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NOF's Days Sales Outstanding for the
three
months ended in Mar. 2026 was 72.1.
NOF's Days Inventory for the
three
months ended in Mar. 2026 was 106.36.
NOF's Days Payable for the
three
months ended in Mar. 2026 was 35.53.
Therefore, NOF's Cash Conversion Cycle (CCC) for the
three
months ended in Mar. 2026 was 142.93.
NOF (TSE:4403) Cash Conversion Cycle Explanation
Generally, the lower this number is, the better for the company. Although it should be combined with other metrics (such as ROE % and ROA %), it can be especially useful for comparing close competitors, because the company with the lowest CCC is often the one with better management.
Be Aware
CCC is most effective with retail-type companies, which have inventories that are sold to customers. Consulting businesses, software companies and insurance companies are all examples of companies for whom this metric is meaningless.
The CCC is one of several tools that can help you evaluate management, especially if it is calculated for several consecutive time periods and for several competitors. Decreasing or steady CCCs are good, while rising ones should motivate you to dig a bit deeper.
NOF Cash Conversion Cycle Related Terms
NOF Cash Conversion Cycle Historical Data
* Premium members only.
The historical data trend for NOF's Cash Conversion Cycle can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TSE:4403 vs LIN, SHW, ECL: Cash Conversion Cycle Comparison
For the Specialty Chemicals subindustry, NOF's Cash Conversion Cycle, along with its competitors' market caps and Cash Conversion Cycle data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NOF Cash Conversion Cycle vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, NOF's Cash Conversion Cycle distribution charts can be found below:
* The bar in red indicates where NOF's Cash Conversion Cycle falls into.
Cash Conversion Cycle (CCC) measures how fast a company can convert cash on hand into even more cash on hand. This metric looks at the amount of time needed to sell inventory, the amount of time needed to collect receivables and the length of time the company is afforded to pay its bills without incurring penalties.
Cash Conversion Cycle is one of several measures of management effectiveness.
NOF's Cash Conversion Cycle for the fiscal year that ended in Mar. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NOF (TSE:4403) has a Cash Conversion Cycle of 142.93 as of Mar. 2026. Cash conversion cycle equals sum of days inventory and days sales outstanding less days payable. View historical data on NOF and its competitors.
Is NOF's Cash Conversion Cycle too high?
NOF's current Cash Conversion Cycle is 142.93. The Chemicals industry median Cash Conversion Cycle is 89.36. NOF's value of 142.93 is 59.9% above this industry median. Overall, NOF has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NOF's Cash Conversion Cycle compare to LIN and SHW?
NOF's Cash Conversion Cycle of 142.93 can be compared against companies in the Chemicals industry. The industry median Cash Conversion Cycle is 89.36. NOF's value of 142.93 is 59.9% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Conversion Cycle for a Chemicals company?
The median Cash Conversion Cycle among Chemicals companies is 89.36, based on 1,579 companies in the industry. Companies in the top quartile (top 25%) have a Cash Conversion Cycle significantly above this median, while those in the bottom quartile fall well below. However, Cash Conversion Cycle should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NOF's current Cash Conversion Cycle of 142.93 is 59.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Conversion Cycle mean?
A high Cash Conversion Cycle can signal that a stock is expensive relative to its fundamentals. Cash conversion cycle equals sum of days inventory and days sales outstanding less days payable. View historical data on NOF and its competitors. For the Chemicals industry, the median Cash Conversion Cycle is 89.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NOF's current Cash Conversion Cycle is 142.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NOF stock overvalued right now?
Based on GuruFocus' analysis, NOF (TSE:4403) is currently considered Fairly Valued. The stock's GF Value™ is 円2,978.48, compared to a current price of 円2,751.00 — trading 7.6% below its estimated fair value. The current Cash Conversion Cycle is 142.93 and 59.9% above the Chemicals industry median of 89.36. NOF's overall GF Score™ is 89/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Conversion Cycle calculated?
Cash Conversion Cycle is calculated from a company's financial statements. For NOF (TSE:4403), the current Cash Conversion Cycle is 142.93 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NOF (TSE:4403) Overvalued in 2026?
Based on GuruFocus' analysis, NOF stock appears to be undervalued.
The current stock price of 円2,751.00 is trading 7.6% below its estimated GF Value™ of 円2,978.48.
GuruFocus considers NOF to be Fairly Valued.
Key valuation signals for TSE:4403:
Cash Conversion Cycle: 142.93
GF Value™: 円2,978.48 vs. price of 円2,751.00 (7.6% below fair value)
Industry Position: 59.9% above the Chemicals median
No single metric tells the full story. See the TSE:4403 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NOF Corp is engaged in the chemical manufacturing business. The Group has three reportable segments: Functional Chemicals Business, Pharmaceuticals, Medical and Healthcare Business, & Chemicals Business. The Functional Chemicals segment manufactures and sells fatty acids, surfactants, ethylene oxide/propylene oxide derivatives, organic peroxides, petrochemicals, functional polymers, electronic materials, and special rust prevention agents. The Pharmaceuticals, Medical and Healthcare segment produces pharmaceutical and functional food ingredients, health-related products, biocompatible materials, and raw materials for DDS pharmaceutical formulations. The Chemicals segment manufactures and sells industrial explosives, space-related products, defense-related products, and functional products.
89GF Score
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