Cash flow NOF Corporation

Equities

4403

JP3753400005

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 10:30:00 18/07/2025 +04			5-day change	1st Jan Change
2,969.50 ^JPY	+0.73%		+2.82%	+34.61%

07-01	Tranche Update on NOF Corporation's Equity Buyback Plan announced on May 9, 2025.	CI
06-10	NOF Corporation repurchases 1.16 million shares

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Published financial data: NOF CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	173B	193B	218B	222B	238B
Total Revenues	173B	193B	218B	222B	238B
Cost of Goods Sold, Total	115B	124B	142B	143B	153B
Gross Profit	57.39B	68.93B	75.94B	79.49B	85.15B
Selling General & Admin Expenses, Total	25.9B	28.17B	29.62B	31.02B	32.81B
Provision for Bad Debts	13M	-19M	-	-10M	4M
R&D Expenses	4.87B	5.18B	5.7B	6.33B	7.03B
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses, Total	30.78B	33.33B	35.32B	37.35B	39.84B
Operating Income	26.6B	35.6B	40.62B	42.14B	45.31B
Interest Expense, Total	-61M	-60M	-80M	-129M	-137M
Interest And Investment Income	1.19B	1.13B	1.37B	1.51B	1.69B
Net Interest Expenses	1.13B	1.07B	1.29B	1.38B	1.56B
Currency Exchange Gains (Loss)	237M	681M	793M	1.53B	-319M
Other Non Operating Income (Expenses)	900M	275M	474M	524M	24M
EBT, Excl. Unusual Items	28.87B	37.62B	43.18B	45.58B	46.57B
Gain (Loss) On Sale Of Investments	5.36B	19M	4.87B	2.6B	3.65B
Gain (Loss) On Sale Of Assets	7M	1.15B	7M	1M	446M
Asset Writedown	-82M	-799M	-24M	-126M	-110M
Legal Settlements	-48M	-	-	-	-
Other Unusual Items	-2M	-20M	0	411M	221M
EBT, Incl. Unusual Items	34.11B	37.98B	48.04B	48.47B	50.78B
Income Tax Expense	10.79B	11.26B	14.02B	14.41B	14.17B
Earnings From Continuing Operations	23.32B	26.72B	34.02B	34.06B	36.6B
Net Income to Company	23.32B	26.72B	34.02B	34.06B	36.6B
Minority Interest	-13M	-31M	-42M	-70M	-107M
Net Income - (IS)	23.3B	26.69B	33.97B	33.99B	36.5B
Net Income to Common Incl Extra Items	23.3B	26.69B	33.97B	33.99B	36.5B
Net Income to Common Excl. Extra Items	23.3B	26.69B	33.97B	33.99B	36.5B
Per Share Items
Net EPS - Basic	93.5	107.92	139.01	141.17	153.88
Basic EPS - Continuing Operations	93.5	107.92	139.01	141.17	153.88
Basic Weighted Average Shares Outstanding	249M	247M	244M	241M	237M
Net EPS - Diluted	93.5	107.92	139.01	141.17	153.88
Diluted EPS - Continuing Operations	93.5	107.92	139.01	141.17	153.88
Diluted Weighted Average Shares Outstanding	249M	247M	244M	241M	237M
Normalized Basic EPS	72.35	94.95	110.26	118.02	122.27
Normalized Diluted EPS	72.35	94.95	110.26	118.02	122.27
Dividend Per Share	26.67	30	36	38	45
Payout Ratio	27.74	25.92	23.3	26.95	26.28
Supplemental Items
EBITDA	32.16B	41.5B	46.98B	49.08B	53.27B
EBITA	26.6B	35.6B	40.62B	42.14B	45.31B
EBIT	26.6B	35.6B	40.62B	42.14B	45.31B
Effective Tax Rate - (Ratio)	31.65	29.64	29.19	29.73	27.91
Normalized Net Income	18.03B	23.48B	26.95B	28.42B	29B
Non-Cash Pension Expense	233M	0	-63M	-139M	-385M
Supplemental Operating Expense Items
Selling and Marketing Expenses	5.36B	5.88B	5.94B	5.61B	6.22B
Research And Development Expense From Footnotes	5.76B	6.11B	6.57B	7.25B	7.93B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	78.67B	85.43B	92.52B	91.74B	87.06B
Total Cash And Short Term Investments	78.67B	85.43B	92.52B	91.74B	87.06B
Accounts Receivable, Total	41.76B	45.05B	48.79B	57.97B	62.59B
Total Receivables	41.76B	45.05B	48.79B	57.97B	62.59B
Inventory	32.33B	39.9B	49.74B	51.01B	57.33B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	2.42B	2.94B	2.71B	4.14B	5B
Total Current Assets	155B	173B	194B	205B	212B
Net Property Plant And Equipment	62.21B	61.94B	63.86B	74.7B	85.07B
Long-term Investments	52.24B	52.43B	49.72B	58.57B	56.98B
Goodwill	-	-	-	-	-
Other Intangibles, Total	989M	947M	1.15B	2.17B	1.95B
Loans Receivable Long-Term	5M	2M	5M	7M	8M
Deferred Tax Assets Long-Term	918M	985M	950M	1.14B	1.21B
Other Long-Term Assets, Total	1M	1M	2M	2M	1M
Total Assets	272B	290B	309B	341B	357B
Liabilities
Accounts Payable, Total	17.93B	21.85B	19.73B	23.11B	23.88B
Accrued Expenses, Total	4.88B	4.99B	5.11B	5.41B	5.82B
Short-term Borrowings	1.57B	2B	2.08B	1.61B	1.49B
Current Portion of Long-Term Debt	5B	2.8B	150M	-	816M
Current Portion of Leases	157M	130M	103M	253M	254M
Current Income Taxes Payable	6.31B	5.88B	8.63B	7.34B	7.68B
Other Current Liabilities	12.52B	12.83B	15.81B	16.41B	18.38B
Total Current Liabilities	48.36B	50.47B	51.6B	54.13B	58.32B
Long-Term Debt	3.05B	610M	2.33B	2.78B	2.01B
Long-Term Leases	164M	92M	178M	530M	473M
Pension & Other Post Retirement Benefits	5.01B	5.04B	4.9B	4.96B	4.98B
Deferred Tax Liability Non Current	10.62B	11.12B	9.82B	12.93B	11.56B
Other Non Current Liabilities	814M	599M	611M	227M	296M
Total Liabilities	68.02B	67.93B	69.44B	75.54B	77.65B
Common Stock, Total	17.74B	17.74B	17.74B	17.74B	17.74B
Additional Paid In Capital	15.12B	15.12B	15.05B	15.05B	15.06B
Retained Earnings	155B	166B	192B	206B	220B
Treasury Stock	-7.98B	-3.29B	-10.3B	-7.21B	-6.27B
Comprehensive Income and Other	23.12B	25.3B	24.59B	33.11B	31.8B
Total Common Equity	203B	221B	239B	265B	279B
Minority Interest	727M	777M	825M	904M	1.02B
Total Equity	204B	222B	240B	266B	280B
Total Liabilities And Equity	272B	290B	309B	341B	357B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	248M	245M	241M	239M	233M
ECS Total Common Shares Outstanding	248M	246M	242M	239M	234M
Book Value / Share	816.2	896.88	986.85	1.11K	1.19K
Tangible Book Value	202B	220B	238B	263B	277B
Tangible Book Value Per Share	812.22	893.04	982.11	1.1K	1.18K
Total Debt	9.94B	5.63B	4.84B	5.16B	5.04B
Net Debt	-68.72B	-79.8B	-87.68B	-86.58B	-82.02B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.07B	1.84B	1.77B	-835M	-4.58B
Minority Interest, Total (Incl. Fin. Div)	727M	777M	825M	904M	1.02B
Inventories - Raw Materials, Total	10.57B	12.55B	16.24B	18.65B	22.18B
Inventories - Work In Process, Total	2.9B	1.69B	3.41B	4.8B	6.72B
Inventories - Finished Goods, Total	18.86B	25.66B	30.08B	27.55B	28.42B
Full Time Employees	3.76K	3.79K	3.82K	3.88K	4K
Accumulated Allowance for Doubtful Accounts (Supple)	205M	185M	199M	195M	206M
Order Backlog	20.6B	16.96B	37.3B	49.44B	58.92B

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	34.11B	37.98B	48.04B	48.47B	50.78B
Depreciation & Amortization - CF	5.55B	5.91B	6.36B	6.94B	7.96B
Depreciation & Amortization, Total	5.55B	5.91B	6.36B	6.94B	7.96B
(Gain) Loss From Sale Of Asset	39M	-406M	-5M	54M	-446M
(Gain) Loss on Sale of Investments - (CF)	-5.36B	-18M	-4.84B	-2.6B	-3.67B
Other Operating Activities, Total	-8.28B	-11.59B	-11.51B	-15.72B	-14.42B
Change In Accounts Receivable	-561M	-2.49B	-2.97B	-8.41B	-4.17B
Change In Inventories	2.74B	-7.3B	-9.41B	-892M	-5.98B
Change In Accounts Payable	1.66B	3.09B	-3.13B	2.52B	-232M
Change in Other Net Operating Assets	832M	2.23B	794M	-378M	-854M
Cash from Operations	30.73B	27.39B	23.33B	29.97B	28.98B
Capital Expenditure	-5.98B	-7.42B	-6.22B	-17.75B	-16.34B
Sale of Property, Plant, and Equipment	11M	136M	22M	1M	554M
Cash Acquisitions	-	-	-	-	-3.06B
Investment in Marketable and Equity Securities, Total	8.81B	217M	4.31B	3.32B	5.2B
Net (Increase) Decrease in Loans Originated / Sold - Investing	144M	-116M	220M	-46M	162M
Other Investing Activities, Total	-1.09B	-1.58B	961M	-486M	-269M
Cash from Investing	1.89B	-8.76B	-709M	-14.96B	-13.75B
Short Term Debt Issued, Total	247M	308M	-	-	-
Long-Term Debt Issued, Total	-	329M	2.2B	431M	-
Total Debt Issued	247M	637M	2.2B	431M	-
Short Term Debt Repaid, Total	-	-	-488M	-562M	-212M
Long-Term Debt Repaid, Total	-	-5B	-2.8B	-150M	-
Total Debt Repaid	-	-5B	-3.29B	-712M	-212M
Issuance of Common Stock	-	2M	-	8M	-
Repurchase of Common Stock	-1.66B	-3.87B	-7.01B	-7.52B	-12.01B
Common & Preferred Stock Dividends Paid	-6.46B	-6.92B	-7.92B	-9.16B	-9.59B
Common & Preferred Stock Dividends Paid	-6.46B	-6.92B	-7.92B	-9.16B	-9.59B
Other Financing Activities, Total	-169M	-161M	-159M	-145M	-203M
Cash from Financing	-8.04B	-15.31B	-16.17B	-17.1B	-22.02B
Foreign Exchange Rate Adjustments	-40M	1.51B	1.14B	524M	1.99B
Miscellaneous Cash Flow Adjustments	1.37B	-1M	55M	-	-
Net Change in Cash	25.91B	4.84B	7.65B	-1.57B	-4.8B
Supplemental Items
Cash Interest Paid	61M	61M	78M	129M	137M
Cash Income Tax Paid (Refund)	8.34B	11.57B	11.51B	15.72B	14.62B
Levered Free Cash Flow	24.95B	13.23B	15.87B	6.56B	11.56B
Unlevered Free Cash Flow	24.99B	13.26B	15.92B	6.64B	11.65B
Change In Net Working Capital	-8.79B	7.48B	9.61B	8.88B	8.3B
Net Debt Issued / Repaid	247M	-4.36B	-1.09B	-281M	-212M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.56	7.93	8.48	8.09	8.11
Return on Total Capital	8.27	10.09	10.75	10.21	10.19
Return On Equity %	12.2	12.57	14.73	13.46	13.42
Return on Common Equity	12.24	12.6	14.77	13.48	13.43
Margin Analysis
Gross Profit Margin %	33.24	35.78	34.88	35.77	35.73
SG&A Margin	15	14.62	13.61	13.96	13.77
EBITDA Margin %	18.63	21.55	21.58	22.08	22.35
EBITA Margin %	15.41	18.48	18.66	18.96	19.01
EBIT Margin %	15.41	18.48	18.66	18.96	19.01
Income From Continuing Operations Margin %	13.5	13.87	15.62	15.32	15.36
Net Income Margin %	13.5	13.85	15.6	15.29	15.31
Net Avail. For Common Margin %	13.5	13.85	15.6	15.29	15.31
Normalized Net Income Margin	10.44	12.19	12.38	12.78	12.17
Levered Free Cash Flow Margin	14.45	6.87	7.29	2.95	4.85
Unlevered Free Cash Flow Margin	14.47	6.88	7.31	2.99	4.89
Asset Turnover
Asset Turnover	0.68	0.69	0.73	0.68	0.68
Fixed Assets Turnover	2.84	3.1	3.46	3.21	2.98
Receivables Turnover (Average Receivables)	4.18	4.44	4.64	4.16	3.95
Inventory Turnover (Average Inventory)	3.43	3.43	3.16	2.83	2.83
Short Term Liquidity
Current Ratio	3.21	3.43	3.75	3.78	3.63
Quick Ratio	2.49	2.59	2.74	2.77	2.57
Operating Cash Flow to Current Liabilities	0.64	0.54	0.45	0.55	0.5
Days Sales Outstanding (Average Receivables)	87.39	82.25	78.66	87.9	92.33
Days Outstanding Inventory (Average Inventory)	106.47	106.55	115.39	129.14	129.09
Average Days Payable Outstanding	54.71	55.29	50.04	54.43	53.78
Cash Conversion Cycle (Average Days)	139.14	133.51	144.01	162.61	167.63
Long Term Solvency
Total Debt/Equity	4.89	2.54	2.02	1.94	1.8
Total Debt / Total Capital	4.66	2.48	1.98	1.91	1.77
LT Debt/Equity	1.58	0.32	1.05	1.24	0.89
Long-Term Debt / Total Capital	1.51	0.31	1.03	1.22	0.87
Total Liabilities / Total Assets	25.05	23.45	22.44	22.12	21.74
EBIT / Interest Expense	436.11	593.27	507.81	326.68	330.72
EBITDA / Interest Expense	527.15	691.75	587.3	380.47	388.86
(EBITDA - Capex) / Interest Expense	429.08	568.15	509.56	242.89	269.62
Total Debt / EBITDA	0.31	0.14	0.1	0.11	0.09
Net Debt / EBITDA	-2.14	-1.92	-1.87	-1.76	-1.54
Total Debt / (EBITDA - Capex)	0.38	0.17	0.12	0.16	0.14
Net Debt / (EBITDA - Capex)	-2.63	-2.34	-2.15	-2.76	-2.22
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-4.57	11.58	13.01	2.09	7.23
Gross Profit, 1 Yr. Growth %	-2.08	20.11	10.18	4.67	7.13
EBITDA, 1 Yr. Growth %	-0.07	29.07	13.2	4.46	8.54
EBITA, 1 Yr. Growth %	-1.01	33.8	14.13	3.73	7.52
EBIT, 1 Yr. Growth %	-1.01	33.8	14.13	3.73	7.52
Earnings From Cont. Operations, 1 Yr. Growth %	10.12	14.61	27.3	0.13	7.47
Net Income, 1 Yr. Growth %	10.23	14.54	27.29	0.05	7.38
Normalized Net Income, 1 Yr. Growth %	0.25	30.24	14.75	5.45	2.06
Diluted EPS Before Extra, 1 Yr. Growth %	11.43	15.43	28.8	1.56	9
Accounts Receivable, 1 Yr. Growth %	2.1	7.87	8.29	18.82	7.98
Inventory, 1 Yr. Growth %	-7.41	23.43	24.65	2.55	12.39
Net Property, Plant and Equip., 1 Yr. Growth %	4.98	-0.43	3.1	16.96	13.89
Total Assets, 1 Yr. Growth %	15.43	6.66	6.84	10.34	4.61
Tangible Book Value, 1 Yr. Growth %	14.08	9.01	8.2	10.42	5.23
Common Equity, 1 Yr. Growth %	13.97	8.95	8.26	10.8	5.1
Cash From Operations, 1 Yr. Growth %	10.38	-10.85	-14.82	28.44	-3.32
Capital Expenditures, 1 Yr. Growth %	-22.42	23.97	-16.14	185.38	-7.96
Levered Free Cash Flow, 1 Yr. Growth %	54.06	-46.99	19.97	-58.63	76.15
Unlevered Free Cash Flow, 1 Yr. Growth %	53.89	-46.92	20	-58.25	75.3
Dividend Per Share, 1 Yr. Growth %	2.56	12.5	20	5.56	18.42
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.46	3.19	12.3	7.41	4.62
Gross Profit, 2 Yr. CAGR %	-2.92	8.45	15.04	7.39	5.89
EBITDA, 2 Yr. CAGR %	-2	13.57	20.88	8.74	6.48
EBITA, 2 Yr. CAGR %	-3.29	15.09	23.58	8.81	5.61
EBIT, 2 Yr. CAGR %	-3.29	15.09	23.58	8.81	5.61
Earnings From Cont. Operations, 2 Yr. CAGR %	2.76	12.34	20.79	12.9	3.74
Net Income, 2 Yr. CAGR %	2.84	12.36	20.75	12.85	3.65
Normalized Net Income, 2 Yr. CAGR %	-1.98	14.26	22.25	10	3.74
Diluted EPS Before Extra, 2 Yr. CAGR %	4.01	13.41	21.93	14.37	5.21
Accounts Receivable, 2 Yr. CAGR %	-6.5	4.95	8.08	13.43	13.27
Inventory, 2 Yr. CAGR %	-5.5	6.9	24.04	13.06	7.36
Net Property, Plant and Equip., 2 Yr. CAGR %	3.84	2.24	1.32	9.81	15.41
Total Assets, 2 Yr. CAGR %	5.38	10.96	6.75	8.58	7.44
Tangible Book Value, 2 Yr. CAGR %	6.98	11.52	8.61	9.31	7.79
Common Equity, 2 Yr. CAGR %	6.89	11.43	8.6	9.52	7.91
Cash From Operations, 2 Yr. CAGR %	24.37	-0.8	-12.86	4.6	11.44
Capital Expenditures, 2 Yr. CAGR %	0.27	-1.93	1.96	54.7	62.07
Levered Free Cash Flow, 2 Yr. CAGR %	45.73	-9.63	-20.26	-29.55	-14.63
Unlevered Free Cash Flow, 2 Yr. CAGR %	45.53	-9.63	-20.19	-29.22	-14.45
Dividend Per Share, 2 Yr. CAGR %	1.27	7.42	16.19	12.55	11.8
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.37	0.61	6.36	8.78	7.35
Gross Profit, 3 Yr. CAGR %	-0.14	4.22	9.02	11.47	7.3
EBITDA, 3 Yr. CAGR %	1.53	7.42	13.45	15.14	8.68
EBITA, 3 Yr. CAGR %	1	7.76	14.77	16.57	8.37
EBIT, 3 Yr. CAGR %	1	7.76	14.77	16.57	8.37
Earnings From Cont. Operations, 3 Yr. CAGR %	5.45	6.57	17.12	13.47	11.06
Net Income, 3 Yr. CAGR %	5.38	6.6	17.13	13.41	10.99
Normalized Net Income, 3 Yr. CAGR %	1.64	7.76	14.43	16.37	7.29
Diluted EPS Before Extra, 3 Yr. CAGR %	6.69	7.68	18.32	14.72	12.55
Accounts Receivable, 3 Yr. CAGR %	-0.85	-1.94	6.05	11.55	11.58
Inventory, 3 Yr. CAGR %	-0.7	3.3	12.52	16.42	12.84
Net Property, Plant and Equip., 3 Yr. CAGR %	2.6	2.4	2.53	6.29	11.15
Total Assets, 3 Yr. CAGR %	4.55	5.8	9.57	7.94	7.24
Tangible Book Value, 3 Yr. CAGR %	6.35	7.65	10.4	9.21	7.93
Common Equity, 3 Yr. CAGR %	6.31	7.57	10.36	9.33	8.03
Cash From Operations, 3 Yr. CAGR %	14.98	11.31	-5.71	-0.83	1.89
Capital Expenditures, 3 Yr. CAGR %	-1.23	7.62	-6.92	43.69	30.11
Levered Free Cash Flow, 3 Yr. CAGR %	36.69	4.03	-0.68	-35.92	-4.38
Unlevered Free Cash Flow, 3 Yr. CAGR %	36.53	3.98	-0.67	-35.7	-4.24
Dividend Per Share, 3 Yr. CAGR %	7.72	4.89	11.46	12.53	14.47
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.26	2.05	3.88	3.28	5.67
Gross Profit, 5 Yr. CAGR %	2.59	4.32	5.67	5.48	7.76
EBITDA, 5 Yr. CAGR %	5.71	7.36	8.86	7.95	10.61
EBITA, 5 Yr. CAGR %	6.56	7.9	9.49	8.18	11.01
EBIT, 5 Yr. CAGR %	6.56	7.9	9.49	8.18	11.01
Earnings From Cont. Operations, 5 Yr. CAGR %	11.37	8.71	11.33	9.06	11.57
Net Income, 5 Yr. CAGR %	11.39	8.7	11.28	9.06	11.54
Normalized Net Income, 5 Yr. CAGR %	7.47	8.51	9.43	8.65	10.02
Diluted EPS Before Extra, 5 Yr. CAGR %	12.91	9.87	12.54	10.31	12.9
Accounts Receivable, 5 Yr. CAGR %	2.45	3.29	2.63	3.94	8.88
Inventory, 5 Yr. CAGR %	-0.46	4.83	8.54	7.1	10.43
Net Property, Plant and Equip., 5 Yr. CAGR %	1.8	1.47	2.08	5.3	7.5
Total Assets, 5 Yr. CAGR %	6.7	5.93	5.42	6.9	8.71
Tangible Book Value, 5 Yr. CAGR %	8.51	7.79	7.25	8.31	9.35
Common Equity, 5 Yr. CAGR %	8.5	7.8	7.22	8.35	9.38
Cash From Operations, 5 Yr. CAGR %	12.69	2.66	2.91	8.57	0.8
Capital Expenditures, 5 Yr. CAGR %	2.36	6.89	0.03	24.43	16.2
Levered Free Cash Flow, 5 Yr. CAGR %	23.58	-4.77	10.18	-10.99	-6.52
Unlevered Free Cash Flow, 5 Yr. CAGR %	23.47	-4.76	10.14	-10.85	-6.43
Dividend Per Share, 5 Yr. CAGR %	17.32	15.39	11.03	7.89	11.6