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OPTORUN CO.,LTD.
(6235)
Select Model
Select Model
Rating:60Neutral
Price Target:
¥2,634.00
▼(-26.12% Downside)
Action:Downgraded
Date:07/19/26
The score is anchored by financial resilience—especially the very low leverage and improved recent free cash flow—while being held back by sharply weaker 2025 margins and earnings volatility. Technicals are weak with the stock below major moving averages and negative MACD, and valuation is constrained by a high P/E with only a modest dividend yield.
Positive Factors
Very Low Leverage
Minimal leverage gives OPTORUN substantial financial flexibility and reduces interest and refinancing pressure. Its large equity base provides capacity to fund optical technology development, absorb cyclical earnings swings, and pursue growth without relying heavily on external borrowing.
Negative Factors
Sharp Margin Compression
The steep decline in gross and net margins shows that recent sales growth has not translated proportionately into profit. If this pressure persists, it could reduce reinvestment capacity, weaken earnings conversion, and make future results more sensitive to execution and cost conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Minimal leverage gives OPTORUN substantial financial flexibility and reduces interest and refinancing pressure. Its large equity base provides capacity to fund optical technology development, absorb cyclical earnings swings, and pursue growth without relying heavily on external borrowing.
Read all positive factors
OPTORUN CO.,LTD. (6235) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥108.10B
Dividend Yield2.19%
Average Volume (3M)441.27K
Price to Earnings (P/E)54.7
Beta (1Y)1.46
Revenue Growth21.25%
EPS Growth-53.79%
CountryJP
Employees620
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)45.84
Shares Outstanding44,358,000
10 Day Avg. Volume341,250
30 Day Avg. Volume441,273
Financial Highlights & Ratios
PEG Ratio-0.53
Price to Book (P/B)1.34
Price to Sales (P/S)2.28
P/FCF Ratio10.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,500.00Price Target Upside26.23% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)129.1
Revenue Forecast (FY)¥38.00B
OPTORUN CO.,LTD. Business Overview & Revenue Model
Company Description
Optorun Co.,Ltd., founded in Tokyo, Japan, in 1999, is a company dedicated to the manufacturing, sales, and global distribution of vacuum coating equipment and associated systems. Their extensive product line includes optical thin film coaters, re...
How the Company Makes Money
OPTORUN primarily makes money by selling optical thin-film coating services and coated optical components to business customers (B2B). Its revenue model is largely driven by: (1) Contract coating/processing fees: customers supply substrates or opt...
OPTORUN CO.,LTD. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
88
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.86B | 33.86B | 32.41B | 36.81B | 34.30B | 30.89B |
| Gross Profit | 12.09B | 11.44B | 14.50B | 18.45B | 14.95B | 13.39B |
| EBITDA | 4.28B | 4.54B | 9.47B | 6.99B | 10.11B | 9.26B |
| Net Income | 1.84B | 2.96B | 6.35B | 4.63B | 6.89B | 6.33B |
Balance Sheet | ||||||
| Total Assets | 140.63B | 86.15B | 81.44B | 78.49B | 84.03B | 65.76B |
| Cash, Cash Equivalents and Short-Term Investments | 39.10B | 31.44B | 32.53B | 33.05B | 34.92B | 32.27B |
| Total Debt | 5.45B | 415.79M | 5.06B | 411.08M | 418.89M | 487.31M |
| Total Liabilities | 46.73B | 28.54B | 22.44B | 21.57B | 31.88B | 19.68B |
| Stockholders Equity | 93.69B | 57.38B | 58.69B | 56.32B | 52.14B | 46.07B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 7.54B | 1.93B | 64.70M | 4.18B | 9.75B |
| Operating Cash Flow | 0.00 | 8.53B | 5.05B | 3.18B | 8.56B | 10.69B |
| Investing Cash Flow | 0.00 | 256.71M | -7.70B | -3.60B | -4.40B | 375.57M |
| Financing Cash Flow | 0.00 | -6.26B | -3.81B | -2.21B | -2.17B | -2.74B |
OPTORUN CO.,LTD. Technical Analysis
Negative
3565.00
Price Trends
3181.08
Negative
3526.10
Negative
2891.36
Negative
Market Momentum
-191.82
Positive
31.82
Neutral
9.47
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6235, the sentiment is Negative. The current price of 3565 is above the 20-day moving average (MA) of 2833.90, above the 50-day MA of 3181.08, and above the 200-day MA of 2891.36, indicating a bearish trend. The MACD of -191.82 indicates Positive momentum. The RSI at 31.82 is Neutral, neither overbought nor oversold. The STOCH value of 9.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6235.
OPTORUN CO.,LTD. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥160.22B | 16.05 | ― | 3.12% | 6.16% | 15.40% | |
66 Neutral | ¥98.27B | 2.12 | ― | 2.92% | 32.09% | 3129.41% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ¥24.78B | 39.72 | ― | 2.75% | -8.01% | -62.48% | |
62 Neutral | ¥20.95B | 12.13 | ― | 1.40% | -5.81% | ― | |
61 Neutral | ¥295.24B | 21.71 | 6.85% | 1.91% | 6.39% | 366.86% | |
60 Neutral | ¥108.10B | 54.67 | ― | 2.19% | 21.25% | -53.79% |
* Industrials Sector Average
JP:6235
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OPTORUN CO.,LTD. Corporate Events
Optorun Maps “Second Founding” Strategy Amid FX and TOPIX Pressures
Aug 7, 2026
Optorun Co., Ltd. detailed its strategic direction alongside second-quarter consolidated results, outlining its ambition to transform from a specialized optical thin-film deposition equipment maker into a comprehensive optical thin-film and future...
Optorun Posts Higher Sales but Interim Profit Slips, Keeps Strong Full-Year Outlook and Higher Dividend
Aug 7, 2026
Optorun reported consolidated net sales of ¥15.85 billion for the six months ended June 30, 2026, up 14.5% year on year, but operating profit edged down 1.9% to ¥1.09 billion and ordinary profit fell 35.5% to ¥717 million, resulting...
Optorun Reshapes Executive Team to Tighten Global Semiconductor Leadership
Jul 22, 2026
Optorun Co., Ltd. has announced a series of executive officer changes effective August 31, 2026, following a resolution at its Board of Directors meeting. The reshuffle concentrates leadership within its RD Center, Shanghai operations, and semicon...
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.