Miura Co., Ltd. (6005) AI Stock Analysis

• Market Cap: ¥363.73B
• Dividend Yield: 2.26%
• Average Volume (3M): 385.50K
• Price to Earnings (P/E): 15.1
• Beta (1Y): 0.71
• Revenue Growth: 31.34%
• EPS Growth: 15.87%
• Country: JP
• Employees: 6,059
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 68.32
• Shares Outstanding: 125,291,115
• 10 Day Avg. Volume: 390,670
• 30 Day Avg. Volume: 385,496
• PEG Ratio: 0.80
• Price to Book (P/B): 1.64
• Price to Sales (P/S): 1.33
• P/FCF Ratio: 11.93
• 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: ¥3,703.33
• Price Target Upside: 26.83% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 230.47
• Revenue Forecast (FY): ¥267.19B

• Rating: 67 Neutral
• Price Target: ¥3,208.00 ▲(9.86% Upside)
• Action: Downgraded Date: 02/18/26
• Date: Action: Downgraded 02/18/26

The score is supported by solid financial performance (growth, profitability, and a generally strong balance sheet) and a reasonable valuation with a ~2.25% dividend yield. It is held back primarily by weak technicals, with the share price below major moving averages and low momentum indicators, alongside some cash-flow volatility and recent margin compression.

Positive Factors

Recurring service revenue

Miura’s business combines equipment sales with recurring after‑sales contracts and remote monitoring. This installed‑base service model produces predictable, durable cash flows, supports customer retention, and smooths cyclicality in equipment sales over multi‑year horizons.

Conservative balance sheet

A very low debt load and a strong equity base provide financial flexibility to invest in service networks or R&D, withstand downturns, and support disciplined capital allocation without pressure from high interest costs or refinancing risk.

Robust cash generation

High free cash flow conversion and positive FCF growth indicate the company reliably turns profits into cash. This supports reinvestment in service capabilities, steady dividends, and balance sheet strengthening, reinforcing long‑term operational resilience.

Negative Factors

Modest recent revenue momentum

Trailing revenue growth appears modest, suggesting limited near‑term top‑line expansion despite solid margins. Without stronger revenue acceleration, returns on new investment or faster scaling of high‑margin services could be constrained over the medium term.

Product concentration

Miura’s core focus on boilers and thermal systems creates sector concentration risk. Demand is tied to industrial capital expenditure and energy trends; limited product diversification could amplify exposure to industry‑specific cycles or technological shifts in heating solutions.

Cash conversion gap

Operating cash flow converts just over half of net income into cash, indicating working capital or timing effects that reduce near‑term liquidity. In stress scenarios this gap could constrain short‑term flexibility despite healthy FCF metrics.

Miura Co., Ltd. Business Overview & Revenue Model

Company Description

Miura Co., Ltd. (6005) is a Japanese company specializing in manufacturing and providing energy-efficient boilers and other related equipment. The company operates primarily in the industrial sector, focusing on steam and hot water production systems, water treatment systems, and related services. Miura is renowned for its innovative technologies that promote sustainability and efficiency, catering to various industries including food, pharmaceuticals, and manufacturing.

How the Company Makes Money

Miura generates revenue through the sale of its core products, which include industrial boilers and water treatment systems. The company offers both new equipment sales and after-sales services, such as maintenance and support, which are critical for ensuring the longevity and efficiency of their products. Key revenue streams also come from long-term service contracts that provide ongoing support to customers. Additionally, Miura has established significant partnerships with various industrial sectors, enabling them to reach a broader market and enhance their service offerings, further contributing to their earnings.

Miura Co., Ltd. Financial Statement Overview

Summary

Strong overall fundamentals with 11.1% TTM revenue growth and solid profitability (gross margin ~37%, net margin ~9.6%). Balance sheet appears conservative with low debt-to-equity (~0.10) and healthy ROE (~12.1%), but TTM total debt is notably higher than the latest annual figure and margins have compressed versus FY2024 peaks. Cash flow is supportive (FCF ~¥38.4B, ~90% of net income) but shows meaningful volatility (sharp TTM FCF growth decline and weaker cash conversion).

Income Statement

TTM (Trailing-Twelve-Months) revenue grew 11.1% with solid profitability (gross margin ~37%, EBITDA margin ~16.7%, net margin ~9.6%). Earnings are healthy (TTM net income ¥24.7B), but margins have stepped down versus prior annual peaks (FY2024 net margin ~12.1% and EBITDA margin ~19.3%), suggesting some mix/cost pressure even as the top line expands.

Balance Sheet

Balance sheet quality is strong with meaningful equity (TTM equity ¥230.2B vs. assets ¥455.9B) and good shareholder returns (TTM return on equity ~12.1%). Leverage looks conservative based on the provided debt-to-equity (~0.10 TTM), though total debt is notably higher in TTM (¥135.4B) versus the most recent annual data point (¥21.2B), which is a key item to monitor.

Cash Flow

Cash generation is generally supportive: TTM operating cash flow is ¥42.9B and free cash flow is ¥38.4B, with free cash flow running close to reported earnings (about 90% of net income). The main weakness is volatility—TTM free cash flow growth is down sharply (-272.9%), and the provided cash conversion indicator (operating cash flow coverage ~0.53 TTM) is not consistently strong across periods, pointing to potential working-capital or timing swings.

Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	264.19B	251.34B	159.69B	158.38B	143.54B	134.73B
Gross Profit	98.80B	94.23B	66.83B	64.32B	58.99B	54.97B
EBITDA	42.18B	41.09B	30.77B	29.35B	26.93B	24.98B
Net Income	24.67B	23.31B	19.37B	16.88B	14.24B	12.70B
Balance Sheet
Total Assets	455.94B	439.57B	240.96B	229.56B	219.15B	196.34B
Cash, Cash Equivalents and Short-Term Investments	53.88B	55.25B	57.80B	53.73B	57.91B	57.86B
Total Debt	135.44B	21.20B	6.64B	7.19B	7.25B	7.49B
Total Liabilities	224.37B	233.85B	59.45B	60.65B	58.92B	50.84B
Stockholders Equity	230.19B	204.15B	180.70B	168.35B	160.20B	145.45B
Cash Flow
Free Cash Flow	38.42B	27.99B	17.84B	15.19B	15.09B	19.47B
Operating Cash Flow	42.87B	34.12B	20.81B	17.84B	19.44B	22.98B
Investing Cash Flow	-3.38B	-134.63B	-1.27B	-12.54B	-14.48B	-11.07B
Financing Cash Flow	-31.04B	119.70B	-15.40B	-13.77B	-3.39B	-7.99B

Miura Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2920.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6005, the sentiment is Positive. The current price of 2920 is below the 20-day moving average (MA) of 3177.53, below the 50-day MA of 3147.78, and below the 200-day MA of 2989.24, indicating a bullish trend. The MACD of -33.38 indicates Positive momentum. The RSI at 55.76 is Neutral, neither overbought nor oversold. The STOCH value of 74.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6005.

Miura Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6237	76 Outperform	¥64.73B	14.88	―	2.79%	2.85%	3.17%
6381	75 Outperform	¥69.80B	16.94	―	3.95%	-1.67%	-4.39%
6498	72 Outperform	¥187.69B	16.40	10.44%	2.77%	2.74%	7.86%
6376	70 Outperform	¥149.70B	11.89	8.17%	2.04%	1.48%	58.59%
6363	70 Outperform	¥69.83B	14.83	―	3.09%	6.35%	-34.20%
6005	67 Neutral	¥363.73B	15.13	―	2.26%	31.34%	15.87%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Miura Co., Ltd. Corporate Events

Miura Lifts Full-Year Outlook on Strong Nine-Month Earnings and Higher Equity Ratio

Miura Co., Ltd. reported strong consolidated financial results for the nine months ended December 31, 2025, with revenue up 7.3% to ¥188.1 billion and operating profit rising 24.9% to ¥21.7 billion, driven in part by higher profit contributions from equity-method investments. Profit attributable to owners of the parent jumped 44.2% to ¥20.1 billion, while total equity attributable to owners increased and the equity ratio improved to 50.5%, underscoring a stronger balance sheet.

The company kept its dividend forecast unchanged, planning a full-year dividend of ¥67 per share for the fiscal year ending March 31, 2026, up from ¥61 in the previous year, signaling ongoing shareholder returns alongside earnings growth. Miura also raised its full-year forecast, now expecting revenue of ¥266.5 billion and a 20.8% increase in operating profit, indicating confidence in sustained performance momentum and the benefits of finalized accounting treatments for recent business combinations and equity-method investments.

The most recent analyst rating on (JP:6005) stock is a Buy with a Yen4014.00 price target. To see the full list of analyst forecasts on Miura Co., Ltd. stock, see the JP:6005 Stock Forecast page.