N 
NTT 9432.T · JPY
Communication Services · Diversified Telecommunication Services · Tokyo Stock Exchange · 🇯🇵 Japan
160.2
-2.85%
Close of 6 Nov 2026, in JPY
At a glance
Figures in JPY, from our data supplier.
Revenue
¥14.41trn
FY2017FY2026
Net income
¥1.04trn
FY2017FY2026
Free cash flow
−¥770.54bn
FY2017FY2026
Shareholders' equity
¥9.73trn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥14.41trn | ¥13.70trn | ¥13.37trn | ¥13.14trn | ¥12.16trn | ¥11.94trn | ¥11.90trn | ¥11.88trn | ¥11.80trn | ¥11.39trn |
| Research and development | — | ¥268.67bn | ¥254.88bn | ¥252.82bn | ¥247.99bn | ¥232.61bn | ¥224.89bn | ¥211.32bn | ¥208.57bn | ¥211.62bn |
| Operating income | ¥1.91trn | ¥1.84trn | ¥2.11trn | ¥1.99trn | ¥1.96trn | ¥1.88trn | ¥1.79trn | ¥2.02trn | ¥1.97trn | ¥1.61trn |
| Net income | ¥1.04trn | ¥1.00trn | ¥1.28trn | ¥1.21trn | ¥1.18trn | ¥916.18bn | ¥855.31bn | ¥854.56bn | ¥909.70bn | ¥800.13bn |
| Diluted earnings per share | 12.74 | 12.18 | 15.34 | 15.43 | 13.70 | 9.98 | 9.32 | 9.31 | 9.91 | 8.71 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥46.72trn | ¥30.93trn | ¥29.60trn | ¥25.31trn | ¥23.86trn | ¥22.97trn | ¥23.01trn | ¥22.30trn | ¥21.68trn | ¥21.25trn |
| Cash and short-term investments | ¥1.92trn | ¥1.61trn | ¥982.87bn | ¥892.57bn | ¥923.00bn | ¥977.46bn | ¥1.07trn | ¥1.06trn | ¥811.94bn | ¥989.06bn |
| Total liabilities | ¥36.50trn | ¥19.59trn | ¥18.71trn | ¥15.96trn | ¥14.84trn | ¥14.76trn | ¥11.55trn | ¥10.49trn | ¥9.64trn | ¥9.74trn |
| Debt | ¥15.96trn | ¥11.17trn | ¥10.71trn | ¥9.15trn | ¥8.21trn | ¥8.37trn | ¥4.75trn | ¥4.31trn | ¥4.01trn | ¥4.12trn |
| Shareholders' equity | ¥9.73trn | ¥10.22trn | ¥9.84trn | ¥8.56trn | ¥8.28trn | ¥7.56trn | ¥9.06trn | ¥9.26trn | ¥9.49trn | ¥9.05trn |
| Shares outstanding | 81,424m | 82,099m | 83,408m | 78,613m | 86,195m | 91,811m | 91,811m | 91,811m | 91,811m | 91,811m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥1.49trn | ¥2.36trn | ¥2.37trn | ¥2.26trn | ¥3.01trn | ¥3.01trn | ¥3.00trn | ¥2.41trn | ¥2.54trn | ¥2.92trn |
| Capital spending | −¥2.26trn | −¥2.13trn | −¥2.08trn | −¥1.85trn | −¥1.76trn | −¥1.80trn | −¥1.86trn | −¥1.67trn | −¥1.71trn | −¥1.70trn |
| Free cash flow | −¥770.54bn | ¥231.74bn | ¥290.15bn | ¥409.13bn | ¥1.25trn | ¥1.21trn | ¥1.14trn | ¥733.81bn | ¥830.55bn | ¥1.22trn |
| Dividends paid | −¥433.96bn | −¥436.77bn | −¥417.44bn | −¥419.52bn | −¥396.96bn | −¥358.47bn | −¥354.83bn | −¥313.61bn | −¥271.40bn | −¥247.99bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.62trn | ¥3.99trn | ¥3.65trn | ¥3.51trn | ¥3.26trn | ¥3.66trn | ¥3.46trn | ¥3.35trn |
| Operating income | ¥450.51bn | ¥380.88bn | ¥534.52bn | ¥564.63bn | ¥426.17bn | ¥327.36bn | ¥500.51bn | ¥505.64bn |
| Net income | ¥274.83bn | ¥110.97bn | ¥330.41bn | ¥335.94bn | ¥259.71bn | ¥149.32bn | ¥295.90bn | ¥280.66bn |
| Diluted earnings per share | 3.38 | 1.36 | 4.02 | 4.09 | 3.16 | 1.82 | 3.55 | 3.36 |
| Cash from operations | ¥574.49bn | ¥527.81bn | −¥20.37bn | ¥451.50bn | ¥526.25bn | ¥1.29trn | −¥42.78bn | ¥926.23bn |
| Capital spending | −¥630.29bn | −¥596.95bn | −¥651.51bn | −¥416.51bn | −¥590.76bn | −¥598.69bn | −¥529.10bn | −¥438.41bn |
| Free cash flow | −¥55.80bn | −¥69.14bn | −¥671.88bn | ¥34.98bn | −¥64.51bn | ¥686.76bn | −¥571.88bn | ¥487.82bn |
| Total assets | ¥47.46trn | ¥46.72trn | ¥46.83trn | ¥33.45trn | ¥31.00trn | ¥30.93trn | ¥30.60trn | ¥29.05trn |
| Cash and short-term investments | ¥2.39trn | ¥1.92trn | ¥2.82trn | ¥3.32trn | ¥2.03trn | ¥1.61trn | ¥1.20trn | ¥1.21trn |
| Debt | ¥5.42trn | ¥15.96trn | ¥4.39trn | ¥14.69trn | ¥5.15trn | ¥10.36trn | ¥4.03trn | ¥10.02trn |
| Shareholders' equity | ¥9.86trn | ¥9.73trn | ¥9.51trn | ¥9.21trn | ¥9.40trn | ¥10.22trn | ¥10.16trn | ¥9.99trn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.1% | 3.8% | 2.2% |
| Operating income | -1.4% | 0.2% | 3.3% |
| Net income | -5.1% | 2.5% | 3.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 13.3% | 14.4% | 14.9% | 14.9% |
| Net margin | 7.2% | 8.3% | 8.4% | 7.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.0 | 12.9 | 10.3 | 11.2 | 11.0 | 12.6 | 11.4 | 11.8 | 9.1 | 12.2 |
| Price to sales | 0.9 | 0.9 | 1.0 | 1.0 | 1.1 | 1.0 | 0.8 | 0.8 | 0.7 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 29 Sept 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.70 | 7.90 | 5.20 | 4.90 | 4.80 | 4.20 | 3.90 | 3.80 |
- 25-for-1 split · 29 Jun 2023
- 2-for-1 split · 27 Dec 2019
- 2-for-1 split · 26 Jun 2015
- 100-for-1 split · 5 Jan 2009
- 1.02-for-1 split · 26 Sept 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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