DIC Corporation (JP:4631)
:4631
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DIC
(4631)
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Rating:64Neutral
Price Target:
¥5,171.00
▲(42.49% 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
Diversified product portfolio & recurring B2B revenue
DIC sells printing inks, pigments, resins and specialty materials across multiple end markets under long-term supply relationships. This diversified, B2B product mix smooths revenue variability, supports repeatable orders, and enables cross-selling, underpinning durable topline resilience.
Negative Factors
Steep revenue decline and volatility
A 31.6% revenue drop in 2025 highlights significant top-line volatility and weaker end-market demand. Sustained or recurring revenue contractions undermine operating leverage, compress margins and make medium-term cash flow forecasting and investment planning more uncertain.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified product portfolio & recurring B2B revenue
DIC sells printing inks, pigments, resins and specialty materials across multiple end markets under long-term supply relationships. This diversified, B2B product mix smooths revenue variability, supports repeatable orders, and enables cross-selling, underpinning durable topline resilience.
Read all positive factors
DIC (4631) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥457.47B
Dividend Yield2.61%
Average Volume (3M)296.89K
Price to Earnings (P/E)10.1
Beta (1Y)0.79
Revenue Growth-0.45%
EPS Growth50.53%
CountryJP
Employees21,184
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)295.61
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
¥5,500.00Price Target Upside51.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)343.25
Revenue Forecast (FY)¥1.09T
DIC Business Overview & Revenue Model
Company Description
DIC Corporation manufactures and sells printing inks, organic pigments, and polyphenylene sulfide (PPS) compounds worldwide. It operates through three segments: Packaging & Graphic, Color & Display, and Functional Products. The Packaging & Graphic...
How the Company Makes Money
DIC makes money primarily by manufacturing and selling chemical-based materials to business customers, with revenue largely driven by volume-based product sales under long-term, recurring supply relationships. Key revenue streams include: (1) Prin...
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 | 1.06T | 1.05T | 1.07T | 1.04T | 1.05T | 855.38B |
| Gross Profit | 225.87B | 227.97B | 222.20B | 186.38B | 199.22B | 177.32B |
| EBITDA | 104.17B | 107.16B | 98.45B | 71.04B | 88.47B | 80.94B |
| Net Income | 27.99B | 32.35B | 21.31B | -39.86B | 17.61B | 4.37B |
Balance Sheet | ||||||
| Total Assets | 1.20T | 1.27T | 1.23T | 1.24T | 1.26T | 1.07T |
| Cash, Cash Equivalents and Short-Term Investments | 57.35B | 68.91B | 61.87B | 87.53B | 63.38B | 38.25B |
| Total Debt | 467.43B | 458.27B | 484.33B | 528.96B | 509.33B | 384.21B |
| Total Liabilities | 789.67B | 783.25B | 805.82B | 845.62B | 840.55B | 690.47B |
| Stockholders Equity | 396.13B | 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
3629.00
Price Trends
3929.52
Positive
3943.53
Positive
3705.11
Positive
Market Momentum
299.30
Negative
77.82
Negative
83.15
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 3629 is below the 20-day moving average (MA) of 4209.45, below the 50-day MA of 3929.52, and below the 200-day MA of 3705.11, indicating a bullish trend. The MACD of 299.30 indicates Negative momentum. The RSI at 77.82 is Negative, neither overbought nor oversold. The STOCH value of 83.15 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 | ¥107.62B | 9.71 | ― | 3.72% | 4.49% | 27.96% | |
73 Outperform | ¥149.00B | 10.77 | 6.23% | 1.11% | 3.36% | 14.17% | |
69 Neutral | ¥2.46T | 12.63 | 11.64% | 1.52% | 11.97% | 45.59% | |
69 Neutral | ¥572.46B | 22.99 | ― | 3.26% | 15.83% | 124.18% | |
64 Neutral | ¥457.47B | 10.07 | 8.14% | 2.61% | -0.45% | 50.53% | |
63 Neutral | ¥413.46B | 13.61 | 13.71% | 3.38% | 0.16% | -12.55% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JP:4631
DIC
4,833.00
2,026.20
72.19%
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DIC Corporate Events
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....
DIC to Exit TAIYO Holdings Alliance in KKR-Backed Take-Private Deal
Mar 31, 2026
DIC Corporation has agreed to a transaction framework under which KKR-backed KJ005 Co., Ltd. will launch a tender offer to take TAIYO HOLDINGS CO., LTD. private, while DIC, an existing equity-method investor, will not tender its shares but will in...
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.