TSE:6103Machinery
Okuma (TSE:6103) Can Stronger Profitability Justify Its 20.1x P E?
Okuma stock went into this earnings release already on a tear, with the share price up around 14% over the past month, so expectations were high. The report delivered where it counts for a precision machinery maker. Basic earnings per share for the quarter came in at ¥84.51 and net income reached ¥4,984 million, while trailing earnings over the past year now support a P/E of 20.1x. The real focus now is whether investors treat that richer valuation as a reward for stronger profitability or as...