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SANDEN HOLDINGS
(6444)
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Rating:48Neutral
Price Target:
¥159.00
▲(9.66% Upside)
Action:Reiterated
Date:02/28/26
The score is held down mainly by pressured fundamentals—high leverage and persistently negative free cash flow—despite improving revenue and a return to slight profitability. Strong technical momentum supports the stock in the near term, but valuation is a headwind due to the very high P/E and lack of dividend yield data.
Positive Factors
Revenue growth and return to profitability
Consistent top-line growth from 2022–2025 and a return to slight net profit in 2025 signal improving demand and program traction with OEMs. Over a multi-quarter horizon this supports scale benefits, better fixed-cost absorption and a clearer path to durable operating leverage if revenue momentum continues.
Negative Factors
Very high leverage
A debt-to-equity ratio above 3x materially constrains financial flexibility for an auto-parts supplier exposed to cyclical OEM volumes. High leverage increases refinancing and interest-rate risk, limits capital allocation optionality, and makes the company more vulnerable to cyclical downturns or margin compression over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and return to profitability
Consistent top-line growth from 2022–2025 and a return to slight net profit in 2025 signal improving demand and program traction with OEMs. Over a multi-quarter horizon this supports scale benefits, better fixed-cost absorption and a clearer path to durable operating leverage if revenue momentum continues.
Read all positive factors
SANDEN HOLDINGS (6444) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥18.14B
Dividend YieldN/A
Average Volume (3M)97.61K
Price to Earnings (P/E)8.5
Beta (1Y)0.94
Revenue Growth7.82%
EPS GrowthN/A
CountryJP
Employees4,791
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)-40.84
Shares Outstanding112,933,310
10 Day Avg. Volume135,630
30 Day Avg. Volume97,606
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)0.56
Price to Sales (P/S)0.08
P/FCF Ratio-2.25
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)N/A
Revenue Forecast (FY)N/A
SANDEN HOLDINGS Business Overview & Revenue Model
Company Description
Operating internationally through its various subsidiaries, Sanden Corporation focuses on the production and distribution of automotive equipment systems. Their comprehensive range of automotive air-conditioning solutions encompasses full system u...
How the Company Makes Money
SANDEN HOLDINGS makes money mainly by selling products and solutions through its operating subsidiaries. Its core revenue stream is the automotive business, where it earns revenue from supplying automotive air-conditioning systems and components (...
SANDEN HOLDINGS Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
28
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 183.37B | 190.88B | 183.85B | 179.28B | 175.68B | 159.45B |
| Gross Profit | 26.95B | 28.20B | 25.46B | 20.44B | 20.39B | 13.06B |
| EBITDA | 4.72B | 10.64B | 7.81B | 2.17B | 4.99B | 32.68B |
| Net Income | -4.55B | 274.00M | -777.00M | -3.36B | -1.61B | 21.18B |
Balance Sheet | ||||||
| Total Assets | 176.45B | 185.63B | 175.46B | 162.54B | 157.43B | 151.19B |
| Cash, Cash Equivalents and Short-Term Investments | 16.67B | 18.13B | 17.89B | 22.75B | 18.62B | 27.54B |
| Total Debt | 79.26B | 81.70B | 73.37B | 62.13B | 55.33B | 48.59B |
| Total Liabilities | 158.01B | 157.50B | 151.87B | 141.70B | 134.06B | 127.35B |
| Stockholders Equity | 17.42B | 26.71B | 22.63B | 20.19B | 22.48B | 22.90B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -6.67B | -14.00B | -1.85B | -16.03B | -12.87B |
| Operating Cash Flow | 0.00 | 2.67B | -4.46B | 9.37B | -10.13B | -7.41B |
| Investing Cash Flow | 0.00 | -6.47B | -12.79B | -11.60B | -4.49B | -5.21B |
| Financing Cash Flow | 0.00 | 5.02B | 9.48B | 5.79B | 5.08B | 19.73B |
SANDEN HOLDINGS Technical Analysis
Positive
145.00
Price Trends
160.64
Positive
163.60
Negative
151.16
Positive
Market Momentum
0.15
Negative
52.32
Neutral
23.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6444, the sentiment is Positive. The current price of 145 is below the 20-day moving average (MA) of 158.40, below the 50-day MA of 160.64, and below the 200-day MA of 151.16, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 52.32 is Neutral, neither overbought nor oversold. The STOCH value of 23.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6444.
SANDEN HOLDINGS Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ¥415.01B | 10.70 | 8.36% | 2.71% | 2.88% | 213.02% | |
74 Outperform | ¥594.98B | 9.93 | 8.58% | 2.62% | 8.21% | 72.79% | |
68 Neutral | ¥5.32T | 11.78 | 6.98% | 2.98% | 5.28% | 12.90% | |
67 Neutral | ¥53.13B | 4.53 | ― | 0.99% | -0.22% | -2.99% | |
60 Neutral | ¥1.65T | 9.75 | 8.34% | 2.03% | 4.53% | 65.64% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ¥18.14B | 8.53 | -20.61% | ― | 7.82% | ― |
* General Sector Average
JP:6444
SANDEN HOLDINGS
163.00
46.00
39.32%
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SANDEN HOLDINGS Corporate Events
Sanden Completes Third-Party Allotment of 740,000 New Shares to Executives and Employees
Jun 25, 2026
Sanden Corporation has completed payment for a third-party allotment of 740,000 new common shares, approved by its board in mid-May and fully paid on June 25, 2026. The shares were issued at JPY 178 each, raising total proceeds of JPY 131.72 milli...
Sanden Sets Terms for Internal Third‑Party Share Allotment at Market‑Aligned Price
May 22, 2026
Sanden Corporation has set the terms for a previously approved third‑party allotment, fixing the issue price of 740,000 new common shares at ¥178 per share, for total proceeds of about ¥131.7 million. The entire allotment will be t...
Sanden Expands Performance-Linked Restricted Share Plan to Executives and Employees
May 14, 2026
Sanden Corporation has introduced a performance-linked restricted share compensation plan for certain executive officers and employees who are not directors, expanding a scheme already applied to internal directors. By using shares held by its par...
Sanden to Issue New Shares to Executives and Staff Under Performance-Linked Plan
May 14, 2026
Sanden Corporation has approved the issuance of up to 740,000 new common shares via a third-party allotment to one director, five executive officers and nine employees, with an estimated maximum proceeds amount of about JPY 132 million. The issue ...
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.