Milbon Co Ltd (JP:4919)
:4919
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Milbon Co
(4919)
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Rating:69Neutral
Price Target:
¥3,005.00
▲(20.30% Upside)
Action:Downgraded
Date:05/19/26
The score is driven primarily by solid financial quality (especially the debt-free balance sheet and durable gross profitability), offset by recent margin/earnings and cash-flow softening. Technical indicators point to weak near-term momentum, while valuation is moderately supportive due to the dividend yield and a mid-range P/E.
Positive Factors
Debt-free balance sheet
Milbon's zero-debt position and growing equity provide durable financial flexibility. Without leverage the company can fund training, product development, dividends or absorb demand shocks without refinancing risk, supporting strategic choices and lower solvency risk over months.
Negative Factors
Net margin compression
Net margin falling roughly from ~12% to ~6.5% and a year-over-year earnings decline reduce core earnings power. Persistent margin erosion constrains reinvestment, dividends and ROE, and suggests structural cost, pricing or mix pressures that could weigh on medium-term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Milbon's zero-debt position and growing equity provide durable financial flexibility. Without leverage the company can fund training, product development, dividends or absorb demand shocks without refinancing risk, supporting strategic choices and lower solvency risk over months.
Read all positive factors
Milbon Co (4919) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥83.34B
Dividend Yield3.53%
Average Volume (3M)151.73K
Price to Earnings (P/E)20.9
Beta (1Y)0.29
Revenue Growth6.10%
EPS Growth-9.89%
CountryJP
Employees1,188
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)96.93
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)142.21
Revenue Forecast (FY)¥56.42B
Milbon Co Business Overview & Revenue Model
Company Description
Milbon Co., Ltd. is a Japanese firm dedicated to the creation, production, and distribution of professional-grade hair care products, primarily targeting the salon industry. Their comprehensive product line for stylists includes a variety of items...
How the Company Makes Money
Milbon makes money primarily by selling professional haircare and hair cosmetic products, with hair salons as its main customers. Revenue is generated from the wholesale distribution of salon-use products (e.g., shampoos, conditioners/treatments, ...
Milbon Co Earnings Call Summary
Earnings Call Date:Aug 09, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Aug 10, 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
2641.34
Positive
2658.93
Negative
2539.02
Positive
Market Momentum
7.11
Negative
52.07
Neutral
52.00
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 2621.60, below the 50-day MA of 2641.34, and below the 200-day MA of 2539.02, indicating a bullish trend. The MACD of 7.11 indicates Negative momentum. The RSI at 52.07 is Neutral, neither overbought nor oversold. The STOCH value of 52.00 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 | ¥144.31B | 17.80 | ― | 5.00% | -1.45% | 1.16% | |
69 Neutral | ¥83.34B | 20.91 | 7.23% | 3.53% | 6.10% | -9.89% | |
69 Neutral | ¥290.61B | 28.24 | 2.72% | 2.61% | 1.63% | 74.87% | |
64 Neutral | ¥2.78T | 21.84 | 11.50% | 2.41% | 3.60% | 13.80% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
52 Neutral | ¥1.03T | -28.58 | ― | 2.11% | 0.45% | -836.50% |
* Consumer Defensive Sector Average
JP:4919
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Milbon Co Corporate Events
Milbon Outlines Q1 FY2026 Results and Full-Year Outlook
May 15, 2026
Milbon Co., Ltd. has released an outline of its consolidated financial results for the first quarter of fiscal year 2026, which ends on December 31, 2026. The document indicates that the company is reporting regional performance and providing an o...
Milbon Posts Strong Q1 Profit Surge and Keeps 2026 Outlook Intact
May 15, 2026
Milbon reported robust first-quarter results for the three months ended March 31, 2026, with net sales rising 11.0% year on year to ¥12.4 billion and operating income surging 75.4%, while profit attributable to owners of the parent jumped 119...
Milbon Completes Restricted Stock Grant to Directors and Executives
May 8, 2026
Milbon Co., Ltd. has completed the payment procedures for the disposal of 32,274 treasury shares as restricted stock to its board directors and executive officers, following a resolution passed on April 10, 2026. The shares, priced at 2,779 yen ea...
Milbon Grants Restricted Treasury Shares to Directors and Executives to Strengthen Equity-Based Pay
Apr 10, 2026
Milbon Co., Ltd. has approved the disposal of 32,274 treasury shares as restricted stock to six internal board directors and seven executive officers, with a disposal price of ¥2,779 per share and a total value of about ¥89.7 million. Th...
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.