JEOL Ltd. (JP:6951)
:6951
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JEOL Ltd.
(6951)
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Rating:76Outperform
Price Target:
¥8,267.00
▲(35.52% Upside)
Action:Reiterated
Date:05/19/26
The score is driven primarily by strong profitability and a low-leverage balance sheet, supported by constructive price trends and reasonable valuation (P/E ~13.2 and ~2.04% yield). The main offset is weaker recent fundamentals, including the 2026 revenue decline and notably volatile cash flow with weak free cash flow conversion.
Positive Factors
Strong profitability and returns
JEOL's sustained mid‑40% gross margins and low‑teens net margins with ROE around 15% indicate durable pricing power and efficient operations across its instrument businesses. This level of profitability supports ongoing R&D, product differentiation, and reinvestment without solely relying on external capital.
Negative Factors
Recent revenue decline and growth volatility
After prior expansion, a roughly 10.5% revenue decline in 2026 highlights JEOL's sensitivity to order timing and market cycles. Persistent top-line volatility can complicate capacity utilization, R&D prioritization and margin maintenance, raising uncertainty for multi-quarter planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and returns
JEOL's sustained mid‑40% gross margins and low‑teens net margins with ROE around 15% indicate durable pricing power and efficient operations across its instrument businesses. This level of profitability supports ongoing R&D, product differentiation, and reinvestment without solely relying on external capital.
Read all positive factors
JEOL Ltd. (6951) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥360.44B
Dividend Yield2.04%
Average Volume (3M)223.67K
Price to Earnings (P/E)16.4
Beta (1Y)1.43
Revenue Growth-8.82%
EPS Growth18.33%
CountryJP
Employees3,435
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)380.56
Shares Outstanding51,532,800
10 Day Avg. Volume188,480
30 Day Avg. Volume223,666
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)2.02
Price to Sales (P/S)1.63
P/FCF Ratio116.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥9,000.00Price Target Upside47.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)428.5
Revenue Forecast (FY)¥169.73B
JEOL Ltd. Business Overview & Revenue Model
Company Description
JEOL Ltd. is dedicated to the innovation, production, and global distribution of a broad spectrum of advanced technology, covering scientific and metrology instruments, semiconductor and industrial equipment, and medical devices. Their comprehensi...
How the Company Makes Money
JEOL primarily makes money by selling capital equipment and associated services across its instrument businesses. Key revenue streams include: (1) Sales of electron microscopes and related systems (e.g., for materials science, life science, and in...
JEOL Ltd. Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
82
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 200.49B | 179.35B | 196.69B | 174.34B | 162.69B | 138.41B |
| Gross Profit | 93.65B | 83.03B | 92.40B | 79.28B | 72.70B | 55.37B |
| EBITDA | 31.86B | 35.13B | 30.26B | 34.30B | 28.71B | 21.11B |
| Net Income | 19.46B | 22.10B | 18.69B | 21.70B | 17.83B | 12.28B |
Balance Sheet | ||||||
| Total Assets | 220.17B | 242.03B | 225.70B | 233.93B | 201.72B | 191.71B |
| Cash, Cash Equivalents and Short-Term Investments | 40.76B | 38.95B | 36.14B | 31.50B | 34.25B | 44.23B |
| Total Debt | 6.17B | 27.10B | 9.28B | 15.78B | 12.48B | 17.11B |
| Total Liabilities | 82.70B | 97.12B | 89.05B | 108.41B | 99.83B | 105.80B |
| Stockholders Equity | 137.47B | 144.90B | 136.65B | 125.51B | 101.89B | 85.90B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 2.51B | 20.14B | 12.06B | -2.68B | 21.44B |
| Operating Cash Flow | 0.00 | 16.00B | 23.10B | 15.30B | 3.35B | 22.60B |
| Investing Cash Flow | 0.00 | -13.76B | -855.00M | -18.03B | -5.73B | -648.00M |
| Financing Cash Flow | 0.00 | -1.55B | -17.12B | -798.00M | -8.73B | 5.52B |
JEOL Ltd. Technical Analysis
Positive
6100.00
Price Trends
6620.08
Positive
6386.99
Positive
5683.67
Positive
Market Momentum
49.35
Negative
59.00
Neutral
81.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6951, the sentiment is Positive. The current price of 6100 is below the 20-day moving average (MA) of 6854.70, below the 50-day MA of 6620.08, and above the 200-day MA of 5683.67, indicating a bullish trend. The MACD of 49.35 indicates Negative momentum. The RSI at 59.00 is Neutral, neither overbought nor oversold. The STOCH value of 81.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6951.
JEOL Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ¥18.84T | 41.76 | 12.80% | 0.78% | 10.40% | 11.67% | |
79 Outperform | ¥1.20T | 32.65 | 11.99% | 0.65% | 8.38% | 8.43% | |
76 Outperform | ¥360.44B | 16.36 | ― | 2.04% | -8.82% | 18.33% | |
72 Outperform | ¥864.55B | 61.57 | 4.03% | 2.25% | 5.36% | -24.06% | |
70 Outperform | ¥1.13T | 18.41 | 11.14% | 1.46% | 4.02% | 13.81% | |
68 Neutral | ¥505.05B | 40.84 | 5.63% | 2.35% | -3.24% | -36.64% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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JEOL Ltd. Corporate Events
JEOL boosts year-end dividend as earnings and balance sheet strengthen
May 15, 2026
JEOL Ltd. has announced that its board has approved a substantial increase in its year-end dividend for the fiscal year ended March 31, 2026, raising the payout to 79 yen per share from 62 yen a year earlier. The move reflects the company’s ...
JEOL Boosts Dividend Despite Lower Sales and Profit Margin in FY2026
May 15, 2026
JEOL reported consolidated net sales of ¥179.4 billion for the year ended March 31, 2026, down 8.8% year on year, with operating profit falling 26.7% to ¥26.0 billion, even as profit attributable to owners of the parent rose 18.2% to ...
JEOL Completes Tender Offer Share Buyback at ¥5,148 per Share
Mar 5, 2026
JEOL Ltd. has completed a tender offer to repurchase its own common shares, following a Board resolution on February 2, 2026. The buyback, conducted between February 3 and March 4 at a tender offer price of 5,148 yen per share, concludes the compa...
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.