TSE:6866

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Executive Summary

Hioki E.E. Corporation, together with its subsidiaries, develops, manufactures, sells, and services electrical measuring instruments worldwide. More Details


Snowflake Analysis

Flawless balance sheet with moderate growth potential.

Share Price & News

How has Hioki E.E's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 6866 is not significantly more volatile than the rest of JP stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 6866's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-4.1%

6866

-7.2%

JP Electronic

-3.2%

JP Market


1 Year Return

13.2%

6866

37.3%

JP Electronic

24.1%

JP Market

Return vs Industry: 6866 underperformed the JP Electronic industry which returned 37.3% over the past year.

Return vs Market: 6866 underperformed the JP Market which returned 24.1% over the past year.


Shareholder returns

6866IndustryMarket
7 Day-4.1%-7.2%-3.2%
30 Day-13.0%-9.3%0.2%
90 Day-9.1%1.1%4.5%
1 Year15.0%13.2%39.5%37.3%27.2%24.1%
3 Year10.5%3.8%37.6%31.3%17.2%9.1%
5 Year73.3%56.1%112.7%96.1%52.7%35.8%

Long-Term Price Volatility Vs. Market

How volatile is Hioki E.E's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Hioki E.E undervalued compared to its fair value and its price relative to the market?

9.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 6866 (¥3655) is trading below our estimate of fair value (¥4041.01)

Significantly Below Fair Value: 6866 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 6866 is poor value based on its PE Ratio (24.1x) compared to the JP Electronic industry average (16.7x).

PE vs Market: 6866 is poor value based on its PE Ratio (24.1x) compared to the JP market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: 6866 is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: 6866 is overvalued based on its PB Ratio (1.9x) compared to the JP Electronic industry average (0.9x).


Next Steps

Future Growth

How is Hioki E.E forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

18.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6866's forecast earnings growth (18.5% per year) is above the savings rate (0%).

Earnings vs Market: 6866's earnings (18.5% per year) are forecast to grow faster than the JP market (17.5% per year).

High Growth Earnings: 6866's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6866's revenue (7.9% per year) is forecast to grow faster than the JP market (5.7% per year).

High Growth Revenue: 6866's revenue (7.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 6866's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Hioki E.E performed over the past 5 years?

6.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 6866 has high quality earnings.

Growing Profit Margin: 6866's current net profit margins (9.6%) are lower than last year (9.6%).


Past Earnings Growth Analysis

Earnings Trend: 6866's earnings have grown by 6.4% per year over the past 5 years.

Accelerating Growth: 6866's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 6866 had negative earnings growth (-5.7%) over the past year, making it difficult to compare to the Electronic industry average (-5.3%).


Return on Equity

High ROE: 6866's Return on Equity (8%) is considered low.


Next Steps

Financial Health

How is Hioki E.E's financial position?


Financial Position Analysis

Short Term Liabilities: 6866's short term assets (¥18.3B) exceed its short term liabilities (¥3.0B).

Long Term Liabilities: 6866's short term assets (¥18.3B) exceed its long term liabilities (¥1.4B).


Debt to Equity History and Analysis

Debt Level: 6866 is debt free.

Reducing Debt: 6866 has not had any debt for past 5 years.

Debt Coverage: 6866 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 6866 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Hioki E.E current dividend yield, its reliability and sustainability?

1.92%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 6866's dividend (1.92%) is higher than the bottom 25% of dividend payers in the JP market (1.26%).

High Dividend: 6866's dividend (1.92%) is low compared to the top 25% of dividend payers in the JP market (2.91%).


Stability and Growth of Payments

Stable Dividend: 6866's dividend payments have been volatile in the past 10 years.

Growing Dividend: 6866's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (39.5%), 6866's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

4.0yrs

Average board tenure


CEO

Takahiro Okazawa (52 yo)

no data

Tenure

Mr. Takahiro Okazawa serves as President at Hioki E.E. Corporation and served as its Chief Executive Officer until January 2021. Mr. Okazawa served as Senior Managing Executive Officer of Sales and Service...


Board Members

NamePositionTenureCompensationOwnership
Takahiro Okazawa
President & Directorno datano data0.14%
¥ 69.4m
Yoshikazu Suyama
CFO, MDno datano data0.14%
¥ 69.4m
Kunihisa Kubota
CTO, Executive Officer & Director3yrsno data0.029%
¥ 14.6m
Atsushi Mizuno
Director4yrsno data0.16%
¥ 80.4m
Sakuzo Nakatani
Independent Outside Director5.33yrsno data0.0073%
¥ 3.7m
Kazutoshi Hosoya
Directorno datano data0.31%
¥ 153.5m
Akira Yuba
Outside Corporate Auditor4.83yrsno datano data
Masayuki Takaki
Corporate Auditor3yrsno data0.044%
¥ 21.9m
Naoki Ogawa
Outside Corporate Auditorno datano datano data
Shigehiro Takeuchi
Corporate Auditor5.33yrsno datano data
Shigeru Tanaka
Independent Outside Director4yrsno datano data

4.0yrs

Average Tenure

64yo

Average Age

Experienced Board: 6866's board of directors are considered experienced (4 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

Hioki E.E. Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Hioki E.E. Corporation
  • Ticker: 6866
  • Exchange: TSE
  • Founded: 1935
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: JP¥49.848b
  • Shares outstanding: 13.64m
  • Website: https://www.hioki.co.jp

Number of Employees


Location

  • Hioki E.E. Corporation
  • 81 Koizumi
  • Ueda
  • Nagano
  • 386-1192
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6866TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJul 1992

Biography

Hioki E.E. Corporation, together with its subsidiaries, develops, manufactures, sells, and services electrical measuring instruments worldwide. The company offers automatic test equipment for testing of el...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/27 08:16
End of Day Share Price2021/02/26 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.