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Lasertec
(6920)
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Rating:70Outperform
Price Target:
¥45,001.00
▲(4.24% Upside)
Action:Reiterated
Date:07/29/26
The score is supported primarily by exceptional financial performance (rapid TTM growth, very high margins, and a near debt-free balance sheet with strong ROE). Offsetting this, technicals are currently weak with the price below major short- and mid-term moving averages, and valuation is relatively expensive (P/E ~38.6) with a low dividend yield (~0.88%).
Positive Factors
Exceptional Profitability
Sustained very high gross and net margins indicate durable pricing power and operating efficiency in metrology equipment. High margins support reinvestment in R&D, buffer cycle swings, and enable margin-accretive service expansion, strengthening long-term cash earnings.
Negative Factors
Free Cash Flow Variability
Sharp swing in FCF and historically inconsistent cash conversion point to working-capital and timing sensitivity in equipment sales. That variability can constrain organic funding for capex, dividends, or M&A and increases reliance on timing or balance-sheet buffers.
Read all positive and negative factors
Positive Factors
Negative Factors
Exceptional Profitability
Sustained very high gross and net margins indicate durable pricing power and operating efficiency in metrology equipment. High margins support reinvestment in R&D, buffer cycle swings, and enable margin-accretive service expansion, strengthening long-term cash earnings.
Read all positive factors
Lasertec (6920) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.42T
Dividend Yield0.87%
Average Volume (3M)9.74M
Price to Earnings (P/E)38.4
Beta (1Y)1.39
Revenue Growth12.01%
EPS Growth26.66%
CountryJP
Employees1,163
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)986.54
Shares Outstanding94,286,400
10 Day Avg. Volume8,887,570
30 Day Avg. Volume9,738,330
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)8.35
Price to Sales (P/S)6.97
P/FCF Ratio23.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥52,246.15Price Target Upside21.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)1,115.45
Revenue Forecast (FY)¥286.77B
Lasertec Business Overview & Revenue Model
Company Description
Lasertec Corporation operates globally, specializing in the development, production, sale, and servicing of advanced equipment for the semiconductor industry, flat panel displays, and sophisticated laser microscopes. Within the semiconductor secto...
How the Company Makes Money
Lasertec makes money mainly by selling capital equipment—high-value semiconductor inspection and metrology systems—to chipmakers, foundries, and photomask manufacturers. A key revenue stream comes from photomask-related tools, including systems us...
Lasertec Financial Statement Overview
Summary
Income Statement
92
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 252.18B | 251.48B | 213.51B | 152.83B | 90.38B | 70.25B |
| Gross Profit | 150.87B | 148.26B | 107.48B | 84.02B | 47.79B | 36.95B |
| EBITDA | 129.29B | 124.13B | 86.76B | 67.18B | 37.06B | 27.72B |
| Net Income | 88.78B | 84.65B | 59.08B | 46.16B | 24.85B | 19.25B |
Balance Sheet | ||||||
| Total Assets | 310.81B | 329.60B | 273.04B | 271.57B | 178.63B | 118.73B |
| Cash, Cash Equivalents and Short-Term Investments | 80.03B | 86.09B | 38.15B | 29.77B | 23.49B | 27.92B |
| Total Debt | 125.00M | 177.00M | 76.00M | 5.04B | 10.02B | 24.90M |
| Total Liabilities | 85.32B | 119.70B | 121.72B | 162.43B | 105.88B | 63.54B |
| Stockholders Equity | 225.49B | 209.90B | 151.31B | 109.14B | 72.75B | 55.19B |
Cash Flow | ||||||
| Free Cash Flow | 69.06B | 75.76B | 30.35B | 21.80B | -4.22B | 9.72B |
| Operating Cash Flow | 70.19B | 77.87B | 33.32B | 40.55B | -3.46B | 10.49B |
| Investing Cash Flow | -1.60B | -2.42B | -3.57B | -20.57B | -5.39B | -3.70B |
| Financing Cash Flow | -43.18B | -24.57B | -23.14B | -15.56B | 2.15B | -4.24B |
Lasertec Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥704.63B | 28.13 | 13.70% | 1.50% | 10.83% | -3.77% | |
72 Outperform | ¥22.67T | 51.32 | 56.56% | 0.20% | 36.20% | 104.76% | |
70 Outperform | ¥3.42T | 38.43 | 40.97% | 0.76% | 12.01% | 26.66% | |
70 Outperform | ¥25.23T | 40.84 | 28.89% | 1.79% | 8.25% | 16.50% | |
68 Neutral | ¥2.35T | 27.76 | 20.78% | 0.92% | -5.60% | -10.68% | |
67 Neutral | ¥6.34T | 43.44 | 26.19% | 0.83% | 15.20% | 17.70% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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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.