Nippon Telegraph & Telephone Corp American Depositary…

Summary

NTT, Inc. stands as a leading telecommunications enterprise, serving customers both within Japan and across global territories. The company's multifaceted operations are categorized into four primary divisions: the Integrated ICT Business, the Regional Communications Business, the Global Solutions Business, and a diverse 'Others' segment. Through its Integrated ICT Business, NTT provides mobile communication services, domestic inter-prefectural connectivity, international communications, various solution packages, and comprehensive system development with related support. The Regional Communications Business, conversely, specializes in delivering communication services exclusively within individual prefectures, along with complementary ancillary offerings. Addressing international client needs, the Global Solutions Business offers robust system integration, network system solutions, cloud services, global data center management, and a suite of associated services like consulting, managed IT, and software development. Beyond these core areas, the 'Others' segment includes ventures in real estate, construction, energy, and additional businesses. Founded in Tokyo, Japan, in 1952, the company, formerly known as Nippon Telegraph and Telephone Corporation, is scheduled to formally adopt the name NTT, Inc. in July 2025.

Website

group.ntt

Location

Tokyo, M0, JP

Phone81 3 6838 5111

Employees344,196

CEOAkira Shimada

Sector

Information Technology

Industry

Communications Equipment

IPO DateSep 29, 1994

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Company overview

Business model, segments, and competition.

Peer comparison

Metrics vs closest competitors.

Guidance & outlook

Forward guidance and assumptions.

Bull vs bear case

Upside drivers and key risks.

Valuation snapshot

Multiples vs history and peers.

Competitive moat

Defensibility and market position.

Management track record

Leadership and capital allocation history.

How it makes money

A short diagram of the business model.

Latest Documents

Mentions in Filings

… directors). Mr. Munenosuke Kadonaga, an outside director, is a consultant and has no special conflict of interest with our company. Mr. Jun Sawada, an outside director, serves as the Chairman of the Board of Directors of NTT Corporation. However, the transaction amount between NTT Corporation and our group in fiscal year 2025 will be less than 1% of NTT Corporation's consolidated sales and our consolidated gross operating profit. Furthermore, t …
Sumitomo Mitsui Financial Group, Inc.Nippon Telegraph & Telephone Corp American Depositary Receipt·Annual Report - Amended Annual Securities Report·13 Nov·12 Nov
… red to the same period last year are as follows: Order volume 　In the telecommunications carrier business, while the NCC equipment business was sluggish due to a decrease in capital investment, access construction in the NTT equipment business performed steadily, and communication quality improvement construction (mobile) continued to be strong, resulting in an increase in orders. In the IT solutions business, orders decreased due to the reboun …
COMSYS Holdings CorporationNippon Telegraph & Telephone Corp American Depositary Receipt·Interim Report - Semi-Annual Report (2026.04.01-2027.03.31)·13 Nov·12 Nov
… interoperability subject matter expert on a U.S. Department of Defense Air Force program supporting CI/CD automation and Zero Trust architecture governance. From 2014 to 2022, he led the Agile-DevSecOps global practice at NTT DATA Services, where he developed a digital modernization framework recognized with a CIO magazine product-of-the-year award. Earlier in his career, he held enterprise architecture and technology leadership roles at Raytheo …
TARGATEK, INC.Nippon Telegraph & Telephone Corp American Depositary Receipt·10-12G - Registration statement (Section 12(g))·Q4 26·12 Nov
On March 14, 2006, NTT DOCOMO, Inc., or NTT DOCOMO, acquired approximately 7% of PLDT’s then outstanding common shares from NTT DOCOMO Business, which retained ownership of about 7% of PLDT’s common shares. Since then, NTT DOCOMO has made additional purchases of PLDT shares, bringing the combined beneficial ownership of NTT DOCOMO and NTT DOCOMO Business (both part of Nippon Telegraph and Telephone Corporation) to approximately 20.35% of PLDT’s o …
PLDT Inc.Nippon Telegraph & Telephone Corp American Depositary Receipt·6-K - Current report (foreign private issuer)·Q3 26·12 Nov
… . NextWave Telecom was acquired by Verizon in 2005 and, its spin-off, NextWave Wireless was acquired by AT&T in 2013. In 2012, prior to AT&T acquisition, PacketVideo Inc., a wholly owned subsidiary of NextWave, was sold to NTT DoCoMo and IPWireless Inc., another wholly owned subsidiary of NextWave, which was spun-off in 2008, was acquired by General Dynamics. NextWave, PacketVideo Inc. and IP Wireless, also pioneered several products and technolo …
VEEA INC.Nippon Telegraph & Telephone Corp American Depositary Receipt·DEF 14A - PROXY STATEMENT·Q4 26·10 Nov
NTT provides managed hosting provider services to RouteOne LLC as NTT Ltd., and therefore Receivable Files may be also located at the following NTT locations: 4000 Town Center Suite 200, Southfield, Michigan 48075, 7135 S Decatur Blvd, Las Vegas, Nevada 89118, and 44675 Helm Ct, Plymouth, Michigan 48170. RouteOne LLC also stores Receivable Files via RouteOne eVault storage, which is cloud hosted by Amazon Web Services (AWS) in the AWS US East (N …
World Omni Auto Receivables Trust 2026-DNippon Telegraph & Telephone Corp American Depositary Receipt·EX-4.1 - 8-K - Entry into a Material Definitive Agreement·Q4 26·10 Nov

Key Stats

Trading

Px/Chg 1D$26.88 / +0.07%

Avg Volume177.50K

Beta0.28

Mkt Cap87.55B

FD Mkt Cap85.59B

Float

Shrs Out/Float3.26B / 3.26B

Short Float0.00%

Days to Cover1.00

Stock Repurchased$217.27B

Current Valuation

EV15.64T

EV/EBITDA4.19

EV/Sales1.07

P/B0.01

P/S0.01

FCF Yield-62.94%

ROE11.25%

ROA2.34%

Current Ratio0.51

Dividend

Cash$0.32

Yield3.05%

Yield (TTM)3.05%

Estimates

P/E0.08

Est P/E0.00

Est EPS0.21

Est PEG0.00

Valuation

Metric	5Yr Avg	Jun '22	Jun '23	Jun '24	Jun '25	Oct '26
PRICE-BASED RATIOS
Price / Earnings	0.32	0.09	0.09	0.06	0.58	0.77
Price / Sales	0.01	0.01	0.01	0.01	0.02	0.02
Price / Book Value	0.01	0.01	0.01	0.01	0.01	0.01
Price / Free Cash Flow	-0.17	0.08	0.26	0.28	0.13	-1.59
ENTERPRISE VALUE METRICS
Enterprise Value	11,070,622.6	8,215,822.4	9,254,113.8	10,860,425.6	11,380,464.5	15,642,286.9
Enterprise Value / Sales	1.83	0.68	0.70	0.81	3.11	3.85
Enterprise Value / EBITDA	8.22	2.47	2.71	2.90	14.79	18.21
Enterprise Value / EBIT	17.99	4.65	5.06	5.14	34.76	40.33

Financials

Full Financials

Millions JPY	5Yr CAGR (%)	Mar '22	Mar '23	Mar '24	Mar '25	Mar '26
INCOME STATEMENT
Revenue	5.9%	12,156,447.0	13,136,194.0	13,374,569.0	13,704,727.0	15,278,104.1
Gross Income	7.1%	1,768,593.0	1,828,986.0	1,922,910.0	3,788,411.0	2,327,728.8
EBITDA	4.2%	3,329,776.0	3,411,611.0	3,739,528.0	3,513,354.0	3,920,143.7
EBIT	3.4%	1,768,593.0	1,828,986.0	2,110,942.0	1,791,319.0	2,021,150.3
Net Income	-1.8%	1,181,083.0	1,213,116.0	1,279,521.0	1,000,016.0	1,099,573.2
EPS (Diluted)	35.9%	329.25	348.00	377.25	299.00	334.00
BALANCE SHEET
Cash & ST Inv	20.3%	923,005.0	892,573.0	1,054,100.0	1,000,994.0	1,930,217.5
Total Assets	18.4%	23,862,241.0	25,308,851.0	29,604,223.0	30,062,483.0	46,923,896.9
Total Liabilities	25.4%	14,844,109.0	15,958,224.0	18,711,164.0	18,717,844.0	36,662,048.8
Total Shareholder Equity	4.2%	8,282,456.0	8,561,353.0	9,844,160.0	10,221,587.0	9,769,813.3
CASH FLOW
Net Operating Cash Flow	-15%	3,010,257.0	2,261,013.0	2,374,159.0	2,364,031.0	1,574,758.6
Cap Ex	8%	-1,758,045.0	-1,851,879.0	-2,084,004.0	-2,132,292.0	-2,391,770.3
Free Cash Flow	—	1,252,212.0	409,134.0	290,155.0	231,739.0	-817,011.7

Enterprise Value Bridge

Millions JPY		12 Nov '26
Price (As of 12 Nov '26)		26.13
Basic Shares		3,256.94
Market Cap		85,118.6
Diluted Shares		3,243.49
Fully Diluted Shares Outstanding		3,243.49
Fully Diluted Market Cap		84,767.1
+Consolidated Debt		18,817,245.8
−In-the-Money Convertible Debt		—
+Capital Leases		961,127.4
+Operating Leases		—
−Cash & Equivalents		-2,186,001.3
−Short-term Investments		-
+Total Preferred		-
−In-the-Money Convertible Preferred		—
−Investments in Unconsolidated Subs		—
+Non-Controlling Interest		489,846.7
+Pension Liabilities		—
Enterprise Value		17,206,209.9

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