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Nippon Avionics Co., Ltd.
(6946)
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Rating:69Neutral
Price Target:
¥7,829.00
▲(75.54% Upside)
Action:Reiterated
Date:09/18/26
Overall score reflects strong recent profitability and a bullish price trend, offset by a significant cash-flow deterioration (negative operating and free cash flow) alongside rising leverage. Valuation contributes positively mainly due to the very high dividend yield, but does not fully offset the cash-conversion risk.
Positive Factors
Revenue and earnings growth
The sharp increase in revenue and near-doubling of net income indicate stronger demand and operating leverage in the latest annual period. If execution remains consistent, this higher earnings base can support internal investment and reinforce the company’s position in defense and industrial electronics.
Negative Factors
Negative cash conversion
Negative operating and free cash flow show that strong reported earnings did not convert into cash in the latest year. Continued volatility could increase reliance on financing, limit internally funded investment, and make results more vulnerable if working-capital or project cash needs persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings growth
The sharp increase in revenue and near-doubling of net income indicate stronger demand and operating leverage in the latest annual period. If execution remains consistent, this higher earnings base can support internal investment and reinforce the company’s position in defense and industrial electronics.
Read all positive factors
Nippon Avionics Co., Ltd. (6946) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥122.35B
Dividend Yield0.14%
Average Volume (3M)173.32K
Price to Earnings (P/E)23.8
Beta (1Y)2.01
Revenue Growth54.05%
EPS Growth121.12%
CountryJP
Employees763
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)306.59
Shares Outstanding16,764,810
10 Day Avg. Volume241,350
30 Day Avg. Volume173,316
Financial Highlights & Ratios
PEG Ratio0.23
Price to Book (P/B)5.56
Price to Sales (P/S)3.07
P/FCF Ratio-20.57
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)344.85
Revenue Forecast (FY)¥35.00B
Nippon Avionics Co., Ltd. Business Overview & Revenue Model
Company Description
Nippon Avionics Co., Ltd., headquartered in Yokohama, Japan, operates as a Japanese manufacturer and vendor, primarily focusing on micro joining equipment within its domestic market. The company offers a comprehensive range of products, including ...
How the Company Makes Money
Nippon Avionics makes money primarily by selling electronic products, subsystems, and system-level solutions, and by providing associated engineering and lifecycle services. Key revenue streams typically include (1) product and system sales: reven...
Nippon Avionics Co., Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 32.46B | 29.19B | 20.12B | 18.05B | 17.75B | 19.23B |
| Gross Profit | 10.75B | 9.51B | 6.64B | 5.72B | 5.74B | 6.04B |
| EBITDA | 7.09B | 5.93B | 3.23B | 2.47B | 2.25B | 2.07B |
| Net Income | 4.58B | 3.82B | 1.96B | 2.15B | 1.82B | 1.63B |
Balance Sheet | ||||||
| Total Assets | 40.49B | 36.08B | 27.64B | 28.28B | 23.96B | 23.06B |
| Cash, Cash Equivalents and Short-Term Investments | 1.38B | 1.02B | 1.93B | 2.34B | 2.11B | 3.05B |
| Total Debt | 15.49B | 10.49B | 4.79B | 4.79B | 3.65B | 3.87B |
| Total Liabilities | 23.41B | 19.97B | 13.68B | 13.97B | 11.79B | 12.29B |
| Stockholders Equity | 17.08B | 16.10B | 13.96B | 14.30B | 12.17B | 10.77B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -4.35B | 1.74B | -706.00M | -1.02B | 3.20B |
| Operating Cash Flow | 0.00 | -3.62B | 2.15B | -206.00M | -860.00M | 3.35B |
| Investing Cash Flow | 0.00 | -864.00M | -471.00M | -517.00M | 151.00M | -263.00M |
| Financing Cash Flow | 0.00 | 3.58B | -2.08B | 956.00M | -230.00M | -2.33B |
Nippon Avionics Co., Ltd. Technical Analysis
Positive
4460.00
Price Trends
5655.00
Positive
5632.00
Positive
5854.42
Positive
Market Momentum
349.14
Negative
73.00
Negative
90.39
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6946, the sentiment is Positive. The current price of 4460 is below the 20-day moving average (MA) of 6150.50, below the 50-day MA of 5655.00, and below the 200-day MA of 5854.42, indicating a bullish trend. The MACD of 349.14 indicates Negative momentum. The RSI at 73.00 is Negative, neither overbought nor oversold. The STOCH value of 90.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6946.
Nippon Avionics Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥127.08B | 6.82 | 12.49% | 3.88% | 40.52% | 147.61% | |
69 Neutral | ¥122.35B | 23.81 | 30.34% | 0.14% | 54.05% | 121.12% | |
69 Neutral | ¥201.85B | 17.85 | ― | 1.93% | 16.79% | 100.39% | |
68 Neutral | ¥8.69T | 39.75 | 38.53% | 0.76% | 27.94% | 99.60% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ¥56.39B | -21.07 | ― | 4.01% | 17.15% | -463.16% | |
56 Neutral | ¥2.74T | 30.64 | 22.61% | 0.54% | 12.86% | 165.14% |
* Industrials Sector Average
JP:6946
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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.