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Olympus
(7733)
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Rating:59Neutral
Price Target:
¥1,838.00
▼(-13.83% Downside)
Action:Reiterated
Date:10/15/26
The score reflects solid underlying fundamentals (steady growth, strong gross margins, improved free cash flow) offset by a weak technical setup (below key moving averages with bearish momentum and oversold RSI). Valuation is supportive via a ~3.4% dividend yield, but the ~24.7 P/E keeps the overall picture neutral rather than compelling.
Positive Factors
Revenue Growth and Gross Margin
Revenue growth and a ~64.7% gross margin indicate Olympus is expanding while retaining substantial value from its medical-device offerings. This combination can support reinvestment in product development, clinical support and installed-base services, helping preserve competitiveness over the next several quarters.
Negative Factors
Declining Profitability
Net margin fell from ~11.8% in FY2025 to ~6.7% in FY2026 and ~7.5% TTM, despite revenue growth. The decline signals weaker earnings conversion and makes future profitability more dependent on restoring efficiency rather than simply expanding sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth and Gross Margin
Revenue growth and a ~64.7% gross margin indicate Olympus is expanding while retaining substantial value from its medical-device offerings. This combination can support reinvestment in product development, clinical support and installed-base services, helping preserve competitiveness over the next several quarters.
Read all positive factors
Olympus (7733) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.89T
Dividend Yield3.49%
Average Volume (3M)4.25M
Price to Earnings (P/E)24.2
Beta (1Y)0.72
Revenue Growth7.80%
EPS Growth-27.73%
CountryJP
Employees28,138
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)71.16
Shares Outstanding1,114,485,700
10 Day Avg. Volume6,237,970
30 Day Avg. Volume4,250,213
Financial Highlights & Ratios
PEG Ratio-0.60
Price to Book (P/B)2.04
Price to Sales (P/S)1.64
P/FCF Ratio91.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,413.33Price Target Upside13.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)96.88
Revenue Forecast (FY)¥1.08T
Olympus Business Overview & Revenue Model
Company Description
Olympus Corporation, a global enterprise headquartered in Tokyo, Japan, manufactures and distributes high-precision machinery and instrumentation worldwide. The company, originally established in 1919 as Olympus Optical Co., Ltd., adopted its curr...
How the Company Makes Money
Olympus makes money primarily by selling medical technology products and services to healthcare providers and distributors. Its core revenue stream comes from endoscopy-related offerings, where it supplies endoscopes and the supporting ecosystem r...
Olympus Earnings Call Summary
Earnings Call Date:Feb 13, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Negative
The call presented a mix of significant near-term challenges—most notably product ship holds, FDA observations, one-off costs that reduced gross margin and a 2% revenue guidance downgrade—balanced against clear remediation plans, leadership actions, a majority of held products already released (70%), an asserted China recovery (≈5–6%), maintained midterm targets and a commitment to >100 bps margin expansion beginning FY2027. Near-term financial impact is material, but management articulated specific corrective actions and kept long-term targets unchanged.Positive Updates
Midterm Targets and Margin Commitment Maintained
Management reaffirmed the midterm 3/4/5 plan targets: mid-single-digit revenue growth and a 20%+ operating margin long-term goal, and committed to delivering more than 100 basis points of margin expansion beginning in FY2027.
Negative Updates
Revenue Guidance Revised Down 2% (Constant Currency)
Management revised full-year revenue guidance down by approximately 2% on a constant-currency basis, citing ship holds and execution issues impacting SIS and portions of GI (U.S.).
Read all updates
Q3-2026 Updates
Positive
Negative
Midterm Targets and Margin Commitment Maintained
Management reaffirmed the midterm 3/4/5 plan targets: mid-single-digit revenue growth and a 20%+ operating margin long-term goal, and committed to delivering more than 100 basis points of margin expansion beginning in FY2027.
Read all positive updates
Company Guidance
Management revised FY26 revenue guidance down ~2% on a constant‑currency basis and attributed the cut largely to one‑off FDA‑related ship‑holds and remediation: they cited about JPY 9 billion tied to ship‑hold actions, expect roughly JPY 18 billion of lost revenue in Q4 from held products, have released ~70% of affected products with ~30% still remediating, and expect the remaining holds to be resolved in Q4. They disclosed a JPY 31 billion restructuring/headcount charge (up from an initial JPY 12 billion) related to a net reduction of ~2,000 positions (≈90% charged this year, 10% next year) while keeping expected cost savings of about JPY 24 billion intact. Management said the gross‑margin hit was one‑off (COGS increases from field corrective actions, disposals and recalls), will largely absorb remediation costs in SG&A, does not expect additional ship‑holds, will present guidance as ranges going forward, reaffirmed commitment to >100 basis‑points of annual margin expansion from FY‑27 and to mid‑single‑digit revenue growth and a 20%+ operating margin long term, and noted China is beginning to recover (+5–6% after prior double‑digit declines) while inspections affected GI‑ET, urology, respiratory and surgical portfolios.Olympus Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
68
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.04T | 1.01T | 997.33B | 925.75B | 881.92B | 750.12B |
| Gross Profit | 675.79B | 654.09B | 649.29B | 583.63B | 562.70B | 475.99B |
| EBITDA | 185.35B | 170.51B | 230.35B | 115.36B | 255.07B | 211.46B |
| Net Income | 78.28B | 68.17B | 117.86B | 242.57B | 143.43B | 115.74B |
Balance Sheet | ||||||
| Total Assets | 1.53T | 1.54T | 1.43T | 1.53T | 1.51T | 1.36T |
| Cash, Cash Equivalents and Short-Term Investments | 152.19B | 188.04B | 252.53B | 340.93B | 169.33B | 302.57B |
| Total Debt | 318.89B | 239.58B | 291.57B | 360.56B | 397.22B | 451.14B |
| Total Liabilities | 778.57B | 725.12B | 679.89B | 775.56B | 865.71B | 844.60B |
| Stockholders Equity | 747.90B | 812.04B | 751.73B | 757.19B | 640.09B | 510.17B |
Cash Flow | ||||||
| Free Cash Flow | 71.39B | 18.16B | 144.46B | -4.06B | 50.92B | 128.04B |
| Operating Cash Flow | 130.12B | 100.58B | 190.46B | 42.37B | 98.49B | 169.73B |
| Investing Cash Flow | -134.15B | -87.41B | -65.47B | 357.07B | -58.41B | -71.02B |
| Financing Cash Flow | -131.07B | -87.63B | -211.54B | -273.09B | -143.18B | -40.67B |
Olympus Technical Analysis
Negative
2133.00
Price Trends
1974.95
Negative
1853.14
Negative
1743.95
Negative
Market Momentum
-77.51
Positive
34.50
Neutral
8.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7733, the sentiment is Negative. The current price of 2133 is above the 20-day moving average (MA) of 1883.22, above the 50-day MA of 1974.95, and above the 200-day MA of 1743.95, indicating a bearish trend. The MACD of -77.51 indicates Positive momentum. The RSI at 34.50 is Neutral, neither overbought nor oversold. The STOCH value of 8.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:7733.
Olympus Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥3.54T | 21.52 | 10.60% | 1.38% | 14.05% | 31.94% | |
78 Outperform | ¥981.17B | 30.67 | 19.88% | 1.30% | 21.16% | 156.97% | |
73 Outperform | ¥151.13B | 20.88 | ― | 2.67% | 10.18% | 55.86% | |
71 Outperform | ¥1.17T | 30.41 | 8.02% | 2.01% | 4.48% | -15.75% | |
59 Neutral | ¥1.89T | 24.16 | 10.21% | 3.49% | 7.80% | -27.73% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | ¥236.95B | 15.58 | 5.35% | 2.31% | 2.68% | 144.20% |
* Healthcare Sector Average
JP:7733
Olympus
1,719.00
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1.24%
Olympus Corporate Events
Olympus Receives FDA Warning Letter but Sees No Financial Impact
Oct 13, 2026
Olympus has disclosed that it received a Warning Letter from the U.S. Food and Drug Administration following inspections at six of its medical device facilities in late 2025. The letter questions the adequacy of Olympus’ responses to earlier...
Olympus Reshapes Board Committees After Outside Director Resigns
Sep 29, 2026
Olympus Corporation announced that outside director and independent officer Hiroshi Ishino has resigned from the board for health reasons, effective September 29, 2026. His departure reduces the board to 10 members, nine of whom are outside direct...
Olympus Posts Strong Q1 FY2027 Results and Lifts Profitability Outlook
Aug 7, 2026
Olympus reported consolidated results for the first quarter of the fiscal year ending March 31, 2027, showing revenue of ¥240.4 billion and operating profit of ¥28.95 billion, with margins generally improving versus the prior year. Adjus...
Olympus Outlines Q1 FY2027 Results With Cautious Guidance and Risk Disclaimers
Aug 7, 2026
Olympus Corporation has released its consolidated financial results for the first quarter of fiscal year 2027, outlining management’s current views and expectations for the business. The company emphasizes that these results and related comm...
Olympus Delivers Strong Q1 Earnings and Confirms Full-Year Outlook
Aug 7, 2026
Olympus reported strong results for the quarter ended June 30, 2026, with revenue rising 16.4% year-on-year to ¥240.4 billion and operating profit surging 74.4%. Adjusted operating profit more than doubled, while profit attributable to owners...
Olympus Names Industry Veteran Brian Barry as New Chief Quality Officer
Jul 17, 2026
Olympus has announced a leadership change in its global quality organization, appointing industry veteran Brian Barry as Executive Officer and Chief Quality Officer effective August 1, 2026. Barry, who brings more than 40 years of experience in qu...
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.