ULVAC Inc (JP:6728)
:6728
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ULVAC
(6728)
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Rating:68Neutral
Price Target:
¥11,380.00
▲(17.14% Upside)
Action:Reiterated
Date:05/14/26
The score reflects strong technical momentum and a low-leverage balance sheet, tempered by a clear recent downshift in margins and volatile/weak free-cash-flow conversion. A high P/E with a modest dividend yield further limits upside from a valuation perspective.
Positive Factors
Low leverage / conservative balance sheet
A low debt-to-equity (~0.19) and a sizable equity base give ULVAC durable financial flexibility. This conservatism reduces default and refinancing risk across semiconductor/display cycles, enabling capex, R&D or targeted M&A without forcing distressed asset sales.
Negative Factors
Weak and volatile free cash flow
Free cash flow has swung materially (negative in FY2023/FY2024, strong rebound in FY2025, then a step-down), and TTM FCF covers less than half of net income. Persistent volatility undermines funding for capex, dividends and strategic moves without raising external financing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservative balance sheet
A low debt-to-equity (~0.19) and a sizable equity base give ULVAC durable financial flexibility. This conservatism reduces default and refinancing risk across semiconductor/display cycles, enabling capex, R&D or targeted M&A without forcing distressed asset sales.
Read all positive factors
ULVAC (6728) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥468.06B
Dividend Yield2.35%
Average Volume (3M)333.87K
Price to Earnings (P/E)34.0
Beta (1Y)1.57
Revenue Growth-3.24%
EPS Growth-36.64%
CountryJP
Employees6,234
SectorIndustrials
Sector Strength72
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)257.87
Shares Outstanding49,355,934
10 Day Avg. Volume394,390
30 Day Avg. Volume333,870
Financial Highlights & Ratios
PEG Ratio-0.89
Price to Book (P/B)1.17
Price to Sales (P/S)1.04
P/FCF Ratio11.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥11,550.00Price Target Upside18.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)376.3
Revenue Forecast (FY)¥257.93B
ULVAC Business Overview & Revenue Model
Company Description
ULVAC, Inc. engages in the development, manufacture, sale, customer support, and import/export of vacuum equipment, peripheral devices, and vacuum components and materials in Japan and internationally. The company offers various equipment, includi...
How the Company Makes Money
ULVAC primarily makes money by selling vacuum and thin-film process equipment and supporting those installations over their lifecycle. Key revenue streams include: (1) Capital equipment sales: revenue from designing, manufacturing, and delivering ...
ULVAC Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
78
Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 255.09B | 251.18B | 261.12B | 227.53B | 241.26B | 183.01B |
| Gross Profit | 77.38B | 79.86B | 80.66B | 67.16B | 73.74B | 53.76B |
| EBITDA | 32.78B | 38.78B | 39.20B | 29.41B | 38.28B | 30.44B |
| Net Income | 12.69B | 16.69B | 20.23B | 14.17B | 20.21B | 14.83B |
Balance Sheet | ||||||
| Total Assets | 390.85B | 375.06B | 388.88B | 353.47B | 354.30B | 292.76B |
| Cash, Cash Equivalents and Short-Term Investments | 98.98B | 105.95B | 96.33B | 98.40B | 118.04B | 91.55B |
| Total Debt | 44.52B | 46.60B | 50.69B | 45.89B | 42.77B | 42.53B |
| Total Liabilities | 153.84B | 143.98B | 160.93B | 148.62B | 157.82B | 119.06B |
| Stockholders Equity | 229.63B | 223.47B | 220.66B | 198.21B | 188.98B | 166.90B |
Cash Flow | ||||||
| Free Cash Flow | 10.66B | 23.46B | -2.72B | -15.30B | 26.59B | 18.37B |
| Operating Cash Flow | 22.93B | 34.81B | 17.16B | 1.01B | 33.93B | 25.52B |
| Investing Cash Flow | -12.18B | -10.80B | -19.52B | -15.67B | -7.43B | -6.92B |
| Financing Cash Flow | -22.80B | -14.21B | -2.78B | -5.44B | -6.45B | -16.06B |
ULVAC Technical Analysis
Neutral
9715.00
Price Trends
9550.88
Negative
9211.88
Positive
7853.32
Positive
Market Momentum
-54.48
Positive
47.05
Neutral
67.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6728, the sentiment is Neutral. The current price of 9715 is below the 20-day moving average (MA) of 9874.75, above the 50-day MA of 9550.88, and above the 200-day MA of 7853.32, indicating a neutral trend. The MACD of -54.48 indicates Positive momentum. The RSI at 47.05 is Neutral, neither overbought nor oversold. The STOCH value of 67.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:6728.
ULVAC Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥1.10T | 29.33 | 11.99% | 0.65% | 8.38% | 8.43% | |
76 Outperform | ¥362.88B | 16.36 | ― | 2.04% | -8.82% | 18.33% | |
74 Outperform | ¥1.36T | 34.10 | 15.75% | 1.08% | 18.84% | 42.10% | |
72 Outperform | ¥884.79B | 60.34 | 4.03% | 2.25% | 5.36% | -24.06% | |
70 Outperform | ¥1.11T | 18.34 | 11.14% | 1.46% | 4.02% | 13.81% | |
68 Neutral | ¥468.06B | 33.98 | 5.63% | 2.35% | -3.24% | -36.64% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
JP:6728
ULVAC
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ULVAC Corporate Events
ULVAC Posts Lower Profits Despite Higher Sales and Trims Dividend Outlook
May 12, 2026
ULVAC reported consolidated net sales of ¥191.6 billion for the nine months ended March 31, 2026, up 2.1% year on year, but saw operating profit fall 29.1% to ¥14.7 billion and profit attributable to owners of parent drop 30.5% to ¥...
ULVAC Overhauls Top Management to Drive Mid- to Long-Term Growth
May 12, 2026
ULVAC, Inc. has announced a leadership transition, appointing long-time executives Junya Kiyota and Tomoyasu Kondo as new representative directors as part of a board restructuring. Kiyota will assume the role of President and Executive Officer in ...
ULVAC Reshapes Top Management as New President and Vice President Step In
May 12, 2026
ULVAC has announced a broad reshuffle of its leadership, with new appointments for directors and executive officers slated to take effect in mid-2026. The company plans to appoint Junya Kiyota as Representative Director, President and Executive Of...
ULVAC to Fold China FPD Target Business into New Joint Venture
May 12, 2026
ULVAC has approved a business integration of its flat panel display sputtering target operations in China with Beijing-based investment funds Fengke Xinchuang, Xinchuang Phase II, and Chinese materials maker Konfoong Materials International (KFMI)...
ULVAC Cuts Profit and Dividend Forecasts Despite Stronger Orders
May 12, 2026
ULVAC revised its full-year forecast for the fiscal year ending June 30, 2026, projecting higher net sales of ¥260 billion but significantly lower operating and ordinary profits of ¥19 billion and a reduced profit attributable to owners ...
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.