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Pack Corporation
(3950)
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Rating:78Outperform
Price Target:
¥1,654.00
▲(28.52% Upside)
Action:Reiterated
Date:08/07/26
The score is driven primarily by strong financial fundamentals—especially the exceptionally low leverage and solid multi-year growth—tempered by inconsistent cash-flow conversion. Technicals add support with a clear uptrend above major moving averages, while valuation is reasonable with a mid-teens P/E and ~2.7% yield.
Positive Factors
Very conservative balance sheet
Near-zero leverage gives Pack durable financial flexibility: it can absorb demand shocks, finance capex or share returns without relying on borrowing, and preserve investment optionality. This conservatism supports long-term stability and lowers refinancing risk across cycles.
Negative Factors
Uneven free-cash-flow conversion
Volatile FCF — including a negative year in 2023 and FCF at ~59% of net income in 2025 and ~33% in 2024 — signals working-capital swings or capex timing that weaken predictability of cash available for dividends, buybacks, or reinvestment over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Very conservative balance sheet
Near-zero leverage gives Pack durable financial flexibility: it can absorb demand shocks, finance capex or share returns without relying on borrowing, and preserve investment optionality. This conservatism supports long-term stability and lowers refinancing risk across cycles.
Read all positive factors
Pack Corporation (3950) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥85.31B
Dividend Yield2.69%
Average Volume (3M)96.67K
Price to Earnings (P/E)13.8
Beta (1Y)0.48
Revenue Growth2.45%
EPS Growth1.87%
CountryJP
Employees1,223
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)105.02
Shares Outstanding59,700,000
10 Day Avg. Volume87,040
30 Day Avg. Volume96,670
Financial Highlights & Ratios
PEG Ratio-3.29
Price to Book (P/B)0.94
Price to Sales (P/S)0.70
P/FCF Ratio17.85
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)N/A
Revenue Forecast (FY)N/A
Pack Corporation Business Overview & Revenue Model
Company Description
Established in 1878 and headquartered in Osaka, Japan, The Pack Corporation is a global provider specializing in a broad spectrum of packaging solutions. Their extensive product line includes various bags, such as paper, plastic, parcel, sewn, and...
Pack Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 104.21B | 103.13B | 101.46B | 97.71B | 89.06B | 79.69B |
| Gross Profit | 24.98B | 25.45B | 25.03B | 24.30B | 21.25B | 18.63B |
| EBITDA | 10.16B | 10.16B | 10.43B | 9.83B | 7.96B | 6.17B |
| Net Income | 5.89B | 6.02B | 6.32B | 5.65B | 4.06B | 2.82B |
Balance Sheet | ||||||
| Total Assets | 96.44B | 104.21B | 103.29B | 98.85B | 94.36B | 87.42B |
| Cash, Cash Equivalents and Short-Term Investments | 23.86B | 26.06B | 23.67B | 24.42B | 28.66B | 27.08B |
| Total Debt | 425.00M | 462.00M | 116.00M | 68.00M | 136.00M | 210.00M |
| Total Liabilities | 19.64B | 27.21B | 28.80B | 27.69B | 28.99B | 25.39B |
| Stockholders Equity | 76.80B | 77.00B | 74.48B | 71.16B | 65.37B | 62.02B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 4.07B | 2.33B | -1.14B | 2.27B | 4.00B |
| Operating Cash Flow | 0.00 | 6.86B | 7.10B | 4.44B | 5.38B | 7.22B |
| Investing Cash Flow | 0.00 | 3.51B | -5.44B | -3.96B | -3.76B | -3.46B |
| Financing Cash Flow | 0.00 | -3.55B | -3.04B | -1.41B | -1.12B | -1.03B |
Pack Corporation Technical Analysis
Positive
1287.00
Price Trends
1353.57
Positive
1334.61
Positive
1292.03
Positive
Market Momentum
29.12
Positive
60.25
Neutral
56.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3950, the sentiment is Positive. The current price of 1287 is below the 20-day moving average (MA) of 1428.70, below the 50-day MA of 1353.57, and below the 200-day MA of 1292.03, indicating a bullish trend. The MACD of 29.12 indicates Positive momentum. The RSI at 60.25 is Neutral, neither overbought nor oversold. The STOCH value of 56.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3950.
Pack Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥85.31B | 13.82 | ― | 6.64% | 2.45% | 1.87% | |
76 Outperform | ¥165.62B | 7.81 | 13.57% | 2.68% | 2.55% | 72.27% | |
76 Outperform | ¥547.98B | 11.27 | 8.24% | 3.18% | 4.41% | 176.13% | |
72 Outperform | ¥62.32B | 8.19 | ― | 3.31% | 6.94% | 58.58% | |
67 Neutral | ¥11.01B | 12.32 | ― | 4.20% | -1.42% | 16.56% | |
63 Neutral | ¥104.25B | 12.78 | 8.27% | 3.01% | 5.17% | 20.72% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
* Consumer Cyclical Sector Average
JP:3950
Pack Corporation
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65.18%
Pack Corporation Corporate Events
THE PACK CORPORATION Advances Share Buyback Programme on Tokyo Exchange
Aug 4, 2026
THE PACK CORPORATION has been actively repurchasing its own common shares as part of a board-approved share buyback program, signaling efforts to optimize its capital structure and potentially enhance shareholder value. The latest transactions, co...
The Pack Corporation Advances Share Buyback Under 2026 Treasury Stock Program
Jul 6, 2026
The Pack Corporation has been actively implementing a share repurchase program authorized by its board of directors in February 2026. The initiative is carried out through market purchases on the Tokyo Stock Exchange, including the ToSTNet-3 platf...
The Pack Corporation Invests ¥3.6 Billion in New Nara Factory Site for Automation Push
Jun 30, 2026
The Pack Corporation has acquired a new factory site in Shinjo-cho, Yamato-Koriyama City, Nara Prefecture, to rebuild and modernize its aging Nara plant, which has been in operation for more than 50 years. The land, measuring 65,110.52 square mete...
The Pack Corporation Updates Progress on Share Buyback Program
Jun 1, 2026
The Pack Corporation reported on the progress of its authorized share buyback program, confirming that it repurchased 138,900 shares of its common stock on the Tokyo Stock Exchange between May 1 and May 31, 2026. The total purchase price amounted ...
The Pack Corp posts higher sales but weaker profit in Q1 2026
May 15, 2026
The Pack Corporation reported consolidated net sales of ¥24.04 billion for the three months to March 31, 2026, up 4.7% year on year, while operating profit edged down 1.1% and profit attributable to owners of parent fell 13.1%, reflecting mar...
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.