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NTT, Inc. 9432.T

JP · Tokyo Stock Exchange · XTKS · stock · Communication Services · website

NTT, Inc. statistics & valuation

Market cap¥13.16T
P / E12.7×
P / S0.9×
P / B1.4×
Net margin7.2%
FCF margin-5.3%
Net debt¥15.00T
Enterprise value USD$177.4B
Earnings yield EBIT/EV6.3%
Return on capital7.3%
Graham number +14%¥184.36

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (¥184.36); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
9.20% 9.60% 7.30% 7.20% 2023202420252026
Gross margin (%)
78.90% 78.10% 77.40% 77.70% 2023202420252026
Operating margin (%)
14.00% 14.50% 12.20% 12.40% 2023202420252026
Return on equity (%)
14.20% 13.00% 9.80% 10.70% 2023202420252026
Shares outstanding
81.20B 81.20B 81.20B 81.20B 2023202420252026
Net debt (¥)
¥8.36T ¥9.73T ¥10.17T ¥15.00T 2023202420252026
Share buybacks (¥)
2023202420252026
Return on assets (%)
4.80% 4.30% 3.30% 2.20% 2023202420252026
Free cash flow margin (%)
3.10% 2.20% 1.70% -5.30% 2023202420252026
Debt / equity (×)
1.07× 1.09× 1.09× 1.74× 2023202420252026
EPS (¥)
¥13.92 ¥15.09 ¥11.96 ¥12.61 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

NTT, Inc. trades at about 12.8× earnings — near its 10-year norm (10-year range 11.3×–12.5×, median 12.1×).

11.3× 12.8×

Shaded band = 10-year range (11.3×–12.5×); dot = today's 12.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin77.7%77.4%78.1%78.9%
Operating margin12.4%12.2%14.5%14.0%
Net margin7.2%7.3%9.6%9.2%
FCF margin-5.3%1.7%2.2%3.1%
Return on assets2.2%3.3%4.3%4.8%
Return on equity10.7%9.8%13.0%14.2%
Debt / equity1.16×0.70×0.72×0.75×
Current ratio0.510.940.940.97

Computed from company filings · JP · as of 2026-03-31. Figures in JPY. Facts plus Stocktoria's own computed scores — not investment advice.