Milbon Co (4919) AI Stock Analysis

• Market Cap: ¥76.87B
• Dividend Yield: 3.53%
• Average Volume (3M): 151.73K
• Price to Earnings (P/E): 23.9
• Beta (1Y): 0.28
• Revenue Growth: 3.05%
• EPS Growth: -32.61%
• Country: JP
• Employees: 1,188
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): 38.82
• Shares Outstanding: 32,305,534
• 10 Day Avg. Volume: 148,740
• 30 Day Avg. Volume: 151,733
• PEG Ratio: 0.90
• Price to Book (P/B): 2.34
• Price to Sales (P/S): 2.22
• P/FCF Ratio: 21.01
• 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: 75 Outperform
• Price Target: ¥2,810.00 ▲(12.49% Upside)

The score is driven primarily by strong financial quality (notably a debt-free balance sheet and solid profitability) and improving 2024 cash flow. Technicals are supportive with price trading above key moving averages, while valuation is the main restraint due to a relatively high P/E despite a solid dividend yield.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet reduces financial risk, providing Milbon with greater flexibility to invest in growth opportunities and withstand economic downturns.

Revenue Growth

Steady revenue growth indicates strong demand for Milbon's products, supporting long-term business expansion and market presence in the professional haircare industry.

Cash Flow Improvement

Improved cash flow enhances Milbon's ability to fund operations, invest in growth, and return capital to shareholders, strengthening financial stability.

Negative Factors

Profitability Decline

Declining profitability despite sales growth suggests cost pressures or inefficiencies, potentially impacting long-term financial health and competitiveness.

Margin Compression

Compressed margins indicate rising costs or pricing pressures, which could challenge Milbon's ability to maintain profitability and competitive pricing.

Uneven Cash Conversion

Uneven cash conversion suggests potential volatility in operational efficiency, which may affect Milbon's ability to consistently generate cash and fund strategic initiatives.

Milbon Co Business Overview & Revenue Model

Company Description

Milbon Co., Ltd. manufactures and sells hair products for salons in Japan. The company offers hair color and styling agents, perming agents, shampoos, hair treatment products, and medicinal hair growth promoters, as well as skin care and cosmetic products. It also exports its products. The company was formerly known as Yutaka Beauty Chemicals Co., Ltd. and changed its name to Milbon Co., Ltd. in January 1965. Milbon Co., Ltd. was founded in 1960 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Milbon Co. makes money through the sale of its professional haircare and skincare products, which are distributed primarily to salons and beauty professionals. The company generates revenue by leveraging its strong brand identity and extensive product range, catering to both domestic and international markets. Milbon's revenue streams are bolstered by its partnerships with salons, where it provides exclusive products and training programs to stylists, enhancing brand loyalty and product adoption. Additionally, the company invests in research and development to continuously innovate and improve its offerings, ensuring a competitive edge in the beauty industry.

Milbon Co Financial Statement Overview

Summary

Milbon Co's financial health is strong across the board, with consistent revenue growth, high profitability, and a solid balance sheet devoid of debt. The company effectively converts its income into cash, supporting its operations and growth initiatives. Milbon Co is well-positioned in its industry with minimal financial risk and a promising growth trajectory.

Income Statement

Milbon Co showcases strong financial performance with consistent revenue growth and robust profitability metrics. The gross profit margin has improved from previous years, and the net profit margin stands firm at around 10%. Revenue growth rate over the past year was approximately 7.4%, signaling a positive trajectory. EBIT and EBITDA margins are solid, reflecting efficient operations.

Balance Sheet

The balance sheet of Milbon Co is remarkably strong, with no debt and a high equity ratio of approximately 82.9%. Return on Equity (ROE) is impressive at approximately 10.3%, indicating effective use of shareholder equity to generate profits. The firm's assets are largely funded by equity, minimizing financial risk.

Cash Flow

Cash flow analysis reveals a robust free cash flow growth rate of approximately 249% year-over-year, signaling strong cash generation. The operating cash flow to net income ratio exceeds 1, indicating healthy cash conversion. The free cash flow to net income ratio is also favorable, underscoring efficient capital expenditure management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	51.60B	51.32B	47.76B	45.24B	41.58B	35.73B
Gross Profit	32.34B	32.60B	29.53B	29.51B	27.50B	23.39B
EBITDA	6.92B	9.11B	7.80B	9.63B	9.60B	8.00B
Net Income	3.16B	5.02B	4.00B	5.58B	5.11B	4.20B
Balance Sheet
Total Assets	55.96B	58.90B	53.39B	52.76B	48.24B	43.08B
Cash, Cash Equivalents and Short-Term Investments	11.73B	13.83B	11.34B	12.30B	13.55B	12.35B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	8.48B	10.08B	7.46B	8.77B	8.04B	6.77B
Stockholders Equity	47.48B	48.82B	45.93B	43.99B	40.20B	36.31B
Cash Flow
Free Cash Flow	0.00	5.43B	1.56B	1.19B	2.15B	4.58B
Operating Cash Flow	0.00	7.63B	4.77B	5.01B	6.64B	6.55B
Investing Cash Flow	0.00	-2.53B	-3.11B	-3.87B	-4.00B	-161.78M
Financing Cash Flow	0.00	-2.86B	-2.80B	-2.58B	-1.92B	-3.42B

Milbon Co Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2498.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4919, the sentiment is Neutral. The current price of 2498 is above the 20-day moving average (MA) of 2437.50, above the 50-day MA of 2410.99, and above the 200-day MA of 2466.15, indicating a neutral trend. The MACD of 0.98 indicates Positive momentum. The RSI at 48.65 is Neutral, neither overbought nor oversold. The STOCH value of 13.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4919.

Milbon Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4928	76 Outperform	¥158.66B	19.76	―	5.00%	1.41%	0.75%
4919	75 Outperform	¥76.87B	23.88	6.83%	3.53%	3.05%	-32.61%
4927	68 Neutral	¥290.92B	29.13	6.05%	3.92%	-1.16%	36.30%
4923	66 Neutral	¥34.05B	24.42	―	1.81%	0.22%	4.15%
4917	63 Neutral	¥127.98B	66.54	2.73%	1.45%	3.95%	-25.42%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
4922	57 Neutral	$298.60B	39.91	2.72%	2.61%	1.37%	-5.60%

Milbon Co Corporate Events

Milbon Corrects Governance Filing on Outside Audit and Supervisory Board Appointment

Milbon Co., Ltd. has corrected a previous disclosure regarding the appointment of a temporary Audit and Supervisory Board member, clarifying that a proposal will be submitted at the March 2026 Annual General Meeting of Shareholders to appoint Daisuke Umemoto as an Outside Audit and Supervisory Board Member, rather than as an Outside Director. The company stated that the change was necessary due to a clerical error in the earlier announcement, underscoring that the governance-related appointment remains on track while ensuring the accuracy of its corporate disclosure to stakeholders and regulators.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.

Milbon Appoints Court-Approved Temporary Audit Board Member After Vacancy

Milbon has filled a legal vacancy on its Audit and Supervisory Board following the death of outside member Takashi Hirano, with the Osaka District Court appointing attorney Daisuke Umemoto as a Temporary Audit and Supervisory Board Member effective December 23, 2025. Umemoto, an experienced lawyer who serves as an audit and supervisory board member at Corning Japan and Corning International, will serve in this temporary role until Milbon’s March 2026 annual general meeting, where shareholders are scheduled to vote on a permanent replacement and on a proposal to appoint him as an Outside Director, helping to maintain governance continuity and oversight during the transition period.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.

Milbon Co. Appoints Temporary Audit Board Member

Milbon Co., Ltd. has announced its decision to file a petition for the appointment of Mr. Daisuke Umemoto as a temporary Audit and Supervisory Board Member, following the vacancy left by the passing of Mr. Takashi Hirano. This move is intended to ensure the continuity and integrity of the company’s audit and supervisory functions, which are crucial for maintaining stakeholder confidence and compliance with legal requirements.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.

Milbon Co. Announces Cancellation of Treasury Shares

Milbon Co., Ltd. has announced a decision by its Board of Directors to cancel 811,700 of its treasury shares, which constitutes 2.45% of its total issued shares, effective December 26, 2025. This move is likely aimed at optimizing the company’s capital structure and could have implications for shareholder value and market perception.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.

Milbon Co. Announces Board Member Passing and Plans for Temporary Appointment

Milbon Co., Ltd. announced the passing of Mr. Takashi Hirano, an Audit and Supervisory Board Member, on December 2, 2025. This unfortunate event leaves a vacancy on the board, and the company plans to petition the court for the appointment of a temporary member, ensuring continued compliance and governance.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.

Milbon Co. Reports Decline in Profitability Despite Sales Growth

Milbon Co., Ltd. reported its consolidated financial results for the nine months ending September 30, 2025, showing a slight increase in net sales by 2.3% compared to the previous year. However, the company experienced significant declines in operating income, ordinary income, and profit attributable to owners of the parent, with decreases of 28.1%, 34.4%, and 50.4% respectively. The company’s equity ratio improved slightly, and it maintained its dividend forecast for the fiscal year. These results indicate challenges in profitability despite stable sales, potentially impacting investor confidence and requiring strategic adjustments.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.

Milbon Co. Completes Share Repurchase Program

Milbon Co., Ltd. has completed a share repurchase program, acquiring 389,500 of its own common shares for a total of JPY 944,838,400. This move, executed through the Tokyo Stock Exchange, is part of a larger plan authorized by the Board of Directors to repurchase up to 870,000 shares, reflecting the company’s strategy to enhance shareholder value and optimize its capital structure.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.

Milbon Co. Announces Share Repurchase to Enhance Shareholder Value

Milbon Co., Ltd. announced the repurchase of 148,800 of its own shares, costing JPY 372,379,100, as part of a broader share repurchase program authorized by the Board of Directors. This move is part of a strategic initiative to enhance shareholder value and optimize capital structure, reflecting the company’s commitment to maintaining a strong market position and delivering value to its stakeholders.

The most recent analyst rating on (JP:4919) stock is a Hold with a Yen2900.00 price target. To see the full list of analyst forecasts on Milbon Co stock, see the JP:4919 Stock Forecast page.