OptorunLtd (TSE:6235) - Share price, News & Analysis

6235 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	3/6
Past Performance	2/6
Financial Health	6/6
Dividends	3/6

6235 Stock Overview

Optorun Co.,Ltd. engages in the manufacture, distribution, and import/export of vacuum coating machines, peripheral equipment, and units using vacuum coating products in Japan.

Rewards

Trading at 17.9% below our estimate of its fair value

Earnings are forecast to grow 15.34% per year

Risk Analysis

Unstable dividend track record

OptorunLtd Competitors

Intevac

NasdaqGS:IVAC

US$127.6m

Price History & Performance

Summary of all time highs, changes and price drops for OptorunLtd
Historical stock prices
Current Share Price	JP¥1,860.00
52 Week High	JP¥2,755.00
52 Week Low	JP¥1,598.00
Beta	0
1 Month Change	-4.17%
3 Month Change	-2.36%
1 Year Change	-31.54%
3 Year Change	-16.56%
5 Year Change	n/a
Change since IPO	-15.46%

Shareholder Returns

	6235	JP Semiconductor	JP Market
7D	-1.2%	3.3%	0.7%
1Y	-31.5%	15.2%	-2.9%

Return vs Industry: 6235 underperformed the JP Semiconductor industry which returned 15.2% over the past year.

Return vs Market: 6235 underperformed the JP Market which returned -2.9% over the past year.

Price Volatility

Is 6235's price volatile compared to industry and market?
6235 volatility
6235 Average Weekly Movement	6.0%
Semiconductor Industry Average Movement	6.5%
Market Average Movement	4.6%
10% most volatile stocks in JP Market	9.1%
10% least volatile stocks in JP Market	2.5%

Stable Share Price: 6235 is not significantly more volatile than the rest of JP stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 6235's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1999	566	Dae Son	https://www.optorun.co.jp

Optorun Co.,Ltd. engages in the manufacture, distribution, and import/export of vacuum coating machines, peripheral equipment, and units using vacuum coating products in Japan. The company offers optical thin film coaters, reactive plasma deposition systems, optical thin film sputterring coaters, multilayer optical coaters, and optical wafer level sputtering coaters, as well as atomic layer deposition coater equipment; and components, such as ion sources, optical monitors, etc. It also develops physical vapor deposition materials; and provides maintenance and consulting services for its products.

OptorunLtd Fundamentals Summary

How do OptorunLtd's earnings and revenue compare to its market cap?
6235 fundamental statistics
Market Cap	JP¥80.49b
Earnings (TTM)	JP¥5.48b
Revenue (TTM)	JP¥29.13b

14.7x

P/E Ratio

2.8x

P/S Ratio

Is 6235 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
6235 income statement (TTM)
Revenue	JP¥29.13b
Cost of Revenue	JP¥0
Gross Profit	JP¥0
Other Expenses	-JP¥5.48b
Earnings	JP¥5.48b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	126.61
Gross Margin	45.97%
Net Profit Margin	18.81%
Debt/Equity Ratio	0.9%

How did 6235 perform over the long term?

See historical performance and comparison

Dividends

2.3%

Current Dividend Yield

39%

Payout Ratio

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

17.9%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 6235 (¥1860) is trading below our estimate of fair value (¥2264.94)

Significantly Below Fair Value: 6235 is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: 6235 is poor value based on its PE Ratio (14.7x) compared to the JP Semiconductor industry average (11.6x).

PE vs Market: 6235 is poor value based on its PE Ratio (14.7x) compared to the JP market (12.2x).

Price to Earnings Growth Ratio

PEG Ratio: 6235 is good value based on its PEG Ratio (1x)

Price to Book Ratio

PB vs Industry: 6235 is overvalued based on its PB Ratio (1.7x) compared to the JP Semiconductor industry average (1.5x).

Future Growth

How is OptorunLtd forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

15.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6235's forecast earnings growth (15.3% per year) is above the savings rate (0.02%).

Earnings vs Market: 6235's earnings (15.3% per year) are forecast to grow faster than the JP market (8.8% per year).

High Growth Earnings: 6235's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6235's revenue (10.7% per year) is forecast to grow faster than the JP market (4% per year).

High Growth Revenue: 6235'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: 6235's Return on Equity is forecast to be low in 3 years time (13.1%).

Past Performance

How has OptorunLtd performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-5.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6235 has high quality earnings.

Growing Profit Margin: 6235's current net profit margins (18.8%) are higher than last year (18.1%).

Past Earnings Growth Analysis

Earnings Trend: 6235's earnings have declined by 5.9% per year over the past 5 years.

Accelerating Growth: 6235's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 6235 had negative earnings growth (-19.5%) over the past year, making it difficult to compare to the Semiconductor industry average (100.7%).

Return on Equity

High ROE: 6235's Return on Equity (11.9%) is considered low.

Financial Health

How is OptorunLtd's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 6235's short term assets (¥55.9B) exceed its short term liabilities (¥20.7B).

Long Term Liabilities: 6235's short term assets (¥55.9B) exceed its long term liabilities (¥1.8B).

Debt to Equity History and Analysis

Debt Level: 6235 has more cash than its total debt.

Reducing Debt: 6235's debt to equity ratio has reduced from 39.8% to 0.9% over the past 5 years.

Debt Coverage: 6235's debt is well covered by operating cash flow (2445.1%).

Interest Coverage: 6235 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is OptorunLtd current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.26%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 6235's dividend (2.26%) is higher than the bottom 25% of dividend payers in the JP market (1.64%).

High Dividend: 6235's dividend (2.26%) is low compared to the top 25% of dividend payers in the JP market (3.7%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 6235 has been paying a dividend for less than 10 years.

Growing Dividend: 6235 has only been paying a dividend for 4 years, and since then payments have not increased.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (39.4%), 6235's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (18.7%), 6235's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

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

5.2yrs

Average management tenure

CEO

Dae Son

22.75yrs

Tenure

Mr. Dae Woong Son founded Optorun Co., Ltd. in August 1999. Mr. Son serves as Chief Executive Officer, President and Representative Director at Optorun Co., Ltd.

Leadership Team

Experienced Management: 6235's management team is seasoned and experienced (5.2 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/22 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31