Icom Incorporated (6820) AI Stock Analysis

• Market Cap: ¥41.62B
• Dividend Yield: 2.93%
• Average Volume (3M): 26.23K
• Price to Earnings (P/E): 14.5
• Beta (1Y): 0.70
• Revenue Growth: -0.90%
• EPS Growth: -13.24%
• Country: JP
• Employees: 1,034
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): 50.38
• Shares Outstanding: 14,850,000
• 10 Day Avg. Volume: 20,450
• 30 Day Avg. Volume: 26,230
• PEG Ratio: -0.91
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 1.05
• P/FCF Ratio: 41.78
• 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: 70 Outperform
• Price Target: ¥3,574.00 ▲(20.26% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by solid financial performance—especially the debt-free balance sheet and steady profitability—partly offset by inconsistent cash-flow conversion. Valuation is supportive with a reasonable P/E and a ~2.9% dividend yield, while technical indicators are mixed and limit upside conviction in the near term.

Positive Factors

Debt-free balance sheet

Zero debt and an exceptionally conservative balance sheet provide durable financial flexibility. This reduces solvency risk, supports steady investment in product development and capex, and allows the company to weather industry cycles or fund strategic initiatives without refinancing risk.

Negative Factors

Volatile cash-flow conversion

Inconsistent conversion of earnings to cash reduces confidence in sustainable cash returns. Volatile free cash flow limits reliable funding for dividends, buybacks, or growth capex and increases dependence on working-capital timing or balance-sheet reserves during weaker periods.

Icom Incorporated Business Overview & Revenue Model

Company Description

Icom Incorporated (6820) is a Japanese company that specializes in the design, manufacture, and distribution of two-way radio communication devices and related equipment. Established in 1954, the company operates in the telecommunications sector, ...

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Icom Incorporated (6820) is a Japanese company that specializes in the design, manufacture, and distribution of two-way radio communication devices and related equipment. Established in 1954, the company operates in the telecommunications sector, ...

How the Company Makes Money

Icom Incorporated generates revenue primarily through the sale of its communication devices and equipment. The company's key revenue streams include the amateur radio market, commercial land mobile radio market, and marine and aviation communicati...

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Icom Incorporated generates revenue primarily through the sale of its communication devices and equipment. The company's key revenue streams include the amateur radio market, commercial land mobile radio market, and marine and aviation communicati...

Icom Incorporated Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	36.80B	37.47B	37.12B	34.17B	28.28B	27.94B
Gross Profit	16.22B	16.39B	15.78B	14.09B	11.21B	11.50B
EBITDA	4.21B	4.82B	4.58B	3.71B	2.07B	3.13B
Net Income	2.27B	2.95B	3.46B	2.57B	1.09B	1.74B
Balance Sheet
Total Assets	73.86B	73.89B	73.16B	67.16B	63.37B	61.67B
Cash, Cash Equivalents and Short-Term Investments	27.60B	27.10B	28.44B	29.40B	27.08B	26.63B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	7.14B	6.53B	7.41B	6.71B	5.63B	5.15B
Stockholders Equity	66.72B	67.36B	65.75B	60.45B	57.74B	56.52B
Cash Flow
Free Cash Flow	0.00	945.00M	615.00M	2.94B	1.59B	1.80B
Operating Cash Flow	0.00	2.90B	2.48B	3.63B	2.22B	3.05B
Investing Cash Flow	0.00	-3.05B	-3.95B	2.27B	-3.57B	651.00M
Financing Cash Flow	0.00	-1.39B	-1.12B	-718.00M	-717.00M	-1.94B

Icom Incorporated Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2972.00
• 50DMA: Negative
• 100DMA: Negative
• 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:6820, the sentiment is Negative. The current price of 2972 is below the 20-day moving average (MA) of 3087.25, below the 50-day MA of 3058.84, and above the 200-day MA of 2953.91, indicating a bearish trend. The MACD of -23.92 indicates Positive momentum. The RSI at 37.73 is Neutral, neither overbought nor oversold. The STOCH value of 12.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6820.

Icom Incorporated Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6718	81 Outperform	¥42.93B	71.35	―	4.43%	0.63%	-24.87%
6675	79 Outperform	¥36.50B	310.64	―	2.26%	20.13%	33.43%
6820	70 Outperform	¥41.62B	14.45	―	2.93%	-0.90%	-13.24%
6703	70 Outperform	¥213.90B	6.34	12.24%	2.31%	-2.36%	-61.50%
6835	68 Neutral	¥27.51B	9.33	14.95%	0.77%	6.43%	368.06%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
6778	50 Neutral	¥5.79B	5.26	―	3.54%	19.28%	―

Icom Incorporated Corporate Events