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Menicon Co (MNNLF) Fair Value & Analysis

Healthcare · US · Market cap $527M

MC Menicon Co logo Menicon Co MNNLF · US
Price$9.97
Fair Value$9.39
Upside-5.8%
Quality52/100
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Expensive Growth
Thin margins · 4.7% net margin
Moderate debt · negative free cash flow
5.38% dividend yield
Ranks above peers (6/10)
Narrow moat 37/100
Evidence: Medium Range $7.05 – $11.74 Share as image

Fair value as of: Jul 17, 2026

From 14 valuation models · updated 24 days ago

Share price +40.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from $7.05 (bear) to $11.74 (bull), base $9.39. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 52/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

$32.94 $6.74 Fair Value $9.39 Jul 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $6.74 – $32.94 · fair‑value band $7.05 – $11.74 · the $9.97 price screens above the $9.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Menicon Co (MNNLF) currently trades at $9.97, while our model-based Fair Value estimate is $9.39, implying the stock looks roughly 5.8% fairly valued today. The Quality Score stands at 52/100 (solid quality), in the Healthcare 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: medium).

Over the trailing twelve months, Menicon Co generated revenue of $126B at a net margin of 4.7%. Revenue grew 5.6% year over year. It earns a return on equity of 6.5%. Net debt stands at $24.5B. Fundamentals as of Jul 17, 2026

Our scenario range runs from $7.05 (bear case) to $11.74 (bull case); at $9.97, 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 near its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -6%, MNNLF 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
ROIC Compounder $2.79 $3.47 $4.04 72
Growth-Adj P/E $6.57 $9.39 $12.21 68
P/E Multiple $7.92 $10.57 $13.21 63
All 14 models by family
Earnings-Based
Graham-Dodd $3.59 $11.12 $14.77 54
Lynch FV $2.41 $3.44 $4.47 50
PEG = 1.0 $2.41 $3.44 $4.47 46
EPV $2.79 $3.47 $4.04 59
Multiples
P/E Multiple $7.92 $10.57 $13.21 63
P/S Multiple $6.74 $8.98 $11.23 58
P/B Multiple $6.74 $8.98 $11.23 55
EV/EBIT $10.56 $14.81 $19.06 53
EV/EBITDA $14.76 $20.41 $26.06 54
EV/Revenue $6.40 $10.09 $13.77 43
Asset-Based
NCAV (Graham) $4.05 $5.42 $8.10 50
Economic Profit
Residual Income $6.09 $6.19 $5.99 61
ROIC Compounder $2.79 $3.47 $4.04 72
Growth Earnings
Growth-Adj P/E $6.57 $9.39 $12.21 68

Widest divergence: Multiples ($10.09) versus Earnings-Based ($3.44). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Revenue (TTM) $126B
Revenue growth (YoY) +5.6%
Net margin 4.7%
Return on equity 6.5%
Free cash flow −$3.5B FY2025
P/E ratio 15.1
More key figures
Operating margin 3.9%
EPS (TTM) $0.4700
Dividend yield 5.4%
EPS growth (YoY) +136%
Net debt $24.5B FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 53 · Market factors (momentum, volatility) 82

Profitability 40
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 93
Distance to the 52-week high (market factor)
Net Issuance 83
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

Menicon Co., Ltd. manufactures and sells contact lenses and lens care products in Japan. The company offers its products to hospitals, eye clinics, contact lens retailers, eyeglass stores, and drug stores. It also exports its products. Menicon Co., Ltd. was incorporated in 1943 and is headquartered in Nagoya, Japan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Menicon Co reported revenue of $121B in FY2025 versus $86.2B in FY2021, a compound +9.0%/yr. Reported net income was $5.6B in FY2025, compounding −1.4%/yr from FY2021.

Growth Quality 41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$121B
Latest YoY
+4.6%
Avg. growth/yr (3Y)
+6.6%
Revenue +9.0%/yr
FY21 $86.2B
FY22 $100B
FY23 $110B
FY24 $116B
FY25 $121B
Net income −1.4%/yr
FY21 $6.0B
FY22 $6.5B
FY23 $7.4B
FY24 $4.5B
FY25 $5.6B

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

Peer Group

Medical Instruments & Supplies · 203 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 52 · Below median
Fair Value upside −6% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 5.4% · Top 25%
Debt / equity 0.76× · Higher than 75% of peers

Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper

P/E (TTM) 15.1× · Cheaper than 75% of peers

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 26 · sector 0
FUTURE 28 · sector 27
PAST 26 · sector 25
HEALTH 62 · sector 96
DIVIDEND 100 · sector 32

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 Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Intuitive Surgical, Inc ISRG $402.33 $150.04 -63%
EssilorLuxottica Société anonyme 1EL €172.45 €68.55 -60%
Medline Inc MDLN $41.11 $30.15 -27%
Becton, Dickinson and Company BDX $150.65 $103.53 -31%
Alcon Inc ALC $70.26 $39.78 -43%
ResMed Inc RMD $203.87 $187.89 -8%
West Pharmaceutical Services, Inc WST $353.71 $143.97 -59%
Straumann Holding STMN CHF 106.00 CHF 47.31 -55%
Sartorius Stedim Biotech S.A DIM €188.50 €51.16 -73%
Coloplast A/S COLOB kr 414.00 kr 382.22 -8%

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Frequently asked questions

Is Menicon Co (MNNLF) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $9.39 versus a price of $9.97, about −6% (fairly valued).
What is the fair value of MNNLF?
Our model-based fair value for Menicon Co is $9.39 (as of Jul 17, 2026), built from audited fundamentals. The current price is $9.97.
What is the quality score of MNNLF?
Menicon Co has a Quality Score of 52/100. 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 Menicon Co (MNNLF)?
Menicon Co reported trailing-twelve-month revenue of about $126B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of MNNLF?
The net profit margin of Menicon Co is about 4.7%, meaning it keeps roughly 4.7% of revenue as net income. Based on the latest reported figures.
Does Menicon Co pay a dividend?
Menicon Co currently shows a dividend yield of about 5.38% relative to its recent price (as of Jul 17, 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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