Hamamatsu Photonics KK (JP:6965)
:6965
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Hamamatsu Photonics KK
(6965)
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Rating:74Outperform
Price Target:
¥2,060.00
▲(8.31% Upside)
Action:ReiteratedDate:03/10/26
The score is driven primarily by solid financial fundamentals (stable growth and a strong balance sheet), supported by bullish technicals (price above key moving averages and positive MACD). This is tempered by premium valuation (high P/E) and some profitability and free-cash-flow pressure.
Positive Factors
Diversified end markets
Hamamatsu’s broad product portfolio across photodetectors, imaging and light sources serves regulated healthcare, scientific research and industrial inspection markets. These diverse, application‑specific end markets and long product lifecycles support recurring OEM relationships and steady structural demand over months.
Negative Factors
Declining profitability margins
Erosion of net, EBIT and EBITDA margins together with falling ROE indicates weakening returns on capital. If these trends persist due to cost pressure or pricing constraints, they will limit internal funding for growth and reduce long‑term shareholder return potential over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified end markets
Hamamatsu’s broad product portfolio across photodetectors, imaging and light sources serves regulated healthcare, scientific research and industrial inspection markets. These diverse, application‑specific end markets and long product lifecycles support recurring OEM relationships and steady structural demand over months.
Read all positive factors
Hamamatsu Photonics KK (6965) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥587.80B
Dividend Yield2.25%
Average Volume (3M)2.44M
Price to Earnings (P/E)44.3
Beta (1Y)0.84
Revenue Growth3.97%
EPS Growth-41.76%
CountryJP
Employees6,395
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)9.38
Shares Outstanding319,257,350
10 Day Avg. Volume3,408,640
30 Day Avg. Volume2,437,200
Financial Highlights & Ratios
PEG Ratio-0.81
Price to Book (P/B)1.50
Price to Sales (P/S)2.27
P/FCF Ratio256.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,178.47Price Target Upside14.54% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)51.28
Revenue Forecast (FY)¥223.13B
Hamamatsu Photonics KK Business Overview & Revenue Model
Company Description
Hamamatsu Photonics K.K. manufactures and sells photomultiplier tubes, imaging devices, light sources, opto-semiconductors, and imaging and analyzing systems in Japan and internationally. The company operates through three segments: Electron Tube,...
How the Company Makes Money
Hamamatsu Photonics makes money primarily by selling photonics components and systems to equipment manufacturers, research institutions, and other industrial customers. Key revenue streams typically include: (1) Photodetectors and sensors: sales o...
Hamamatsu Photonics KK Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
80
Positive
Cash Flow
70
Positive
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 212.05B | 203.96B | 221.44B | 208.80B | 169.03B |
| Gross Profit | 101.38B | 103.88B | 120.01B | 112.38B | 83.39B |
| EBITDA | 43.88B | 53.37B | 73.16B | 72.26B | 48.36B |
| Net Income | 14.20B | 25.14B | 42.83B | 41.30B | 25.05B |
Balance Sheet | |||||
| Total Assets | 456.42B | 435.86B | 404.22B | 367.52B | 302.40B |
| Cash, Cash Equivalents and Short-Term Investments | 97.07B | 99.88B | 121.52B | 128.31B | 99.76B |
| Total Debt | 72.30B | 41.94B | 14.83B | 12.46B | 10.68B |
| Total Liabilities | 132.96B | 102.85B | 84.16B | 85.61B | 64.83B |
| Stockholders Equity | 321.52B | 331.31B | 318.65B | 280.56B | 236.52B |
Cash Flow | |||||
| Free Cash Flow | 1.88B | 9.81B | 4.70B | 28.01B | 22.10B |
| Operating Cash Flow | 37.78B | 38.05B | 34.25B | 45.13B | 39.91B |
| Investing Cash Flow | -42.17B | -73.70B | -32.90B | -13.33B | -16.78B |
| Financing Cash Flow | -2.84B | 12.56B | -11.91B | -7.76B | -4.47B |
Hamamatsu Photonics KK Technical Analysis
Positive
1902.00
Price Trends
1884.91
Positive
1771.43
Positive
1713.97
Positive
Market Momentum
6.24
Negative
49.84
Neutral
68.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6965, the sentiment is Positive. The current price of 1902 is above the 20-day moving average (MA) of 1889.74, above the 50-day MA of 1884.91, and above the 200-day MA of 1713.97, indicating a bullish trend. The MACD of 6.24 indicates Negative momentum. The RSI at 49.84 is Neutral, neither overbought nor oversold. The STOCH value of 68.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6965.
Hamamatsu Photonics KK Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥15.22T | 30.90 | 12.80% | 0.78% | 7.09% | 7.51% | |
78 Outperform | ¥894.94B | 18.06 | 11.99% | 0.65% | 8.50% | 14.06% | |
78 Outperform | ¥321.26B | 8.42 | ― | 2.04% | -0.69% | -29.88% | |
75 Outperform | ¥1.14T | 19.48 | 11.14% | 1.46% | 3.92% | 9.99% | |
74 Outperform | ¥587.80B | 44.29 | 4.03% | 2.25% | 3.97% | -41.76% | |
73 Outperform | ¥289.66B | 13.13 | 25.32% | 2.30% | 6.85% | 10.88% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
JP:6965
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Hamamatsu Photonics KK Corporate Events
Hamamatsu Photonics Advances Share Buyback, Repurchasing 7.66 Million Shares
Apr 1, 2026
Hamamatsu Photonics K.K. has reported progress on its ongoing share repurchase program, confirming the acquisition of 755,100 common shares for approximately 1.51 billion yen during March 2026. The buyback is being conducted under a previously aut...
Hamamatsu Photonics Advances Share Buyback, Nears Majority of Authorized Amount
Mar 2, 2026
Hamamatsu Photonics K.K. disclosed that it repurchased 947,800 of its own common shares for about 1.70 billion yen between February 1 and February 28, 2026, as part of an ongoing share buyback program. This activity reflects the company’s co...
Hamamatsu Photonics Posts Profit Slump in Q1 but Holds FY2026 Outlook and Dividend Plan
Feb 5, 2026
Hamamatsu Photonics reported a modest 2.6% year-on-year increase in first-quarter net sales to ¥51.9 billion for the three months ended December 31, 2025, but profitability declined sharply, with operating profit down 43.9% and profit attribu...
Hamamatsu Photonics Advances Share Buyback, Repurchasing Over 5.9 Million Shares to Date
Feb 2, 2026
Hamamatsu Photonics has continued its ongoing share repurchase program, buying back 1,040,900 common shares for approximately 1.8 billion yen between January 1 and January 31, 2026. This forms part of a larger Board-approved buyback authorization,...
Hamamatsu Photonics Completes Restricted Stock Issuance for Management Remuneration
Jan 16, 2026
Hamamatsu Photonics has completed the issuance and payment of new shares as part of its restricted stock remuneration plan for top management. The company issued 66,251 shares of common stock at ¥1,645 per share, for a total value of approxim...
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.