Menicon Co. Ltd (MNNLF) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of Menicon Co. Ltd stock $6.35, price $12.02, that is 47.2% below the price, quality 55 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 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 10, 2026.
How to read this chart
60‑month range $8.12 – $39.70 · fair‑value band $6.23 – $6.94 · the $12.02 price screens above the $6.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Menicon Co., Ltd. manufactures and sells contact lenses and lens care products in Japan. The company offers its products to hospitals, eye clinics, contact lens retailers, eyeglass stores, and drug stores. It also exports its products.
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Menicon Co., Ltd. was incorporated in 1943 and is headquartered in Nagoya, Japan.
Stock analysis
Menicon Co. Ltd (MNNLF) currently trades at $12.02, while our model-based Fair Value estimate is $6.35, 47% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $11.36 per share, and 2 of the 16 models we run sit above the $12.02 price.
Bear case: the Dividend Discount group reads lowest at $3.61, and 14 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: $6.23 (bear) to $6.94 (bull), the price of $12.02 sits above 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 55/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Menicon Co. Ltd reported revenue of ¥126B in FY2026 versus ¥100B in FY2022, a compound +5.8%/yr. Reported net income was ¥5.9B in FY2026, compounding −2.3%/yr from FY2022.
Key figures
Market cap $892M Small · P/E ratio 19.4 · P/S ratio 0.91 · EPS (TTM) $0.6200 · Dividend yield 1.5% · Net margin 4.7% · Return on equity 7.9% · Return on assets (EBIT) 6.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades about 21% above its previous 52-week high, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −43% fair-value upside, at −47%, MNNLF screens richer than that median.
Fair Value models
Bear$6.23Fair Value $6.35Bull$6.94
Price $12.02 · Downside -47.2%
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 7 months old). Earnings retained since then ($0.2767 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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.4%
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.
+4.5%
Revenue growth 5 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.
+7.8%
Start year 2021 (pandemic)
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 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 5 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.
+0.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.6%
Dividend (yield on the price)1.5%
Profit margin 2021 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.9% → 8%
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.Medical Instruments & Supplies · 199 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score55 · Below median
Fair Value upside−47.2% · Bottom 25%
Profitability
Return on equity (12 months)7.9% · Above median
Return on assets3.0% · Below median
Net margin (12 months)5.6% · Below median
Operating margin (12 months)10.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.0% · Below median
Dividend yield (12 months)1.5% · Below median
Balance sheet
Debt / equity0.66× · Highest 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (12 months)19.4× · Cheaper than median
P/B1.50× · Cheaper than median
P/S (12 months)1.11× · Cheapest 25%
EV/EBITDA6.4× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)35· sector 39
PAST (return on equity)32· sector 26
HEALTH (low debt)67· sector 96
DIVIDEND (yield)29· sector 31
VALUE 0: the price sits above our fair-value range.
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.
Is Menicon Co. Ltd (MNNLF) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of $6.35 versus a price of $12.02, about 47% lower (overvalued).
What is the fair value of MNNLF?
Our model-based fair value for Menicon Co. Ltd is $6.35 (as of Nov 10, 2026), built from audited fundamentals. The current price: $12.02.
What is the quality score of MNNLF?
Menicon Co. Ltd has a Quality Score of 55/100. 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 Menicon Co. Ltd (MNNLF)?
Our model-based price target is the fair value of $6.35 (as of Nov 10, 2026) from 16 valuation models. Cautious scenario $6.23, optimistic scenario $6.94. It is a calculation from audited fundamentals, not an analyst target.
What is the Menicon Co. Ltd stock forecast for 2026?
Our models put fair value at $6.35, about 47% lower versus a price of $12.02 (overvalued). Cautious scenario $6.23, optimistic scenario $6.94. The calculation is refreshed regularly with new filings.
What is the revenue of Menicon Co. Ltd (MNNLF)?
Menicon Co. Ltd reported trailing-twelve-month revenue of about ¥128B (latest available figure, as of Nov 10, 2026).
Does Menicon Co. Ltd pay a dividend?
Menicon Co. Ltd currently shows a dividend yield of 1.46% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Menicon Co. Ltd (MNNLF) and when is the ex-dividend date?
Menicon Co. Ltd pays a dividend of $0.175 per share a year, a dividend yield of 1.5%. The next ex-dividend date is Mar 31, 2027. A dividend has been paid every year since at least 2022. The payout ratio is 35.1% of earnings. 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 is the intrinsic value of Menicon Co. Ltd (MNNLF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Menicon Co. Ltd it is $6.35 per share (as of Nov 10, 2026), against a price of $12.02. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Menicon Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, MNNLF trades above its calculated fair value: price $12.02, fair value $6.35, a gap of about −47% (overvalued). 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 MNNLF?
No. The price is what the market pays today ($12.02); the fair value is what the company's own numbers justify ($6.35). For Menicon Co. Ltd the two are $5.67 per share apart. That gap is exactly why we show both numbers side by side.
How much is Menicon Co. Ltd worth?
The market values Menicon Co. Ltd at about $892M (market capitalisation, as of Nov 10, 2026). Per share that is $12.02; our models calculate a fair value of $6.35 per share.
What do the bullish and bearish scenarios say about MNNLF?
Our models span a range for Menicon Co. Ltd: cautious scenario $6.23, base $6.35, optimistic $6.94 per share (as of Nov 10, 2026, price $12.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MNNLF?
Menicon Co. Ltd trades at a price-to-earnings ratio of 19.4 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $6.35 is built from several models across several years. Other multiples: P/B 1.5, P/S 1.1, EV/EBITDA 6.4.
How solid is the balance sheet of Menicon Co. Ltd (MNNLF)?
Balance-sheet figures for Menicon Co. Ltd (as of Nov 10, 2026): return on equity 7.9%, debt of 0.66 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is MNNLF from its 52-week high?
Menicon Co. Ltd trades at $12.02, about 21% above its previous 52-week high of $9.97 and 78% above the low of $6.74 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of $6.35 is for.
Which stocks are comparable to Menicon Co. Ltd?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, 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 Menicon Co. Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price $12.02, calculated fair value $6.35 (−47%), Quality Score 55/100, from 16 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 MNNLF calculated?
We run Menicon Co. Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $6.35 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 13.9% above its aggregate fair value. Menicon Co. Ltd itself currently trades above fair value. 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 Menicon Co. Ltd (MNNLF)?
The closing price on Nov 13, 2026 was $12.02. Our model-based fair value is $6.35, about 47% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Menicon Co. Ltd right now?
The price sits above even our optimistic bull case ($6.94). The favourable scenario is already priced in. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band ($6.23 to $6.94), unusually little disagreement for a valuation.
Key figures of Menicon Co. Ltd
How large is the market capitalisation of Menicon Co. Ltd (MNNLF)?
The market capitalisation of Menicon Co. Ltd is $892M. 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 Menicon Co. Ltd (MNNLF)?
The price-to-sales ratio of Menicon Co. Ltd is 0.91 (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 Menicon Co. Ltd (MNNLF)?
Earnings per share at Menicon Co. Ltd are $0.6200 (price ÷ EPS = P/E 19.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Menicon Co. Ltd (MNNLF)?
The dividend yield of Menicon Co. Ltd is 1.5% (payout 28.3%). 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 Menicon Co. Ltd (MNNLF)?
The net margin of Menicon Co. Ltd is 4.7% (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 Menicon Co. Ltd (MNNLF)?
The return on equity (ROE) of Menicon Co. Ltd is 7.9% (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 Menicon Co. Ltd (MNNLF)?
On an EBIT basis the return on assets of Menicon Co. Ltd is 6.2% (avg 5y). 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 Menicon Co. Ltd (MNNLF)?
The operating margin of Menicon Co. Ltd is 10.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Menicon Co. Ltd (MNNLF)?
Revenue at Menicon Co. Ltd is growing +7.0% versus a year earlier (3y avg +4.5%). 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 Menicon Co. Ltd (MNNLF)?
Earnings per share at Menicon Co. Ltd are growing +130% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Menicon Co. Ltd (MNNLF) generate?
The free cash flow of Menicon Co. Ltd is −¥4.7B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Menicon Co. Ltd (MNNLF) carry?
The net debt of Menicon Co. Ltd is ¥34.4B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 10, 2026