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Ushio
(6925)
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Rating:61Neutral
Price Target:
¥3,956.00
▲(10.44% Upside)
Action:Reiterated
Date:08/20/26
The score is primarily driven by solid but not strong financial performance: profitability and a sharp 2026 revenue rebound are tempered by higher leverage and uneven free cash flow. Technicals add caution with the stock trading below key short-to-intermediate moving averages despite mixed momentum signals. Valuation is middling (P/E 22.19) with a modest 1.87% dividend yield.
Positive Factors
Revenue Recovery
The sharp revenue rebound indicates renewed demand across Ushio’s light-source and photonics businesses. Sustained recovery would improve operating leverage and provide a stronger base for investment in industrial applications.
Negative Factors
Higher Leverage
The sharp increase in debt raises fixed financial obligations and reduces flexibility if industrial capital spending weakens. Higher leverage also makes future investment and shareholder returns more sensitive to cash-flow performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The sharp revenue rebound indicates renewed demand across Ushio’s light-source and photonics businesses. Sustained recovery would improve operating leverage and provide a stronger base for investment in industrial applications.
Read all positive factors
Ushio (6925) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥316.64B
Dividend Yield1.77%
Average Volume (3M)275.19K
Price to Earnings (P/E)23.4
Beta (1Y)1.43
Revenue Growth6.39%
EPS Growth366.86%
CountryJP
Employees5,898
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)169.06
Shares Outstanding83,500,000
10 Day Avg. Volume251,540
30 Day Avg. Volume275,190
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)1.20
Price to Sales (P/S)1.32
P/FCF Ratio24.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥5,250.00Price Target Upside46.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)131.29
Revenue Forecast (FY)¥211.74B
Ushio Business Overview & Revenue Model
Company Description
Ushio Inc., founded in 1949 and headquartered in Tokyo, Japan, operates as a global manufacturer and supplier, distributing its diverse product portfolio across Japan, the wider Asian continent, Europe, North America, and other international terri...
How the Company Makes Money
Ushio primarily makes money by selling light-source products and photonics-based systems to industrial and visual imaging customers, generating revenue from a combination of product sales, system/equipment sales, and recurring aftermarket demand t...
Ushio Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 189.84B | 179.21B | 177.62B | 179.42B | 175.03B | 148.82B |
| Gross Profit | 71.40B | 65.52B | 62.22B | 64.92B | 63.22B | 54.03B |
| EBITDA | 32.25B | 24.41B | 22.32B | 24.43B | 28.22B | 23.19B |
| Net Income | 13.85B | 8.00B | 6.80B | 10.78B | 13.70B | 12.61B |
Balance Sheet | ||||||
| Total Assets | 373.83B | 331.08B | 297.30B | 337.55B | 323.62B | 321.10B |
| Cash, Cash Equivalents and Short-Term Investments | 74.41B | 77.98B | 63.55B | 69.77B | 66.81B | 93.62B |
| Total Debt | 74.72B | 74.61B | 41.40B | 32.85B | 8.32B | 18.66B |
| Total Liabilities | 150.38B | 132.74B | 96.79B | 100.57B | 79.51B | 85.89B |
| Stockholders Equity | 223.44B | 198.32B | 200.50B | 236.96B | 244.09B | 235.12B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 9.54B | 6.78B | 1.03B | -6.90B | 15.67B |
| Operating Cash Flow | 0.00 | 18.14B | 20.42B | 8.97B | 871.00M | 21.63B |
| Investing Cash Flow | 0.00 | -14.11B | 2.72B | 5.39B | -1.18B | -5.52B |
| Financing Cash Flow | 0.00 | 4.20B | -24.99B | -13.49B | -26.81B | -10.63B |
Ushio Technical Analysis
Positive
3582.00
Price Trends
4197.92
Negative
3916.16
Positive
3282.05
Positive
Market Momentum
-55.89
Positive
47.50
Neutral
29.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6925, the sentiment is Positive. The current price of 3582 is below the 20-day moving average (MA) of 4014.70, below the 50-day MA of 4197.92, and above the 200-day MA of 3282.05, indicating a neutral trend. The MACD of -55.89 indicates Positive momentum. The RSI at 47.50 is Neutral, neither overbought nor oversold. The STOCH value of 29.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6925.
Ushio Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥163.63B | 16.40 | ― | 3.39% | 6.16% | 15.40% | |
68 Neutral | ¥533.09B | 19.23 | 15.55% | 2.40% | 12.05% | 57.34% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ¥316.64B | 23.39 | 4.12% | 1.95% | 6.39% | 366.86% | |
60 Neutral | ¥115.14B | 59.49 | ― | 2.72% | 21.25% | -53.79% | |
54 Neutral | ¥295.48B | 20.94 | ― | 1.65% | 5.19% | 13.96% | |
51 Neutral | ¥554.48B | 187.36 | 2.07% | 0.30% | 11.76% | -21.18% |
* Industrials Sector Average
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Ushio Corporate Events
Ushio Delivers Strong Q1 Rebound and Confirms Full-Year Outlook
Aug 4, 2026
Ushio reported a strong rebound in its first-quarter results for the fiscal year ending March 31, 2027, with net sales rising 27.7% year on year to ¥48.99 billion and operating profit surging more than fourfold to ¥4.95 billion. Profit a...
Ushio Discloses Reduction in Stake Held by Major Shareholder M&G
Jul 8, 2026
Ushio Inc. has reported a change in one of its major shareholders following a regulatory filing in Japan by MG Investment Management Limited and its joint holder MG Investments (Singapore) Pte. Ltd. The disclosure indicates that these institutiona...
Ushio Sets Fair-Market Price for Treasury Share Disposal to Employee Stock Plan
May 22, 2026
Ushio has set the disposal price for treasury shares to be allotted as restricted stock to its employee stockholding association at ¥4,179 per share, for a total disposal value of ¥169.75 million. The move is part of a previously approve...
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.