SUMCO Corporation (JP:3436)
:3436
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SUMCO Corporation
(3436)
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Rating:52Neutral
Price Target:
¥3,050.00
▲(45.58% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weaker fundamentals (net loss, pressured margins, and persistently negative free cash flow) and cautious near-term guidance indicating continued losses. Technicals support the stock in the short run with strong trend momentum, but extreme overbought readings increase pullback risk. Valuation is also a headwind due to loss-making earnings and a low dividend yield, partly offset by strong operating cash flow and CapEx reduction highlighted on the earnings call.
Positive Factors
Operating cash flow strength
Consistent, large operating cash flow (JPY100bn) provides durable liquidity to fund operations, pay a modest dividend and manage working capital through the downcycle. Over 2–6 months this cash cushion supports supply continuity and strategic flexibility despite headline losses.
Negative Factors
Profitability deterioration
The shift to a net loss and negative operating results weakens internal earnings capacity and reduces retained earnings. Persistently compressed margins and reported losses constrain reinvestment and make results more sensitive to cyclical demand swings over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating cash flow strength
Consistent, large operating cash flow (JPY100bn) provides durable liquidity to fund operations, pay a modest dividend and manage working capital through the downcycle. Over 2–6 months this cash cushion supports supply continuity and strategic flexibility despite headline losses.
Read all positive factors
SUMCO Corporation (3436) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.06T
Dividend Yield1.14%
Average Volume (3M)7.63M
Price to Earnings (P/E)―
Beta (1Y)1.56
Revenue Growth0.75%
EPS Growth-230.21%
CountryJP
Employees9,850
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)29.58
Shares Outstanding350,175,140
10 Day Avg. Volume5,665,710
30 Day Avg. Volume7,626,399
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)0.87
Price to Sales (P/S)1.22
P/FCF Ratio-45.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,315.00Price Target Upside10.50% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-47.34
Revenue Forecast (FY)¥422.10B
SUMCO Corporation Business Overview & Revenue Model
Company Description
Sumco Corporation, together with its subsidiaries, manufactures and sells silicon wafers for the semiconductor industry primarily in Japan, the United States, China, Taiwan, Korea, and internationally. It provides monocrystalline ingots, as well a...
How the Company Makes Money
SUMCO makes money primarily by manufacturing and selling semiconductor silicon wafers to chip manufacturers and foundries. Its main revenue stream is product sales of silicon wafers (including standard and advanced/premium wafers differentiated by...
SUMCO Corporation Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Neutral
Balanced/Neutral — The company showed clear strengths (positive operating cash flow of JPY 100.0 billion, reduced CapEx, Q4 sales beat and a full‑year operating profit of JPY 1.3 billion) and constructive medium‑term demand signals from AI driving DRAM and NAND requirements and 300‑mm recovery. However, near‑term challenges are material: Q4 and Q1 operating losses, a full‑year net loss (JPY 11.7 billion), a substantial depreciation burden (JPY 115.6 billion), structural decline in 200‑mm, elevated legacy inventory and pricing pressure on commodity wafers. Management expects demand recovery for leading edge later in the year, but immediate headwinds and inventory normalization keep the outlook cautious.Positive Updates
Full-Year Revenue and Operating Profit (In the Black on OP)
Full-year sales of JPY 409.6 billion and operating profit of JPY 1.3 billion (company stayed in the black on an operating-profit basis for fiscal 2025). EBITDA was JPY 112.4 billion, largely unchanged year-on-year.
Negative Updates
Q4 and Quarterly Profitability Pressure
Q4 operating profit was negative (operating loss reported at JPY 4.5 billion; operating loss widened Q-on-Q). Q4 ordinary loss was JPY 5.9 billion and profit attributable to owners was a net loss of JPY 10.8 billion.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and Operating Profit (In the Black on OP)
Full-year sales of JPY 409.6 billion and operating profit of JPY 1.3 billion (company stayed in the black on an operating-profit basis for fiscal 2025). EBITDA was JPY 112.4 billion, largely unchanged year-on-year.
Read all positive updates
Company Guidance
Guidance for Q1 FY2026: sales JPY100.0bn, operating loss JPY6.0bn, ordinary loss JPY10.0bn and net loss attributable JPY10.0bn, with a forex assumption of JPY155/USD; management expects the operating loss to widen by JPY1.5bn Q‑on‑Q due mainly to periodic plant maintenance and one‑off maintenance expenses, partly offset by a Q‑on‑Q decline in depreciation of JPY4.3bn. For context, FY2025 results were: sales JPY409.6bn, operating profit JPY1.3bn, ordinary loss JPY3.8bn and net loss JPY11.7bn; Q4 sales JPY105.2bn (up JPY6.1bn Q‑on‑Q and ~JPY5.0bn above guidance), Q4 operating loss JPY4.5bn, ordinary loss JPY5.9bn and net loss JPY10.8bn. Other key metrics: full‑year CapEx JPY79.9bn (vs JPY214.9bn in 2024), depreciation JPY115.6bn (up JPY36.7bn YoY; Q4 depreciation JPY35.6bn), EBITDA JPY112.4bn, operating cash flow +JPY100.0bn, investing cash flow −JPY111.4bn, free cash flow −JPY11.4bn, cash and deposits down JPY20.4bn, total assets JPY1,127.9bn, liabilities JPY480.2bn, retained earnings down JPY17.4bn, equity‑to‑asset ratio 51.3% and gross D/E 0.61x.SUMCO Corporation Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
62
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 403.72B | 409.67B | 396.62B | 425.94B | 441.08B | 335.67B |
| Gross Profit | 71.86B | 54.50B | 72.73B | 108.25B | 143.35B | 80.12B |
| EBITDA | 100.88B | 114.51B | 113.25B | 165.43B | 172.00B | 104.75B |
| Net Income | 10.34B | -11.75B | 19.88B | 63.88B | 70.20B | 41.12B |
Balance Sheet | ||||||
| Total Assets | 1.16T | 1.13T | 1.17T | 1.07T | 892.55B | 764.88B |
| Cash, Cash Equivalents and Short-Term Investments | 80.91B | 75.30B | 95.67B | 156.35B | 259.31B | 224.67B |
| Total Debt | 364.52B | 353.71B | 353.95B | 224.45B | 141.38B | 141.07B |
| Total Liabilities | 505.89B | 480.18B | 515.44B | 437.56B | 301.07B | 242.03B |
| Stockholders Equity | 589.54B | 578.38B | 592.12B | 572.16B | 533.55B | 476.15B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -10.99B | -177.62B | -160.57B | 54.01B | 36.92B |
| Operating Cash Flow | 0.00 | 100.04B | 69.63B | 96.34B | 179.46B | 104.71B |
| Investing Cash Flow | 0.00 | -111.45B | -247.88B | -247.68B | -126.35B | -67.34B |
| Financing Cash Flow | 0.00 | -8.73B | 112.29B | 43.46B | -23.15B | 99.10B |
SUMCO Corporation Technical Analysis
Positive
2095.00
Price Trends
2191.42
Positive
1876.99
Positive
1622.94
Positive
Market Momentum
307.50
Positive
59.00
Neutral
20.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3436, the sentiment is Positive. The current price of 2095 is below the 20-day moving average (MA) of 2789.55, below the 50-day MA of 2191.42, and above the 200-day MA of 1622.94, indicating a bullish trend. The MACD of 307.50 indicates Positive momentum. The RSI at 59.00 is Neutral, neither overbought nor oversold. The STOCH value of 20.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3436.
SUMCO Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥1.97T | 18.37 | 21.73% | 2.29% | -3.12% | -4.90% | |
80 Outperform | ¥6.65T | 38.72 | 25.78% | 0.79% | 11.08% | 9.32% | |
79 Outperform | ¥20.96T | 19.86 | 26.01% | 1.79% | 0.49% | 6.10% | |
73 Outperform | ¥641.77B | 21.65 | 12.66% | 2.28% | 10.83% | -3.75% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | ¥443.11B | 19.76 | 5.77% | 3.28% | 5.30% | -4.93% | |
52 Neutral | ¥1.06T | -17.13 | ― | 1.14% | 0.75% | -230.21% |
* Technology Sector Average
JP:3436
SUMCO Corporation
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SUMCO Corporation Corporate Events
SUMCO Sets Interim 2026 Dividend at 10 Yen, Keeps Year-End Payout Undecided
May 12, 2026
SUMCO Corporation has set its previously undecided interim dividend for the fiscal year ending December 31, 2026 at 10 yen per share, aligning it with the prior year’s interim payout. The board reached this decision after weighing first-half...
SUMCO Swings to Quarterly Loss and Cuts First-Half Outlook Amid Semiconductor Headwinds
May 12, 2026
SUMCO reported first-quarter 2026 consolidated net sales of ¥101.4 billion, down 1.0% year on year, and swung to an operating loss of ¥5.3 billion and a net loss of ¥8.5 billion amid deteriorating profitability. Total assets stood a...
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.