DIC Corporation (JP:4631)
:4631
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DIC
(4631)
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Rating:65Neutral
Price Target:
¥4,013.00
▲(10.58% Upside)
Action:DowngradedDate:02/18/26
The score is driven primarily by improving profitability and cash flow, offset by the steep 2025 revenue decline and still-elevated leverage. Technicals are supportive with a strong uptrend, but overbought signals temper the near-term outlook; valuation is reasonable with a moderate P/E and ~2.26% yield.
Positive Factors
Cash generation recovery
A strong rebound in operating cash flow and free cash flow in 2025 meaningfully improves the company’s ability to fund operations, capex, dividends and debt reduction without relying on external financing. Sustained cash generation increases resilience through cycles and supports strategic optionality over the next several quarters.
Negative Factors
Sharp revenue decline in 2025
A steep 31.6% top-line contraction materially weakens operating leverage and raises questions about sustainable demand or lost volumes. Prolonged top-line weakness would impair margin recovery, weaken cash flow momentum and make deleveraging and reinvestment more difficult over a multi-quarter horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation recovery
A strong rebound in operating cash flow and free cash flow in 2025 meaningfully improves the company’s ability to fund operations, capex, dividends and debt reduction without relying on external financing. Sustained cash generation increases resilience through cycles and supports strategic optionality over the next several quarters.
Read all positive factors
DIC (4631) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥353.35B
Dividend Yield2.61%
Average Volume (3M)296.89K
Price to Earnings (P/E)10.7
Beta (1Y)0.77
Revenue Growth-1.45%
EPS GrowthN/A
CountryJP
Employees21,184
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)112.19
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
¥5,400.00Price Target Upside48.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)380.2
Revenue Forecast (FY)¥1.10T
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 and specialty-material products to business customers. Key revenue streams include (1) printing inks and related materials sold to printers and packaging converters, (2) resins and ch...
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
Negative
3629.00
Price Trends
3982.12
Negative
3821.52
Negative
3527.29
Positive
Market Momentum
-65.64
Negative
44.64
Neutral
37.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4631, the sentiment is Negative. The current price of 3629 is below the 20-day moving average (MA) of 3749.30, below the 50-day MA of 3982.12, and above the 200-day MA of 3527.29, indicating a neutral trend. The MACD of -65.64 indicates Negative momentum. The RSI at 44.64 is Neutral, neither overbought nor oversold. The STOCH value of 37.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | ¥118.67B | 10.07 | ― | 3.72% | 5.40% | 14.80% | |
75 Outperform | ¥550.89B | 20.62 | ― | 3.26% | 11.78% | 8.98% | |
74 Outperform | ¥167.59B | 8.76 | 6.23% | 1.11% | 2.88% | 16.60% | |
69 Neutral | ¥2.35T | 13.66 | 11.64% | 1.52% | 9.81% | 32.64% | |
68 Neutral | ¥410.59B | 7.90 | 13.71% | 3.38% | 0.29% | 27.84% | |
65 Neutral | ¥353.35B | 10.69 | 8.14% | 2.61% | -1.45% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JP:4631
DIC
3,756.00
1,303.17
53.13%
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DIC Corporate Events
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...
DIC Unveils Phase 2 of Vision 2030 to Drive Growth in AI-Era Materials
Feb 16, 2026
DIC Corporation has launched Phase 2 of its long-term management plan, DIC Vision 2030, covering fiscal years 2026 to 2030 as the final stage toward its 2030 goals. The company defines this phase as the period to fully realize its vision, followin...
DIC Beats Profit Forecasts for Fiscal 2025 Despite Slight Sales Shortfall
Feb 16, 2026
DIC Corporation reported that its fiscal 2025 consolidated net sales fell slightly short of earlier forecasts, reflecting lower-than-expected sales volumes across its businesses. However, profitability improved as operating income, ordinary income...
DIC Lifts Profits on High-Value Products and Pledges Higher Dividend for 2026
Feb 16, 2026
DIC Corporation reported that net sales for fiscal 2025 fell as shipments of mass-market consumer-adjacent products, such as packaging inks and pigments for coatings and plastics, declined amid higher prices and economic uncertainty. However, oper...
DIC lifts profit and dividend despite softer sales in FY2025
Feb 16, 2026
DIC Corporation reported consolidated net sales of ¥1,052.2 billion for fiscal 2025, down 1.8% year on year, while operating income rose 17.2% to ¥52.2 billion and net income attributable to owners of the parent jumped 51.8% to ¥32....
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.