ASAHI INTECC CO., LTD. AICLY

Health CareHealthcare Equipment & SuppliesJapan

Last close 18.70 USD on Nov 2, 2026, 0.0% year to date

Quant rating

Quant rating A Rank 17 of 211 in Health Care

Growth A 22 of 211
Valuation C 86 of 211
Quality A 5 of 211
Revisions A 12 of 211
Momentum C 139 of 211

Wall Street consensus Buy (2.14)Average target 28.18 USD +50.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 5.9B
Enterprise value: 5.6B
52-week range: 18.70 – 18.70
3-year range: 18.70 – 18.70
Dividend yield: 0.00%
Beta (5 years): –
Shares outstanding: 265M
Next earnings: Nov 13, 2026

About the company

Asahi Intecc Co Ltd is a Japan-based company mainly engaged in the development, manufacture and sale of products in the medical and industrial equipment fields. It operates through two business segments. The Medical Business segment develops and manufactures minimally invasive treatment products (treatment guidewires and catheters) primarily used for intravascular treatment and sells them to hospitals and other facilities primarily through direct sales in Japan, mostly through distributors in overseas, and primarily through direct sales in the United States, France, Germany, and Italy. The Device Business segment develops and manufactures components for the medical and industrial equipment fields and sells them to manufacturers both in Japan and overseas. Products are used as medical equipment in areas such as circulatory system, abdominal, peripheral and cerebrovascular systems, as well as industrial equipment in a wide range of fields, including leisure, construction and automobiles.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	895	833	669	624	573	–
Revenue growth	7.3%	24.6%	7.1%	9.0%	3.5%	10.1%
EPS (basic, normalized)	0.76	0.32	0.40	0.33	0.30	–
EPS growth	138.4%	−19.6%	19.2%	10.6%	–	–
Gross margin	70.4%	67.7%	64.2%	65.3%	65.7%	66.7%
Net margin	22.1%	10.6%	14.7%	14.5%	14.0%	15.2%
ROE	19.8%	8.4%	11.2%	10.4%	10.2%	12.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	395
Current ratio	3.78x
Long-term debt (mil)	38.8
Net debt (mil)	−333
Total equity (mil)	1,067
Net debt / equity	−0.31x
Net debt / EBITDA	−0.98x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	895	+7.3%	6.2x	339	+30.2%	16.5x	0.76	+138.4%	24.7x
2027	1,040	+16.3%	5.4x	394	+16.1%	14.2x	0.92	+21.3%	20.4x
2028	1,133	+8.9%	4.9x	432	+9.6%	12.9x	1.02	+11.1%	18.3x
2029	1,233	+8.8%	4.5x	473	+9.6%	11.8x	1.14	+11.3%	16.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	1,040	+1.3%	+4.3%	+7.4%	0.92	+2.3%	+9.3%	+18.1%
2028	1,133	+1.3%	+4.7%	+7.3%	1.02	+2.4%	+9.1%	+16.4%
2029	1,233	+0.6%	+5.9%	+8.2%	1.14	+1.4%	+11.3%	+20.7%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	26,392	26,814	31,184	30,307	30,324	28,210	36,058	35,208	37,100	37,053
Sales mean (mil)	25,148	26,055	28,753	28,502	29,079	28,020	32,810	32,476	34,901	34,816
Surprise	+4.9%	+2.9%	+8.5%	+6.3%	+4.3%	+0.7%	+9.9%	+8.4%	+6.3%	+6.4%
EPS reported	15.54	6.51	24.98	20.16	−12.88	14.66	34.37	30.17	35.57	20.46
EPS mean	15.03	7.59	21.39	18.36	19.92	10.22	25.72	23.66	28.00	18.17
Surprise	+3.4%	−14.2%	+16.8%	+9.8%	−164.7%	+43.4%	+33.6%	+27.5%	+27.0%	+12.6%

Peer comparison Healthcare Equipment & Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
AICLY ASAHI INTECC CO., LTD.	5.9B	−0.98x	22.1%	5.40x	20.4x	18.3x	14.2x	12.9x
CHEOY Cochlear Limited	6.5B	–	6.3%	5.30x	13.6x	12.4x	16.7x	15.4x
CNVVY ConvaTec Group PLC	6.3B	–	7.2%	4.50x	67.4x	59.0x	11.5x	10.4x
TFX Teleflex Incorporated	6.0B	3.99x	2.9%	2.05x	19.5x	12.9x	16.5x	13.8x
HAE Haemonetics Corp	5.5B	2.11x	7.3%	6.53x	22.6x	20.7x	14.9x	13.8x
STVN Stevanato Group SpA	5.4B	1.15x	11.8%	3.11x	28.8x	24.2x	15.3x	13.2x
Mean		1.57x	9.6%	4.48x	28.7x	24.6x	14.8x	13.2x
Median		1.63x	7.2%	4.90x	21.5x	19.5x	15.1x	13.5x

Technical analysis

1M–
3M0.0%
1Y0.0%
3Y0.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, ASAHI INTECC CO., LTD., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	895	833	669	624	573	554
Cost of revenue	264	269	239	217	196	180
Gross profit	630	564	429	408	376	373
Selling, general & administrative expenses	251	249	201	197	185	181
Research & development	82.3	85.0	72.5	67.4	65.3	67.7
Depreciation/amortization	18.8	20.8	18.3	17.9	13.6	9.6
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	12.4	75.9	1.2	−0.7	4.4	0.6
Other operating expenses	0	0	0	0	0	0
Operating income	266	133	136	126	108	115
Net interest income (expense)	8.9	−9.7	−2.4	−3.3	6.9	2.9
Gain (loss) on sale of assets	–	–	–	–	–	−0.7
Other non-operating income (expense)	0.3	6.3	1.5	0.6	1.1	1.4
Net income before taxes	275	130	135	123	116	118
Provision for taxes	77.2	40.7	36.6	31.0	34.9	28.3
Minority interest	−0.5	−0.4	−0.5	−1.2	−1.0	0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	197	88.5	98.3	90.8	80.0	89.9
Extraordinary items	–	–	–	–	–	–
Net income	197	88.5	98.3	90.8	80.0	89.9
EBIT, normalized	278	209	138	125	112	115
EBITDA, normalized	333	279	198	185	167	159
Basic EPS, normalized	0.76	0.32	0.40	0.33	0.30	–

Balance sheet in millions of USD, fiscal years

Balance sheet, ASAHI INTECC CO., LTD., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	395	376	240	256	238	192
Receivables	127	122	119	112	113	105
Total inventory	184	171	182	217	199	179
Prepaid expenses	–	–	–	–	–	–
Other current assets	41.8	48.6	47.3	40.5	36.4	74.0
Total current assets	748	718	589	625	587	550
Property, plant & equipment	388	410	374	372	336	367
Goodwill	–	0.8	43.0	53.6	60.4	22.9
Intangibles	31.5	38.1	62.5	73.7	82.2	33.4
Long-term investments	150	138	96.6	44.3	53.5	44.0
Note receivable	–	–	–	–	–	–
Other long-term assets	25.4	36.8	26.7	27.3	24.6	21.2
Total assets	1,343	1,341	1,191	1,196	1,143	1,039
Liabilities
Accounts payable	36.3	21.4	18.1	25.9	28.6	20.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	25.0	19.9	16.8	12.4	10.1	10.4
Short-term debt	0	0	6.2	51.7	13.3	27.4
Current portion of long-term debt	17.4	19.5	31.1	22.4	30.5	14.7
Other current liabilities	119	133	111	69.9	70.5	58.9
Total current liabilities	198	193	183	182	153	132
Long-term debt	38.8	60.5	16.1	38.2	54.5	40.1
Minority interest	5.9	5.5	4.6	13.8	12.3	0.2
Other liabilities	33.8	36.6	47.1	45.2	43.0	30.2
Total liabilities	276	296	251	279	263	203
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	116	131	117	131	139	114
Additional paid-in capital	116	151	135	151	160	140
Retained earnings (accumulated deficit)	686	680	564	546	508	551
Treasury stock	−0.1	−30.9	0	0	−0.1	−0.1
Other equity	149	114	123	89.1	72.7	32.0
Total equity	1,067	1,045	940	917	880	836
Total liabilities & shareholders' equity	1,343	1,341	1,191	1,196	1,143	1,039

Cash flow statement in millions of USD, fiscal years

Cash flow statement, ASAHI INTECC CO., LTD., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	275	130	135	123	116	118
Depreciation, depletion & amortization	54.9	70.4	60.4	60.4	55.1	43.4
Deferred taxes	–	–	–	–	–	–
Non-cash items	4.7	75.9	7.7	5.5	5.8	7.2
Changes in working capital	−85.1	5.7	12.2	−56.2	−49.3	−88.5
Cash from operations	249	282	216	133	127	80.3
Investing activities
Capital expenditures	−55.0	−59.6	−65.6	−88.1	−63.1	−103
Other investing cash flows	−17.3	−33.7	−66.4	−16.8	−74.7	−43.6
Cash from investing	−72.2	−93.3	−132	−105	−138	−147
Financing activities
Financing cash flow items	−64.9	−30.9	−8.4	0	0	0.5
Cash dividends paid	−40.2	−38.4	−24.5	−22.6	−22.1	−20.7
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−17.7	13.0	−53.4	6.3	106	111
Cash from financing	−123	−56.3	−86.3	−16.2	83.8	91.0
Foreign exchange effects	13.7	−10.1	7.2	6.2	7.3	0.9
Net change in cash	68.1	122	4.8	17.8	80.8	25.2
Free cash flow	195	222	150	44.5	64.4	−23.1

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.