Icom Incorporated (JP:6820)
:6820
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Icom Incorporated
(6820)
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Rating:67Neutral
Price Target:
¥3,233.00
▲(8.78% Upside)
Action:Downgraded
Date:05/17/26
The score is primarily supported by solid financial quality (especially a debt-free balance sheet) and reasonable valuation. It is held back by weak current technical momentum and by inconsistent cash conversion despite generally healthy profitability.
Positive Factors
Debt-free balance sheet
A zero-debt, equity-heavy balance sheet materially reduces financial risk and provides durable flexibility for capex, product development, or cyclical downcycles. This structural conservatism supports long-term resilience and strategic optionality versus leveraged peers.
Negative Factors
Uneven cash conversion and volatile FCF
Volatile free cash flow and inconsistent conversion from earnings increase funding uncertainty for dividends, R&D, or targeted buybacks. Over a 2–6 month to multi-year horizon, this reduces predictability of capital allocation and raises the need for liquidity buffers despite profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A zero-debt, equity-heavy balance sheet materially reduces financial risk and provides durable flexibility for capex, product development, or cyclical downcycles. This structural conservatism supports long-term resilience and strategic optionality versus leveraged peers.
Read all positive factors
Icom Incorporated (6820) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥43.35B
Dividend Yield2.93%
Average Volume (3M)26.23K
Price to Earnings (P/E)15.9
Beta (1Y)0.68
Revenue Growth-1.36%
EPS Growth-9.69%
CountryJP
Employees1,034
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)158.51
Shares Outstanding14,850,000
10 Day Avg. Volume20,450
30 Day Avg. Volume26,230
Financial Highlights & Ratios
PEG Ratio-1.64
Price to Book (P/B)0.58
Price to Sales (P/S)1.15
P/FCF Ratio23.45
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)N/A
Revenue Forecast (FY)N/A
Icom Incorporated Business Overview & Revenue Model
Company Description
Icom Incorporated, together with its subsidiaries, manufactures and sells telecommunications equipment to individual and corporate customers primarily in Japan, the United States, Canada, Germany, Spain, Australia, China, and Vietnam. The company ...
How the Company Makes Money
Icom primarily makes money by selling wireless communication hardware and related products through a global network of distributors, dealers, and retail/online channels (depending on product type and region). Key revenue streams include: (1) Land ...
Icom Incorporated Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
88
Very Positive
Cash Flow
61
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.80B | 36.96B | 37.47B | 37.12B | 34.17B | 28.28B |
| Gross Profit | 16.22B | 15.96B | 16.39B | 15.78B | 14.09B | 11.21B |
| EBITDA | 4.21B | 3.87B | 4.82B | 4.58B | 3.71B | 2.07B |
| Net Income | 2.27B | 2.67B | 2.95B | 3.46B | 2.57B | 1.09B |
Balance Sheet | ||||||
| Total Assets | 73.86B | 81.97B | 73.89B | 73.16B | 67.16B | 63.37B |
| Cash, Cash Equivalents and Short-Term Investments | 27.60B | 27.68B | 27.10B | 28.44B | 29.40B | 27.08B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 7.14B | 8.88B | 6.53B | 7.41B | 6.71B | 5.63B |
| Stockholders Equity | 66.72B | 73.09B | 67.36B | 65.75B | 60.45B | 57.74B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.81B | 945.00M | 615.00M | 2.94B | 1.59B |
| Operating Cash Flow | 0.00 | 3.11B | 2.90B | 2.48B | 3.63B | 2.22B |
| Investing Cash Flow | 0.00 | -3.98B | -3.05B | -3.95B | 2.27B | -3.57B |
| Financing Cash Flow | 0.00 | -1.19B | -1.39B | -1.12B | -718.00M | -717.00M |
Icom Incorporated Technical Analysis
Positive
2972.00
Price Trends
3042.50
Negative
3014.71
Positive
2955.98
Positive
Market Momentum
-19.32
Positive
47.66
Neutral
52.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6820, the sentiment is Positive. The current price of 2972 is below the 20-day moving average (MA) of 3046.80, below the 50-day MA of 3042.50, and above the 200-day MA of 2955.98, indicating a neutral trend. The MACD of -19.32 indicates Positive momentum. The RSI at 47.66 is Neutral, neither overbought nor oversold. The STOCH value of 52.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6820.
Icom Incorporated Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥29.93B | 6.45 | 14.95% | 0.77% | 1.57% | -2.93% | |
68 Neutral | ¥266.30B | 10.38 | 12.24% | 2.31% | -6.81% | 72.30% | |
68 Neutral | ¥42.95B | 7.68 | ― | 4.43% | -0.53% | -31.86% | |
67 Neutral | ¥43.35B | 15.92 | ― | 2.93% | -1.36% | -9.69% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | ¥37.08B | 17.27 | ― | 2.26% | 0.63% | -60.75% | |
50 Neutral | ¥5.80B | 5.26 | ― | 3.54% | 9.10% | 1714.38% |
* Technology Sector Average
JP:6820
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Icom Incorporated Corporate Events
Icom Reshapes Board as Chairman Retires and Sales Chief Joins as Director
May 15, 2026
Icom Incorporated announced changes to its leadership structure, with long-serving Chairman and Representative Director Tokuzo Inoue scheduled to retire upon the expiration of his term at the conclusion of the 62nd Annual General Meeting of Shareh...
Icom Beats Forecasts and Lifts Year-End Dividend Despite Lower Year-On-Year Profit
May 15, 2026
Icom Incorporated reported that its full-year results for the fiscal year ended March 31, 2026, surpassed prior forecasts, with net sales, operating profit, ordinary profit, and profit attributable to owners of parent all beating guidance. The ups...
Icom Seeks Shareholder Approval to Extend Takeover Defense Plan
May 15, 2026
Icom’s board has resolved to maintain its existing basic policy on who may control the company’s financial and business decisions and to continue its countermeasures against large-scale share purchases as a takeover defense. The curren...
Icom Posts Lower FY2026 Earnings but Projects Profit Rebound and Higher Dividend
May 15, 2026
Icom Incorporated reported consolidated net sales of ¥36.96 billion for the fiscal year ended March 31, 2026, down 1.4% year on year, with operating profit falling 21.7% to ¥2.91 billion as margins weakened. 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.