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
| KEE | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.7% | -0.4% | 0.1% |
| 30 Day | -1.5% | 7.3% | 0.2% |
| 90 Day | 2.7% | 6.3% | 3.3% |
| 1 Year | 27.2%26.8% | 13.4%10.9% | 17.6%14.1% |
| 3 Year | 74.3%72.9% | 47.9%43.0% | 14.8%4.8% |
| 5 Year | 186.1%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
Dividend Yield vs Market
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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & Representative Director | 9.2yrs | no data | 0.0011% ¥867.6k | |
| Manager of Development Promotion Department & Director | 10.7yrs | no data | no data | |
| Manager of Mgmt Information Office | 5.7yrs | no data | 0.00082% ¥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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & Representative Director | 9.2yrs | no data | 0.0011% ¥867.6k | |
| Manager of Development Promotion Department & Director | 10.7yrs | no data | no data | |
| Manager of Mgmt Information Office | 5.7yrs | no data | 0.00082% ¥629.6k | |
| Honorary Chairman | 4.9yrs | no data | 7.73% ¥5.9b | |
| Director | 5.7yrs | no data | no data | |
| Outside Director | 3.7yrs | no data | no data | |
| Outside Auditor | 12.4yrs | no data | no data | |
| Director | 0yrs | no data | no data | |
| Director | 0yrs | no data | no data | |
| Outside Director | 0yrs | no data | no 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| KYCC.F | OTCPK (Pink Sheets LLC) | Yes | Common Stock | US | USD | Jan 1992 |
| KEE | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jan 1992 |
| 6861 | TSE (The Tokyo Stock Exchange) | Yes | Common Stock | JP | JPY | Jan 1992 |
| KEY N | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Jan 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/18 20:40 |
| End of Day Share Price | 2020/02/18 00:00 |
| Earnings | 2019/12/20 |
| Annual Earnings | 2019/03/20 |
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.