NTT, Inc.

TSE:9432 Stock Report

Market Cap: JP¥13.4t

NTT Valuation

Is 9432 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 9432 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
JP¥469.12
Fair Value
65.6% undervalued intrinsic discount
14
Number of Analysts

Below Fair Value: 9432 (¥161.5) is trading below our estimate of fair value (¥469.12)

Significantly Below Fair Value: 9432 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9432?

Key metric: As 9432 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9432. This is calculated by dividing 9432's market cap by their current earnings.
What is 9432's PE Ratio?
PE Ratio13.6x
EarningsJP¥985.59b
Market CapJP¥13.36t

Price to Earnings Ratio vs Peers

How does 9432's PE Ratio compare to its peers?

The above table shows the PE ratio for 9432 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.8x
3774 Internet Initiative Japan
24.5x13.48%JP¥499.1b
9434 SoftBank
21.8x8.24%JP¥10.9t
9433 KDDI
14x5.32%JP¥9.5t
9984 SoftBank Group
15x-34.15%JP¥26.0t
9432 NTT
13.6x6.34%JP¥13.4t

Price-To-Earnings vs Peers: 9432 is good value based on its Price-To-Earnings Ratio (13.6x) compared to the peer average (18.8x).

Price to Earnings Ratio vs Industry

How does 9432's PE Ratio compare vs other companies in the Asian Telecom Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
9432 13.6xIndustry Avg. 16.7xNo. of Companies17PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 9432 is good value based on its Price-To-Earnings Ratio (13.6x) compared to the Asian Telecom industry average (16.3x).

Price to Earnings Ratio vs Fair Ratio

What is 9432's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

9432 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.6x
Fair PE Ratio21.1x

Price-To-Earnings vs Fair Ratio: 9432 is good value based on its Price-To-Earnings Ratio (13.6x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 9432 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥161.50
JP¥178.43
+10.48%
11.65%JP¥215.00JP¥150.00n/a14
Sep ’26JP¥158.00
JP¥177.00
+12.03%
11.65%JP¥215.00JP¥150.00n/a14
Aug ’26JP¥155.90
JP¥175.57
+12.62%
11.53%JP¥215.00JP¥150.00n/a14
Jul ’26JP¥152.90
JP¥174.00
+13.80%
12.36%JP¥215.00JP¥150.00n/a13
Jun ’26JP¥160.40
JP¥174.00
+8.48%
12.37%JP¥215.00JP¥150.00n/a13
May ’26JP¥149.80
JP¥167.00
+11.48%
10.21%JP¥215.00JP¥150.00n/a13
Apr ’26JP¥144.50
JP¥168.42
+16.55%
10.09%JP¥215.00JP¥150.00n/a12
Mar ’26JP¥145.40
JP¥170.36
+17.17%
10.05%JP¥215.00JP¥153.00n/a11
Feb ’26JP¥152.70
JP¥175.18
+14.72%
13.04%JP¥240.00JP¥155.00n/a11
Jan ’26JP¥158.00
JP¥175.42
+11.02%
12.48%JP¥240.00JP¥155.00n/a12
Dec ’25JP¥153.40
JP¥176.25
+14.90%
12.40%JP¥240.00JP¥155.00n/a12
Nov ’25JP¥147.40
JP¥175.75
+19.23%
12.35%JP¥240.00JP¥155.00n/a12
Oct ’25JP¥147.40
JP¥176.54
+19.77%
11.95%JP¥240.00JP¥155.00n/a13
Sep ’25JP¥155.70
JP¥181.87
+16.81%
13.01%JP¥240.00JP¥155.00JP¥158.0015
Aug ’25JP¥155.80
JP¥183.60
+17.84%
12.26%JP¥240.00JP¥160.00JP¥155.9015
Jul ’25JP¥156.20
JP¥185.60
+18.82%
12.15%JP¥240.00JP¥160.00JP¥152.9015
Jun ’25JP¥154.30
JP¥187.60
+21.58%
11.75%JP¥240.00JP¥160.00JP¥160.4015
May ’25JP¥170.50
JP¥199.00
+16.72%
9.14%JP¥240.00JP¥172.00JP¥149.8015
Apr ’25JP¥176.70
JP¥199.00
+12.62%
9.14%JP¥240.00JP¥172.00JP¥144.5015
Mar ’25JP¥180.70
JP¥199.69
+10.51%
8.92%JP¥240.00JP¥172.00JP¥145.4016
Feb ’25JP¥187.20
JP¥196.56
+5.00%
8.63%JP¥240.00JP¥175.00JP¥152.7016
Jan ’25JP¥172.30
JP¥196.56
+14.08%
8.63%JP¥240.00JP¥175.00JP¥158.0016
Dec ’24JP¥173.20
JP¥191.50
+10.57%
10.25%JP¥240.00JP¥156.00JP¥153.4018
Nov ’24JP¥178.30
JP¥190.21
+6.68%
9.98%JP¥240.00JP¥156.00JP¥147.4019
Oct ’24JP¥176.60
JP¥189.16
+7.11%
10.03%JP¥240.00JP¥156.00JP¥147.4019
Sep ’24JP¥168.60
JP¥186.16
+10.41%
9.42%JP¥240.00JP¥156.00JP¥155.7019
AnalystConsensusTarget
Consensus Narrative from 14 Analysts
JP¥178.43
Fair Value
9.5% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/09/14 18:21
End of Day Share Price 2025/09/12 00:00
Earnings2025/06/30
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NTT, Inc. is covered by 31 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tetsuro TsusakaBarclays
Hiroshi YamashinaBNP Paribas Securities (Asia)
Yuki KanekoBofA Global Research