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Kokuyo Co (KUKYF) Fair Value & Analysis

Industrials · US · Market cap $2.4B

KC Kokuyo Co logo Kokuyo Co KUKYF · US
Price$5.59
Fair Value$4.70
Upside-15.9%
Quality51/100
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Expensive Growth
Thin margins · 5.9% net margin
Low debt · generates free cash flow
2.69% dividend yield
Ranks above peers (9/11)
Narrow moat 42/100
Evidence: High Range $3.29 – $6.49 Share as image

Fair value as of: Jul 19, 2026

From 22 valuation models · updated 22 days ago

A solid business, but screening 16% overvalued on our models.

What matters now

  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($3.29 to $6.49) leaves room in how you read the outcome.
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Price vs Fair Value (21 months)

$895,642 $3.53 Fair Value $4.70 Nov 2024 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

21‑month range $3.53 – $895,642 · fair‑value band $3.29 – $6.49 · the $5.59 price screens above the $4.70 fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Kokuyo Co (KUKYF) currently trades at $5.59, while our model-based Fair Value estimate is $4.70, implying the stock looks roughly 15.9% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Kokuyo Co generated revenue of $368B at a net margin of 5.9%. Revenue grew 8.7% year over year. It earns a return on equity of 8.3%. The stock trades on a trailing P/E of 20.0. Fundamentals as of Jul 19, 2026

Our scenario range runs from $3.29 (bear case) to $6.49 (bull case); at $5.59, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 67% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -32% fair-value upside, at -16%, KUKYF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $1.79 $2.00 $2.28 80
ROIC Compounder $4.30 $4.98 $5.78 72
Growth-Adj P/E $4.18 $5.97 $7.76 68
All 22 models by family
DCF Models
FCF DCF $1.78 $2.01 $2.34 38
Owner Earnings $4.36 $5.77 $7.74 31
5Y Revenue Exit $3.69 $5.53 $7.87 39
5Y EBITDA Exit $4.43 $6.86 $9.66 41
5Y P/E Exit $4.41 $6.83 $9.32 38
10Y Revenue Exit $2.85 $4.32 $6.28 36
10Y EBITDA Exit $3.41 $5.21 $7.59 37
10Y P/E Exit $3.40 $5.19 $7.33 35
Earnings-Based
Graham-Dodd $2.30 $6.09 $7.96 54
PEG = 1.0 $1.17 $1.68 $2.18 46
EPV $4.24 $4.71 $5.12 59
Multiples
P/E Multiple $5.33 $7.11 $8.88 63
P/S Multiple $4.31 $5.75 $7.19 58
P/B Multiple $4.31 $5.75 $7.19 55
EV/EBIT $6.55 $8.31 $10.06 53
EV/EBITDA $6.63 $8.42 $10.21 54
EV/Revenue $5.04 $6.65 $8.26 43
Asset-Based
NCAV (Graham) $1.98 $2.66 $3.97 50
Growth DCF
Growth DCF $1.79 $2.00 $2.28 80
Economic Profit
Residual Income $3.30 $3.55 $4.14 61
ROIC Compounder $4.30 $4.98 $5.78 72
Growth Earnings
Growth-Adj P/E $4.18 $5.97 $7.76 68

Widest divergence: Multiples ($6.65) versus Growth DCF ($2.00). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $368B
Revenue growth (YoY) +8.7%
Net margin 5.9%
Return on equity 8.3%
Free cash flow $3.1B FY2025
P/E ratio 20.0
More key figures
Operating margin 12.8%
EPS (TTM) $0.2800
Dividend yield 2.7%
EPS growth (YoY) +6.2%

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 60

Profitability 54
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Kokuyo Co., Ltd., together with its subsidiaries, manufactures, purchases, and sells office furniture products in Japan and internationally. The company operates in four segments: Furniture Business, Business Supply Distribution Business, Stationery Business, and Interior Retail Business.

Full company description

Kokuyo Co., Ltd., together with its subsidiaries, manufactures, purchases, and sells office furniture products in Japan and internationally. The company operates in four segments: Furniture Business, Business Supply Distribution Business, Stationery Business, and Interior Retail Business. It offers office and public furniture, office supplies, stationery, and rear and household goods. The company also engages in wholesale, delivery, and assembly of interior and furniture; notebooks, writing instruments, and art supplies, with the Campus brand; procures and sells interior and lifestyle goods, operating instores and e-commerce stores; work style consulting; proposal and support system for stationery and office supplies; development and sale of creative picture book series and tools for creativity; and document digitization services, as well as spatial design and construction for offices, medical and educational institutions, public offices, and agencies. In addition, it is involved in the transportation and storage of products; sale of paper products; provision of outsourcing services for general affairs and other administrative tasks; furniture and building materials installation; procurement and leasing of office equipment; mail order sales of office supplies; and non-life insurance agency business. The company was formerly known as Kuroda Kokkodo Co., Ltd. and changed its name to Kokuyo Co., Ltd. in January 1961. Kokuyo Co., Ltd. was founded in 1905 and is headquartered in Kita, Japan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kokuyo Co reported revenue of $360B in FY2025 versus $320B in FY2021, a compound +3.0%/yr. Reported net income was $21.5B in FY2025, compounding +11.9%/yr from FY2021.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$360B
Latest YoY
+6.2%
Avg. growth/yr (3Y)
+6.1%
Avg. growth/yr (5Y)
+3.7%
Revenue +3.0%/yr
FY21 $320B
FY22 $301B
FY23 $329B
FY24 $339B
FY25 $360B
Net income +11.9%/yr
FY21 $13.7B
FY22 $18.2B
FY23 $19.1B
FY24 $21.8B
FY25 $21.5B

KUKYF screens 16% overvalued. Compare with Ricoh Company →

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Cite: Fair Value Calculator (2026). "Kokuyo Co Fair Value". https://www.fairvalue-calculator.com/stock/KUKYF

Peer Group

Business Equipment & Supplies · 73 stocks

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.

Quality Score 51 · Below median
Fair Value upside −16% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 13% · Top 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 2.7% · Above median

Valuation Multiples vs Business Equipment & Supplies median · lower = cheaper

P/E (TTM) 20.0× · Cheaper than median
P/FCF 0.8× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 12 · sector 33
FUTURE 44 · sector 18
PAST 33 · sector 20
HEALTH 100 · sector 98
DIVIDEND 54 · sector 52

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Ricoh Company RICO ¥15.33 ¥17.99 +17%
GRG Banking Equipment Co 002152 ¥10.08 ¥6.90 -32%
Shanghai M&G Stationery Inc 603899 ¥21.45 ¥30.05 +40%
XGD Inc 300130 ¥19.90 ¥15.67 -21%
DOMS Industries Limited DOMS ₹2,260 ₹782.96 -65%
Hengbao Co 002104 ¥9.20 ¥1.66 -82%
Shaanxi Fenghuo Electronics Co 000561 ¥6.99 ¥1.75 -75%
Shenzhen Comix Group 002301 ¥7.30 ¥3.11 -57%
Shandong New Beiyang Information Technology Co 002376 ¥6.00 ¥1.73 -71%
Qingdao Hiron Commercial Cold Chain Co 603187 ¥11.92 ¥21.12 +77%

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Frequently asked questions

Is Kokuyo Co (KUKYF) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of $4.70 versus a price of $5.59, about −16% (overvalued).
What is the fair value of KUKYF?
Our model-based fair value for Kokuyo Co is $4.70 (as of Jul 19, 2026), built from audited fundamentals. The current price is $5.59.
What is the quality score of KUKYF?
Kokuyo Co has a Quality Score of 51/100. 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 revenue of Kokuyo Co (KUKYF)?
Kokuyo Co reported trailing-twelve-month revenue of about $368B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of KUKYF?
The net profit margin of Kokuyo Co is about 5.9%, meaning it keeps roughly 5.9% of revenue as net income. Based on the latest reported figures.
Does Kokuyo Co pay a dividend?
Kokuyo Co currently shows a dividend yield of about 2.69% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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