SANDEN HOLDINGS CORP (JP:6444)
:6444
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SANDEN HOLDINGS
(6444)
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Rating:48Neutral
Price Target:
¥165.00
▲(13.79% 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
Steady revenue growth
Sanden's consistent revenue expansion from 2022–2025 demonstrates durable demand for its products and scale gains across customer programs. Over a 2–6 month horizon this trend supports operating leverage potential, steadier supplier relationships and greater negotiating power with OEMs.
Negative Factors
High leverage
Sustained high leverage (≈3.16x) materially constrains financial flexibility and increases refinancing and interest-rate vulnerability. In an auto cyclical industry, this elevates solvency risk if volumes or margins deteriorate, limiting the company's ability to invest or pursue strategic initiatives without external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Sanden's consistent revenue expansion from 2022–2025 demonstrates durable demand for its products and scale gains across customer programs. Over a 2–6 month horizon this trend supports operating leverage potential, steadier supplier relationships and greater negotiating power with OEMs.
Read all positive factors
SANDEN HOLDINGS (6444) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥18.69B
Dividend YieldN/A
Average Volume (3M)97.61K
Price to Earnings (P/E)9.0
Beta (1Y)0.92
Revenue Growth7.82%
EPS GrowthN/A
CountryJP
Employees5,344
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)-40.84
Shares Outstanding112,193,310
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
Sanden Corporation, together with its subsidiaries, manufactures and sells automotive equipment systems in Japan and internationally. It offers automotive air-conditioning systems, including system products, condensers, evaporators, heater cores, ...
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 | 1.84B | 5.54B | -541.00M | -6.08B | -1.75B | -11.78B |
| 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
165.40
Positive
158.48
Positive
151.87
Positive
Market Momentum
-0.99
Negative
50.65
Neutral
76.77
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 166.60, below the 50-day MA of 165.40, and below the 200-day MA of 151.87, indicating a bullish trend. The MACD of -0.99 indicates Negative momentum. The RSI at 50.65 is Neutral, neither overbought nor oversold. The STOCH value of 76.77 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 | ¥399.81B | 6.65 | 8.36% | 2.71% | 2.88% | 213.02% | |
74 Outperform | ¥564.91B | 9.48 | 8.58% | 2.62% | 8.21% | 72.79% | |
68 Neutral | ¥5.25T | 11.64 | 6.98% | 2.98% | 5.28% | 12.66% | |
60 Neutral | ¥1.74T | 10.27 | 8.34% | 2.03% | 4.53% | 65.12% | |
57 Neutral | ¥61.28B | 5.26 | ― | 0.99% | -0.22% | -2.98% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ¥18.69B | 8.98 | -20.61% | ― | 7.82% | ― |
* General Sector Average
JP:6444
SANDEN HOLDINGS
167.00
46.00
38.02%
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SANDEN HOLDINGS Corporate Events
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 ...
Sanden Increases Authorized Share Capital to Enable Future Equity Issuance
Mar 31, 2026
Sanden Corporation has secured shareholder approval to partially amend its Articles of Incorporation by increasing the total number of authorized shares from 112,200,000 to 113,450,000. The change, which took effect on March 31, 2026, is intended ...
Sanden Wins Shareholder Approval for Performance-Linked Share Plan
Mar 31, 2026
Sanden Corporation has secured shareholder approval at its 100th Ordinary General Shareholders Meeting to introduce a performance-linked restricted share compensation plan for directors, excluding outside directors. The scheme is designed to tie d...
Sanden Revamps Management and Officer Lineup After 100th Shareholders’ Meeting
Mar 31, 2026
Sanden Corporation has overhauled its management structure following decisions taken at its 100th Ordinary General Meeting of Shareholders and the subsequent Board of Directors meeting on March 31, 2026. The company appointed Xu Zhan as representa...
Sanden Completes Director-Targeted Third-Party Share Allotment Worth ¥82.5 Million
Mar 23, 2026
Sanden Corporation has completed payment for a previously announced third-party allotment of new shares, marking the formal issuance of 500,000 shares of common stock. The allotment, priced at JPY 165 per share, raises total proceeds of JPY 82.5 m...
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.