Modec Inc (JP:6269)
:6269
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Modec
(6269)
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Rating:57Neutral
Price Target:
¥10,309.00
▼(-31.59% Downside)
Action:Reiterated
Date:05/15/26
The score is anchored by improved financial performance (strong recent margins, deleveraging, and high-quality free cash flow). This is materially offset by weak technicals (below key moving averages with negative MACD) and very poor valuation on P/E, with only a modest dividend yield.
Positive Factors
Strong free cash flow
Consistent high FCF (TTM ~640M) and near-1.0 FCF-to-net-income indicate durable cash generation and earnings quality. This supports funding charters, maintenance capex and debt servicing without reliance on frequent external financing, strengthening long-term resilience.
Negative Factors
Cyclicality and past losses
Historical swings into losses demonstrate exposure to upstream capex cycles and project timing. This structural cyclicality makes multi‑period earnings and cash forecasts uncertain and raises the probability of recurring downturns absent sustained project wins.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Consistent high FCF (TTM ~640M) and near-1.0 FCF-to-net-income indicate durable cash generation and earnings quality. This supports funding charters, maintenance capex and debt servicing without reliance on frequent external financing, strengthening long-term resilience.
Read all positive factors
Modec (6269) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥675.08B
Dividend Yield0.73%
Average Volume (3M)3.74M
Price to Earnings (P/E)10.6
Beta (1Y)1.10
Revenue Growth11.58%
EPS Growth87.17%
CountryJP
Employees5,962
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)5.84
Shares Outstanding68,345,300
10 Day Avg. Volume2,347,940
30 Day Avg. Volume3,737,503
Financial Highlights & Ratios
PEG Ratio42.14
Price to Book (P/B)559.58
Price to Sales (P/S)185.93
P/FCF Ratio3.60K
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)878.35
Revenue Forecast (FY)¥661.49B
Modec Business Overview & Revenue Model
Company Description
MODEC, Inc. operates worldwide as a primary contractor, specializing in the entire process from engineering and procurement to construction and installation of advanced floating production systems. Its extensive portfolio encompasses a variety of ...
How the Company Makes Money
MODEC makes money primarily by providing offshore oil and gas operators with floating production systems and related services across the asset lifecycle. Key revenue streams include: (1) Engineering, Procurement, Construction and Installation (EPC...
Modec Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
76
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.73B | 4.37B | 4.21B | 3.60B | 2.77B | 3.90B |
| Gross Profit | 608.60M | 533.31M | 394.81M | 251.88M | 69.01M | -225.36M |
| EBITDA | 544.45M | 563.00M | 208.75M | 105.59M | -12.04M | -305.44M |
| Net Income | 399.42M | 344.30M | 221.52M | 97.11M | 37.79M | -363.69M |
Balance Sheet | ||||||
| Total Assets | 4.84B | 4.76B | 4.51B | 3.93B | 3.19B | 3.43B |
| Cash, Cash Equivalents and Short-Term Investments | 1.95B | 1.33B | 1.25B | 1.02B | 501.10M | 811.09M |
| Total Debt | 418.83M | 420.36M | 570.86M | 593.14M | 460.06M | 449.24M |
| Total Liabilities | 3.30B | 3.29B | 3.31B | 2.89B | 2.33B | 2.87B |
| Stockholders Equity | 1.51B | 1.45B | 1.18B | 1.00B | 825.61M | 533.17M |
Cash Flow | ||||||
| Free Cash Flow | 639.88M | 225.94M | 528.59M | 480.88M | -218.80M | 117.38M |
| Operating Cash Flow | 647.85M | 232.95M | 540.42M | 488.38M | -211.82M | 145.43M |
| Investing Cash Flow | 5.25M | 5.28M | -157.65M | -211.62M | -54.09M | -210.68M |
| Financing Cash Flow | -208.61M | -185.42M | -139.93M | 242.39M | -53.25M | 254.07M |
Modec Technical Analysis
Negative
15070.00
Price Trends
12015.38
Negative
13156.29
Negative
11885.80
Negative
Market Momentum
-607.85
Negative
38.98
Neutral
45.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6269, the sentiment is Negative. The current price of 15070 is above the 20-day moving average (MA) of 10208.95, above the 50-day MA of 12015.38, and above the 200-day MA of 11885.80, indicating a bearish trend. The MACD of -607.85 indicates Negative momentum. The RSI at 38.98 is Neutral, neither overbought nor oversold. The STOCH value of 45.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6269.
Modec Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥421.17B | 7.99 | 8.62% | 2.95% | -12.53% | -33.99% | |
67 Neutral | ¥4.04T | 10.51 | 8.54% | 2.91% | -10.41% | -9.73% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | ¥1.57T | 9.10 | 2.23% | 3.07% | -11.80% | 87.51% | |
62 Neutral | ¥3.35T | 12.94 | -0.15% | 2.74% | -4.52% | 19.27% | |
59 Neutral | ¥603.27B | 8.08 | ― | 3.93% | -4.37% | 35.11% | |
57 Neutral | ¥675.08B | 10.61 | 24.31% | 0.73% | 11.58% | 87.17% |
* Energy Sector Average
JP:6269
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Modec Corporate Events
MODEC Delivers Strong Q1 2026 Earnings and Signals Higher Dividend
May 13, 2026
MODEC reported a strong start to 2026, with first-quarter revenue up 23.4% year on year to $1.08 billion and operating profit surging 63.2%, driving profit attributable to owners of the parent up 78.2% and lifting its equity ratio to 31.2%. Manage...
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.