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HOSHIZAKI
(6465)
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Rating:77Outperform
Price Target:
¥6,482.00
▲(13.60% Upside)
Action:Reiterated
Date:08/07/26
The score is driven primarily by strong financial quality—especially the exceptionally low leverage and solid profitability—partly offset by cash-flow volatility and some margin pressure. Technicals are supportive with the stock above key moving averages and neutral-to-positive momentum. Valuation is reasonable but not cheap given a ~20.9 P/E and a moderate ~2.1% dividend yield.
Positive Factors
Very low leverage / conservative balance sheet
Extremely low debt gives Hoshizaki durable financial flexibility: it can fund capex, R&D, and dividends from internal resources, absorb demand shocks without refinancing risk, and maintain investment-grade-like stability. This structural strength reduces solvency risk and supports long-term strategic execution.
Negative Factors
Volatile operating cash flow
Intermittent swings in operating cash flow and occasional negative free cash flow signal working-capital sensitivity and timing risk in equipment deliveries. Persistent volatility can constrain capital allocation, force precautionary liquidity buffers, and complicate forecasting for investment, dividends, and M&A over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / conservative balance sheet
Extremely low debt gives Hoshizaki durable financial flexibility: it can fund capex, R&D, and dividends from internal resources, absorb demand shocks without refinancing risk, and maintain investment-grade-like stability. This structural strength reduces solvency risk and supports long-term strategic execution.
Read all positive factors
HOSHIZAKI (6465) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥838.62B
Dividend Yield2.1%
Average Volume (3M)288.31K
Price to Earnings (P/E)20.7
Beta (1Y)0.76
Revenue Growth11.82%
EPS Growth-1.87%
CountryJP
Employees17,041
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)272.48
Shares Outstanding144,890,100
10 Day Avg. Volume279,050
30 Day Avg. Volume288,306
Financial Highlights & Ratios
PEG Ratio4.48
Price to Book (P/B)1.88
Price to Sales (P/S)1.52
P/FCF Ratio34.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥6,865.00Price Target Upside20.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)300.89
Revenue Forecast (FY)¥535.05B
HOSHIZAKI Business Overview & Revenue Model
Company Description
Hoshizaki Corporation is a global company engaged in the research, development, production, and sale of commercial-grade kitchen appliances and related equipment. Their extensive product portfolio includes ice makers, refrigeration and freezing un...
How the Company Makes Money
Hoshizaki makes money primarily by selling commercial foodservice equipment to business customers through a combination of direct sales and distributor/dealer channels, supported by after-sales service. The largest revenue driver is typically the ...
HOSHIZAKI Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 503.29B | 485.89B | 445.50B | 373.56B | 321.34B | 274.42B |
| Gross Profit | 188.19B | 181.44B | 166.45B | 136.06B | 111.70B | 99.69B |
| EBITDA | 76.40B | 72.50B | 68.13B | 56.01B | 40.77B | 36.50B |
| Net Income | 38.52B | 38.15B | 37.17B | 32.84B | 23.98B | 21.68B |
Balance Sheet | ||||||
| Total Assets | 583.49B | 575.65B | 543.94B | 465.36B | 423.90B | 378.47B |
| Cash, Cash Equivalents and Short-Term Investments | 158.35B | 177.09B | 239.03B | 254.53B | 226.06B | 240.72B |
| Total Debt | 24.42B | 6.39B | 9.05B | 2.74B | 1.90B | 757.00M |
| Total Liabilities | 167.78B | 161.73B | 161.26B | 132.42B | 131.40B | 118.61B |
| Stockholders Equity | 393.36B | 392.61B | 363.92B | 328.50B | 288.95B | 257.83B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 21.66B | 37.81B | 31.57B | 14.00M | 24.12B |
| Operating Cash Flow | 0.00 | 30.53B | 47.34B | 37.70B | 5.17B | 27.34B |
| Investing Cash Flow | 0.00 | -75.88B | -37.37B | 3.29B | 1.94B | 5.24B |
| Financing Cash Flow | 0.00 | -15.01B | -40.17B | -10.36B | -13.35B | -8.12B |
HOSHIZAKI Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥361.25B | 12.83 | ― | 2.21% | 5.85% | 15.51% | |
77 Outperform | ¥838.62B | 20.74 | 11.14% | 2.10% | 11.82% | -1.87% | |
74 Outperform | ¥289.66B | 9.27 | 11.15% | 3.85% | 13.51% | 48.95% | |
65 Neutral | ¥13.02B | 17.07 | ― | 2.71% | 7.41% | -18.23% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ¥267.71B | 14.62 | 9.52% | 1.33% | 10.77% | 147.98% |
* Industrials Sector Average
JP:6465
HOSHIZAKI
5,705.00
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-0.28%
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HOSHIZAKI Corporate Events
Hoshizaki to Implement Two-for-One Stock Split and Double Share Buyback Capacity
Aug 6, 2026
Hoshizaki Corporation will conduct a two-for-one stock split of its common shares, effective January 1, 2027, for shareholders of record on December 31, 2026, in a move aimed at enhancing share liquidity and broadening its investor base. Following...
Hoshizaki Delivers Strong First-Half Results and Maintains 2026 Outlook
Aug 6, 2026
Hoshizaki reported strong interim results for the six months to June 30, 2026, with net sales rising 14.7% year on year to ¥273.6 billion and operating profit up 7.3% to ¥32.7 billion. Adjusted operating profit increased 16.1%, and profi...
Hoshizaki Advances Major Share Buyback Program on Tokyo Stock Exchange
Aug 4, 2026
Hoshizaki Corporation has disclosed the latest status of its ongoing share buyback program, conducted under Article 459, Paragraph 1 of the Companies Act and its Articles of Incorporation. Between July 1 and July 31, 2026, the company repurchased ...
Hoshizaki Completes Third-Party Allotment of Treasury Shares to Japan Activation Capital Funds
Jul 9, 2026
Hoshizaki has completed the payment procedure for a disposal of treasury shares via third-party allotment, following a board resolution passed on June 16, 2026. The transaction is linked to a strategic partnership with Japan Activation Capital, ai...
Hoshizaki Advances Large-Scale Share Buyback Program
Jul 2, 2026
Hoshizaki Corporation reported on the progress of its ongoing treasury share buyback authorized by its board in February 2026 under provisions of the Companies Act and its Articles of Incorporation. The company is acquiring common shares via marke...
Hoshizaki Launches Share Buyback to Offset Dilution from Strategic Partnership
Jun 16, 2026
Hoshizaki Corporation has approved a new share buyback program to acquire up to 2,329,100 of its own common shares, representing about 1.6% of its outstanding stock excluding treasury shares. The purchases, capped at approximately ¥12.09 bill...
Hoshizaki Forms Strategic Partnership With JAC to Drive Global Growth and Capital Efficiency
Jun 16, 2026
Hoshizaki Corporation has entered into a strategic partnership with public equity investment fund Japan Activation Capital, Inc., aligning with a medium- to long-term strategy to enhance corporate value and accelerate global growth. As part of the...
Hoshizaki Advances ¥30 Billion Share Buyback, Repurchases 2.79 Million Shares
Jun 2, 2026
Hoshizaki Corporation reported progress on its ongoing share buyback program authorized by its board in February 2026 under Article 459 of the Companies Act, acquiring 728,400 common shares on the Tokyo Stock Exchange between May 1 and May 31 for ...
Hoshizaki Delivers Strong Q1 Results and Maintains 2026 Outlook
May 20, 2026
Hoshizaki reported solid first-quarter results for the three months to March 31, 2026, with net sales rising 14.7% year on year to ¥135.6 billion and operating profit up 10.9% to ¥17.0 billion. Adjusted operating profit climbed 19.0% to ...
Hoshizaki Completes Restricted Share Disposal With Minor Adjustment After Forfeiture
May 15, 2026
Hoshizaki Corporation has completed payment procedures for a restricted share-based remuneration plan involving the disposal of treasury shares to directors, executive officers, and directors of its wholly owned subsidiaries and sub-subsidiaries. ...
Hoshizaki Delivers Q1 Profit Growth and Confirms 2026 Outlook
May 15, 2026
Hoshizaki reported solid first-quarter results for the period ended March 31, 2026, with consolidated net sales rising 14.7% year on year to ¥135.6 billion and operating profit up 10.9% to ¥17.0 billion. Adjusted operating profit climbed...
Hoshizaki Director Passes Away, Board Remains in Compliance
May 7, 2026
Hoshizaki Corporation announced that board director Shiro Nishiguchi passed away on May 1, 2026, resulting in his resignation from the company’s board on the same date. The company expressed its condolences and gratitude for his service whil...
Hoshizaki Advances ¥30 Billion Share Buyback, Acquiring Over 2 Million Shares
May 7, 2026
Hoshizaki Corporation has continued its share buyback program authorized by its board in February 2026, acquiring 778,500 common shares on the Tokyo Stock Exchange between April 1 and April 30 for a total of about ¥4.0 billion. This brings th...
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.