Chino Corporation

6850.T · Technology · Scientific & Technical Instruments · Valued as of 2026-11-04 · 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

201.45M USD

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

Profit

150.93M USD

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

FCFF

166.48M USD

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

Average Intrinsic Value

172.95M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

189.16M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.91×

the ratio the screener ranks by

Margin of Safety

-9.4%

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: 201.45M 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)166.19M USD
+②Net Cash Today34.01M USD
+③Growth Value1.25M USD
=Value201.45M USD

EPV of the Operations (NOPAT over WACC)

166.19M USD

Net cash today

+34.01M USD

Growth Value

+1.25M USD

Value

201.45M USD

①EPV (Earnings Power Value)

166.19M USD

②Net Cash Today

34.01M USD

③Growth Value

1.25M USD

Market value

Market Cap189.16M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+6.1%

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): 150.93M 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 FCFE79.69M USD
+②Equity at Year 15, Today71.24M USD
=Value150.93M 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

79.69M USD

②Equity at Year 15, Today

71.24M USD

Market value

Market Cap189.16M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-25.3%

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): 166.48M 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, 166.48M 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 Cap189.16M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-13.6%

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: 7.86%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.73×Market Risk Premium 6.00%= 8.89%

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 6.27M USDPretax Income 20.80M USD= 30.13%

The tax the interest saves.

Interest Expense =EBIT 20.99M USD−Pretax Income 20.80M USD= 181.61K USD

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

Cost of Debt =Interest Expense 181.61K USDTotal Debt 26.25M USD×(1 − Tax Rate for WACC 30.13%)= 0.48%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 26.25M USDMarket Cap + Total Debt 189.16M USD + 26.25M USD= 12.18%

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

WACC =Equity Weight 87.82%×Cost of Equity 8.89%+Debt Weight 12.18%×Cost of Debt 0.48%= 7.86%

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 257.44M USD − Total Liabilities 90.96M USD = Book Value Today 166.48M USD

Total Debt 26.25M USD − Cash and Short-Term Investments 60.25M USD = Net Debt Today -34.01M 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 − 1-1.5%at most 5%passes16,724,294 / 16,985,966
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets2.1%at least -10.0%passes(18.19M USD − 12.79M USD) ÷ 257.44M USD
Price to bookMarket Cap ÷ Book Value Today1.14×at most 3×passes189.16M USD ÷ 166.48M USD
Operating marginOperating Income ÷ Revenue10.2%above 10.0%passes20.21M USD ÷ 198.19M USD
Revenue growthRevenue ÷ Revenue a Year Before − 11.0%above 10.0%does not pass198.19M USD / 196.22M USD
Net cash(Cash − Total Debt) ÷ Market Cap18.0%above -30%passes(60.25M USD − 26.25M USD) ÷ 189.16M USD
Operating efficiencyOperating Income ÷ Gross Profit32.4%above 25.0%passes20.21M USD ÷ 62.34M USD

Market Data

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

Share price

1810.81 JPY

Enterprise value

26.75B JPY

the provider's own figure

EV / EBITDA

—

Price / book

1.29×

the provider's book

Price / earnings

15.02×

Return on equity

—

the provider's figure, not this page's

Profit margin

6.7%

Revenue growth

-9.1%

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.

Income statement (USD)2023202420252026

Revenue

178.80M181.28M196.22M198.19M

Gross profit

59.14M55.46M62.66M62.34M

Operating income

15.20M14.39M19.28M20.21M

EBITDA

operating income before depreciation and amortisation

23.27M23.60M27.04M26.64M

Pretax income

17.32M18.06M20.81M20.80M

Net income

11.54M11.61M13.32M12.79M

Normalized income

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

10.96M10.07M12.86M12.78M

R&D

6.66M7.56M7.31M6.79M
Balance sheet, year end (USD)2023202420252026

Total assets

272.71M241.46M252.66M257.44M

Total liabilities

110.59M88.18M85.19M90.96M

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

141.15M133.91M147.04M146.41M

Total debt

25.43M19.99M17.44M26.25M

Cash and equivalents

68.96M48.29M54.37M60.25M

Net PP&E

fixed assets after depreciation

41.92M40.71M41.27M40.62M

Working capital

current assets less current liabilities

118.98M110.60M119.61M124.35M
Cash flow (USD)2023202420252026

Operating cash flow

12.17M667.60K17.01M18.19M

Capital expenditure

paid out, so below zero

-4.29M-9.56M-5.57M-10.10M

Depreciation and amortisation

5.90M5.47M6.14M5.66M

Free cash flow

operating cash flow plus capital expenditure

7.88M-8.89M11.44M8.08M