HOSHIZAKI (6465) AI Stock Analysis

• Market Cap: $737.63B
• Dividend Yield: 2.09%
• Average Volume (3M): 288.31K
• Price to Earnings (P/E): 17.9
• Beta (1Y): 0.73
• Revenue Growth: 13.48%
• EPS Growth: 22.72%
• Country: JP
• Employees: 16,061
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 78.53
• Shares Outstanding: 144,890,100
• 10 Day Avg. Volume: 279,050
• 30 Day Avg. Volume: 288,306
• PEG Ratio: 1.73
• Price to Book (P/B): 2.48
• Price to Sales (P/S): 2.02
• P/FCF Ratio: 23.82
• Enterprise Value/Market Cap: 0.77
• Enterprise Value/Revenue: 1.23
• Enterprise Value/Gross Profit: 3.28
• Enterprise Value/Ebitda: 8.08
• 1Y Price Target: $6,132.78
• Price Target Upside: 20.46% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: ¥5,767.00 ▲(13.28% Upside)

The score is driven primarily by strong financial performance, led by an exceptionally conservative balance sheet and solid multi-year revenue recovery, with cash-flow consistency the main watch item. Technical signals are neutral-to-soft versus longer-term moving averages, and valuation appears reasonable with a moderate P/E and a supportive dividend yield.

Positive Factors

Revenue Growth

Strong revenue growth since 2020 indicates robust market demand and effective business strategies, enhancing long-term financial stability.

Balance Sheet Strength

A strong balance sheet with no leverage provides financial flexibility and reduces risk, supporting sustainable growth and resilience.

Strategic Expansion

Strategic acquisitions enhance market position and operational capabilities, driving long-term growth and competitive advantage.

Negative Factors

Margin Compression

Margin compression may indicate rising costs or pricing pressures, potentially impacting profitability if not managed effectively.

Cash Flow Volatility

Volatile cash flow relative to net income suggests potential working-capital issues, which could affect liquidity and financial planning.

Executive Changes

Frequent executive changes can disrupt strategic continuity and operational focus, potentially impacting long-term execution.

HOSHIZAKI Business Overview & Revenue Model

Company Description

Hoshizaki Corporation researches, develops, manufactures, and sells commercial kitchen appliances and equipment worldwide. It offers ice machines; refrigerators and freezers; commercial, rack conveyor, and commercial instrument dishwashers; tea, cold drink, cubelet ice, liquid, draft beer, and other dispensers; and steam convection ovens, electrolyzed water generators, sushi cases, display cases, electromagnetic cookers, blast chiller and schock freezers, etc. The company also sells gas equipment, kitchen S/S work tables and sinks, kitchen S/S shelves etc. It offers its products to food and beverage, healthcare, scientific research, restaurant, distribution, agriculture, fisheries, and other fields, as well as to cafeterias and other facilities. The company was formerly known as Hoshizaki Electric Co., Ltd. and changed its name to Hoshizaki Corporation in July 2016. Hoshizaki Corporation was incorporated in 1947 and is headquartered in Toyoake, Japan.

How the Company Makes Money

HOSHIZAKI Corporation generates revenue primarily through the sale of its commercial kitchen and food service equipment. The company's key revenue streams include the manufacturing and distribution of ice machines, refrigerators, freezers, and other related appliances. HOSHIZAKI's extensive distribution network and strategic partnerships with dealers and distributors globally enable it to reach a broad customer base across the hospitality, food service, and healthcare sectors. Additionally, the company may earn revenue from after-sales services and maintenance contracts, contributing to its overall earnings.

HOSHIZAKI Financial Statement Overview

Summary

Strong overall financial quality: revenue rebounded materially from 2020 to 2024 and margins remain healthy despite some 2024 margin compression. Balance sheet is fortress-like with essentially no debt and steadily rising equity; cash flow has improved in 2023–2024, but operating cash flow has been uneven versus net income, indicating potential working-capital volatility.

Income Statement

Revenue has rebounded strongly since 2020, rising from 238.3B (2020) to 445.5B (2024), with solid growth continuing in 2024 (+5.4%). Profitability is healthy and fairly consistent: gross margin stayed in the mid-to-high 30% range and EBIT margin remained in the low-teens, though 2024 EBIT/EBITDA margins stepped down versus 2023 (some margin compression). Net margin is stable around ~7–9% in recent years, supporting dependable earnings power.

Balance Sheet

The balance sheet is exceptionally conservative with essentially no leverage (total debt at or near zero in multiple years, including 2024). Equity has steadily expanded (240.5B in 2019 to 363.9B in 2024) alongside asset growth, indicating retained profitability and balance-sheet strengthening. Returns on equity are solid around ~10% in 2023–2024 (up from weaker 2020), with the main trade-off being that very low leverage can modestly cap upside in ROE during strong cycles.

Cash Flow

Cash generation improved meaningfully after a weak 2022 (low operating cash flow and negative free cash flow). In 2023–2024, operating cash flow and free cash flow recovered strongly (2024 free cash flow 37.8B; about 80% of net income), indicating profits are largely translating into cash again. The key watch item is that operating cash flow has been materially below net income across the period shown (coverage roughly ~0.05–0.37), suggesting working-capital swings or timing effects that can create volatility even when earnings look steady.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	465.94B	445.50B	373.56B	321.34B	274.42B	238.31B
Gross Profit	174.19B	166.45B	136.06B	111.82B	99.69B	89.05B
EBITDA	70.66B	62.62B	56.01B	40.77B	36.50B	22.79B
Net Income	39.62B	37.17B	32.84B	23.98B	21.68B	11.44B
Balance Sheet
Total Assets	547.11B	543.94B	465.36B	423.90B	378.47B	343.39B
Cash, Cash Equivalents and Short-Term Investments	225.86B	239.03B	254.53B	226.06B	240.72B	217.21B
Total Debt	18.89B	0.00	2.74B	1.90B	757.00M	703.00M
Total Liabilities	171.60B	161.27B	132.43B	131.40B	118.61B	103.68B
Stockholders Equity	356.62B	363.92B	328.50B	288.95B	257.83B	238.14B
Cash Flow
Free Cash Flow	0.00	37.81B	30.65B	-430.00M	23.91B	17.32B
Operating Cash Flow	0.00	47.34B	37.70B	5.17B	27.34B	20.73B
Investing Cash Flow	0.00	-37.37B	3.29B	1.94B	5.24B	-1.23B
Financing Cash Flow	0.00	-40.17B	-10.36B	-13.35B	-8.12B	-8.28B

HOSHIZAKI Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5091.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6465, the sentiment is Negative. The current price of 5091 is below the 20-day moving average (MA) of 5195.40, below the 50-day MA of 5183.54, and below the 200-day MA of 5355.98, indicating a bearish trend. The MACD of -47.90 indicates Positive momentum. The RSI at 44.61 is Neutral, neither overbought nor oversold. The STOCH value of 24.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6465.

HOSHIZAKI Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6420	80 Outperform	¥162.31B	12.25	―	1.94%	11.63%	3.32%
5982	77 Outperform	¥58.36B	12.00	―	3.43%	5.51%	13.00%
6016	75 Outperform	¥114.26B	26.67	―	0.55%	9.04%	-7.84%
6465	71 Outperform	$737.63B	17.91	11.14%	2.09%	13.48%	22.72%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
2883	51 Neutral	¥11.85B	-17.54	―	3.06%	-5.40%	-202.08%

HOSHIZAKI Corporate Events

HOSHIZAKI Increases Year-End Dividend Projection for 2025

HOSHIZAKI CORPORATION has revised its year-end dividend projection for the fiscal year ending December 2025, increasing the dividend per share from 55.00 yen to 65.00 yen, and the annual dividend from 105.00 yen to 115.00 yen. This decision reflects the company’s commitment to stable profit distribution and shareholder returns, aligning with its policy of maintaining a payout ratio of 40% or more while considering strategic investments and capital efficiency.

The most recent analyst rating on (JP:6465) stock is a Buy with a Yen6800.00 price target. To see the full list of analyst forecasts on HOSHIZAKI stock, see the JP:6465 Stock Forecast page.

Hoshizaki Corporation Reports Strong Sales Growth for Nine Months Ending September 2025

Hoshizaki Corporation reported a 10.3% increase in net sales for the nine months ending September 30, 2025, compared to the same period in 2024. Despite a slight decrease in comprehensive income, the company showed growth in operating profit and profit attributable to owners, reflecting a strong market position. The inclusion of new entities like Structural Concepts Corporation in its consolidation scope and changes in accounting policies have influenced these results. The company maintains a stable equity ratio and has announced a forecasted dividend increase, indicating confidence in its financial health and future performance.

The most recent analyst rating on (JP:6465) stock is a Buy with a Yen6800.00 price target. To see the full list of analyst forecasts on HOSHIZAKI stock, see the JP:6465 Stock Forecast page.

HOSHIZAKI Announces Strategic Executive Changes for 2026

HOSHIZAKI CORPORATION announced upcoming changes in its executive team, with new appointments and retirements set to take effect in early 2026. These changes, including the appointment of Takashi Akita as a Senior Executive Officer, are part of the company’s strategic efforts to strengthen its leadership and enhance operational efficiency.

The most recent analyst rating on (JP:6465) stock is a Buy with a Yen6800.00 price target. To see the full list of analyst forecasts on HOSHIZAKI stock, see the JP:6465 Stock Forecast page.

HOSHIZAKI Reports Strong Sales Growth and Strategic Expansion

HOSHIZAKI CORPORATION reported a 10.3% increase in net sales for the nine months ending September 30, 2025, compared to the previous year, indicating strong operational performance. The company also completed a significant business combination, incorporating Structural Concepts Corporation and its affiliates, which is expected to enhance its market position and operational capabilities.

The most recent analyst rating on (JP:6465) stock is a Buy with a Yen6800.00 price target. To see the full list of analyst forecasts on HOSHIZAKI stock, see the JP:6465 Stock Forecast page.

Hoshizaki Completes Treasury Share Disposal for Employee Incentives

HOSHIZAKI CORPORATION has completed the payment procedures for the disposal of treasury shares as part of a restricted share-based incentive plan for its employees’ shareholding association. The number of shares and the total disposal amount were adjusted due to partial forfeiture, reflecting the finalized number of participating members in the incentive plan.

The most recent analyst rating on (JP:6465) stock is a Buy with a Yen6800.00 price target. To see the full list of analyst forecasts on HOSHIZAKI stock, see the JP:6465 Stock Forecast page.