Market cap ¥4.38TNext earnings 2026-11-02Updated Oct 24, 2026 · valuation updating
Our verdict
No fair value
We are missing the financial data our models need for this company. It will appear once the data arrives.
Not valued: there are no financial statements on file yet.
ACCE opinionKyocera Corporation (6971.T)
Fair value
Not available
ACCE price target
¥2864
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ¥3457 at the close on 23 Oct 2026, 08:30 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
69
out of 100
P/E
33.7x
forward 38.6x
1-year return
+63.2%
Dividend yield
1.59%
Kyocera Corporation in four questions
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Overview
ACCE thesis
Kyocera makes fine ceramic components, semiconductor packages, cutting tools, and printers and document equipment, with a large share of its profit coming from ceramic parts used in electronics and semiconductor equipment. The moat sits in materials science and manufacturing scale: its engineered ceramics are specified into products where replacing a supplier means requalifying the part, which keeps customers sticky. Revenue growth of 9.9% is running ahead of the company's historical pace, and the 29.9% gross margin and 9.3% operating margin reflect a mix that has been moving toward higher-value components. The stock trades at 34.6 times trailing earnings and 39.3 times forward, so the market is already paying up for a recovery in semiconductor and electronics demand, and the return on equity of 5.1% shows how much of the balance sheet is still earning below the multiple's implied bar. It is a name worth a deeper look to test whether margin expansion can justify that multiple.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Price above ACCE target
Shares trade 20.7% above the ACCE price target of ¥2864.00 (last updated 2026-10-22), with the price at ¥3457.00. Valuation is stretched on P/E 34.3 and forward P/E 39.3.
moderate
Quarter-on-quarter revenue dip
Revenue fell 4.2% QoQ even though year-on-year growth is 9.9%, so the latest quarter is softer than the trend. Watch whether the next print confirms it.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Latest earnings per share beat expectations by 75.1%, with EPS of 46.20 against 26.38 expected.
Free cash flow over the last 12 months reached JPY 123.1B, showing the business generates real cash.
Debt is light, with debt to equity at 0.10, leaving room to absorb a downturn.
Why it could disappoint
At 39.3x forward earnings the shares look expensive, while return on equity of 5.1% is thin for that price.
The share price of ¥3457.00 sits 20.7% above the ACCE price target of ¥2864.00.
Revenue grew only 9.9% year over year, well below the 34.2% five-year average annual pace.
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