Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €43.00, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 37x in the Semiconductor industry in Germany. Total returns to shareholders of 137% over the past year. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €42.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 36x in the Semiconductor industry in Germany. Total returns to shareholders of 143% over the past year. Duyuru • Jul 07
Ferrotec Corporation to Report Q1, 2027 Results on Aug 14, 2026 Ferrotec Corporation announced that they will report Q1, 2027 results on Aug 14, 2026 New Risk • Jun 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €50.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 44x in the Semiconductor industry in Germany. Total returns to shareholders of 227% over the past year. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €42.20, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 43x in the Semiconductor industry in Germany. Total returns to shareholders of 177% over the past year. Board Change • May 20
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Yuko Katsuta was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • May 18
Ferrotec Corporation, Annual General Meeting, Jun 26, 2026 Ferrotec Corporation, Annual General Meeting, Jun 26, 2026. Duyuru • May 10
Ferrotec Corporation to Report Fiscal Year 2026 Results on May 15, 2026 Ferrotec Corporation announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 15, 2026 Duyuru • Jan 06
Ferrotec Corporation to Report Q3, 2026 Results on Feb 12, 2026 Ferrotec Corporation announced that they will report Q3, 2026 results on Feb 12, 2026 Duyuru • Oct 30
Ferrotec Corporation to Report Q2, 2026 Results on Nov 14, 2025 Ferrotec Corporation announced that they will report Q2, 2026 results on Nov 14, 2025 Duyuru • Jun 29
Ferrotec Holdings Corporation to Report Q1, 2026 Results on Aug 14, 2025 Ferrotec Holdings Corporation announced that they will report Q1, 2026 results on Aug 14, 2025 Duyuru • May 15
Ferrotec Holdings Corporation, Annual General Meeting, Jun 27, 2025 Ferrotec Holdings Corporation, Annual General Meeting, Jun 27, 2025. Duyuru • Mar 27
Ferrotec Holdings Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Ferrotec Holdings Corporation announced that they will report fiscal year 2025 results on May 15, 2025 Duyuru • Jan 23
Ferrotec Holdings Corporation to Report Q3, 2025 Results on Feb 14, 2025 Ferrotec Holdings Corporation announced that they will report Q3, 2025 results on Feb 14, 2025 Duyuru • Nov 14
Ferrotec Holdings Corporation (TSE:6890) announces an Equity Buyback for 200,000 shares, representing 0.43% for ¥500 million. Ferrotec Holdings Corporation (TSE:6890) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 0.43% of its issued share capital (excluding treasury stock) for ¥500 million. The purpose of the program is to improve capital efficiency and return profits to shareholders. The program will be valid till March 31, 2025. As of September 30, 2024, the company had 47,018,542 shares outstanding and 99,407 treasury shares. Duyuru • Sep 27
Ferrotec Holdings Corporation to Report Q2, 2025 Results on Nov 14, 2024 Ferrotec Holdings Corporation announced that they will report Q2, 2025 results on Nov 14, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to €11.00, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Semiconductor industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €9.17 per share. New Risk • Aug 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (6.8% net profit margin). Duyuru • Jul 23
Ferrotec Holdings Corporation to Report Q1, 2025 Results on Aug 14, 2024 Ferrotec Holdings Corporation announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • May 20
Full year 2024 earnings released: EPS: JP¥323 (vs JP¥645 in FY 2023) Full year 2024 results: EPS: JP¥323 (down from JP¥645 in FY 2023). Revenue: JP¥222.4b (up 5.5% from FY 2023). Net income: JP¥15.2b (down 49% from FY 2023). Profit margin: 6.8% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Duyuru • May 17
Ferrotec Holdings Corporation, Annual General Meeting, Jun 27, 2024 Ferrotec Holdings Corporation, Annual General Meeting, Jun 27, 2024. Duyuru • Apr 19
Ferrotec Holdings Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Ferrotec Holdings Corporation announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: JP¥108 (vs JP¥166 in 3Q 2023) Third quarter 2024 results: EPS: JP¥108 (down from JP¥166 in 3Q 2023). Revenue: JP¥62.8b (up 7.9% from 3Q 2023). Net income: JP¥5.07b (down 35% from 3Q 2023). Profit margin: 8.1% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. New Risk • Jan 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.4% 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 Risks Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (10% net profit margin). Duyuru • Jan 19
Ferrotec Holdings Corporation to Report Q3, 2024 Results on Feb 14, 2024 Ferrotec Holdings Corporation announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 19
Second quarter 2024 earnings released: EPS: JP¥86.14 (vs JP¥188 in 2Q 2023) Second quarter 2024 results: EPS: JP¥86.14 (down from JP¥188 in 2Q 2023). Revenue: JP¥53.2b (down 1.6% from 2Q 2023). Net income: JP¥4.04b (down 53% from 2Q 2023). Profit margin: 7.6% (down from 16% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Semiconductor industry in Germany. New Risk • Nov 19
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: 10% Last year net profit margin: 15% 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. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (10% net profit margin). Duyuru • Oct 25
Ferrotec Holdings Corporation to Report Q2, 2024 Results on Nov 14, 2023 Ferrotec Holdings Corporation announced that they will report Q2, 2024 results on Nov 14, 2023 Board Change • Oct 19
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 10 new directors. No experienced directors. 2 highly experienced directors. 3 independent directors (6 non-independent directors). President, Group CEO & Representative Director Xian Han He is the most experienced director on the board, commencing their role in 2001. Independent Outside Director Masaru Tamagawa was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 
