The Hanshin Diesel Works, Ltd.

6018.T · Industrials · Specialty Industrial Machinery · Valued as of 2026-11-03 · Statements 2026-03-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

75.73M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

67.40M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

97.90M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

80.34M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

120.65M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.67×

the ratio the screener ranks by

Margin of Safety

-50.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 75.73M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)45.44M USD
+②Net Cash Today30.29M USD
+③Growth Value0 USD
=Value75.73M USD

EPV of the Operations (NOPAT over WACC)

45.44M USD

Net cash today

+30.29M USD

Growth Value

0 USD

Value

75.73M USD

①EPV (earnings power value)

45.44M USD

②Net Cash Today

30.29M USD

③Growth Value

0 USD

Market value

Market Cap120.65M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-59.3%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 67.40M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE26.96M USD
+②Equity at Year 15, Today40.44M USD
=Value67.40M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment rising to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

26.96M USD

②Equity at Year 15, Today

40.44M USD

Market value

Market Cap120.65M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-79.0%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 97.90M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 97.90M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Cash Today

Not in the value

Market value

Market Cap120.65M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-23.2%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 7.97%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.58×Market Risk Premium 6.00%= 7.97%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 1.27M USDPretax Income 5.88M USD= 21.67%

The tax the interest saves.

Interest Expense =EBIT 5.89M USD−Pretax Income 5.88M USD= —

The interest the company paid: EBIT is the profit before tax plus the interest.

No interest is read: it needs debt and an EBIT above the profit before tax, the gap between them being the interest. Without it the cost of debt takes the 4% default.

Cost of Debt 4.00% (default): with no debt or no interest read, the 4% default after tax stands for what the lenders are paid a year.

Debt Weight =Total Debt 0 USDMarket Cap + Total Debt 120.65M USD + 0 USD= 0.00%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 100.00%×Cost of Equity 7.97%+Debt Weight 0.00%×Cost of Debt 4.00%= 7.97%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-03-31.

Total Assets 161.56M USD − Total Liabilities 63.66M USD = Book Value Today 97.90M USD

Total Debt 0 USD − Cash and Short-Term Investments 30.29M USD = Net Debt Today -30.29M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.2%at most 5%passes3,241,864 / 3,235,066
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-1.2%at least -10.0%passes(2.59M USD − 4.61M USD) ÷ 161.56M USD
Price to bookMarket Cap ÷ Book Value Today1.23×at most 3×passes120.65M USD ÷ 97.90M USD
Operating marginOperating Income ÷ Revenue5.9%above 10.0%does not pass5.16M USD ÷ 87.85M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-1.5%above 10.0%does not pass87.85M USD / 89.23M USD
Net cash(Cash − Total Debt) ÷ Market Cap24.1%above -30%passes(29.03M USD − 0 USD) ÷ 120.65M USD
Operating efficiencyOperating Income ÷ Gross Profit28.1%above 25.0%passes5.16M USD ÷ 18.34M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

5835.83 JPY

Enterprise value

14.46B JPY

the provider's own figure

EV / EBITDA

9.24×

Price / book

1.20×

the provider's book

Price / earnings

23.51×

Return on equity

5.3%

the provider's figure, not this page's

Profit margin

5.8%

Revenue growth

-1.9%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2023202420252026
Income statement

Revenue

68.12M63.70M89.23M87.85M

Gross profit

16.39M14.17M16.20M18.34M

Operating income

4.14M3.64M4.09M5.16M

EBITDA

operating income before depreciation and amortisation

6.68M6.66M7.51M9.51M

Pretax income

4.40M4.25M4.60M5.88M

Net income

3.06M3.01M3.59M4.61M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

3.14M3.00M3.54M4.60M

R&D

————
Balance sheet, year end

Total assets

157.70M150.38M167.26M161.56M

Total liabilities

53.59M55.10M68.27M63.66M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

104.11M95.29M98.99M97.90M

Total debt

————

Cash and equivalents

42.23M32.38M36.59M29.03M

Net PP&E

fixed assets after depreciation

58.61M55.49M57.06M52.75M

Working capital

current assets less current liabilities

54.75M41.03M40.43M40.16M
Cash flow

Operating cash flow

8.85M7.30M10.65M2.59M

Capital expenditure

paid out, so below zero

-4.35M-5.90M-4.05M-3.78M

Depreciation and amortisation

2.28M2.40M2.91M3.62M

Free cash flow

operating cash flow plus capital expenditure

4.50M1.40M6.60M-1.19M