Lasertec Corporation LSRCY

Information TechnologySemiconductors & Semiconductor EquipmentJapan

Last close 43.58 USD on Nov 1, 2026, +15.2% year to date

Quant rating

Quant rating A Rank 27 of 200 in Information Technology

Growth A 17 of 200
Valuation B 49 of 200
Quality A 5 of 200
Revisions B 76 of 200
Momentum C 119 of 200

Wall Street consensus Buy (2.33)Average target 323.74 USD +642.9%

Historical valuation

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

Key data

Market cap: 22.6B
Enterprise value: 22.0B
52-week range: 33.13 – 72.89
3-year range: 14.75 – 72.89
Dividend yield: 0.95%
Beta (5 years): 2.21
Shares outstanding: 94.3M
Next earnings: Oct 30, 2026

About the company

Lasertec Corp is a Japan-based company mainly engaged in the design, manufacture and sale of the inspection and measurement equipment. The Company is involved in the design, manufacture and sale of the semiconductor-related devices and other devices using optical application technology, as well as the provision of the related services. The Company’s main products include semiconductor related equipment such as photomasks and defect inspection or measurement equipment for various wafers, energy & environment related equipment for SiC wafer, transparent wafer defect inspection or review equipment, FPD-related equipment for FPD photomask defect inspection equipment, hybrid laser microscope laser microscope. The Company operates in North America and Europe, Japan and Asia.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	1,418	1,746	1,328	1,059	666	–
Revenue growth	−18.8%	31.5%	25.4%	59.0%	5.3%	17.5%
EPS (basic, normalized)	5.45	6.38	4.47	3.59	2.04	–
EPS growth	−14.6%	42.9%	24.3%	76.0%	–	–
Gross margin	59.2%	59.0%	50.3%	55.0%	52.9%	55.3%
Net margin	33.6%	33.7%	27.7%	30.2%	27.5%	30.5%
ROE	33.9%	46.9%	45.4%	50.8%	38.8%	43.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	704
Current ratio	2.58x
Long-term debt (mil)	0
Net debt (mil)	−704
Total equity (mil)	1,522
Net debt / equity	−0.46x
Net debt / EBITDA	−1.01x

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	1,418	−18.8%	15.5x	694	−14.8%	31.6x	5.45	−14.6%	8.0x
2027	1,903	+34.2%	11.5x	897	+29.3%	24.5x	7.10	+30.3%	6.1x
2028	2,475	+30.1%	8.9x	1,208	+34.6%	18.2x	9.48	+33.6%	4.6x
2029	3,012	+21.7%	7.3x	1,485	+23.0%	14.8x	11.74	+23.8%	3.7x

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	1,903	+0.8%	+5.1%	+11.5%	7.10	−0.4%	+1.5%	+8.6%
2028	2,475	+1.9%	+7.9%	+20.1%	9.48	+1.4%	+5.0%	+19.3%
2029	3,012	+4.9%	+3.8%	+46.6%	11.74	+3.8%	+10.3%	+30.1%

Earnings surprises EPS beat in 2 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)	62,213	56,304	36,737	92,231	39,867	82,642	54,171	74,087	41,281	60,946
Sales mean (mil)	49,094	47,283	57,259	60,440	58,723	71,106	47,818	57,188	45,798	62,820
Surprise	+26.7%	+19.1%	−35.8%	+52.6%	−32.1%	+16.2%	+13.3%	+29.5%	−9.9%	−3.0%
EPS reported	214.25	194.65	99.03	381.28	103.96	354.34	211.46	297.33	123.58	230.52
EPS mean	145.70	149.98	172.16	215.60	192.70	238.03	159.50	210.28	175.21	273.36
Surprise	+47.0%	+29.8%	−42.5%	+76.8%	−46.0%	+48.9%	+32.6%	+41.4%	−29.5%	−15.7%

Peer comparison Semiconductors & Semiconductor Equipment

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
LSRCY Lasertec Corporation	22.6B	−1.01x	33.6%	13.69x	6.1x	4.6x	24.5x	18.2x
Q Qnity Electronics, Inc.	24.4B	2.39x	14.6%	3.36x	25.6x	21.5x	16.2x	14.1x
ENTG Entegris Inc	23.6B	3.39x	7.4%	5.44x	36.0x	27.8x	24.7x	20.6x
GFS GLOBALFOUNDRIES Inc.	23.0B	−0.28x	13.0%	1.95x	22.2x	16.5x	9.3x	7.7x
SWKS Skyworks Solutions, Inc.	20.6B	−0.21x	11.7%	2.30x	17.4x	15.8x	18.3x	8.8x
VGTHY Victory Giant Technology (HuiZhou) Co Ltd	20.0B	−1.02x	22.4%	3.51x	2.8x	1.3x	11.6x	5.7x
Mean		0.54x	17.1%	5.04x	18.3x	14.6x	17.4x	12.5x
Median		−0.24x	13.8%	3.44x	19.8x	16.1x	17.2x	11.5x

Technical analysis

1M−14.4%
3M−4.2%
1Y+50.9%
3Y+35.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Lasertec Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	1,418	1,746	1,328	1,059	666	632
Cost of revenue	578	717	659	477	314	300
Gross profit	840	1,029	668	582	352	333
Selling, general & administrative expenses	91.8	95.4	86.7	74.5	49.1	46.6
Research & development	100	81.1	75.6	76.1	63.6	51.4
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	648	853	506	432	239	235
Net interest income (expense)	15.6	−24.4	4.0	9.4	7.9	3.2
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0.6	0.8	0	0.1	0.1	0.1
Net income before taxes	664	829	510	441	247	238
Provision for taxes	187	242	143	121	64.3	64.7
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	477	588	367	320	183	173
Extraordinary items	–	–	–	–	–	–
Net income	477	588	367	320	183	173
EBIT, normalized	648	853	506	432	239	235
EBITDA, normalized	676	885	535	456	265	249
Basic EPS, normalized	5.45	6.38	4.47	3.59	2.04	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Lasertec Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	563	598	237	206	173	251
Receivables	166	171	144	286	187	144
Total inventory	1,032	1,174	1,010	1,054	767	485
Prepaid expenses	–	–	–	–	–	–
Other current assets	54.5	49.6	51.8	55.6	59.1	34.8
Total current assets	1,815	1,992	1,442	1,601	1,186	916
Property, plant & equipment	180	210	175	197	65.7	89.3
Goodwill	–	–	–	–	–	–
Intangibles	7.7	17.0	26.4	42.7	43.9	27.6
Long-term investments	9.5	7.0	8.2	11.3	7.0	18.1
Note receivable	–	–	–	–	–	–
Other long-term assets	58.6	62.5	34.7	29.6	13.1	18.0
Total assets	2,071	2,289	1,687	1,882	1,316	1,069
Liabilities
Accounts payable	77.1	66.7	71.6	118	81.2	58.4
Payable/accrued	–	–	–	–	–	–
Accrued expenses	5.6	6.7	7.7	7.9	5.8	5.7
Short-term debt	0	0	0	34.6	73.7	0
Current portion of long-term debt	0.3	0.3	0.1	0.1	0	0
Other current liabilities	448	745	656	958	614	503
Total current liabilities	531	819	735	1,119	775	567
Long-term debt	0.6	0.9	0.4	0.2	0.1	0.2
Minority interest	–	–	–	–	–	–
Other liabilities	20.5	11.4	10.1	6.7	5.2	4.8
Total liabilities	552	831	746	1,125	780	572
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	5.7	6.5	5.8	6.5	6.9	8.4
Additional paid-in capital	8.5	9.4	8.0	8.4	8.5	9.7
Retained earnings (accumulated deficit)	1,557	1,435	911	732	516	477
Treasury stock	−79.8	−6.8	−6.1	−6.8	−7.2	−8.8
Other equity	27.8	13.5	22.1	16.7	11.7	10.0
Total equity	1,519	1,458	941	756	536	497
Total liabilities & shareholders' equity	2,071	2,289	1,687	1,882	1,316	1,069

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Lasertec Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	664	829	510	441	247	238
Depreciation, depletion & amortization	28.8	32.5	29.4	24.2	25.7	14.8
Deferred taxes	–	–	–	–	–	–
Non-cash items	−0.3	22.7	7.9	0.2	−4.5	−4.9
Changes in working capital	−394	−344	−340	−183	−294	−153
Cash from operations	299	541	207	282	−25.5	94.4
Investing activities
Capital expenditures	−11.0	−16.1	−22.0	−142	−39.5	−32.8
Other investing cash flows	−0.6	−0.7	−0.2	−0.2	−0.2	−0.6
Cash from investing	−11.6	−16.8	−22.2	−143	−39.7	−33.3
Financing activities
Financing cash flow items	−0.3	−0.3	−0.1	0	0	0
Cash dividends paid	−192	−170	−113	−73.1	−57.8	−38.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−73.8	0	−31.1	−34.6	73.7	0
Cash from financing	−266	−171	−144	−108	15.8	−38.2
Foreign exchange effects	11.9	−20.5	11.1	11.9	16.8	5.8
Net change in cash	33.3	333	52.1	44.0	−32.6	28.7
Free cash flow	288	525	185	140	−65.0	61.7

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 1, 2026 after market close.