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Meiko Electronics Co., Ltd.
(6787)
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Rating:53Neutral
Price Target:
¥17,164.00
▲(60.26% Upside)
Action:Reiterated
Date:08/11/26
The score is driven primarily by improving profitability and growth but offset by materially weak and volatile free cash flow and a still-notable debt load. Technicals are strongly bearish with the price below all key moving averages and negative momentum indicators, while valuation is only moderately supportive due to a low dividend yield and mid-range P/E.
Positive Factors
Revenue & Margin Improvement
Multi-year top-line expansion and sustained margin improvement reflect better pricing, product mix and operating efficiency. Those structural gains enhance durable earnings power, support reinvestment in capacity and improve the company's ability to win higher-value, reliability-sensitive contracts over the medium term.
Negative Factors
Volatile & Negative Free Cash Flow
Large swings and a recent deep negative FCF indicate earnings are not reliably converting into cash, likely from heavy capex or working-capital builds. Persistent FCF volatility constrains debt reduction, capital allocation and limits buffer against downturns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margin Improvement
Multi-year top-line expansion and sustained margin improvement reflect better pricing, product mix and operating efficiency. Those structural gains enhance durable earnings power, support reinvestment in capacity and improve the company's ability to win higher-value, reliability-sensitive contracts over the medium term.
Read all positive factors
Meiko Electronics Co., Ltd. (6787) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥469.60B
Dividend Yield0.63%
Average Volume (3M)135.33K
Price to Earnings (P/E)23.4
Beta (1Y)1.75
Revenue Growth22.48%
EPS Growth27.77%
CountryJP
Employees14,332
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)770.87
Shares Outstanding26,803,320
10 Day Avg. Volume124,390
30 Day Avg. Volume135,333
Financial Highlights & Ratios
PEG Ratio0.96
Price to Book (P/B)4.55
Price to Sales (P/S)2.58
P/FCF Ratio-27.78
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)1,064.41
Revenue Forecast (FY)¥321.15B
Meiko Electronics Co., Ltd. Business Overview & Revenue Model
Company Description
Meiko Electronics Co., Ltd. is a global enterprise specializing in the development, production, and distribution of printed circuit boards (PCBs) and related electronic components. Its market presence spans Japan, various other Asian nations, Nort...
How the Company Makes Money
Meiko Electronics makes money primarily by manufacturing and selling printed circuit boards (PCBs) and by providing electronics manufacturing services tied to PCB assembly and related production. The core revenue stream comes from customer orders ...
Meiko Electronics Co., Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
63
Positive
Cash Flow
42
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 240.57B | 206.81B | 179.46B | 167.28B | 151.28B |
| Gross Profit | 50.43B | 39.78B | 30.55B | 26.02B | 27.39B |
| EBITDA | 43.77B | 33.67B | 26.85B | 21.83B | 21.29B |
| Net Income | 19.78B | 14.92B | 11.31B | 8.85B | 11.45B |
Balance Sheet | |||||
| Total Assets | 335.29B | 256.37B | 229.96B | 202.39B | 168.33B |
| Cash, Cash Equivalents and Short-Term Investments | 27.50B | 23.15B | 21.60B | 17.58B | 10.70B |
| Total Debt | 121.91B | 87.57B | 79.26B | 75.79B | 67.00B |
| Total Liabilities | 191.48B | 140.76B | 124.50B | 117.92B | 109.64B |
| Stockholders Equity | 136.27B | 108.24B | 98.18B | 77.32B | 58.49B |
Cash Flow | |||||
| Free Cash Flow | -22.30B | -2.74B | 1.91B | -3.14B | 2.14B |
| Operating Cash Flow | 27.53B | 21.66B | 23.36B | 15.71B | 13.97B |
| Investing Cash Flow | -55.48B | -24.33B | -21.59B | -22.07B | -11.79B |
| Financing Cash Flow | 30.08B | 4.14B | 681.00M | 12.99B | -4.73B |
Meiko Electronics Co., Ltd. Technical Analysis
Negative
10710.00
Price Trends
27208.20
Negative
29355.62
Negative
21467.39
Negative
Market Momentum
-2421.28
Positive
37.72
Neutral
22.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6787, the sentiment is Negative. The current price of 10710 is below the 20-day moving average (MA) of 21337.50, below the 50-day MA of 27208.20, and below the 200-day MA of 21467.39, indicating a bearish trend. The MACD of -2421.28 indicates Positive momentum. The RSI at 37.72 is Neutral, neither overbought nor oversold. The STOCH value of 22.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6787.
Meiko Electronics Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥865.73B | 27.23 | 8.80% | 1.78% | 15.94% | 6.46% | |
70 Outperform | ¥65.43B | 17.30 | ― | 3.05% | 8.87% | -12.83% | |
68 Neutral | ¥433.32B | 16.99 | 6.28% | 2.86% | 2.28% | -22.89% | |
62 Neutral | ¥98.02B | 18.59 | ― | 1.44% | 14.45% | 543.68% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | ¥469.60B | 23.43 | ― | 0.76% | 22.48% | 27.77% | |
49 Neutral | ¥160.49B | 23.96 | 5.10% | 2.44% | 7.73% | -29.74% |
* Technology Sector Average
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Meiko Electronics Co., Ltd. Corporate Events
Meiko Electronics Delivers Strong PCB-Led Growth in FY2026 Q1
Aug 6, 2026
Meiko Electronics reported a strong start to FY2026, with first-quarter net sales rising to ¥73.2 billion, up 38.0% year on year, driven mainly by robust growth in its PCB business. The PCB segment’s sales climbed to ¥60.2 billion,...
Meiko Electronics Posts Strong Q1 Results and Raises Full-Year Outlook
Aug 6, 2026
Meiko Electronics reported a strong start to its fiscal year, with net sales for the three months ended June 30, 2026 rising 38.0% year on year to ¥73.2 billion, while operating profit increased 8.7% to ¥6.1 billion and profit attributab...
Meiko Electronics Boosts Capital of Vietnamese PCB Subsidiary for New Plant
Jul 21, 2026
Meiko Electronics has approved a significant capital increase for its wholly owned Vietnamese subsidiary, Meiko Electronics Quang Minh Co., Ltd., which manufactures printed circuit boards at Quang Minh Industrial Park near Hanoi. The move will lif...
Meiko Electronics to Retire ¥7.1 Billion Bond-Type Class Shares Amid Profit Rebound
Jul 21, 2026
Meiko Electronics Co., Ltd., a Japanese printed circuit board manufacturer, supplies PCBs for automotive, smartphone and tablet devices, and high-end communication modules. Its portfolio includes boards for satellite communications and SSD applica...
Meiko Electronics Explains Non-Membership in Accounting Standards Foundation
Jun 4, 2026
Meiko Electronics has disclosed that, as of March 31, 2026, it is not and has never been a member of the Financial Accounting Standards Foundation, the body linked to the setting and dissemination of accounting standards in Japan. Despite this non...
Meiko Electronics Renames Newly Acquired EMS Subsidiary to Strengthen ODM and Manufacturing Reach
Jun 1, 2026
Meiko Electronics has completed the acquisition of NAGANO FCL COMPONENTS LIMITED, which became a consolidated subsidiary on June 1, 2026, and has been renamed Meiko Electronic Components Co., Ltd. Based in Iiyama, Nagano and led by President and R...
Meiko Electronics Flags Risk Factors in FY2025 Financial Results Briefing
May 21, 2026
Meiko Electronics Co., Ltd. released materials for its FY2025 financial results briefing, emphasizing that the information provided is not a statutory disclosure under Japan’s Financial Instruments and Exchange Act and that the official refe...
Meiko Electronics Finalizes ¥10.98 Billion Acquisition of NAGANO FCL Components
May 18, 2026
Meiko Electronics has finalized the acquisition cost for all shares of NAGANO FCL COMPONENTS LIMITED at 10,981 million yen, as part of its strategy to obtain the EMS business of FCL COMPONENTS LIMITED. The deal will make NAGANO FCL COMPONENTS a co...
Meiko Electronics Books Forex Gains and Subsidiary Dividends as Non-Operating Income
May 13, 2026
Meiko Electronics Co., Ltd. reported a significant increase in non-operating income in its parent-only financial statements for the fiscal year ended March 31, 2026, driven by foreign exchange gains and dividends from subsidiaries. The company boo...
Meiko Electronics Raises Year-End Dividend, Confirms Payouts on Bond-Type Shares
May 13, 2026
Meiko Electronics Co., Ltd. has approved a year-end dividend of 70 yen per common share for the fiscal year ended March 31, 2026, with total common share dividends rising to 2,990 million yen for the year, up from 2,288 million yen in the previous...
Meiko Electronics Projects Strong Growth in FY2026 on PCB and Equipment Demand
May 13, 2026
Meiko Electronics reported consolidated fiscal 2025 results showing net sales of ¥206.8 billion, driven primarily by ¥170.6 billion from its PCB business and ¥36.2 billion from electronic equipment. Operating income reached ¥19...
Meiko Electronics Boosts Earnings, Investments and Dividends on Strong FY2026 Performance
May 13, 2026
Meiko Electronics reported strong results for the fiscal year ended March 31, 2026, with net sales climbing 16.3% to ¥240.6 billion and profit attributable to owners of parent rising 32.5% to ¥19.8 billion, reflecting improved profitabil...
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.