Nippon Coke & Engineering Company (NJ2) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of Nippon Coke & Engineering Company stock €0.90, price €0.48, upside +86.6%, quality 51 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?Yes
Good quality?Yes
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 27, 2026.
How to read this chart
60‑month range €0.4491 – €1.56 · fair‑value band €0.5800 – €1.13 · the €0.4824 price screens below the €0.9000 fair value. Dashed = 300-day average. As of Oct 27, 2026.
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Nippon Coke & Engineering Company, Limited engages in the manufacture and sale of coke worldwide. The company is also involved in the sale of coal and petroleum coke; production and sale of chemical equipment and devices; and resource recycling, logistics, and real estate activities.
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In addition, the company offers call center operations; manufacture and sale of powder and granular equipment; and port cargo handling and freight transportation services.
Nippon Coke & Engineering Company, Limited was formerly known as Mitsui Mining Co., Ltd. and changed its name to Nippon Coke & Engineering Company, Limited in April 2009. The company was founded in 1889 and is headquartered in Tokyo, Japan.
Stock analysis
Nippon Coke & Engineering Company (NJ2) currently trades at €0.4824, while our model-based Fair Value estimate is €0.9000, implying the stock looks roughly 46.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €0.9000 per share, and 5 of the 9 models we run sit above the €0.4824 price.
Bear case: the Multiples group reads lowest at €0.1000, and 4 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: €0.5800 (bear) to €1.13 (bull), the price of €0.4824 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Nippon Coke & Engineering Company reported revenue of ¥91.4B in FY2026 versus ¥125B in FY2022, a compound −7.5%/yr. Reported net income was −¥7.7B in FY2026.
Key figures
Market cap €154M Micro · EPS (TTM) €−0.1500 · Dividend yield 3.2% · Net margin −8.4% · Return on equity −19.4% · Return on assets (EBIT) 1.3% · Operating margin −1.3% · Revenue (TTM) ¥87.3B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (medium confidence).
What moves the price
The share trades about 34% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 87%, NJ2 screens cheaper than that median.
Fair Value models
Bear€0.5800Fair Value €0.9000Bull€1.13
Price €0.4824 · Upside +86.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.30/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−7.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−19.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.8%
Start year 2021 (pandemic). Over 10 years: −0.1% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.5%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
1.5% (2020) → −8.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −0.7% a year for the price.
Compare Nippon Coke & Engineering Company with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Coking Coal · 21 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Top 25%
Fair Value upside+86.6% · Top 25%
Profitability
Return on assets−6.1% · Bottom 25%
Net margin (12 months)−8.3% · Below median
Operating margin (12 months)−1.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)−16.7% · Bottom 25%
Dividend yield (12 months)3.2% · Top 25%
Balance sheet
Debt / equity0.85× · Highest 25%
Valuation Multiplesvs Coking Coal median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Nippon Coke & Engineering Company Fair Value". https://www.fairvalue-calculator.com/stock/NJ2
Frequently asked questions
Is Nippon Coke & Engineering Company (NJ2) overvalued or undervalued?
As of Oct 27, 2026, our model estimates a fair value of €0.9000 versus a price of €0.4824, about +87% upside (undervalued).
What is the fair value of NJ2?
Our model-based fair value for Nippon Coke & Engineering Company is €0.9000 (as of Oct 27, 2026), built from audited fundamentals. The current price: €0.4824.
What is the quality score of NJ2?
Nippon Coke & Engineering Company has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Nippon Coke & Engineering Company (NJ2)?
Our model-based price target is the fair value of €0.9000 (as of Oct 27, 2026) from 9 valuation models. Cautious scenario €0.5800, optimistic scenario €1.13. It is a calculation from audited fundamentals, not an analyst target.
What is the Nippon Coke & Engineering Company stock forecast for 2026?
Our models put fair value at €0.9000, about +87% upside versus a price of €0.4824 (undervalued). Cautious scenario €0.5800, optimistic scenario €1.13. The calculation is refreshed regularly with new filings.
What is the revenue of Nippon Coke & Engineering Company (NJ2)?
Nippon Coke & Engineering Company reported trailing-twelve-month revenue of about ¥87.3B (latest available figure, as of Oct 27, 2026).
Does Nippon Coke & Engineering Company pay a dividend?
Nippon Coke & Engineering Company currently shows a dividend yield of 3.21% relative to its recent price (as of Oct 27, 2026).
What growth is priced into Nippon Coke & Engineering Company (NJ2)?
For today's price to be fair in a discounted-cash-flow model, Nippon Coke & Engineering Company would have to grow free cash flow by +1.4 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Oct 27, 2026.
What discount rate (WACC) does the fair value of NJ2 use?
Our models discount Nippon Coke & Engineering Company at 11.8 %: a base by market capitalisation (micro), damped by beta 0.78, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Nippon Coke & Engineering Company that is +1.4 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Nippon Coke & Engineering Company (NJ2) delivered so far?
Over the past 5 years revenue at Nippon Coke & Engineering Company grew +0.8 % a year. The price currently implies +1.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Nippon Coke & Engineering Company (NJ2) growing?
The median revenue growth in the sector is +9.5 % a year. That is the yardstick for the growth priced into Nippon Coke & Engineering Company (+1.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nippon Coke & Engineering Company (NJ2)?
The free-cash-flow yield on the price is 34.42 %: that much free cash flow Nippon Coke & Engineering Company produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nippon Coke & Engineering Company (NJ2)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nippon Coke & Engineering Company it is €0.9000 per share (as of Oct 27, 2026), against a price of €0.4824. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Nippon Coke & Engineering Company stock overvalued or undervalued in 2026?
As of Oct 27, 2026, NJ2 trades below its calculated fair value: price €0.4824, fair value €0.9000, a gap of about +87% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NJ2?
No. The price is what the market pays today (€0.4824); the fair value is what the company's own numbers justify (€0.9000). For Nippon Coke & Engineering Company the two are €0.4176 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nippon Coke & Engineering Company worth?
The market values Nippon Coke & Engineering Company at about €154M (market capitalisation, as of Oct 27, 2026). Per share that is €0.4824; our models calculate a fair value of €0.9000 per share.
What do the bullish and bearish scenarios say about NJ2?
Our models span a range for Nippon Coke & Engineering Company: cautious scenario €0.5800, base €0.9000, optimistic €1.13 per share (as of Oct 27, 2026, price €0.4824). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nippon Coke & Engineering Company (NJ2)?
Balance-sheet figures for Nippon Coke & Engineering Company (as of Oct 27, 2026): return on equity −19.4%, debt of 0.85 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is NJ2 from its 52-week high?
Nippon Coke & Engineering Company trades at €0.4824, about 34% below its 52-week high of €0.7350 and 4% above the low of €0.4640 (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of €0.9000 is for.
Which stocks are comparable to Nippon Coke & Engineering Company?
From the same area (Basic Materials) we also value Warrior Met Coal, Inc, PT Alamtri Minerals Indonesia Tbk,, Shanxi Meijin Energy Co, Alpha Metallurgical Resources, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Nippon Coke & Engineering Company stock attractive at the current price?
The data as of Oct 27, 2026: price €0.4824, calculated fair value €0.9000 (+87%), Quality Score 51/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NJ2 calculated?
We run Nippon Coke & Engineering Company through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €0.9000, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.7 % above its aggregate fair value. Nippon Coke & Engineering Company currently trades 46 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Nippon Coke & Engineering Company (NJ2)?
The closing price on Oct 26, 2026 was €0.4824. Our model-based fair value is €0.9000, about +87% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nippon Coke & Engineering Company right now?
The price is below even our cautious bear case (€0.5800). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€0.5800 to €1.13) leaves room in how you read the outcome.
Key figures of Nippon Coke & Engineering Company
How large is the market capitalisation of Nippon Coke & Engineering Company (NJ2)?
The market capitalisation of Nippon Coke & Engineering Company is €154M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Nippon Coke & Engineering Company (NJ2)?
Earnings per share at Nippon Coke & Engineering Company are €−0.1500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nippon Coke & Engineering Company (NJ2)?
The dividend yield of Nippon Coke & Engineering Company is 3.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nippon Coke & Engineering Company (NJ2)?
The net margin of Nippon Coke & Engineering Company is −8.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nippon Coke & Engineering Company (NJ2)?
The return on equity (ROE) of Nippon Coke & Engineering Company is −19.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Nippon Coke & Engineering Company (NJ2)?
On an EBIT basis the return on assets of Nippon Coke & Engineering Company is 1.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Nippon Coke & Engineering Company (NJ2)?
The operating margin of Nippon Coke & Engineering Company is −1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nippon Coke & Engineering Company (NJ2)?
Revenue at Nippon Coke & Engineering Company is growing −16.7% versus a year earlier (3y avg −19.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Nippon Coke & Engineering Company (NJ2)?
Earnings per share at Nippon Coke & Engineering Company are growing −59.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Nippon Coke & Engineering Company (NJ2) carry?
The net debt of Nippon Coke & Engineering Company is ¥60.9B (fiscal year 2026, ≈ 7.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Oct 27, 2026