Murata Manufacturing Co., Ltd.

6981.T · Technology · Electronic Components · 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

15.62B USD

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

Profit

13.24B USD

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

FCFF

18.35B USD

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

Average Intrinsic Value

15.74B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

72.50B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.22×

the ratio the screener ranks by

Margin of Safety

-360.7%

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: 15.62B 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)11.72B USD
+②Net Cash Today3.90B USD
+③Growth Value0 USD
=Value15.62B USD

EPV of the Operations (NOPAT over WACC)

11.72B USD

Net cash today

+3.90B USD

Growth Value

0 USD

Value

15.62B USD

①EPV (Earnings Power Value)

11.72B USD

②Net Cash Today

3.90B USD

③Growth Value

0 USD

Market value

Market Cap72.50B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-364.2%

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): 13.24B 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 FCFE9.02B USD
+②Equity at Year 15, Today4.22B USD
=Value13.24B 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

9.02B USD

②Equity at Year 15, Today

4.22B USD

Market value

Market Cap72.50B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-447.4%

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): 18.35B 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).
①Present Value of the 15 Years of FCFF11.30B USD
+②Invested Capital at Year 15, Today3.15B USD
+③Net Cash Today3.90B USD
=Value18.35B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

11.30B USD

②Invested Capital at Year 15, Today

3.15B USD

③Net Cash Today

3.90B USD

Market value

Market Cap72.50B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-295.2%

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: 11.66%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.20×Market Risk Premium 6.00%= 11.70%

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 468.82M USDPretax Income 1.93B USD= 24.26%

The tax the interest saves.

Interest Expense =EBIT 1,952.84M USD−Pretax Income 1,932.87M USD= 19.97M USD

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

Cost of Debt =Interest Expense 19.97M USDTotal Debt 349.25M USD×(1 − Tax Rate for WACC 24.26%)= 4.33%

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

Debt Weight =Total Debt 349.25M USDMarket Cap + Total Debt 72.50B USD + 349.25M USD= 0.48%

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

WACC =Equity Weight 99.52%×Cost of Equity 11.70%+Debt Weight 0.48%×Cost of Debt 4.33%= 11.66%

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 20.03B USD − Total Liabilities 3.01B USD = Book Value Today 17.02B USD

Total Debt 349.25M USD − Cash and Short-Term Investments 4.25B USD = Net Debt Today -3.90B 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 − 1-3.6%at most 5%passes1,820,292,151 / 1,889,233,361
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets6.0%at least -10.0%passes(2.66B USD − 1.46B USD) ÷ 20.03B USD
Price to bookMarket Cap ÷ Book Value Today4.26×at most 3×does not pass72.50B USD ÷ 17.02B USD
Operating marginOperating Income ÷ Revenue15.4%above 10.0%passes1.76B USD ÷ 11.47B USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-1.7%above 10.0%does not pass11.47B USD / 11.66B USD
Net cash(Cash − Total Debt) ÷ Market Cap5.2%above -30%passes(4.09B USD − 349.25M USD) ÷ 72.50B USD
Operating efficiencyOperating Income ÷ Gross Profit36.4%above 25.0%passes1.76B USD ÷ 4.85B USD

Market Data

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

Share price

6281.27 JPY

Enterprise value

10.93T JPY

the provider's own figure

EV / EBITDA

19.82×

Price / book

4.14×

the provider's book

Price / earnings

49.16×

Return on equity

10.1%

the provider's figure, not this page's

Profit margin

13.9%

Revenue growth

20.7%

Analyst target, mean

10713.48 JPY

Analysts

18

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

12.68B10.84B11.66B11.47B

Gross profit

5.06B4.21B4.80B4.85B

Operating income

2.20B1.42B1.87B1.76B

EBITDA

operating income before depreciation and amortisation

3.56B2.77B3.23B3.07B

Pretax income

2.27B1.58B2.04B1.93B

Net income

1.83B1.20B1.56B1.46B

Normalized income

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

1.83B1.20B1.56B1.46B

R&D

936.81M875.82M998.71M994.92M
Balance sheet, year end (USD)2023202420252026

Total assets

21.48B20.08B20.26B20.03B

Total liabilities

3.75B3.19B3.00B3.01B

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

17.74B16.90B17.27B17.03B

Total debt

1.17B700.25M401.38M349.25M

Cash and equivalents

3.53B4.11B4.18B4.09B

Net PP&E

fixed assets after depreciation

8.99B8.22B8.35B8.52B

Working capital

current assets less current liabilities

8.34B7.81B8.17B7.92B
Cash flow (USD)2023202420252026

Operating cash flow

2.09B3.24B3.02B2.66B

Capital expenditure

paid out, so below zero

-1.48B-1.56B-1.29B-1.58B

Depreciation and amortisation

1.27B1.16B1.16B1.12B

Free cash flow

operating cash flow plus capital expenditure

601.77M1.68B1.73B1.08B