Menicon Co. Ltd (MNNLF) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Menicon Co. Ltd $9.24, price $9.97, upside -7.3%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 23, 2026.
How to read this chart
60‑month range $6.74 – $32.94 · fair‑value band $6.47 – $12.01 · the $9.97 price screens above the $9.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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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.
Stock analysis
Menicon Co. Ltd (MNNLF) currently trades at $9.97, while our model-based Fair Value estimate is $9.24, implying the stock looks roughly 7.9% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $9.24 per share, and 4 of the 14 models we run sit above the $9.97 price.
Bear case: the Earnings-Based group reads lowest at $3.11, and 10 of the 14 models stay below the price. Evidence for this calculation is high.
Scenario range: $6.47 (bear) to $12.01 (bull), the price of $9.97 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 52/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Menicon Co. Ltd 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.
Key figures
Market cap $757M · P/E ratio 21.2 · P/S ratio 0.98 · EPS (TTM) $0.4700 · Dividend yield 5.4% · Net margin 4.6% · Return on equity 6.5% · Return on assets (EBIT) 6.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades at 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 −12% fair-value upside, at −7%, MNNLF screens cheaper than that median.
Fair Value models
Bear $6.47Fair Value $9.24Bull $12.01
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.
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.41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.6%
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.
+6.6%
’21
’22
’23
’24
’25
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.
+4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.2%
Dividend (yield on the price)5.4%
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.9% → 8%
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.Medical Instruments & Supplies · 203 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−7% · Above median
Profitability
Return on equity (TTM)7% · Above median
Return on assets3% · Above median
Net margin (TTM)5% · Below median
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth6% · Below median
Dividend yield (TTM)5.4% · Top 25%
Balance sheet
Debt / equity0.76× · Highest 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
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Is Menicon Co. Ltd (MNNLF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $9.24 versus a price of $9.97, about −7% upside (fairly valued).
What is the fair value of MNNLF?
Our model-based fair value for Menicon Co. Ltd is $9.24 (as of Sep 23, 2026), built from audited fundamentals. The current price: $9.97.
What is the quality score of MNNLF?
Menicon Co. Ltd 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 price target for Menicon Co. Ltd (MNNLF)?
Our model-based price target is the fair value of $9.24 (as of Sep 23, 2026) from 14 valuation models. Cautious scenario $6.47, optimistic scenario $12.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Menicon Co. Ltd stock forecast for 2026?
Our models put fair value at $9.24, about −7% upside versus a price of $9.97 (fairly valued). Cautious scenario $6.47, optimistic scenario $12.01. The calculation is refreshed regularly with new filings.
What is the revenue of Menicon Co. Ltd (MNNLF)?
Menicon Co. Ltd reported trailing-twelve-month revenue of about ¥126B (latest available figure, as of Sep 23, 2026).
Does Menicon Co. Ltd pay a dividend?
Menicon Co. Ltd currently shows a dividend yield of about 5.38% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Menicon Co. Ltd (MNNLF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Menicon Co. Ltd it is $9.24 per share (as of Sep 23, 2026), against a price of $9.97. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Menicon Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MNNLF trades above its calculated fair value: price $9.97, fair value $9.24, a gap of about −7% (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 MNNLF?
No. The price is what the market pays today ($9.97); the fair value is what the company's own numbers justify ($9.24). For Menicon Co. Ltd the two are $0.7250 per share apart. That gap is exactly why we show both numbers side by side.
How much is Menicon Co. Ltd worth?
The market values Menicon Co. Ltd at about $757M (market capitalisation, as of Sep 23, 2026). Per share that is $9.97; our models calculate a fair value of $9.24 per share.
What do the bullish and bearish scenarios say about MNNLF?
Our models span a range for Menicon Co. Ltd: cautious scenario $6.47, base $9.24, optimistic $12.01 per share (as of Sep 23, 2026, price $9.97). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MNNLF?
Menicon Co. Ltd trades at a price-to-earnings ratio of 21.2 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $9.24 is built from several models across several years. Other multiples: P/B 1.4, P/S 1.0, EV/EBITDA 6.8.
How solid is the balance sheet of Menicon Co. Ltd (MNNLF)?
Balance-sheet figures for Menicon Co. Ltd (as of Sep 23, 2026): return on equity 6.5%, debt of 0.76 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is MNNLF from its 52-week high?
Menicon Co. Ltd trades at $9.97, at its 52-week high of $9.97 and 48% above the low of $6.74 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $9.24 is for.
Which stocks are comparable to Menicon Co. Ltd?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Medline Inc, Becton, Dickinson and Company, 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 Menicon Co. Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price $9.97, calculated fair value $9.24 (−7%), Quality Score 52/100, from 14 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 MNNLF calculated?
We run Menicon Co. Ltd through 14 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 $9.24, 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 14.1 % above its aggregate fair value. Menicon 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 Menicon Co. Ltd (MNNLF)?
The closing price on Sep 18, 2026 was $9.97. Our model-based fair value is $9.24, about −7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Menicon Co. Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($6.47 to $12.01) leaves room in how you read the outcome.
Key figures of Menicon Co. Ltd
How large is the market capitalisation of Menicon Co. Ltd (MNNLF)?
The market capitalisation of Menicon Co. Ltd is $757M. 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 Menicon Co. Ltd (MNNLF)?
The price-to-sales ratio of Menicon Co. Ltd is 0.98 (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 Menicon Co. Ltd (MNNLF)?
Earnings per share at Menicon Co. Ltd are $0.4700 (price ÷ EPS = P/E 21.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Menicon Co. Ltd (MNNLF)?
The dividend yield of Menicon Co. Ltd is 5.4% (payout 114%). 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 Menicon Co. Ltd (MNNLF)?
The net margin of Menicon Co. Ltd is 4.6% (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 Menicon Co. Ltd (MNNLF)?
The return on equity (ROE) of Menicon Co. Ltd is 6.5% (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 Menicon Co. Ltd (MNNLF)?
On an EBIT basis the return on assets of Menicon Co. Ltd is 6.4% (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 Menicon Co. Ltd (MNNLF)?
The operating margin of Menicon Co. Ltd is 3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Menicon Co. Ltd (MNNLF)?
Revenue at Menicon Co. Ltd is growing +5.6% versus a year earlier (3y avg +6.6%). 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 Menicon Co. Ltd (MNNLF)?
Earnings per share at Menicon Co. Ltd are growing +136% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Menicon Co. Ltd (MNNLF) generate?
The free cash flow of Menicon Co. Ltd is −¥3.5B (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 Menicon Co. Ltd (MNNLF) carry?
The net debt of Menicon Co. Ltd is ¥24.5B (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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Broad data
Sep 23, 2026