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Maruwa Co (MRUWY) Fair Value & Analysis

Technology · US · Market cap $192M

MC Maruwa Co logo Maruwa Co MRUWY · US
Price$14.35
Fair Value$15.23
Upside+6.1%
Quality54/100
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Expensive Growth
Highly profitable · 24.5% net margin
Low debt · negative free cash flow
0.08% dividend yield
Ranks above peers (11/12)
Wide moat 77/100
Evidence: Medium Range $11.42 – $19.03 Share as image

Fair value as of: Aug 19, 2026

From 15 valuation models · updated yesterday

Share price +6.1% 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 $11.42 (bear) to $19.03 (bull), base $15.23. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 54/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (4 months)

$19.99 $12.22 Fair Value $15.23 Apr 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 19, 2026.

How to read this chart

4‑month range $12.22 – $19.99 · fair‑value band $11.42 – $19.03 · the $14.35 price screens below the $15.23 fair value. As of Aug 19, 2026.

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Analysis

Maruwa Co (MRUWY) currently trades at $14.35, while our model-based Fair Value estimate is $15.23, implying the stock looks roughly 6.1% fairly valued today. The Quality Score stands at 54/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Maruwa Co generated revenue of $74.5B at a net margin of 24.4%. Revenue grew 18.9% year over year. It earns a return on equity of 13.2%. The stock trades on a trailing P/E of 1.6 (as of Aug 19, 2026). Fundamentals as of Aug 19, 2026

Our scenario range runs from $11.42 (bear case) to $19.03 (bull case); at $14.35, 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 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -68% fair-value upside, at 6%, MRUWY 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 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
Highest evidence
ROIC Compounder $13.53 $15.23 $17.00 72
Growth-Adj P/E $14.90 $21.29 $27.68 68
P/E Multiple $18.00 $24.00 $30.00 63
All 15 models by family
DCF Models
Owner Earnings $4.74 $4.94 $5.18 31
Earnings-Based
Graham-Dodd $7.77 $24.29 $32.32 54
Lynch FV $5.30 $7.57 $9.83 50
PEG = 1.0 $5.30 $7.57 $9.83 46
EPV $13.09 $14.16 $15.02 59
Multiples
P/E Multiple $18.00 $24.00 $30.00 63
P/S Multiple $5.62 $7.50 $9.37 58
P/B Multiple $14.57 $19.43 $24.28 55
EV/EBIT $24.26 $30.94 $37.62 53
EV/EBITDA $22.82 $29.02 $35.22 54
EV/Revenue $9.15 $11.26 $13.36 43
Asset-Based
NCAV (Graham) $4.63 $6.21 $9.27 50
Economic Profit
Residual Income $7.77 $8.63 $11.85 61
ROIC Compounder $13.53 $15.23 $17.00 72
Growth Earnings
Growth-Adj P/E $14.90 $21.29 $27.68 68

Widest divergence: Growth Earnings ($21.29) versus DCF Models ($4.94). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) $74.5B
Revenue growth (YoY) +18.9%
Net margin 24.4%
Return on equity 13.2%
Free cash flow −¥5.6B FY2026
P/E ratio 1.6 as of Aug 19, 2026
More key figures
Operating margin 35.5%
EPS (TTM) $9.54
Dividend yield 0.1%
EPS growth (YoY) +10.5%

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 54 · Market factors (momentum, volatility) 30

Profitability 58
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 16
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 82
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

Maruwa Co.,Ltd. produces and sells ceramics and electronic parts in Japan and internationally. It operates through Ceramic Components Business and Lighting Equipment segments.

Full company description

Maruwa Co.,Ltd. produces and sells ceramics and electronic parts in Japan and internationally. It operates through Ceramic Components Business and Lighting Equipment segments. The company offers ceramics, including ceramic substrates and fillers, metalized/multilayer ceramic substrates, pressed ceramic products, ceramic hermetic seals, and ultra-high purity SiC components; and electronic components and devices, such as antennas, EMC and RF components, and capacitors. It also provides semiconductor products comprising quartz glass products, including quartz tubes and boats; and aluminum nitride components. In addition, the company offers LED lighting products comprising LED streetlights, LED tunnel lights, and LED landscape lights; and technical consultation services. Its products are used in automotive, telecommunications, semiconductors, industrial equipment, and lighting applications. The company was formerly known as Maruwa Ceramic Co., Ltd. and changed its name to Maruwa Co., Ltd. in 1999. Maruwa Co.,Ltd. was incorporated in 1973 and is headquartered in Owariasahi, Japan.

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

Revenue & earnings trend

FY2023 – FY2026 · reported fiscal years

Maruwa Co reported revenue of ¥74.5B in FY2026 versus ¥58.8B in FY2023, a compound +8.2%/yr. Reported net income was ¥18.2B in FY2026, compounding +6.5%/yr from FY2023.

Growth Quality 48/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
¥74.5B
Latest YoY
+3.7%
Avg. growth/yr (3Y) 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.
+8.2%
Revenue +8.2%/yr
FY23 ¥58.8B
FY24 ¥61.6B
FY25 ¥71.8B
FY26 ¥74.5B
Net income +6.5%/yr
FY23 ¥15.0B
FY24 ¥15.2B
FY25 ¥19.2B
FY26 ¥18.2B

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

Peer Group

Electronic Components · 649 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 54 · Above median
Fair Value upside +6% · Top 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth 12% · Above median
Dividend yield (TTM) 0.1% · Bottom 25%

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 1.6× · Cheaper than 75% of peers
P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.40× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE41 · sector 0
FUTURE59 · sector 37
PAST53 · sector 24
HEALTH100 · sector 95
DIVIDEND2 · sector 24

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,790 TWD 602.37 TWD -66%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 -31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW -88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 -90%
Shengyi Technology Co 600183 ¥143.23 ¥36.30 -75%
Victory Giant Technology (HuiZhou) Co 2476 HK$238.60 HK$75.68 -68%
Kingboard Laminates Holdings 1888 HK$38.70 HK$8.95 -77%
Asia Vital Components Co 3017 2,910 TWD 1,369 TWD -53%
Nan Ya Printed Circuit Board Corporation 8046 1,215 TWD 1,768 TWD +46%
Zhen Ding Technology Holding 4958 477.50 TWD 136.13 TWD -71%

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Frequently asked questions

Is Maruwa Co (MRUWY) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of $15.23 versus a price of $14.35, about +6% (fairly valued).
What is the fair value of MRUWY?
Our model-based fair value for Maruwa Co is $15.23 (as of Aug 19, 2026), built from audited fundamentals. The current price: $14.35.
What is the quality score of MRUWY?
Maruwa Co has a Quality Score of 54/100. 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 Maruwa Co (MRUWY)?
Maruwa Co reported trailing-twelve-month revenue of about $74.5B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of MRUWY?
The net profit margin of Maruwa Co is about 24.4%, meaning it keeps roughly 24.4% of revenue as net income. Based on the latest reported figures.
Does Maruwa Co pay a dividend?
Maruwa Co currently shows a dividend yield of about 0.08% relative to its recent price (as of Aug 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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