Ricoh Co. Ltd. (RICO) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Ricoh Co. Ltd. ¥1,799, price ¥1,661, upside +8.4%, quality 60 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 24, 2026.
How to read this chart
60‑month range ¥566.94 – ¥1,726 · fair‑value band ¥1,257 – ¥2,389 · the ¥1,661 price screens below the ¥1,799 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Ricoh Company, Ltd., together with its subsidiaries, develops, manufactures, and sells digital products and services in Japan, the Americas, Europe, the Middle East, Africa, China, South East Asia, and Oceania. It operates through Digital Services, Digital Products, Graphic Communications, Industrial Solutions, and Other segments.
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Ricoh Company, Ltd., together with its subsidiaries, develops, manufactures, and sells digital products and services in Japan, the Americas, Europe, the Middle East, Africa, China, South East Asia, and Oceania. It operates through Digital Services, Digital Products, Graphic Communications, Industrial Solutions, and Other segments. The company engages in the production, original equipment manufacturing, and sale of multifunctional printers (MFPs), laser printers, digital duplicators, wide format printers, facsimile machines, network equipment, and related parts and supplies; production and sale of scanners, auto ID systems, electronic components, and related parts and supplies; sale of personal computers and servers; and provision of software and support services, and solutions related to documents. It also produces and sells cut sheet printers, continuous feed printers, inkjet heads, imaging systems, industrial printers, and related parts and supplies. In addition, the company produces and sells thermal paper and media products, industrial optical components/modules, and precision mechanical components, as well as offers digital cameras, 360°cameras, and environment and healthcare products. Further, it provides embedded computers; inkjet inks; automation equipment and various inspection systems for the automotive industry; digital services in the areas of process automation, workplace experience, and IT services; contents service platform; and advertising and printing services, as well as constructs IT infrastructure; and maintains scanners. The company was formerly known as Riken Optical Co., Ltd. and changed its name to Ricoh Company, Ltd. in 1963. Ricoh Company, Ltd. was incorporated in 1936 and is headquartered in Tokyo, Japan.
Stock analysis
Ricoh Co. Ltd. (RICO) currently trades at ¥1,661, while our model-based Fair Value estimate is ¥1,799, so the stock looks roughly fairly valued today (gap 7.7%).
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥2,145 per share, and 15 of the 24 models we run sit above the ¥1,661 price.
Bear case: the Dividend Discount group reads lowest at ¥451.99, and 9 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥1,257 (bear) to ¥2,389 (bull), the price of ¥1,661 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 60/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Ricoh Co. Ltd. reported revenue of ¥2.6T in FY2026 versus ¥1.8T in FY2022, a compound +10.4%/yr. Reported net income was ¥55.7B in FY2026, compounding +16.4%/yr from FY2022.
Key figures
Market cap ¥947B (≈ $6.0B) · P/E ratio 0.2 · EPS (TTM) ¥97.62 · Dividend yield 2.4% · Net margin 2.1% · Return on equity 5.1% · Return on assets (EBIT) 2.8% · Operating margin 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at 8%, RICO screens cheaper than that median.
Fair Value models
Bear ¥1,257Fair Value ¥1,799Bull ¥2,389
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. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (¥28.26 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.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.74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.2%
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.
+6.9%
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.
+9.2%
Start year 2021 (pandemic). Over 10 years: +1.7% a year
Revenue growth 27 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.
+2.3%
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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.
+16.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.3%
Dividend (yield on the price)2.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.14.3% vs 1.2%, picking up
Profit margin 2021 to 2026 ⓘ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.−3% → 3%
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.Business Equipment & Supplies · 73 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+8.4% · Above median
Profitability
Return on equity (TTM)5.1% · Above median
Return on assets2.3% · Below median
Net margin (TTM)2.1% · Below median
Operating margin (TTM)2.8% · Below median
Growth and dividend
Revenue growth4.8% · Above median
Dividend yield (TTM)2.4% · Below median
Balance sheet
Debt / equity0.26× · Highest 25%
Valuation Multiplesvs Business Equipment & Supplies median · lower = cheaper
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Is Ricoh Co. Ltd. (RICO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥1,799 versus the last price from Sep 18, 2026 of ¥1,661, about +8% upside (fairly valued).
What is the fair value of RICO?
Our model-based fair value for Ricoh Co. Ltd. is ¥1,799 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 18, 2026): ¥1,661.
What is the quality score of RICO?
Ricoh Co. Ltd. has a Quality Score of 60/100. 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 Ricoh Co. Ltd. (RICO)?
Our model-based price target is the fair value of ¥1,799 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ¥1,257, optimistic scenario ¥2,389. It is a calculation from audited fundamentals, not an analyst target.
What is the Ricoh Co. Ltd. stock forecast for 2026?
Our models put fair value at ¥1,799, about +8% upside versus the last price from Sep 18, 2026 of ¥1,661 (fairly valued). Cautious scenario ¥1,257, optimistic scenario ¥2,389. The calculation is refreshed regularly with new filings.
What is the revenue of Ricoh Co. Ltd. (RICO)?
Ricoh Co. Ltd. reported trailing-twelve-month revenue of about ¥2.6T (latest available figure, as of Sep 24, 2026).
Does Ricoh Co. Ltd. pay a dividend?
Ricoh Co. Ltd. currently shows a dividend yield of about 2.41% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Ricoh Co. Ltd. (RICO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ricoh Co. Ltd. it is ¥1,799 per share (as of Sep 24, 2026), against a price of ¥1,661. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Ricoh Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, RICO trades below its calculated fair value: price ¥1,661, fair value ¥1,799, a gap of about +8% (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 RICO?
No. The price is what the market pays today (¥1,661); the fair value is what the company's own numbers justify (¥1,799). For Ricoh Co. Ltd. the two are ¥138.69 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ricoh Co. Ltd. worth?
The market values Ricoh Co. Ltd. at about ¥947B (market capitalisation, as of Sep 24, 2026). Per share that is ¥1,661; our models calculate a fair value of ¥1,799 per share.
What do the bullish and bearish scenarios say about RICO?
Our models span a range for Ricoh Co. Ltd.: cautious scenario ¥1,257, base ¥1,799, optimistic ¥2,389 per share (as of Sep 24, 2026, price ¥1,661). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RICO?
Ricoh Co. Ltd. trades at a price-to-earnings ratio of 0.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥1,799 is built from several models across several years. Other multiples: EV/EBITDA 0.7.
How solid is the balance sheet of Ricoh Co. Ltd. (RICO)?
Balance-sheet figures for Ricoh Co. Ltd. (as of Sep 24, 2026): return on equity 5.1%, debt of 0.26 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is RICO from its 52-week high?
Ricoh Co. Ltd. trades at ¥1,661, about 2% below its 52-week high of ¥1,698 and 32% above the low of ¥1,262 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1,799 is for.
Which stocks are comparable to Ricoh Co. Ltd.?
From the same area (Industrials) we also value GRG Banking Equipment Co, Shanghai M&G Stationery Inc, XGD Inc, DOMS Industries Limited, 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 Ricoh Co. Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price ¥1,661, calculated fair value ¥1,799 (+8%), Quality Score 60/100, from 24 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 RICO calculated?
We run Ricoh Co. Ltd. through 24 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 ¥1,799, 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. Ricoh Co. Ltd. currently trades 8 % below its own fair value, and the market average says nothing about that. 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 Ricoh Co. Ltd. (RICO)?
The latest price we hold is from Sep 18, 2026 and stands at ¥1,661. Our model-based fair value is ¥1,799, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ricoh 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 (¥1,257 to ¥2,389) leaves room in how you read the outcome.
Where does the earnings growth of Ricoh Co. Ltd. (RICO) come from?
Earnings per share at Ricoh Co. Ltd. grew +3.2 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.0 %, EBIT margin −4.1 %, tax rate +0.5 %, residual (interest, one-offs) +2.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Ricoh Co. Ltd.
How large is the market capitalisation of Ricoh Co. Ltd. (RICO)?
The market capitalisation of Ricoh Co. Ltd. is ¥947B (≈ $6.0B). 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 are the earnings per share of Ricoh Co. Ltd. (RICO)?
Earnings per share at Ricoh Co. Ltd. are ¥97.62 (price ÷ EPS = P/E 0.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ricoh Co. Ltd. (RICO)?
The dividend yield of Ricoh Co. Ltd. is 2.4% (payout 41.0%). 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 Ricoh Co. Ltd. (RICO)?
The net margin of Ricoh Co. Ltd. is 2.1% (fiscal year 2026). 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 Ricoh Co. Ltd. (RICO)?
The return on equity (ROE) of Ricoh Co. Ltd. is 5.1% (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 Ricoh Co. Ltd. (RICO)?
On an EBIT basis the return on assets of Ricoh Co. Ltd. is 2.8% (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 Ricoh Co. Ltd. (RICO)?
The operating margin of Ricoh Co. Ltd. is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ricoh Co. Ltd. (RICO)?
Revenue at Ricoh Co. Ltd. is growing +4.8% versus a year earlier (3y avg +6.9%). 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 Ricoh Co. Ltd. (RICO)?
Earnings per share at Ricoh Co. Ltd. are growing −50.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ricoh Co. Ltd. (RICO) generate?
The free cash flow of Ricoh Co. Ltd. is ¥109B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ricoh Co. Ltd. (RICO) carry?
The net debt of Ricoh Co. Ltd. is ¥315B (fiscal year 2026, ≈ 2.9 yrs of FCF). 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 24, 2026