Nippon Carbon Co., Ltd. (NCRBF)
適正価値ファンダメンタル
68
株価
$5170.00
時価総額
$54.15B
パート1 · 企業の価値
概要
Nippon Carbon is a small Japanese manufacturer of carbon and silicon carbide materials sold to other industrial companies rather than to consumers. Its main products are artificial graphite electrodes, high-purity graphite used in making crystalline silicon, carbon fibre for aerospace and industrial use, anode material for lithium-ion batteries, and impervious graphite equipment for the chemical industry. A smaller unit leases real estate and repairs industrial machinery.
収益の仕組み
Revenue comes from selling tonnes or units of specialty carbon material to manufacturers who use it as an input — semiconductor and solar companies needing high-purity graphite, aerospace and industrial customers needing carbon fibre, battery makers needing anode material. Because the company is small relative to global carbon and graphite producers, volume with a handful of large industrial customers, more than broad market share, drives results from year to year.
セグメント別売上高
Graphite electrodes, high-purity graphite, carbon fibre and lithium-ion battery anode material — the large majority of revenue.
Silicon carbide materials and continuous fibres, used mainly in aerospace applications.
Real estate leasing and manufacture and repair of industrial machinery, unrelated to the carbon materials business.
需要を左右する要因
景気循環型Demand for high-purity graphite tracks semiconductor and solar wafer production, carbon fibre demand tracks aerospace and industrial capital spending, and both slow when those end industries cut output. As a small supplier serving a handful of large customers in cyclical industries, Nippon Carbon's own volumes can move more sharply than the broader materials market.
強気材料
Buyers argue that Nippon Carbon's specialty materials sit inside growing end markets — semiconductors, batteries and aerospace — where technical qualification with a customer is not quickly replaced, giving a small supplier more staying power than its size would suggest.
弱気材料
Sellers fear that a company this small, selling into cyclical semiconductor and aerospace supply chains dominated by much larger global materials producers, has little pricing power of its own and can see results swing sharply if even one large customer shifts its orders elsewhere.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
Generated on 2026年9月19日 with claude-haiku-4-5 — shared with all users
The closest Japanese rival, selling graphite electrodes to the same electric-arc steelmakers and fine-carbon and SiC products to the same semiconductor and industrial customers.
Competes for the same high-purity and isotropic graphite orders from semiconductor, solar-silicon and specialty furnace customers.
One of the largest graphite-electrode producers in the world and also a supplier of lithium-ion battery anode materials, so it meets Nippon Carbon in both of its main markets.
A pure-play graphite-electrode maker bidding for the same electric-arc furnace steel producers in export markets outside Japan.
Sells specialty graphite, impervious graphite equipment and carbon/ceramic fibre composites to the same chemical, semiconductor and aerospace buyers.
Supplies graphite electrodes to steelmakers in Asia and Europe, competing on the same export tenders for arc-furnace consumables.
貸借対照表と流動性
売上高
$37.03B
直近の公表四半期までの12か月 — 1株当たり指標からの推計
純利益
$3.73B
直近の公表四半期までの12か月 — 1株当たり指標からの推計
フリーキャッシュフロー
$2.30B
自己資本合計
$53.11B
負債合計
$10.37B
流動比率
2.80
利払い倍率
-
負債/EBITDA
1.25
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$4923.89
現在株価
$5170.00
安全マージン
-5.0%
適正価値レンジ
$3536.45 - $6311.33
使用した評価手法間のばらつきであり、統計的に較正された信頼区間ではありません。
推定方法
バリュエーション指標
P/E レシオ
14.56
ROE
7.0%
P/B レシオ
1.02
P/FCF
23.51
粗利益率
26.1%
ROIC
6.7%
収益性レーダー
価値創造（経済的モート）
ROIC
6.7%
WACC
7.2%
ROIC − WACC
-0.6 pp
ROICはおおむね資本コストと同水準です。企業はかろうじて資本コストを賄えている状態です。
ファンダメンタル分析基準
合格（16）
- Price CAGR 6.33%
- ROIC 6.7%
- P/FCF 23.51
- P/B Ratio 1.02
- Debt/Equity ratio
- Operating Margin 9.8%
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- Revenue Growth 5Y 7.1%
- Analyst Consensus 80% Buy
- Earnings Surprise avg 68.8%
- PEG Ratio 0.66
- Earnings Quality (OCF/NI) 1.50
- Net Margin Trend 12.8% vs 10.7%
不合格（5）
- Gross Margin 26.1%
- CapEx intensity
- DCF valuation (Overvalued)
- ROE 7.2%
- Piotroski F-Score 2/9
データなし（6）
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Share Dilution (missing shares data)
Piotroski F-スコア
重大な財務上の懸念
利益の質
高品質：利益はキャッシュに裏付けられている
株式希薄化
株式を買い戻している。株主に友好的
機関投資家の保有
この企業について機関投資家の報告はありません。
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Takafumi Miyashita | CEO, President & Representative Director | 61 |
| Hiroshi Fujikawa | Executive Officer & Deputy GM of the Business Operations Division | - |
| Takeshi Kawazoe | Senior Managing Executive Officer & GM of Sales Division | - |
| Mr. Akira Urano | Senior Managing Executive Officer & Full time Board Member | 60 |
| Satoshi Yamano | Senior Managing Executive Officer | - |
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for NCRBF, sourced from Markets Gazette.