Noritake Co Ltd is engaged in manufacturing of grinding and polishing tools, electronic component materials and manufacturing equipment. The group has established four different business fields with the application and development of a variety of ceramics manufacturing technologies: Industrial Products, which supports industries with grinding wheels and diamond tools, Ceramics & Materials, which supplies ceramic raw materials to many kinds of manufacturers, Engineering which develops and proposes manufacturing equipment and technologies, and Tabletop, which offers tableware to create rich and luxurious dining.

Financial Strength

10/10

Name	Current	Vs Industry
Cash-To-Debt	7.84
Equity-to-Asset	0.73
Debt-to-Equity	0.02
Debt-to-EBITDA	0.18
Interest Coverage	535.55
Piotroski F-Score	7/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	3.18	Distress Grey Safe
Beneish M-Score	-2.82	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

5/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	8.7
	3-Year EBITDA Growth Rate	31.3
	3-Year EPS without NRI Growth Rate	52.4
	3-Year Book Growth Rate	9.7

Momentum Rank

9/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	65.36
	9-Day RSI	60.97
	14-Day RSI	56.04
	6-1 Month Momentum %	-0.88
	12-1 Month Momentum %	31.4

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	2.32
	Quick Ratio	1.46
	Cash Ratio	0.51
	Days Inventory	119.19
	Days Sales Outstanding	88.13
	Days Payable	33.24

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	3.3
	Dividend Payout Ratio	0.32
	3-Year Dividend Growth Rate	60.9
	Forward Dividend Yield %	3.37
	5-Year Yield-on-Cost %	10.61
	3-Year Average Share Buyback Ratio	-0.1
	Shareholder Yield %	6.89

Profitability Rank

6/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	27.44
	Operating Margin %	7.77
	Net Margin %	8.32
	FCF Margin %	11.74
	ROE %	8.44
	ROA %	6.12
	ROIC %	5.01
	ROC (Joel Greenblatt) %	17.62
	ROCE %	10.49
	Years of Profitability over Past 10-Year	10

GF Value Rank

1/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	10.32
	PE Ratio without NRI	10.81
	Shiller PE Ratio	15.77
	PEG Ratio	1.05
	PS Ratio	0.86
	PB Ratio	0.81
	Price-to-Tangible-Book	0.82
	Price-to-Free-Cash-Flow	7.08
	Price-to-Operating-Cash-Flow	5.37
	EV-to-EBIT	6.49
	EV-to-EBITDA	6.49
	EV-to-Revenue	0.72
	EV-to-FCF	5.98
	Price-to-Projected-FCF	0.76
	Price-to-DCF (Earnings Based)	0.23
	Price-to-DCF (FCF Based)	0.44
	Price-to-Median-PS-Value	1.81
	Price-to-Peter-Lynch-Fair-Value	0.53
	Price-to-Graham-Number	0.63
	Price-to-Net-Current-Asset-Value	2.85
	Earnings Yield (Greenblatt) %	15.41
	FCF Yield %	14.1
	Forward Rate of Return (Yacktman) %	13.47

GF Value: €15.39

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