Dexerials Corporation (DEXCF) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of Dexerials Corporation stock $15.00, price $12.95, upside +15.9%, quality 61 out of 100. Rating: undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 14, 2026.
How to read this chart
20‑month range $7.52 – $17.08 · fair‑value band $8.24 – $22.55 · the $12.95 price screens below the $15.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 14, 2026.
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Dexerials Corporation manufactures and sells electronic components, bonding materials, optics materials, and other products in Japan. It operates through two segments: Optical Materials and Component and Electronic Materials and Components.
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The company offers anisotropic conductive films, optical elastic resins, optical films, architectural window films, double and single coated tapes, industrial adhesive tapes, opto semiconductor elements, optical and opto sensors and Optical communication-use devices, thermal conductive sheets, inorganic waveplates and polarizers, inorganic diffusers, anti-reflection films, and sputtering targets, as well as UV curable resins for optical disks.
It also provides DxShield, a film for medical eye shield; and leak repair products through Infra-Aid brand. In addition, the company offers surface mounted type fuses and water treatment agents for inorganic effluent; and solar cell conductive films for photovoltaic modules.
Its products are used in various applications, such as television, note and tablet PC, smartphones, automobiles, optical communication, factory automation, currency validation, medical and healthcare, and analyzers and measuring equipment.
The company was formerly known as Sony Chemical & Information Device Corporation and changed its name to Dexerials Corporation in September 2012. Dexerials Corporation was founded in 1962 and is headquartered in Tochigi, Japan.
Stock analysis
Dexerials Corporation (DEXCF) currently trades at $12.95, while our model-based Fair Value estimate is $15.00, implying the stock looks roughly 14% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $23.98 per share, and 15 of the 25 models we run sit above the $12.95 price.
Bear case: the Asset-Based group reads lowest at $2.02, and 10 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: $8.24 (bear) to $22.55 (bull), the price of $12.95 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Dexerials Corporation reported revenue of ¥114B in FY2026 versus ¥106B in FY2023, a compound +2.4%/yr. Reported net income was ¥28.0B in FY2026, compounding +10.6%/yr from FY2023.
Key figures
Market cap $3.7B Mid · P/E ratio 12.2 · P/S ratio 3.01 · EPS (TTM) $1.06 · Dividend yield 1.6% · Net margin 24.6% · Return on equity 27.3% · Return on assets (EBIT) 24.4% (4-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 91 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and below its previous 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −20% fair-value upside, at 16%, DEXCF screens cheaper than that median.
Fair Value models
Bear$8.24Fair Value $15.00Bull$22.55
Price $12.95 · Upside +15.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 8 months old). Earnings retained since then ($0.5322 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.4%
’23
’24
’25
’26
What shareholders gained per year (last 3 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+11.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.1%
Dividend (yield on the price)1.6%
Profit margin 2023 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 34%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+46.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +43.9% a year for the price and +8.9% for the forecasts.
AI conclusion: Strong reported margins and leading global market shares in core components support business quality, while low free cash flow and insufficient external signals remain the main limitations.
Main risk: Persistent display-related softness could continue to weigh on results and offset gains from added output in market-leading components.
Dexerials has completed a new building at its Kanuma plant to expand capacity for products holding the top global market shares while shifting toward a smart factory setup. Photonics offerings are also positioned as a growth engine tied to optical semiconductors for AI applications. Will the added output in core components and the AI push together lift results enough to close the gap our models see, or will display-related softness continue to weigh on the business?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electronic Components · 701 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside+15.9% · Top 25%
Profitability
Return on equity (12 months)27.3% · Top 25%
Return on assets17.0% · Top 25%
Net margin (12 months)25.0% · Top 25%
Operating margin (12 months)31.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)4.0% · Below median
Dividend yield (12 months)1.6% · Above median
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Dexerials Corporation Fair Value". https://www.fairvalue-calculator.com/stock/DEXCF
Frequently asked questions
Is Dexerials Corporation (DEXCF) overvalued or undervalued?
As of Nov 14, 2026, our model estimates a fair value of $15.00 versus a price of $12.95, about +16% upside (undervalued).
What is the fair value of DEXCF?
Our model-based fair value for Dexerials Corporation is $15.00 (as of Nov 14, 2026), built from audited fundamentals. The current price: $12.95.
What is the quality score of DEXCF?
Dexerials Corporation has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dexerials Corporation (DEXCF)?
Our model-based price target is the fair value of $15.00 (as of Nov 14, 2026) from 25 valuation models. Cautious scenario $8.24, optimistic scenario $22.55. It is a calculation from audited fundamentals, not an analyst target.
What is the Dexerials Corporation stock forecast for 2026?
Our models put fair value at $15.00, about +16% upside versus a price of $12.95 (undervalued). Cautious scenario $8.24, optimistic scenario $22.55. The calculation is refreshed regularly with new filings.
What is the revenue of Dexerials Corporation (DEXCF)?
Dexerials Corporation reported trailing-twelve-month revenue of about ¥115B (latest available figure, as of Nov 14, 2026).
Does Dexerials Corporation pay a dividend?
Dexerials Corporation currently shows a dividend yield of 1.64% relative to its recent price (as of Nov 14, 2026).
How much is the dividend of Dexerials Corporation (DEXCF) and when is the ex-dividend date?
Dexerials Corporation pays a dividend of $0.212 per share a year, a dividend yield of 1.6%. The next ex-dividend date is Mar 30, 2027. The payout ratio is 36.7% of earnings. Free cash flow covers the dividend 0.22 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Dexerials Corporation (DEXCF)?
For today's price to be fair in a discounted-cash-flow model, Dexerials Corporation would have to grow free cash flow by 46.9 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew 2.4 % per year. As of Nov 14, 2026.
What discount rate (WACC) does the fair value of DEXCF use?
Our models discount Dexerials Corporation at 9.0 %: a base by market capitalisation (mid), damped by beta 0.69, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dexerials Corporation that is +46.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Dexerials Corporation (DEXCF) delivered so far?
Over the past 3 years revenue at Dexerials Corporation grew 2.4 % a year. The price currently implies free-cash-flow growth of +46.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Dexerials Corporation (DEXCF) growing?
The median revenue growth in the sector is +17.5 % a year. That is the yardstick for the growth priced into Dexerials Corporation (+46.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dexerials Corporation (DEXCF)?
The free-cash-flow yield on the price is 0.67 %: that much free cash flow Dexerials Corporation produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dexerials Corporation (DEXCF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dexerials Corporation it is $15.00 per share (as of Nov 14, 2026), against a price of $12.95. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Dexerials Corporation stock overvalued or undervalued in 2026?
As of Nov 14, 2026, DEXCF trades below its calculated fair value: price $12.95, fair value $15.00, a gap of about +16% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DEXCF?
No. The price is what the market pays today ($12.95); the fair value is what the company's own numbers justify ($15.00). For Dexerials Corporation the two are $2.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dexerials Corporation worth?
The market values Dexerials Corporation at about $3.7B (market capitalisation, as of Nov 14, 2026). Per share that is $12.95; our models calculate a fair value of $15.00 per share.
What do the bullish and bearish scenarios say about DEXCF?
Our models span a range for Dexerials Corporation: cautious scenario $8.24, base $15.00, optimistic $22.55 per share (as of Nov 14, 2026, price $12.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DEXCF?
Dexerials Corporation trades at a price-to-earnings ratio of 12.2 (as of Nov 14, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $15.00 is built from several models across several years. Other multiples: P/B 3.2, P/S 3.0, EV/EBITDA 12.7.
How solid is the balance sheet of Dexerials Corporation (DEXCF)?
Balance-sheet figures for Dexerials Corporation (as of Nov 14, 2026): return on equity 27.3%, debt of 0.12 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is DEXCF from its 52-week high?
Dexerials Corporation trades at $12.95, about 56% below its 52-week high of $29.30 and below the previous low of $13.46 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of $15.00 is for.
Which stocks are comparable to Dexerials Corporation?
From the same area (Technology) we also value Amphenol Corporation, Corning Incorporated, Delta Electronics, Inc, Hon Hai Precision Industry Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dexerials Corporation stock attractive at the current price?
The data as of Nov 14, 2026: price $12.95, calculated fair value $15.00 (+16%), Quality Score 61/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DEXCF calculated?
We run Dexerials Corporation through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $15.00 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1% above its aggregate fair value. Dexerials Corporation currently trades 14% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dexerials Corporation (DEXCF)?
The closing price on Nov 13, 2026 was $12.95. Our model-based fair value is $15.00, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dexerials Corporation right now?
The model range is unusually wide ($8.24 to $22.55). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Dexerials Corporation
How large is the market capitalisation of Dexerials Corporation (DEXCF)?
The market capitalisation of Dexerials Corporation is $3.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dexerials Corporation (DEXCF)?
The price-to-sales ratio of Dexerials Corporation is 3.01 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dexerials Corporation (DEXCF)?
Earnings per share at Dexerials Corporation are $1.06 (price ÷ EPS = P/E 12.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dexerials Corporation (DEXCF)?
The dividend yield of Dexerials Corporation is 1.6% (payout 20.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Dexerials Corporation (DEXCF)?
The net margin of Dexerials Corporation is 24.6% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Dexerials Corporation (DEXCF)?
The return on equity (ROE) of Dexerials Corporation is 27.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dexerials Corporation (DEXCF)?
On an EBIT basis the return on assets of Dexerials Corporation is 24.4% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dexerials Corporation (DEXCF)?
The operating margin of Dexerials Corporation is 31.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dexerials Corporation (DEXCF)?
Revenue at Dexerials Corporation is growing 4.0% versus a year earlier (3y avg +2.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Dexerials Corporation (DEXCF)?
Earnings per share at Dexerials Corporation are growing 13.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 14, 2026