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Nissan Motor Co Ltd ADR NSANY

Morningstar Rating
$7.61 +0.07 (0.93%)
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Company Report

Nissan Earnings: Results Disappoint but Maintains Fiscal Year Guidance

No-moat-rated Nissan reported fiscal third-quarter 2023 earnings per share of JPY 7.54, well below the JPY 15.51 FactSet consensus, and down JPY 27.44 from the JPY 34.98 reported a year ago as supply chain disruptions, inflationary cost pressures, lower China joint venture equity income, and unfavorable mix offset consolidated volume gains. While automotive revenue rose 9% to JPY 2.87 trillion, consolidated volume was 15% higher with a 5% decline in average revenue per unit. Increased volume, pricing, and favorable currency supported revenue growth.

Price vs Fair Value

NSANY is trading at a 60% discount.
Price
$7.54
Fair Value
$81.00
Uncertainty
High
1-Star Price
$92.98
5-Star Price
$85.20
Economic Moat
Xmllh
Capital Allocation
Dsjtgcy

Bulls Say, Bears Say

Bulls

Through its Renault alliance and ownership in Mitsubishi, Nissan enjoys economies of scale due to cost-sharing arrangements with its partners.

Bears

Nissan participates in a capital-intensive, highly competitive, cyclical industry where swings in volume and volatile input costs can substantially impact profitability.

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News

Trading Information

Previous Close Price
$7.54
Day Range
$7.487.68
52-Week Range
$6.859.65
Bid/Ask
$7.43 / $7.69
Market Cap
$15.17 Bil
Volume/Avg
130,992 / 117,696

Key Statistics

Price/Earnings (Normalized)
3.92
Price/Sales
0.17
Dividend Yield (Trailing)
2.73%
Dividend Yield (Forward)
2.73%
Total Yield
8.42%

Company Profile

While Nissan sold 3.3 million vehicles last fiscal year, total calendar 2022 Renault-Nissan-Mitsubishi alliance sales volume of 6.5 million vehicles makes the group the fourth-largest vehicle seller in the world, behind Toyota at 10.3 million, Volkswagen at 8.5 million, and Hyundai/Kia with 6.8 million vehicles sold. Nissan's financial services subsidiary provides consumers with auto loans and leases but also finances Nissan's sales to its dealerships (known as floor-plan financing). Nissan is 43.4% owned by Renault, while Nissan in turn owns 15% of Renault. Nissan also owns a 34% stake in Mitsubishi Motors. Under a new alliance agreement expected to be completed before the end of December 2023, Nissan and Renault will have cross-shareholding capped at 15% voting rights for each company.
Sector
Consumer Cyclical
Industry
Auto Manufacturers
Stock Style Box
Large Value
Total Number of Employees
147,116

Competitors

Valuation

Metric
NSANY
F
TM
Price/Earnings (Normalized)
3.926.1913.18
Price/Book Value
0.371.181.33
Price/Sales
0.170.290.99
Price/Cash Flow
1.973.695.90
Price/Earnings
NSANY
F
TM

Financial Strength

Metric
NSANY
F
TM
Quick Ratio
1.361.010.98
Current Ratio
1.751.201.18
Interest Coverage
7.912.82320.51
Quick Ratio
NSANY
F
TM

Profitability

Metric
NSANY
F
TM
Return on Assets (Normalized)
2.64%3.08%5.79%
Return on Equity (Normalized)
8.81%18.80%15.14%
Return on Invested Capital (Normalized)
3.75%4.23%6.76%
Return on Assets
NSANY
F
TM
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