Nitto Boseki Co (3110) AI Stock Analysis

• Market Cap: ¥226.46B
• Dividend Yield: 2.52%
• Average Volume (3M): 741.23K
• Price to Earnings (P/E): 17.6
• Beta (1Y): 1.29
• Revenue Growth: 16.92%
• EPS Growth: 75.95%
• Country: JP
• Employees: 2,690
• Sector: Basic Materials
• Sector Strength: 73
• Industry: Apparel - Manufacturers
• EPS (TTM): 93.84
• Shares Outstanding: 37,723,010
• 10 Day Avg. Volume: 820,950
• 30 Day Avg. Volume: 741,226
• PEG Ratio: -0.49
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 160.78
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥5,867.03
• Price Target Upside: -9.74% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 80 Outperform
• Price Target: ¥6,670.00 ▲(2.62%Upside)

Nitto Boseki Co's stock is rated highly due to its strong financial performance and robust technical momentum. The company exhibits solid revenue growth and profitability, with a stable balance sheet. Technical indicators reflect bullish momentum, although caution is advised due to overbought signals. Valuation metrics are reasonable, offering a balanced investment proposition.

Nitto Boseki Co Business Overview & Revenue Model

Company Description

Nitto Boseki Co., Ltd. is a Japanese company primarily engaged in the manufacturing and sale of glass fiber products and related materials. The company operates in various sectors, including textiles, chemicals, and building materials, providing a diverse range of products such as insulation materials, glass yarns, and specialty fabrics. With a commitment to innovation and quality, Nitto Boseki serves a wide array of industries, offering solutions that enhance performance and sustainability.

How the Company Makes Money

Nitto Boseki Co. makes money through the manufacturing and sale of glass fiber products, which are used in various applications such as insulation, reinforcement, and industrial materials. The company's revenue streams include direct sales to industries in the construction, automotive, and electronics sectors, as well as partnerships with other manufacturers and distributors. By leveraging its expertise in materials science and production capabilities, Nitto Boseki delivers high-performance products that meet the demands of modern industry, contributing to its financial success.

Nitto Boseki Co Financial Statement Overview

Summary

Nitto Boseki Co shows solid financial performance with strong revenue and profitability growth. The balance sheet is stable, but a high debt level needs watching. Cash flow turned positive, indicating improved cash generation, though free cash flow metrics require attention.

Income Statement

Nitto Boseki Co has demonstrated strong revenue growth with a notable increase of 16.91% from 2024 to 2025. The company maintains healthy profitability margins with a gross profit margin of 37.04% and a net profit margin of 11.78% for 2025. The EBIT and EBITDA margins have improved significantly over the years, indicating efficient operations and cost management.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.41, which is manageable for the industry. The equity ratio of 58.14% indicates strong equity financing. Return on equity has been improving, reaching 9.90% in 2025, showing effective use of shareholders' equity. However, the relatively high debt level requires monitoring.

Cash Flow

Cash flow analysis shows a significant turnaround with free cash flow moving from negative in 2024 to positive in 2025, reflecting improved cash generation. The operating cash flow to net income ratio of 1.49 indicates robust cash generation relative to net income. However, the free cash flow to net income ratio needs improvement, indicating potential reinvestment challenges.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	106.73B	109.03B	93.25B	87.53B	84.05B	78.73B
Gross Profit	37.94B	40.38B	30.61B	27.21B	28.23B	25.66B
EBITDA	23.84B	26.02B	16.66B	13.12B	15.98B	17.80B
Net Income	11.35B	12.84B	7.30B	2.77B	6.52B	8.10B
Balance Sheet
Total Assets	216.46B	223.10B	212.11B	185.59B	187.29B	184.65B
Cash, Cash Equivalents and Short-Term Investments	22.43B	28.55B	23.66B	21.59B	18.54B	30.32B
Total Debt	49.58B	52.75B	53.14B	46.06B	46.21B	44.16B
Total Liabilities	86.38B	87.27B	88.41B	76.64B	76.65B	80.26B
Stockholders Equity	124.49B	129.73B	118.19B	103.79B	105.82B	99.13B
Cash Flow
Free Cash Flow	0.00	5.98B	-1.89B	470.00M	-10.36B	-6.03B
Operating Cash Flow	0.00	19.12B	5.06B	7.64B	6.96B	7.82B
Investing Cash Flow	0.00	-11.42B	-7.90B	1.98B	-17.30B	-1.87B
Financing Cash Flow	0.00	-3.28B	4.30B	-7.25B	-1.53B	1.86B

Nitto Boseki Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6500.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3110, the sentiment is Positive. The current price of 6500 is above the 20-day moving average (MA) of 5558.25, above the 50-day MA of 4936.50, and above the 200-day MA of 5366.96, indicating a bullish trend. The MACD of 379.40 indicates Negative momentum. The RSI at 73.14 is Negative, neither overbought nor oversold. The STOCH value of 80.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3110.

Nitto Boseki Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3110	80 Outperform	¥226.46B	17.64	10.29%	2.52%	16.92%	75.95%
3569	75 Outperform	¥126.46B	9.73	10.24%	3.22%	12.50%	7.68%
3201	74 Outperform	¥94.13B	11.62		2.29%	5.77%	11.61%
3402	71 Outperform	$1.58T	20.23	4.47%	1.82%	4.00%	256.52%
Sector *	70 Outperform	¥175.24B	11.09	6.29%	3.49%	3.95%	5.88%
3002	68 Neutral	€118.14B	19.08	5.24%	2.17%	3.18%	26.10%
3591	61 Neutral	¥258.12B	38.24	3.45%	2.02%	-7.11%	―

Nitto Boseki Co Corporate Events

Nittobo Announces Increased Year-End Dividend

Nittobo has announced a significant increase in its year-end dividend to 78.50 yen per share, up from the previous year’s 32.50 yen, reflecting its strong financial performance and commitment to shareholder returns. This decision aligns with the company’s Medium-Term Management Plan, which targets a minimum dividend of 55 yen per share and a payout ratio of 30% of steady earnings, indicating a positive outlook for stakeholders.