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Morimatsu International Holdings Company Limited
(2155)
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Rating:59Neutral
Price Target:
HK$6.50
▼(-12.87% Downside)
Action:Reiterated
Date:10/27/26
The score is driven primarily by solid financial quality—especially the low-leverage balance sheet and continued profitability—tempered by softening revenue/margins and inconsistent cash flow conversion. The outlook is further weighed down by bearish technicals (below key moving averages with weak momentum) and a demanding valuation multiple despite a moderate dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a materially stronger equity base give Morimatsu financial resilience in a project-driven industry. This structure can support investment, absorb execution variability, and preserve strategic flexibility without relying heavily on additional borrowing.
Negative Factors
Softening revenue trend
Recent revenue weakness suggests customer project activity and order execution are not translating into consistent top-line growth. Because the business is project-based, continued choppiness could reduce utilization, weaken operating leverage, and make near-term earnings less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a materially stronger equity base give Morimatsu financial resilience in a project-driven industry. This structure can support investment, absorb execution variability, and preserve strategic flexibility without relying heavily on additional borrowing.
Read all positive factors
Morimatsu International Holdings Company Limited (2155) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$8.40B
Dividend Yield3.03%
Average Volume (3M)1.97M
Price to Earnings (P/E)62.4
Beta (1Y)1.17
Revenue Growth14.32%
EPS Growth-84.67%
CountryHK
Employees5,000
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)0.09
Shares Outstanding1,271,329,000
10 Day Avg. Volume3,487,134
30 Day Avg. Volume1,974,159
Financial Highlights & Ratios
PEG Ratio-0.93
Price to Book (P/B)1.87
Price to Sales (P/S)1.50
P/FCF Ratio133.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$12.53Price Target Upside67.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.41
Revenue Forecast (FY)HK$7.30B
Morimatsu International Holdings Company Limited Business Overview & Revenue Model
Company Description
Headquartered in Shanghai, China, and established in 1990, Morimatsu International Holdings Company Limited is a global provider of integrated solutions for process industries. The company excels in the design, manufacturing, installation, and ong...
How the Company Makes Money
Morimatsu generally makes money by executing customer projects and selling engineered-to-order equipment and modular systems, with revenue recognized based on contract terms for these bespoke manufacturing/engineering engagements.
Key revenue str...
Morimatsu International Holdings Company Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.84B | 6.95B | 6.95B | 7.36B | 6.49B | 4.28B |
| Gross Profit | 1.56B | 1.85B | 2.06B | 2.06B | 1.79B | 1.18B |
| EBITDA | 491.03M | 934.88M | 1.12B | 1.14B | 890.68M | 564.95M |
| Net Income | 118.09M | 599.59M | 737.24M | 844.68M | 669.27M | 381.84M |
Balance Sheet | ||||||
| Total Assets | 10.70B | 10.13B | 8.91B | 8.93B | 7.96B | 5.70B |
| Cash, Cash Equivalents and Short-Term Investments | 4.15B | 3.29B | 2.99B | 2.23B | 1.62B | 1.55B |
| Total Debt | 400.22M | 598.18M | 295.79M | 384.33M | 467.40M | 373.88M |
| Total Liabilities | 5.17B | 4.27B | 3.63B | 4.54B | 5.14B | 3.69B |
| Stockholders Equity | 5.27B | 5.60B | 5.05B | 4.38B | 2.82B | 2.01B |
Cash Flow | ||||||
| Free Cash Flow | 994.67M | 78.29M | 721.79M | 100.50M | 38.09M | 730.26M |
| Operating Cash Flow | 1.14B | 425.37M | 1.15B | 671.28M | 905.15M | 1.17B |
| Investing Cash Flow | -1.16B | -296.44M | -765.72M | -408.13M | -1.15B | -448.13M |
| Financing Cash Flow | 210.69M | 269.07M | -144.06M | 506.98M | 57.05M | 445.06M |
Morimatsu International Holdings Company Limited Technical Analysis
Neutral
7.46
Price Trends
6.95
Negative
7.45
Negative
8.06
Negative
Market Momentum
-0.26
Negative
50.95
Neutral
65.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2155, the sentiment is Neutral. The current price of 7.46 is above the 20-day moving average (MA) of 6.51, above the 50-day MA of 6.95, and below the 200-day MA of 8.06, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 50.95 is Neutral, neither overbought nor oversold. The STOCH value of 65.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2155.
Morimatsu International Holdings Company Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$27.59B | 7.42 | 13.60% | 4.63% | 7.74% | 0.33% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$26.10B | 6.65 | 18.22% | 3.48% | 13.48% | 55.89% | |
60 Neutral | HK$5.64B | 5.01 | 10.15% | 8.99% | 19.90% | 67.16% | |
59 Neutral | HK$8.40B | 62.35 | 2.17% | 3.03% | 14.32% | -84.67% | |
53 Neutral | HK$1.70B | 3.84 | 4.42% | 4.52% | -18.58% | ― | |
50 Neutral | HK$96.94B | 70.03 | 0.60% | 0.66% | 16.39% | 46.43% |
* Industrials Sector Average
HK:2155
Morimatsu International Holdings Company Limited
6.61
-2.54
-27.76%
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1.04
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-48.00%
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17.29
-3.40
-16.44%
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Shanghai Electric Group Company
2.49
-2.27
-47.68%
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1.53
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Harbin Electric Co. Ltd. Class H
11.67
-1.27
-9.81%
Morimatsu International Holdings Company Limited Corporate Events
Morimatsu Swings to Loss Amid Margin Squeeze Despite Surging Orders
Aug 27, 2026
Morimatsu International Holdings reported a sharp downturn in profitability for the six months ended 30 June 2026, with revenue slipping to RMB2.57 billion from RMB2.69 billion and gross profit margin contracting to 22.4% from 29.4%. The group swu...
Morimatsu Sets August Board Meeting to Review Interim Results and Dividend
Aug 17, 2026
Morimatsu International Holdings Company Limited has scheduled a board meeting for 27 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026. The board will also consider the potential declaration of ...
Morimatsu Launches HK$50 Million On-Market Share Buyback Plan
Aug 10, 2026
Morimatsu International Holdings has resolved to activate its shareholder-approved mandate to repurchase shares on the open market, authorizing buybacks of up to HK$50 million, equivalent to as many as 127,132,900 shares, or 10% of its issued shar...
Morimatsu Flags Interim Loss on Geopolitical, Market and FX Pressures
Aug 7, 2026
Morimatsu International Holdings has warned that it expects to post a loss of about RMB150 million to RMB180 million for the six months ended 30 June 2026, reversing from a profit of RMB333 million a year earlier. The downturn is driven by deliver...
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.