Nikkiso Co., Ltd. (6376) AI Stock Analysis

• Market Cap: ¥103.66B
• Dividend Yield: 2.04%
• Average Volume (3M): 185.66K
• Price to Earnings (P/E): 10.6
• Beta (1Y): 0.93
• Revenue Growth: 1.48%
• EPS Growth: 58.59%
• Country: JP
• Employees: 8,337
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 20.73
• Shares Outstanding: 69,175,670
• 10 Day Avg. Volume: 215,040
• 30 Day Avg. Volume: 185,656
• PEG Ratio: -0.65
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 0.30
• P/FCF Ratio: -5.11
• 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: 74 Outperform
• Price Target: ¥1,988.00 ▲(26.06% Upside)

Nikkiso Co., Ltd. receives a strong overall score driven by its solid financial performance and attractive valuation. The technical analysis supports a positive outlook with bullish momentum. However, challenges in cash flow generation and a slight decline in return on equity are areas to watch.

Positive Factors

Diversified End Markets

Nikkiso's exposure to aerospace, medical and industrial end markets and its mix of equipment plus service contracts create multiple, less-correlated revenue streams. This diversification supports steadier demand through cycles and provides recurring revenue that helps sustain investment and R&D over the medium term.

Improving Gross Margins

Consistent revenue growth coupled with a material improvement in gross margin indicates better cost control and product mix. Higher gross margins enhance the company's ability to fund R&D, support aftermarket services, and weather pricing pressure, strengthening structural profitability over the coming quarters.

Stronger Balance Sheet

A lower debt-to-equity and near-45% equity ratio signal a more balanced capital structure, increasing financial flexibility. This reduces refinancing risk, supports capital expenditure for specialized equipment, and positions the company to pursue strategic partnerships or M&A without excessive leverage strain.

Negative Factors

Weak Return on Equity

A sub-6% ROE that is falling suggests the business is generating limited returns on shareholder capital. Persistently low ROE can reflect capital allocation inefficiencies or modest operating leverage, constraining shareholder value creation and making it harder to justify reinvestment without productivity gains.

Free Cash Flow Pressure

A large drop in free cash flow and weak cash conversion (OCF/net income 0.28) limit internal funding for growth, debt reduction, or dividends. Structural FCF weakness reduces strategic flexibility and increases reliance on external financing for capex or acquisitions over the medium term.

Compression of Net Margins

A declining net margin, even as gross margin rose, indicates rising SG&A, financing costs, or other operating pressures that erode bottom-line profits. Sustained margin compression would limit retained earnings for reinvestment and weaken resilience to input-cost shocks or competitive pricing pressure.

Nikkiso Co., Ltd. Business Overview & Revenue Model

Company Description

Nikkiso Co., Ltd. (6376) is a Japan-based company specializing in the manufacturing of precision equipment and systems primarily for the aerospace, medical, and industrial sectors. The company's core products include cryogenic pumps, gas and liquid pumps, and various components for medical applications, particularly in the fields of hemodialysis and blood purification. Nikkiso also provides integrated systems and solutions that leverage its technological expertise in fluid management and control.

How the Company Makes Money

Nikkiso generates revenue through the sale of its advanced pumping systems and components, which are utilized in a variety of high-demand applications across its target sectors. Key revenue streams include the sale of cryogenic pumps and systems to the aerospace and industrial markets, as well as medical equipment and consumables for healthcare facilities. Additionally, the company engages in service contracts and maintenance for its products, providing ongoing support to its customers. Strategic partnerships with major players in the aerospace and medical fields further enhance Nikkiso's market reach and contribute to its financial performance.

Nikkiso Co., Ltd. Financial Statement Overview

Summary

Nikkiso Co., Ltd. demonstrates a stable financial position with operational improvements. However, challenges in revenue growth and profitability persist. The balance sheet is robust with manageable leverage, and the cash flow statement shows positive trends in free cash flow growth.

Income Statement

Nikkiso Co., Ltd. shows a mixed performance in its income statement. The TTM (Trailing-Twelve-Months) gross profit margin is stable at 27.86%, indicating decent profitability. However, the net profit margin has decreased to 3.46%, reflecting challenges in converting revenue into profit. The revenue growth rate is negative at -1.13%, suggesting a decline in sales compared to the previous period. The EBIT and EBITDA margins have improved to 5.11% and 10.28% respectively, showing better operational efficiency.

Balance Sheet

The balance sheet of Nikkiso Co., Ltd. indicates moderate financial health. The debt-to-equity ratio is 0.75, which is reasonable and shows a balanced approach to leveraging. The return on equity (ROE) is 5.43%, which is modest and suggests room for improvement in generating returns for shareholders. The equity ratio stands at 45.37%, indicating a solid equity base relative to total assets.

Cash Flow

The cash flow statement reveals a positive trend with a significant free cash flow growth rate of 52.77% in the TTM. The operating cash flow to net income ratio is 0.20, indicating that operating cash flows are covering net income adequately. However, the free cash flow to net income ratio is 0.56, suggesting that a portion of earnings is not translating into free cash flow, which could be a concern for liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	213.95B	213.38B	192.63B	177.11B	167.76B	158.54B
Gross Profit	62.00B	58.00B	50.96B	45.64B	51.15B	52.10B
EBITDA	23.30B	17.60B	22.85B	43.50B	15.10B	18.92B
Net Income	11.10B	7.96B	9.07B	13.64B	221.00M	6.56B
Balance Sheet
Total Assets	328.35B	325.56B	296.23B	286.60B	298.96B	272.89B
Cash, Cash Equivalents and Short-Term Investments	32.53B	36.71B	32.30B	48.80B	29.36B	29.06B
Total Debt	105.06B	107.21B	81.05B	89.34B	147.46B	132.27B
Total Liabilities	178.82B	183.56B	169.94B	170.84B	204.76B	184.72B
Stockholders Equity	147.71B	140.07B	124.43B	114.23B	92.20B	86.32B
Cash Flow
Free Cash Flow	7.36B	-12.60B	4.81B	658.00M	-8.63B	-644.00M
Operating Cash Flow	13.24B	-6.57B	14.24B	8.38B	3.59B	12.48B
Investing Cash Flow	349.00M	-4.99B	-9.22B	76.76B	-14.56B	-12.53B
Financing Cash Flow	-14.72B	13.36B	-14.55B	-68.68B	9.45B	8.52B

Nikkiso Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1577.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6376, the sentiment is Positive. The current price of 1577 is below the 20-day moving average (MA) of 1618.22, above the 50-day MA of 1560.44, and above the 200-day MA of 1366.07, indicating a bullish trend. The MACD of 45.99 indicates Negative momentum. The RSI at 78.73 is Negative, neither overbought nor oversold. The STOCH value of 87.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6376.

Nikkiso Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6104	81 Outperform	¥96.28B	18.10	5.02%	3.23%	-10.00%	-51.92%
6455	78 Outperform	¥128.52B	12.30	―	2.25%	12.64%	34.19%
6376	74 Outperform	¥103.66B	10.59	8.17%	2.04%	1.48%	58.59%
6486	69 Neutral	¥144.91B	19.89	―	3.88%	1.70%	18.50%
6284	68 Neutral	¥92.93B	12.55	―	3.24%	18.70%	33.93%
6490	67 Neutral	¥124.84B	15.37	―	2.50%	-2.46%	-10.72%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Nikkiso Co., Ltd. Corporate Events

Nikkiso Revamps Board Lineup Ahead of March 2026 Shareholders’ Meeting

Nikkiso Co., Ltd. has announced a slate of director and Audit & Supervisory Board candidates to be submitted for approval at its 85th Ordinary General Meeting of Shareholders on March 27, 2026, signalling a measured refresh of its governance structure while maintaining continuity in top management. Representative Director, President and CEO Koichi Kato and several incumbent directors, including independent outside directors, are nominated for reelection, while Executive Officer and Head of Corporate Unit Masaharu Murakami is set to join the board as a new director and Hiroaki Asakura, currently a director and general manager at the company’s Chinese dialysis equipment affiliate, is nominated as a new Audit & Supervisory Board member. The company is also reappointing Naoshi Ogasawara as an outside Audit & Supervisory Board member and maintaining Makoto Suzuki as a substitute outside Audit & Supervisory Board member, while Chairman and Director Toshihiko Kai and Audit & Supervisory Board Member Motohiro Takeuchi are scheduled to retire on March 27, 2026, underscoring an orderly leadership transition and a continued emphasis on outside oversight in its governance framework.

The most recent analyst rating on (JP:6376) stock is a Hold with a Yen1695.00 price target. To see the full list of analyst forecasts on Nikkiso Co., Ltd. stock, see the JP:6376 Stock Forecast page.

Nikkiso Keeps Core Leadership Intact in 2026 Executive Lineup

Nikkiso Co., Ltd. announced a series of officer appointments and role confirmations effective January 1, 2026, as approved by its Board of Directors. The resolution largely maintains continuity in top management, with President and CEO Koichi Kato and key business heads in the medical, industrial, aerospace, corporate, and R&D units retaining their current positions, while formalizing Executive Officer status for Kazuhiko Sugimoto as head of the Medical Factory at the Kanazawa Plant. The move underscores organizational stability across Nikkiso’s main business segments and reinforces its governance structure as it continues to manage its diversified portfolio, including its U.S.-based cryogenic subsidiary, without signaling major strategic or operational shifts for stakeholders.

The most recent analyst rating on (JP:6376) stock is a Buy with a Yen1766.00 price target. To see the full list of analyst forecasts on Nikkiso Co., Ltd. stock, see the JP:6376 Stock Forecast page.

Nikkiso Co., Ltd. Completes Strategic Share Repurchase

Nikkiso Co., Ltd. announced the completion of a share repurchase transaction, acquiring 1,000,000 shares for 1,544,000,000 yen through the Tokyo Stock Exchange’s ToSTNeT-3 system. This move aims to enhance shareholder returns and improve capital efficiency, reflecting the company’s strategic focus on optimizing its financial structure and delivering value to its stakeholders.

The most recent analyst rating on (JP:6376) stock is a Buy with a Yen1780.00 price target. To see the full list of analyst forecasts on Nikkiso Co., Ltd. stock, see the JP:6376 Stock Forecast page.

Nikkiso Co., Ltd. Announces Strategic Share Repurchase Plan

Nikkiso Co., Ltd. has announced a share repurchase plan as part of its strategy to enhance capital efficiency and provide stable returns to shareholders. The company plans to buy back up to 1,000,000 shares, representing 1.51% of its outstanding shares, at a total cost of up to 1,544,000,000 yen. This move aligns with their medium-term business plan, aiming for a total payout ratio of 35% by 2025, and reflects their commitment to improving business profitability and shareholder value.

The most recent analyst rating on (JP:6376) stock is a Buy with a Yen1780.00 price target. To see the full list of analyst forecasts on Nikkiso Co., Ltd. stock, see the JP:6376 Stock Forecast page.

Nikkiso Reports Strong Profit Growth and Dividend Increase for Q3 2025

Nikkiso Co., Ltd. reported a modest increase in revenue for the nine months ending September 30, 2025, with significant improvements in operating profit and profit before tax compared to the previous year. The company also announced a dividend increase, reflecting its positive financial outlook and stable market position, despite excluding six subsidiaries from its consolidation scope.

The most recent analyst rating on (JP:6376) stock is a Buy with a Yen1780.00 price target. To see the full list of analyst forecasts on Nikkiso Co., Ltd. stock, see the JP:6376 Stock Forecast page.

Nikkiso Co., Ltd. Reports Strong Profit Growth Amid Strategic Changes

Nikkiso Co., Ltd. reported its consolidated financial results for the nine months ending September 30, 2025, showing a slight increase in revenue by 0.4% year-on-year, reaching 152,278 million yen. The company experienced significant growth in operating profit and profit before tax, with increases of 119.6% and 72.7% respectively, indicating improved operational efficiency and profitability. The company’s financial position strengthened with a rise in total equity and a higher ratio of equity attributable to owners of the parent. Nikkiso also announced a forecasted annual dividend increase, reflecting confidence in sustained financial performance. The exclusion of six subsidiaries from its financials marks a strategic shift, potentially impacting its future operations and market focus.

The most recent analyst rating on (JP:6376) stock is a Buy with a Yen1654.00 price target. To see the full list of analyst forecasts on Nikkiso Co., Ltd. stock, see the JP:6376 Stock Forecast page.