TSUKISHIMA HOLDINGS CO. LTD. (JP:6332)
:6332
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TSUKISHIMA HOLDINGS CO. LTD.
(6332)
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Rating:75Outperform
Price Target:
¥2,865.00
▲(1.49% Upside)
Action:Reiterated
Date:05/13/26
The score is driven primarily by strong valuation (low P/E with a dividend) and improving profitability with conservative leverage. This is tempered by the weakest area—cash flow—where 2026 shows sharply lower operating cash flow and very weak cash conversion, creating sustainability risk despite solid price trend support.
Positive Factors
Steady Revenue Growth
Consistent top-line growth across 2023–2026 indicates durable demand for the company’s plant engineering and services. A growing revenue base supports scale economics, steadier project pipelines, and underpins reinvestment and margin recovery potential over the next several quarters to years.
Negative Factors
Sharp OCF Decline
A large year-over-year drop in operating cash flow suggests significant working-capital swings or timing on collections that can impair liquidity. If sustained, weaker cash generation constrains funding for maintenance capex, backlog execution, and reduces margin credibility despite accounting profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Consistent top-line growth across 2023–2026 indicates durable demand for the company’s plant engineering and services. A growing revenue base supports scale economics, steadier project pipelines, and underpins reinvestment and margin recovery potential over the next several quarters to years.
Read all positive factors
TSUKISHIMA HOLDINGS CO. LTD. (6332) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥97.88B
Dividend Yield3.2%
Average Volume (3M)532.00K
Price to Earnings (P/E)5.9
Beta (1Y)0.89
Revenue Growth6.98%
EPS Growth164.25%
CountryJP
Employees3,517
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)207.04
Shares Outstanding40,125,800
10 Day Avg. Volume447,920
30 Day Avg. Volume532,000
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.12
Price to Sales (P/S)0.74
P/FCF Ratio26.78
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)187.75
Revenue Forecast (FY)¥155.65B
TSUKISHIMA HOLDINGS CO. LTD. Business Overview & Revenue Model
Company Description
Tsukishima Kikai Co., Ltd. provides systems and plant facilities for the industry, water, and wastewater facilities in Japan and internationally. The company offers plants, including incinerators for sewage treatment plants, as well as dehydrators...
How the Company Makes Money
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TSUKISHIMA HOLDINGS CO. LTD. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 139.95B | 148.95B | 139.24B | 124.20B | 97.78B | 93.08B |
| Gross Profit | 29.29B | 29.75B | 27.55B | 24.58B | 18.70B | 19.36B |
| EBITDA | 13.10B | 13.34B | 12.85B | 10.39B | 8.19B | 8.39B |
| Net Income | 8.92B | 16.91B | 6.67B | 2.67B | 4.21B | 8.17B |
Balance Sheet | ||||||
| Total Assets | 183.63B | 203.02B | 192.25B | 208.01B | 146.46B | 153.57B |
| Cash, Cash Equivalents and Short-Term Investments | 44.36B | 40.15B | 30.56B | 30.04B | 23.26B | 29.06B |
| Total Debt | 18.21B | 17.66B | 21.65B | 38.14B | 19.09B | 27.76B |
| Total Liabilities | 73.89B | 85.55B | 80.19B | 102.47B | 63.77B | 72.62B |
| Stockholders Equity | 92.63B | 98.19B | 93.06B | 87.35B | 81.18B | 79.50B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 4.12B | 17.71B | -7.96B | 6.17B | -13.81B |
| Operating Cash Flow | 0.00 | 5.16B | 18.46B | -5.63B | 8.23B | 812.00M |
| Investing Cash Flow | 0.00 | 27.17B | 1.43B | -2.77B | -2.82B | -5.37B |
| Financing Cash Flow | 0.00 | -21.64B | -20.47B | 7.44B | -11.56B | -628.00M |
TSUKISHIMA HOLDINGS CO. LTD. Technical Analysis
Negative
2823.00
Price Trends
2854.79
Negative
2969.60
Negative
2855.78
Negative
Market Momentum
-121.85
Positive
35.73
Neutral
17.62
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6332, the sentiment is Negative. The current price of 2823 is above the 20-day moving average (MA) of 2729.80, below the 50-day MA of 2854.79, and below the 200-day MA of 2855.78, indicating a bearish trend. The MACD of -121.85 indicates Positive momentum. The RSI at 35.73 is Neutral, neither overbought nor oversold. The STOCH value of 17.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6332.
TSUKISHIMA HOLDINGS CO. LTD. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥97.88B | 5.90 | ― | 3.20% | 6.98% | 164.25% | |
75 Outperform | ¥993.32B | 60.50 | 6.61% | 1.58% | -1.47% | -19.46% | |
75 Outperform | ¥240.03B | 18.20 | 9.02% | 3.11% | 9.57% | 40.16% | |
73 Outperform | ¥715.64B | 24.82 | ― | 1.43% | 8.81% | 17.58% | |
64 Neutral | ¥141.90B | 15.69 | 12.54% | 1.84% | 17.17% | 33.30% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | ¥218.76B | 20.35 | ― | 2.41% | 5.68% | -49.64% |
* Industrials Sector Average
JP:6332
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TSUKISHIMA HOLDINGS CO. LTD. Corporate Events
Tsukishima Holdings Raises Annual Dividend and Maps Out Higher Payout for FY 2027
May 12, 2026
Tsukishima Holdings Co., Ltd. has approved a year-end dividend of 43 yen per share for the fiscal year ended March 31, 2026, bringing the annual dividend to 85 yen per share, up from 78 yen in the previous fiscal year. The payout, funded from reta...
Tsukishima Holdings Updates Capital-Efficient Management Initiative
May 12, 2026
Tsukishima Holdings announced that its Board of Directors held an extraordinary meeting on May 12, 2026 to review and evaluate progress on its initiative to implement management practices conscious of cost of capital and stock price. The company u...
Tsukishima Holdings Delivers Record FY2025 Sales and Profit on Strong Industrial Business
May 12, 2026
Tsukishima Holdings reported record-high consolidated net sales and profits for fiscal 2025, with steady project progress in both its Water Environmental and Industrial businesses. Despite a decline in orders received due to a transition between l...
Tsukishima Holdings boosts profit and raises dividend as assets and cash grow
May 12, 2026
Tsukishima Holdings reported consolidated net sales of ¥148.95 billion for the fiscal year ended March 31, 2026, up 7% year on year, with operating profit rising 10.4% to ¥9.84 billion and ordinary profit up 7.2% to ¥10.99 billion. ...
Tsukishima Delays Final Deal on JFE Engineering Water Pipe Business Integration
Apr 23, 2026
Tsukishima Holdings has been in discussions to integrate JFE Engineering Corporation’s water supply steel pipe business, a move aimed at strengthening its position in water-related infrastructure and broadening its engineering portfolio. The...
Tsukishima Holdings Lifts Earnings Outlook and Dividend on Record Profit Forecast
Apr 23, 2026
Tsukishima Holdings revised its full-year forecast for the fiscal year ending March 31, 2026, projecting record-high net sales, operating profit, ordinary profit, and profit attributable to owners, driven by strong progress in executing its sizabl...
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.