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Ibiden manufactures ceramic substrates, IC packages, and printed wiring boards critical for semiconductor packaging and AI accelerators.
Snapshot
| Country |
JPN
|
| Exchange | Tokyo |
| AI Layer |
chips
|
| Category |
2.30 Advanced Semiconductor Packaging & Optical Interconnects
|
| Sentiment |
62.0% |
| USD Mkt Cap | 35.76B |
| USD Revenue | 2.87B |
| USD Net Income | 448.12M |
| P/E | 90.91 |
| fwd P/E | 63.31 |
| PEG | 0.46 |
| Price 3M | +1.5% |
| Price 6M | +147.5% |
| Price 1Y | +365.0% |
| Price 2Y | +808.7% |
| USD Share Price | 126.17 |
Price & Size
| Price |
19,560.00 JPY |
| Market Cap |
5.50T JPY |
| Shares Outstanding |
281.10M |
| Shares Float |
260.58M |
| 52w Low |
3,919.50 JPY |
| 52w High |
27,480.00 JPY |
| Avg Volume |
8.62M |
Valuation
| P/E (trailing) |
90.9x |
| P/E (forward) |
63.3x |
| P/B |
9.59x |
| Enterprise Value |
5.32T JPY |
| Book Value / Share |
2,039.24 JPY |
| PEG Ratio |
0.46x |
| P/S |
12.44x |
| EV / Revenue |
12.03x |
| EV / EBITDA |
38.05x |
Income
| Revenue |
441.96B JPY |
| Revenue / Share |
1,582.48 JPY |
| EBITDA |
139.69B JPY |
| Net Income |
68.90B JPY |
| EPS (trailing) |
215.16 JPY |
| EPS (forward) |
308.96 JPY |
Margins & Profitability
| Gross Margin |
32.0% |
| Operating Margin |
21.1% |
| Profit Margin |
15.6% |
| EBITDA Margin |
31.6% |
| Return on Equity |
12.7% |
| Return on Assets |
4.0% |
Growth
| Revenue Growth |
26.4% |
| Earnings Growth |
41.7% |
Cash & Debt
| Total Cash |
373.37B JPY |
| Total Debt |
185.30B JPY |
| Free Cash Flow |
65.14B JPY |
| Operating Cash Flow |
192.74B JPY |
| Debt / Equity |
0.32x |
| Current Ratio |
1.83x |
| Quick Ratio |
1.52x |
Dividend
| Rate |
20.00 JPY |
| Yield |
0.1% |
| Payout Ratio |
11.6% |
| Ex-Date |
2026-09-29 |
Analyst Consensus
| Target (Mean) |
24,700.00 JPY |
| Target (Median) |
26,550.00 JPY |
| Target (High) |
30,000.00 JPY |
| Target (Low) |
10,500.00 JPY |
| Recommendation |
buy |
| # Analysts |
16 |
Identifiers
| ISIN | JP3143000002 |
| FIGI | BBG000BG1XQ9 |
| SEDOL | 6451106 |
Sentiment 62.0%
as of Sep 12, 2026
Positive drivers
Strong demand for advanced IC substrates driven by AI accelerator production from major clients like NVIDIA and AMD boosted revenue forecasts. Ibiden announced capacity expansions in Japan and Southeast Asia to meet growing semiconductor packaging needs. Positive analyst upgrades highlighted the company's technological edge in high-density interconnects for next-gen AI chips.
Neutral / mixed
Global semiconductor cycle remains volatile with mixed signals from memory and logic segments affecting overall visibility. Currency fluctuations between JPY and USD created hedging uncertainties for export-oriented earnings. Ongoing R&D investments in new materials showed promise but have not yet translated into immediate commercial wins.
Negative drivers
Rising competition from Taiwanese and Korean substrate manufacturers pressured margins in the mid-range product lines. Supply chain disruptions from raw material shortages in ceramics slightly delayed deliveries during the period. Macroeconomic concerns over potential AI capex slowdowns in hyperscale data centers weighed on near-term sentiment.
Bottom line
Sentiment for Ibiden remains moderately positive on the back of AI-driven structural demand, tempered by competitive and cyclical headwinds. The company is well-positioned for long-term growth in the AI ecosystem but faces execution risks in the short term.