Wintest Corp. (6721) AI Stock Analysis

Wintest Corp.

(TSE/TYO:6721)

Select Model

Rating:45.7Neutral

Price Target:JPY 120.00▼(-2.44% Downside)

Action:reiterated

Date:10/24/26

Severe financial weakness and loss-based valuation concerns outweigh the strong technical trend. The stock's momentum provides support, but major profitability, cash-flow, and balance-sheet risks result in a weak overall score.

Positive Factors

Revenue ReboundThe sharp 2025 revenue rebound shows that customer demand can recover strongly after a stagnant period. Sustained testing volumes would improve operating absorption and provide a foundation for restoring profitability if cost control and capacity utilization improve over the next several quarters.

Negative Factors

Severe Profitability WeaknessThe revenue recovery has not translated into economic profitability. Deeply negative gross profit and a widening net loss indicate that the current cost structure is not being covered by sales, creating a durable challenge to reinvestment, financial resilience, and sustainable earnings recovery.

Wintest Corp. (6721) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 7.24B
Dividend Yield: ―
Average Volume (3M): 6.62M
Price to Earnings (P/E): -5.4
Beta (1Y): 0.34
Revenue Growth: 38.96%
EPS Growth: 18.34%
Country: Japan
Employees: 68
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Wintest Corp. Business Overview & Revenue Model

Company Description

Wintest Corp., established in Yokohama, Japan, in 1993, is primarily engaged in the design, development, and distribution of automated test equipment (ATE) for semiconductor integrated circuits and flat panel displays. The company's key markets, pred...

How the Company Makes Money

The company primarily makes money by charging customers for semiconductor testing services. Key revenue streams typically include: (1) wafer sort (probing) services, where dies on a wafer are electrically tested and binned before packaging; (2) final...

Wintest Corp. Financial Statement Overview

Summary

Revenue is growing, but severe losses, deeply negative margins, persistent operating cash burn, shrinking equity, and rising leverage indicate substantial financial distress.

Income Statement

12Very Negative

Balance Sheet

35Negative

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	455.79M	429.05M	417.09M	407.00M	210.31M	307.58M
Gross Profit	-528.94M	-491.01M	-338.84M	151.00M	62.16M	18.06M
EBITDA	-1.22B	-1.23B	-1.09B	11.34M	13.96M	-629.72M
Net Income	-1.24B	-1.24B	-1.11B	-554.00M	-686.24M	-629.18M
Balance Sheet
Total Assets	691.16M	919.36M	1.20B	1.97B	1.90B	1.90B
Cash, Cash Equivalents and Short-Term Investments	111.44M	82.96M	90.70M	361.67M	278.48M	219.11M
Total Debt	99.73M	211.12M	245.33M	169.37M	358.64M	110.50M
Total Liabilities	320.80M	575.86M	495.37M	308.48M	549.52M	305.78M
Stockholders Equity	370.35M	343.50M	699.93M	1.67B	1.35B	1.59B
Cash Flow
Free Cash Flow	0	-752.65M	-664.21M	-558.30M	-613.48M	-858.30M
Operating Cash Flow	0	-751.17M	-662.30M	-558.27M	-613.48M	-856.09M
Investing Cash Flow	0	-30.71M	-1.91M	-300.00K	3.88M	21.85M
Financing Cash Flow	0	667.14M	171.22M	641.00M	667.98M	68.62M

Wintest Corp. Technical Analysis

Technical Analysis SentimentNeutral

Last Price123.00

Price Trends

50DMA94.32Positive

100DMA87.60Positive

200DMA97.86Positive

Market Momentum

MACD17.83Positive

RSI49.79Neutral

STOCH5.37Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6721, the sentiment is Neutral. The current price of 123.00 is below the 20-day moving average (MA) of 126.00, above the 50-day MA of 94.32, and above the 200-day MA of 97.86, indicating a neutral trend. The MACD of 17.83 indicates Positive momentum. The RSI at 49.79 is Neutral, neither overbought nor oversold. The STOCH value of 5.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:6721.

Wintest Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:6721 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:6859	78Outperform	JPY 94.85B	15.54	―	2.71%	8.67%	11.23%
JP:6863	78Outperform	JPY 21.50B	16.15	―	6.67%	9.71%	-3.36%
JP:6866	78Outperform	JPY 120.91B	15.44	―	2.48%	16.76%	35.84%
JP:6853	71Outperform	JPY 18.86B	19.14	―	2.91%	2.51%	0.17%
JP:6858	66Neutral	JPY 8.30B	9.75	―	3.65%	15.62%	50.30%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
JP:6721	46Neutral	JPY 7.46B	-5.35	―	―	38.96%	18.34%

* General Sector Average

Performance Comparison

JP:6721 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:6721	Wintest Corp.	123.00	10.00	8.85%
JP:6853	Kyowa Electronic Instruments Co., Ltd.	739.00	64.11	9.50%
JP:6858	Ono Sokki Co., Ltd.	740.00	167.72	29.31%
JP:6859	Espec Corp.	4240.00	842.42	24.79%
JP:6863	Nireco Corporation	1020.00	431.09	73.20%
JP:6866	Hioki E.E.Corporation	8860.00	3080.71	53.31%

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.

Date of analysis: Oct 24, 2026

Wintest Corp. AI Stock Analysis