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Lasertec
(6920)
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Rating:69Neutral
Price Target:
¥41,019.00
▲(18.48% Upside)
Action:Downgraded
Date:08/09/26
The score is driven primarily by very strong financial performance (high margins and a fortress balance sheet). Offsetting this are weak technical conditions (below key moving averages with negative MACD) and a relatively expensive valuation (high P/E with a low dividend yield).
Positive Factors
Exceptional profitability
Lasertec's very high gross, operating and net margins indicate durable pricing power and superior product mix in inspection/metrology. Such entrenched profitability supports reinvestment in R&D, funds recurring service capabilities, and provides margin cushions through semiconductor cycles, sustaining long-term earnings power.
Negative Factors
Near-term revenue slowdown/cyclicality
Revenue down ~8.6% TTM highlights exposure to semiconductor capex cyclicality. Dependence on customers' investment cycles for tool purchases makes top-line and order visibility volatile across 2–6 month horizons, raising execution risk and potentially pressuring margins if demand softness persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Exceptional profitability
Lasertec's very high gross, operating and net margins indicate durable pricing power and superior product mix in inspection/metrology. Such entrenched profitability supports reinvestment in R&D, funds recurring service capabilities, and provides margin cushions through semiconductor cycles, sustaining long-term earnings power.
Read all positive factors
Lasertec (6920) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.12T
Dividend Yield0.95%
Average Volume (3M)9.74M
Price to Earnings (P/E)40.8
Beta (1Y)1.53
Revenue Growth-8.35%
EPS Growth-8.09%
CountryJP
Employees1,163
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)862.69
Shares Outstanding94,286,400
10 Day Avg. Volume8,887,570
30 Day Avg. Volume9,738,330
Financial Highlights & Ratios
PEG Ratio-7.15
Price to Book (P/B)18.08
Price to Sales (P/S)19.36
P/FCF Ratio94.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥53,350.00Price Target Upside54.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)1,130.13
Revenue Forecast (FY)¥294.30B
Lasertec Business Overview & Revenue Model
Company Description
Lasertec Corporation operates globally, specializing in the development, production, sale, and servicing of advanced equipment for the semiconductor industry, flat panel displays, and sophisticated laser microscopes. Within the semiconductor secto...
How the Company Makes Money
Lasertec makes money mainly by selling capital equipment—high-value semiconductor inspection and metrology systems—to chipmakers, foundries, and photomask manufacturers. A key revenue stream comes from photomask-related tools, including systems us...
Lasertec Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
74
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 230.49B | 251.48B | 213.51B | 152.83B | 90.38B |
| Gross Profit | 136.48B | 148.26B | 107.48B | 84.02B | 47.79B |
| EBITDA | 109.93B | 124.13B | 86.76B | 67.18B | 37.06B |
| Net Income | 77.48B | 84.65B | 59.08B | 46.16B | 24.85B |
Balance Sheet | |||||
| Total Assets | 336.65B | 329.60B | 273.04B | 271.57B | 178.63B |
| Cash, Cash Equivalents and Short-Term Investments | 91.50B | 86.09B | 38.15B | 29.77B | 23.49B |
| Total Debt | 0.00 | 177.00M | 76.00M | 5.04B | 10.02B |
| Total Liabilities | 89.80B | 119.70B | 121.72B | 162.43B | 105.88B |
| Stockholders Equity | 246.85B | 209.90B | 151.31B | 109.14B | 72.75B |
Cash Flow | |||||
| Free Cash Flow | 47.05B | 75.76B | 30.35B | 21.80B | -4.22B |
| Operating Cash Flow | 48.54B | 77.87B | 33.32B | 40.55B | -3.46B |
| Investing Cash Flow | -1.88B | -2.42B | -3.57B | -20.57B | -5.39B |
| Financing Cash Flow | -43.18B | -24.57B | -23.14B | -15.56B | 2.15B |
Lasertec Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥24.90T | 54.40 | 56.56% | 0.20% | 36.20% | 104.76% | |
70 Outperform | ¥25.23T | 41.88 | 28.89% | 1.79% | 8.25% | 16.50% | |
69 Neutral | ¥3.12T | 40.79 | 40.97% | 0.76% | -8.35% | -8.09% | |
68 Neutral | ¥2.46T | 30.62 | 20.78% | 0.92% | -5.60% | -10.68% | |
67 Neutral | ¥6.58T | 44.41 | 26.19% | 0.83% | 15.20% | 17.70% | |
63 Neutral | ¥743.23B | 28.62 | 13.70% | 1.50% | 13.77% | 3.10% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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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.