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Rigaku Holdings Corporation
(268A)
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Rating:60Neutral
Price Target:
¥2,280.00
▲(17.22% Upside)
Action:Reiterated
Date:08/10/26
The score is primarily supported by strong operating profitability and solid TTM revenue growth, but is meaningfully constrained by deteriorating free cash flow and weak cash conversion. Technicals are currently soft (below key moving averages with negative MACD), and the high P/E with a modest dividend yield further pressures the overall rating.
Positive Factors
High gross & operating margins
Sustained high gross and EBIT margins indicate strong product-level profitability and pricing power in X-ray analytical equipment. These margins provide durable capacity to fund R&D and service investments, supporting long-term competitiveness and resilience across market cycles.
Negative Factors
Deteriorating cash generation
Weak operating cash conversion and a steep fall in free cash flow reduce the firm’s ability to self-fund growth, dividends, or debt repayment. Over a 2–6 month horizon this constrains strategic flexibility and raises sensitivity to working-capital swings or higher investment needs.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross & operating margins
Sustained high gross and EBIT margins indicate strong product-level profitability and pricing power in X-ray analytical equipment. These margins provide durable capacity to fund R&D and service investments, supporting long-term competitiveness and resilience across market cycles.
Read all positive factors
Rigaku Holdings Corporation (268A) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥440.80B
Dividend Yield0.97%
Average Volume (3M)1.48M
Price to Earnings (P/E)47.8
Beta (1Y)1.10
Revenue Growth4.93%
EPS Growth-15.59%
CountryJP
Employees1,971
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)40.72
Shares Outstanding226,516,100
10 Day Avg. Volume1,503,800
30 Day Avg. Volume1,475,820
Financial Highlights & Ratios
PEG Ratio-1.44
Price to Book (P/B)494.16
Price to Sales (P/S)2.96
P/FCF Ratio101.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,200.00Price Target Upside64.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)60.21
Revenue Forecast (FY)¥102.18B
Rigaku Holdings Corporation Business Overview & Revenue Model
Company Description
Rigaku Holdings Corporation engages in the manufacture and sale of scientific equipment in Japan, the United States, Europe, and Asia. The company offers multipurpose analytical instruments, such as X-ray diffraction equipment, X-ray fluorescence,...
How the Company Makes Money
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Rigaku Holdings Corporation Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
58
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 93.03B | 94.19B | 90.65B | 79.89B | 62.70B |
| Gross Profit | 51.84B | 52.88B | 55.30B | 46.68B | 37.81B |
| EBITDA | 19.62B | 22.24B | 23.60B | 19.88B | 10.28B |
| Net Income | 9.26B | 11.40B | 13.62B | 10.90B | 911.00M |
Balance Sheet | |||||
| Total Assets | 187.65B | 1.18B | 1.13B | 1.17B | 1.15B |
| Cash, Cash Equivalents and Short-Term Investments | 27.25B | 154.90M | 178.03M | 146.69M | 111.25M |
| Total Debt | 66.93B | 396.68M | 391.78M | 443.73M | 487.90M |
| Total Liabilities | 98.45B | 617.76M | 609.15M | 698.90M | 736.05M |
| Stockholders Equity | 89.19B | 564.05M | 520.05M | 467.13M | 408.97M |
Cash Flow | |||||
| Free Cash Flow | 642.47M | 2.73B | 8.24B | 8.90B | 4.64B |
| Operating Cash Flow | 5.41B | 9.39B | 14.60B | 11.72B | 7.36B |
| Investing Cash Flow | -5.62B | -6.63B | -6.05B | -2.36B | -2.60B |
| Financing Cash Flow | -3.69B | -6.59B | -2.44B | -4.02B | -3.63B |
Rigaku Holdings Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥92.50B | 15.27 | ― | 3.12% | 8.67% | 11.23% | |
80 Outperform | ¥161.71B | 22.10 | ― | 3.23% | 12.39% | 22.44% | |
72 Outperform | ¥428.64B | 19.53 | ― | 1.61% | -8.82% | 18.33% | |
72 Outperform | ¥77.53B | 14.06 | ― | 1.90% | 2.11% | -19.76% | |
64 Neutral | ¥478.86B | 31.84 | 9.23% | 1.00% | 13.52% | 61.58% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ¥440.80B | 47.79 | ― | 0.97% | 4.93% | -15.59% |
* Technology Sector Average
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Rigaku Holdings Corporation Corporate Events
Rigaku Holdings Posts Weaker First-Half Earnings but Reaffirms 2026 Outlook
Aug 7, 2026
Rigaku Holdings Corporation reported consolidated revenue of ¥39.57 billion for the six months ended June 30, 2026, down 2.9% year on year, with operating profit dropping 54.9% to ¥2.58 billion and profit attributable to owners of the pa...
Rigaku Highlights Risk Factors and Non-IFRS Use in FY26 2Q/1H Earnings Materials
Aug 7, 2026
Rigaku Holdings Corporation has released its FY26 second-quarter and first-half earnings presentation materials, emphasizing that the figures and operational data are based on current economic, regulatory and market conditions and may change witho...
Rigaku Sets Terms for ¥93 Billion Secondary Share Offering
Jun 1, 2026
Rigaku Holdings Corporation has set the terms for a large secondary offering of its common stock, totaling 29,580,300 shares split between a Japanese tranche and an international tranche, both underwritten and priced at 2,738 yen per share. The su...
Rigaku Launches Major Secondary Share Offering Ahead of Shareholder Shift
May 22, 2026
Rigaku Holdings Corporation has approved a large secondary offering of 29,580,300 existing common shares, all to be sold by shareholder Atom Investment, L.P., through simultaneous Japanese and international offerings to institutional and other inv...
Rigaku Holdings Q1 Profit Slumps but Full‑Year Outlook and Dividend Plan Held
May 13, 2026
Rigaku Holdings reported a sharp downturn in results for the quarter ended March 31, 2026, with revenue falling 13.0% year on year to ¥17.9 billion and operating profit plunging 77.8% to ¥630 million. Profit attributable to owners of the...
Rigaku Outlines FY26 1Q Metrics and Risk Caveats in Earnings Presentation
May 13, 2026
Rigaku Holdings Corporation released its FY26 first-quarter earnings presentation, emphasizing that the disclosed financial and operating data are primarily for informational purposes and are subject to change. The company highlighted that it has ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.