Hulic Co (87W) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Hulic Co €7.55, price €9.50, upside -20.5%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
In Frankfurt, only 0 of the last 21 trading days (30 days) had any turnover. On the other days the price is an indicative quote without trading, so we do not list this stock in the radar. It stays reachable through search.
HCSome dataSep 30, 2026
Hulic Co
87W · F
Weak valuationQuality is weak on top of the rich price.
!Fair value €7.55 · Overvalued (−20.5%)
!Quality 48/100
!Expensive Growth(revenue 3y +11.6 %/yr)
✓Solidly profitable · 14.2% net margin (TTM)
!High debt · negative free cash flow
!3.9% dividend yield · Watch coverage
✓Ranks above peers(8/13)
!Moderate moat60/100
!Evidence only medium, so the estimate is less certain
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
55‑month range €6.03 – €10.88 · fair‑value band €6.29 – €10.63 · the €9.50 price screens above the €7.55 fair value. Dashed = 300-day average. As of Sep 30, 2026.
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Hulic Co., Ltd. engages in holding, leasing, brokerage, and selling of real estate properties in Japan. Its property portfolio includes offices, bank branches, commercial facilities, hotels, and senior living facilities.
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Hulic Co., Ltd. engages in holding, leasing, brokerage, and selling of real estate properties in Japan. Its property portfolio includes offices, bank branches, commercial facilities, hotels, and senior living facilities. The company also engages in planning, designing, assessment, order, supervision, and consulting of construction work; general construction; property and hotel management; asset management and insurance agency businesses; development and management of renewable energy power plants and storage systems; electricity retailing; consulting on other matters related to renewable energy and decarbonization; management and holding stock of agricultural company; and operation of private tuition schools under the TOMAS brand, as well as provides child education and tourism-related services. In addition, it offers renewal, renovation, and conversion of properties services. The company was formerly known as Nihonbashi Kogyo Co., Ltd and changed its name to Hulic Co., Ltd. in 2007. Hulic Co., Ltd. was incorporated in 1931 and is headquartered in Chuo, Japan.
Stock analysis
Hulic Co (87W) currently trades at €9.50, while our model-based Fair Value estimate is €7.55, 20.5% 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 €13.54 per share, and 4 of the 9 models we run sit above the €9.50 price.
Bear case: the Asset-Based group reads lowest at €4.54, and 5 of the 9 models stay below the price. Evidence for this calculation is medium.
Scenario range: €6.29 (bear) to €10.63 (bull), the price of €9.50 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 48/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hulic Co reported revenue of ¥727B in FY2025 versus ¥523B in FY2022, a compound +11.6%/yr. Reported net income was ¥114B in FY2025, compounding +13.0%/yr from FY2022.
Key figures
Market cap €7.2B · P/E ratio 10.9 · P/S ratio 1.72 · EPS (TTM) €0.8700 · Dividend yield 3.9% · Net margin 15.7% · Return on equity 13.1% · Return on assets (EBIT) 5.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −48% fair-value upside, at −21%, 87W screens cheaper than that median.
Fair Value models
Bear €6.29Fair Value €7.55Bull €10.63
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+23.0%
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.
+11.6%
’22
’23
’24
’25
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.
+13.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.7%
Dividend (yield on the price)3.9%
Profit margin 2022 to 2025 ⓘ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.24% → 26%
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.Real Estate - Diversified · 129 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−21.4% · Below median
Profitability
Return on equity (TTM)13.1% · Top 25%
Return on assets3.4% · Top 25%
Net margin (TTM)14.2% · Below median
Operating margin (TTM)25.9% · Above median
Growth and dividend
Revenue growth32.3% · Top 25%
Dividend yield (TTM)3.9% · Above median
Balance sheet
Debt / equity2.00× · Highest 25%
Valuation Multiplesvs Real Estate - Diversified 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). "Hulic Co Fair Value". https://www.fairvalue-calculator.com/stock/87W
Frequently asked questions
Is Hulic Co (87W) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of €7.55 versus a price of €9.50, about −21% upside (overvalued).
What is the fair value of 87W?
Our model-based fair value for Hulic Co is €7.55 (as of Sep 30, 2026), built from audited fundamentals. The current price: €9.50.
What is the quality score of 87W?
Hulic Co has a Quality Score of 48/100. 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 Hulic Co (87W)?
Our model-based price target is the fair value of €7.55 (as of Sep 30, 2026) from 9 valuation models. Cautious scenario €6.29, optimistic scenario €10.63. It is a calculation from audited fundamentals, not an analyst target.
What is the Hulic Co stock forecast for 2026?
Our models put fair value at €7.55, about −21% upside versus a price of €9.50 (overvalued). Cautious scenario €6.29, optimistic scenario €10.63. The calculation is refreshed regularly with new filings.
What is the revenue of Hulic Co (87W)?
Hulic Co reported trailing-twelve-month revenue of about ¥844B (latest available figure, as of Sep 30, 2026).
Does Hulic Co pay a dividend?
Hulic Co currently shows a dividend yield of about 3.87% relative to its recent price (as of Sep 30, 2026).
What is the intrinsic value of Hulic Co (87W)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hulic Co it is €7.55 per share (as of Sep 30, 2026), against a price of €9.50. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Hulic Co stock overvalued or undervalued in 2026?
As of Sep 30, 2026, 87W trades above its calculated fair value: price €9.50, fair value €7.55, a gap of about −21% (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 87W?
No. The price is what the market pays today (€9.50); the fair value is what the company's own numbers justify (€7.55). For Hulic Co the two are €1.95 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hulic Co worth?
The market values Hulic Co at about €7.2B (market capitalisation, as of Sep 30, 2026). Per share that is €9.50; our models calculate a fair value of €7.55 per share.
What do the bullish and bearish scenarios say about 87W?
Our models span a range for Hulic Co: cautious scenario €6.29, base €7.55, optimistic €10.63 per share (as of Sep 30, 2026, price €9.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 87W?
Hulic Co trades at a price-to-earnings ratio of 10.9 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €7.55 is built from several models across several years. Other multiples: P/B 1.4, P/S 1.5, EV/EBITDA 13.4.
How solid is the balance sheet of Hulic Co (87W)?
Balance-sheet figures for Hulic Co (as of Sep 30, 2026): return on equity 13.1%, debt of 2.00 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 87W from its 52-week high?
Hulic Co trades at €9.50, about 13% below its 52-week high of €10.88 and 18% above the low of €8.02 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €7.55 is for.
Which stocks are comparable to Hulic Co?
From the same area (Real Estate) we also value Henderson Land Development Company, Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills Limited, 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 Hulic Co stock attractive at the current price?
The data as of Sep 30, 2026: price €9.50, calculated fair value €7.55 (−21%), Quality Score 48/100, from 9 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 87W calculated?
We run Hulic Co through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €7.55, 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 14.5 % above its aggregate fair value. Hulic Co 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 Hulic Co (87W)?
The closing price on Oct 1, 2026 was €9.50. Our model-based fair value is €7.55, about −21% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hulic Co right now?
Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Hulic Co
How large is the market capitalisation of Hulic Co (87W)?
The market capitalisation of Hulic Co is €7.2B. 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 Hulic Co (87W)?
The price-to-sales ratio of Hulic Co is 1.72 (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 Hulic Co (87W)?
Earnings per share at Hulic Co are €0.8700 (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hulic Co (87W)?
The dividend yield of Hulic Co is 3.9% (payout 42.3%). 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 Hulic Co (87W)?
The net margin of Hulic Co is 15.7% (fiscal year 2025). 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 Hulic Co (87W)?
The return on equity (ROE) of Hulic Co is 13.1% (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 Hulic Co (87W)?
On an EBIT basis the return on assets of Hulic Co is 5.5% (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 Hulic Co (87W)?
The operating margin of Hulic Co is 25.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hulic Co (87W)?
Revenue at Hulic Co is growing +32.3% versus a year earlier (3y avg +11.6%). 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 Hulic Co (87W)?
Earnings per share at Hulic Co are growing +14.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hulic Co (87W) generate?
The free cash flow of Hulic Co is −¥177B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hulic Co (87W) carry?
The net debt of Hulic Co is ¥2.1T (fiscal year 2025). 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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