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AS ONE
(7476)
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Rating:71Outperform
Price Target:
¥2,630.00
▲(6.39% Upside)
Action:Upgraded
Date:08/17/26
The score is primarily driven by strong financial performance (steady growth, resilient margins, and a low-leverage balance sheet), partially offset by inconsistent cash flow conversion. Technicals are mixed with near-term softness despite longer-term support, while valuation is reasonable and aided by a ~2.73% dividend yield.
Positive Factors
Steady revenue growth
Sustained revenue expansion indicates continued demand across laboratory, healthcare, and industrial customers. AS ONE’s broad product range and recurring procurement needs can support durable growth as institutions and companies replenish supplies.
Negative Factors
Uneven operating cash conversion
Weak conversion of accounting profit into operating cash can reflect working-capital demands such as inventory and receivables. If persistent, this may constrain internally funded growth and make reported earnings less representative of cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Sustained revenue expansion indicates continued demand across laboratory, healthcare, and industrial customers. AS ONE’s broad product range and recurring procurement needs can support durable growth as institutions and companies replenish supplies.
Read all positive factors
AS ONE (7476) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥172.98B
Dividend Yield2.63%
Average Volume (3M)144.72K
Price to Earnings (P/E)17.8
Beta (1Y)0.48
Revenue Growth9.35%
EPS Growth14.47%
CountryJP
Employees758
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)128.35
Shares Outstanding75,012,540
10 Day Avg. Volume132,160
30 Day Avg. Volume144,720
Financial Highlights & Ratios
PEG Ratio1.47
Price to Book (P/B)2.21
Price to Sales (P/S)1.42
P/FCF Ratio35.65
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)132.61
Revenue Forecast (FY)¥119.05B
AS ONE Business Overview & Revenue Model
Company Description
AS ONE Corporation, a Japanese company with a global presence, specializes in the distribution of a wide array of scientific instruments, research equipment, and essential products for nursing and healthcare. Its diverse catalog of scientific inst...
How the Company Makes Money
AS ONE primarily makes money by selling and distributing a wide catalog of laboratory, scientific, and medical-related products to institutional and corporate customers. Revenue is generated mainly from (1) product sales as a distributor/wholesale...
AS ONE Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
62
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 110.70B | 103.75B | 95.54B | 91.42B | 86.95B |
| Gross Profit | 33.47B | 31.32B | 29.25B | 28.45B | 25.54B |
| EBITDA | 15.05B | 13.64B | 12.65B | 13.32B | 12.18B |
| Net Income | 9.18B | 8.23B | 7.50B | 8.11B | 7.20B |
Balance Sheet | |||||
| Total Assets | 102.42B | 101.72B | 95.83B | 97.48B | 96.11B |
| Cash, Cash Equivalents and Short-Term Investments | 22.14B | 22.57B | 13.89B | 18.61B | 19.22B |
| Total Debt | 4.75B | 7.21B | 3.65B | 6.27B | 3.19B |
| Total Liabilities | 31.24B | 35.01B | 31.17B | 33.51B | 29.95B |
| Stockholders Equity | 71.18B | 66.71B | 64.66B | 63.97B | 66.15B |
Cash Flow | |||||
| Free Cash Flow | 4.42B | 8.11B | 5.55B | 6.40B | 8.21B |
| Operating Cash Flow | 6.47B | 9.31B | 6.50B | 6.97B | 8.84B |
| Investing Cash Flow | -2.47B | 850.00M | -1.93B | -367.98M | 591.15M |
| Financing Cash Flow | -8.05B | -659.00M | -9.04B | -7.28B | -5.16B |
AS ONE Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥172.98B | 17.82 | 13.79% | 2.63% | 9.35% | 14.47% | |
67 Neutral | ¥208.22B | 16.38 | 9.11% | 2.52% | 6.54% | -2.44% | |
63 Neutral | ¥437.19B | 10.58 | 7.93% | 2.98% | 4.61% | 43.22% | |
63 Neutral | ¥246.32B | 17.59 | ― | 2.15% | 1.43% | 1.86% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | ¥237.55B | 16.73 | 5.35% | 1.99% | 2.68% | 144.20% | |
47 Neutral | ¥175.45B | 17.35 | 5.76% | 3.26% | 3.04% | -19.26% |
* Healthcare Sector Average
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AS ONE Corporate Events
AS ONE Launches Discounted Tender Offer to Repurchase Shares From Major Holder
Aug 7, 2026
AS ONE Corporation has approved a tender offer to repurchase up to 2.75 million of its own shares, representing 3.86% of issued and outstanding shares excluding treasury stock, at ¥2,151 per share, a 10% discount to the previous day’s c...
AS ONE Launches New Share Buyback via Tender Offer to Boost Shareholder Returns
Aug 7, 2026
AS ONE Corporation’s board has approved a fresh share buyback program, resolving to acquire its own shares through a tender offer as part of its capital allocation strategy. The move aligns with its FY2025–FY2027 medium-term plan, whic...
AS ONE Posts 9.8% July Sales Gain as All Segments Grow
Aug 7, 2026
AS ONE reported preliminary standalone net sales for July 2026 of ¥9,788 million, up 9.8% year on year, with sales per business day rising at the same pace and all three core segments contributing to growth. The Scientific Sector grew 9.6% on...
AS ONE Delivers Strong Quarterly Growth But Expects Flat Full-Year Earnings
Jul 31, 2026
AS ONE reported strong results for the three months ended June 30, 2026, with net sales rising 17.0% year on year to ¥30.0 billion and profit attributable to owners of parent increasing 25.2% to ¥2.85 billion. Earnings per share climbed ...
AS ONE Completes Restricted Share-Based Compensation Disposal for Directors
Jul 24, 2026
AS ONE CORPORATION has completed payment procedures for the disposal of 10,200 shares of its treasury stock as share-based compensation with transfer restrictions for certain directors, following a board resolution earlier in July 2026. The shares...
AS ONE Posts Double-Digit June Sales Growth Across Key Segments
Jul 8, 2026
AS ONE reported preliminary operating results for June 2026 showing net sales of ¥9,708 million, a 13.9% year-on-year increase, with sales per day up 8.7%, extending strong growth seen in April and May. The company highlighted continued activ...
AS ONE Grants Restricted Treasury Shares to Directors Under Stock-Based Compensation Plan
Jul 8, 2026
AS ONE Corporation’s board has approved the disposal of 10,200 treasury shares as restricted share-based compensation to four eligible directors, valued at about ¥24.26 million. The move falls under an existing stock-based compensation ...
AS ONE Posts Robust May Sales as Demand Surges for Petroleum-Derived and Consumable Products
Jun 10, 2026
AS ONE Corporation reported a strong start to fiscal year ending March 2027, with May net sales rising 10.2% year on year despite two fewer business days, and daily sales surging 22.4%. Preliminary figures indicate robust performance across its sc...
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.