Eiken Chemical Co., Ltd. (JP:4549)
:4549
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Eiken Chemical Co., Ltd.
(4549)
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Rating:55Neutral
Price Target:
¥2,952.00
▲(22.64% Upside)
Action:Reiterated
Date:05/13/26
The score is held back mainly by deteriorating cash-flow quality (negative free cash flow in 2026) and materially compressed margins versus earlier years, despite a strong, low-leverage balance sheet. Technical indicators also lean bearish (below key moving averages with negative MACD). Valuation is not especially supportive given the ~27x P/E, with only a modest ~2% dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a large equity cushion provide durable financial flexibility, allowing the company to fund R&D, capital equipment placements, or absorb cyclical shocks without relying heavily on external financing. This stability supports long-term investment and optionality.
Negative Factors
Negative free cash flow
A shift to negative free cash flow signals weaker cash conversion and potential working-capital strain or elevated investment spending. Sustained negative FCF limits internal funding for dividends, R&D and capex, increasing reliance on reserves or external financing over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a large equity cushion provide durable financial flexibility, allowing the company to fund R&D, capital equipment placements, or absorb cyclical shocks without relying heavily on external financing. This stability supports long-term investment and optionality.
Read all positive factors
Eiken Chemical Co., Ltd. (4549) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥96.14B
Dividend Yield2.31%
Average Volume (3M)72.32K
Price to Earnings (P/E)27.2
Beta (1Y)0.63
Revenue Growth3.35%
EPS Growth74.40%
CountryJP
Employees757
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)68.66
Shares Outstanding34,541,440
10 Day Avg. Volume81,940
30 Day Avg. Volume72,320
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)2.29
Price to Sales (P/S)2.40
P/FCF Ratio-58.51
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)91.9
Revenue Forecast (FY)¥43.56B
Eiken Chemical Co., Ltd. Business Overview & Revenue Model
Company Description
Eiken Chemical Co., Ltd. manufactures and sells clinical diagnostics and equipment in Japan. The company is involved in developing clinical diagnostic aids to various aspects of contemporary medicine, including biochemical, immunological, serologi...
How the Company Makes Money
Eiken Chemical primarily makes money by selling in-vitro diagnostic products and associated consumables used in routine and specialized clinical testing. The core of its revenue model is recurring sales of diagnostic reagents/test kits (which are ...
Eiken Chemical Co., Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
80
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.22B | 41.90B | 40.54B | 40.05B | 43.27B | 43.00B |
| Gross Profit | 16.66B | 16.18B | 16.51B | 16.72B | 20.51B | 20.57B |
| EBITDA | 6.86B | 5.46B | 5.56B | 5.84B | 9.73B | 10.55B |
| Net Income | 2.34B | 3.71B | 2.23B | 2.63B | 5.74B | 6.22B |
Balance Sheet | ||||||
| Total Assets | 59.50B | 62.66B | 62.97B | 62.25B | 66.76B | 63.02B |
| Cash, Cash Equivalents and Short-Term Investments | 4.67B | 10.94B | 9.87B | 16.31B | 18.32B | 16.12B |
| Total Debt | 3.00B | 7.29B | 4.47B | 4.33B | 4.31B | 4.19B |
| Total Liabilities | 17.74B | 18.62B | 19.37B | 16.28B | 17.22B | 17.22B |
| Stockholders Equity | 41.75B | 44.03B | 43.60B | 45.97B | 49.53B | 45.80B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.72B | 812.00M | 1.72B | 4.30B | 2.88B |
| Operating Cash Flow | 0.00 | 4.04B | 6.03B | 3.81B | 7.58B | 7.77B |
| Investing Cash Flow | 0.00 | -3.42B | -4.50B | -2.22B | -316.00M | -5.04B |
| Financing Cash Flow | 0.00 | -322.00M | -4.86B | -6.69B | -2.10B | 1.20B |
Eiken Chemical Co., Ltd. Technical Analysis
Neutral
2407.00
Price Trends
3065.79
Negative
2809.09
Positive
2578.14
Positive
Market Momentum
-70.89
Positive
41.11
Neutral
31.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4549, the sentiment is Neutral. The current price of 2407 is below the 20-day moving average (MA) of 3014.90, below the 50-day MA of 3065.79, and below the 200-day MA of 2578.14, indicating a neutral trend. The MACD of -70.89 indicates Positive momentum. The RSI at 41.11 is Neutral, neither overbought nor oversold. The STOCH value of 31.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4549.
Eiken Chemical Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ¥43.53B | 7.62 | ― | 2.93% | 2.24% | 16.89% | |
78 Outperform | ¥17.91B | 15.06 | ― | 3.02% | 13.43% | 7.06% | |
61 Neutral | ¥249.58B | 16.30 | ― | 1.92% | 4.29% | 3.92% | |
55 Neutral | ¥96.14B | 27.16 | ― | 2.31% | 3.35% | 74.40% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | ¥130.02B | 279.88 | 2.42% | 3.73% | 0.78% | -95.37% |
* Healthcare Sector Average
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Eiken Chemical Co., Ltd. Corporate Events
Eiken Chemical Board Rejects Activist’s Bid to Add Two Directors
May 12, 2026
Eiken Chemical has received a shareholder proposal from activist investor Nippon Active Value Fund to appoint two new directors at its June 23 annual general meeting. After reviewing the proposal, the board has formally resolved to oppose the elec...
Eiken Chemical Resets Strategy With New Management Plan 2030
May 12, 2026
Eiken Chemical has overhauled its long-term management framework, replacing its previous road map and second medium-term plan with a newly formulated “Management Plan 2030” covering fiscal 2026 to fiscal 2030. The move follows the esta...
Eiken Chemical Announces Retirement of Representative Executive Officer Chairman
May 12, 2026
Eiken Chemical Co., Ltd. has announced a leadership change, with Director and Representative Executive Officer Chairman Tsugunori Notomi set to retire at the end of his term. The decision was approved by the board and will be formally confirmed at...
Eiken Chemical refreshes board slate with CFO appointment as director and chairman’s retirement
May 12, 2026
Eiken Chemical has nominated a slate of directors for approval at its 88th annual general shareholders’ meeting on June 23, 2026, including the reappointment of President and CEO Yuji Segawa and several outside directors who meet the Tokyo S...
Eiken Chemical Recasts Long-Term Strategy with New Management Plan 2030
May 12, 2026
Eiken Chemical has reviewed its existing EIKEN ROAD MAP 2030 and medium-term plan under the executive structure established in 2025, and has reformulated them into a unified “Management Plan 2030” aimed at achieving its EIKEN Vision 20...
Eiken Chemical lifts EPS and dividend despite profit squeeze
May 12, 2026
Eiken Chemical reported fiscal 2026 net sales of ¥41.9 billion, up 3.4% year on year, with operating profit down 2.7% to ¥2.9 billion and ordinary profit falling 11.1%. Profit attributable to owners of the parent, however, jumped 66.5% t...
Eiken Chemical Overhauls Governance With New C-Suite Structure
Feb 26, 2026
Eiken Chemical will introduce a formal C-suite structure on April 1, 2026, creating roles including CEO, COO, CMSO, CTO, CPO, CFO, and CHRO to place domain experts at the center of core business functions. The company expects this governance shift...
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.