Nippon Express Holdings, Inc.

OTCPK:NPEHF

Japan / Industrials / Air Freight & Logistics

Overview

Dividends

10Y Historical Financials

Stock Price

17.18 USD


Key Metrics	Latest
Total Revenue	2,577.6 B
Adjusted EBITDA	228.4 B
EBITDA Margin	8.9%
Net Profit Margin	1.3%
Total Assets	2,297.1 B
Total Debt	795.9 B

10Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending										Latest
(in millions)	Mar-15	Mar-16	Mar-17	Mar-18	Mar-19	Mar-20	Mar-21	Dec-22	Dec-23	Dec-24	12 Months

Revenue	1,924,929	1,909,105	1,864,301	1,995,317	2,138,501	2,080,352	2,079,195	2,618,659	2,239,017	2,577,643	2,577,643
% Growth		-0.8%	-2.3%	7.0%	7.2%	-2.7%	-0.1%	25.9%	-14.5%	15.1%

Adjusted EBITDA	104,269	108,876	115,207	122,433	133,031	120,091	141,693	279,840	226,310	228,433	228,433
% Margin	5.4%	5.7%	6.2%	6.1%	6.2%	5.8%	6.8%	10.7%	10.1%	8.9%	8.9%

Adjusted EBIT	50,811	54,779	57,432	70,270	79,598	59,225	78,101	138,381	73,755	46,982	46,982
% Margin	2.6%	2.9%	3.1%	3.5%	3.7%	2.8%	3.8%	5.3%	3.3%	1.8%	1.8%

Adjusted Net Income	33,669	38,421	39,288	35,255	56,411	32,436	55,080	99,181	46,539	33,000	33,000
% Margin	1.7%	2.0%	2.1%	1.8%	2.6%	1.6%	2.6%	3.8%	2.1%	1.3%	1.3%

Adjusted Basic EPS	110.04	127.88	133.40	122.40	196.36	114.93	197.92	366.97	175.26	127.02	127.02

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
											Press Release
JPY	Fiscal Year Ending										Latest
(in millions)	Mar-15	Mar-16	Mar-17	Mar-18	Mar-19	Mar-20	Mar-21	Dec-22	Dec-23	Dec-24	Dec-24
	FY - 9	FY - 8	FY - 7	FY - 6	FY - 5	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM

Revenue	1,924,929	1,909,105	1,864,301	1,995,317	2,138,501	2,080,352	2,079,195	2,618,659	2,239,017	2,577,643	2,577,643
% Growth	NA	-0.8%	-2.3%	7.0%	7.2%	-2.7%	-0.1%	25.9%	-14.5%	15.1%

Cost of Revenue	(1,783,621)	(1,755,489)	(1,702,006)	(1,817,276)	(1,949,635)	(1,911,049)	(1,885,888)	(2,342,812)	(2,011,471)	(2,355,951)	(2,355,951)
Gross Profit	141,308	153,616	162,295	178,041	188,866	169,303	193,307	275,847	227,546	221,692	221,692
% Revenue	7.3%	8.0%	8.7%	8.9%	8.8%	8.1%	9.3%	10.5%	10.2%	8.6%	8.6%

Research and Development	0	0	0	0	0	0	0	0	0	0	0
Selling and Marketing	(4,110)	(3,830)	(4,204)	(3,671)	(4,093)	(4,157)	(3,389)	(4,658)	(4,787)	0	0
General and Admin	(79,793)	(87,927)	(92,641)	(96,166)	(97,103)	(97,134)	(102,507)	(109,545)	(117,350)	(158,107)	(158,107)
Other Inc / (Exp)	(8,726)	(3,617)	(4,385)	(41,766)	(10,737)	(30,980)	(3,078)	(3,389)	(46,024)	(14,507)	(14,507)
Total Operating Exp	(92,629)	(95,374)	(101,230)	(141,603)	(111,933)	(132,271)	(108,974)	(117,592)	(168,161)	(172,614)	(172,614)

Operating Income	48,679	58,242	61,065	36,438	76,933	37,032	84,333	158,255	59,385	49,078	49,078
% Revenue	2.5%	3.1%	3.3%	1.8%	3.6%	1.8%	4.1%	6.0%	2.7%	1.9%	1.9%

Interest Expense	300	952	(232)	717	916	1,360	485	1,911	1,823	2,807	2,807
Pre-tax Income	48,979	59,194	60,833	37,155	77,849	38,392	84,818	160,166	61,208	51,885	51,885
Earnings of Discontinued Ops.	0	0	0	0	0	0	0	0	0	0	0
Provision for Taxes	(22,916)	(22,910)	(23,539)	(29,292)	(27,058)	(19,874)	(27,019)	(48,594)	(26,096)	(18,885)	(18,885)
Net Income to Company	26,063	36,284	37,294	7,863	50,791	18,518	57,799	111,572	35,112	33,000	33,000
% Margin	1.4%	1.9%	2.0%	0.4%	2.4%	0.9%	2.8%	4.3%	1.6%	1.3%	1.3%

Minority Interest in Earnings	319	(625)	(840)	(1,329)	(1,461)	(1,109)	(1,697)	(3,254)	1,938	(1,267)	(1,267)
Net Income to Stockholders	26,382	35,659	36,454	6,534	49,330	17,409	56,102	108,318	37,050	31,733	31,733

Preferred Dividends	0	0	0	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	0	0	0	0	0	0	0	0

Net Income to Common	26,382	35,659	36,454	6,534	49,330	17,409	56,102	108,318	37,050	31,733	31,733
% Margin	1.4%	1.9%	2.0%	0.3%	2.3%	0.8%	2.7%	4.1%	1.7%	1.2%	1.2%

As Reported
Basic EPS (Continuing Ops)	86.22	118.69	123.77	22.68	171.71	61.68	201.60	400.78	139.53	122.14	122.14
Diluted EPS (Continuing Ops)	86.22	118.69	123.77	22.68	171.71	61.68	201.60	400.78	139.53	122.14	122.14

WA Basic Shares Out.	305.97	300.44	294.52	288.04	287.29	282.23	278.29	270.27	265.54	259.80	259.80
WA Diluted Shares Out.	305.97	300.44	294.52	288.04	287.29	282.23	278.29	270.27	265.54	259.80	259.80

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	48,979	59,194	60,833	37,155	77,849	38,392	84,818	160,166	61,208	51,885	51,885
Addback: Net Interest Expense	(300)	(952)	232	(717)	(916)	(1,360)	(485)	(1,911)	(1,823)	(2,807)	(2,807)
Addback: Other Non Operating Expenses, Total	(8,146)	(6,351)	(6,328)	(3,184)	(4,930)	3,385	(2,557)	(3,130)	(1,072)	(2,096)	(2,096)
Addback: Depreciation & Amortization	53,458	54,097	57,775	52,163	53,433	60,866	63,592	141,459	152,555	181,451	181,451
Addback: Restructuring Charges	0	0	0	0	0	0	0	0	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	(4,592)	(256)	(1,934)	(5,468)	328	(1,495)	(15,211)	0	0	0	0
Addback: Gain (Loss) On Sale Of Assets	4,505	1,304	(988)	5,111	1,231	4,710	1,489	(56,150)	7,176	0	0
Addback: Asset Writedown	5,441	342	4,175	51,711	5,245	13,928	12,835	39,406	8,266	0	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	4,924	1,498	1,442	(14,338)	791	1,665	(2,788)	0	0	0	0
Adjusted EBITDA	104,269	108,876	115,207	122,433	133,031	120,091	141,693	279,840	226,310	228,433	228,433
% Margin	5.4%	5.7%	6.2%	6.1%	6.2%	5.8%	6.8%	10.7%	10.1%	8.9%	8.9%

Adjusted EBIT	50,811	54,779	57,432	70,270	79,598	59,225	78,101	138,381	73,755	46,982	46,982
% Margin	2.6%	2.9%	3.1%	3.5%	3.7%	2.8%	3.8%	5.3%	3.3%	1.8%	1.8%

Adjusted Net Income Reconciliation
Net Income to Company	26,063	36,284	37,294	7,863	50,791	18,518	57,799	111,572	35,112	33,000	33,000
Addback: Unusual Items	10,278	2,888	2,695	37,016	7,595	18,808	(3,675)	(16,744)	15,442	0	0
Less: Tax Benefit of Unusual Items (26%)	(2,672)	(751)	(701)	(9,624)	(1,975)	(4,890)	956	4,353	(4,015)	0	0
Adjusted Net Income	33,669	38,421	39,288	35,255	56,411	32,436	55,080	99,181	46,539	33,000	33,000
% Margin	1.7%	2.0%	2.1%	1.8%	2.6%	1.6%	2.6%	3.8%	2.1%	1.3%	1.3%

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Nippon Express Holdings, Inc.

OTCPK:NPEHF

Japan / Industrials / Air Freight & Logistics

10Y Historical Financials