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Okayama Paper Industries Co., Ltd.
(3892)
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Rating:75Outperform
Price Target:
¥1,850.00
▲(17.83% Upside)
Action:Reiterated
Date:10/15/26
The score is primarily supported by strong financial quality—especially the very low leverage balance sheet—plus an attractive valuation (low P/E and solid dividend yield). Technicals are supportive but less decisive, with the stock below its 200-day average and some signs of extended short-term momentum.
Positive Factors
Very Low Leverage
An exceptionally low-debt structure reduces financial strain and preserves flexibility during weaker operating periods. Steady equity growth also supports a stronger asset base, allowing the company to fund investment and withstand shocks without relying heavily on external financing.
Negative Factors
Recent Revenue Decline
The latest revenue contraction indicates that near-term demand or volume has weakened after several years of broadly stable sales. If the decline persists, it could reduce operating leverage, constrain investment capacity, and make restoring prior earnings growth more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
An exceptionally low-debt structure reduces financial strain and preserves flexibility during weaker operating periods. Steady equity growth also supports a stronger asset base, allowing the company to fund investment and withstand shocks without relying heavily on external financing.
Read all positive factors
Okayama Paper Industries Co., Ltd. (3892) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥8.29B
Dividend Yield3.01%
Average Volume (3M)2.91K
Price to Earnings (P/E)9.3
Beta (1Y)0.63
Revenue Growth-0.25%
EPS Growth2.38%
CountryJP
Employees204
SectorBasic Materials
Sector Strength58
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)177.00
Shares Outstanding5,500,000
10 Day Avg. Volume4,500
30 Day Avg. Volume2,910
Financial Highlights & Ratios
PEG Ratio3.66
Price to Book (P/B)0.56
Price to Sales (P/S)0.73
P/FCF Ratio8.14
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)N/A
Revenue Forecast (FY)N/A
Okayama Paper Industries Co., Ltd. Business Overview & Revenue Model
Company Description
Okayama Paper Industries Co., Ltd. engages in the manufacture and sale of paper products in Japan and internationally. It operates through Paperboard Business and Decorative Corrugated Board Business segments. The company provides core paper, pape...
Okayama Paper Industries Co., Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
93
Very Positive
Cash Flow
60
Neutral
| Breakdown | May 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.22B | 11.52B | 11.51B | 10.87B | 10.08B |
| Gross Profit | 2.71B | 2.83B | 3.29B | 2.27B | 2.23B |
| EBITDA | 1.25B | 1.31B | 1.99B | 913.34M | 1.02B |
| Net Income | 821.74M | 798.70M | 1.16B | 494.92M | 591.13M |
Balance Sheet | |||||
| Total Assets | 18.52B | 16.93B | 18.24B | 15.37B | 14.88B |
| Cash, Cash Equivalents and Short-Term Investments | 5.26B | 4.47B | 6.60B | 4.96B | 5.03B |
| Total Debt | 17.64M | 38.69M | 48.48M | 72.79M | 36.55M |
| Total Liabilities | 4.04B | 3.99B | 6.00B | 4.84B | 4.42B |
| Stockholders Equity | 14.48B | 12.94B | 12.24B | 10.53B | 10.45B |
Cash Flow | |||||
| Free Cash Flow | 1.00B | -1.96B | 1.73B | 338.94M | 662.27M |
| Operating Cash Flow | 1.80B | -1.46B | 2.01B | 623.62M | 937.80M |
| Investing Cash Flow | -748.41M | -499.79M | -266.94M | -268.76M | -179.08M |
| Financing Cash Flow | -252.60M | -164.91M | -107.36M | -420.23M | -96.65M |
Okayama Paper Industries Co., Ltd. Technical Analysis
Positive
1570.00
Price Trends
1598.88
Positive
1627.47
Positive
1674.41
Negative
Market Momentum
17.57
Negative
63.23
Neutral
63.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3892, the sentiment is Positive. The current price of 1570 is below the 20-day moving average (MA) of 1636.05, below the 50-day MA of 1598.88, and below the 200-day MA of 1674.41, indicating a neutral trend. The MACD of 17.57 indicates Negative momentum. The RSI at 63.23 is Neutral, neither overbought nor oversold. The STOCH value of 63.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3892.
Okayama Paper Industries Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥8.29B | 9.29 | ― | 3.01% | -0.25% | 2.38% | |
74 Outperform | ¥3.26B | 5.80 | ― | 3.87% | -7.71% | 6.41% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ¥8.82B | 25.33 | ― | 3.41% | -2.18% | -68.23% | |
59 Neutral | ¥3.25B | 4.13 | ― | 5.18% | 1.57% | -21.97% | |
58 Neutral | ¥941.69M | 4.87 | ― | 3.95% | -0.72% | ― | |
53 Neutral | ¥4.56B | 39.88 | ― | 2.54% | 0.11% | 14.91% |
* Basic Materials Sector Average
JP:3892
Okayama Paper Industries Co., Ltd.
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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.