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Pilot Corporation
(7846)
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Rating:76Outperform
Price Target:
¥2,301.00
▼(-52.78% Downside)
Action:Reiterated
Date:06/29/26
The score is led by strong financial positioning (notably low leverage and solid gross profitability) and a favorable price trend above key moving averages. The main constraints are margin/earnings softening versus earlier years and inconsistent free-cash-flow conversion, while valuation is reasonable with a moderate dividend yield.
Positive Factors
Conservative balance sheet
Very low leverage and a growing equity base give Pilot financial flexibility to withstand demand changes, fund product development, and support distribution without relying heavily on external financing.
Negative Factors
Margin and earnings pressure
Falling margins and lower net income despite revenue growth suggest cost, product-mix, or expense pressure. If persistent, this could limit operating leverage and weaken the conversion of market growth into shareholder earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a growing equity base give Pilot financial flexibility to withstand demand changes, fund product development, and support distribution without relying heavily on external financing.
Read all positive factors
Pilot Corporation (7846) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥245.02B
Dividend Yield2.01%
Average Volume (3M)85.03K
Price to Earnings (P/E)14.9
Beta (1Y)0.44
Revenue Growth6.53%
EPS Growth13.54%
CountryJP
Employees3,175
SectorGeneral
Sector StrengthN/A
IndustryBusiness Equipment & Supplies
Share Statistics
EPS (TTM)136.71
Shares Outstanding122,715,600
10 Day Avg. Volume70,400
30 Day Avg. Volume85,033
Financial Highlights & Ratios
PEG Ratio-0.84
Price to Book (P/B)1.27
Price to Sales (P/S)1.47
P/FCF Ratio32.31
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)130.17
Revenue Forecast (FY)¥135.86B
Pilot Corporation Business Overview & Revenue Model
Company Description
Pilot Corporation functions as a global producer and distributor of writing instruments, various stationery supplies, and toys. The company's operations extend across Japan, the Americas, Europe, and Asia. Its core offerings include a diverse rang...
How the Company Makes Money
Pilot Corporation primarily generates revenue by selling branded writing instruments and related stationery products. Key revenue streams include (1) sales of core writing instruments such as pens and markers sold to distributors, wholesalers, and...
Pilot Corporation Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 133.69B | 126.39B | 126.17B | 118.59B | 112.85B | 103.06B |
| Gross Profit | 67.89B | 64.45B | 63.23B | 60.55B | 58.86B | 53.03B |
| EBITDA | 27.67B | 25.17B | 22.93B | 25.10B | 26.57B | 24.29B |
| Net Income | 14.71B | 12.06B | 15.18B | 13.66B | 15.77B | 14.27B |
Balance Sheet | ||||||
| Total Assets | 185.52B | 179.91B | 176.70B | 166.47B | 156.54B | 143.16B |
| Cash, Cash Equivalents and Short-Term Investments | 34.42B | 39.99B | 39.98B | 39.17B | 46.13B | 46.52B |
| Total Debt | 6.33B | 4.75B | 1.76B | 3.57B | 5.30B | 10.24B |
| Total Liabilities | 39.73B | 33.82B | 35.12B | 34.12B | 38.55B | 40.80B |
| Stockholders Equity | 145.18B | 145.44B | 139.85B | 130.41B | 116.55B | 101.05B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 5.74B | 11.54B | 1.19B | 9.44B | 16.50B |
| Operating Cash Flow | 0.00 | 17.00B | 22.73B | 10.18B | 13.75B | 19.82B |
| Investing Cash Flow | 0.00 | -11.13B | -11.05B | -10.71B | -5.35B | -3.60B |
| Financing Cash Flow | 0.00 | -8.02B | -11.04B | -7.38B | -8.37B | -7.96B |
Pilot Corporation Technical Analysis
Positive
4873.00
Price Trends
1811.31
Positive
1702.84
Positive
1634.86
Positive
Market Momentum
62.70
Negative
71.95
Negative
88.74
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7846, the sentiment is Positive. The current price of 4873 is above the 20-day moving average (MA) of 1927.50, above the 50-day MA of 1811.31, and above the 200-day MA of 1634.86, indicating a bullish trend. The MACD of 62.70 indicates Negative momentum. The RSI at 71.95 is Negative, neither overbought nor oversold. The STOCH value of 88.74 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:7846.
Pilot Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥390.22B | 17.31 | 8.43% | 2.95% | 9.28% | 17.72% | |
77 Outperform | ¥157.99B | 22.12 | ― | 2.09% | 5.24% | -2.53% | |
76 Outperform | ¥245.02B | 14.89 | ― | 2.56% | 6.53% | 13.54% | |
66 Neutral | ¥23.18B | 22.82 | ― | 1.88% | -1.27% | 135.35% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ¥3.11B | -21.71 | ― | ― | -4.74% | 86.23% | |
51 Neutral | ¥3.90B | 29.45 | ― | 2.03% | -1.38% | -64.66% |
* General Sector Average
JP:7846
Pilot Corporation
2,036.50
567.43
38.62%
JP:7984
Kokuyo Co
895.90
7.79
0.88%
JP:7962
King Jim Co., Ltd.
811.00
-11.91
-1.45%
JP:7975
LIHIT LAB., INC.
1,158.00
26.40
2.33%
JP:7976
Mitsubishi Pencil Company, Limited
3,045.00
1,107.18
57.14%
JP:7992
Sailor Pen Co., Ltd.
104.00
-28.00
-21.21%
Pilot Corporation Corporate Events
Pilot lifts 2026 profit outlook and boosts dividend after U.S. tariff refunds
Aug 6, 2026
Pilot Corporation has revised its full-year 2026 consolidated earnings forecast, keeping net sales unchanged at ¥133 billion but raising operating profit to ¥19.5 billion, ordinary profit to ¥20 billion, and profit attributable to o...
Pilot Corporation Lifts First-Half Earnings and Raises 2026 Outlook After Stock Split
Aug 6, 2026
Pilot Corporation reported strong first-half results for 2026, with net sales rising 11.2% year on year to ¥72.26 billion and profit attributable to owners of the parent jumping 34.5% to ¥10.31 billion. Operating and ordinary profits als...
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.