Endo Lighting Corporation (6932) AI Stock Analysis

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Endo Lighting Corporation

(TSE/TYO:6932)

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Rating:69Neutral

Price Target:JPY 2,387.00▲(9.60% Upside)

Action:downgraded

Date:11/03/26

The score is supported primarily by solid financial performance (growth and improved leverage) and attractive valuation (low P/E and strong dividend yield). These positives are tempered by weak technical signals (below key moving averages, negative MACD) and cash-flow volatility that adds uncertainty to near-term cash consistency.

Positive Factors

Sustained Revenue GrowthRevenue expansion across multiple years indicates durable demand for Endo Lighting’s products and solutions rather than a single-period uplift. Continued top-line growth can support operating scale, strengthen the company’s position in lighting projects, and provide a foundation for reinvestment over the next several quarters.

Negative Factors

Uneven Cash ConversionCash generation has been materially inconsistent despite positive results in stronger years. The weak 2025 operating cash flow and negative free cash flow reduce confidence in reliable cash conversion, potentially making funding, investment planning, and shareholder returns more dependent on annual operating swings.

Endo Lighting Corporation (6932) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 32.11B
Dividend Yield: 4.04%
Average Volume (3M): 39.79K
Price to Earnings (P/E): 7.6
Beta (1Y): 1.14
Revenue Growth: 6.54%
EPS Growth: -17.62%
Country: Japan
Employees: 1,648
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

Endo Lighting Corporation Business Overview & Revenue Model

Company Description

ENDO Lighting Corporation is a global enterprise that develops, produces, and distributes a wide range of lighting solutions. Its extensive product catalog particularly emphasizes LED technology, including recessed downlights, adjustable spotlights,...

How the Company Makes Money

Endo Lighting Corporation makes money primarily by selling lighting-related products and solutions. Key revenue streams include (1) sales of lighting fixtures and related hardware (e.g., luminaires and associated components) to customers involved in...

Endo Lighting Corporation Financial Statement Overview

Summary

Strong multi-year revenue growth and generally healthy operating profitability, supported by a materially improved balance sheet with lower leverage. The main offset is uneven cash generation, including a weak 2025 operating cash flow period and negative free cash flow, which reduces confidence in cash-conversion consistency.

Income Statement

74Positive

Balance Sheet

78Positive

Cash Flow

60Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	55.95B	55.47B	53.73B	51.71B	45.73B	40.64B
Gross Profit	23.19B	22.77B	20.32B	19.46B	15.61B	15.54B
EBITDA	9.38B	9.20B	8.28B	8.40B	6.22B	7.08B
Net Income	4.31B	4.34B	4.80B	4.65B	2.96B	3.33B
Balance Sheet
Total Assets	75.89B	76.59B	67.67B	62.75B	57.34B	55.59B
Cash, Cash Equivalents and Short-Term Investments	22.52B	25.06B	15.69B	16.37B	12.05B	10.79B
Total Debt	14.71B	15.31B	13.08B	12.41B	16.02B	16.01B
Total Liabilities	25.19B	26.56B	23.61B	24.18B	25.80B	27.35B
Stockholders Equity	50.69B	50.02B	44.05B	38.57B	31.54B	28.24B
Cash Flow
Free Cash Flow	0	6.34B	-1.24B	7.31B	1.01B	1.88B
Operating Cash Flow	0	10.28B	2.92B	10.15B	3.90B	5.03B
Investing Cash Flow	0	-4.30B	-4.32B	-2.90B	-2.79B	-3.06B
Financing Cash Flow	0	1.13B	-6.00M	-4.09B	-461.00M	-2.13B

Endo Lighting Corporation Technical Analysis

Technical Analysis SentimentNegative

Last Price2178.00

Price Trends

50DMA2488.08Negative

100DMA2465.89Negative

200DMA2513.86Negative

Market Momentum

MACD-58.51Positive

RSI30.66Neutral

STOCH21.14Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6932, the sentiment is Negative. The current price of 2178.00 is below the 20-day moving average (MA) of 2448.05, below the 50-day MA of 2488.08, and below the 200-day MA of 2513.86, indicating a bearish trend. The MACD of -58.51 indicates Positive momentum. The RSI at 30.66 is Neutral, neither overbought nor oversold. The STOCH value of 21.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6932.

Endo Lighting Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:6932 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:8130	82Outperform	JPY 188.01B	11.04	―	4.97%	3.91%	28.69%
JP:5946	73Outperform	JPY 67.02B	22.28	2.20%	2.32%	-1.15%	31.88%
JP:7989	73Outperform	JPY 54.45B	15.41	―	3.99%	4.41%	1.84%
JP:7981	72Outperform	JPY 197.70B	13.21	―	4.22%	1.75%	7.95%
JP:6932	69Neutral	JPY 32.43B	7.60	―	4.04%	6.54%	-17.62%
JP:7874	68Neutral	JPY 33.55B	11.32	―	3.31%	3.16%	66.87%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

JP:6932 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:6932	Endo Lighting Corporation	2178.00	188.93	9.50%
JP:5946	Chofu Seisakusho Co	1987.00	75.03	3.92%
JP:7874	LEC INC	936.00	-62.19	-6.23%
JP:7981	Takara Standard Co., Ltd	3030.00	577.60	23.55%
JP:7989	Tachikawa Corporation	2506.00	641.21	34.39%
JP:8130	Sangetsu Corporation	3120.00	226.16	7.82%

Endo Lighting Corporation Corporate Events

Endo Lighting Posts Higher Sales, Steady Dividends Despite Profit Dip

Oct 30, 2026

Endo Lighting reported consolidated net sales of ¥27.13 billion for the six months ended September 30, 2026, up 7.9% year on year, with operating profit rising slightly to ¥2.12 billion and ordinary profit to ¥2.33 billion. Profit attr...

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.

Date of analysis: Nov 03, 2026

Endo Lighting Corporation AI Stock Analysis