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Noevir Holdings Co., Ltd.
(4928)
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Rating:77Outperform
Price Target:
¥5,249.00
▲(14.61% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance, led by a very solid balance sheet with minimal leverage and healthy profitability. Offsetting factors include weaker free cash flow growth and only mixed technical signals (neutral RSI and near-term price softness despite supportive longer-term averages). Valuation is supported by a strong dividend yield, with a moderate P/E keeping the overall score in the upper-middle range.
Positive Factors
Strong Balance Sheet
Extremely low leverage and a healthy equity ratio materially reduce financial risk and increase strategic optionality. This durable strength supports continued dividends, opportunistic M&A or investment in product development without stressing liquidity over the next 2–6 months.
Negative Factors
Weak Free Cash Flow Growth
Negative recent free cash flow growth constrains the company's ability to fund reinvestment, marketing, or product launches from internal resources. Over several months this can limit expansion pace or force reliance on retained earnings despite strong accounting profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Extremely low leverage and a healthy equity ratio materially reduce financial risk and increase strategic optionality. This durable strength supports continued dividends, opportunistic M&A or investment in product development without stressing liquidity over the next 2–6 months.
Read all positive factors
Noevir Holdings Co., Ltd. (4928) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥164.63B
Dividend Yield4.77%
Average Volume (3M)162.01K
Price to Earnings (P/E)20.6
Beta (1Y)0.32
Revenue Growth1.03%
EPS Growth5.17%
CountryJP
Employees1,354
SectorGeneral
Sector StrengthN/A
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)237.36
Shares Outstanding34,156,624
10 Day Avg. Volume82,960
30 Day Avg. Volume162,006
Financial Highlights & Ratios
PEG Ratio25.18
Price to Book (P/B)2.84
Price to Sales (P/S)2.36
P/FCF Ratio26.94
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)238.6
Revenue Forecast (FY)¥64.30B
Noevir Holdings Co., Ltd. Business Overview & Revenue Model
Company Description
Noevir Holdings Co., Ltd. is a diversified Japanese conglomerate involved in the creation, production, and distribution of cosmetics, pharmaceuticals, and health food items. Its operations span a wide international footprint, including key markets...
How the Company Makes Money
Noevir Holdings makes money primarily by selling cosmetics and personal care products. Its revenue model is centered on (1) direct-to-consumer style sales via a structured sales network (e.g., beauty advisers/consultants and affiliated salons/agen...
Noevir Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.30B | 64.72B | 63.82B | 62.55B | 61.14B | 51.27B |
| Gross Profit | 42.42B | 43.28B | 43.16B | 42.56B | 42.09B | 33.03B |
| EBITDA | 12.10B | 11.94B | 12.44B | 12.24B | 11.57B | 10.05B |
| Net Income | 8.11B | 8.03B | 7.97B | 7.67B | 7.59B | 6.38B |
Balance Sheet | ||||||
| Total Assets | 71.74B | 76.49B | 76.47B | 77.25B | 76.78B | 80.45B |
| Cash, Cash Equivalents and Short-Term Investments | 23.42B | 26.93B | 29.22B | 28.88B | 29.75B | 31.10B |
| Total Debt | 699.00M | 742.00M | 828.00M | 914.00M | 1.00B | 1.11B |
| Total Liabilities | 22.24B | 22.28B | 22.56B | 24.04B | 24.39B | 28.21B |
| Stockholders Equity | 48.86B | 53.77B | 53.48B | 52.79B | 52.06B | 51.93B |
Cash Flow | ||||||
| Free Cash Flow | 3.23B | 5.66B | 8.50B | 6.89B | 5.30B | 8.69B |
| Operating Cash Flow | 3.94B | 7.93B | 9.12B | 7.62B | 5.84B | 9.06B |
| Investing Cash Flow | -648.00M | -2.42B | 1.52B | -3.54B | -255.00M | -416.00M |
| Financing Cash Flow | -202.00M | -7.92B | -7.71B | -7.49B | -7.38B | -7.18B |
Noevir Holdings Co., Ltd. Technical Analysis
Positive
4580.00
Price Trends
4494.00
Positive
4465.35
Positive
4524.73
Positive
Market Momentum
83.21
Positive
59.08
Neutral
36.23
Neutral
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 4715.25, above the 50-day MA of 4494.00, and above the 200-day MA of 4524.73, indicating a bullish trend. The MACD of 83.21 indicates Positive momentum. The RSI at 59.08 is Neutral, neither overbought nor oversold. The STOCH value of 36.23 is Neutral, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥164.63B | 20.63 | ― | 5.00% | 1.03% | 5.17% | |
74 Outperform | ¥3.38T | 25.00 | 12.16% | 2.36% | 6.19% | 21.69% | |
71 Outperform | ¥316.03B | 27.80 | 6.58% | 3.89% | 0.95% | 76.82% | |
68 Neutral | ¥336.31B | 24.23 | 3.71% | 2.42% | 3.22% | 358.24% | |
58 Neutral | ¥1.44T | -70.31 | ― | 1.64% | 4.96% | -1485.59% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:4928
Noevir Holdings Co., Ltd.
4,820.00
333.34
7.43%
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Pola Orbis Holdings
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42.74%
Noevir Holdings Co., Ltd. Corporate Events
Noevir Holds Dividend and Full-Year Outlook Despite Weaker Nine-Month Results
Aug 3, 2026
Noevir Holdings reported a 2.6% year-on-year decline in net sales to ¥46.08 billion for the first nine months of the fiscal year ending September 30, 2026, with operating income down 13.9% and ordinary income down 13.4%. Net income attributab...
Noevir Holds Earnings Outlook and Dividend Despite Weaker First-Half Results
May 13, 2026
Noevir Holdings Co., Ltd. is a Japan-based company listed on the Tokyo Stock Exchange Prime Market, operating mainly in the cosmetics and related consumer goods sector. The group focuses on developing and marketing beauty and personal care product...
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.