Micronics Japan Co., Ltd. (MJPNF) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Micronics Japan Co., Ltd. stock $54.56, price $55.04, that is 0.9% below the price, quality 59 out of 100. Rating: fairly valued. 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 14, 2026.
How to read this chart
33‑month range $18.47 – $102.65 · fair‑value band $40.92 – $68.20 · the $55.04 price screens above the $54.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 14, 2026.
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Micronics Japan Co., Ltd. develops, manufactures, and sells body measuring equipment, semiconductor, and liquid crystal display inspection equipment worldwide.
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It offers semiconductor products that include probe cards, wafer prober, accessories or options and maintenance parts, semiconductor test equipment, and test sockets. The company also provides probe units flat panel display products.
The company was formerly known as Towa Electric Co., Ltd. and changed its name to Micronics Japan Co., Ltd. in April 1975. Micronics Japan Co., Ltd. was incorporated in 1970 and is headquartered in Musashino, Japan.
Stock analysis
Micronics Japan Co., Ltd. (MJPNF) currently trades at $55.04, while our model-based Fair Value estimate is $54.56, so the stock looks roughly fairly valued today (gap 0.9%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $65.37 per share, and 5 of the 16 models we run sit above the $55.04 price.
Bear case: the Dividend Discount group reads lowest at $5.68, and 11 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: $40.92 (bear) to $68.20 (bull), the price of $55.04 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 59/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Micronics Japan Co., Ltd. reported revenue of ¥70.2B in FY2025 versus ¥40.0B in FY2021, a compound +15.1%/yr. Reported net income was ¥12.1B in FY2025, compounding +10.0%/yr from FY2021.
Key figures
Market cap $2.1B Mid · P/E ratio 17.6 · P/S ratio 3.02 · EPS (TTM) $3.13 · Dividend yield 8.2% · Net margin 17.2% · Return on equity 26.2% · Return on assets (EBIT) 15.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 87 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 35% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −1%, MJPNF screens cheaper than that median.
Fair Value models
Bear$40.92Fair Value $54.56Bull$68.20
Price $55.04 · Downside -0.9%
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 2025 figures (about 10 months old). Earnings retained since then ($2.73 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+26.1%
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.
+16.6%
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.
+17.3%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in JPY (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+44.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+36.3%
Dividend (yield on the price)8.2%
Profit margin 2020 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.7% → 24%
2025 sits 59% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
News mood ⓘNews mood, the average tone of recent news (4 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.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Leading position in DRAM probe cards fuels record sales from AI-driven memory demand, while negative free cash flow and a loss-making equipment segment limit visibility into a durable moat.
Main risk: Heavy reliance on the cyclical memory probe card niche exposes the business to fluctuations in semiconductor capital spending that would hit revenue and margins.
Micronics Japan earns almost all its revenue from probe cards for semiconductor wafer testing, with memory cards for DRAM and HBM driving record sales amid generative AI demand. Capacity expansions supported the August upward revision to full-year guidance, yet the test equipment segment remains loss-making. Will its No.1 position in DRAM probe cards translate into broader, sustainable profits, or will the business stay tied to one cyclical niche?
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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.Semiconductor Equipment & Materials · 248 stocks
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). "Micronics Japan Co., Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/MJPNF
Frequently asked questions
Is Micronics Japan Co., Ltd. (MJPNF) overvalued or undervalued?
As of Nov 14, 2026, our model estimates a fair value of $54.56 versus the last price from Nov 5, 2026 of $55.04, about 1% lower (fairly valued).
What is the fair value of MJPNF?
Our model-based fair value for Micronics Japan Co., Ltd. is $54.56 (as of Nov 14, 2026), built from audited fundamentals. Last price (from Nov 5, 2026): $55.04.
What is the quality score of MJPNF?
Micronics Japan Co., Ltd. has a Quality Score of 59/100. 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 Micronics Japan Co., Ltd. (MJPNF)?
Our model-based price target is the fair value of $54.56 (as of Nov 14, 2026) from 16 valuation models. Cautious scenario $40.92, optimistic scenario $68.20. It is a calculation from audited fundamentals, not an analyst target.
What is the Micronics Japan Co., Ltd. stock forecast for 2026?
Our models put fair value at $54.56, about 1% lower versus the last price from Nov 5, 2026 of $55.04 (fairly valued). Cautious scenario $40.92, optimistic scenario $68.20. The calculation is refreshed regularly with new filings.
What is the revenue of Micronics Japan Co., Ltd. (MJPNF)?
Micronics Japan Co., Ltd. reported trailing-twelve-month revenue of about ¥86.3B (latest available figure, as of Nov 14, 2026).
Does Micronics Japan Co., Ltd. pay a dividend?
Micronics Japan Co., Ltd. currently shows a dividend yield of 8.21% relative to its recent price (as of Nov 14, 2026).
How much is the dividend of Micronics Japan Co., Ltd. (MJPNF) and when is the ex-dividend date?
Micronics Japan Co., Ltd. has a dividend yield of 8.2%. The next ex-dividend date is Dec 29, 2026. The payout ratio is 22.4% 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 Micronics Japan Co., Ltd. (MJPNF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Micronics Japan Co., Ltd. it is $54.56 per share (as of Nov 14, 2026), against a price of $55.04. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Micronics Japan Co., Ltd. stock overvalued or undervalued in 2026?
As of Nov 14, 2026, MJPNF trades above its calculated fair value: price $55.04, fair value $54.56, a gap of about −1% (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 MJPNF?
No. The price is what the market pays today ($55.04); the fair value is what the company's own numbers justify ($54.56). For Micronics Japan Co., Ltd. the two are $0.4800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Micronics Japan Co., Ltd. worth?
The market values Micronics Japan Co., Ltd. at about $2.1B (market capitalisation, as of Nov 14, 2026). Per share that is $55.04; our models calculate a fair value of $54.56 per share.
What do the bullish and bearish scenarios say about MJPNF?
Our models span a range for Micronics Japan Co., Ltd.: cautious scenario $40.92, base $54.56, optimistic $68.20 per share (as of Nov 14, 2026, price $55.04). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MJPNF?
Micronics Japan Co., Ltd. trades at a price-to-earnings ratio of 17.6 (as of Nov 14, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $54.56 is built from several models across several years. Other multiples: P/B 5.2, P/S 4.0, EV/EBITDA 10.4.
How solid is the balance sheet of Micronics Japan Co., Ltd. (MJPNF)?
Balance-sheet figures for Micronics Japan Co., Ltd. (as of Nov 14, 2026): return on equity 26.2%, debt of 0.09 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is MJPNF from its 52-week high?
Micronics Japan Co., Ltd. trades at $55.04, about 46% below its 52-week high of $102.65 and 35% above the low of $40.68 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of $54.56 is for.
Which stocks are comparable to Micronics Japan Co., Ltd.?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 Micronics Japan Co., Ltd. stock attractive at the current price?
The data as of Nov 14, 2026: price $55.04, calculated fair value $54.56 (−1%), Quality Score 59/100, 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 MJPNF calculated?
We run Micronics Japan 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 $54.56 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. Micronics Japan 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 Micronics Japan Co., Ltd. (MJPNF)?
The latest price we hold is from Nov 5, 2026 and stands at $55.04. Our model-based fair value is $54.56, about 1% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Micronics Japan Co., Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Micronics Japan Co., Ltd.
How large is the market capitalisation of Micronics Japan Co., Ltd. (MJPNF)?
The market capitalisation of Micronics Japan Co., Ltd. is $2.1B. 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 Micronics Japan Co., Ltd. (MJPNF)?
The price-to-sales ratio of Micronics Japan Co., Ltd. is 3.02 (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 Micronics Japan Co., Ltd. (MJPNF)?
Earnings per share at Micronics Japan Co., Ltd. are $3.13 (price ÷ EPS = P/E 17.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Micronics Japan Co., Ltd. (MJPNF)?
The dividend yield of Micronics Japan Co., Ltd. is 8.2% (payout 144%). 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 Micronics Japan Co., Ltd. (MJPNF)?
The net margin of Micronics Japan Co., Ltd. is 17.2% (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 Micronics Japan Co., Ltd. (MJPNF)?
The return on equity (ROE) of Micronics Japan Co., Ltd. is 26.2% (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 Micronics Japan Co., Ltd. (MJPNF)?
On an EBIT basis the return on assets of Micronics Japan Co., Ltd. is 15.1% (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 Micronics Japan Co., Ltd. (MJPNF)?
The operating margin of Micronics Japan Co., Ltd. is 35.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Micronics Japan Co., Ltd. (MJPNF)?
Revenue at Micronics Japan Co., Ltd. is growing +48.8% versus a year earlier (3y avg +16.6%). 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 Micronics Japan Co., Ltd. (MJPNF)?
Earnings per share at Micronics Japan Co., Ltd. are growing +128% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Micronics Japan Co., Ltd. (MJPNF) generate?
The free cash flow of Micronics Japan Co., Ltd. is −¥6.5B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Nov 14, 2026