OTCPK:LSRC.F

Stock Analysis Report

Executive Summary

Lasertec Corporation develops, manufactures, sells, and services semiconductor-related equipment, energy efficiency and environment products, laser microscopes, and flat panel display-related equipment worldwide.

Rewards

Earnings are forecast to grow 23.37% per year

Earnings grew by 24.1% over the past year

Risk Analysis

No risks detected for LSRC.F from our risk checks.


Snowflake Analysis

Flawless balance sheet with outstanding track record.

Share Price & News

How has Lasertec's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: LSRC.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

LSRC.F

1.6%

US Semiconductor

0.8%

US Market


1 Year Return

n/a

LSRC.F

50.9%

US Semiconductor

25.1%

US Market

Return vs Industry: Insufficient data to determine how LSRC.F performed against the US Semiconductor industry.

Return vs Market: Insufficient data to determine how LSRC.F performed against the US Market.


Shareholder returns

LSRC.FIndustryMarket
7 Day0%1.6%0.8%
30 Day0%3.2%3.1%
90 Dayn/a20.2%10.9%
1 Yearn/a53.9%50.9%27.7%25.1%
3 Yearn/a92.1%81.5%51.3%41.6%
5 Yearn/a158.2%132.9%77.2%57.6%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

81.62x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: LSRC.F ($64.3) is trading above our estimate of fair value ($38.92)

Significantly Below Fair Value: LSRC.F is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: LSRC.F is poor value based on its PE Ratio (81.6x) compared to the Semiconductor industry average (34.5x).

PE vs Market: LSRC.F is poor value based on its PE Ratio (81.6x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: LSRC.F is poor value based on its PEG Ratio (3.5x)


Price to Book Ratio

PB vs Industry: LSRC.F is overvalued based on its PB Ratio (16.3x) compared to the US Semiconductor industry average (3.3x).


Next Steps

Future Growth

How is Lasertec forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

23.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LSRC.F's forecast earnings growth (23.4% per year) is above the savings rate (1.7%).

Earnings vs Market: LSRC.F's earnings (23.4% per year) are forecast to grow faster than the US market (14.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: LSRC.F's revenue (17.3% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: LSRC.F's revenue (17.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LSRC.F's Return on Equity is forecast to be high in 3 years time (34.7%)


Next Steps

Past Performance

How has Lasertec performed over the past 5 years?

17.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LSRC.F has high quality earnings.

Growing Profit Margin: LSRC.F's current net profit margins (21.8%) are higher than last year (20%).


Past Earnings Growth Analysis

Earnings Trend: LSRC.F's earnings have grown by 17.5% per year over the past 5 years.

Accelerating Growth: LSRC.F's earnings growth over the past year (24.1%) exceeds its 5-year average (17.5% per year).

Earnings vs Industry: LSRC.F earnings growth over the past year (24.1%) exceeded the Semiconductor industry -15.8%.


Return on Equity

High ROE: LSRC.F's Return on Equity (20%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Lasertec's financial position?


Financial Position Analysis

Short Term Liabilities: LSRC.F's short term assets (¥44.9B) exceed its short term liabilities (¥23.9B).

Long Term Liabilities: LSRC.F's short term assets (¥44.9B) exceed its long term liabilities (¥539.0M).


Debt to Equity History and Analysis

Debt Level: LSRC.F is debt free.

Reducing Debt: LSRC.F had no debt 5 years ago.

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

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


Balance Sheet

Inventory Level: LSRC.F has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if LSRC.F's debt is covered by short term assets.


Next Steps

Dividend

What is Lasertec's current dividend yield, its reliability and sustainability?

0.70%

Current Dividend Yield


Dividend Yield vs Market

company0.7%marketbottom25%1.4%markettop25%3.7%industryaverage2.0%forecastin3Years1.2%

Current dividend yield vs market & industry

Notable Dividend: LSRC.F's dividend (0.7%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.4%).

High Dividend: LSRC.F's dividend (0.7%) is low compared to the top 25% of dividend payers in the US market (3.66%).


Stability and Growth of Payments

Stable Dividend: LSRC.F is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: LSRC.F is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: LSRC.F is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LSRC.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Lasertec's salary, the management and board of directors tenure and is there insider trading?

10.4yrs

Average management tenure


CEO

Osamu Okabayashi (61yo)

10.4yrs

Tenure

JP¥146,000,000

Compensation

Mr. Osamu Okabayashi has been the President of Lasertec Corporation since July 2009. Mr. Okabayashi served as Managing Director of Lasertec Korea Corporation since September 2005. He served as the Presiden ...


CEO Compensation Analysis

Compensation vs Market: Osamu's total compensation ($USD1.34M) is below average for companies of similar size in the US market ($USD4.99M).

Compensation vs Earnings: Osamu's compensation has been consistent with company performance over the past year.


Management Age and Tenure

10.4yrs

Average Tenure

59yo

Average Age

Experienced Management: LSRC.F's management team is seasoned and experienced (10.4 years average tenure).


Board Age and Tenure

9.3yrs

Average Tenure

61.5yo

Average Age

Experienced Board: LSRC.F's board of directors are considered experienced (9.3 years average tenure).


Insider Trading

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.


Management Team

  • Shu Uchiyama (53yo)

    GM of Administrative Division

    • Tenure: 12.3yrs
  • Haruhiko Kusunose (61yo)

    CTO, Executive VP & Representative Director

    • Tenure: 10.3yrs
    • Compensation: JP¥125.20m
  • Osamu Okabayashi (61yo)

    President & Representative Director

    • Tenure: 10.4yrs
    • Compensation: JP¥146.00m
  • Koichi Moriizumi (59yo)

    Chief Sales Officer

    • Tenure: 7.3yrs
  • Hirokazu Seki (44yo)

    GM of Tech Dept 6 – Tech Div & of Solution Sales Dept 1 - Sales Div and Director

    • Tenure: 4.3yrs

Board Members

  • Shu Uchiyama (53yo)

    GM of Administrative Division

    • Tenure: 12.3yrs
  • Haruhiko Kusunose (61yo)

    CTO, Executive VP & Representative Director

    • Tenure: 10.3yrs
    • Compensation: JP¥125.20m
  • Osamu Okabayashi (61yo)

    President & Representative Director

    • Tenure: 10.4yrs
    • Compensation: JP¥146.00m
  • Nobuhiko Kajikawa (74yo)

    Outside Director

    • Tenure: 10.3yrs
  • Takayuki Shimoyama (73yo)

    Outside Director

    • Tenure: 9.3yrs
  • Minoru Ebihara (73yo)

    Outside Director

    • Tenure: 9.3yrs
  • Koichi Moriizumi (59yo)

    Chief Sales Officer

    • Tenure: 7.3yrs
  • Yuji Saito (72yo)

    External Audit & Supervisory Board Member

    • Tenure: 7.3yrs
  • Hirokazu Seki (44yo)

    GM of Tech Dept 6 – Tech Div & of Solution Sales Dept 1 - Sales Div and Director

    • Tenure: 4.3yrs
  • Takeaki Tsukasaki (62yo)

    Audit & Supervisory Board Member

    • Tenure: 3.2yrs

Company Information

Lasertec Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Lasertec Corporation
  • Ticker: LSRC.F
  • Exchange: OTCPK
  • Founded: 1960
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: JP¥501.390b
  • Listing Market Cap: JP¥4.606b
  • Shares outstanding: 90.18m
  • Website: https://www.lasertec.co.jp

Number of Employees


Location

  • Lasertec Corporation
  • 2-10-1 Shin-yokohama
  • Kohoku-ku
  • Yokohama
  • Kanagawa
  • 222-8552
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6920TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
LSRC.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992

Biography

Lasertec Corporation develops, manufactures, sells, and services semiconductor-related equipment, energy efficiency and environment products, laser microscopes, and flat panel display-related equipment worldwide. The company provides systems used to inspect and measure defects on semiconductor photomasks and wafers; wafer inspection and measurement equipment, such as lithography process inspection systems and coating thickness non-uniformity inspection systems; transparent object inspection systems and SiC wafer inspection and review systems, which have applications in electric power systems, railway equipment, office equipment, and consumer equipment; and LiB application systems. It also offers flat panel display photomask inspection systems; and laser microscopes, which are used for the observation and analysis of various materials and components comprising semiconductor materials, transparent films, coating materials, inorganic and organic materials, biological samples, metal parts, and plastic components. The company was formerly known as NJS Corporation and changed its name to Lasertec Corporation in 1986. Lasertec Corporation was founded in 1960 and is headquartered in Yokohama, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/30 23:56
End of Day Share Price2019/10/02 00:00
Earnings2019/09/30
Annual Earnings2019/06/30


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.