Buy Or Sell Opportunity • Jun 30
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to JP¥2,485. The fair value is estimated to be JP¥2,002, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.2%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are forecast to decline by 3.6% per annum over the same time period. Major Estimate Revision • Jun 26
Consensus EPS estimates increase by 27% The consensus outlook for fiscal year 2027 has been updated. 2027 EPS estimate increased from JP¥150 to JP¥190. Revenue forecast unchanged at JP¥86.8b. Net income forecast to grow 1.7% next year vs 4.5% growth forecast for Tech industry in Japan. Consensus price target up from JP¥2,300 to JP¥2,750. Share price fell 6.0% to JP¥2,340 over the past week. Announcement • Jun 03
EIZO Corporation to Report Q1, 2027 Results on Jul 31, 2026 EIZO Corporation announced that they will report Q1, 2027 results on Jul 31, 2026 Major Estimate Revision • May 27
Consensus EPS estimates increase by 30% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has improved. 2027 revenue forecast increased from JP¥86.0b to JP¥87.0b. EPS estimate increased from JP¥115 to JP¥150 per share. Net income forecast to shrink 0.3% next year vs 2.9% growth forecast for Tech industry in Japan . Consensus price target of JP¥2,300 unchanged from last update. Share price rose 6.9% to JP¥2,584 over the past week. Buy Or Sell Opportunity • May 21
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to JP¥2,543. The fair value is estimated to be JP¥2,102, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.2%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to decline by 43% in the next 2 years. Reported Earnings • May 13
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥181 (up from JP¥101 in FY 2025). Revenue: JP¥81.3b (up 1.0% from FY 2025). Net income: JP¥7.32b (up 77% from FY 2025). Profit margin: 9.0% (up from 5.2% in FY 2025). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 104%. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Announcement • May 13
EIZO Corporation (TSE:6737) announces an Equity Buyback for 1,500,000 shares, representing 3.79% for ¥4,000 million. EIZO Corporation (TSE:6737) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 3.79%, for ¥4,000 million. The purpose of the program is enhance shareholder returns and improve capital efficiency. The program will be funded from company's cash on hand and the proceeds from the sale of investment securities held by the company. The program will expire on April 30, 2027. As of March 31, 2026, the company had 39,533,845 shares in issue and 2,796,975 shares in treasury. Announcement • May 12
EIZO Corporation, Annual General Meeting, Jun 23, 2026 EIZO Corporation, Annual General Meeting, Jun 23, 2026. Announcement • Apr 21
EIZO Corporation to Report Fiscal Year 2026 Results on May 12, 2026 EIZO Corporation announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 02 June 2026. Payout ratio is on the higher end at 88%, and the cash payout ratio is above 100%. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.1%). Announcement • Mar 15
EIZO Corporation Announces Board Changes, Effective June 23, 2026 EIZO Corporation announced that it has resolved, at a meeting of the Board of Directors held on March 12, 2026 retirement of Yoshitaka Jitsumori, Representative Director, Chairman; Kazuhiko Deminami, Director serving as Audit and Supervisory Committee Member (Full-time), (Scheduled to retire on June 23, 2026). New Risk • Mar 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 11x cash flows per share). Large one-off items impacting financial results. Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 42% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥85.6b to JP¥80.0b. EPS estimate also fell from JP¥148 per share to JP¥86.00 per share. Net income forecast to shrink 10% next year vs 2.7% growth forecast for Tech industry in Japan . Consensus price target of JP¥2,400 unchanged from last update. Share price was steady at JP¥2,187 over the past week. New Risk • Feb 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 20% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 20% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 11x cash flows per share). Large one-off items impacting financial results. Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥47.45 (vs JP¥31.20 in 3Q 2025) Third quarter 2026 results: EPS: JP¥47.45 (up from JP¥31.20 in 3Q 2025). Revenue: JP¥20.9b (down 1.8% from 3Q 2025). Net income: JP¥1.91b (up 49% from 3Q 2025). Profit margin: 9.1% (up from 6.0% in 3Q 2025). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Dec 02
EIZO Corporation to Report Q3, 2026 Results on Jan 30, 2026 EIZO Corporation announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Nov 29
First half dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 30th March 2026 Payment date: 2nd June 2026 Dividend yield will be 4.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio) nor is it covered by cash flows (dividend approximately 11x free cash flows). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. EPS is expected to grow by 27% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥15.14 (vs JP¥0.39 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥15.14 (up from JP¥0.39 loss in 2Q 2025). Revenue: JP¥20.5b (up 10% from 2Q 2025). Net income: JP¥623.0m (up JP¥639.0m from 2Q 2025). Profit margin: 3.0% (up from net loss in 2Q 2025). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Oct 31
EIZO Corporation (TSE:6737) announces an Equity Buyback for 1,800,000 shares, representing 4.37% for ¥4,000 million. EIZO Corporation (TSE:6737) announces a share repurchase program. Under the program, the company will repurchase up to 1,800,000 shares, representing 4.37%, for ¥4,000 million. The purpose of the program is enhance shareholder returns and improve capital efficiency. The program will be funded from company's cash on hand and the proceeds from the sale of investment securities held by the company. The program will expire on March 9, 2026. As of September 30, 2025, the company had 41,165,345 shares in issue and 2,796,975 shares in treasury. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.9%). Announcement • Sep 01
EIZO Corporation to Report Q2, 2026 Results on Oct 31, 2025 EIZO Corporation announced that they will report Q2, 2026 results on Oct 31, 2025 Price Target Changed • Aug 23
Price target increased by 7.1% to JP¥2,250 Up from JP¥2,100, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,248. Stock is up 1.3% over the past year. The company is forecast to post earnings per share of JP¥144 for next year compared to JP¥101 last year. Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥7.46 (vs JP¥17.62 in 1Q 2025) First quarter 2026 results: EPS: JP¥7.46 (down from JP¥17.62 in 1Q 2025). Revenue: JP¥17.3b (down 4.7% from 1Q 2025). Net income: JP¥307.0m (down 58% from 1Q 2025). Profit margin: 1.8% (down from 4.0% in 1Q 2025). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (114% earnings payout ratio). However, it is covered by cash flows (57% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 26% to bring the payout ratio under control. EPS is expected to grow by 19% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Jun 27
EIZO Corporation to Report Q1, 2026 Results on Jul 31, 2025 EIZO Corporation announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Jun 24
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥101 (down from JP¥133 in FY 2024). Revenue: JP¥80.5b (flat on FY 2024). Net income: JP¥4.15b (down 24% from FY 2024). Profit margin: 5.2% (down from 6.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Major Estimate Revision • Jun 17
Consensus EPS estimates increase by 32%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from JP¥85.0b to JP¥84.1b. EPS estimate rose from JP¥107 to JP¥141. Net income forecast to grow 40% next year vs 1.7% growth forecast for Tech industry in Japan. Consensus price target down from JP¥2,150 to JP¥2,100. Share price was steady at JP¥2,085 over the past week. Price Target Changed • May 29
Price target decreased by 10% to JP¥2,150 Down from JP¥2,400, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,069. Stock is down 16% over the past year. The company is forecast to post earnings per share of JP¥107 for next year compared to JP¥101 last year. Major Estimate Revision • May 24
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥87.5b to JP¥85.0b. EPS estimate also fell from JP¥139 per share to JP¥107 per share. Net income forecast to grow 6.1% next year vs 6.2% growth forecast for Tech industry in Japan. Consensus price target of JP¥2,250 unchanged from last update. Share price was steady at JP¥2,025 over the past week. Reported Earnings • May 09
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥101 (down from JP¥133 in FY 2024). Revenue: JP¥80.5b (flat on FY 2024). Net income: JP¥4.15b (down 24% from FY 2024). Profit margin: 5.2% (down from 6.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • May 08
EIZO Corporation, Annual General Meeting, Jun 20, 2025 EIZO Corporation, Annual General Meeting, Jun 20, 2025. Buy Or Sell Opportunity • Apr 24
Now 21% overvalued Over the last 90 days, the stock has fallen 5.8% to JP¥2,003. The fair value is estimated to be JP¥1,650, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 21%. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥52.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 02 June 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Mar 04
EIZO Corporation to Report Fiscal Year 2025 Results on May 08, 2025 EIZO Corporation announced that they will report fiscal year 2025 results on May 08, 2025 New Risk • Feb 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.6% Last year net profit margin: 7.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jan 30
Now 21% overvalued Over the last 90 days, the stock has fallen 2.9% to JP¥2,164. The fair value is estimated to be JP¥1,792, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 23%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Announcement • Dec 03
EIZO Corporation to Report Q3, 2025 Results on Jan 31, 2025 EIZO Corporation announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Nov 30
First half dividend of JP¥52.50 announced Shareholders will receive a dividend of JP¥52.50. Ex-date: 28th March 2025 Payment date: 2nd June 2025 Dividend yield will be 7.3%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio). However, it is well covered by cash flows (41% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. EPS is expected to grow by 56% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Major Estimate Revision • Nov 23
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥85.5b to JP¥81.0b. EPS estimate also fell from JP¥120 per share to JP¥82.60 per share. Net income forecast to grow 18% next year vs 13% growth forecast for Tech industry in Japan. Consensus price target down from JP¥2,400 to JP¥2,300. Share price was steady at JP¥2,186 over the past week. Price Target Changed • Nov 22
Price target decreased by 8.0% to JP¥2,300 Down from JP¥2,500, the current price target is an average from 2 analysts. New target price is 5.2% above last closing price of JP¥2,186. Stock is down 9.6% over the past year. The company is forecast to post earnings per share of JP¥82.60 for next year compared to JP¥133 last year. Reported Earnings • Nov 02
Second quarter 2025 earnings released: JP¥5,789 loss per share (vs JP¥10.57 profit in 2Q 2024) Second quarter 2025 results: JP¥5,789 loss per share (down from JP¥10.57 profit in 2Q 2024). Revenue: JP¥18.6b (flat on 2Q 2024). Net loss: JP¥16.0m (down 104% from profit in 2Q 2024). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥105 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.5%). Announcement • Aug 27
EIZO Corporation to Report Q2, 2025 Results on Oct 31, 2024 EIZO Corporation announced that they will report Q2, 2025 results on Oct 31, 2024 Major Estimate Revision • Aug 08
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥87.0b to JP¥85.5b. EPS estimate also fell from JP¥267 per share to JP¥241 per share. Net income forecast to grow 20% next year vs 13% growth forecast for Tech industry in Japan. Consensus price target down from JP¥5,000 to JP¥4,800. Share price fell 4.3% to JP¥4,255 over the past week. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥35.24 (vs JP¥83.75 in 1Q 2024) First quarter 2025 results: EPS: JP¥35.24 (down from JP¥83.75 in 1Q 2024). Revenue: JP¥18.2b (down 1.9% from 1Q 2024). Net income: JP¥725.0m (down 58% from 1Q 2024). Profit margin: 4.0% (down from 9.3% in 1Q 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 11
Final dividend of JP¥105 announced Shareholders will receive a dividend of JP¥105. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥265 (down from JP¥281 in FY 2023). Revenue: JP¥80.5b (flat on FY 2023). Net income: JP¥5.45b (down 7.0% from FY 2023). Profit margin: 6.8% (down from 7.3% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jun 02
EIZO Corporation to Report Q1, 2025 Results on Jul 31, 2024 EIZO Corporation announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥265 (down from JP¥281 in FY 2023). Revenue: JP¥80.5b (flat on FY 2023). Net income: JP¥5.45b (down 7.0% from FY 2023). Profit margin: 6.8% (down from 7.3% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 11
EIZO Corporation, Annual General Meeting, Jun 20, 2024 EIZO Corporation, Annual General Meeting, Jun 20, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.5%). Announcement • Mar 02
EIZO Corporation to Report Fiscal Year 2024 Results on May 09, 2024 EIZO Corporation announced that they will report fiscal year 2024 results on May 09, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥76.88 (vs JP¥37.31 in 3Q 2023) Third quarter 2024 results: EPS: JP¥76.88 (up from JP¥37.31 in 3Q 2023). Revenue: JP¥21.0b (up 2.0% from 3Q 2023). Net income: JP¥1.58b (up 105% from 3Q 2023). Profit margin: 7.5% (up from 3.7% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Dec 28
EIZO Corporation to Report Q3, 2024 Results on Jan 31, 2024 EIZO Corporation announced that they will report Q3, 2024 results on Jan 31, 2024 Major Estimate Revision • Nov 17
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥89.0b to JP¥82.0b. EPS estimate also fell from JP¥316 per share to JP¥243 per share. Net income forecast to grow 18% next year vs 16% growth forecast for Tech industry in Japan. Consensus price target down from JP¥5,050 to JP¥4,800. Share price fell 2.5% to JP¥4,795 over the past week. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥21.14 (vs JP¥83.21 in 2Q 2023) Second quarter 2024 results: EPS: JP¥21.14 (down from JP¥83.21 in 2Q 2023). Revenue: JP¥18.6b (flat on 2Q 2023). Net income: JP¥435.0m (down 75% from 2Q 2023). Profit margin: 2.3% (down from 9.3% in 2Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 14
EIZO Corporation to Report Q2, 2024 Results on Oct 31, 2023 EIZO Corporation announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥100.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.7%). Price Target Changed • Aug 02
Price target increased by 13% to JP¥5,050 Up from JP¥4,467, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥4,925. Stock is up 35% over the past year. The company is forecast to post earnings per share of JP¥316 for next year compared to JP¥281 last year. Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥83.75 (vs JP¥65.08 in 1Q 2023) First quarter 2024 results: EPS: JP¥83.75 (up from JP¥65.08 in 1Q 2023). Revenue: JP¥18.5b (up 3.9% from 1Q 2023). Net income: JP¥1.72b (up 25% from 1Q 2023). Profit margin: 9.3% (up from 7.7% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Board Change • Jul 26
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. External Independent Director Toru Inoue was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Jun 28
EIZO Corporation to Report Q1, 2024 Results on Jul 28, 2023 EIZO Corporation announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • Jun 21
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: JP¥281 (down from JP¥366 in FY 2022). Revenue: JP¥80.8b (down 6.8% from FY 2022). Net income: JP¥5.86b (down 25% from FY 2022). Profit margin: 7.3% (down from 9.0% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Price Target Changed • May 25
Price target increased by 14% to JP¥4,467 Up from JP¥3,933, the current price target is an average from 3 analysts. New target price is 5.6% below last closing price of JP¥4,730. Stock is up 37% over the past year. The company is forecast to post earnings per share of JP¥306 for next year compared to JP¥281 last year. Reported Earnings • May 18
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: JP¥281 (down from JP¥366 in FY 2022). Revenue: JP¥80.8b (down 6.8% from FY 2022). Net income: JP¥5.86b (down 25% from FY 2022). Profit margin: 7.3% (down from 9.0% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Announcement • May 14
EIZO Corporation, Annual General Meeting, Jun 22, 2023 EIZO Corporation, Annual General Meeting, Jun 22, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.1%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥37.30 (vs JP¥74.25 in 3Q 2022) Third quarter 2023 results: EPS: JP¥37.30 (down from JP¥74.25 in 3Q 2022). Revenue: JP¥20.6b (up 3.0% from 3Q 2022). Net income: JP¥771.0m (down 51% from 3Q 2022). Profit margin: 3.7% (down from 7.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jan 20
EIZO Corporation to Report Q3, 2023 Results on Jan 31, 2023 EIZO Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 Price Target Changed • Nov 25
Price target decreased to JP¥3,933 Down from JP¥4,333, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥3,775. Stock is down 5.5% over the past year. The company is forecast to post earnings per share of JP¥302 for next year compared to JP¥366 last year. Price Target Changed • Nov 16
Price target decreased to JP¥4,333 Down from JP¥4,733, the current price target is an average from 3 analysts. New target price is 12% above last closing price of JP¥3,870. Stock is down 5.8% over the past year. The company is forecast to post earnings per share of JP¥315 for next year compared to JP¥366 last year. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: JP¥83.21 (vs JP¥93.15 in 2Q 2022) Second quarter 2023 results: EPS: JP¥83.21 (down from JP¥93.15 in 2Q 2022). Revenue: JP¥18.7b (down 9.1% from 2Q 2022). Net income: JP¥1.74b (down 12% from 2Q 2022). Profit margin: 9.3% (in line with 2Q 2022). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.8%). Announcement • Aug 31
EIZO Corporation to Report Q2, 2023 Results on Oct 28, 2022 EIZO Corporation announced that they will report Q2, 2023 results on Oct 28, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥65.08 (vs JP¥148 in 1Q 2022) First quarter 2023 results: EPS: JP¥65.08 (down from JP¥148 in 1Q 2022). Revenue: JP¥17.8b (down 23% from 1Q 2022). Net income: JP¥1.38b (down 56% from 1Q 2022). Profit margin: 7.7% (down from 14% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 5.5%, compared to a 7.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.