Fuji (6134) AI Stock Analysis

• Market Cap: $367.27B
• Dividend Yield: 2.22%
• Average Volume (3M): 246.13K
• Price to Earnings (P/E): 23.1
• Beta (1Y): 1.10
• Revenue Growth: 12.95%
• EPS Growth: 46.98%
• Country: JP
• Employees: 2,911
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 37.61
• Shares Outstanding: 97,823,746
• 10 Day Avg. Volume: 287,850
• 30 Day Avg. Volume: 246,133
• PEG Ratio: 2.14
• Price to Book (P/B): 0.87
• Price to Sales (P/S): 1.50
• P/FCF Ratio: 21.46
• Enterprise Value/Market Cap: 0.75
• Enterprise Value/Revenue: 2.01
• Enterprise Value/Gross Profit: 5.63
• Enterprise Value/Ebitda: 13.20
• 1Y Price Target: $4,176.73
• Price Target Upside: 9.68% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ¥4,440.00 ▲(16.60% Upside)

The score is mainly supported by strong financial stability (debt-free balance sheet) and positive trend signals from moving averages. It is held back by multi-year margin compression and only modest growth, plus overbought technical readings and a P/E that looks demanding relative to recent operating momentum.

Positive Factors

Debt-free balance sheet

An essentially debt-free balance sheet materially reduces financial risk and preserves capital flexibility over cycles. This durable strength supports funding for R&D, spare-parts inventories, selective capex or M&A, and helps the company weather weaker electronics investment periods without refinancing stress.

Recurring aftermarket and software revenue

A business model combining capital equipment sales with recurring aftermarket services, spare parts and software creates more predictable lifecycle revenue. Over months, installed-base revenue cushions capital expenditure volatility, supports margins, and strengthens customer stickiness and lifetime value.

Positive operating cash flow and FCF rebound

Operating cash generation outpacing net income and a recent FCF rebound improve the firm's ability to self-fund maintenance, service networks, and incremental R&D. While conversion is moderate, sustained positive cash flow enhances durability of dividends, aftermarket investment, and balance sheet resilience.

Negative Factors

Multi-year margin compression

A sustained decline in margins erodes the company’s ability to generate high returns on capital and reduces internal funding for strategic initiatives. If driven by structural pricing pressure or cost changes, this trend can compress long-term profitability and limit reinvestment and shareholder return capacity.

Choppy revenue growth tied to cycle

Inconsistent top-line growth tied to electronics investment cycles limits scale economies and makes planning for capacity and R&D harder. Modest growth after a sharp decline suggests the company may face structural demand volatility, constraining long-term margin recovery and revenue predictability.

Volatile and moderate free cash flow conversion

Inconsistent FCF conversion reduces the firm’s dependable internal funding for capex, aftermarket expansion, or shareholder returns. Volatility heightens exposure to downturns and can force reliance on operational performance or restructuring to sustain long-term investments and strategic initiatives.

Fuji Business Overview & Revenue Model

Company Description

Fuji Corporation manufactures and sells machines and machine tools in Japan. The company operates through Robotic Solutions and Machine Tools segment. It offers SMT equipment, including mounters, printers, inserters, automatic warehouses, software, and automatic maintenance units. In addition, the company provides machine tools comprising of LAPSYS, GYROFLEX, and DLFn, modular production equipment. Further, the company offers multijoint robot, such as robot cell series, SCARA, and articulated robot. Additionally, the company provides mobility support robot, atmospheric pressure plasma unit, and public stocker system. The company was formerly known as Fuji Machine Mfg. Co., Ltd. and changed its name to Fuji Corporation in April 2018. Fuji Corporation was founded in 1959 and is headquartered in Chiryu, Japan.

How the Company Makes Money

Fuji makes money through the sale of its electronic assembly equipment and machine tools, which are used in various industries such as electronics manufacturing and automotive production. The company's revenue streams include the sales of these machines, after-sales services, and maintenance contracts. Significant partnerships with manufacturers and technology companies also play a role in its earnings, as these collaborations often lead to the integration of Fuji's equipment in large-scale production lines, thereby increasing sales volume. Additionally, Fuji's focus on R&D and innovation helps maintain its competitive edge in the market, attracting more clients and expanding its customer base.

Fuji Financial Statement Overview

Summary

Financial profile is resilient due to an essentially debt-free balance sheet (low financial risk) and consistent profitability. Offsetting this, margins have eroded versus 2021–2022 and revenue growth has been only modest recently; cash flow is improving but has been volatile with only moderate free-cash conversion.

Income Statement

Revenue has been choppy, with a sharp drop in 2023 followed by stabilization in 2024 and modest growth in 2025. Profitability remains solid but has clearly compressed versus earlier years: net margin is down to ~8.6% in 2025 (from ~13–14% in 2021–2022), and operating profitability has also stepped down from prior peaks. The positive is consistent profitability and decent operating margins, but the negative is the multi-year margin erosion and lack of strong top-line momentum.

Balance Sheet

The balance sheet is very strong with essentially no debt in recent years (debt-to-equity at 0.0), which materially reduces financial risk and adds resilience through cycles. Equity remains large relative to assets, supporting stability. The main drawback is returns on equity are modest (~5.0% in 2025), indicating the company is currently generating relatively low profit on its capital base compared with prior years (~9–10% in 2021–2022).

Cash Flow

Cash generation is positive, with operating cash flow exceeding net income in 2024–2025 (a supportive quality signal), and free cash flow rebounded strongly in 2025. However, free cash flow conversion is moderate in 2025 (free cash flow is ~38% of net income) and has been volatile across years, including a notably weak 2023. Overall, cash flow is healthy but not consistently strong enough to score at the top tier.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	137.86B	127.39B	127.06B	153.33B	148.13B	136.16B
Gross Profit	49.05B	46.64B	46.24B	60.65B	58.49B	50.70B
EBITDA	20.94B	26.57B	24.65B	39.11B	37.57B	32.29B
Net Income	13.95B	10.91B	10.44B	20.45B	21.19B	17.17B
Balance Sheet
Total Assets	245.67B	244.29B	250.94B	254.17B	243.31B	224.67B
Cash, Cash Equivalents and Short-Term Investments	59.55B	59.18B	64.65B	64.12B	67.06B	62.03B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	29.02B	25.61B	22.66B	29.06B	34.53B	30.12B
Stockholders Equity	216.52B	218.56B	228.16B	224.99B	208.66B	194.25B
Cash Flow
Free Cash Flow	0.00	8.89B	15.54B	2.20B	5.53B	22.94B
Operating Cash Flow	0.00	23.41B	30.19B	12.99B	15.72B	30.87B
Investing Cash Flow	0.00	-11.42B	-12.37B	-5.78B	-11.60B	-10.47B
Financing Cash Flow	0.00	-16.20B	-17.15B	-7.95B	-6.51B	-4.58B

Fuji Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3808.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6134, the sentiment is Positive. The current price of 3808 is below the 20-day moving average (MA) of 3876.50, above the 50-day MA of 3643.46, and above the 200-day MA of 2846.32, indicating a neutral trend. The MACD of 81.23 indicates Positive momentum. The RSI at 50.10 is Neutral, neither overbought nor oversold. The STOCH value of 11.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6134.

Fuji Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6407	76 Outperform	¥275.43B	21.86	―	2.50%	6.16%	17.11%
6481	70 Neutral	¥514.85B	80.62	1.88%	6.16%	1.98%	-48.28%
6134	69 Neutral	$367.27B	23.07	6.46%	2.22%	12.95%	46.98%
6268	65 Neutral	¥489.07B	31.41	5.25%	2.13%	-2.23%	130.96%
6324	64 Neutral	¥327.29B	69.57	5.62%	0.56%	6.22%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
6135	61 Neutral	¥275.28B	14.86	6.63%	0.91%	9.03%	10.76%

Fuji Corporate Events

Fuji Corporation Reports Strong Financial Growth in First Half of 2025

Fuji Corporation reported significant financial growth for the six months ending September 30, 2025, with net sales increasing by 26.3% and a notable rise in profit attributable to owners of the parent by 72.2%. This strong performance reflects the company’s robust market positioning and operational efficiency, signaling positive implications for stakeholders and enhancing its competitive edge in the industry.

The most recent analyst rating on (JP:6134) stock is a Buy with a Yen3300.00 price target. To see the full list of analyst forecasts on Fuji stock, see the JP:6134 Stock Forecast page.