Want to see JP:4631 full AI Analyst Report?
Top Page
DIC
(4631)
Select Model
Select Model
Rating:64Neutral
Price Target:
¥5,754.00
▲(28.64% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by improving profitability and cash flow, tempered by the steep 2025 revenue decline and still-elevated leverage. Valuation is a clear positive (low P/E with dividend support), while technical indicators are mixed and do not add strong momentum confirmation.
Positive Factors
Improved cash generation
The jump to ¥73.0B OCF and ¥31.3B free cash flow in 2025 indicates the company can convert earnings into cash at scale. Durable cash generation supports capital expenditure, dividends and debt paydown, giving management optionality to invest or shore up the balance sheet over coming quarters.
Negative Factors
Sharp 2025 revenue contraction
A steep top-line drop of ~31.6% is a structural concern because prolonged revenue weakness erodes operating leverage, compresses margins and limits the durability of profit and cash-flow improvements. Restoring sustainable growth is required to lock in recent financial gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
The jump to ¥73.0B OCF and ¥31.3B free cash flow in 2025 indicates the company can convert earnings into cash at scale. Durable cash generation supports capital expenditure, dividends and debt paydown, giving management optionality to invest or shore up the balance sheet over coming quarters.
Read all positive factors
DIC (4631) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥442.80B
Dividend Yield4.09%
Average Volume (3M)296.89K
Price to Earnings (P/E)11.2
Beta (1Y)0.89
Revenue Growth-0.45%
EPS Growth50.53%
CountryJP
Employees20,884
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)480.00
Shares Outstanding95,156,906
10 Day Avg. Volume328,600
30 Day Avg. Volume296,893
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.73
Price to Sales (P/S)0.33
P/FCF Ratio11.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥6,000.00Price Target Upside34.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)403.1
Revenue Forecast (FY)¥1.13T
DIC Business Overview & Revenue Model
Company Description
DIC Corporation operates as a global producer and distributor of printing inks, organic pigments, and advanced polyphenylene sulfide (PPS) compounds. Its extensive operations are organized into three principal segments: Packaging & Graphic, Color ...
How the Company Makes Money
null...
DIC Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.07T | 1.05T | 1.07T | 1.04T | 1.05T | 855.38B |
| Gross Profit | 239.03B | 227.97B | 222.20B | 186.38B | 199.22B | 177.32B |
| EBITDA | 128.04B | 112.94B | 100.09B | 37.90B | 88.48B | 72.34B |
| Net Income | 45.45B | 32.35B | 21.31B | -39.86B | 17.61B | 4.37B |
Balance Sheet | ||||||
| Total Assets | 1.30T | 1.27T | 1.23T | 1.24T | 1.26T | 1.07T |
| Cash, Cash Equivalents and Short-Term Investments | 85.02B | 68.91B | 61.87B | 87.53B | 63.38B | 38.25B |
| Total Debt | 455.93B | 458.27B | 484.33B | 528.96B | 509.33B | 384.21B |
| Total Liabilities | 801.69B | 783.25B | 805.82B | 845.62B | 840.55B | 690.47B |
| Stockholders Equity | 482.87B | 470.88B | 401.42B | 363.94B | 387.00B | 345.93B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 31.32B | 3.42B | 37.04B | -32.88B | 8.88B |
| Operating Cash Flow | 0.00 | 72.97B | 46.21B | 89.09B | 7.93B | 44.81B |
| Investing Cash Flow | 0.00 | -20.59B | -17.08B | -66.46B | -73.16B | -147.61B |
| Financing Cash Flow | 0.00 | -45.39B | -62.59B | -2.92B | 83.95B | 99.55B |
DIC Technical Analysis
Positive
4473.00
Price Trends
4745.66
Positive
4310.30
Positive
4013.14
Positive
Market Momentum
37.15
Negative
73.40
Negative
92.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4631, the sentiment is Positive. The current price of 4473 is below the 20-day moving average (MA) of 4554.15, below the 50-day MA of 4745.66, and above the 200-day MA of 4013.14, indicating a bullish trend. The MACD of 37.15 indicates Negative momentum. The RSI at 73.40 is Negative, neither overbought nor oversold. The STOCH value of 92.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4631.
DIC Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥113.67B | 10.56 | ― | 3.72% | 8.94% | 22.70% | |
74 Outperform | ¥2.93T | 14.62 | 11.39% | 1.32% | 16.22% | 34.06% | |
73 Outperform | ¥137.58B | 8.46 | 7.27% | 0.43% | 8.62% | 68.78% | |
73 Outperform | ¥558.50B | 19.98 | ― | 3.25% | 18.43% | 149.34% | |
67 Neutral | ¥489.13B | 17.99 | 11.32% | 4.13% | 2.53% | -14.17% | |
64 Neutral | ¥442.80B | 11.20 | 10.33% | 4.92% | -0.45% | 50.53% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JP:4631
DIC
5,378.00
2,435.41
82.76%
JP:4613
Kansai Paint Co
3,029.00
906.76
42.73%
JP:4612
Nippon Paint Holdings Co
1,238.50
-62.53
-4.81%
JP:4628
SK Kaken Co
9,140.00
110.33
1.22%
JP:4626
Taiyo Holdings Co., Ltd.
4,827.00
1,364.77
39.42%
JP:4633
Sakata Inx Corp.
2,597.00
484.45
22.93%
DIC Corporate Events
DIC to Repurchase Up to ¥10 Billion in Shares Under Expanded Shareholder Return Policy
Aug 10, 2026
DIC Corporation has approved a share buyback program under Japan’s Companies Act, authorizing the repurchase of up to 2.8 million common shares, or about 2.96% of its outstanding stock, via market purchases on the Tokyo Stock Exchange betwee...
DIC Raises 2026 Year-End Dividend and Launches ¥10 Billion Share Buyback
Aug 10, 2026
DIC Corporation has revised its fiscal 2026 year-end dividend forecast, lifting the planned payout from ¥70 to ¥80 per share and bringing the total annual dividend to ¥150, up from the prior year’s ¥140. The move aligns w...
DIC Lifts 2026 Earnings Outlook After Strong First-Half Beat
Aug 10, 2026
DIC Corporation reported that its consolidated results for the six months ended June 30, 2026 significantly exceeded prior forecasts, with net sales and all key profit metrics rising on stronger demand. The upside was driven by increased shipments...
DIC Corporation Lifts Profit Outlook and Shareholder Returns on Strong Chemitronics Demand
Aug 10, 2026
DIC Corporation reported a 13.3% year-on-year increase in net sales to ¥593.0 billion for the six months ended June 30, 2026, driven notably by a 25.5% surge in chemitronics sales on strong semiconductor demand and higher sales of high-value-...
DIC lifts earnings, dividend and guidance on strong first-half results
Aug 10, 2026
DIC Corporation is a Tokyo-listed manufacturer operating under Japan GAAP, with diversified businesses reflected in substantial consolidated net sales. The company serves global industrial customers and maintains a significant asset base and share...
DIC Posts Profit Surge on Chemitronics Strength but Keeps FY2026 Outlook Unchanged
May 15, 2026
DIC Corporation reported consolidated net sales of ¥282.5 billion for the three months ended March 31, FY2026, up 7.8% year on year, driven by robust semiconductor demand that lifted chemitronics sales by 24.1% and by the translation benefit ...
DIC Posts Sharp Profit Rebound in Q1 2026 but Plans Lower Annual Dividend
May 15, 2026
DIC Corporation reported strong first-quarter 2026 results, with net sales rising 7.8% year on year to ¥282.5 billion and operating income surging 87.7% to ¥24.5 billion, while net income attributable to owners jumped 214.7% to ¥19....
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.