Tigers Polymer Corporation (4231) AI Stock Analysis

• Market Cap: ¥19.69B
• Dividend Yield: 5.21%
• Average Volume (3M): 33.51K
• Price to Earnings (P/E): 5.0
• Beta (1Y): 1.02
• Revenue Growth: 0.91%
• EPS Growth: 100.31%
• Country: JP
• Employees: 1,988
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 28.99
• Shares Outstanding: 20,111,597
• 10 Day Avg. Volume: 24,590
• 30 Day Avg. Volume: 33,506
• PEG Ratio: 0.33
• Price to Book (P/B): 0.32
• Price to Sales (P/S): 0.29
• P/FCF Ratio: 4.52
• 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: 69 Neutral
• Price Target: ¥1,071.00 ▲(8.73% Upside)

Tigers Polymer Corporation's overall stock score reflects strong financial performance and attractive valuation, which are offset by negative technical indicators. The company's robust financial health and low P/E ratio suggest potential for long-term value, but current market momentum is bearish, indicating short-term challenges.

Positive Factors

Balance Sheet Strength

Very high equity ratio and minimal debt provide durable financial flexibility. Low leverage reduces refinancing and interest-rate risks, enabling the firm to fund operations or opportunistic investments from equity and cash. Improved ROE shows better capital efficiency without raising leverage, supporting long-term stability.

Consistent Revenue and Profit Growth

Sustained top-line growth and steady gross and net margins indicate resilient demand and sound cost control in its specialty chemicals niche. This consistency supports predictable cash flows and planning for multi-quarter investment, facilitating gradual market share gains and long-term operational planning.

Efficient Cash Generation

Operating cash generation materially exceeds net income and FCF is near parity with earnings, showing core operations convert profits into cash. This underpins the company's ability to fund capex, dividends, and working capital from operations, reducing reliance on external financing over the medium term.

Negative Factors

Volatile Free Cash Flow Growth

A large drop in FCF growth signals volatility in cash available for reinvestment or distributions. Even with solid cash ratios, a material decline in FCF growth raises concerns about sustainability of investment, dividend policy, and the firm's buffer against cyclical downturns in chemicals demand.

Modest Profitability Margins

Margins are moderate for a specialty chemicals company, which limits internal funds for R&D, capacity expansion, or margin protection during raw material cost inflation. Modest operating and net margins reduce room to absorb input shocks and constrain long-term return-on-capital improvement.

Limited Strategic Catalysts

The absence of announced M&A, major partnerships, or product launches reduces visible structural drivers for accelerating growth. Over a multi-month horizon, lack of strategic initiatives can limit scaling opportunities and investor visibility into future growth levers, constraining longer-term momentum.

Tigers Polymer Corporation Business Overview & Revenue Model

Company Description

Tigers Polymer Corporation manufactures and sells rubber hose and industrial rubber products primarily to automotive, electrics, construction and housing, and industrial materials markets worldwide. It offers home appliance hoses for vacuum cleaners, washing machines, and air conditioners; and industrial hoses for use in general industrial, civil engineering and construction, residential, and other fields. The company also provides sheets for use in packing materials, cushioning materials, etc., as well as mats for entrances. In addition, it offers rubber and resin molded products. The company was formerly known as Tigers Rubber Inc. and changed its name to Tigers Polymer Corporation in June 1973. Tigers Polymer Corporation was founded in 1938 and is headquartered in Osaka, Japan.

How the Company Makes Money

Tigers Polymer Corporation generates revenue through the production and sale of its specialty polymer and rubber products. The company primarily earns income from direct sales to manufacturers in key industries such as automotive, where demand for high-quality, durable components is critical. Additionally, Tigers Polymer may engage in custom manufacturing projects, providing tailored solutions that meet specific client requirements. Strategic partnerships with other manufacturers and suppliers bolster its market presence and enable access to larger client bases. The company's focus on innovation and developing proprietary technologies also allows it to command premium pricing for its advanced materials, contributing to significant profit margins.

Tigers Polymer Corporation Financial Statement Overview

Summary

Tigers Polymer Corporation exhibits strong financial health, characterized by consistent revenue and profit growth, solid margins, a robust balance sheet with low leverage, and efficient cash flow management. The company is well-positioned in the Chemicals - Specialty industry, with good profitability and stability. However, the free cash flow growth rate's decline warrants attention for potential cash flow management improvements.

Income Statement

Tigers Polymer Corporation has demonstrated consistent revenue growth with a positive trajectory over the years, achieving a 3.1% growth in 2025. The gross profit margin is stable at approximately 20%, indicating efficient production processes. The net profit margin has improved to 6.9%, reflecting enhanced profitability. EBIT and EBITDA margins are also strong, at 5.7% and 12.8% respectively, showing good operational efficiency. Despite slight fluctuations in EBIT, overall profitability is robust.

Balance Sheet

The company's balance sheet is strong, with a healthy equity ratio of 72.3%, reflecting low financial leverage and a high level of financial stability. The debt-to-equity ratio is low at 0.06, indicating minimal reliance on external debt financing. Return on Equity (ROE) has improved to 7.7%, showcasing effective use of shareholder funds to generate profits. Overall, the company maintains a solid financial position with significant equity backing and low debt levels.

Cash Flow

Tigers Polymer Corporation's cash flow position is solid, with a free cash flow to net income ratio of 0.92 and an operating cash flow to net income ratio of 1.50, indicating efficient cash generation relative to profits. However, the free cash flow growth rate declined by 39.1% in 2025, suggesting some volatility in cash flow generation. Despite this, the overall cash flow metrics indicate a robust capacity to cover operational needs and investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	49.76B	49.34B	47.86B	45.29B	40.88B	36.59B
Gross Profit	10.20B	9.93B	9.86B	7.42B	7.29B	6.73B
EBITDA	6.07B	6.32B	7.20B	4.46B	4.45B	3.73B
Net Income	3.39B	3.38B	3.02B	816.45M	831.83M	769.47M
Balance Sheet
Total Assets	59.82B	61.13B	57.29B	51.43B	47.64B	43.88B
Cash, Cash Equivalents and Short-Term Investments	18.53B	20.58B	18.19B	13.41B	11.45B	11.29B
Total Debt	3.08B	2.80B	3.00B	3.20B	2.90B	3.11B
Total Liabilities	14.13B	14.16B	15.01B	14.48B	13.95B	12.30B
Stockholders Equity	42.96B	44.18B	39.93B	34.90B	32.02B	30.15B
Cash Flow
Free Cash Flow	0.00	3.11B	5.10B	1.28B	351.74M	5.87M
Operating Cash Flow	0.00	5.07B	7.71B	3.15B	2.61B	2.84B
Investing Cash Flow	0.00	-3.79B	-3.62B	-2.30B	-2.13B	-2.82B
Financing Cash Flow	0.00	-1.54B	-913.69M	-168.84M	-718.90M	539.32M

Tigers Polymer Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 985.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4231, the sentiment is Positive. The current price of 985 is below the 20-day moving average (MA) of 985.20, above the 50-day MA of 953.74, and above the 200-day MA of 896.86, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 54.06 is Neutral, neither overbought nor oversold. The STOCH value of 62.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4231.

Tigers Polymer Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4229	81 Outperform	¥32.74B	14.72	―	2.47%	3.53%	8.36%
4064	80 Outperform	¥26.45B	8.94	―	3.21%	9.61%	173.72%
4231	69 Neutral	¥19.69B	4.96	―	5.21%	0.91%	100.31%
4113	69 Neutral	¥15.59B	9.30	―	3.23%	13.09%	89.45%
4092	66 Neutral	¥29.79B	13.02	―	3.84%	-3.41%	-12.83%
4409	66 Neutral	¥15.95B	13.72	―	2.78%	1.30%	-5.03%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%