Noevir Holdings Co., Ltd. (4928) AI Stock Analysis

• Market Cap: ¥159.34B
• Dividend Yield: 5%
• Average Volume (3M): 162.01K
• Price to Earnings (P/E): 19.8
• Beta (1Y): 0.41
• Revenue Growth: 1.41%
• EPS Growth: 0.75%
• Country: JP
• Employees: 1,369
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): 114.37
• Shares Outstanding: 34,156,624
• 10 Day Avg. Volume: 82,960
• 30 Day Avg. Volume: 162,006
• PEG Ratio: 25.18
• Price to Book (P/B): 2.84
• Price to Sales (P/S): 2.36
• P/FCF Ratio: 28.19
• 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: 76 Outperform
• Price Target: ¥5,204.00 ▲(13.62% Upside)

Noevir Holdings Co., Ltd. has a strong financial foundation with consistent growth and low leverage. The technical indicators suggest a stable market position, and the valuation is attractive with a solid dividend yield. These factors contribute to a favorable overall stock score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates a strong market position and effective product strategy, supporting long-term business sustainability.

Balance Sheet Health

A low debt-to-equity ratio minimizes financial risk, providing stability and flexibility for future investments and growth.

Profit Margins

High profit margins reflect effective cost control and pricing power, contributing to sustained profitability and competitive advantage.

Negative Factors

Free Cash Flow Growth Challenges

Negative free cash flow growth can limit the company's ability to invest in new opportunities and may impact long-term financial flexibility.

Operational Efficiency Pressure

Declining EBIT and EBITDA margins suggest potential inefficiencies, which could affect profitability if not addressed.

Cash Flow Conversion

Difficulty in converting earnings to cash may indicate operational inefficiencies, affecting liquidity and investment capacity.

Noevir Holdings Co., Ltd. Business Overview & Revenue Model

Company Description

Noevir Holdings Co., Ltd. develops, produces, and sells cosmetics, pharmaceuticals, and health food products in Japan, China, Taiwan, South Korea, Hong Kong, Singapore, Thailand, the United States, Canada, and Russia. The company's Cosmetics segment develops, produces, and sells skincare products under various brands, including Noevir and Nameraka Honpo; and NOV hypoallergenic cosmetics, as well as provides contract manufacturing services for cosmetics and quasi drugs. Its Pharmaceutical & Health Food segment produces and sells Nanten Nodo Ame cough drops; functional drinks, such as the Min Min Da Ha; and over-the-counter pharmaceuticals comprising cold remedies, eye drops, and digestive aids, as well as nutritional supplements, and other products. The company's Other segment sells and leases apparels and aircrafts. The company also produces and sells toiletries; purchases and sells makeup products and vessels; and provides market research services. In addition, it provides air transportation, charter flights, ground handling, and hanger rental services; and aircraft flight training, as well as undertakes aviation-related operations. The company sells its products through drug stores, specialty goods and general merchandise stores, supermarkets, online stores, and convenience stores, as well as approximately 2,000 Noevir beauty studios and own retail stores. Noevir Holdings Co., Ltd. was founded in 1964 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Noevir Holdings generates revenue primarily through the sale of its cosmetic products, health supplements, and pharmaceuticals. The company operates a multi-channel distribution model, including direct sales through its network of sales representatives, online sales, and retail partnerships. Key revenue streams include sales from its skincare and makeup lines, which are targeted at both domestic and international markets. Additionally, Noevir engages in strategic partnerships with various retailers and e-commerce platforms, enhancing its market reach. The company's focus on research and development allows it to innovate and introduce new products, which further drives sales and contributes to its overall earnings.

Noevir Holdings Co., Ltd. Financial Statement Overview

Summary

Noevir Holdings Co., Ltd. demonstrates strong financial performance with consistent revenue growth and healthy profit margins. The balance sheet is robust with minimal leverage, but there are challenges in maintaining free cash flow growth.

Income Statement

Noevir Holdings Co., Ltd. demonstrates strong financial performance with consistent revenue growth and healthy profit margins. The gross profit margin remains robust at approximately 67%, indicating efficient cost management. The net profit margin is stable around 12%, reflecting solid profitability. However, there is a slight decline in EBIT and EBITDA margins over the years, suggesting potential pressure on operational efficiency.

Balance Sheet

The company's balance sheet is strong, characterized by a low debt-to-equity ratio of approximately 0.014, indicating minimal leverage and financial risk. The return on equity is commendable at around 14.9%, showcasing effective utilization of shareholder funds. The equity ratio is healthy, reflecting a solid capital structure and financial stability.

Cash Flow

Cash flow analysis reveals a mixed picture. While the operating cash flow to net income ratio is strong, indicating good cash generation relative to earnings, the free cash flow growth rate has been negative recently, suggesting challenges in maintaining cash flow growth. The free cash flow to net income ratio is healthy, indicating efficient conversion of earnings into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	64.72B	64.72B	63.82B	62.55B	61.14B	51.27B
Gross Profit	43.28B	43.28B	43.16B	42.56B	42.09B	33.03B
EBITDA	12.61B	11.94B	12.44B	12.24B	11.57B	10.05B
Net Income	8.03B	8.03B	7.97B	7.67B	7.59B	6.38B
Balance Sheet
Total Assets	76.49B	76.49B	76.47B	77.25B	76.78B	80.45B
Cash, Cash Equivalents and Short-Term Investments	26.93B	26.93B	29.22B	28.88B	29.75B	31.10B
Total Debt	742.00M	742.00M	828.00M	914.00M	1.00B	1.11B
Total Liabilities	22.28B	22.28B	22.57B	24.04B	24.40B	28.22B
Stockholders Equity	53.77B	53.77B	53.48B	52.79B	52.05B	51.93B
Cash Flow
Free Cash Flow	5.66B	5.41B	8.11B	6.57B	5.23B	8.63B
Operating Cash Flow	7.93B	7.93B	9.12B	7.62B	5.84B	9.06B
Investing Cash Flow	-2.42B	-2.42B	1.52B	-3.54B	-255.00M	-416.00M
Financing Cash Flow	-7.92B	-7.92B	-7.71B	-7.49B	-7.38B	-7.18B

Noevir Holdings Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4580.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4928, the sentiment is Positive. The current price of 4580 is below the 20-day moving average (MA) of 4620.75, below the 50-day MA of 4593.80, and above the 200-day MA of 4313.52, indicating a bullish trend. The MACD of 24.95 indicates Negative momentum. The RSI at 58.75 is Neutral, neither overbought nor oversold. The STOCH value of 83.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4928.

Noevir Holdings Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4928	76 Outperform	¥159.34B	19.84	―	5.00%	1.41%	0.75%
4912	76 Outperform	¥456.77B	15.86	9.77%	1.73%	2.18%	60.81%
4927	68 Neutral	¥301.42B	30.18	6.05%	3.92%	-1.16%	36.30%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
4967	57 Neutral	¥405.60B	35.25	5.37%	1.95%	-3.33%	13.76%
4922	57 Neutral	¥308.93B	41.29	2.72%	2.61%	1.37%	-5.60%
4911	49 Neutral	¥1.07T	-19.56	―	2.11%	-1.20%	-2896.72%

Noevir Holdings Co., Ltd. Corporate Events

Noevir Holdings Announces Shareholder Details and Minority Protection Measures

Noevir Holdings Co., Ltd. announced details regarding its controlling shareholders, highlighting that Takashi Okura holds a significant portion of voting rights. The company emphasizes its commitment to fair transactions with its controlling shareholder, ensuring that these are conducted under the same terms as general transactions to protect minority shareholders’ interests.

The most recent analyst rating on (JP:4928) stock is a Buy with a Yen4823.00 price target. To see the full list of analyst forecasts on Noevir Holdings Co., Ltd. stock, see the JP:4928 Stock Forecast page.

Noevir Holdings Announces Key Leadership Changes

Noevir Holdings Co., Ltd. announced significant changes in its leadership structure to enhance its management capabilities. The appointment of Ikkou Yoshida as Vice President and Representative Director is part of the company’s strategy to strengthen its executive team, reflecting a commitment to robust governance and strategic growth.

The most recent analyst rating on (JP:4928) stock is a Buy with a Yen4823.00 price target. To see the full list of analyst forecasts on Noevir Holdings Co., Ltd. stock, see the JP:4928 Stock Forecast page.

Noevir Holdings Announces Leadership Restructuring in Subsidiaries

Noevir Holdings Co., Ltd. has announced changes in the leadership of its subsidiaries, Noevir Co., Ltd. and TOKIWA Pharmaceutical Co., Ltd., as part of a management restructuring. These changes, which will be finalized at upcoming shareholder and board meetings, aim to streamline operations and enhance strategic focus across various divisions, potentially impacting the company’s market positioning and stakeholder interests.

The most recent analyst rating on (JP:4928) stock is a Buy with a Yen4823.00 price target. To see the full list of analyst forecasts on Noevir Holdings Co., Ltd. stock, see the JP:4928 Stock Forecast page.

Noevir Holdings Proposes Flexible Meeting Amendments

Noevir Holdings Co., Ltd. has announced a proposed amendment to its Articles of Incorporation to allow for the holding of General Meetings of Shareholders without a fixed location. This change is aimed at reducing risks associated with large-scale disasters and leveraging digital advancements, ultimately benefiting shareholders by providing more flexible meeting arrangements.

The most recent analyst rating on (JP:4928) stock is a Buy with a Yen4823.00 price target. To see the full list of analyst forecasts on Noevir Holdings Co., Ltd. stock, see the JP:4928 Stock Forecast page.

Noevir Holdings Increases Year-End Dividend Payout

Noevir Holdings has announced an increase in its year-end dividend distribution from retained earnings, raising the dividend per share to 230 yen, up from the previous 225 yen. This decision reflects the company’s policy of consistently returning profits to shareholders while ensuring sufficient reserves for future growth and management strengthening.

The most recent analyst rating on (JP:4928) stock is a Buy with a Yen4823.00 price target. To see the full list of analyst forecasts on Noevir Holdings Co., Ltd. stock, see the JP:4928 Stock Forecast page.

Noevir Holdings Reports Steady Financial Performance for 2025

Noevir Holdings reported a slight increase in net sales and net income for the fiscal year ending September 30, 2025, despite a decline in operating income. The company maintained a stable financial position with a slight improvement in equity ratio and increased its year-end dividend. The results indicate a steady performance in a competitive market, with plans for modest growth in the upcoming fiscal year.

The most recent analyst rating on (JP:4928) stock is a Buy with a Yen4823.00 price target. To see the full list of analyst forecasts on Noevir Holdings Co., Ltd. stock, see the JP:4928 Stock Forecast page.