Kaga Electronics Co.,Ltd.

8154.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

2.61B USD

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

Profit

1.88B USD

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

FCFF

1.15B USD

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

Average Intrinsic Value

1.88B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.62B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.16×

the ratio the screener ranks by

Margin of Safety

+13.6%

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: 2.61B 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)2.35B USD
+②Net Cash Today59.36M USD
+③Growth Value207.50M USD
=Value2.61B USD

EPV of the Operations (NOPAT over WACC)

2.35B USD

Net cash today

+59.36M USD

Growth Value

+207.50M USD

Value

2.61B USD

①EPV (earnings power value)

2.35B USD

②Net Cash Today

59.36M USD

③Growth Value

207.50M USD

Market value

Market Cap1.62B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+37.8%

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): 1.88B 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 FCFE1.12B USD
+②Equity at Year 15, Today754.68M USD
=Value1.88B 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 falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

1.12B USD

②Equity at Year 15, Today

754.68M USD

Market value

Market Cap1.62B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+13.4%

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): 1.15B 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, 1.15B 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 Cap1.62B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-41.4%

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: 5.85%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.48×Market Risk Premium 6.00%= 7.40%

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 57.69M USDPretax Income 252.85M USD= 22.82%

The tax the interest saves.

Interest Expense =EBIT 258.55M USD−Pretax Income 252.85M USD= 5.70M USD

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

Cost of Debt =Interest Expense 5.70M USDTotal Debt 503.31M USD×(1 − Tax Rate for WACC 22.82%)= 0.87%

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

Debt Weight =Total Debt 503.31M USDMarket Cap + Total Debt 1.62B USD + 503.31M USD= 23.65%

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

WACC =Equity Weight 76.35%×Cost of Equity 7.40%+Debt Weight 23.65%×Cost of Debt 0.87%= 5.85%

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 2.53B USD − Total Liabilities 1.38B USD = Book Value Today 1.15B USD

Total Debt 503.31M USD − Cash and Short-Term Investments 562.66M USD = Net Debt Today -59.36M 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 − 1-9.3%at most 5%passes47,659,032 / 52,535,148
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-8.3%at least -10.0%passes(-15.47M USD − 194.76M USD) ÷ 2.53B USD
Price to bookMarket Cap ÷ Book Value Today1.41×at most 3×passes1.62B USD ÷ 1.15B USD
Operating marginOperating Income ÷ Revenue4.2%above 10.0%does not pass174.25M USD ÷ 4.13B USD
Revenue growthRevenue ÷ Revenue a Year Before − 112.6%above 10.0%passes4.13B USD / 3.66B USD
Net cash(Cash − Total Debt) ÷ Market Cap3.6%above -30%passes(561.78M USD − 503.31M USD) ÷ 1.62B USD
Operating efficiencyOperating Income ÷ Gross Profit32.6%above 25.0%passes174.25M USD ÷ 534.50M USD

Market Data

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

Share price

5345.34 JPY

Enterprise value

227.10B JPY

the provider's own figure

EV / EBITDA

6.42×

Price / book

1.33×

the provider's book

Price / earnings

8.51×

Return on equity

18.7%

the provider's figure, not this page's

Profit margin

4.8%

Revenue growth

23.4%

Analyst target, mean

6006.00 JPY

Analysts

1

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

4.57B3.59B3.66B4.13B

Gross profit

590.03M465.68M479.47M534.50M

Operating income

242.35M170.83M157.90M174.25M

EBITDA

operating income before depreciation and amortisation

280.02M219.93M193.74M291.79M

Pretax income

243.94M185.73M158.62M252.85M

Net income

173.37M134.48M114.29M194.76M

Normalized income

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

174.86M124.32M109.03M144.26M

R&D

————
Balance sheet, year end

Total assets

2.15B1.90B2.05B2.53B

Total liabilities

1.18B896.07M931.93M1.38B

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

973.99M996.97M1.11B1.15B

Total debt

301.99M205.59M203.32M503.31M

Cash and equivalents

395.29M440.19M536.49M561.78M

Net PP&E

fixed assets after depreciation

151.49M166.14M190.31M198.04M

Working capital

current assets less current liabilities

886.95M924.23M933.05M920.11M
Cash flow

Operating cash flow

229.72M194.23M167.57M-15.47M

Capital expenditure

paid out, so below zero

-31.25M-38.03M-37.93M-28.48M

Depreciation and amortisation

30.47M28.32M29.97M33.23M

Free cash flow

operating cash flow plus capital expenditure

198.48M156.20M129.64M-43.95M