Hello my dears,
I have a short presentation from Japan for Friday afternoon.
The value has already been posted here by our dear @PikaPika0105 posted here. So best regards, my dear.
As always, we look forward to your comments.
MARUWA Co Ltd is a Japan-based company principally engaged in the manufacture and sale of ceramic components, including electronic components, and lighting equipment. The company operates in two segments. The Ceramic Components segment manufactures and sells electronic components, ceramic substrates and semiconductor manufacturing products. The Lighting Equipment segment is engaged in the manufacture and sale of lighting equipment that utilizes light-emitting diodes (LEDs) in addition to conventional lighting equipment. The company is also active in the area of supporting foundation activities.
Sales breakdown by business segment:
2025 (USD)
Ceramic Component 62.49 billion
Lighting Equiqment 9.4 billion
Unallocated Adjustment -45 million
Geographical distribution of sales:
2025 (USD)
China 31.22 bn
Others 20.71 bn
Japan 19.92 bn
Juan conclusion on the key financial figures (Maruwa 2025-2028)
Here is the short, crisp Juan summary in hoodie style:
Maruwa delivers a strong but volatile pulsating growth profile. Turnover and earnings are rising cleanly over the entire period, with two clear turbo years in 2027 and 2028. margins remain impressively highespecially the EBITDA margin, which rises above the 50% mark by 2028 - that is absolute premium class.
EBIT and net income show a small dip in 2026, but the rebound in 2027/28 is massive.
The free cash flow fluctuates strongly, but remains positive in the long term and really picks up again from 2027.
The Net debt is negative and continues to grow into the cash-net cushion - a luxury problem that provides stability and strategic flexibility.
ROE remains solidly in double digitsEPS is growing dynamically and confirms operational strength.
In short: Maruwa is a highly profitable quality compounder with temporary fluctuations but a clear upward trend. The combination of margin power, cash-net position and rising earnings makes the setup extremely attractive in the long term.
Juan's conclusion on the valuation ratios (Maruwa 2025-2028)
(based on your currently open MarketScreener tab)
Here is the crisp hoodie conclusion on the valuation ratios:
Maruwa looks like a premium stock just entering a more expensive valuation zone. The P/E ratio will rise significantly from 2026because earnings will not grow at the same pace as the share price in the short term. In 2027/28, the level remains high, but not excessive - rather "quality at a price".
The PEG trajectory is exciting2025 still extremely attractive, 2026 distorted by the decline in profits, from 2027 back in the green zone. This signals: The valuation will normalize as soon as earnings growth returns.
FCF yield is volatilebut positive in the long term. 2026 is a downward outlier, after which the cash yield will stabilize again.
The dividend per share rises cleanly throughbut the dividend yield remains minimalbecause the share price has performed strongly. Classic quality stock: distribution grows, yield remains low.
In short: Maruwa is a high quality, high growth stock currently trading at a premium multiple. The valuation is ambitious, but well underpinned by margin strength, cash power and rising EPS. Absolutely right for long-term quality investors.
Performance
1 week +7.61 %
1 month +20.45 %
6 months +76.30 %
1 year + 110.42 %
$5344 (-5,83 %) Price 402.00€ 15.05.2026 at 16:05
