Marumae Co., Ltd. (6264) AI Stock Analysis

• Market Cap: ¥35.00B
• Dividend Yield: 2.04%
• Average Volume (3M): 210.97K
• Price to Earnings (P/E): 23.4
• Beta (1Y): 1.28
• Revenue Growth: 140.12%
• EPS Growth: 6842.82%
• Country: JP
• Employees: 198
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 34.32
• Shares Outstanding: 13,053,000
• 10 Day Avg. Volume: 333,440
• 30 Day Avg. Volume: 210,966
• PEG Ratio: <0.01
• Price to Book (P/B): 2.50
• Price to Sales (P/S): 1.79
• P/FCF Ratio: 13.05
• 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: 73 Outperform
• Price Target: ¥3,049.00 ▲(65.08% Upside)

The score is primarily driven by strong financial performance (sharp revenue growth and improved margins), offset by higher leverage and some cash flow volatility. Technicals are supportive due to strong momentum and the price being above major moving averages, but elevated RSI/Stoch signals near-term overextension risk. Valuation is reasonable but not especially cheap, with a modest dividend yield.

Positive Factors

Strong revenue and margin improvement

A 31% revenue uplift accompanied by materially higher gross and net margins signals durable demand and improving pricing or cost structure in core semiconductor materials. Sustained margin expansion enhances reinvestment capacity for R&D and product development over the medium term.

Solid cash conversion of earnings

Two-thirds conversion of net income to operating cash and roughly half to free cash flow indicate the business reliably turns profits into cash. That strengthens funding for capex, working capital and R&D without immediate reliance on equity issuance, supporting medium-term operational stability.

Healthy return on equity

A ROE around 16.6% shows management effectively deploying shareholder capital to generate profits. Persistent above-market ROE suggests competitive advantages or asset efficiency that can compound shareholder value if maintained through steady demand and disciplined capital allocation.

Negative Factors

Elevated leverage ratio

A D/E of 1.66 materially raises fixed obligations and interest exposure, reducing financial flexibility. High leverage can constrain investments or dividend policy, amplify downside in cyclical semiconductor markets, and increase refinancing risk over the next several quarters.

Volatility in revenue and free cash flow

Historic swings in revenue and FCF reduce predictability of earnings and free cash generation, complicating long-range planning for capex and R&D. Structural volatility raises forecasting risk and may force conservative capital policies, limiting growth investments over the medium term.

Moderate equity ratio limits buffer

An equity ratio near 32% offers a smaller solvency cushion versus peers, making the firm more sensitive to asset write-downs or cyclical revenue shocks. Lower equity share can elevate capital costs and reduce borrowing headroom for strategic investments in downturns.

Marumae Co., Ltd. Business Overview & Revenue Model

Company Description

Marumae Co., Ltd. (6264) is a Japanese company primarily engaged in the manufacturing and sales of various electronic components and materials. Operating across sectors such as semiconductor materials, electronic devices, and industrial equipment, the company focuses on innovation and quality to serve a diverse clientele in the technology and manufacturing industries. Its core products include high-performance materials used in semiconductor production, as well as specialized equipment designed to enhance production efficiency.

How the Company Makes Money

Marumae Co., Ltd. generates revenue through the sale of its electronic components and materials to various industries, including semiconductor and electronics manufacturing. The company has established key revenue streams from the supplying of high-purity chemicals and other specialized materials essential for semiconductor fabrication. Additionally, Marumae engages in partnerships with leading technology firms, enhancing their product offerings and market reach. Their revenue model is further supported by ongoing research and development efforts that lead to innovative products, thereby attracting new clients and expanding their market share.

Marumae Co., Ltd. Financial Statement Overview

Summary

Strong latest-year revenue growth (+31.48%) and improved profitability (gross margin 30.01%, net margin 11.89%) support a high score. This is tempered by higher leverage (debt-to-equity 1.66) and volatility in prior revenue and free cash flow growth.

Income Statement

Marumae Co., Ltd. has demonstrated strong revenue growth with a 31.48% increase in the latest year, significantly improving from previous periods. The gross profit margin improved to 30.01%, and the net profit margin increased to 11.89%, indicating enhanced profitability. The EBIT and EBITDA margins also show strong operational efficiency. However, the company experienced a revenue decline in prior years, which could indicate volatility.

Balance Sheet

The company's debt-to-equity ratio has increased to 1.66, suggesting higher leverage, which could pose financial risk. However, the return on equity is a healthy 16.63%, indicating effective use of equity to generate profits. The equity ratio stands at 32.06%, reflecting a balanced capital structure but with room for improvement in reducing debt levels.

Cash Flow

Marumae Co., Ltd. has shown a positive operating cash flow to net income ratio of 0.66, indicating good cash generation relative to net income. The free cash flow to net income ratio is 0.51, suggesting a solid conversion of earnings to cash. However, the free cash flow growth rate has been volatile, with significant fluctuations in previous years.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.40B	11.40B	4.75B	6.87B	8.59B	5.37B
Gross Profit	3.55B	3.55B	832.00M	1.58B	3.16B	1.82B
EBITDA	3.22B	3.22B	1.01B	2.04B	3.28B	1.85B
Net Income	1.36B	1.36B	19.59M	706.58M	1.82B	902.70M
Balance Sheet
Total Assets	25.42B	25.42B	11.46B	11.61B	12.55B	9.74B
Cash, Cash Equivalents and Short-Term Investments	4.25B	4.25B	3.03B	3.50B	3.01B	2.51B
Total Debt	13.53B	13.53B	3.48B	3.52B	3.25B	2.35B
Total Liabilities	17.27B	17.27B	4.30B	4.14B	5.25B	3.42B
Stockholders Equity	8.15B	8.15B	7.16B	7.47B	7.30B	6.33B
Cash Flow
Free Cash Flow	0.00	1.56B	-69.19M	762.74M	483.30M	248.66M
Operating Cash Flow	0.00	3.06B	431.77M	2.25B	2.23B	1.06B
Investing Cash Flow	0.00	-9.71B	-504.28M	-1.49B	-1.74B	-809.89M
Financing Cash Flow	0.00	7.88B	-395.07M	-286.70M	8.07M	-291.40M

Marumae Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1847.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6264, the sentiment is Positive. The current price of 1847 is below the 20-day moving average (MA) of 2481.85, below the 50-day MA of 2169.70, and above the 200-day MA of 1712.85, indicating a bullish trend. The MACD of 165.35 indicates Negative momentum. The RSI at 67.27 is Neutral, neither overbought nor oversold. The STOCH value of 71.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6264.

Marumae Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6378	80 Outperform	¥25.24B	11.93	―	3.34%	2.10%	4.99%
6264	73 Outperform	¥35.00B	23.36	―	2.04%	140.12%	6842.82%
6496	69 Neutral	¥23.50B	14.72	―	1.82%	34.70%	-8.44%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
6469	62 Neutral	¥33.28B	37.51	―	0.45%	13.61%	94.37%
6203	53 Neutral	¥17.06B	53.81	―	1.73%	26.09%	―
6293	46 Neutral	¥17.01B	-20.71	―	4.21%	2.79%	-281.15%

Marumae Co., Ltd. Corporate Events

Marumae to Book ¥957 Million in Extraordinary Subsidy Income for FY2026 Q2

Marumae Co., Ltd. has announced that it will book approximately 957 million yen in extraordinary income in its consolidated results for the second quarter of the fiscal year ending August 31, 2026, after receiving a grant under the Ministry of Economy, Trade and Industry’s program to promote domestic investment and strengthen supply chains. The company is still assessing the full impact of this subsidy on its earnings forecast for the full fiscal year, signaling a potentially meaningful boost to profitability and underscoring its role in Japan’s policy push to reinforce domestic industrial and supply-chain resilience.

The most recent analyst rating on (JP:6264) stock is a Buy with a Yen3077.00 price target. To see the full list of analyst forecasts on Marumae Co., Ltd. stock, see the JP:6264 Stock Forecast page.

Marumae Completes Disposal of Treasury Shares for Restricted Stock Compensation

Marumae Co., Ltd. has completed the payment procedures for disposing of a portion of its treasury shares as restricted stock compensation, following a resolution by its Board of Directors in December 2025. The transaction involves 12,993 common shares allocated to three internal directors (excluding outside directors and audit committee members), at a disposal price of 1,847 yen per share for a total of approximately 24 million yen, using monetary compensation claims contributed in kind. The move underscores the company’s continued use of equity-based compensation to align management incentives with shareholder interests and support long-term corporate value creation.

The most recent analyst rating on (JP:6264) stock is a Hold with a Yen2022.00 price target. To see the full list of analyst forecasts on Marumae Co., Ltd. stock, see the JP:6264 Stock Forecast page.

Marumae’s Q1 FY2026 Sales More Than Double but Margins Narrow on Rising Costs

Marumae Co., Ltd. reported a sharp year-on-year increase in net sales for the first quarter of FY2026, with revenue more than doubling to 4.24 billion yen on a consolidated basis, reflecting strong demand for its vacuum components. Despite the top-line growth, profitability metrics softened as cost of sales and SG&A expenses rose faster than revenue—driven by higher material, outsourcing, labor and personnel costs as well as goodwill amortization—resulting in a lower operating margin and a more modest 41% increase in profit attributable to owners of the parent, signaling both solid business expansion and growing cost pressures that stakeholders will need to monitor.

The most recent analyst rating on (JP:6264) stock is a Hold with a Yen2022.00 price target. To see the full list of analyst forecasts on Marumae Co., Ltd. stock, see the JP:6264 Stock Forecast page.

Marumae Posts Solid Q1 Earnings and Confirms 2026 Forecasts with Higher Dividends

Marumae Co., Ltd. reported consolidated results for the three months ended November 30, 2025, with net sales of ¥4,244 million, operating profit of ¥701 million, ordinary profit of ¥655 million and profit attributable to owners of parent of ¥434 million, reflecting a solid earnings base as it transitions to full quarterly consolidated reporting. The company’s financial position remained stable, with total assets of ¥25,759 million and an equity ratio of 32.2%, while it maintained previously announced guidance for the fiscal year ending August 31, 2026, projecting full-year net sales of ¥17.2 billion and profit attributable to owners of parent of ¥1.7 billion, along with a sizeable planned dividend increase to an annual ¥56 per share, signaling confidence in earnings growth and a continued commitment to shareholder returns.

The most recent analyst rating on (JP:6264) stock is a Hold with a Yen2022.00 price target. To see the full list of analyst forecasts on Marumae Co., Ltd. stock, see the JP:6264 Stock Forecast page.

Marumae to Grant Restricted Treasury Shares to Directors as Performance-Linked Compensation

Marumae Co., Ltd. has resolved to dispose of 12,993 shares of its treasury stock as restricted stock compensation to three internal directors, with a total value of approximately ¥24 million, effective January 9, 2026. This move is part of an existing restricted stock compensation plan aimed at incentivizing sustainable enhancement of corporate value and strengthening the alignment of interests between directors and shareholders, with transfer restrictions in place until a director’s resignation and provisions for forfeiture or early release of restrictions in cases such as unjustified resignations or corporate restructuring, all at a price set to match the latest market closing level to avoid preferential treatment.

The most recent analyst rating on (JP:6264) stock is a Hold with a Yen1774.00 price target. To see the full list of analyst forecasts on Marumae Co., Ltd. stock, see the JP:6264 Stock Forecast page.

Marumae Co., Ltd. to Absorb Subsidiary KMX Co., Ltd. for Operational Efficiency

Marumae Co., Ltd. announced its decision to absorb its wholly-owned subsidiary, KMX Co., Ltd., effective January 1, 2026. This merger aims to enhance management efficiency by consolidating resources and integrating operations. The merger, classified as a simplified absorption-type, will not involve any share allotment or monetary consideration, as KMX Co., Ltd. is already fully owned by Marumae. This strategic move is expected to streamline operations and potentially strengthen Marumae’s position in the precision machinery industry.

The most recent analyst rating on (JP:6264) stock is a Hold with a Yen1774.00 price target. To see the full list of analyst forecasts on Marumae Co., Ltd. stock, see the JP:6264 Stock Forecast page.