Murata Manufacturing Inc (MRAAY) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Murata Manufacturing Inc stock $16.50, price $15.74, upside +4.8%, quality 70 out of 100. Rating: fairly valued. Calculated from audited financials with 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 7, 2026.
How to read this chart
60‑month range $6.11 – $37.81 · fair‑value band $11.54 – $21.54 · the $15.74 price screens below the $16.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Murata Manufacturing Co., Ltd. develops, manufactures, and sells ceramic-based passive electronic components and solutions in Japan and internationally. It operates through three segments: Components, Devices & Modules, and Other.
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The company offers capacitors; inductors; high frequency device and communication modules, including surface acoustic wave filters, RF modules, multilayer resin substrates, and connectivity modules; lithium-ion secondary batteries; and sensors; antennas and related products; baluns; and batteries.
It also offers Femtet, a CAE software; capacitors; cell fractionation filters; connectivity modules; connectors; couplers; digital panel meters; filters; front-end modules; inductors; ionizers; micro mechatronics; watch batteries; noise suppression products; and optical devices.
In addition, the company provides phase shifters, power products, printed circuit products, resistors, RF switches, RFID products, sensors, sound components, thermistors, timing devices, and transformers.
It offers its products for use in communications equipment, mobility, data center and enterprise computing, industrial, wellness, personal electronics, and environment/energy applications. The company was founded in 1944 and is headquartered in Nagaokakyo, Japan.
Stock analysis
Murata Manufacturing Inc (MRAAY) currently trades at $15.74, while our model-based Fair Value estimate is $16.50, so the stock looks roughly fairly valued today (gap 4.6%).
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Valuation
Bull case: the Multiples group reads highest at a median of $13.68 per share, and 3 of the 26 models we run sit above the $15.74 price.
Bear case: the Asset-Based group reads lowest at $1.93, and 23 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $11.54 (bear) to $21.54 (bull), the price of $15.74 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 70/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Murata Manufacturing Inc reported revenue of ¥1.9T in FY2026 versus ¥1.8T in FY2022, a compound +1.7%/yr. Reported net income was ¥248B in FY2026, compounding −5.7%/yr from FY2022.
Key figures
Market cap $56.3B Large · P/E ratio 37.5 · P/S ratio 4.79 · EPS (TTM) $0.4200 · Dividend yield 1.0% · Net margin 12.8% · Return on equity 10.1% · Return on assets (EBIT) 10.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 73% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 5%, MRAAY screens cheaper than that median.
Fair Value models
Bear$11.54Fair Value $16.50Bull$21.54
Price $15.74 · Upside +4.8%
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 ($0.2566 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.70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.4%
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.
+4.8%
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.
+3.6%
Start year 2021 (pandemic). Over 10 years: +4.8% a year
Revenue growth 26 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.
+5.7%
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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.
+3.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.0%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.2.0% vs 4.5%, steady
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.19% → 17%
Pace: the 5-year rate starts in 2021 (pandemic)
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).
+23.0%
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.
+14.2%
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 +20.5% a year for the price and +11.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Moderate position in components is supported by new capacity and AI interface alliances yet undermined by lack of dominant moat evidence and weak returns on equity.
Main risk: As Murata shifts capacity to high-end AI MLCCs and discontinues some general-purpose lines, Chinese and Taiwanese makers such as Yageo and Walsin could capture switched orders and erode its position in standard products, pressuring volumes and margins.
Bull case: By leveraging its materials expertise and alliances Murata could accelerate diversification into power modules and integrated solutions for AI infrastructure, turning capacity shifts into higher-margin growth while maintaining a technology lead.
Bear case: If Chinese and Taiwanese rivals close the technology gap faster while raw material supplies from China face restrictions, Murata could lose share in both general and high-end segments, leading to underutilized facilities and squeezed margins.
Murata just finished a new production building at its Ho Chi Minh plant in Vietnam. The move adds capacity while the company also forms alliances to develop fresh input interfaces suited to the AI era. Does this buildout help it meet rising demand for components or leave extra facilities idle if growth slows?
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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 · 653 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+4.8% · Above median
Profitability
Return on equity (12 months)10.1% · Above median
Return on assets7.7% · Top 25%
Net margin (12 months)13.9% · Top 25%
Operating margin (12 months)19.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)20.7% · Above median
Dividend yield (12 months)1.0% · Below median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (12 months)37.5× · Pricier than median
P/B3.26× · Pricier than median
P/S (12 months)4.65× · Priciest 25%
Price / free cash flow (fiscal year)43.4× · Pricier than median
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Is Murata Manufacturing Inc (MRAAY) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $16.50 versus a price of $15.74, about +5% upside (fairly valued).
What is the fair value of MRAAY?
Our model-based fair value for Murata Manufacturing Inc is $16.50 (as of Nov 7, 2026), built from audited fundamentals. The current price: $15.74.
What is the quality score of MRAAY?
Murata Manufacturing Inc has a Quality Score of 70/100. 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 Murata Manufacturing Inc (MRAAY)?
Our model-based price target is the fair value of $16.50 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario $11.54, optimistic scenario $21.54. It is a calculation from audited fundamentals, not an analyst target.
What is the Murata Manufacturing Inc stock forecast for 2026?
Our models put fair value at $16.50, about +5% upside versus a price of $15.74 (fairly valued). Cautious scenario $11.54, optimistic scenario $21.54. The calculation is refreshed regularly with new filings.
What is the revenue of Murata Manufacturing Inc (MRAAY)?
Murata Manufacturing Inc reported trailing-twelve-month revenue of about ¥1.9T (latest available figure, as of Nov 7, 2026).
Does Murata Manufacturing Inc pay a dividend?
Murata Manufacturing Inc currently shows a dividend yield of 0.96% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Murata Manufacturing Inc (MRAAY) and when is the ex-dividend date?
Murata Manufacturing Inc has a dividend yield of 1.0%. The last ex-dividend date was Mar 31, 2026. A dividend has been paid every year since at least 2009. The payout ratio is 34.9% of earnings. Free cash flow covers the dividend 2.37 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Murata Manufacturing Inc (MRAAY)?
For today's price to be fair in a discounted-cash-flow model, Murata Manufacturing Inc would have to grow free cash flow by +23.0 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.6 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of MRAAY use?
Our models discount Murata Manufacturing Inc at 9.7 %: a base by market capitalisation (large), damped by beta 1.20, 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 Murata Manufacturing Inc that is +23.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Murata Manufacturing Inc (MRAAY) delivered so far?
Over the past 5 years revenue at Murata Manufacturing Inc grew +3.6 % a year. The price currently implies free-cash-flow growth of +23.0 % 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 Murata Manufacturing Inc (MRAAY) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Murata Manufacturing Inc (+23.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Murata Manufacturing Inc (MRAAY)?
The free-cash-flow yield on the price is 2.27 %: that much free cash flow Murata Manufacturing Inc produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Murata Manufacturing Inc (MRAAY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Murata Manufacturing Inc it is $16.50 per share (as of Nov 7, 2026), against a price of $15.74. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Murata Manufacturing Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MRAAY trades below its calculated fair value: price $15.74, fair value $16.50, a gap of about +5% (fairly valued). 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 MRAAY?
No. The price is what the market pays today ($15.74); the fair value is what the company's own numbers justify ($16.50). For Murata Manufacturing Inc the two are $0.7600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Murata Manufacturing Inc worth?
The market values Murata Manufacturing Inc at about $56.3B (market capitalisation, as of Nov 7, 2026). Per share that is $15.74; our models calculate a fair value of $16.50 per share.
What do the bullish and bearish scenarios say about MRAAY?
Our models span a range for Murata Manufacturing Inc: cautious scenario $11.54, base $16.50, optimistic $21.54 per share (as of Nov 7, 2026, price $15.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MRAAY?
Murata Manufacturing Inc trades at a price-to-earnings ratio of 37.5 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $16.50 is built from several models across several years. Other multiples: PEG 1.5, P/B 3.3, P/S 4.6, EV/EBITDA 15.0.
What is the PEG ratio of MRAAY?
The PEG ratio of Murata Manufacturing Inc is 1.45 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Murata Manufacturing Inc (MRAAY)?
Balance-sheet figures for Murata Manufacturing Inc (as of Nov 7, 2026): return on equity 10.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is MRAAY from its 52-week high?
Murata Manufacturing Inc trades at $15.74, about 58% below its 52-week high of $37.81 and 73% above the low of $9.12 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $16.50 is for.
Which stocks are comparable to Murata Manufacturing Inc?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, 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 Murata Manufacturing Inc stock attractive at the current price?
The data as of Nov 7, 2026: price $15.74, calculated fair value $16.50 (+5%), Quality Score 70/100, from 26 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 MRAAY calculated?
We run Murata Manufacturing Inc through 26 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 $16.50 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 13.3% above its aggregate fair value. Murata Manufacturing Inc currently trades 5% 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 Murata Manufacturing Inc (MRAAY)?
The closing price on Nov 6, 2026 was $15.74. Our model-based fair value is $16.50, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Murata Manufacturing Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($11.54 to $21.54) leaves room in how you read the outcome.
Where does the earnings growth of Murata Manufacturing Inc (MRAAY) come from?
Earnings per share at Murata Manufacturing Inc grew +2.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +5.4 %, EBIT margin −2.3 %, tax rate +0.4 %, residual (interest, one-offs) −0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Murata Manufacturing Inc
How large is the market capitalisation of Murata Manufacturing Inc (MRAAY)?
The market capitalisation of Murata Manufacturing Inc is $56.3B. 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 Murata Manufacturing Inc (MRAAY)?
The price-to-sales ratio of Murata Manufacturing Inc is 4.79 (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 Murata Manufacturing Inc (MRAAY)?
Earnings per share at Murata Manufacturing Inc are $0.4200 (price ÷ EPS = P/E 37.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Murata Manufacturing Inc (MRAAY)?
The dividend yield of Murata Manufacturing Inc is 1.0% (payout 36.0%). 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 Murata Manufacturing Inc (MRAAY)?
The net margin of Murata Manufacturing Inc is 12.8% (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 Murata Manufacturing Inc (MRAAY)?
The return on equity (ROE) of Murata Manufacturing Inc is 10.1% (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 Murata Manufacturing Inc (MRAAY)?
On an EBIT basis the return on assets of Murata Manufacturing Inc is 10.8% (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 Murata Manufacturing Inc (MRAAY)?
The operating margin of Murata Manufacturing Inc is 19.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Murata Manufacturing Inc (MRAAY)?
Revenue at Murata Manufacturing Inc is growing +20.7% versus a year earlier (3y avg +4.8%). 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 Murata Manufacturing Inc (MRAAY)?
Earnings per share at Murata Manufacturing Inc are growing +66.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Murata Manufacturing Inc (MRAAY) hold?
Murata Manufacturing Inc holds more cash than debt, ¥601B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026