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Espec Corp.
(6859)
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Rating:80Outperform
Price Target:
¥4,502.00
▲(34.19% Upside)
Action:Reiterated
Date:06/18/26
The score is driven primarily by strong financial performance, led by a very conservative balance sheet and improved profitability, tempered by cash-flow consistency and mild margin pressure in 2026. Technicals add support due to a strong uptrend and positive MACD, but overbought readings raise near-term pullback risk. Valuation is reasonable with a mid-teens P/E and a moderate dividend yield.
Positive Factors
Steady revenue growth
Steady multi-year revenue expansion indicates durable demand for Espec’s environmental testing equipment and related solutions. Continued top-line growth across several years supports scale, customer relevance, and the company’s ability to fund ongoing operations and strategic investment.
Negative Factors
Uneven cash conversion
Uneven conversion of reported earnings into cash makes financial performance less predictable than the income statement alone suggests. A weak cash-flow year can constrain internally funded investment and shareholder returns, while requiring closer monitoring of working-capital and spending patterns.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Steady multi-year revenue expansion indicates durable demand for Espec’s environmental testing equipment and related solutions. Continued top-line growth across several years supports scale, customer relevance, and the company’s ability to fund ongoing operations and strategic investment.
Read all positive factors
Espec Corp. (6859) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥87.58B
Dividend Yield3.01%
Average Volume (3M)85.07K
Price to Earnings (P/E)14.0
Beta (1Y)1.18
Revenue Growth8.67%
EPS Growth11.23%
CountryJP
Employees1,898
SectorGeneral
Sector StrengthN/A
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)272.77
Shares Outstanding23,781,393
10 Day Avg. Volume64,140
30 Day Avg. Volume85,070
Financial Highlights & Ratios
PEG Ratio-6.59
Price to Book (P/B)1.05
Price to Sales (P/S)0.92
P/FCF Ratio17.73
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)278.48
Revenue Forecast (FY)¥73.38B
Espec Corp. Business Overview & Revenue Model
Company Description
Espec Corp. is a global producer and distributor of environmental testing equipment. The company's business activities are organized into three primary divisions: Equipment Business, Service Business, and Other Business. Its product line features ...
How the Company Makes Money
ESPEC primarily makes money by selling environmental testing and conditioning equipment and related solutions to industrial customers. Its main revenue stream is product sales of environmental test chambers and larger customized testing/conditioni...
Espec Corp. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 71.63B | 70.03B | 67.29B | 62.13B | 52.89B | 41.85B |
| Gross Profit | 24.60B | 24.04B | 23.73B | 21.80B | 17.83B | 13.90B |
| EBITDA | 9.31B | 9.30B | 9.50B | 8.30B | 5.83B | 3.37B |
| Net Income | 5.93B | 5.88B | 6.00B | 4.97B | 3.33B | 1.91B |
Balance Sheet | ||||||
| Total Assets | 80.37B | 82.92B | 75.85B | 78.23B | 67.18B | 61.92B |
| Cash, Cash Equivalents and Short-Term Investments | 19.03B | 14.70B | 12.77B | 16.80B | 14.30B | 16.16B |
| Total Debt | 461.00M | 611.00M | 1.05B | 5.30B | 712.00M | 958.00M |
| Total Liabilities | 20.59B | 21.52B | 19.15B | 25.52B | 20.00B | 16.33B |
| Stockholders Equity | 59.78B | 61.40B | 56.69B | 52.72B | 46.95B | 45.38B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.65B | 2.26B | 498.00M | 947.00M | 1.34B |
| Operating Cash Flow | 0.00 | 5.05B | 4.45B | 2.74B | 1.92B | 2.02B |
| Investing Cash Flow | 0.00 | -273.00M | -1.15B | -3.78B | -1.06B | -932.00M |
| Financing Cash Flow | 0.00 | -3.88B | -7.25B | 2.80B | -2.90B | -2.83B |
Espec Corp. Technical Analysis
Negative
3355.00
Price Trends
4018.60
Negative
3927.60
Negative
3643.66
Positive
Market Momentum
-47.93
Positive
42.64
Neutral
46.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6859, the sentiment is Negative. The current price of 3355 is below the 20-day moving average (MA) of 3938.25, below the 50-day MA of 4018.60, and below the 200-day MA of 3643.66, indicating a neutral trend. The MACD of -47.93 indicates Positive momentum. The RSI at 42.64 is Neutral, neither overbought nor oversold. The STOCH value of 46.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6859.
Espec Corp. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥87.58B | 13.99 | ― | 3.01% | 8.67% | 11.23% | |
80 Outperform | ¥139.20B | 18.88 | ― | 2.20% | 12.39% | 22.44% | |
75 Outperform | ¥20.76B | 15.60 | ― | 9.04% | 9.71% | -3.36% | |
74 Outperform | ¥30.39B | 14.17 | ― | 2.46% | 1.92% | 9.05% | |
72 Outperform | ¥925.94B | 20.97 | 12.45% | 2.42% | 12.48% | 18.44% | |
71 Outperform | ¥19.42B | 19.63 | ― | 2.84% | 2.51% | 0.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:6859
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Espec Corp. Corporate Events
Espec Launches ¥6 Billion Share Buyback to Boost Shareholder Returns
Aug 6, 2026
Espec Corp. has authorized a share buyback of up to 1.3 million common shares, representing 6.07% of its outstanding stock, for a total purchase amount of up to ¥6.0 billion via market purchases on the Tokyo Stock Exchange between August 7, 2...
Espec Completes ¥3.2 Billion Share Buyback Program
Aug 4, 2026
Espec Corp. has completed a previously authorized share repurchase program, acquiring a total of 900,000 common shares on the Tokyo Stock Exchange between November 14, 2025 and July 30, 2026, at a total cost of approximately ¥3.22 billion. Th...
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.