SAMCO (6387) AI Stock Analysis

• Market Cap: ¥61.77B
• Dividend Yield: 1.36%
• Average Volume (3M): 128.03K
• Price to Earnings (P/E): 15.3
• Beta (1Y): 1.43
• Revenue Growth: 18.44%
• EPS Growth: 26.68%
• Country: JP
• Employees: 183
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 78.08
• Shares Outstanding: 8,042,881
• 10 Day Avg. Volume: 146,780
• 30 Day Avg. Volume: 128,026
• PEG Ratio: 0.89
• Price to Book (P/B): 1.70
• Price to Sales (P/S): 2.46
• P/FCF Ratio: 28.78
• 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: 75 Outperform
• Price Target: ¥8,111.00 ▲(76.52% Upside)
• Action: Reiterated Date: 03/18/26
• Date: Action: Reiterated 03/18/26

Score is primarily supported by strong financial performance (profitable growth and a very solid, low-debt balance sheet). Technicals remain bullish but are tempered by overbought signals that raise near-term risk. Valuation is reasonable on earnings but the dividend yield is low, limiting support from income/return of capital.

Positive Factors

Balance sheet strength

Very low leverage and a high equity ratio give SAMCO durable financial flexibility. This capital structure supports R&D and capex during downturns, reduces refinancing risk, and preserves capacity for strategic investment or opportunistic M&A over the medium term.

High margins

Sustained high gross and operating margins indicate differentiated, high-value equipment and pricing power. Strong margin structure supports reinvestment in product development, cushions against input cost swings, and underpins long-term profitability retention.

Consistent revenue growth

Multi-year revenue growth shows persistent end-market demand and successful market positioning in semiconductor processing equipment. Continued top-line expansion enables scale benefits, steady investment in product roadmap, and reinforces competitive standing.

Negative Factors

Cash conversion weakness

Profitability does not fully convert to cash, leaving less internally generated funding for capex, dividends, or cushioning cyclical downturns. Persistent conversion below parity raises reliance on careful working-capital management and constrains strategic flexibility.

Cyclicality exposure

Revenue and orders are tied to the capital spending cycles of semiconductor customers. This structural cyclicality causes lumpy demand and planning uncertainty, making multi-quarter visibility for bookings and utilization inherently limited.

Margin pressure risk

A recently noted dip in gross margin suggests emerging cost or pricing pressure. If sustained, it could erode operating leverage and require either pricing actions or efficiency gains to preserve current profitability levels over the medium term.

SAMCO Business Overview & Revenue Model

Company Description

SAMCO Inc. manufactures and sells operates as a semiconductor and materials company. The company primarily offers thin film deposition, microfabrication, cleaning, and surface treatment products. Its deposition systems include anode and cathode PECVD systems, atomic layer deposition systems, and silicon carbide (SiC) chemical vapor deposition systems; and etching systems comprise reactive ion etching systems, inductively coupled plasma (ICP) etch systems for general purpose, ICP etch systems for SiC etching, ICP etch systems for batch processing, silicon deep reactive ion etching systems, and XeF2 etch systems for MEMS release. The company also provides cleaning systems consisting of plasma cleaners, remote source plasma cleaners, and UV-ozone cleaners; and basic plasma research kits. It serves MEMS, laser diode, high brightness LED, TSV, SAW device, and RF device markets. The company was formerly known as SAMCO International, Inc. and changed its name to SAMCO Inc. in December 2004. SAMCO Inc. was founded in 1979 and is headquartered in Kyoto, Japan.

How the Company Makes Money

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SAMCO Financial Statement Overview

Summary

Strong fundamentals overall: income statement strength (85) driven by 13.66% revenue growth and solid profitability (gross margin 49.97%, net margin 18.17%), supported by a very healthy balance sheet (88) with low leverage (debt-to-equity 0.079) and high equity ratio (76.29%). Cash flow is comparatively weaker (78) with only moderate cash conversion (operating cash flow to net income 0.71; free cash flow to net income 0.66).

Income Statement

SAMCO demonstrates strong revenue growth with a 13.66% increase in the latest year, supported by solid gross and net profit margins of 49.97% and 18.17% respectively. The EBIT and EBITDA margins are also robust at 25.08% and 25.95%, indicating efficient operational performance. However, the slight decline in gross profit margin from the previous year suggests potential cost pressures.

Balance Sheet

The company maintains a healthy balance sheet with a low debt-to-equity ratio of 0.079, indicating prudent financial leverage. The return on equity is strong at 12.52%, reflecting effective use of shareholder funds. The equity ratio of 76.29% underscores a solid capital structure, providing stability and resilience against market fluctuations.

Cash Flow

SAMCO's cash flow performance is mixed, with a significant improvement in free cash flow growth. The operating cash flow to net income ratio of 0.71 suggests moderate cash generation efficiency. The free cash flow to net income ratio of 0.66 indicates a reasonable conversion of profits into cash, though there is room for improvement in cash flow management.

Breakdown	Jul 2025	Jul 2024	Jul 2023	Jul 2022	Jul 2021
Income Statement
Total Revenue	9.34B	8.20B	7.83B	6.40B	5.75B
Gross Profit	4.63B	4.16B	3.84B	3.15B	2.89B
EBITDA	2.43B	2.06B	1.90B	1.42B	1.04B
Net Income	1.70B	1.47B	1.37B	1.05B	755.82M
Balance Sheet
Total Assets	17.83B	16.20B	14.80B	13.38B	12.07B
Cash, Cash Equivalents and Short-Term Investments	6.98B	6.59B	5.30B	5.83B	4.83B
Total Debt	1.07B	1.11B	843.34M	886.17M	709.24M
Total Liabilities	4.27B	3.90B	3.65B	3.32B	2.66B
Stockholders Equity	13.56B	12.30B	11.14B	10.06B	9.41B
Cash Flow
Free Cash Flow	799.08M	1.39B	-208.25M	946.94M	-286.74M
Operating Cash Flow	1.21B	1.64B	-189.40M	1.18B	493.48M
Investing Cash Flow	-414.20M	-292.17M	-75.93M	-214.04M	-815.74M
Financing Cash Flow	-404.59M	-103.44M	-325.19M	-64.11M	-210.03M

SAMCO Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4595.00
• 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:6387, the sentiment is Positive. The current price of 4595 is below the 20-day moving average (MA) of 6461.00, below the 50-day MA of 5648.70, and above the 200-day MA of 3993.66, indicating a bullish trend. The MACD of 485.12 indicates Negative momentum. The RSI at 65.37 is Neutral, neither overbought nor oversold. The STOCH value of 75.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6387.

SAMCO Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6920	81 Outperform	¥3.16T	25.03	53.12%	1.11%	32.51%	57.19%
7735	78 Outperform	¥1.81T	15.60	21.73%	2.29%	11.29%	11.38%
6387	75 Outperform	¥61.77B	15.26	12.96%	1.36%	18.44%	26.68%
6146	75 Outperform	¥7.55T	35.55	25.78%	0.79%	13.45%	20.37%
8035	73 Outperform	$18.02T	33.18	26.01%	1.79%	16.74%	16.03%
6525	62 Neutral	¥1.29T	44.15	―	0.73%	10.98%	6.51%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

SAMCO Corporate Events

Samco Posts Higher First-Half Earnings and Affirms Full-Year Outlook

Samco Inc. reported non-consolidated net sales of ¥4,587 million for the six months ended January 31, 2026, an 11.3% year-on-year increase, with operating profit up 3.8% to ¥1,028 million and profit rising 5.1% to ¥751 million, lifting basic earnings per share to ¥93.52. Total assets reached ¥18,785 million and net assets ¥13,884 million, while the company maintained an equity-to-asset ratio of 73.9% and confirmed an unchanged full-year forecast calling for ¥10.2 billion in sales, modest profit growth, and an annual dividend of ¥60 per share, underscoring its commitment to stable shareholder returns.

For the full fiscal year ending July 31, 2026, Samco projects net sales of ¥10,200 million, up 9.2% year on year, with operating profit of ¥2,460 million and profit of ¥1,720 million, implying continued, but moderate, margin expansion. The maintained guidance and dividend outlook, alongside a stable share count and disciplined accounting approach, highlight management’s confidence in the business trajectory and support the company’s positioning as a financially solid, steadily growing industrial player for investors seeking reliability rather than aggressive growth.

The most recent analyst rating on (JP:6387) stock is a Buy with a Yen7034.00 price target. To see the full list of analyst forecasts on SAMCO stock, see the JP:6387 Stock Forecast page.