ALCONIX Corporation (3036) AI Stock Analysis

• Market Cap: ¥94.38B
• Dividend Yield: 2.98%
• Average Volume (3M): 81.78K
• Price to Earnings (P/E): 15.2
• Beta (1Y): 0.73
• Revenue Growth: 8.89%
• EPS Growth: 102.20%
• Country: JP
• Employees: 3,227
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 79.03
• Shares Outstanding: 31,107,700
• 10 Day Avg. Volume: 79,200
• 30 Day Avg. Volume: 81,776
• PEG Ratio: 0.05
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 0.24
• P/FCF Ratio: 100.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ¥3,488.00 ▲(38.58% Upside)
• Action: Downgraded Date: 02/13/26
• Date: Action: Downgraded 02/13/26

The score is driven primarily by solid financial performance (revenue growth and improved profitability) but moderated by the sharp decline in operating cash flow. Technicals are supportive due to a strong uptrend, though overbought indicators add near-term risk. Valuation appears reasonable with a moderate P/E and a supportive dividend yield.

Positive Factors

Revenue growth & improving profitability

Sustained top-line growth combined with rising gross and net margins indicates durable demand and better cost control. Over the next 2-6 months this supports stronger internal cash generation, higher reinvestment capacity, and a more resilient earnings base versus peers with stagnant revenues.

Moderate leverage with improving ROE

A moderate debt profile alongside rising ROE suggests efficient capital use without excessive financial risk. This balance preserves strategic flexibility for capex or M&A, limits refinancing pressure, and supports sustainable shareholder returns under typical market conditions.

Positive free cash flow for reinvestment

Positive free cash flow provides a durable funding source for capital expenditures, maintenance, and shareholder distributions even if operating cash flow fluctuates. This supports long-term investment plans and reduces reliance on external financing in normal operating environments.

Negative Factors

Sharp decline in operating cash flow

A marked drop in operating cash flow signals weaker cash conversion from core operations or rising working capital needs. Persisting weakness can constrain growth spending, force external financing, or pressure liquidity cushions, making earnings less reliable despite reported profit.

Slightly lower equity ratio (higher leverage risk)

A falling equity ratio indicates incremental leverage growth that, if continued, reduces balance-sheet resilience. Over several months higher leverage increases sensitivity to interest-rate moves or demand shocks and narrows room for opportunistic investment or dividend support.

Volatility in EBIT/EBITDA margins

Inconsistent operating margins point to variable cost control or pricing challenges across cycles. This volatility weakens earnings predictability, complicates capital allocation and budgeting, and can amplify downturn effects on profitability over the medium term.

ALCONIX Corporation Business Overview & Revenue Model

Company Description

ALCONIX Corporation imports, exports, and sells non-ferrous metal products or resources in Japan and internationally. The company is involved in the import, export, processing, and intermediate trading of rare metals and materials, such as tungsten, tantalum, titanium, molybdenum, rare earth and other rare metals, tin, nickel, and other LME metals, as well as scrapping of rare and noble metals. It also offers copper tubes and tanks for water supply/drains, heat exchangers, refrigerant, heating oil, and gas materials and equipment; aluminum coils and other aluminum products; plastic tubes; freon gas and other industrial gases; electronic materials for semiconductors; copper and copper-base alloy products; aluminum and office finished products; copper bands and plates; aluminum and copper scraps; and stainless steel and plastic products. In addition, the company manufactures and sells copper anodes and cathodes, copper sulfate, oxygen-free copper wire, bus bars and copper chloride/nickel anodes, nickel sulfate and acetate, nickel bromide, nickel chloride/potassium cyanide, boric acid and sulfamate, and sulfamic acid compounds; welding materials; tools and devices for non-destructive inspection; printing and marking equipment; and carbon and powder metallurgy products, and electrical components and materials. Further, it provides semiconductor packaging machines; prototype parts for automobiles; industrial robots, and machining tools and parts; electromagnetic valve parts; heater core parts; machined metal parts; housing construction materials; solar power generation equipment; and various types of brackets. The company was formerly known as Nissho Iwai Alconix Corporation and changed its name to ALCONIX Corporation in April 2005. ALCONIX Corporation was founded in 1981 and is headquartered in Tokyo, Japan.

How the Company Makes Money

ALCONIX Corporation generates revenue primarily through the sale and distribution of non-ferrous metals and materials. Its key revenue streams come from direct sales to various industries, including electronics manufacturing, automotive production, and construction projects. The company also earns income from its recycling operations, which allow it to repurpose materials and sell them back into the market. Additionally, ALCONIX may engage in strategic partnerships with manufacturers and suppliers that expand its market reach and enhance its product offerings, contributing to its overall profitability.

ALCONIX Corporation Financial Statement Overview

Summary

Revenue growth and improving profitability support the score, and the balance sheet looks relatively stable with moderate leverage. Offsetting this, operating cash flow declined significantly, raising cash-generation and liquidity quality concerns despite positive free cash flow.

Income Statement

ALCONIX Corporation has shown strong revenue growth with a notable increase in Total Revenue from 2024 to 2025. The Gross Profit Margin improved slightly, indicating efficient cost management, while the Net Profit Margin increased significantly, reflecting enhanced profitability. However, fluctuations in EBIT and EBITDA margins suggest some volatility in operational efficiency.

Balance Sheet

The Debt-to-Equity Ratio remains moderate, indicating a balanced approach to leveraging debt and equity. The Return on Equity (ROE) has improved, showcasing better utilization of shareholder investments. However, the Equity Ratio has decreased slightly, suggesting a minor increase in leverage which could pose risks if not managed well.

Cash Flow

The significant decline in Operating Cash Flow from 2024 to 2025 is concerning, but Free Cash Flow remains positive, indicating sufficient cash generation for reinvestment. The Free Cash Flow to Net Income Ratio is healthy, yet the decline in Operating Cash Flow to Net Income Ratio highlights potential liquidity issues.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	203.66B	197.00B	174.90B	178.33B	156.29B	214.99B
Gross Profit	26.67B	25.69B	22.92B	25.08B	25.77B	18.57B
EBITDA	13.16B	13.29B	9.71B	14.00B	15.82B	9.54B
Net Income	4.78B	4.80B	1.60B	5.49B	7.51B	2.86B
Balance Sheet
Total Assets	195.82B	196.63B	182.89B	191.89B	176.44B	147.92B
Cash, Cash Equivalents and Short-Term Investments	20.77B	18.76B	21.47B	26.99B	26.69B	27.05B
Total Debt	54.27B	53.74B	55.20B	71.82B	61.80B	59.12B
Total Liabilities	127.18B	126.32B	116.54B	128.84B	119.11B	104.55B
Stockholders Equity	68.06B	69.70B	65.75B	62.52B	56.87B	42.85B
Cash Flow
Free Cash Flow	0.00	463.00M	11.77B	-4.56B	-7.59B	1.04B
Operating Cash Flow	0.00	7.00B	15.21B	226.00M	-3.33B	4.10B
Investing Cash Flow	0.00	-4.71B	-2.62B	-7.04B	-3.26B	-2.47B
Financing Cash Flow	0.00	-4.80B	-19.28B	5.90B	5.76B	2.85B

ALCONIX Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2517.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3036, the sentiment is Positive. The current price of 2517 is below the 20-day moving average (MA) of 2971.25, below the 50-day MA of 2790.90, and above the 200-day MA of 2214.58, indicating a bullish trend. The MACD of 104.00 indicates Negative momentum. The RSI at 65.80 is Neutral, neither overbought nor oversold. The STOCH value of 67.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3036.

ALCONIX Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5715	76 Outperform	¥207.75B	13.34	11.58%	1.62%	9.81%	30.20%
3036	68 Neutral	¥94.38B	15.19	―	2.98%	8.89%	102.20%
5713	68 Neutral	¥2.97T	30.81	1.33%	1.98%	3.15%	-63.65%
5711	66 Neutral	¥710.32B	33.38	2.14%	2.83%	-0.64%	-65.65%
5714	64 Neutral	¥630.13B	28.79	5.02%	2.12%	-7.98%	-42.51%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
5541	55 Neutral	¥56.17B	58.69	―	9.18%	-35.81%	-138.00%

ALCONIX Corporation Corporate Events

Alconix Lifts Nine-Month Profit 38% and Sticks to Higher Dividend, Full-Year Outlook

Alconix Corporation reported solid growth for the nine months ended Dec. 31, 2025, with net sales rising 7.5% year on year to ¥157.8 billion and profit attributable to owners of parent climbing 38.4% to ¥4.9 billion, reflecting strong operating leverage. The equity ratio remained broadly stable despite an increase in total assets, while earnings per share advanced to ¥164.90 as the company modestly reduced treasury shares and benefited from higher profitability.

The company kept its full-year forecast unchanged, projecting net sales of ¥215 billion and a 12.4% rise in full-year profit to ¥5.4 billion, and maintained its plan to lift the annual dividend to ¥84 per share. Alconix also expanded its consolidation scope by adding Nano Seeds Corporation, signaling ongoing portfolio development as it balances growth investments with higher shareholder returns in a supportive earnings environment.

The most recent analyst rating on (JP:3036) stock is a Buy with a Yen3126.00 price target. To see the full list of analyst forecasts on ALCONIX Corporation stock, see the JP:3036 Stock Forecast page.