Rorze (TSE:6323) - Share price, News & Analysis

6323 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	4/6
Past Performance	4/6
Financial Health	4/6
Dividends	3/6

6323 Stock Overview

Rorze Corporation engages in the design, development, manufacture, and sale of automation systems for the semiconductor and flat panel display production worldwide.

Rewards

Trading at 55% below our estimate of its fair value

Earnings are forecast to grow 17.33% per year

Earnings have grown 28% per year over the past 5 years

Risk Analysis

Highly volatile share price over the past 3 months

High level of non-cash earnings

Rorze Competitors

Daikin IndustriesLtd

TSE:6367

JP¥5.8t

TDK

TSE:6762

JP¥1.7t

Jabil

NYSE:JBL

US$8.1b

Flex

NasdaqGS:FLEX

US$7.2b

Price History & Performance

Summary of all time highs, changes and price drops for Rorze
Historical stock prices
Current Share Price	JP¥10,850.00
52 Week High	JP¥13,580.00
52 Week Low	JP¥7,000.00
Beta	1.93
1 Month Change	-9.88%
3 Month Change	4.23%
1 Year Change	18.45%
3 Year Change	436.60%
5 Year Change	330.73%
Change since IPO	2,351.98%

Shareholder Returns

	6323	JP Semiconductor	JP Market
7D	3.5%	3.3%	0.7%
1Y	18.5%	15.2%	-2.9%

Return vs Industry: 6323 exceeded the JP Semiconductor industry which returned 15.2% over the past year.

Return vs Market: 6323 exceeded the JP Market which returned -2.9% over the past year.

Price Volatility

Is 6323's price volatile compared to industry and market?
6323 volatility
6323 Average Weekly Movement	9.4%
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: 6323 is more volatile than 90% of JP stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: 6323's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of JP stocks.

About the Company

Founded	Employees	CEO	Website
1985	2,473	Yoshiyuki Fujishiro	https://www.rorze.com

Rorze Corporation engages in the design, development, manufacture, and sale of automation systems for the semiconductor and flat panel display production worldwide. The company offers wafer handling systems, including atmospheric robots, vacuum wafer robots, aligners, load ports, vacuum platforms, EFEMs/sorters, and stockers; and mask/reticle handling systems. It also provides system integration and package service, as well as host online communication, equipment control, and EDA/interface A solutions; and control devices, such as controllers, and stepping motors and drivers.

Rorze Fundamentals Summary

How do Rorze's earnings and revenue compare to its market cap?
6323 fundamental statistics
Market Cap	JP¥187.50b
Earnings (TTM)	JP¥12.82b
Revenue (TTM)	JP¥67.00b

14.6x

P/E Ratio

2.8x

P/S Ratio

Is 6323 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
6323 income statement (TTM)
Revenue	JP¥67.00b
Cost of Revenue	JP¥44.37b
Gross Profit	JP¥22.64b
Other Expenses	JP¥9.82b
Earnings	JP¥12.82b

Last Reported Earnings

Feb 28, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	742.07
Gross Margin	33.79%
Net Profit Margin	19.14%
Debt/Equity Ratio	41.6%

How did 6323 perform over the long term?

See historical performance and comparison

Dividends

1.0%

Current Dividend Yield

9%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 6323 (¥10850) is trading below our estimate of fair value (¥24085.11)

Significantly Below Fair Value: 6323 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: 6323 is poor value based on its PE Ratio (14.6x) compared to the JP Semiconductor industry average (11.6x).

PE vs Market: 6323 is poor value based on its PE Ratio (14.6x) compared to the JP market (12.2x).

Price to Earnings Growth Ratio

PEG Ratio: 6323 is good value based on its PEG Ratio (0.8x)

Price to Book Ratio

PB vs Industry: 6323 is overvalued based on its PB Ratio (4.1x) compared to the JP Semiconductor industry average (1.5x).

Future Growth

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

Future Growth Score

4/6

Future Growth Score 4/6

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

17.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6323's forecast earnings growth (17.3% per year) is above the savings rate (0.02%).

Earnings vs Market: 6323's earnings (17.3% per year) are forecast to grow faster than the JP market (8.8% per year).

High Growth Earnings: 6323's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6323's revenue (14.5% per year) is forecast to grow faster than the JP market (4% per year).

High Growth Revenue: 6323's revenue (14.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 6323's Return on Equity is forecast to be high in 3 years time (24.6%)

Past Performance

How has Rorze performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

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

28.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6323 has a high level of non-cash earnings.

Growing Profit Margin: 6323's current net profit margins (19.1%) are higher than last year (12.7%).

Past Earnings Growth Analysis

Earnings Trend: 6323's earnings have grown significantly by 28% per year over the past 5 years.

Accelerating Growth: 6323's earnings growth over the past year (98.2%) exceeds its 5-year average (28% per year).

Earnings vs Industry: 6323 earnings growth over the past year (98.2%) underperformed the Semiconductor industry 100.7%.

Return on Equity

High ROE: 6323's Return on Equity (27.5%) is considered high.

Financial Health

How is Rorze's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

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

Financial Position Analysis

Short Term Liabilities: 6323's short term assets (¥66.5B) exceed its short term liabilities (¥28.5B).

Long Term Liabilities: 6323's short term assets (¥66.5B) exceed its long term liabilities (¥9.6B).

Debt to Equity History and Analysis

Debt Level: 6323 has more cash than its total debt.

Reducing Debt: 6323's debt to equity ratio has increased from 24.6% to 41.6% over the past 5 years.

Debt Coverage: 6323's debt is not well covered by operating cash flow (14.4%).

Interest Coverage: 6323's interest payments on its debt are well covered by EBIT (832.1x coverage).

Balance Sheet

Dividend

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

Dividend Score

3/6

Dividend Score 3/6

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

1.01%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 6323's dividend (1.01%) isn’t notable compared to the bottom 25% of dividend payers in the JP market (1.64%).

High Dividend: 6323's dividend (1.01%) is low compared to the top 25% of dividend payers in the JP market (3.7%).

Stability and Growth of Payments

Stable Dividend: 6323's dividends per share have been stable in the past 10 years.

Growing Dividend: 6323's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (8.8%), 6323's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (211.2%), 6323's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

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

11.5yrs

Average board tenure

CEO

Yoshiyuki Fujishiro (41 yo)

7yrs

Tenure

Mr. Yoshiyuki Fujishiro has been President of Rorze Corporation since May 2015. Mr. Fujishiro serves as Chief Executive Officer of Rorze Corporation. Mr. Fujishiro served as a Senior Managing Director at R...

Board Members

Experienced Board: 6323's board of directors are seasoned and experienced ( 11.5 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	2022/02/28
Annual Earnings	2022/02/28