Nikon Corporation

NINOY

Leisure · Consumer Cyclical

Exchange

Other OTC

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

Dividends

Weak

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Winston Score History

The full picture

Nikon Corporation is a Japanese company best known for making cameras and camera lenses, but it also builds precision equipment used in factories that manufacture computer chips. Its main customers include everyday photographers, professional photographers, and large semiconductor manufacturers. Nikon is one of the most recognized camera brands in the world and has been making optical products for over 100 years.

Nikon earns money by selling cameras, lenses, and industrial machines outright — there are no subscriptions involved. The company operates globally but is headquartered in Tokyo, Japan, and generates significant revenue from Asia, Europe, and North America. Its long history and optical engineering expertise give it a strong brand, but the camera market has shrunk sharply as smartphones replace traditional cameras. The biggest risk Nikon faces is continued decline in consumer camera demand, while its semiconductor equipment division offers a potential growth path if chip manufacturing investment keeps expanding.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-2.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+940.5% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

19.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

$245.5B cash & investments at current burn rate

Revenue declining

Nikon Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

39.3%

Modest — 39.3% gross margin

Profit after running costs

Operating Margin

-1.4%

Losing money on operations — -1.4%

Return on the money invested

ROCE

-1.7%

Weak — -1.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+25.7%

Fast-growing sales (+25.7% YoY)

Profit growth

EPS YoY

-856.2%

Earnings shrinking (-856.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-3.5%

Burning cash (-3.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.37

Conservative — low debt load (0.37)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

1.96%

no trend

Small dividend — 1.96% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-35.5%

no trend

Dividend cut (-35.5% YoY) — warning sign

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