Thine Electronics, Inc. (6769) AI Stock Analysis

• Market Cap: ¥8.80B
• Dividend Yield: 1.86%
• Average Volume (3M): 19.17K
• Price to Earnings (P/E): 1246.7
• Beta (1Y): 1.62
• Revenue Growth: -7.54%
• EPS Growth: N/A
• Country: JP
• Employees: 130
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): -6.84
• Shares Outstanding: 12,340,100
• 10 Day Avg. Volume: 21,490
• 30 Day Avg. Volume: 19,173
• PEG Ratio: -0.05
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 2.10
• P/FCF Ratio: -65.71
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: ¥765.00 ▼(-4.38% Downside)

The score is driven down primarily by weak recent profitability and negative cash flow, which outweigh the benefit of a strong, debt-free balance sheet. Technicals also lean weak with the stock trading below key moving averages and a negative MACD. Valuation further pressures the score due to an extremely high P/E with only modest dividend support.

Positive Factors

Strong Balance Sheet

A debt-free balance sheet provides Thine Electronics with strong financial flexibility and resilience, reducing solvency risk in the cyclical semiconductor industry.

High Equity Relative to Assets

High equity relative to assets supports the company's resilience and ability to withstand industry volatility, ensuring long-term stability.

Stable Gross Margin

Stable gross margins indicate effective cost management and pricing power, which are crucial for maintaining profitability in the semiconductor industry.

Negative Factors

Deteriorating Profitability

The shift to operating losses indicates significant challenges in cost management or revenue generation, impacting long-term financial health and growth prospects.

Negative Cash Flow

Persistent negative cash flow suggests issues with earnings quality and operational efficiency, which could strain liquidity and limit investment capacity.

Declining Revenue Growth

Declining revenue growth reflects potential market challenges or competitive pressures, which may hinder long-term expansion and market share gains.

Thine Electronics, Inc. Business Overview & Revenue Model

Company Description

THine Electronics, Inc., a fabless semiconductor company, engages in the planning, designing, and sale of mixed-signal LSIs in Japan and internationally. The company offers system modules, V-by-One HS products for flat panel displays that require higher frame rates and resolutions, V-by-One products for EMI and data transmission for long distance, low voltage differential signaling products, LED and motor drivers, image signal processors, timing controllers, video ADC products, power management ICs, and power modules. It provides its products for use in cameras, USB cameras, LCD panels, projectors, multifunction printers, smartphones, and tablets, as well as medical, automotive, and gaming applications. The company was founded in 1991 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Thine Electronics, Inc. generates revenue through the sale of its semiconductor products, particularly its high-speed serial interface devices and mixed-signal integrated circuits. These products are integral components in electronic devices, enabling efficient data transfer and connectivity. The company's revenue streams predominantly come from direct sales to manufacturers in the consumer electronics, automotive, and industrial sectors. Thine Electronics also engages in strategic partnerships and collaborations that enhance its market reach and product offerings. Additionally, the company may earn income through licensing agreements or technology royalties, leveraging its intellectual property portfolio in the semiconductor field.

Thine Electronics, Inc. Financial Statement Overview

Summary

Fundamentals are pressured: profitability has deteriorated to an operating loss in TTM (EBIT margin ~-5.7%) with near-zero net margin (~0.1%), and cash generation is weak with negative operating cash flow and free cash flow in TTM (~-508M and ~-529M). The key offset is a very strong balance sheet with zero debt and high equity relative to assets, reducing solvency risk despite low returns (ROE ~0.1%).

Income Statement

Profitability has deteriorated materially versus prior years. While gross margin remains strong and stable (about 54% in TTM (Trailing-Twelve-Months) vs ~55% in 2024), operating performance weakened to a loss in TTM (EBIT margin ~-5.7%, EBITDA margin ~-3.8%) after being positive in 2024. Net income in TTM is essentially breakeven (net margin ~0.1%), a sharp step-down from 2024 (~7.4%) and far below 2021–2022. Revenue is modestly higher in TTM (+3.6%), but the multi-year trend shows a lower run-rate versus 2022–2023, highlighting a choppy demand/earnings profile.

Balance Sheet

The balance sheet is a clear strength: total debt is reported at zero across periods, implying very low financial risk and strong flexibility. Equity remains high relative to assets (e.g., TTM equity of ~8.83B vs assets of ~9.76B), supporting resilience in a cyclical semiconductor environment. The key weakness is returns: profitability has compressed, pushing return on equity down to ~0.1% in TTM (Trailing-Twelve-Months) from ~3.6% in 2024 and ~8%+ in 2021–2022, indicating the capital base is not currently being utilized efficiently.

Cash Flow

Cash generation is currently weak. Operating cash flow and free cash flow are negative in TTM (Trailing-Twelve-Months) (about -508M and -529M), following negative free cash flow in 2024 as well, which suggests earnings quality and/or working-capital/capex pressure. While the company has shown it can generate positive cash flow in some years (notably 2021 and 2023), the recent two-period pattern of cash burn increases near-term execution risk, especially if the weaker operating profitability persists.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.23B	4.61B	5.02B	5.46B	4.44B	2.88B
Gross Profit	2.28B	2.53B	2.44B	2.99B	2.55B	1.46B
EBITDA	-160.48M	499.15M	287.96M	1.17B	893.37M	-500.73M
Net Income	5.33M	339.79M	-69.80M	820.19M	727.75M	-697.22M
Balance Sheet
Total Assets	9.76B	10.33B	10.25B	10.67B	9.87B	8.79B
Cash, Cash Equivalents and Short-Term Investments	6.79B	7.31B	7.38B	7.30B	7.74B	6.73B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	846.96M	736.96M	809.13M	935.00M	809.53M	486.24M
Stockholders Equity	8.83B	9.46B	9.36B	9.68B	9.02B	8.27B
Cash Flow
Free Cash Flow	-529.16M	-147.23M	286.47M	-337.50M	350.79M	-563.02M
Operating Cash Flow	-507.80M	-73.75M	402.47M	-191.50M	357.79M	-520.02M
Investing Cash Flow	279.75M	15.19M	-148.00M	-423.29M	513.86M	2.11B
Financing Cash Flow	-139.66M	-161.71M	-286.00M	-100.33M	-89.09M	-97.51M

Thine Electronics, Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 800.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6769, the sentiment is Neutral. The current price of 800 is below the 20-day moving average (MA) of 811.70, below the 50-day MA of 800.89, and below the 200-day MA of 836.63, indicating a neutral trend. The MACD of 5.57 indicates Positive momentum. The RSI at 51.35 is Neutral, neither overbought nor oversold. The STOCH value of 9.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:6769.

Thine Electronics, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6337	70 Outperform	¥16.12B	53.42	―	3.47%	-14.79%	-41.15%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
6730	61 Neutral	¥13.22B	11.66	―	3.70%	-10.61%	-18.70%
6613	54 Neutral	¥18.96B	-62.03	―	―	18.18%	56.08%
6614	46 Neutral	¥3.34B	-40.34	―	2.25%	-2.80%	-129.64%
6616	45 Neutral	¥16.14B	-8.04	―	3.98%	-6.84%	50.71%
6769	43 Neutral	¥8.80B	1,246.75	―	1.86%	-7.54%	―