Meiko Electronics（MEC）株式概要明光エレクトロニクス株式会社は、日本、中国、ベトナム、その他のアジア、北米、欧州、および国際的なプリント基板（PCB）および補助電子機器の設計、製造、販売を行っています。 詳細MEC ファンダメンタル分析スノーフレーク・スコア評価0/6将来の成長6/6過去の実績4/6財務の健全性5/6配当金0/6報酬収益は年間27.32%増加すると予測されています 過去1年間で収益は33.3%増加しました リスク分析高いレベルの非現金収入 German市場と比較して、過去 3 か月間の株価の変動が非常に大きい多額の負債を抱えている すべてのリスクチェックを見るMEC Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value€Current Price€189.0045.0% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-11b638b2016201920222025202620282031Revenue JP¥638.2bEarnings JP¥51.6bAdvancedSet Fair ValueView all narrativesMeiko Electronics Co., Ltd. 競合他社JenoptikSymbol: XTRA:JENMarket cap: €2.7bSchweizer ElectronicSymbol: XTRA:SCEMarket cap: €27.8mBaslerSymbol: XTRA:BSLMarket cap: €967.1mXiamen FaratronicSymbol: SHSE:600563Market cap: CN¥38.9b価格と性能株価の高値、安値、推移の概要Meiko Electronics過去の株価現在の株価JP¥189.0052週高値JP¥240.0052週安値JP¥37.60ベータ1.611ヶ月の変化-14.09%3ヶ月変化37.96%1年変化370.15%3年間の変化998.84%5年間の変化680.99%IPOからの変化451.99%最新ニュースValuation Update With 7 Day Price Move • Jun 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €180, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Electronic industry in Germany. Total returns to shareholders of 1,011% over the past three years.Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €195, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 1,111% over the past three years.お知らせ • May 14Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026.お知らせ • May 10+ 1 more updateMeiko Electronics Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026Meiko Electronics Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026お知らせ • Apr 21Meiko Electronics Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026Meiko Electronics Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026お知らせ • May 13Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025.最新情報をもっと見るRecent updatesValuation Update With 7 Day Price Move • Jun 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €180, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Electronic industry in Germany. Total returns to shareholders of 1,011% over the past three years.Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €195, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 1,111% over the past three years.お知らせ • May 14Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026.お知らせ • May 10+ 1 more updateMeiko Electronics Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026Meiko Electronics Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026お知らせ • Apr 21Meiko Electronics Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026Meiko Electronics Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026お知らせ • May 13Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025.お知らせ • Feb 28+ 3 more updatesMeiko Electronics Co., Ltd. to Report Q1, 2026 Results on Aug 06, 2025Meiko Electronics Co., Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025お知らせ • Feb 06Meiko Electronics Co., Ltd. to Report Q3, 2025 Results on Feb 06, 2025Meiko Electronics Co., Ltd. announced that they will report Q3, 2025 results on Feb 06, 2025Valuation Update With 7 Day Price Move • Nov 13Investor sentiment improves as stock rises 36%After last week's 36% share price gain to €49.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.66 per share.Reported Earnings • Nov 08Second quarter 2025 earnings released: EPS: JP¥128 (vs JP¥112 in 2Q 2024)Second quarter 2025 results: EPS: JP¥128 (up from JP¥112 in 2Q 2024). Revenue: JP¥51.1b (up 15% from 2Q 2024). Net income: JP¥3.28b (up 14% from 2Q 2024). Profit margin: 6.4% (down from 6.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.Upcoming Dividend • Sep 21Upcoming dividend of JP¥36.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 15% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.7%).Valuation Update With 7 Day Price Move • Sep 03Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €38.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Electronic industry in Germany. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.04 per share.Reported Earnings • Aug 08First quarter 2025 earnings released: EPS: JP¥119 (vs JP¥85.17 in 1Q 2024)First quarter 2025 results: EPS: JP¥119 (up from JP¥85.17 in 1Q 2024). Revenue: JP¥47.0b (up 13% from 1Q 2024). Net income: JP¥3.05b (up 40% from 1Q 2024). Profit margin: 6.5% (up from 5.3% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 11%After last week's 11% share price decline to €32.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Electronic industry in Germany. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €59.91 per share.New Risk • Aug 05New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 110% Dividend yield: 1.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Dividend is not well covered by cash flows (110% cash payout ratio). Share price has been volatile over the past 3 months (8.9% average weekly change).Declared Dividend • Jul 11Final dividend of JP¥36.00 announcedShareholders will receive a dividend of JP¥36.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 86%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (16% earnings payout ratio) but not covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Valuation Update With 7 Day Price Move • May 17Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €37.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €37.82 per share.New Risk • May 16New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Share price has been volatile over the past 3 months (7.2% average weekly change).Reported Earnings • May 13Full year 2024 earnings released: EPS: JP¥441 (vs JP¥339 in FY 2023)Full year 2024 results: EPS: JP¥441 (up from JP¥339 in FY 2023). Revenue: JP¥179.5b (up 7.3% from FY 2023). Net income: JP¥11.3b (up 30% from FY 2023). Profit margin: 6.3% (up from 5.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • May 11Meiko Electronics Co., Ltd. Announces Dividend for the Fiscal Year Ended March 31, 2024, Effective June 12, 2024Meiko Electronics Co., Ltd. has resolved at the Board of Directors held on May 10, 2024 to pay JPY 41.00 per share at the year-end dividend for the fiscal year ended March 31, 2024 as compared to paid dividend of JPY 28.00 per share a year ago. Record date is March 31, 2024; Effective date is June 12, 2024.お知らせ • Mar 21Meiko Electronics Co., Ltd. Announces Executive Changes, Effective April 1, 2024Meiko Electronics Co., Ltd. announced that effective April 1, 2024, it will implement the following changes to its executive officers. Masayuki Honda's designation has been changed from Executive Officer, Finance Headquarters and General Manager to Executive Officer, Office of the President & CEO and General Manager.Upcoming Dividend • Mar 21Upcoming dividend of JP¥30.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 13 June 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (1.4%).お知らせ • Mar 08Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2024Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2024.お知らせ • Mar 02+ 2 more updatesMeiko Electronics Co., Ltd. to Report Q2, 2025 Results on Nov 06, 2024Meiko Electronics Co., Ltd. announced that they will report Q2, 2025 results on Nov 06, 2024お知らせ • Feb 09Meiko Electronics Co., Ltd. Revises Year-End Dividend GuidanceMeiko Electronics Co., Ltd. announced the following revisions to the dividend forecast released on November 6, 2023. It has decided to revise its year-end dividend forecast from JPY 28 per share to JPY 30 per share, making the annual dividend JPY 57 per share in accordance with its policy.Reported Earnings • Feb 08Third quarter 2024 earnings released: EPS: JP¥102 (vs JP¥24.76 in 3Q 2023)Third quarter 2024 results: EPS: JP¥102 (up from JP¥24.76 in 3Q 2023). Revenue: JP¥47.3b (up 8.7% from 3Q 2023). Net income: JP¥2.61b (up 312% from 3Q 2023). Profit margin: 5.5% (up from 1.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Jan 30+ 1 more updateMeiko Electronics Co., Ltd. Announces Re-Designation of Atsushi Sakate to Representative Director, Executive Vice PresidentMeiko Electronics Co., Ltd. announced that its Board of Directors has resolved at a meeting on January 29, 2024 to make the following changes to its representative directors (additional appointments). Atsushi Sakate has been re-designated from Director, Senior Managing Executive Officer to Representative Director, Executive Vice President. Personal History of New Representative Director: Personal History: April 1996- Joined the Company; March 2011- General Manager of Business Reform Office; April 2018- Executive Officer, General Manager of Production Headquarters; April 2019- Representative Director of Yamagata Meiko Electronics Co., Ltd; April 2021- Managing Executive Officer; June 2021- Director, Managing Executive Officer; October 2022- General Manager of PCB Business Headquarters (present post); April 2023- Director and Senior Managing Executive Officer (present post). Scheduled date of assumption of office: April 1, 2024.お知らせ • Nov 18Meiko Electronics Co., Ltd. Revises Earnings Guidance for the Year Ending March 31, 2024Meiko Electronics Co., Ltd. revised earnings guidance for the year ending March 31, 2024. For the year, the company revises net sales of JPY 173,000 million compared to previous forecast of JPY 165,000 million. Operating income of JPY 10,000 million compared to previous forecast of JPY 9,000 million. Net income attributable to owners of parent of JPY 9,300 million compared to previous forecast of JPY 6,200 million. Net income per share of JPY 350.33 compared to previous forecast of JPY 229.48.お知らせ • Nov 17Meiko Electronics Co., Ltd. Revises Interim Dividend, Effective November 30, 2023; Revises Year End Dividend GuidanceMeiko Electronics Co., Ltd. announced that it should return profits to its shareholders in an appropriate manner in accordance with its business performance. It has decided to revise its interim dividend from JPY 25 per share to JPY 27 per share. Record date is September 30, 2023. Effective date is November 30, 2023.The company also decided to revise the year-end dividend forecast from JPY 25 per share to JPY 28 per share.Valuation Update With 7 Day Price Move • Nov 13Investor sentiment improves as stock rises 24%After last week's 24% share price gain to €26.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Electronic industry in Germany. Total returns to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €29.68 per share.New Risk • Nov 07New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (4.4% net profit margin).Reported Earnings • Nov 07Second quarter 2024 earnings released: EPS: JP¥119 (vs JP¥96.21 in 2Q 2023)Second quarter 2024 results: EPS: JP¥119 (up from JP¥96.21 in 2Q 2023). Revenue: JP¥44.6b (up 7.0% from 2Q 2023). Net income: JP¥3.04b (up 23% from 2Q 2023). Profit margin: 6.8% (up from 5.9% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Sep 21Upcoming dividend of JP¥25.00 per share at 1.5% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (1.5%).Buying Opportunity • Sep 05Now 20% undervaluedOver the last 90 days, the stock is up 35%. The fair value is estimated to be €27.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 48%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 44% in the next 2 years.New Risk • Aug 09New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.2% net profit margin).Reported Earnings • Aug 09First quarter 2024 earnings released: EPS: JP¥88.21 (vs JP¥154 in 1Q 2023)First quarter 2024 results: EPS: JP¥88.21 (down from JP¥154 in 1Q 2023). Revenue: JP¥41.6b (up 3.9% from 1Q 2023). Net income: JP¥2.26b (down 43% from 1Q 2023). Profit margin: 5.4% (down from 9.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.お知らせ • May 12Meiko Electronics Co., Ltd., Annual General Meeting, Jun 27, 2023Meiko Electronics Co., Ltd., Annual General Meeting, Jun 27, 2023.Reported Earnings • May 12Full year 2023 earnings released: EPS: JP¥345 (vs JP¥444 in FY 2022)Full year 2023 results: EPS: JP¥345 (down from JP¥444 in FY 2022). Revenue: JP¥167.3b (up 11% from FY 2022). Net income: JP¥8.85b (down 23% from FY 2022). Profit margin: 5.3% (down from 7.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Mar 23Upcoming dividend of JP¥28.00 per share at 1.8% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.0%).Reported Earnings • Feb 08Third quarter 2023 earnings released: EPS: JP¥27.38 (vs JP¥144 in 3Q 2022)Third quarter 2023 results: EPS: JP¥27.38 (down from JP¥144 in 3Q 2022). Revenue: JP¥43.5b (up 7.5% from 3Q 2022). Net income: JP¥702.0m (down 81% from 3Q 2022). Profit margin: 1.6% (down from 9.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Outside Director Yousuke Nishiyama was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 06Second quarter 2023 earnings released: EPS: JP¥96.21 (vs JP¥92.13 in 2Q 2022)Second quarter 2023 results: EPS: JP¥96.21 (up from JP¥92.13 in 2Q 2022). Revenue: JP¥41.7b (up 15% from 2Q 2022). Net income: JP¥2.47b (up 3.7% from 2Q 2022). Profit margin: 5.9% (down from 6.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Sep 22Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.2%).Reported Earnings • Aug 07First quarter 2023 earnings released: EPS: JP¥154 (vs JP¥69.65 in 1Q 2022)First quarter 2023 results: EPS: JP¥154 (up from JP¥69.65 in 1Q 2022). Revenue: JP¥40.0b (up 20% from 1Q 2022). Net income: JP¥3.95b (up 118% from 1Q 2022). Profit margin: 9.9% (up from 5.4% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 21% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jun 21Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €23.60, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 19x in the Electronic industry in Germany. Total returns to shareholders of 80% over the past three years.Reported Earnings • May 11Full year 2022 earnings released: EPS: JP¥444 (vs JP¥177 in FY 2021)Full year 2022 results: EPS: JP¥444 (up from JP¥177 in FY 2021). Revenue: JP¥151.3b (up 27% from FY 2021). Net income: JP¥11.5b (up 147% from FY 2021). Profit margin: 7.6% (up from 3.9% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.8%, compared to a 27% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Outside Director Yousuke Nishiyama was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Apr 13Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €26.20, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €38.16 per share.お知らせ • Apr 08Meiko Electronics Co., Ltd. to Report Fiscal Year 2022 Results on May 10, 2022Meiko Electronics Co., Ltd. announced that they will report fiscal year 2022 results on May 10, 2022Upcoming Dividend • Mar 23Upcoming dividend of JP¥20.00 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 10 June 2022. Payout ratio is a comfortable 9.2% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.6%). Higher than average of industry peers (0.7%).Valuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to €25.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 100% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €38.97 per share.Reported Earnings • Feb 06Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2022 results: EPS: JP¥144 (up from JP¥41.00 in 3Q 2021). Revenue: JP¥40.5b (up 25% from 3Q 2021). Net income: JP¥3.68b (up 243% from 3Q 2021). Profit margin: 9.1% (up from 3.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 7.5%, compared to a 23% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth.Buying Opportunity • Jan 20Now 22% undervaluedOver the last 90 days, the stock is up 43%. The fair value is estimated to be JP¥40.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 16% per annum over the last 3 years.Valuation Update With 7 Day Price Move • Nov 12Investor sentiment improved over the past weekAfter last week's 25% share price gain to €30.40, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 113% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €32.61 per share.Reported Earnings • Nov 06Second quarter 2022 earnings released: EPS JP¥92.13 (vs JP¥10.35 in 2Q 2021)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥36.2b (up 25% from 2Q 2021). Net income: JP¥2.38b (up JP¥2.11b from 2Q 2021). Profit margin: 6.6% (up from 0.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Oct 20Investor sentiment improved over the past weekAfter last week's 16% share price gain to €24.20, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 9.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €30.14 per share.Valuation Update With 7 Day Price Move • Sep 12Investor sentiment improved over the past weekAfter last week's 18% share price gain to €24.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 5.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €29.59 per share.Reported Earnings • Jun 30Full year 2021 earnings released: EPS JP¥177 (vs JP¥98.80 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥119.3b (up 3.3% from FY 2020). Net income: JP¥4.64b (up 79% from FY 2020). Profit margin: 3.9% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.Reported Earnings • May 12Full year 2021 earnings released: EPS JP¥177 (vs JP¥98.80 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥119.3b (up 3.3% from FY 2020). Net income: JP¥4.64b (up 79% from FY 2020). Profit margin: 3.9% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Upcoming Dividend • Mar 23Upcoming dividend of JP¥20.00 per shareEligible shareholders must have bought the stock before 30 March 2021. Payment date: 10 June 2021. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (0.5%).お知らせ • Mar 19Meiko Electronics Co., Ltd. Revises Earnings Guidance for the Year Ending March 31, 2021Meiko Electronics Co., Ltd. revised earnings guidance for the year ending March 31, 2021. For the year, the company revises net sales of JPY 118,500 million compared to previous forecast of JPY 116,000 million. Operating income of JPY 6,500 million compared to previous forecast of JPY 5,300 million. Net income attributable to owners of parent of JPY 3,700 million compared to previous forecast of JPY 2,700 million. Net income per share of JPY 133.72 compared to previous forecast of JPY 103.16.お知らせ • Mar 17+ 1 more updateMeiko Electronics Co., Ltd. to Report Q1, 2022 Results on Aug 06, 2021Meiko Electronics Co., Ltd. announced that they will report Q1, 2022 results on Aug 06, 2021Is New 90 Day High Low • Feb 20New 90-day high: €16.90The company is up 6.0% from its price of €15.90 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 12% over the same period.Reported Earnings • Feb 10Third quarter 2021 earnings released: EPS JP¥41.00 (vs JP¥63.84 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥32.5b (up 5.7% from 3Q 2020). Net income: JP¥1.07b (down 36% from 3Q 2020). Profit margin: 3.3% (down from 5.4% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.Analyst Estimate Surprise Post Earnings • Feb 10Revenue misses expectationsRevenue missed analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 12%, compared to a 23% growth forecast for the Electronic industry in Germany.Is New 90 Day High Low • Jan 20New 90-day low: €14.30The company is down 8.0% from its price of €15.60 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.73 per share.Is New 90 Day High Low • Nov 10New 90-day high: €16.90The company is up 51% from its price of €11.20 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.12 per share.Analyst Estimate Surprise Post Earnings • Nov 09Revenue beats expectationsRevenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 6.9%, compared to a 24% growth forecast for the Electronic industry in Germany.Reported Earnings • Nov 09Second quarter 2021 earnings released: EPS JP¥10.35The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥28.9b (down 3.4% from 2Q 2020). Net income: JP¥271.0m (down 79% from 2Q 2020). Profit margin: 0.9% (down from 4.2% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Oct 21New 90-day high: €15.40The company is up 38% from its price of €11.20 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.63 per share.株主還元MECDE ElectronicDE 市場7D15.2%3.4%0.1%1Y370.1%128.6%4.5%株主還元を見る業界別リターン: MEC過去 1 年間で128.6 % の収益を上げたGerman Electronic業界を上回りました。リターン対市場: MEC過去 1 年間で4.5 % の収益を上げたGerman市場を上回りました。価格変動Is MEC's price volatile compared to industry and market?MEC volatilityMEC Average Weekly Movement16.2%Electronic Industry Average Movement7.7%Market Average Movement5.8%10% most volatile stocks in DE Market13.7%10% least volatile stocks in DE Market2.8%安定した株価: MECの株価は、 German市場と比較して過去 3 か月間で変動しています。時間の経過による変動: MECの weekly volatility ( 16% ) は過去 1 年間安定していますが、依然としてGermanの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト197512,706Masayuki Hondawww.meiko-elec.com明光エレクトロニクス株式会社は、日本、中国、ベトナム、その他のアジア、北米、ヨーロッパ、および国際的なプリント基板（PCB）および補助電子機器の設計、製造、販売に従事しています。同社の製品ポートフォリオには、両面/多層PCB、HDI PCB、フレキシブルPCB、リジッドフレックスPCB、高レイヤー数PCB、組み込みデバイスPCB、エニーレイヤーPCB、ヘビー銅PCB、メタルベース放熱PCB、周波数ミリ波PCB、銅インレイPCB、電流PCB、PCBテスターなどがある。また、ソルダーステンシル、イメージングデバイスとシステム、回路設計と電子製造サービスも提供している。同社の製品は、自動車、通信、産業機器、医療機器、アミューズメント、家電製品など様々な業界で使用されている。旧社名は明光電子工業株式会社で、1991年4月に社名を明光エレクトロニクス株式会社に変更した。1975年に法人化され、綾瀬市に本社を置く。もっと見るMeiko Electronics Co., Ltd. 基礎のまとめMeiko Electronics の収益と売上を時価総額と比較するとどうか。MEC 基礎統計学時価総額€4.97b収益（TTM）€105.38m売上高(TTM)€1.30b47.1xPER（株価収益率3.8xP/SレシオMEC は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計MEC 損益計算書（TTM）収益JP¥240.57b売上原価JP¥190.14b売上総利益JP¥50.43bその他の費用JP¥30.96b収益JP¥19.47b直近の収益報告Mar 31, 2026次回決算日Aug 06, 2026一株当たり利益（EPS）758.45グロス・マージン20.96%純利益率8.09%有利子負債／自己資本比率84.4%MEC の長期的なパフォーマンスは？過去の実績と比較を見る配当金0.4%現在の配当利回り15%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/17 11:00終値2026/06/17 00:00収益2026/03/31年間収益2026/03/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Meiko Electronics Co., Ltd. 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。10 アナリスト機関Masashi KubotaBofA Global ResearchShiho NamikawaDaiwa Securities Co. Ltd.Koichi HariyaIchiyoshi Research Institute Inc.7 その他のアナリストを表示
Valuation Update With 7 Day Price Move • Jun 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €180, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Electronic industry in Germany. Total returns to shareholders of 1,011% over the past three years.
Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €195, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 1,111% over the past three years.
お知らせ • May 14Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026.
お知らせ • May 10+ 1 more updateMeiko Electronics Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026Meiko Electronics Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026
お知らせ • Apr 21Meiko Electronics Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026Meiko Electronics Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026
お知らせ • May 13Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025.
Valuation Update With 7 Day Price Move • Jun 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €180, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Electronic industry in Germany. Total returns to shareholders of 1,011% over the past three years.
Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €195, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 1,111% over the past three years.
お知らせ • May 14Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2026.
お知らせ • May 10+ 1 more updateMeiko Electronics Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026Meiko Electronics Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026
お知らせ • Apr 21Meiko Electronics Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026Meiko Electronics Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026
お知らせ • May 13Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2025.
お知らせ • Feb 28+ 3 more updatesMeiko Electronics Co., Ltd. to Report Q1, 2026 Results on Aug 06, 2025Meiko Electronics Co., Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025
お知らせ • Feb 06Meiko Electronics Co., Ltd. to Report Q3, 2025 Results on Feb 06, 2025Meiko Electronics Co., Ltd. announced that they will report Q3, 2025 results on Feb 06, 2025
Valuation Update With 7 Day Price Move • Nov 13Investor sentiment improves as stock rises 36%After last week's 36% share price gain to €49.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.66 per share.
Reported Earnings • Nov 08Second quarter 2025 earnings released: EPS: JP¥128 (vs JP¥112 in 2Q 2024)Second quarter 2025 results: EPS: JP¥128 (up from JP¥112 in 2Q 2024). Revenue: JP¥51.1b (up 15% from 2Q 2024). Net income: JP¥3.28b (up 14% from 2Q 2024). Profit margin: 6.4% (down from 6.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
Upcoming Dividend • Sep 21Upcoming dividend of JP¥36.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 15% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.7%).
Valuation Update With 7 Day Price Move • Sep 03Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €38.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Electronic industry in Germany. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.04 per share.
Reported Earnings • Aug 08First quarter 2025 earnings released: EPS: JP¥119 (vs JP¥85.17 in 1Q 2024)First quarter 2025 results: EPS: JP¥119 (up from JP¥85.17 in 1Q 2024). Revenue: JP¥47.0b (up 13% from 1Q 2024). Net income: JP¥3.05b (up 40% from 1Q 2024). Profit margin: 6.5% (up from 5.3% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 11%After last week's 11% share price decline to €32.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Electronic industry in Germany. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €59.91 per share.
New Risk • Aug 05New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 110% Dividend yield: 1.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Dividend is not well covered by cash flows (110% cash payout ratio). Share price has been volatile over the past 3 months (8.9% average weekly change).
Declared Dividend • Jul 11Final dividend of JP¥36.00 announcedShareholders will receive a dividend of JP¥36.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 86%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (16% earnings payout ratio) but not covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Valuation Update With 7 Day Price Move • May 17Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €37.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €37.82 per share.
New Risk • May 16New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Share price has been volatile over the past 3 months (7.2% average weekly change).
Reported Earnings • May 13Full year 2024 earnings released: EPS: JP¥441 (vs JP¥339 in FY 2023)Full year 2024 results: EPS: JP¥441 (up from JP¥339 in FY 2023). Revenue: JP¥179.5b (up 7.3% from FY 2023). Net income: JP¥11.3b (up 30% from FY 2023). Profit margin: 6.3% (up from 5.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • May 11Meiko Electronics Co., Ltd. Announces Dividend for the Fiscal Year Ended March 31, 2024, Effective June 12, 2024Meiko Electronics Co., Ltd. has resolved at the Board of Directors held on May 10, 2024 to pay JPY 41.00 per share at the year-end dividend for the fiscal year ended March 31, 2024 as compared to paid dividend of JPY 28.00 per share a year ago. Record date is March 31, 2024; Effective date is June 12, 2024.
お知らせ • Mar 21Meiko Electronics Co., Ltd. Announces Executive Changes, Effective April 1, 2024Meiko Electronics Co., Ltd. announced that effective April 1, 2024, it will implement the following changes to its executive officers. Masayuki Honda's designation has been changed from Executive Officer, Finance Headquarters and General Manager to Executive Officer, Office of the President & CEO and General Manager.
Upcoming Dividend • Mar 21Upcoming dividend of JP¥30.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 13 June 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (1.4%).
お知らせ • Mar 08Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2024Meiko Electronics Co., Ltd., Annual General Meeting, Jun 26, 2024.
お知らせ • Mar 02+ 2 more updatesMeiko Electronics Co., Ltd. to Report Q2, 2025 Results on Nov 06, 2024Meiko Electronics Co., Ltd. announced that they will report Q2, 2025 results on Nov 06, 2024
お知らせ • Feb 09Meiko Electronics Co., Ltd. Revises Year-End Dividend GuidanceMeiko Electronics Co., Ltd. announced the following revisions to the dividend forecast released on November 6, 2023. It has decided to revise its year-end dividend forecast from JPY 28 per share to JPY 30 per share, making the annual dividend JPY 57 per share in accordance with its policy.
Reported Earnings • Feb 08Third quarter 2024 earnings released: EPS: JP¥102 (vs JP¥24.76 in 3Q 2023)Third quarter 2024 results: EPS: JP¥102 (up from JP¥24.76 in 3Q 2023). Revenue: JP¥47.3b (up 8.7% from 3Q 2023). Net income: JP¥2.61b (up 312% from 3Q 2023). Profit margin: 5.5% (up from 1.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Jan 30+ 1 more updateMeiko Electronics Co., Ltd. Announces Re-Designation of Atsushi Sakate to Representative Director, Executive Vice PresidentMeiko Electronics Co., Ltd. announced that its Board of Directors has resolved at a meeting on January 29, 2024 to make the following changes to its representative directors (additional appointments). Atsushi Sakate has been re-designated from Director, Senior Managing Executive Officer to Representative Director, Executive Vice President. Personal History of New Representative Director: Personal History: April 1996- Joined the Company; March 2011- General Manager of Business Reform Office; April 2018- Executive Officer, General Manager of Production Headquarters; April 2019- Representative Director of Yamagata Meiko Electronics Co., Ltd; April 2021- Managing Executive Officer; June 2021- Director, Managing Executive Officer; October 2022- General Manager of PCB Business Headquarters (present post); April 2023- Director and Senior Managing Executive Officer (present post). Scheduled date of assumption of office: April 1, 2024.
お知らせ • Nov 18Meiko Electronics Co., Ltd. Revises Earnings Guidance for the Year Ending March 31, 2024Meiko Electronics Co., Ltd. revised earnings guidance for the year ending March 31, 2024. For the year, the company revises net sales of JPY 173,000 million compared to previous forecast of JPY 165,000 million. Operating income of JPY 10,000 million compared to previous forecast of JPY 9,000 million. Net income attributable to owners of parent of JPY 9,300 million compared to previous forecast of JPY 6,200 million. Net income per share of JPY 350.33 compared to previous forecast of JPY 229.48.
お知らせ • Nov 17Meiko Electronics Co., Ltd. Revises Interim Dividend, Effective November 30, 2023; Revises Year End Dividend GuidanceMeiko Electronics Co., Ltd. announced that it should return profits to its shareholders in an appropriate manner in accordance with its business performance. It has decided to revise its interim dividend from JPY 25 per share to JPY 27 per share. Record date is September 30, 2023. Effective date is November 30, 2023.The company also decided to revise the year-end dividend forecast from JPY 25 per share to JPY 28 per share.
Valuation Update With 7 Day Price Move • Nov 13Investor sentiment improves as stock rises 24%After last week's 24% share price gain to €26.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Electronic industry in Germany. Total returns to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €29.68 per share.
New Risk • Nov 07New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (4.4% net profit margin).
Reported Earnings • Nov 07Second quarter 2024 earnings released: EPS: JP¥119 (vs JP¥96.21 in 2Q 2023)Second quarter 2024 results: EPS: JP¥119 (up from JP¥96.21 in 2Q 2023). Revenue: JP¥44.6b (up 7.0% from 2Q 2023). Net income: JP¥3.04b (up 23% from 2Q 2023). Profit margin: 6.8% (up from 5.9% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Sep 21Upcoming dividend of JP¥25.00 per share at 1.5% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (1.5%).
Buying Opportunity • Sep 05Now 20% undervaluedOver the last 90 days, the stock is up 35%. The fair value is estimated to be €27.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 48%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 44% in the next 2 years.
New Risk • Aug 09New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.2% net profit margin).
Reported Earnings • Aug 09First quarter 2024 earnings released: EPS: JP¥88.21 (vs JP¥154 in 1Q 2023)First quarter 2024 results: EPS: JP¥88.21 (down from JP¥154 in 1Q 2023). Revenue: JP¥41.6b (up 3.9% from 1Q 2023). Net income: JP¥2.26b (down 43% from 1Q 2023). Profit margin: 5.4% (down from 9.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
お知らせ • May 12Meiko Electronics Co., Ltd., Annual General Meeting, Jun 27, 2023Meiko Electronics Co., Ltd., Annual General Meeting, Jun 27, 2023.
Reported Earnings • May 12Full year 2023 earnings released: EPS: JP¥345 (vs JP¥444 in FY 2022)Full year 2023 results: EPS: JP¥345 (down from JP¥444 in FY 2022). Revenue: JP¥167.3b (up 11% from FY 2022). Net income: JP¥8.85b (down 23% from FY 2022). Profit margin: 5.3% (down from 7.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥28.00 per share at 1.8% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.0%).
Reported Earnings • Feb 08Third quarter 2023 earnings released: EPS: JP¥27.38 (vs JP¥144 in 3Q 2022)Third quarter 2023 results: EPS: JP¥27.38 (down from JP¥144 in 3Q 2022). Revenue: JP¥43.5b (up 7.5% from 3Q 2022). Net income: JP¥702.0m (down 81% from 3Q 2022). Profit margin: 1.6% (down from 9.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Outside Director Yousuke Nishiyama was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 06Second quarter 2023 earnings released: EPS: JP¥96.21 (vs JP¥92.13 in 2Q 2022)Second quarter 2023 results: EPS: JP¥96.21 (up from JP¥92.13 in 2Q 2022). Revenue: JP¥41.7b (up 15% from 2Q 2022). Net income: JP¥2.47b (up 3.7% from 2Q 2022). Profit margin: 5.9% (down from 6.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Sep 22Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.2%).
Reported Earnings • Aug 07First quarter 2023 earnings released: EPS: JP¥154 (vs JP¥69.65 in 1Q 2022)First quarter 2023 results: EPS: JP¥154 (up from JP¥69.65 in 1Q 2022). Revenue: JP¥40.0b (up 20% from 1Q 2022). Net income: JP¥3.95b (up 118% from 1Q 2022). Profit margin: 9.9% (up from 5.4% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 21% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jun 21Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €23.60, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 19x in the Electronic industry in Germany. Total returns to shareholders of 80% over the past three years.
Reported Earnings • May 11Full year 2022 earnings released: EPS: JP¥444 (vs JP¥177 in FY 2021)Full year 2022 results: EPS: JP¥444 (up from JP¥177 in FY 2021). Revenue: JP¥151.3b (up 27% from FY 2021). Net income: JP¥11.5b (up 147% from FY 2021). Profit margin: 7.6% (up from 3.9% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.8%, compared to a 27% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Outside Director Yousuke Nishiyama was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Apr 13Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €26.20, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €38.16 per share.
お知らせ • Apr 08Meiko Electronics Co., Ltd. to Report Fiscal Year 2022 Results on May 10, 2022Meiko Electronics Co., Ltd. announced that they will report fiscal year 2022 results on May 10, 2022
Upcoming Dividend • Mar 23Upcoming dividend of JP¥20.00 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 10 June 2022. Payout ratio is a comfortable 9.2% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.6%). Higher than average of industry peers (0.7%).
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to €25.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 100% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €38.97 per share.
Reported Earnings • Feb 06Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2022 results: EPS: JP¥144 (up from JP¥41.00 in 3Q 2021). Revenue: JP¥40.5b (up 25% from 3Q 2021). Net income: JP¥3.68b (up 243% from 3Q 2021). Profit margin: 9.1% (up from 3.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 7.5%, compared to a 23% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth.
Buying Opportunity • Jan 20Now 22% undervaluedOver the last 90 days, the stock is up 43%. The fair value is estimated to be JP¥40.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 16% per annum over the last 3 years.
Valuation Update With 7 Day Price Move • Nov 12Investor sentiment improved over the past weekAfter last week's 25% share price gain to €30.40, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 113% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €32.61 per share.
Reported Earnings • Nov 06Second quarter 2022 earnings released: EPS JP¥92.13 (vs JP¥10.35 in 2Q 2021)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥36.2b (up 25% from 2Q 2021). Net income: JP¥2.38b (up JP¥2.11b from 2Q 2021). Profit margin: 6.6% (up from 0.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Oct 20Investor sentiment improved over the past weekAfter last week's 16% share price gain to €24.20, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 9.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €30.14 per share.
Valuation Update With 7 Day Price Move • Sep 12Investor sentiment improved over the past weekAfter last week's 18% share price gain to €24.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 5.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €29.59 per share.
Reported Earnings • Jun 30Full year 2021 earnings released: EPS JP¥177 (vs JP¥98.80 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥119.3b (up 3.3% from FY 2020). Net income: JP¥4.64b (up 79% from FY 2020). Profit margin: 3.9% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.
Reported Earnings • May 12Full year 2021 earnings released: EPS JP¥177 (vs JP¥98.80 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥119.3b (up 3.3% from FY 2020). Net income: JP¥4.64b (up 79% from FY 2020). Profit margin: 3.9% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥20.00 per shareEligible shareholders must have bought the stock before 30 March 2021. Payment date: 10 June 2021. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (0.5%).
お知らせ • Mar 19Meiko Electronics Co., Ltd. Revises Earnings Guidance for the Year Ending March 31, 2021Meiko Electronics Co., Ltd. revised earnings guidance for the year ending March 31, 2021. For the year, the company revises net sales of JPY 118,500 million compared to previous forecast of JPY 116,000 million. Operating income of JPY 6,500 million compared to previous forecast of JPY 5,300 million. Net income attributable to owners of parent of JPY 3,700 million compared to previous forecast of JPY 2,700 million. Net income per share of JPY 133.72 compared to previous forecast of JPY 103.16.
お知らせ • Mar 17+ 1 more updateMeiko Electronics Co., Ltd. to Report Q1, 2022 Results on Aug 06, 2021Meiko Electronics Co., Ltd. announced that they will report Q1, 2022 results on Aug 06, 2021
Is New 90 Day High Low • Feb 20New 90-day high: €16.90The company is up 6.0% from its price of €15.90 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 12% over the same period.
Reported Earnings • Feb 10Third quarter 2021 earnings released: EPS JP¥41.00 (vs JP¥63.84 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥32.5b (up 5.7% from 3Q 2020). Net income: JP¥1.07b (down 36% from 3Q 2020). Profit margin: 3.3% (down from 5.4% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
Analyst Estimate Surprise Post Earnings • Feb 10Revenue misses expectationsRevenue missed analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 12%, compared to a 23% growth forecast for the Electronic industry in Germany.
Is New 90 Day High Low • Jan 20New 90-day low: €14.30The company is down 8.0% from its price of €15.60 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.73 per share.
Is New 90 Day High Low • Nov 10New 90-day high: €16.90The company is up 51% from its price of €11.20 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.12 per share.
Analyst Estimate Surprise Post Earnings • Nov 09Revenue beats expectationsRevenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 6.9%, compared to a 24% growth forecast for the Electronic industry in Germany.
Reported Earnings • Nov 09Second quarter 2021 earnings released: EPS JP¥10.35The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥28.9b (down 3.4% from 2Q 2020). Net income: JP¥271.0m (down 79% from 2Q 2020). Profit margin: 0.9% (down from 4.2% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Oct 21New 90-day high: €15.40The company is up 38% from its price of €11.20 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.63 per share.
