DB:KEE

Stock Analysis Report

Executive Summary

Keyence Corporation, together with its subsidiaries, develops, manufactures, and sells factory automation solutions worldwide.


Snowflake Analysis

Flawless balance sheet with limited growth.


Similar Companies

Share Price & News

How has Keyence's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KEE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.7%

KEE

-0.4%

DE Electronic

0.1%

DE Market


1 Year Return

26.8%

KEE

10.9%

DE Electronic

14.1%

DE Market

Return vs Industry: KEE exceeded the German Electronic industry which returned 13.4% over the past year.

Return vs Market: KEE exceeded the German Market which returned 15.1% over the past year.


Shareholder returns

KEEIndustryMarket
7 Day0.7%-0.4%0.1%
30 Day-1.5%7.3%0.2%
90 Day2.7%6.3%3.3%
1 Year27.2%26.8%13.4%10.9%17.6%14.1%
3 Year74.3%72.9%47.9%43.0%14.8%4.8%
5 Year186.1%182.2%113.8%98.5%22.2%5.4%

Price Volatility Vs. Market

How volatile is Keyence's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Keyence undervalued compared to its fair value and its price relative to the market?

44.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: KEE (€311.3) is trading above our estimate of fair value (€143.07)

Significantly Below Fair Value: KEE is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: KEE is poor value based on its PE Ratio (44.7x) compared to the Electronic industry average (34.4x).

PE vs Market: KEE is poor value based on its PE Ratio (44.7x) compared to the German market (20.9x).


Price to Earnings Growth Ratio

PEG Ratio: KEE is poor value based on its PEG Ratio (3.4x)


Price to Book Ratio

PB vs Industry: KEE is overvalued based on its PB Ratio (5.3x) compared to the DE Electronic industry average (1.8x).


Next Steps

Future Growth

How is Keyence forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

13.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KEE's forecast earnings growth (13.3% per year) is above the savings rate (-0.4%).

Earnings vs Market: KEE's earnings (13.3% per year) are forecast to grow slower than the German market (13.3% per year).

High Growth Earnings: KEE's earnings are forecast to grow, but not significantly.

Revenue vs Market: KEE's revenue (10.7% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: KEE's revenue (10.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KEE's Return on Equity is forecast to be low in 3 years time (12.8%).


Next Steps

Past Performance

How has Keyence performed over the past 5 years?

14.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KEE has a high level of non-cash earnings.

Growing Profit Margin: KEE's current net profit margins (36.6%) are lower than last year (38.9%).


Past Earnings Growth Analysis

Earnings Trend: KEE's earnings have grown by 14.7% per year over the past 5 years.

Accelerating Growth: KEE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: KEE had negative earnings growth (-10.4%) over the past year, making it difficult to compare to the Electronic industry average (-3.9%).


Return on Equity

High ROE: KEE's Return on Equity (11.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Keyence's financial position?


Financial Position Analysis

Short Term Liabilities: KEE's short term assets (¥1,061.9B) exceed its short term liabilities (¥57.1B).

Long Term Liabilities: KEE's short term assets (¥1,061.9B) exceed its long term liabilities (¥1.8B).


Debt to Equity History and Analysis

Debt Level: KEE is debt free.

Reducing Debt: KEE has not had any debt for past 5 years.

Debt Coverage: KEE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: KEE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: KEE has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if KEE's debt is covered by short term assets.


Next Steps

Dividend

What is Keyence's current dividend yield, its reliability and sustainability?

0.27%

Current Dividend Yield


Upcoming Dividend Payment

TodayFeb 19 2020Ex Dividend DateMar 18 2020Dividend Pay DateJun 17 202091 days from Ex DividendBuy in the next 28 days to receive upcoming dividend

Dividend Yield vs Market

company0.3%marketbottom25%1.3%markettop25%3.6%industryaverage1.2%forecastin3Years0.5%

Current dividend yield vs market & industry

Notable Dividend: KEE's dividend (0.27%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: KEE's dividend (0.27%) is low compared to the top 25% of dividend payers in the German market (3.59%).


Stability and Growth of Payments

Stable Dividend: KEE is not paying a notable dividend for the German market, therefore no need to check if payments are stable.

Growing Dividend: KEE is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: KEE is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of KEE's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.2yrs

Average management tenure


CEO

Akinori Yamamoto (54yo)

9.2yrs

Tenure

Mr. Akinori Yamamoto, CPA, has been the President of Keyence Corporation since December 2010. Mr. Yamamoto serves as Executive Director of Japan at GCA Savvian Corporation and served as its Vice President  ...


Leadership Team

NamePositionTenureCompensationOwnership
Akinori Yamamoto
President & Representative Director9.2yrsno data0.0011% ¥867.6k
Akira Kanzawa
Manager of Development Promotion Department & Director10.7yrsno datano data
Keiichi Kimura
Manager of Mgmt Information Office5.7yrsno data0.00082% ¥629.6k

9.2yrs

Average Tenure

54yo

Average Age

Experienced Management: KEE's management team is seasoned and experienced (9.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Akinori Yamamoto
President & Representative Director9.2yrsno data0.0011% ¥867.6k
Akira Kanzawa
Manager of Development Promotion Department & Director10.7yrsno datano data
Keiichi Kimura
Manager of Mgmt Information Office5.7yrsno data0.00082% ¥629.6k
Takemitsu Takizaki
Honorary Chairman4.9yrsno data7.73% ¥5.9b
Masayuki Miki
Director5.7yrsno datano data
Yoichi Tanabe
Outside Director3.7yrsno datano data
Koichi Ogawa
Outside Auditor12.4yrsno datano data
Akiji Yamaguchi
Director0yrsno datano data
Yu Nakata
Director0yrsno datano data
Seiichi Taniguchi
Outside Director0yrsno datano data

5.7yrs

Average Tenure

54yo

Average Age

Experienced Board: KEE's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Keyence Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Keyence Corporation
  • Ticker: KEE
  • Exchange: DB
  • Founded: 1972
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: JP¥9.119t
  • Listing Market Cap: JP¥76.778b
  • Shares outstanding: 242.53m
  • Website: https://www.keyence.com

Number of Employees


Location

  • Keyence Corporation
  • 1-3-14, Higashi-Nakajima
  • Higashi-Yodogawa-ku
  • Osaka
  • 533-8555
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KYCC.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992
KEEDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
6861TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
KEY NBMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJan 1992

Biography

Keyence Corporation, together with its subsidiaries, develops, manufactures, and sells factory automation solutions worldwide. The company offers photoelectric, fiber optic, laser, positioning, vision, and inductive proximity sensors, as well as network communication units used for presence/absence and part differentiation applications. It also provides measurement sensors, such as laser displacement and profilometer, optical/laser micrometer, 3D interference measurement, spectral interference displacement, and contact displacement/LVDT sensors; and image and 3D measurement systems. In addition, the company offers safety products comprising safety light curtains and laser scanners, and e-stop controllers to protect operators from machine hazards; and pressure, flow, level, and temperature sensors for monitoring equipment processes. Further, it provides static eliminators/ionizers and electrostatic sensors which protect workers, machinery, and products from the damaging effects of electrostatic charge; vision systems and sensors, and barcode scanners to perform automatic inspection and part identification; and PLC and other controls that are used for machine control applications; and optical comparators and 3D measurement systems to monitor equipment processes, including pressure and flow. Additionally, the company offers flow sensors/meters, pressure sensors, temperature sensors, and level sensors; laser marking systems/laser markers, as well as industrial inkjet printers; digital, 3D laser scanning, and fluorescence microscopes, as well as wide-area 3D measuring systems for industrial and life science applications; and handheld mobile computers. It serves customers in automotive/chassis assembly, metals/machining, FPD/glass, semiconductor/ICS, plastic/molding, food/pharmaceutical, steel, and other industries. Keyence Corporation was founded in 1972 and is headquartered in Osaka, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 20:40
End of Day Share Price2020/02/18 00:00
Earnings2019/12/20
Annual Earnings2019/03/20


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.