Yokowo Co., Ltd. (6800) AI Stock Analysis

• Market Cap: ¥77.62B
• Dividend Yield: 2.2%
• Average Volume (3M): 59.20K
• Price to Earnings (P/E): 38.2
• Beta (1Y): 1.23
• Revenue Growth: 4.75%
• EPS Growth: 164.54%
• Country: JP
• Employees: 8,055
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 44.13
• Shares Outstanding: 23,849,878
• 10 Day Avg. Volume: 48,920
• 30 Day Avg. Volume: 59,196
• PEG Ratio: 0.30
• Price to Book (P/B): 0.61
• Price to Sales (P/S): 0.39
• P/FCF Ratio: 6.71
• 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): 128.7
• Revenue Forecast (FY): ¥87.50B

• Rating: 74 Outperform
• Price Target: ¥3,825.00 ▲(69.47% Upside)
• Action: Upgraded Date: 02/27/26
• Date: Action: Upgraded 02/27/26

The score is driven primarily by solid financial fundamentals (growth, strong balance sheet, and strong cash conversion) and a strong technical uptrend. These positives are tempered by a high P/E valuation and near-overbought momentum signals.

Positive Factors

Sustained revenue growth

Yokowo’s revenue growth of +7.79% in 2025 reflects expanding product adoption and successful design‑in for OEM programs. Durable recurring series production contracts with automakers tend to produce multiquarter to multi‑year revenue streams, supporting predictable top‑line growth over months.

Conservative balance sheet

A debt‑to‑equity of 0.20 and equity ratio of 68.09% indicates low leverage and high financial flexibility. This conservative capital structure supports durable ability to fund capex, R&D or weather cyclical auto demand without needing frequent external financing, strengthening long‑term resilience.

Very strong cash conversion

Exceptionally high free cash flow growth and OCF-to-net‑income of 3.25 show the business converts earnings to cash efficiently. Durable cash generation funds working capital and capex for production runs and reduces reliance on debt, enabling reinvestment into product programs and customer support.

Negative Factors

Low net profitability and ROE

Despite revenue growth, a 2.69% net margin and 4.29% ROE signal limited profitability on shareholder capital. Persistently low net returns constrain reinvestment capacity and long‑term shareholder value creation, making the company vulnerable if revenue growth slows or competitive pressure intensifies.

Cyclicality from OEM exposure

Dependence on automotive OEM volumes ties revenue to vehicle production cycles and macro demand. Design‑in wins drive multi‑year programs but also create exposure to auto industry downturns and production swings, reducing revenue predictability across 2–6 month horizons.

Modest operating margins

While gross margin is healthy, EBIT at 5.10% and EBITDA at 9.10% leave a narrow operating cushion. Limited operating leverage and pricing power in hardware components can compress margins during cost inflation or lower volumes, constraining the firm’s ability to absorb shocks without profitability erosion.

Yokowo Co., Ltd. Business Overview & Revenue Model

Company Description

Yokowo Co., Ltd. manufactures and sells components and advanced devices for wireless communication and information transmission worldwide. It offers antennas for vehicle communication and infrastructure solutions; connectors comprising electronic devices, circuit testing products, and test tool for electrical equipment; and advanced devices, including low temperature co-fired ceramics/high temperature fired ceramics applied devices, medical device components, and semiconductor devices. The company also provides test tools for electrical equipment, which include clip connectors, microwave test tools, RF probe-test solutions, and semiconductor testing systems. It offers its products to manufacturers in the electronics, electrical machinery, and automotive industries. The company was formerly known as Yokowo Mfg. Co., Ltd. and changed its name to Yokowo Co., Ltd. in October 1990. Yokowo Co., Ltd. was founded in 1922 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Yokowo Co., Ltd. generates revenue through the sale of its electronic components, which are utilized in a wide range of applications, including automotive systems, mobile devices, and industrial equipment. The company's revenue model is based on direct sales to original equipment manufacturers (OEMs) and other businesses, enabling them to maintain a steady flow of income from established clients. Key revenue streams include the production and sale of connectors and antennas, which are essential for enabling communication and data transfer in modern electronics. Significant partnerships with major players in the automotive and telecommunications sectors contribute to its earnings, as they provide Yokowo with consistent orders and opportunities for innovation in product development.

Yokowo Co., Ltd. Financial Statement Overview

Summary

Strong revenue growth (+7.79% in 2025) and solid operating profitability (EBIT margin 5.10%, EBITDA margin 9.10%) are supported by a conservative balance sheet (debt-to-equity 0.20, equity ratio 68.09%). Cash flow metrics are strong (operating cash flow to net income 3.25; free cash flow to net income 2.13), though net margin remains low (2.69%) and ROE is modest (4.29%).

Income Statement

Yokowo Co., Ltd. demonstrates strong revenue growth with a 7.79% increase in 2025 compared to 2024. The gross profit margin is robust at 18.95%, indicating efficient cost management. The net profit margin improved to 2.69%, showing enhanced profitability, although it remains relatively low. The EBIT margin stands at 5.10%, and the EBITDA margin at 9.10%, both reflecting operational efficiency. Overall, the income statement shows positive growth and profitability, but there is room for improving net margins.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.20, indicating conservative leverage. The return on equity is modest at 4.29%, suggesting moderate profitability on shareholders' investments. The equity ratio is strong at 68.09%, highlighting a high proportion of assets financed by equity. These metrics indicate financial stability and a strong equity position, though improving ROE could further enhance shareholder value.

Cash Flow

Yokowo Co., Ltd. shows a significant free cash flow growth of over 11,488% in 2025, driven by efficient capital management. The operating cash flow to net income ratio is healthy at 3.25, reflecting strong cash generation relative to profits. The free cash flow to net income ratio is strong at 2.13, indicating effective conversion of net income into cash. While the overall cash flow position is positive, consistency in free cash flow generation would further strengthen financial flexibility.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	83.01B	82.88B	76.89B	77.96B	66.85B	59.98B
Gross Profit	15.73B	15.71B	11.98B	14.89B	13.21B	12.90B
EBITDA	8.32B	7.54B	7.56B	8.38B	9.81B	8.17B
Net Income	821.00M	2.23B	1.51B	3.15B	4.66B	3.82B
Balance Sheet
Total Assets	77.57B	76.28B	76.41B	70.66B	66.87B	56.87B
Cash, Cash Equivalents and Short-Term Investments	17.23B	17.12B	18.70B	17.69B	13.82B	15.46B
Total Debt	10.22B	10.51B	13.59B	11.18B	7.77B	9.15B
Total Liabilities	26.15B	24.25B	26.03B	23.43B	22.54B	20.67B
Stockholders Equity	51.33B	51.94B	50.30B	47.16B	44.27B	36.16B
Cash Flow
Free Cash Flow	0.00	4.76B	41.00M	2.08B	-1.59B	771.00M
Operating Cash Flow	0.00	7.24B	4.82B	7.31B	3.68B	5.14B
Investing Cash Flow	0.00	-4.08B	-5.13B	-5.86B	-5.97B	-4.62B
Financing Cash Flow	0.00	-4.62B	-260.00M	1.53B	171.00M	1.91B

Yokowo Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2257.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6800, the sentiment is Positive. The current price of 2257 is below the 20-day moving average (MA) of 2904.80, below the 50-day MA of 2500.40, and above the 200-day MA of 1785.82, indicating a bullish trend. The MACD of 279.99 indicates Negative momentum. The RSI at 64.40 is Neutral, neither overbought nor oversold. The STOCH value of 68.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6800.

Yokowo Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6824	77 Outperform	¥61.63B	13.52	―	1.12%	14.84%	7.57%
6915	77 Outperform	¥31.14B	12.54	―	4.78%	-7.10%	6.38%
6800	74 Outperform	¥77.62B	38.22	―	2.20%	4.75%	164.54%
6817	70 Outperform	¥41.14B	11.44	―	4.53%	-2.57%	3.43%
6999	65 Neutral	¥67.52B	25.01	2.45%	2.19%	5.79%	193.94%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%