What is Nikon Corporation (NINOY)'s fair-value range?

EvidInvest reads Nikon Corporation (NINOY)'s market price back into the assumptions behind it — the implied P/E, growth rate and cash yield — using its latest filed financials, then lets you set your own. See the full DCF, Graham number, EPV and multiple-based methods at https://evidinvest.com/valuation/NINOY.

How is Nikon Corporation (NINOY)'s fair value calculated?

Nikon Corporation (NINOY)'s fair value is computed with several independent methods — a discounted cash flow (DCF) model, the Graham number, earnings power value (EPV), and valuation multiples such as PE and EV/EBITDA — using EvidInvest's standardized annual and quarterly statements for the company. P/B is optional for non-financial companies and included in the preset range for financial sectors.

Which filing are Nikon Corporation (NINOY)'s valuation inputs based on?

Inputs come from the FY2026 20-F. Source: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=NINOY&type=10-K

Fair value · Nikon Corporation (NINOY) · updated 2026-10-28 · from 20-F FY2026

Nikon trades at $12.23. That price implies 21.4× EV/EBITDA.

Name: Nikon Corporation (NINOY) valuation inputs and fair-value methods
Creator: EvidInvest
License: https://evidinvest.com/subscription-terms

Previous close (2026-07-02)

Statements filed in JPY, converted to USD at the 2026-03-31 period-end rate (159.50 JPY per USD; ECB reference rates).

Are those assumptions reasonable? Use NINOY’s filed growth history and the AI chat to decide, then set your own inputs below — the range you build is yours.

What the price implies

EV/EBITDA: 21.4×

Prices and market caps: Cboe delayed data, at least 15 minutes delayed. Not real-time. Fundamentals from company filings. This price: Previous close (2026-07-02).

Set your own assumptions ↓See how each method got its number Check another stock

Inputs come from the FY2026 20-F; set your own on the sliders below. Research, not investment advice.

The filing behind these numbers

Nikon Corporation

Revenue: JPY 718.0B
Diluted EPS: JPY -278.02
Free cash flow: JPY -43.4B; operating cash flow − capital expenditure
Diluted shares: 329.1M; weighted average

20-F FY2026 · fiscal year ended 2026-03-31 · filed 2026-03-31

Trailing-twelve-month EPS also uses the quarterly 6-Ks through Q1 FY2027 (filed 2026-06-30).

Open the 20-F list on sec.gov

Valuation tool: build your own NINOY range

Fair Value Summary

Daily Price — NINOY

$13.64 +20.6% (1Y)

Range implied by today’s price1 of 7 methods

At least two methods need a usable value to draw a range with these inputs.

Range with preset inputs

$5.09 – $5.09

Price $12.23

Bear $5.09Base $5.09Bull $5.09

Every method that could be solved backwards opens on the assumption today’s price makes, so the top range sits on the price — that is arithmetic, not a view. Change any input and it becomes yours.

We don’t tell you what NINOY is worth. Every tab OPENS on what today’s price implies for that method’s key assumption; you decide whether that assumption is reasonable — the growth matrix has NINOY’s filed history and the AI chat will reason it through with you — and the range you build is yours. Our presets are filed history and reference settings, never a recommendation.

Discounted cash flow

N/A

Starting free cash flow is not positive; the model has nothing to grow.

Preset inputs — revenue-driven DCF from the latest filing

• Starting free cash flow is not positive; the model has nothing to grow.

Implied by today’s price

Starting free cash flow is not positive; the model has nothing to grow, so no growth rate reaches the price.

Not solvable from the price — Starting free cash flow is not positive; the model has nothing to grow, so no growth rate reaches the price. Showing preset inputs.

This method has no key input to read out of the price. The others below do, and you set them yourself: the growth matrix shows what NINOY has actually filed, and the AI chat will reason it through with you.

Your inputs

Free cash flow grows at your stage-1 rate, then your stage-2 rate, then a terminal rate; everything is discounted at your WACC.

Stage-1 growth5.0%

Yearly free-cash-flow growth for the first stage. Starts below zero so a shrinking-cash-flow case — and the rate today’s price implies — can be set.

-20.0%60.0%

Stage-1 years5 yrs

How long stage-1 growth lasts.

1 yrs10 yrs

Stage-2 growth2.5%

Slower growth after stage 1, before the terminal phase.

-20.0%30.0%

Stage-2 years5 yrs

0 yrs10 yrs

Terminal growth2.5%

Growth forever after the two stages. Above ~3% is rarely justified.

0.0%5.0%

Discount rate (WACC)5.06%

The return you require. Default is the WACC EvidInvest computed for this company. Higher discount rate, lower value.

3.00%15.00%

Net debt ($M)Debt minus cash, from the balance sheet. Subtracted from enterprise value.

Starting FCF ($M)Latest free cash flow from the filing (operating cash flow minus capex).

Shares (M)Diluted shares, from the filing.

Year by year (two-stage model, $M)

PV explicit $-2,618M · PV terminal $-9,599M · EV $-12,217M · equity $-12,607M

Year	Stage	FCF	Present value
1	Stage 1	$-286M	$-272M
2	Stage 1	$-300M	$-272M
3	Stage 1	$-315M	$-272M
4	Stage 1	$-331M	$-271M
5	Stage 1	$-347M	$-271M
6	Stage 2	$-356M	$-265M
7	Stage 2	$-365M	$-258M
8	Stage 2	$-374M	$-252M
9	Stage 2	$-383M	$-246M
10	Stage 2	$-393M	$-240M

Inputs from the filing

Statements filed in JPY, converted to USD at the 2026-03-31 period-end rate (159.50 JPY per USD; ECB reference rates).

Free cash flow: $-165.2M; sum of the last four quarters
EBIT: $-79.7M; latest annual
Shares: 329.4M
Total debt: $1.4B
Cash: $995.1M
Net debt: $389.9M; debt − cash

20-F FY2026 · period ended 2026-03-31 · filed 2026-03-31 · sec.gov

Prefer a blank slate with reverse DCF? Open the standalone DCF / reverse DCF for NINOY

Loading history...

Download the full NINOY valuation report (PDF) — free

DCF fair value, Graham number, EPV, key multiples and growth rates in one clean PDF.

Nikon trades at $12.23. That price implies 21.4× EV/EBITDA.

The filing behind these numbers

Valuation tool: build your own NINOY range

Daily Price — NINOY

Range implied by today’s price1 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on NINOY

Compare with peers

Explore

Valuation tool: build your own NINOY range

Daily Price — NINOY

Range implied by today’s price1 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on NINOY

Compare with peers

Explore