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Mimaki Engineering Co., Ltd.
(6638)
Select Model
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Rating:68Neutral
Price Target:
¥2,370.00
▲(16.98% Upside)
Action:Downgraded
Date:08/17/26
The score is driven by strong valuation (low P/E and decent yield) and improved profitability and leverage, but it is held back by weak/volatile cash flow (including a latest-year drop in cash conversion) and only mixed technical momentum (negative MACD and below the 20-day average).
Positive Factors
Recurring installed-base revenue
Mimaki’s equipment-led model is reinforced by recurring consumables, replacement parts, maintenance, technical support, and software revenue. As the installed base grows, these follow-on purchases can deepen customer relationships and make revenue more durable than one-time hardware sales alone.
Negative Factors
Weak and volatile cash conversion
The latest sharp decline in operating and free cash flow despite higher net income shows that reported profitability is not consistently converting into cash. This can constrain internally funded investment, make working-capital swings more consequential, and reduce confidence in near-term cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring installed-base revenue
Mimaki’s equipment-led model is reinforced by recurring consumables, replacement parts, maintenance, technical support, and software revenue. As the installed base grows, these follow-on purchases can deepen customer relationships and make revenue more durable than one-time hardware sales alone.
Read all positive factors
Mimaki Engineering Co., Ltd. (6638) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥64.12B
Dividend Yield2.57%
Average Volume (3M)105.60K
Price to Earnings (P/E)9.2
Beta (1Y)1.22
Revenue Growth0.95%
EPS Growth17.19%
CountryJP
Employees2,152
SectorTechnology
Sector Strength88
IndustryTechnology Distributors
Share Statistics
EPS (TTM)233.01
Shares Outstanding32,040,000
10 Day Avg. Volume97,960
30 Day Avg. Volume105,600
Financial Highlights & Ratios
PEG Ratio0.73
Price to Book (P/B)1.13
Price to Sales (P/S)0.54
P/FCF Ratio27.65
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)259.2
Revenue Forecast (FY)¥94.00B
Mimaki Engineering Co., Ltd. Business Overview & Revenue Model
Company Description
Mimaki Engineering Co., Ltd., a Japanese enterprise, operates internationally, specializing in the development, manufacturing, and global distribution of digital fabrication equipment and associated software solutions. Their extensive hardware ran...
How the Company Makes Money
Mimaki primarily makes money through (1) sales of hardware systems and (2) recurring revenue tied to those installed systems. The core revenue stream is the sale of digital inkjet printers and cutting plotters (including units targeted at sign/gra...
Mimaki Engineering Co., Ltd. Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
74
Positive
Cash Flow
46
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 83.73B | 83.96B | 75.63B | 70.61B | 59.51B |
| Gross Profit | 41.20B | 41.13B | 34.75B | 28.45B | 23.85B |
| EBITDA | 11.59B | 10.92B | 7.25B | 6.00B | 4.63B |
| Net Income | 6.74B | 6.16B | 3.71B | 2.81B | 2.35B |
Balance Sheet | |||||
| Total Assets | 82.89B | 76.17B | 75.72B | 69.79B | 60.86B |
| Cash, Cash Equivalents and Short-Term Investments | 16.37B | 15.45B | 17.37B | 10.49B | 8.97B |
| Total Debt | 23.87B | 22.94B | 28.50B | 28.85B | 23.87B |
| Total Liabilities | 42.78B | 43.80B | 48.33B | 47.73B | 42.14B |
| Stockholders Equity | 39.90B | 32.22B | 27.26B | 21.99B | 18.67B |
Cash Flow | |||||
| Free Cash Flow | 1.64B | 5.81B | 7.91B | -1.72B | -6.35B |
| Operating Cash Flow | 4.62B | 7.86B | 9.56B | 490.41M | -5.13B |
| Investing Cash Flow | -5.39B | -2.44B | -2.60B | -3.50B | -2.71B |
| Financing Cash Flow | -1.32B | -7.54B | -1.44B | 3.52B | 4.28B |
Mimaki Engineering Co., Ltd. Technical Analysis
Positive
2026.00
Price Trends
2010.57
Positive
1919.06
Positive
1774.55
Positive
Market Momentum
65.71
Negative
66.74
Neutral
75.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6638, the sentiment is Positive. The current price of 2026 is above the 20-day moving average (MA) of 2004.87, above the 50-day MA of 2010.57, and above the 200-day MA of 1774.55, indicating a bullish trend. The MACD of 65.71 indicates Negative momentum. The RSI at 66.74 is Neutral, neither overbought nor oversold. The STOCH value of 75.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6638.
Mimaki Engineering Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ¥277.14B | 7.88 | 18.73% | 2.94% | 24.06% | 105.61% | |
80 Outperform | ¥13.85B | 8.52 | ― | 3.62% | 1.45% | 13.08% | |
77 Outperform | ¥324.48B | 10.62 | ― | 2.97% | 14.49% | 9.23% | |
69 Neutral | ¥75.08B | 18.94 | ― | 2.63% | 12.94% | 85.20% | |
68 Neutral | ¥64.12B | 9.18 | ― | 2.57% | 0.95% | 17.19% | |
64 Neutral | ¥49.00B | 15.81 | ― | 3.28% | 2.80% | -33.11% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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Mimaki Engineering Co., Ltd. Corporate Events
Mimaki Completes Treasury Share Disposal for Executive Restricted Stock Plan
Aug 24, 2026
Mimaki Engineering Co., Ltd. has completed payment procedures for the disposal of treasury shares used as restricted stock compensation for senior management. The program, previously approved by the board on July 24, 2026, involves granting common...
Mimaki Engineering Delivers Strong Q1 Profit Growth but Keeps Full-Year Outlook Flat
Aug 7, 2026
Mimaki Engineering reported consolidated net sales of ¥20.1 billion for the quarter ended June 30, 2026, up 3.3% year on year, with operating profit rising 21.6% to ¥2.35 billion and profit attributable to owners of parent climbing 22.7%...
Mimaki Highlights FY2026 Q1 Results and New UV Inkjet Printer Launch
Aug 7, 2026
Mimaki Engineering released presentation materials for its FY2026 first-quarter financial results, along with forecasts for the first half and full fiscal year, signaling continued transparency around its performance and outlook. As part of its pr...
Mimaki Engineering to Grant Restricted Treasury Shares to Directors and Executives
Jul 24, 2026
Mimaki Engineering Co., Ltd. has approved the disposal of 13,414 treasury shares as restricted stock-based compensation to its directors and executive officers. The shares, priced at 2,210 yen each for a total of 29,644,940 yen, will be allocated ...
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.