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DIC
(4631)
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Rating:69Neutral
Price Target:
¥5,985.00
▲(18.16% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by attractive valuation (low P/E and ~4% dividend yield) and solid technical momentum (price above key moving averages with positive MACD). These positives are tempered by mixed financial performance—especially the sharp 2025 revenue decline and still-elevated leverage—despite improving profitability and a free-cash-flow rebound.
Positive Factors
Profitability Recovery
The recovery from 2023’s loss indicates improved cost control, pricing and product mix. Sustained operating profitability would strengthen internal funding capacity, although current margins remain moderate and require continued execution.
Negative Factors
Sharp Revenue Decline
The abrupt top-line contraction signals significant exposure to cyclical demand, volumes or product mix. A prolonged revenue decline could reduce operating leverage, weaken cash generation and delay the benefits of the recent profitability recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Recovery
The recovery from 2023’s loss indicates improved cost control, pricing and product mix. Sustained operating profitability would strengthen internal funding capacity, although current margins remain moderate and require continued execution.
Read all positive factors
DIC (4631) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥479.43B
Dividend Yield4.38%
Average Volume (3M)296.89K
Price to Earnings (P/E)8.4
Beta (1Y)1.02
Revenue Growth6.29%
EPS Growth101.67%
CountryJP
Employees20,884
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)596.13
Shares Outstanding95,156,906
10 Day Avg. Volume328,600
30 Day Avg. Volume296,893
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.73
Price to Sales (P/S)0.33
P/FCF Ratio11.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥7,000.00Price Target Upside38.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)403.1
Revenue Forecast (FY)¥1.13T
DIC Business Overview & Revenue Model
Company Description
DIC Corporation operates as a global producer and distributor of printing inks, organic pigments, and advanced polyphenylene sulfide (PPS) compounds. Its extensive operations are organized into three principal segments: Packaging & Graphic, Color ...
How the Company Makes Money
null...
DIC Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.12T | 1.05T | 1.07T | 1.04T | 1.05T | 855.38B |
| Gross Profit | 256.40B | 227.97B | 222.20B | 186.38B | 199.22B | 177.32B |
| EBITDA | 144.16B | 112.94B | 100.09B | 37.90B | 88.48B | 72.34B |
| Net Income | 56.45B | 32.35B | 21.31B | -39.86B | 17.61B | 4.37B |
Balance Sheet | ||||||
| Total Assets | 1.33T | 1.27T | 1.23T | 1.24T | 1.26T | 1.07T |
| Cash, Cash Equivalents and Short-Term Investments | 70.69B | 68.91B | 61.87B | 87.53B | 63.38B | 38.25B |
| Total Debt | 433.81B | 458.27B | 484.33B | 528.96B | 509.33B | 384.21B |
| Total Liabilities | 800.91B | 783.25B | 805.82B | 845.62B | 840.55B | 690.47B |
| Stockholders Equity | 510.04B | 470.88B | 401.42B | 363.94B | 387.00B | 345.93B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 31.32B | 3.42B | 37.04B | -32.88B | 8.88B |
| Operating Cash Flow | 0.00 | 72.97B | 46.21B | 89.09B | 7.93B | 44.81B |
| Investing Cash Flow | 0.00 | -20.59B | -17.08B | -66.46B | -73.16B | -147.61B |
| Financing Cash Flow | 0.00 | -45.39B | -62.59B | -2.92B | 83.95B | 99.55B |
DIC Technical Analysis
Positive
5065.00
Price Trends
4868.81
Positive
4485.37
Positive
4117.94
Positive
Market Momentum
139.32
Positive
52.17
Neutral
2.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4631, the sentiment is Positive. The current price of 5065 is above the 20-day moving average (MA) of 5005.85, above the 50-day MA of 4868.81, and above the 200-day MA of 4117.94, indicating a bullish trend. The MACD of 139.32 indicates Positive momentum. The RSI at 52.17 is Neutral, neither overbought nor oversold. The STOCH value of 2.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4631.
DIC Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥123.53B | 10.78 | ― | 3.72% | 8.94% | 22.70% | |
74 Outperform | ¥2.78T | 14.06 | 11.39% | 1.32% | 16.22% | 34.06% | |
74 Outperform | ¥139.86B | 8.50 | 7.27% | 0.43% | 8.62% | 68.78% | |
73 Outperform | ¥548.00B | 19.66 | ― | 3.25% | 18.43% | 149.34% | |
69 Neutral | ¥479.43B | 8.43 | 10.33% | 4.92% | 6.29% | 101.67% | |
67 Neutral | ¥487.78B | 17.06 | 11.32% | 4.13% | 2.53% | -14.17% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JP:4631
DIC
5,025.00
1,762.30
54.01%
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DIC Corporate Events
DIC to Repurchase Up to ¥10 Billion in Shares Under Expanded Shareholder Return Policy
Aug 10, 2026
DIC Corporation has approved a share buyback program under Japan’s Companies Act, authorizing the repurchase of up to 2.8 million common shares, or about 2.96% of its outstanding stock, via market purchases on the Tokyo Stock Exchange betwee...
DIC Raises 2026 Year-End Dividend and Launches ¥10 Billion Share Buyback
Aug 10, 2026
DIC Corporation has revised its fiscal 2026 year-end dividend forecast, lifting the planned payout from ¥70 to ¥80 per share and bringing the total annual dividend to ¥150, up from the prior year’s ¥140. The move aligns w...
DIC Lifts 2026 Earnings Outlook After Strong First-Half Beat
Aug 10, 2026
DIC Corporation reported that its consolidated results for the six months ended June 30, 2026 significantly exceeded prior forecasts, with net sales and all key profit metrics rising on stronger demand. The upside was driven by increased shipments...
DIC Corporation Lifts Profit Outlook and Shareholder Returns on Strong Chemitronics Demand
Aug 10, 2026
DIC Corporation reported a 13.3% year-on-year increase in net sales to ¥593.0 billion for the six months ended June 30, 2026, driven notably by a 25.5% surge in chemitronics sales on strong semiconductor demand and higher sales of high-value-...
DIC lifts earnings, dividend and guidance on strong first-half results
Aug 10, 2026
DIC Corporation is a Tokyo-listed manufacturer operating under Japan GAAP, with diversified businesses reflected in substantial consolidated net sales. The company serves global industrial customers and maintains a significant asset base and share...
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.