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MACNICA HOLDINGS INC.
(3132)
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Rating:71Outperform
Price Target:
¥3,860.00
▲(55.02% Upside)
Action:Upgraded
Date:05/12/26
The score is driven primarily by solid overall financial quality (moderate leverage and growing equity) but held back by cyclicality and uneven cash flow. Technicals are bullish with strong momentum, though indicators are stretched, while valuation is reasonably attractive with a mid-teens P/E and a ~2.3% dividend yield.
Positive Factors
Balance-sheet strength
Sustained equity growth and conservative leverage (~0.23–0.35 D/E) provide long-term financial flexibility to fund working capital, pursue integrations or weather semiconductor cycles. A stronger capital base supports credit access and strategic investments without stressing liquidity.
Negative Factors
Profitability volatility
Large swings in net income reflect margin sensitivity to product mix and pricing in semiconductors. Persistent earnings volatility undermines forecasting, raises risk for capital allocation, and can limit consistent free cash flow generation needed for long-term strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Sustained equity growth and conservative leverage (~0.23–0.35 D/E) provide long-term financial flexibility to fund working capital, pursue integrations or weather semiconductor cycles. A stronger capital base supports credit access and strategic investments without stressing liquidity.
Read all positive factors
MACNICA HOLDINGS INC. (3132) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥570.60B
Dividend Yield2.87%
Average Volume (3M)472.63K
Price to Earnings (P/E)20.6
Beta (1Y)1.19
Revenue Growth17.41%
EPS Growth10.45%
CountryJP
Employees5,261
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)155.52
Shares Outstanding179,072,140
10 Day Avg. Volume526,880
30 Day Avg. Volume472,633
Financial Highlights & Ratios
PEG Ratio1.43
Price to Book (P/B)1.48
Price to Sales (P/S)0.34
P/FCF Ratio23.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)193.8
Revenue Forecast (FY)¥1.31T
MACNICA HOLDINGS INC. Business Overview & Revenue Model
Company Description
Macnica Fuji Electronics Holdings, Inc., operating through its subsidiaries, serves as a global distributor of electronic components, specifically offering semiconductor devices and integrated circuits (ICs). Established in 2015, the company's mai...
How the Company Makes Money
The company primarily makes money through its operating subsidiaries by earning gross profit on the distribution (resale) of semiconductors, electronic components, and related products, typically purchasing from upstream manufacturers and selling ...
MACNICA HOLDINGS INC. Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.21T | 1.03T | 1.03T | 1.03T | 761.82B |
| Gross Profit | 130.44B | 121.25B | 129.62B | 125.90B | 90.72B |
| EBITDA | 45.61B | 43.29B | 71.77B | 64.14B | 40.77B |
| Net Income | 27.77B | 25.28B | 48.07B | 41.03B | 25.80B |
Balance Sheet | |||||
| Total Assets | 700.89B | 556.44B | 552.24B | 517.62B | 362.58B |
| Cash, Cash Equivalents and Short-Term Investments | 54.39B | 48.53B | 38.71B | 37.57B | 25.17B |
| Total Debt | 77.49B | 75.92B | 64.86B | 55.32B | 59.16B |
| Total Liabilities | 411.77B | 294.96B | 295.82B | 309.86B | 182.82B |
| Stockholders Equity | 278.93B | 252.41B | 244.31B | 199.79B | 170.13B |
Cash Flow | |||||
| Free Cash Flow | 17.36B | 22.57B | 38.58B | 37.90B | -16.47B |
| Operating Cash Flow | 18.77B | 24.23B | 39.95B | 38.90B | -15.53B |
| Investing Cash Flow | -1.31B | -7.96B | -18.46B | -869.00M | -1.65B |
| Financing Cash Flow | -15.16B | -5.84B | -23.01B | -27.10B | 14.37B |
MACNICA HOLDINGS INC. Technical Analysis
Positive
2490.00
Price Trends
3221.94
Positive
2822.51
Positive
2568.35
Positive
Market Momentum
25.95
Negative
53.34
Neutral
74.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3132, the sentiment is Positive. The current price of 2490 is below the 20-day moving average (MA) of 3241.70, below the 50-day MA of 3221.94, and below the 200-day MA of 2568.35, indicating a bullish trend. The MACD of 25.95 indicates Negative momentum. The RSI at 53.34 is Neutral, neither overbought nor oversold. The STOCH value of 74.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3132.
MACNICA HOLDINGS INC. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ¥69.99B | 12.37 | ― | 2.87% | 50.78% | 26.58% | |
73 Outperform | ¥77.89B | 15.48 | 5.37% | 3.41% | -1.40% | 13.90% | |
71 Outperform | ¥570.60B | 20.58 | ― | 2.87% | 17.41% | 10.45% | |
62 Neutral | ¥102.83B | 10.27 | ― | 2.41% | 50.28% | 79.23% | |
62 Neutral | ¥163.01B | 24.09 | ― | 2.45% | 2.92% | -19.54% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | ¥378.38B | 22.05 | 5.77% | 3.28% | 5.30% | -4.93% |
* Technology Sector Average
JP:3132
MACNICA HOLDINGS INC.
3,201.00
1,309.87
69.26%
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MACNICA HOLDINGS INC. Corporate Events
MACNICA HOLDINGS Lifts Sales and Earnings, Strengthens Balance Sheet
May 11, 2026
MACNICA HOLDINGS reported consolidated net sales of ¥1,214.2 billion for the year ended March 31, 2025, up 17.4% year on year, with gross profit and operating income also increasing despite a margin squeeze. Net income attributable to owners ...
Macnica Restructures Segments to Clarify Semiconductor, Cybersecurity and CPS Strategy
May 11, 2026
Macnica Holdings has restructured its business segment classifications for its FY2025 financial presentation, redefining its ICs, Electronic Devices and Other Business as the Semiconductor Business and renaming the Network Business as the Cybersec...
Macnica Holdings Lifts Sales and Profit, Projects Further Growth in FY2027
May 11, 2026
Macnica Holdings reported consolidated net sales of ¥1.21 trillion for the fiscal year ended March 31, 2026, up 17.4% year on year, with operating income rising 5.8% to ¥41.95 billion and net income attributable to owners of the parent i...
Macnica Details AI, Memory, and Cybersecurity Outlook in Q3 Investor Q&A
Apr 13, 2026
Macnica Holdings has addressed key investor questions for the third quarter of fiscal 2025, explaining that revenue exceeded guidance on strong AI server and data center-related semiconductor demand and new overseas channels, while operating profi...
Macnica Holdings Confirms Board Reappointments and Governance Continuity
Mar 30, 2026
Macnica Holdings, Inc. has announced changes to its board structure, resolving at its March 30, 2026 board meeting to nominate eight director candidates, excluding Audit and Supervisory Committee members, for approval at the 11th Annual General Me...
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.