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Espec Corp.
(6859)
Select Model
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Rating:74Outperform
Price Target:
¥4,452.00
▲(32.70% Upside)
Action:Reiterated
Date:09/18/26
The score is driven primarily by strong financial health (notably a low-leverage balance sheet and improved profitability), tempered by inconsistent cash-flow conversion and slight margin pressure signals. Valuation is supportive with a moderate P/E and ~2.9% yield, while technical indicators are largely neutral with negative MACD limiting the overall score.
Positive Factors
Steady Revenue Growth
Steady multi-year revenue expansion indicates continued demand for the company’s environmental testing equipment and related solutions. Although growth moderated recently, a rising revenue base supports ongoing customer adoption, investment capacity, and durable operating scale over the next several quarters.
Negative Factors
Uneven Cash Conversion
Uneven conversion of accounting earnings into free cash flow can limit the resources available for reinvestment, dividends, or other capital allocation. The 2025 gap between net income and FCF suggests that stronger reported profitability does not consistently translate into equivalent cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Steady multi-year revenue expansion indicates continued demand for the company’s environmental testing equipment and related solutions. Although growth moderated recently, a rising revenue base supports ongoing customer adoption, investment capacity, and durable operating scale over the next several quarters.
Read all positive factors
Espec Corp. (6859) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥89.15B
Dividend Yield2.86%
Average Volume (3M)60.86K
Price to Earnings (P/E)14.9
Beta (1Y)1.17
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. Volume40,569
30 Day Avg. Volume60,863
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)283.05
Revenue Forecast (FY)¥73.84B
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
Positive
3355.00
Price Trends
3959.88
Positive
3948.99
Positive
3640.37
Positive
Market Momentum
12.44
Negative
55.74
Neutral
64.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6859, the sentiment is Positive. The current price of 3355 is below the 20-day moving average (MA) of 3893.85, below the 50-day MA of 3959.88, and below the 200-day MA of 3640.37, indicating a bullish trend. The MACD of 12.44 indicates Negative momentum. The RSI at 55.74 is Neutral, neither overbought nor oversold. The STOCH value of 64.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥24.07B | 17.74 | ― | 3.18% | 9.71% | -3.36% | |
80 Outperform | ¥144.11B | 19.93 | ― | 2.15% | 12.39% | 22.44% | |
74 Outperform | ¥89.15B | 14.87 | ― | 2.76% | 8.67% | 11.23% | |
74 Outperform | ¥30.94B | 14.73 | ― | 3.30% | 1.92% | 9.05% | |
72 Outperform | ¥1.02T | 24.17 | 12.45% | 3.13% | 12.48% | 18.44% | |
71 Outperform | ¥19.73B | 20.87 | ― | 2.63% | 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.