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Anritsu Corporation (AITUY) fair value: what the stock is really worth

We calculate from audited financials what Anritsu Corporation is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Technology · US · ISIN JP3128800004

AC Anritsu Corporation logo Broad data Sep 13, 2026

Anritsu Corporation

AITUY · US

Quality Too ExpensiveExcellent quality, but the valuation looks stretched.

!Fair value $13.16 · Strongly overvalued (−36%)
Quality 77/100
!Mixed Growth (revenue 3y +2.3 %/yr)
!Thin margins · 9.9% net margin (TTM)
Low debt · generates free cash flow
·1.12% dividend yield
!Moderate moat 54/100
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$23.93 $0.0174 Fair Value $13.16 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range $0.0174 – $23.93 · fair‑value band $9.87 – $16.45 · the $20.44 price screens above the $13.16 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Anritsu Corporation develops, manufactures, and sells electronic measurement instruments in Japan and internationally. It operates through Communications measurement, Products Quality Assurance, and Environmental Measurement segments.

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Anritsu Corporation develops, manufactures, and sells electronic measurement instruments in Japan and internationally. It operates through Communications measurement, Products Quality Assurance, and Environmental Measurement segments. The company's test and measurement products include bit error rate tester and sampling oscilloscope; mobile/wireless communications measuring instruments, such as Bluetooth and WLAN testers, cable and antenna analyzers, channel emulators/fading simulators, conformance test systems, handset one box testers, land mobile radio products, passive intermodulation analyzers, shield boxes/chambers, open RAN testers, and signaling testers; optical measuring instruments comprising OTDRs, optical loss test set/light source/optical power meter products, optical spectrum analyzers, video inspection probes, and accessories; RF microwave measuring instruments, such as power meters and sensors; signal generators; and signal/spectrum analyzers, vector network analyzers, and transport and ethernet testing products. It also provides solution for 6g, 5g/5g-advanced, internet of things, automotive, wireless connectivity, data center, photonic/transport networks, high-speed digital systems, installation and maintenance, optical/photonic device, and general-purpose instruments. The company was founded in 1900 and is headquartered in Kanagawa, Japan.

Stock analysis

Anritsu Corporation (AITUY) currently trades at $20.44, while our model-based Fair Value estimate is $13.16, implying the stock looks roughly 55.3% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $13.93 per share, and 0 of the 22 models we run sit above the $20.44 price.

Bear case: the Asset-Based group reads lowest at $4.23, and 22 of the 22 models stay below the price. Evidence for this calculation is high.

Scenario range: $9.87 (bear) to $16.45 (bull), the price of $20.44 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 77/100 (high quality), in the Technology sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Anritsu Corporation reported revenue of ¥113B in FY2025 versus ¥106B in FY2021, a compound +1.6%/yr. Reported net income was ¥9.3B in FY2025, compounding −12.9%/yr from FY2021.

Key figures

Market cap $3.1B · P/E ratio 35.9 · P/S ratio 2.94 · EPS (TTM) $0.5700 · Dividend yield 1.1% · Net margin 8.2% · Return on equity 9.1% · Return on assets (EBIT) 9.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).

What moves the price

The share trades about 21% below its 52-week high and 84% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −40% fair-value upside, at −36%, AITUY screens cheaper than that median.

Fair Value models

Bear $9.87 Fair Value $13.16 Bull $16.45
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. 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.
Highest evidence
FCF DCF $10.96 $13.93 $18.88 78
Growth DCF $11.24 $14.09 $18.52 77
Owner Earnings $7.94 $9.87 $13.07 75
All 22 models by family
DCF Models
FCF DCF $10.96 $13.93 $18.88 78
Owner Earnings $7.94 $9.87 $13.07 75
5Y Revenue Exit $8.89 $11.39 $14.81 71
5Y EBITDA Exit $12.19 $17.06 $23.13 73
5Y P/E Exit $10.94 $14.92 $19.36 69
10Y Revenue Exit $9.49 $11.78 $14.38 65
10Y EBITDA Exit $11.63 $15.46 $19.88 67
10Y P/E Exit $10.88 $14.07 $17.39 62
Earnings-Based
Graham-Dodd $3.20 $5.86 $7.26 64
EPV $6.52 $7.17 $7.73 74
Multiples
P/E Multiple $9.87 $13.16 $16.45 63
P/S Multiple $5.99 $7.99 $9.99 58
P/B Multiple $5.99 $7.99 $9.99 55
EV/EBIT $13.47 $17.17 $20.86 66
EV/EBITDA $14.61 $18.69 $22.76 67
EV/Revenue $7.99 $10.39 $12.80 54
Asset-Based
NCAV (Graham) $3.15 $4.23 $6.31 54
Growth DCF
Growth DCF $11.24 $14.09 $18.52 77
Rev-Margin DCF $8.89 $11.55 $14.74 71
Economic Profit
Residual Income $5.10 $5.37 $5.79 68
ROIC Compounder $6.54 $7.31 $8.10 69
Growth Earnings
Growth-Adj P/E $6.93 $9.90 $12.88 65

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Quality Score breakdown

Overall quality 77/100

Of which business quality 75 · Market factors (momentum, volatility) 79

Profitability 47
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 99
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.8%
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.
+2.3%
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.
−8.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.3%
Dividend (yield on the price)1.1%
Profit margin 2021 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.19% → 11%

Growth Forecast

Price in line with expectations
The price assumes more growth than the company has delivered so far and about what 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).
+7.9%
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.
+8.7%
Yearly sales growth analysts expect, extended to five years.
Forecast 2026 (sales)+8.3%
Forecast 2027 (sales)+8.3%
Forecast 2028 (sales)+10.1%
Projected 2029 (sales)+9.0%
Projected 2030 (sales)+7.8%

AITUY screens 55% overvalued. Compare with Keysight Technologies, Inc →

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Peer GroupHow 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.Scientific & Technical Instruments · 164 stocks

Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 77 · Top 25%
Fair Value upside −47% · Below median
Profitability
Return on equity (TTM) 9% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 18% · Top 25%
Growth and dividend
Revenue growth 13% · Above median
Dividend yield (TTM) 1.1% · Above median
Balance sheet
Debt / equity 0.02× · Below median

Valuation Multiplesvs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 35.9× · Cheaper than median
P/B 3.85× · Pricier than median
P/S (TTM) 4.08× · Pricier than median
P/FCF 0.2× · Cheapest 25%
EV/EBITDA 20.7× · Cheaper than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $338.64 $107.22 −68%
Garmin Ltd GRMN $282.67 $304.44 +8%
Teledyne Technologies Incorporated TDY $603.79 $664.17 +10%
Chroma ATE Inc 2360 2,160 TWD 645.14 TWD −70%
Hexagon AB HEXAB kr 93.88 kr 75.52 −20%
MKS Inc MKSI $267.31 $152.00 −43%
AVIC Chengdu Aircraft Company 302132 ¥63.42 ¥17.50 −72%
Fortive Corporation FTV $54.69 $33.48 −39%
Trimble Inc TRMB $57.66 $27.06 −53%
Cognex Corporation CGNX $64.22 $38.50 −40%

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Cite: Fair Value Calculator (2026). "Anritsu Corporation Fair Value". https://www.fairvalue-calculator.com/stock/AITUY

Frequently asked questions

Is Anritsu Corporation (AITUY) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $13.16 versus a price of $20.44, about −36% upside (overvalued).
What is the fair value of AITUY?
Our model-based fair value for Anritsu Corporation is $13.16 (as of Sep 13, 2026), built from audited fundamentals. The current price: $20.44.
What is the quality score of AITUY?
Anritsu Corporation has a Quality Score of 77/100. 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 Anritsu Corporation (AITUY)?
Our model-based price target is the fair value of $13.16 (as of Sep 13, 2026) from 22 valuation models. Cautious scenario $9.87, optimistic scenario $16.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Anritsu Corporation stock forecast for 2026?
Our models put fair value at $13.16, about −36% upside versus a price of $20.44 (overvalued). Cautious scenario $9.87, optimistic scenario $16.45. The calculation is refreshed regularly with new filings.
What is the revenue of Anritsu Corporation (AITUY)?
Anritsu Corporation reported trailing-twelve-month revenue of about ¥117B (latest available figure, as of Sep 13, 2026).
Does Anritsu Corporation pay a dividend?
Anritsu Corporation currently shows a dividend yield of about 1.12% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Anritsu Corporation (AITUY)?
For today's price to be fair in a discounted-cash-flow model, Anritsu Corporation would have to grow free cash flow by +7.9 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +1.6 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of AITUY use?
Our models discount Anritsu Corporation at 8.8 %: a base by market capitalisation (mid), damped by beta 0.64, 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 Anritsu Corporation that is +7.9 % per year a year over ten years, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has Anritsu Corporation (AITUY) delivered so far?
Over the past 4 years revenue at Anritsu Corporation grew +1.6 % a year. The price currently implies +7.9 % per year free-cash-flow growth a 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 Anritsu Corporation (AITUY) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Anritsu Corporation (+7.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Anritsu Corporation (AITUY)?
The free-cash-flow yield on the price is 4.27 %: that much free cash flow Anritsu Corporation produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Anritsu Corporation (AITUY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Anritsu Corporation it is $13.16 per share (as of Sep 13, 2026), against a price of $20.44. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Anritsu Corporation stock overvalued or undervalued in 2026?
As of Sep 13, 2026, AITUY trades above its calculated fair value: price $20.44, fair value $13.16, a gap of about −36% (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 AITUY?
No. The price is what the market pays today ($20.44); the fair value is what the company's own numbers justify ($13.16). For Anritsu Corporation the two are $7.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Anritsu Corporation worth?
The market values Anritsu Corporation at about $3.1B (market capitalisation, as of Sep 13, 2026). Per share that is $20.44; our models calculate a fair value of $13.16 per share.
What do the bullish and bearish scenarios say about AITUY?
Our models span a range for Anritsu Corporation: cautious scenario $9.87, base $13.16, optimistic $16.45 per share (as of Sep 13, 2026, price $20.44). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AITUY?
Anritsu Corporation trades at a price-to-earnings ratio of 35.9 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $13.16 is built from several models across several years. Other multiples: P/B 3.9, P/S 4.1, EV/EBITDA 20.7.
How solid is the balance sheet of Anritsu Corporation (AITUY)?
Balance-sheet figures for Anritsu Corporation (as of Sep 13, 2026): return on equity 9.1%, debt of 0.02 per unit of equity. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is AITUY from its 52-week high?
Anritsu Corporation trades at $20.44, about 21% below its 52-week high of $25.99 and 84% above the low of $11.14 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $13.16 is for.
Which stocks are comparable to Anritsu Corporation?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Teledyne Technologies Incorporated, Chroma ATE 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 Anritsu Corporation stock attractive at the current price?
The data as of Sep 13, 2026: price $20.44, calculated fair value $13.16 (−36%), Quality Score 77/100, from 22 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 AITUY calculated?
We run Anritsu Corporation through 22 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 $13.16, 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 15.8 % above its aggregate fair value. Anritsu Corporation 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 should I pay attention to with Anritsu Corporation right now?
A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case ($16.45). The favourable scenario is already priced in.

Key figures of Anritsu Corporation

How large is the market capitalisation of Anritsu Corporation (AITUY)?
The market capitalisation of Anritsu Corporation is $3.1B. 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 Anritsu Corporation (AITUY)?
The price-to-sales ratio of Anritsu Corporation is 2.94 (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 Anritsu Corporation (AITUY)?
Earnings per share at Anritsu Corporation are $0.5700 (price ÷ EPS = P/E 35.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Anritsu Corporation (AITUY)?
The dividend yield of Anritsu Corporation is 1.1% (payout 40.2%). 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 Anritsu Corporation (AITUY)?
The net margin of Anritsu Corporation is 8.2% (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 Anritsu Corporation (AITUY)?
The return on equity (ROE) of Anritsu Corporation is 9.1% (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 Anritsu Corporation (AITUY)?
On an EBIT basis the return on assets of Anritsu Corporation is 9.1% (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 Anritsu Corporation (AITUY)?
The operating margin of Anritsu Corporation is 17.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Anritsu Corporation (AITUY)?
Revenue at Anritsu Corporation is growing +13.2% versus a year earlier (3y avg +2.3%). 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 Anritsu Corporation (AITUY)?
Earnings per share at Anritsu Corporation are growing +25.4% versus a year earlier. How much earnings per share grew versus a year earlier.
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