Horiba (6856) AI Stock Analysis

• Market Cap: $527.28B
• Dividend Yield: 0.84%
• Average Volume (3M): 170.41K
• Price to Earnings (P/E): 14.5
• Beta (1Y): 1.45
• Revenue Growth: 7.09%
• EPS Growth: 6.00%
• Country: JP
• Employees: 8,955
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 184.52
• Shares Outstanding: 42,233,253
• 10 Day Avg. Volume: 171,600
• 30 Day Avg. Volume: 170,413
• PEG Ratio: -0.71
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 1.21
• P/FCF Ratio: 17.34
• Enterprise Value/Market Cap: 0.73
• Enterprise Value/Revenue: 1.20
• Enterprise Value/Gross Profit: 2.75
• Enterprise Value/Ebitda: 5.92
• 1Y Price Target: $12,520.73
• Price Target Upside: -0.51% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 81 Outperform
• Price Target: ¥12,520.00 ▼(-0.52% Downside)

Horiba's overall stock score is driven by its strong financial performance and positive technical trends. The company exhibits robust growth and profitability, supported by a stable balance sheet. Technical analysis indicates bullish momentum, while valuation metrics suggest the stock is fairly priced. The absence of earnings call insights and corporate events did not affect the score calculation.

Horiba Business Overview & Revenue Model

Company Description

HORIBA, Ltd. manufactures and sells instruments and systems for various applications. It operates in five segments: Automotive, Process & Environmental, Medical-Diagnostic, Semiconductor, and Scientific. The Automotive segment offers automotive emission analyzers, emission measurement systems, drive line test systems, engine test and fuel cell test systems, and battery test systems; test systems for engines, chassis, powertrains, brakes, and catalysts; and vehicle development engineering and testing engineering services, as well as leases and manages R&D facilities. The Process & Environmental segment provides stack gas analyzers, industrial water quality analyzers, water quality analysis and examination systems, air pollution analyzers, environmental radiation meters, and process measurement equipment. The Medical-Diagnostic segment offers hematology and CRP, immunology, clinical chemistry, and blood glucose analyzers. The Semiconductor Instruments & Systems segment provides mass flow controllers, chemical concentration monitors, reticle/mask particle detection systems, residual gas analyzers, and vaporizers. The Scientific segment offers Raman spectrometers, pH meters, particle-size distribution analyzers, X-Ray fluorescence analyzers, elemental analyzers, fluorescence spectroscopy/fluorescence lifetime spectroscopy, optical components, spectrometers and detectors, and gratings. The company was founded in 1945 and is headquartered in Kyoto, Japan.

How the Company Makes Money

Horiba makes money primarily through the sale of its analytical and measurement devices across its key sectors. The company's revenue streams are diversified, with significant contributions from the automotive sector, where it provides emission testing equipment and systems. The scientific segment also contributes to revenue by supplying research and laboratory equipment. In the environmental sector, Horiba earns income from its water quality and air pollution monitoring devices. The medical segment generates revenue through the sale of blood analyzers and other diagnostic tools. Additionally, the semiconductor sector contributes by providing mass flow controllers and other precision instruments used in manufacturing processes. Horiba's earnings are bolstered by strategic partnerships with key industry players and continuous investment in research and development to enhance its product offerings.

Horiba Financial Statement Overview

Summary

Horiba demonstrates robust financial performance with strong revenue growth and solid profitability margins. The balance sheet is stable with a high equity ratio and manageable debt levels. However, a recent decline in net income and fluctuations in capital expenditures slightly dampen the overall strong performance.

Income Statement

Horiba demonstrates strong financial performance with a consistently increasing revenue trend, growing from ¥187.08 billion in 2020 to ¥317.37 billion in 2024. The gross profit margin maintains a robust level, averaging around 43%, while the net profit margin hovers at approximately 10.5% in the latest year. EBIT and EBITDA margins are also healthy, indicating efficient operational management. However, there was a slight decline in net income from 2023 to 2024, which slightly dampens the overall strong performance.

Balance Sheet

Horiba's balance sheet shows a strong equity base with an equity ratio of nearly 65.3% in 2024, indicating solid financial stability. The debt-to-equity ratio is manageable at 0.20, reflecting prudent financial leverage. Return on equity remains attractive, supporting profitability. The company has a growing asset base, enhancing its capacity for growth. However, the relatively high level of total liabilities requires ongoing monitoring to ensure it remains within a comfortable range.

Cash Flow

Horiba's cash flow statement highlights substantial free cash flow generation, although there was a slowdown in growth from 2023 to 2024. The operating cash flow to net income ratio is strong, indicating effective cash conversion from earnings. The free cash flow to net income ratio also supports the company's profitability profile. However, fluctuations in capital expenditure affect free cash flow growth rates, reflecting potential volatility in cash allocation strategies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	318.99B	317.37B	290.56B	270.13B	224.31B	187.08B
Gross Profit	139.43B	136.85B	127.38B	116.67B	93.22B	76.43B
EBITDA	64.77B	61.40B	67.03B	57.19B	41.16B	29.04B
Net Income	34.68B	33.59B	40.30B	34.07B	21.31B	13.19B
Balance Sheet
Total Assets	470.79B	481.62B	449.03B	416.74B	371.58B	328.07B
Cash, Cash Equivalents and Short-Term Investments	150.17B	146.33B	134.78B	141.35B	137.03B	116.50B
Total Debt	64.51B	64.40B	60.39B	67.20B	80.18B	77.07B
Total Liabilities	164.98B	166.91B	165.30B	175.89B	167.09B	149.40B
Stockholders Equity	305.79B	314.69B	283.71B	240.83B	204.48B	178.66B
Cash Flow
Free Cash Flow	0.00	22.18B	7.48B	21.88B	22.70B	17.21B
Operating Cash Flow	0.00	40.34B	16.65B	33.97B	35.27B	32.25B
Investing Cash Flow	0.00	-17.56B	-7.32B	-10.74B	-14.66B	-14.02B
Financing Cash Flow	0.00	-15.93B	-20.96B	-22.45B	-4.04B	843.00M

Horiba Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12585.00
• 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:6856, the sentiment is Positive. The current price of 12585 is above the 20-day moving average (MA) of 12018.50, above the 50-day MA of 11492.80, and above the 200-day MA of 10167.28, indicating a bullish trend. The MACD of 409.76 indicates Negative momentum. The RSI at 64.70 is Neutral, neither overbought nor oversold. The STOCH value of 63.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6856.

Horiba Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6856	81 Outperform	$527.28B	14.55	11.91%	0.84%	7.09%	6.00%
6951	78 Outperform	¥253.93B	13.08	13.68%	2.03%	10.15%	-18.57%
6806	77 Outperform	¥624.41B	20.18	8.92%	2.58%	13.89%	11.34%
4186	73 Outperform	¥603.87B	21.62	11.30%	1.31%	21.48%	65.56%
6645	70 Outperform	¥806.22B	24.65	2.11%	2.54%	1.05%	―
6965	69 Neutral	¥508.73B	34.89	7.59%	2.31%	0.66%	-52.50%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Horiba Corporate Events

Horiba Completes Treasury Stock Disposal for RSU Grant System

Horiba, Ltd. has completed the payment for the disposal of treasury stock under its post-vesting restricted stock unit (RSU) grant system, as resolved in a board meeting on March 29, 2025. This disposal involved 14,221 shares of common stock at a price of 10,230 JPY per share, totaling 145,480,830 JPY, and was allocated to directors and corporate officers, potentially impacting the company’s equity structure and stakeholder interests.

The most recent analyst rating on (JP:6856) stock is a Buy with a Yen13000.00 price target. To see the full list of analyst forecasts on Horiba stock, see the JP:6856 Stock Forecast page.

Horiba Announces Correction to Treasury Stock Disposal Notice

Horiba, Ltd. announced a correction to its previously disclosed notice regarding the disposal of treasury stock related to its post-vesting restricted stock unit (RSU) grant system. The correction clarifies that the disposal of 14,221 common shares at a price of 10,230 JPY per share, totaling 145,480,830 JPY, will be an overseas offering to fewer than 50 people outside Japan, necessitating an Extraordinary Report under the Financial Instruments and Exchange Act. This correction ensures compliance with regulatory requirements and maintains transparency with stakeholders.

The most recent analyst rating on (JP:6856) stock is a Buy with a Yen13000.00 price target. To see the full list of analyst forecasts on Horiba stock, see the JP:6856 Stock Forecast page.

HORIBA Reports Strong Q1 2025 Results and Upward Forecast

HORIBA, Ltd. reported a notable increase in its financial performance for the first quarter of 2025, with net sales rising by 2.3% and operating income increasing by 17.4% compared to the same period last year. The company also announced an upward revision in its full-year forecast, indicating expected growth in net sales and income, reflecting a positive outlook for its operations and potential benefits for stakeholders.

The most recent analyst rating on (JP:6856) stock is a Buy with a Yen13000.00 price target. To see the full list of analyst forecasts on Horiba stock, see the JP:6856 Stock Forecast page.

HORIBA, Ltd. Reports Positive Q1 2025 Financial Results and Upward Forecasts

HORIBA, Ltd. reported a 2.3% increase in net sales for the first quarter of 2025, alongside significant growth in operating and ordinary income compared to the previous year. The company has adjusted its business forecasts for the full year, anticipating a 5.6% increase in net sales and a 7.6% rise in operating income, reflecting a positive outlook despite economic uncertainties.

The most recent analyst rating on (JP:6856) stock is a Buy with a Yen13000.00 price target. To see the full list of analyst forecasts on Horiba stock, see the JP:6856 Stock Forecast page.