Pilot Corporation (JP:7846)
:7846
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Pilot Corporation
(7846)
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Rating:71Outperform
Price Target:
¥5,262.00
▲(7.98% Upside)
Action:ReiteratedDate:02/18/26
The score is driven primarily by strong financial fundamentals—especially the very conservative balance sheet—tempered by margin compression and volatile cash-flow conversion. Valuation is reasonable with a supportive dividend, while technical indicators point to weaker near-term price momentum.
Positive Factors
Balance-sheet conservatism
Pilot's very low leverage and steadily accreting equity create durable financial flexibility. That conservative capital structure supports resilience to demand shocks, enables steady dividend policy or opportunistic buybacks/M&A, and lowers refinancing risk over the next 2–6 months.
Negative Factors
Declining profitability
Margins and bottom-line have weakened since 2022, suggesting structural cost pressure, adverse mix shift, or rising overhead. If margin erosion persists it will compress returns on capital, reduce free-cash-flow conversion, and pressure the company’s ability to fund discretionary investments or maintain payouts.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet conservatism
Pilot's very low leverage and steadily accreting equity create durable financial flexibility. That conservative capital structure supports resilience to demand shocks, enables steady dividend policy or opportunistic buybacks/M&A, and lowers refinancing risk over the next 2–6 months.
Read all positive factors
Pilot Corporation (7846) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥183.88B
Dividend Yield2.56%
Average Volume (3M)85.03K
Price to Earnings (P/E)15.4
Beta (1Y)0.47
Revenue Growth-0.26%
EPS Growth3.35%
CountryJP
Employees2,965
SectorIndustrials
Sector Strength72
IndustryBusiness Equipment & Supplies
Share Statistics
EPS (TTM)46.79
Shares Outstanding40,905,200
10 Day Avg. Volume70,400
30 Day Avg. Volume85,033
Financial Highlights & Ratios
PEG Ratio-0.84
Price to Book (P/B)1.27
Price to Sales (P/S)1.47
P/FCF Ratio32.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)377.4
Revenue Forecast (FY)¥134.99B
Pilot Corporation Business Overview & Revenue Model
Company Description
Pilot Corporation manufactures, purchases, and sells writing instruments, and other stationery products and toys in Japan, the Americas, Europe, and Asia. The company provides writing instruments, including ballpoint pens, mechanical pencils, ink ...
How the Company Makes Money
Pilot Corporation generates revenue primarily through the sale of its writing instruments and stationery products. The company has a diverse revenue model that includes direct sales to consumers through retail channels, as well as wholesale distri...
Pilot Corporation Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 125.49B | 126.39B | 126.17B | 118.59B | 112.85B | 103.06B |
| Gross Profit | 66.57B | 64.45B | 63.23B | 60.55B | 58.86B | 53.03B |
| EBITDA | 24.71B | 23.19B | 22.93B | 25.10B | 26.57B | 24.29B |
| Net Income | 13.91B | 12.06B | 15.18B | 13.66B | 15.77B | 14.27B |
Balance Sheet | ||||||
| Total Assets | 176.17B | 179.91B | 176.70B | 166.47B | 156.54B | 143.16B |
| Cash, Cash Equivalents and Short-Term Investments | 36.95B | 39.99B | 39.98B | 39.17B | 46.13B | 46.52B |
| Total Debt | 1.50B | 4.75B | 1.76B | 3.57B | 5.30B | 10.24B |
| Total Liabilities | 32.33B | 33.82B | 35.12B | 34.12B | 38.55B | 40.80B |
| Stockholders Equity | 142.95B | 145.44B | 139.85B | 130.41B | 116.55B | 101.05B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 5.74B | 11.54B | 1.19B | 9.44B | 16.50B |
| Operating Cash Flow | 0.00 | 17.00B | 22.73B | 10.18B | 13.75B | 19.82B |
| Investing Cash Flow | 0.00 | -11.13B | -11.05B | -10.71B | -5.35B | -3.60B |
| Financing Cash Flow | 0.00 | -8.02B | -11.04B | -7.38B | -8.37B | -7.96B |
Pilot Corporation Technical Analysis
Positive
4873.00
Price Trends
4791.70
Negative
4770.72
Positive
4585.19
Positive
Market Momentum
-8.95
Negative
55.87
Neutral
90.02
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7846, the sentiment is Positive. The current price of 4873 is above the 20-day moving average (MA) of 4609.85, above the 50-day MA of 4791.70, and above the 200-day MA of 4585.19, indicating a neutral trend. The MACD of -8.95 indicates Negative momentum. The RSI at 55.87 is Neutral, neither overbought nor oversold. The STOCH value of 90.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:7846.
Pilot Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥183.88B | 15.37 | ― | 2.56% | -0.26% | 3.35% | |
71 Outperform | ¥124.84B | 13.17 | ― | 2.09% | 6.39% | -34.84% | |
70 Neutral | ¥4.00B | -199.56 | ― | 2.03% | 3.24% | ― | |
67 Neutral | ¥365.72B | 18.13 | 8.83% | 2.33% | 6.29% | 8.74% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ¥23.29B | 17.72 | ― | 1.69% | -2.71% | ― | |
42 Neutral | ¥3.29B | -15.38 | ― | ― | 4.11% | 33.06% |
* Industrials Sector Average
JP:7846
Pilot Corporation
4,772.00
641.99
15.54%
JP:7984
Kokuyo Co
852.30
133.90
18.64%
JP:7962
King Jim Co., Ltd.
818.00
-45.81
-5.30%
JP:7975
LIHIT LAB., INC.
1,180.00
69.99
6.31%
JP:7976
Mitsubishi Pencil Company, Limited
2,410.00
-115.19
-4.56%
JP:7992
Sailor Pen Co., Ltd.
111.00
1.00
0.91%
Pilot Corporation Corporate Events
Pilot to Sharpen Performance-Linked Stock Incentives With Expanded Executive Share Plan
Feb 13, 2026
Pilot Corporation plans to amend its stock remuneration plan for directors and certain executive officers, shifting entirely to performance-linked stock incentives and significantly increasing both the funding cap for the trust and the maximum num...
Pilot Reshapes Board and Executive Ranks Ahead of March Shareholders Meeting
Feb 13, 2026
Pilot Corporation has announced a broad reshuffle of its board and executive team, centered on leadership continuity under Representative Director and President Fumio Fujisaki. The company is reorganizing its governance structure ahead of its Marc...
Pilot Plans Three-for-One Stock Split and Expands Authorized Shares
Feb 13, 2026
Pilot Corporation will execute a three-for-one stock split of its common shares, effective July 1, 2026, tripling the number of issued shares to 122,715,600 in a move aimed at lowering the per-investment unit price and improving liquidity. By maki...
Pilot Lowers Medium-Term Growth Targets but Lifts Shareholder Payout Goal
Feb 13, 2026
Pilot Corporation has revised the financial targets in its 2025–2027 medium-term management plan, lowering net sales and operating margin goals for fiscal years 2026 and 2027 while keeping ROE targets broadly unchanged. The company cited a s...
Pilot Corporation Sees Profit Dip in 2025 but Signals Earnings Rebound and Stock Split for 2026
Feb 13, 2026
Pilot Corporation reported flat net sales of ¥126.4 billion for 2025, but operating profit fell 6.5% and profit attributable to owners of parent dropped 20.5%, pressured by lower margins despite a solid top line. Even so, the company strength...
Pilot Corporation Completes Treasury Share Acquisition
Dec 1, 2025
Pilot Corporation has completed the acquisition of its own treasury shares as per the resolution made by its Board of Directors. This strategic move involved acquiring over 1.35 million common shares at a total cost of approximately 6 billion yen,...
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.