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Rigaku Holdings Corporation
(268A)
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Rating:60Neutral
Price Target:
¥1,477.00
▼(-12.29% Downside)
Action:Reiterated
Date:08/10/26
The score is primarily supported by strong operating profitability and solid TTM revenue growth, but is meaningfully constrained by deteriorating free cash flow and weak cash conversion. Technicals are currently soft (below key moving averages with negative MACD), and the high P/E with a modest dividend yield further pressures the overall rating.
Positive Factors
High Operating Profitability
Rigaku’s strong gross and operating margins indicate that its analytical instruments and related solutions generate substantial value relative to costs. If maintained, this profitability can support research and development, customer support, and reinvestment while providing resilience through normal industrial demand cycles.
Negative Factors
Weak Cash Conversion
Recent cash generation is materially weaker than reported profitability, with operating cash flow and free cash flow converting only a modest portion of net income. If sustained, this can constrain internally funded investment, reduce financial flexibility, and make growth more dependent on working-capital recovery or external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
High Operating Profitability
Rigaku’s strong gross and operating margins indicate that its analytical instruments and related solutions generate substantial value relative to costs. If maintained, this profitability can support research and development, customer support, and reinvestment while providing resilience through normal industrial demand cycles.
Read all positive factors
Rigaku Holdings Corporation (268A) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥326.35B
Dividend Yield1.29%
Average Volume (3M)1.88M
Price to Earnings (P/E)36.1
Beta (1Y)1.19
Revenue Growth4.93%
EPS Growth-15.59%
CountryJP
Employees1,971
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)40.71
Shares Outstanding226,629,900
10 Day Avg. Volume1,900,320
30 Day Avg. Volume1,883,226
Financial Highlights & Ratios
PEG Ratio-1.44
Price to Book (P/B)494.16
Price to Sales (P/S)2.96
P/FCF Ratio101.95
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)56.67
Revenue Forecast (FY)¥101.83B
Rigaku Holdings Corporation Business Overview & Revenue Model
Company Description
Rigaku Holdings Corporation engages in the manufacture and sale of scientific equipment in Japan, the United States, Europe, and Asia. The company offers multipurpose analytical instruments, such as X-ray diffraction equipment, X-ray fluorescence,...
How the Company Makes Money
Rigaku Holdings Corporation makes money primarily through the Rigaku Group’s sales of analytical instruments and related lifecycle revenue. Key revenue streams typically include: (1) Instrument sales: revenue from selling X-ray analytical systems ...
Rigaku Holdings Corporation Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
58
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 93.03B | 94.19B | 90.65B | 79.89B | 62.70B |
| Gross Profit | 51.84B | 52.88B | 55.30B | 46.68B | 37.81B |
| EBITDA | 19.62B | 22.24B | 23.60B | 19.88B | 10.28B |
| Net Income | 9.26B | 11.40B | 13.62B | 10.90B | 911.00M |
Balance Sheet | |||||
| Total Assets | 187.65B | 1.18B | 1.13B | 1.17B | 1.15B |
| Cash, Cash Equivalents and Short-Term Investments | 27.25B | 154.90M | 178.03M | 146.69M | 111.25M |
| Total Debt | 66.93B | 396.68M | 391.78M | 443.73M | 487.90M |
| Total Liabilities | 98.45B | 617.76M | 609.15M | 698.90M | 736.05M |
| Stockholders Equity | 89.19B | 564.05M | 520.05M | 467.13M | 408.97M |
Cash Flow | |||||
| Free Cash Flow | 642.47M | 2.73B | 8.24B | 8.90B | 4.64B |
| Operating Cash Flow | 5.41B | 9.39B | 14.60B | 11.72B | 7.36B |
| Investing Cash Flow | -5.62B | -6.63B | -6.05B | -2.36B | -2.60B |
| Financing Cash Flow | -3.69B | -6.59B | -2.44B | -4.02B | -3.63B |
Rigaku Holdings Corporation Technical Analysis
Negative
1684.00
Price Trends
1710.26
Negative
2095.37
Negative
2003.19
Negative
Market Momentum
-78.45
Positive
32.59
Neutral
5.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:268A, the sentiment is Negative. The current price of 1684 is above the 20-day moving average (MA) of 1668.05, below the 50-day MA of 1710.26, and below the 200-day MA of 2003.19, indicating a bearish trend. The MACD of -78.45 indicates Positive momentum. The RSI at 32.59 is Neutral, neither overbought nor oversold. The STOCH value of 5.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:268A.
Rigaku Holdings Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥93.29B | 15.95 | ― | 2.69% | 8.67% | 11.23% | |
75 Outperform | ¥120.77B | 15.63 | ― | 2.49% | 16.76% | 35.84% | |
72 Outperform | ¥79.20B | 14.85 | ― | 2.03% | 2.11% | -19.76% | |
64 Neutral | ¥387.76B | 26.60 | 11.09% | 1.85% | 13.52% | 61.58% | |
63 Neutral | ¥350.64B | 23.08 | ― | 2.05% | -18.36% | -19.56% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ¥326.35B | 36.11 | ― | 1.29% | 4.93% | -15.59% |
* Technology Sector Average
JP:268A
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Rigaku Holdings Corporation Corporate Events
Rigaku to Shift Largest Shareholder Role to Onto Innovation’s Japan Unit
Sep 30, 2026
Rigaku Holdings Corporation announced that its largest and principal shareholder will change following an internal share transfer within the Onto Innovation group. Onto Innovation Japan Co., Ltd., a Tokyo-based subsidiary focused on semiconductor ...
Rigaku’s Principal Shareholder to Trim Stake via Transfer to Asset Management Firm
Aug 28, 2026
Rigaku Holdings Corporation announced that principal shareholder Hikaru Shimura will transfer part of his stake in the company to Asuka Corporation, his asset management vehicle, on September 2, 2026. The move was communicated through a large shar...
Rigaku Shifts Control to Semiconductor Partner Onto Innovation
Aug 12, 2026
Rigaku Holdings Corporation has announced a significant change in its shareholder structure that strengthens its alignment with the semiconductor equipment industry. Onto Innovation Inc., a U.S.-based maker of inspection and analysis equipment for...
Rigaku Announces Increase in Stake Held by Global Asset Manager
Aug 11, 2026
Rigaku Holdings Corporation has disclosed a change in its principal shareholder following the filing of a large shareholding change report with the Kanto Regional Finance Bureau by Columbia Management Investment Advisers, LLC and its joint holder,...
Rigaku Holdings Posts Weaker First-Half Earnings but Reaffirms 2026 Outlook
Aug 7, 2026
Rigaku Holdings Corporation reported consolidated revenue of ¥39.57 billion for the six months ended June 30, 2026, down 2.9% year on year, with operating profit dropping 54.9% to ¥2.58 billion and profit attributable to owners of the pa...
Rigaku Highlights Risk Factors and Non-IFRS Use in FY26 2Q/1H Earnings Materials
Aug 7, 2026
Rigaku Holdings Corporation has released its FY26 second-quarter and first-half earnings presentation materials, emphasizing that the figures and operational data are based on current economic, regulatory and market conditions and may change witho...
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.