Milbon Co Ltd (JP:4919)
:4919
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Milbon Co
(4919)
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Rating:71Outperform
Price Target:
¥3,020.00
▲(20.90% Upside)
Action:ReiteratedDate:02/18/26
The score is supported primarily by strong financial resilience (notably a debt-free balance sheet) and an upward price trend. It is held back by weakening recent earnings/cash flow trends and a relatively high P/E, despite a decent dividend yield.
Positive Factors
Debt-free Balance Sheet
A zero-debt capital structure with equity rising from ~¥36.3B (2020) to ~¥49.1B (2025) materially increases financial flexibility. This durable strength lowers insolvency risk, supports multi-year investments in product and salon programs, and enables discretionary uses of cash.
Negative Factors
Margin Compression and Earnings Decline
Meaningful margin compression and a drop in net income reduce internal funds for reinvestment and lower returns on capital. If structural (cost, mix, or pricing pressures), compressed margins can persist and constrain long-term profitability and ability to fund strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free Balance Sheet
A zero-debt capital structure with equity rising from ~¥36.3B (2020) to ~¥49.1B (2025) materially increases financial flexibility. This durable strength lowers insolvency risk, supports multi-year investments in product and salon programs, and enables discretionary uses of cash.
Read all positive factors
Milbon Co (4919) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥84.10B
Dividend Yield3.53%
Average Volume (3M)151.73K
Price to Earnings (P/E)22.9
Beta (1Y)0.34
Revenue Growth3.05%
EPS Growth-32.61%
CountryJP
Employees1,188
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)54.57
Shares Outstanding32,305,534
10 Day Avg. Volume148,740
30 Day Avg. Volume151,733
Financial Highlights & Ratios
PEG Ratio-0.74
Price to Book (P/B)1.61
Price to Sales (P/S)1.49
P/FCF Ratio32.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,100.00Price Target Upside24.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)141.51
Revenue Forecast (FY)¥56.50B
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 ...
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 pro...
Milbon Co Earnings Call Summary
Earnings Call Date:Aug 09, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The earnings call reflected a positive sentiment overall, with notable achievements in revenue growth, product launches, and strategic initiatives. While challenges remain in China and some product categories, the company's strong performance in other regions and sectors offsets these issues.Positive Updates
Record-Breaking Revenue and Growth
Milbon recorded JPY 24.526 billion in consolidated net sales, a year-on-year increase of 8.0%, surpassing the forecast by 2.3%.
Negative Updates
Challenges in China
Faced headwinds in China with a decline in salon visit frequency and hair coloring product sales.
Read all updates
Q2-2024 Updates
Positive
Negative
Record-Breaking Revenue and Growth
Milbon recorded JPY 24.526 billion in consolidated net sales, a year-on-year increase of 8.0%, surpassing the forecast by 2.3%.
Read all positive updates
Company Guidance
In the second quarter of fiscal year 2024, Milbon reported a robust financial performance, with consolidated net sales reaching JPY 24.526 billion, marking an 8.0% year-on-year increase and surpassing the forecast by 2.3%. Domestic operations contributed approximately 75% of net sales, or JPY 18.367 billion, with a growth of 6.9% year-on-year, driven primarily by a 9% increase in hair care product sales. Overseas sales, accounting for 25% of the total, grew by 11.4%, influenced by a weaker yen, while actual growth, excluding currency effects, was 2.8%. Notably, South Korea and the U.S. markets offset challenges in China, where net sales saw a contraction. Operating income also exceeded expectations, supported by improved gross profit margins and controlled SG&A expenses. The company's strategic focus on high-end hair care products and the expansion of their Smart Salon initiative contributed significantly to these positive results, while efforts to manage rising raw material costs and logistics are ongoing. Milbon remains on track to meet its full-year targets and maintains its dividend commitment for fiscal 2024.Milbon Co Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
92
Very Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 51.60B | 52.86B | 51.32B | 47.76B | 45.24B | 41.58B |
| Gross Profit | 32.34B | 33.18B | 32.60B | 29.53B | 29.51B | 27.50B |
| EBITDA | 7.91B | 7.75B | 9.11B | 7.80B | 9.63B | 9.60B |
| Net Income | 3.16B | 3.44B | 5.02B | 4.00B | 5.58B | 5.11B |
Balance Sheet | ||||||
| Total Assets | 55.96B | 57.80B | 58.90B | 53.39B | 52.76B | 48.24B |
| Cash, Cash Equivalents and Short-Term Investments | 11.73B | 11.82B | 13.83B | 11.34B | 12.30B | 13.55B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 8.48B | 8.74B | 10.08B | 7.46B | 8.77B | 8.04B |
| Stockholders Equity | 47.48B | 49.06B | 48.82B | 45.93B | 43.99B | 40.20B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 2.44B | 5.43B | 2.17B | 1.95B | 2.81B |
| Operating Cash Flow | 0.00 | 5.38B | 7.63B | 4.77B | 5.01B | 6.64B |
| Investing Cash Flow | 0.00 | -3.01B | -2.53B | -3.11B | -3.87B | -4.00B |
| Financing Cash Flow | 0.00 | -4.87B | -2.86B | -2.80B | -2.58B | -1.92B |
Milbon Co Technical Analysis
Positive
2498.00
Price Trends
2655.86
Positive
2536.25
Positive
2475.24
Positive
Market Momentum
-1.31
Positive
48.00
Neutral
31.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4919, the sentiment is Positive. The current price of 2498 is below the 20-day moving average (MA) of 2708.05, below the 50-day MA of 2655.86, and above the 200-day MA of 2475.24, indicating a neutral trend. The MACD of -1.31 indicates Positive momentum. The RSI at 48.00 is Neutral, neither overbought nor oversold. The STOCH value of 31.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4919.
Milbon Co Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥155.24B | 29.58 | ― | 5.00% | 1.41% | 0.75% | |
71 Outperform | ¥84.10B | 22.92 | 7.23% | 3.53% | 3.05% | -32.61% | |
70 Outperform | ¥2.72T | 24.05 | 11.50% | 2.41% | 4.62% | 47.68% | |
69 Neutral | ¥331.52B | 19.79 | 2.72% | 2.61% | 1.37% | -5.60% | |
63 Neutral | ¥138.78B | 62.64 | 3.10% | 1.45% | 3.95% | -25.42% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
56 Neutral | ¥1.17T | -22.37 | ― | 2.11% | -1.20% | -2896.72% |
* Consumer Defensive Sector Average
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Milbon Co Corporate Events
Milbon Moves to Tighten Governance With Articles of Incorporation Overhaul
Feb 13, 2026
Milbon Co., Ltd. plans to amend its Articles of Incorporation, notably shortening directors’ terms from two years to one year, in a move aimed at clarifying management responsibilities and enabling faster responses to shifts in the business ...
Milbon to Replace Long-Standing Auditor with Ernst & Young ShinNihon
Feb 13, 2026
Milbon Co., Ltd. plans to change its independent auditor, proposing Ernst Young ShinNihon LLC to replace long-time auditor GYOSEI CO. at its 66th Annual General Meeting of Shareholders scheduled for March 27, 2026. The move reflects Milbon’...
Milbon Outlines FY2025 Results and Sets Targets for 2026
Feb 13, 2026
Milbon Co., Ltd. released its consolidated financial results for fiscal year 2025, covering the period ending December 31, 2025, along with regional performance data and targets for fiscal 2026. The disclosure outlines initiatives planned for 2026...
Milbon Posts Profit Decline in 2025 but Signals Earnings Rebound in 2026
Feb 13, 2026
Milbon Co. reported consolidated net sales of ¥52.86 billion for the year ended December 31, 2025, up 3.0% year on year, but operating income fell 17.4% to ¥5.65 billion and profit attributable to owners of parent slid 31.5% to ¥3.4...
Milbon Corrects Governance Filing on Outside Audit and Supervisory Board Appointment
Dec 26, 2025
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 Dais...
Milbon Appoints Court-Approved Temporary Audit Board Member After Vacancy
Dec 25, 2025
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 effectiv...
Milbon Co. Appoints Temporary Audit Board Member
Dec 12, 2025
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 ...
Milbon Co. Announces Cancellation of Treasury Shares
Dec 12, 2025
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 company̵...
Milbon Co. Announces Board Member Passing and Plans for Temporary Appointment
Dec 2, 2025
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 te...
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.