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6787

Meiko Electronics TSE:6787 Stock Report

Last Price

JP¥3.34k

Market Cap

JP¥85.6b

7D

7.1%

1Y

28.5%

Updated

17 Aug, 2022

Data

Company Financials +
6787 fundamental analysis
Snowflake Score
Valuation6/6
Future Growth3/6
Past Performance5/6
Financial Health4/6
Dividends3/6

6787 Stock Overview

Meiko Electronics Co., Ltd. engages in the design, manufacture, and sale of printed circuit boards (PCBs) and auxiliary electronics in Japan, rest of Asia, North America, Europe, and internationally.

Meiko Electronics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Meiko Electronics
Historical stock prices
Current Share PriceJP¥3,340.00
52 Week HighJP¥4,880.00
52 Week LowJP¥2,474.00
Beta1.43
1 Month Change6.37%
3 Month Change-20.19%
1 Year Change28.46%
3 Year Change114.79%
5 Year Change95.67%
Change since IPO480.87%

Recent News & Updates

Shareholder Returns

6787JP ElectronicJP Market
7D7.1%3.8%2.5%
1Y28.5%-3.3%1.9%

Return vs Industry: 6787 exceeded the JP Electronic industry which returned -3.3% over the past year.

Return vs Market: 6787 exceeded the JP Market which returned 1.9% over the past year.

Price Volatility

Is 6787's price volatile compared to industry and market?
6787 volatility
6787 Average Weekly Movement6.4%
Electronic Industry Average Movement4.0%
Market Average Movement3.8%
10% most volatile stocks in JP Market7.8%
10% least volatile stocks in JP Market2.0%

Stable Share Price: 6787 is more volatile than 75% of JP stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 6787's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of JP stocks.

About the Company

FoundedEmployeesCEOWebsite
197513,637Yuichiro Nayahttps://www.meiko-elec.com

Meiko Electronics Co., Ltd. engages in the design, manufacture, and sale of printed circuit boards (PCBs) and auxiliary electronics in Japan, rest of Asia, North America, Europe, and internationally. Its principal products include double-sided/multi-layer through-hole PCBs, HDI PCBs, flexible PCBs, flex-rigid PCBs, high electric current PCBs, heat dissipation PCBs, embedded devices PCBs, solder stencils, PCB testers, and imaging devices and systems. The company also provides circuit design and electronic manufacturing services.

Meiko Electronics Fundamentals Summary

How do Meiko Electronics's earnings and revenue compare to its market cap?
6787 fundamental statistics
Market CapJP¥85.64b
Earnings (TTM)JP¥13.59b
Revenue (TTM)JP¥158.01b

6.3x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
6787 income statement (TTM)
RevenueJP¥158.01b
Cost of RevenueJP¥129.41b
Gross ProfitJP¥28.60b
Other ExpensesJP¥15.01b
EarningsJP¥13.59b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)530.10
Gross Margin18.10%
Net Profit Margin8.60%
Debt/Equity Ratio114.4%

How did 6787 perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

9%

Payout Ratio

Does 6787 pay a reliable dividends?

See 6787 dividend history and benchmarks
When do you need to buy 6787 by to receive an upcoming dividend?
Meiko Electronics dividend dates
Ex Dividend DateSep 29 2022
Dividend Pay DateNov 30 2022
Days until Ex dividend42 days
Days until Dividend pay date104 days

Does 6787 pay a reliable dividends?

See 6787 dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is 6787 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6787?

Other financial metrics that can be useful for relative valuation.

6787 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.9x
Enterprise Value/EBITDA6.8x
PEG Ratio0.7x

Price to Earnings Ratio vs Peers

How does 6787's PE Ratio compare to its peers?

6787 PE Ratio vs Peers
The above table shows the PE ratio for 6787 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average12.6x
6999 KOA
14.4x13.9%JP¥82.0b
6804 Hosiden
4.9x-38.5%JP¥84.4b
6908 Iriso Electronics
21.9x17.8%JP¥94.0b
6996 Nichicon
9.2x-0.2%JP¥97.0b
6787 Meiko Electronics
6.3x9.0%JP¥85.6b

Price-To-Earnings vs Peers: 6787 is good value based on its Price-To-Earnings Ratio (6.3x) compared to the peer average (12.6x).


Price to Earnings Ratio vs Industry

How does 6787's PE Ratio compare vs other companies in the JP Electronic Industry?

Price-To-Earnings vs Industry: 6787 is good value based on its Price-To-Earnings Ratio (6.3x) compared to the JP Electronic industry average (11.7x)


Price to Earnings Ratio vs Fair Ratio

What is 6787's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

6787 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.3x
Fair PE Ratio14.9x

Price-To-Earnings vs Fair Ratio: 6787 is good value based on its Price-To-Earnings Ratio (6.3x) compared to the estimated Fair Price-To-Earnings Ratio (14.9x).


Share Price vs Fair Value

What is the Fair Price of 6787 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6787 (¥3340) is trading below our estimate of fair value (¥7101.06)

Significantly Below Fair Value: 6787 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Meiko Electronics forecast to perform in the next 1 to 3 years based on estimates from 4 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


9.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6787's forecast earnings growth (9% per year) is above the savings rate (0.04%).

Earnings vs Market: 6787's earnings (9% per year) are forecast to grow faster than the JP market (8.6% per year).

High Growth Earnings: 6787's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6787's revenue (10.4% per year) is forecast to grow faster than the JP market (4.3% per year).

High Growth Revenue: 6787's revenue (10.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 6787's Return on Equity is forecast to be low in 3 years time (17%).


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Past Performance

How has Meiko Electronics performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


17.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6787 has high quality earnings.

Growing Profit Margin: 6787's current net profit margins (8.6%) are higher than last year (5.1%).


Past Earnings Growth Analysis

Earnings Trend: 6787's earnings have grown by 17% per year over the past 5 years.

Accelerating Growth: 6787's earnings growth over the past year (108.3%) exceeds its 5-year average (17% per year).

Earnings vs Industry: 6787 earnings growth over the past year (108.3%) exceeded the Electronic industry 28.2%.


Return on Equity

High ROE: 6787's Return on Equity (19.6%) is considered low.


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Financial Health

How is Meiko Electronics'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: 6787's short term assets (¥93.0B) exceed its short term liabilities (¥81.3B).

Long Term Liabilities: 6787's short term assets (¥93.0B) exceed its long term liabilities (¥39.6B).


Debt to Equity History and Analysis

Debt Level: 6787's net debt to equity ratio (91.8%) is considered high.

Reducing Debt: 6787's debt to equity ratio has reduced from 151.4% to 114.4% over the past 5 years.

Debt Coverage: 6787's debt is not well covered by operating cash flow (17.7%).

Interest Coverage: 6787's interest payments on its debt are well covered by EBIT (22.7x coverage).


Balance Sheet


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Dividend

What is Meiko Electronics's 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

  • Cash Flow Coverage


1.50%

Current Dividend Yield

Upcoming Dividend Payment

TodayAug 17 2022Ex Dividend DateSep 29 2022Dividend Pay DateNov 30 202262 days from Ex DividendBuy in the next 42 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 6787's dividend (1.5%) isn’t notable compared to the bottom 25% of dividend payers in the JP market (1.62%).

High Dividend: 6787's dividend (1.5%) is low compared to the top 25% of dividend payers in the JP market (3.61%).


Stability and Growth of Payments

Stable Dividend: 6787's dividend payments have been volatile in the past 10 years.

Growing Dividend: 6787's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (8.5%), 6787's dividend payments are thoroughly covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (64%), 6787's dividend payments are covered by cash flows.


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Management

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

6.4yrs

Average management tenure


CEO

Yuichiro Naya (79 yo)

16.17yrs

Tenure

Mr. Yuichiro Naya has been the President of Meiko Electronics Co., Ltd. since June 2006 and also serves as its Chief Executive Officer. Mr. Naya has been the President of Miyagi Meiko K.K. since December...


Leadership Team

Experienced Management: 6787's management team is seasoned and experienced (6.4 years average tenure).


Board Members

Experienced Board: 6787's board of directors are considered experienced (3.6 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

Meiko Electronics Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Meiko Electronics Co., Ltd.
  • Ticker: 6787
  • Exchange: TSE
  • Founded: 1975
  • Industry: Electronic Components
  • Sector: Tech
  • Implied Market Cap: JP¥85.640b
  • Shares outstanding: 25.64m
  • Website: https://www.meiko-elec.com

Number of Employees


Location

  • Meiko Electronics Co., Ltd.
  • 5-14-15, Ogami
  • Ayase
  • Kanagawa
  • 252-1104
  • Japan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/17 00:00
End of Day Share Price2022/08/17 00:00
Earnings2022/06/30
Annual Earnings2022/03/31


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.