NEC Corporation

¥4,317As of Sun 8 Nov 2026, 12:00 UTC

TSE:6701Technology

Country Japan

PE (Fwd) •••

TSR 10Y CAGR 24.52%

Div yield 0.93%

ROE 14.47%

Information Technology Services

Beta (5Y) 0.32

PE TTM 18.27

TSR TTM (22.41%)

Mkt cap ¥5.731T

ROIC 11.29%

SE Grade™

—

Value

Quality

Moat

Consensus

Reference

¥4,509

4.45%

(15.15%)

Hold 4|6|12|6|8

TTM

FYE 31 Mar JPY

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026

FY2027E

Trend

10Y

Peers

201.9

Revenue¥B

1,252

1,319

1,390

1,468

1,556

1,682

1,769

1,850

1,995

2,154

216.4

6.72%

6.41%

2.24

Revenue growth%

31.69

33.69

35.97

35.43

36.64

36.78

36.42

36.32

38.28

39.21

6.90

36.78

36.37

5.90

Gross margin%

37.94

37.59

40.10

41.62

38.84

37.59

36.00

37.76

38.49

36.95

27.15

37.59

37.85

11.20

Operating margin%

5.29

2.66

1.42

0.40

2.96

0.68

0.40

23.76

0.40

0.54

27.86

Net margin%

10.29

9.17

6.99

9.65

11.09

13.27

14.79

17.62

15.15

15.48

3.48

15.15

12.18

6.461

P/E ratio (avg)x

40.27

37.69

40.39

38.27

37.66

36.11

34.82

34.03

34.61

32.69

7.432

34.61

36.89

27.48

EV/EBITx

26.53

31.35

35.97

39.26

41.54

46.75

50.90

50.72

60.22

60.98

35.33

50.90

44.15

28.34

FCF yield (avg)%

7.36

10.27

9.36

8.15

8.79

6.76

8.88

6.25

8.44

8.71

11.91

8.44

8.58

8.00

FCF margin%

1.32

2.17

2.98

2.74

0.91

1.53

0.40

1.17

3.02

2.73

2.56

1.53

1.85

1.366

FCF / Net incomex

1.642

1.641

1.702

1.789

2.070

2.359

2.638

2.950

2.772

3.095

1.759

2.772

2.214

5.98

ROIC%

11.64

9.72

8.30

9.79

10.27

10.51

9.65

7.45

5.71

4.57

24.92

7.45

9.69

28.49

Return on equity%

0.40

1.23

0.40

2.72

5.38

3.07

4.22

3.83

22.05

3.83

1.98

13.22

Return on assets%

5.12

6.34

8.97

11.64

8.72

10.74

13.11

14.97

17.07

19.15

2.85

14.97

11.19

160.94

EPS¥

365.82

343.43

366.55

395.98

366.82

368.94

363.30

392.42

352.61

384.64

175.69

0.95%

1.63%

—

26.38

EPS growth%

4.48

7.37

7.23

8.28

11.10

11.15

10.41

10.81

12.37

10.84

10.88

10.84

10.61

300.44

Bookvalue per sh¥

463.03

414.08

426.62

451.10

404.66

439.37

464.45

399.74

409.19

382.21

276.01

(1.14%)

(3.26%)

—

390.58

FCF per share¥

1,083

1,199

1,160

1,295

1,464

1,732

1,746

1,899

1,923

2,194

628.90

8.43%

7.89%

—

244.03

Dividend per sh¥

699.57

667.26

620.28

601.34

662.46

657.34

660.02

653.61

644.85

679.50

297.83

0.51%

0.61%

—

26.59

Div yield (avg)%

29.63

28.68

28.70

28.86

25.97

25.58

23.89

21.43

19.57

20.37

5.33

21.43

25.77

26.80

Payout ratio%

15.03

13.29

10.87

9.96

12.07

9.48

11.14

13.85

11.54

8.72

6.75

11.14

11.34

1.316

Shares (diluted)B

1.923

1.864

2.111

2.272

2.369

2.219

2.067

2.136

2.076

2.180

1.348

(1.65%)

1.63%

11.17

Buyback yield%

22.25

22.91

22.70

23.79

23.07

25.28

27.40

28.97

30.31

27.43

6.29

27.43

24.53

0.707

D/E ratiox

0.238

0.223

0.215

0.248

0.231

0.258

0.262

0.247

0.280

0.325

0.766

0.262

0.247

1,452

Enterprise value¥B

1,869

1,897

2,039

1,895

1,835

1,959

1,982

2,002

2,106

2,311

1,044

4.72%

3.24%

1,389

LT debt¥B

524.5

555.1

588.0

619.7

656.1

608.1

580.1

588.8

543.2

562.7

162.1

(3.03%)

1.69%

Peers (US$36.38B)

Cap (US$)

Fujitsu Limited

35.28B

20.82x

Nomura Research…

20.46B

151.9x

Otsuka Corporation

8.629B

20.20x

HCL Technologies…

41.50B

20.86x

Capital

TTM

10Y

Leveragex

7.007

0.698

0.577

EBIT/Intx

2.763

0.157

0.170

Own earn%

354.77

6.14

(4.14)

Sh yield%

37.76

50.41

51.07

Owners

Insiders/Inst%

9.17

29.63

Short interest%

3.19

SBC / revenue%

3.79

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

0–5

$1 testx

—

Incr. ROIC%

NEC Corporation provides information technology services and social infrastructure in Japan and internationally. The company offers systems integration services, including system construction and consulting, maintenance support, and outsourcing, and cloud, system equipment, software services.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

¥2.154T

6.41%

1.00×

Cost of revenue

¥1.508T

6.41%

1.00×

Operating expenses

¥431.1B

6.38%

1.00×