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Eiken Chemical Co., Ltd.
(4549)
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Rating:57Neutral
Price Target:
¥2,521.00
▼(-2.29% Downside)
Action:Reiterated
Date:08/01/26
The score is held back primarily by weakened cash-flow quality (negative free cash flow) and a materially weaker margin profile versus prior years, despite a conservatively leveraged balance sheet. Technicals are also unfavorable with the stock trading well below major moving averages. Valuation is reasonable with a moderate P/E and ~2.7% dividend yield, but it does not fully offset the financial and trend concerns.
Positive Factors
Conservative Balance Sheet
Eiken’s low leverage and substantial equity cushion provide resilience through operating volatility. Strong financial flexibility can support research, product development, and market expansion while reducing the risk that debt service constrains strategic investment or shareholder returns.
Negative Factors
Negative Free Cash Flow
The shift to negative free cash flow weakens cash-generation quality and reduces the funds available for innovation, expansion, dividends, or debt reduction. If sustained, weaker conversion of earnings into cash could make future growth more dependent on balance-sheet resources or external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Eiken’s low leverage and substantial equity cushion provide resilience through operating volatility. Strong financial flexibility can support research, product development, and market expansion while reducing the risk that debt service constrains strategic investment or shareholder returns.
Read all positive factors
Eiken Chemical Co., Ltd. (4549) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥80.31B
Dividend Yield2.38%
Average Volume (3M)162.80K
Price to Earnings (P/E)22.6
Beta (1Y)0.58
Revenue Growth2.94%
EPS Growth57.05%
CountryJP
Employees696
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)107.82
Shares Outstanding34,541,440
10 Day Avg. Volume125,510
30 Day Avg. Volume162,796
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)2.29
Price to Sales (P/S)2.40
P/FCF Ratio-58.51
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)91.9
Revenue Forecast (FY)¥43.56B
Eiken Chemical Co., Ltd. Business Overview & Revenue Model
Company Description
Eiken Chemical Co., Ltd. is a Japanese manufacturer and distributor specializing in clinical diagnostic products and medical equipment. The company excels in developing diagnostic solutions for diverse medical fields, encompassing biochemical anal...
How the Company Makes Money
Eiken Chemical makes money primarily by selling in vitro diagnostic (IVD) products used for clinical and screening tests. Its core revenue streams are (1) sales of diagnostic reagents (consumables) used repeatedly for routine testing, which typica...
Eiken Chemical Co., Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
80
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 42.43B | 41.90B | 40.54B | 40.05B | 43.27B | 43.00B |
| Gross Profit | 16.15B | 16.18B | 16.51B | 16.72B | 20.51B | 20.57B |
| EBITDA | 7.33B | 5.46B | 5.56B | 5.84B | 9.73B | 10.55B |
| Net Income | 3.55B | 3.71B | 2.23B | 2.63B | 5.74B | 6.22B |
Balance Sheet | ||||||
| Total Assets | 61.90B | 62.66B | 62.97B | 62.25B | 66.76B | 63.02B |
| Cash, Cash Equivalents and Short-Term Investments | 9.89B | 10.94B | 9.87B | 16.31B | 18.32B | 16.12B |
| Total Debt | 5.88B | 7.29B | 4.47B | 4.33B | 4.31B | 4.19B |
| Total Liabilities | 18.40B | 18.62B | 19.37B | 16.28B | 17.22B | 17.22B |
| Stockholders Equity | 43.50B | 44.03B | 43.60B | 45.97B | 49.53B | 45.80B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.72B | 812.00M | 1.72B | 4.30B | 2.88B |
| Operating Cash Flow | 0.00 | 4.04B | 6.03B | 3.81B | 7.58B | 7.77B |
| Investing Cash Flow | 0.00 | -3.42B | -4.50B | -2.22B | -316.00M | -5.04B |
| Financing Cash Flow | 0.00 | -322.00M | -4.86B | -6.69B | -2.10B | 1.20B |
Eiken Chemical Co., Ltd. Technical Analysis
Positive
2580.00
Price Trends
2281.20
Positive
2458.15
Negative
2611.97
Negative
Market Momentum
25.66
Negative
63.83
Neutral
85.50
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4549, the sentiment is Positive. The current price of 2580 is above the 20-day moving average (MA) of 2306.70, above the 50-day MA of 2281.20, and below the 200-day MA of 2611.97, indicating a neutral trend. The MACD of 25.66 indicates Negative momentum. The RSI at 63.83 is Neutral, neither overbought nor oversold. The STOCH value of 85.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4549.
Eiken Chemical Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥17.02B | 11.30 | ― | 4.62% | 20.88% | 44.61% | |
78 Outperform | ¥43.80B | 12.73 | ― | 2.68% | 2.15% | 12.47% | |
64 Neutral | ¥201.94B | 18.81 | 5.76% | 3.08% | 3.04% | -19.26% | |
63 Neutral | ¥269.36B | 19.70 | ― | 2.00% | 1.43% | 1.86% | |
57 Neutral | ¥80.31B | 22.60 | ― | 2.36% | 2.94% | 57.05% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:4549
Eiken Chemical Co., Ltd.
2,437.00
204.43
9.16%
JP:6523
PHC Holdings Corp.
1,363.00
386.88
39.63%
JP:6678
Techno Medica Co., Ltd.
1,998.00
164.56
8.98%
JP:6823
Rion Co., Ltd.
3,550.00
1,116.73
45.89%
JP:6849
Nihon Kohden Corporation
1,648.50
-37.66
-2.23%
Eiken Chemical Co., Ltd. Corporate Events
Eiken Chemical Posts Higher Sales but Profit Slump, Keeps Dividend Outlook Steady
Jul 30, 2026
Eiken Chemical reported consolidated net sales of ¥10.7 billion for the quarter ended June 30, 2026, up 5.2% year on year, but profits declined as higher costs compressed margins. Operating profit fell 16.7% to ¥667 million, ordinary pro...
Eiken Chemical Q1 Sales Rise Despite Margin Pressure, Launches Shareholder Perks and ESG Initiatives
Jul 30, 2026
Eiken Chemical reported higher first-quarter sales for FY2026, driven by strong overseas demand for fecal immunochemical test reagents, increased tuberculosis testing reagent shipments to developing countries and robust domestic medical device sal...
Eiken Chemical Launches Shareholder Perks and Pushes Digital Voting
Jul 30, 2026
Eiken Chemical’s board has approved the introduction of a shareholder benefits program designed to boost the appeal of its stock and encourage long-term holdings among individual investors. From the March 31, 2027 record date, shareholders w...
Eiken Chemical Completes Restricted Stock Treasury Share Disposal for Executive Compensation
Jul 22, 2026
Eiken Chemical Co., Ltd., a diagnostics-focused company listed on the TSE Prime, develops and supplies clinical testing products and medical technologies to healthcare providers. Its leadership framework includes outside directors and executive of...
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.