,7232,879,5602,862,035
Retained earnings5,066,6375,406,7265,155,5964,888,7465,227,2684,808,3615,126,6575,074,2345,626,155
Treasury stock-1,205,597-1,205,844-603,133-418,431-568,459-156,933-497,702-883-375,223
Other comprehensive income-26,428-341,917-189,606-303,708-357,843-192,93294,966268,232-57,0551,562
Shareholders' equity7,298,1107,788,1538,020,7347,882,5878,231,4398,511,3548,681,8608,833,8069,052,479
Minority interests1,847,5201,982,7262,060,1982,165,1422,290,5642,413,4522,367,9502,406,2762,455,277
Total equity9,274,7599,145,6309,770,87910,080,93210,047,72910,522,00310,924,80611,049,81011,240,08211,507,756
Total liabilities and equity18,796,38818,939,05519,665,59619,389,69919,549,06720,284,94920,702,42721,035,93121,250,325

Cash flow statement

FY2009FY2009FY2009FY2011FY2011FY2012FY2014FY2015FY2016FY2017
Net income832,540733,164681,864701,875648,551707,600756,857675,169980,2061,059,378
Depreciation and amortization2,161,8782,139,1752,012,0641,962,5341,910,6981,899,2451,880,2931,827,9981,766,3251,462,235
Deferred income tax143,712-102,217-47,47126,779132,27311,9593,43332,504-102,849-4,341
Change in inventory-34,58230,33027,818-11,745-13,353-2,139-68,776-12,044-47,569-731
Change in payables-80,883-204,483-49,722-28,53323,499-81,29766,032-21,538-34,53952,872
Cash from operations3,090,7922,514,1002,817,8362,830,8722,508,2992,453,6822,727,9042,391,8122,711,8452,917,357
Capital expenditures-1,259,719-1,411,979-1,370,923-1,410,827-1,395,087-1,538,115-1,486,651-1,444,917-1,265,622-1,301,697
Acquisitions-52,436-382,780-47,632-38,490-211,195-42,217-120,596-329,005
Purchases of investments-199,780-393,454-37,220-43,017-59,400-35,309-50,517-31,097-56,641-40,344
Sales and maturities of investments124,18350,69320,61123,92114,75619,81215,44427,47857,17358,835
Cash from investing-1,990,642-2,269,658-2,308,908-2,052,212-1,971,246-1,776,253-2,106,806-1,868,579-1,759,778-2,089,311
Debt issued508,922907,601450,378801,185680,055402,271637,253615,353398,348320,464
Debt repaid-878,267-659,634-538,026-782,512-719,232-675,295-735,894-496,729-449,025-485,612
Share buybacks-173,002-136,846-20,174-30,092-2,914-15,558-5,834
Dividends paid-117,468-135,338-152,177-158,783-167,980-183,405-186,174-199,770-200,182-247,994
Cash from financing-726,384-353,339-651,297-249,578-948,058-745,181-622,440-678,008-707,575-981,511
Exchange rate effect-455-7,892654-4,986-4,0109,04224,37219,486-7,419-6,959
Net change in cash373,311-116,789-141,715524,096-415,015-58,71023,030-135,289237,073-160,424
Free cash flow1,831,0731,102,1211,446,9131,420,0451,113,212915,5671,241,253946,8951,446,2231,615,660
Interest paid66,56858,21556,32254,48358,68355,20048,83644,79541,62637,339
Income taxes paid237,311403,850511,261519,205449,405433,344462,349543,354342,431468,357

Key metrics

Worked out from the statements above. Latest values use fiscal 2017. No valuation: the share price is quoted in a different currency than the statements.

Profitability

MetricValueHow it is calculated
Gross margin92.3%Gross profit / revenue.
Operating margin13.5%Operating income / revenue.
EBITDA margin26.4%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin13.4%Pre-tax income / revenue.
Net margin7.0%Net income / revenue.
FCF margin14.2%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin25.6%Cash from operations / revenue.
Effective tax rate30.7%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)8.9%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)3.8%Net income / average total assets.
Return on invested capital (ROIC)9.0%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue1.9%Research and development expense / revenue.
SG&A / revenue24.5%Selling, general and administrative expense / revenue.
Capex / revenue11.4%Capital expenditures / revenue.
D&A / revenue12.8%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y-1.3%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y1.4%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y1.6%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y-0.6%Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y1.5%Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y1.6%Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y14.2%Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y8.3%Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y4.7%Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y-3.6%EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y-1.0%Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y-0.9%Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y8.5%Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y11.0%Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y11.3%Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y11.6%EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y15.4%Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y16.4%Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y7.6%Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y2.3%Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y3.1%Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y11.7%Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y9.2%Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y7.7%Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y9.1%Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y12.2%Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y11.4%Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y2.5%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y2.1%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y2.8%Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y1.0%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y1.6%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y1.8%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y-2.8%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y-3.8%Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y-4.3%Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio1.29xCurrent assets / current liabilities.
Quick ratio0.24x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.24x(Cash + short-term investments) / current liabilities.
Debt / equity0.43xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets18.1%Total debt / total assets.
Liabilities / assets45.8%Total liabilities / total assets.
Net debt¥2.86TTotal debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA0.95xNet debt / EBITDA (twelve months), when EBITDA is positive.
Working capital¥1.18TCurrent assets - current liabilities.
Goodwill and intangibles / assets14.0%(Goodwill + intangible assets) / total assets.
Tangible book value¥6.07TShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.54xRevenue / average total assets.
Fixed asset turnover1.18xRevenue / average property, plant and equipment.
Inventory turnover2.26xCost of revenue / average inventory.
Days inventory162 days365 x average inventory / cost of revenue.
Days payables661 days365 x average accounts payable / cost of revenue.
FCF conversion201.9%Free cash flow / net income, when net income is positive.
Capex / operating cash flow44.6%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
EPS, diluted¥390.94Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic¥390.94Net income per basic share, as reported (split-adjusted).
Revenue per share¥5,566.00Revenue / diluted weighted shares.
FCF per share¥789.41Free cash flow / diluted weighted shares.
Operating cash flow per share¥1,425.00Cash from operations / diluted weighted shares.
Book value per share¥4,423.00Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share¥2,968.00Tangible book value / shares outstanding.
Cash per share¥483.25(Cash + short-term investments) / shares outstanding.
Dividend per share¥120.00Dividend declared per common share (paid, when declared is not tagged).
Payout ratio31.0%Dividends paid / net income, when net income is positive.
Dividends / FCF15.3%Dividends paid / free cash flow, when free cash flow is positive.
What was NIPPON TELEGRAPH & TELEPHONE CORP's revenue in fiscal 2017?

NIPPON TELEGRAPH & TELEPHONE CORP reported revenue of ¥11.39T for fiscal 2017, 1.3% lower than the year before.

Was NIPPON TELEGRAPH & TELEPHONE CORP profitable in fiscal 2017?

Yes. Net income was ¥800.13B, a net margin of 7%.

How much free cash flow did NIPPON TELEGRAPH & TELEPHONE CORP generate in fiscal 2017?

Cash from operations of ¥2.92T minus capital expenditures of ¥1.3T left free cash flow of ¥1.62T.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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