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Meiko Electronics Co., Ltd.
(6787)
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Rating:54Neutral
Price Target:
¥9,863.00
▼(-7.91% Downside)
Action:Reiterated
Date:10/30/26
The score is primarily constrained by volatile and recently deeply negative free cash flow and still-notable leverage, despite strong improvements in revenue scale and profitability. Technicals also weaken the outlook, with the stock trading below key moving averages and negative MACD. Valuation is neutral-to-slightly costly with a modest dividend yield.
Positive Factors
Revenue Growth
Revenue has more than doubled across the reported period and still grew 13.0% in the latest year. This indicates meaningful expansion in customer demand and production scale, supporting operating leverage and giving Meiko a stronger base for sustaining earnings over the next several quarters.
Negative Factors
Negative Free Cash Flow
Free cash flow has become sharply negative and volatile despite higher operating cash flow, showing that reported profits are not consistently converting into available cash. Persistent investment requirements or working-capital swings could constrain debt reduction, shareholder returns, and funding flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Revenue has more than doubled across the reported period and still grew 13.0% in the latest year. This indicates meaningful expansion in customer demand and production scale, supporting operating leverage and giving Meiko a stronger base for sustaining earnings over the next several quarters.
Read all positive factors
Meiko Electronics Co., Ltd. (6787) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥449.17B
Dividend Yield1.29%
Average Volume (3M)1.16M
Price to Earnings (P/E)22.0
Beta (1Y)1.96
Revenue Growth22.48%
EPS Growth27.77%
CountryJP
Employees14,332
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)389.49
Shares Outstanding53,606,640
10 Day Avg. Volume1,115,090
30 Day Avg. Volume1,162,930
Financial Highlights & Ratios
PEG Ratio0.96
Price to Book (P/B)4.55
Price to Sales (P/S)2.58
P/FCF Ratio-27.78
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)579.88
Revenue Forecast (FY)¥348.88B
Meiko Electronics Co., Ltd. Business Overview & Revenue Model
Company Description
Meiko Electronics Co., Ltd. is a global enterprise specializing in the development, production, and distribution of printed circuit boards (PCBs) and related electronic components. Its market presence spans Japan, various other Asian nations, Nort...
How the Company Makes Money
Meiko Electronics makes money primarily by manufacturing and selling printed circuit boards (PCBs) and by providing electronics manufacturing services tied to PCB assembly and related production. The core revenue stream comes from customer orders ...
Meiko Electronics Co., Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
63
Positive
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 260.73B | 240.57B | 206.81B | 179.46B | 167.28B | 151.28B |
| Gross Profit | 53.67B | 50.43B | 39.78B | 30.55B | 26.02B | 27.39B |
| EBITDA | 45.75B | 43.77B | 33.67B | 26.85B | 21.83B | 21.29B |
| Net Income | 19.99B | 19.78B | 14.92B | 11.31B | 8.85B | 11.45B |
Balance Sheet | ||||||
| Total Assets | 391.49B | 335.29B | 256.37B | 229.96B | 202.39B | 168.33B |
| Cash, Cash Equivalents and Short-Term Investments | 39.86B | 27.50B | 23.15B | 21.60B | 17.58B | 10.70B |
| Total Debt | 160.49B | 121.91B | 87.57B | 79.26B | 75.79B | 67.00B |
| Total Liabilities | 241.95B | 191.48B | 140.76B | 124.50B | 117.92B | 109.64B |
| Stockholders Equity | 141.95B | 136.27B | 108.24B | 98.18B | 77.32B | 58.49B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -22.30B | -2.74B | 1.91B | -3.14B | 2.14B |
| Operating Cash Flow | 0.00 | 27.53B | 21.66B | 23.36B | 15.71B | 13.97B |
| Investing Cash Flow | 0.00 | -55.48B | -24.33B | -21.59B | -22.07B | -11.79B |
| Financing Cash Flow | 0.00 | 30.08B | 4.14B | 681.00M | 12.99B | -4.73B |
Meiko Electronics Co., Ltd. Technical Analysis
Negative
10710.00
Price Trends
10423.93
Negative
11901.13
Negative
12022.41
Negative
Market Momentum
-530.88
Positive
36.15
Neutral
38.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6787, the sentiment is Negative. The current price of 10710 is below the 20-day moving average (MA) of 11077.25, above the 50-day MA of 10423.93, and below the 200-day MA of 12022.41, indicating a bearish trend. The MACD of -530.88 indicates Positive momentum. The RSI at 36.15 is Neutral, neither overbought nor oversold. The STOCH value of 38.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6787.
Meiko Electronics Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥748.91B | 23.56 | 8.79% | 2.20% | 15.94% | 6.46% | |
68 Neutral | ¥408.72B | 16.02 | 5.95% | 3.07% | 2.28% | -22.89% | |
66 Neutral | ¥61.87B | 21.86 | ― | 5.67% | 9.70% | 3.12% | |
62 Neutral | ¥78.21B | 14.84 | ― | 1.88% | 14.45% | 543.68% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | ¥449.17B | 21.95 | ― | 1.29% | 22.48% | 27.77% | |
49 Neutral | ¥171.39B | 31.36 | 3.74% | 2.21% | 10.23% | -33.88% |
* Technology Sector Average
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Meiko Electronics Co., Ltd. Corporate Events
Meiko Electronics to Acquire Unimicron Japan, Boosting Domestic PCB Capacity
Oct 27, 2026
Meiko Electronics Co., Ltd. has decided to acquire all outstanding shares of Unimicron Japan Co., Ltd. from Taiwan-based Unimicron Technology Corp. to make UMJ a wholly owned subsidiary. The move comes as Meiko builds a new plant in Vietnam and se...
Meiko Electronics Announces 2-for-1 Stock Split and Technical Dividend Forecast Revision
Sep 28, 2026
Meiko Electronics will implement a two-for-one stock split of its common shares, with shareholders of record as of November 1, 2026 receiving one additional share for each share held, effectively doubling the number of issued shares to 53,606,640....
Meiko Electronics Delivers Strong PCB-Led Growth in FY2026 Q1
Aug 6, 2026
Meiko Electronics reported a strong start to FY2026, with first-quarter net sales rising to ¥73.2 billion, up 38.0% year on year, driven mainly by robust growth in its PCB business. The PCB segment’s sales climbed to ¥60.2 billion,...
Meiko Electronics Posts Strong Q1 Results and Raises Full-Year Outlook
Aug 6, 2026
Meiko Electronics reported a strong start to its fiscal year, with net sales for the three months ended June 30, 2026 rising 38.0% year on year to ¥73.2 billion, while operating profit increased 8.7% to ¥6.1 billion and profit attributab...
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.