ULVAC Inc (ULVAF) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of ULVAC Inc stock $52.07, price $42.06, upside +23.8%, quality 60 out of 100. Rating: undervalued. Calculated from audited financials with 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 7, 2026.
How to read this chart
60‑month range $21.39 – $62.00 · fair‑value band $36.45 – $67.69 · the $42.06 price screens below the $52.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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ULVAC, Inc. engages in the vacuum equipment and applications business in Japan and internationally.
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The company offers various equipment, such as micro powder dry system, native oxide removal system, diffusion furnace, vacuum melting furnace, integrated system, sputtering system, PE-CVD system, evaporation system, ashing system, dry etching system, ion implantation system, vacuum furnace, and lyophilizer; components, including vacuum pumps, vacuum gauge, gas analyzer, leak detector, spectroscopic ellipsometer, deposition controller, vacuum valve, power supply for plasma generation, vacuum-deposition electron beam source, vacuum transfer robot, film forming equipment, cryogenic equipment; and various materials, as well as provides maintenance services.
Its products have different applications, such as thin-film lithium ion secondary battery, LCD, OLED, touch panel, research and development equipment for display, photovoltaic, rare earth magnet, automotive parts, capacitors, packaging materials, decorative coating, pharmaceutical, aviation parts, vacuum interrupter, wafer, brazed heat exchangers, vacuum flask, VCSEL, SOI/LNOI, communication, semiconductor, LED device, power device, packaging device, MEMS Device, optical film, and magnetic device.
ULVAC, Inc. was incorporated in 1929 and is headquartered in Chigasaki, Japan.
Stock analysis
ULVAC Inc (ULVAF) currently trades at $42.06, while our model-based Fair Value estimate is $52.07, implying the stock looks roughly 19% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $65.43 per share, and 13 of the 26 models we run sit above the $42.06 price.
Bear case: the Dividend Discount group reads lowest at $14.16, and 13 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $36.45 (bear) to $67.69 (bull), the price of $42.06 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.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
ULVAC Inc reported revenue of ¥269B in FY2026 versus ¥241B in FY2022, a compound +2.8%/yr. Reported net income was ¥17.1B in FY2026, compounding −4.1%/yr from FY2022.
Key figures
Market cap $2.1B Mid · P/E ratio 18.7 · P/S ratio 1.19 · EPS (TTM) $2.25 · Dividend yield 2.3% · Net margin 6.4% · Return on equity 7.8% · Return on assets (EBIT) 6.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 24%, ULVAF screens cheaper than that median.
Fair Value models
Bear$36.45Fair Value $52.07Bull$67.69
Price $42.06 · Upside +23.8%
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 2026 figures (about 4 months old). Earnings retained since then ($0.4632 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.63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.1%
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.
+5.8%
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.
+8.0%
Start year 2021 (pandemic). Over 10 years: +3.4% a year
Revenue growth 11 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.
+3.8%
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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.
+5.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.9%
Dividend (yield on the price)2.3%
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.9% → 7%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +4.4% a year for the price and +2.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (9 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: Core strength is supply of vacuum systems for non-Chinese rare earth magnet lines serving defense and automotive demand, yet limited data and lack of a clear moat leave durability uncertain amid moderate margins and low ROE.
Main risk: If the magnet equipment segment remains only a smaller part of the portfolio the contribution to overall profits and margins in the specialty machinery business would stay limited.
ULVAC supplies the vacuum furnaces and systems at the core of non-Chinese rare earth magnet production lines. Recent equipment deliveries to a new facility in Korea underscore exposure to defense and automotive demand shifting away from China ahead of 2027 restrictions. Our models see the stock as overvalued, yet does the magnet equipment segment scale into a major profit driver or stay a smaller part of the broader specialty machinery portfolio?
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.Specialty Industrial Machinery · 814 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+23.8% · Top 25%
Profitability
Return on equity (12 months)7.8% · Above median
Return on assets4.1% · Above median
Net margin (12 months)6.4% · Above median
Operating margin (12 months)6.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)22.1% · Top 25%
Dividend yield (12 months)2.3% · Above median
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
P/E (12 months)18.7× · Cheaper than median
P/B1.36× · Cheaper than median
P/S (12 months)1.22× · Cheaper than median
Price / free cash flow (fiscal year)18.8× · Cheaper than median
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). "ULVAC Inc Fair Value". https://www.fairvalue-calculator.com/stock/ULVAF
Frequently asked questions
Is ULVAC Inc (ULVAF) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $52.07 versus a price of $42.06, about +24% upside (undervalued).
What is the fair value of ULVAF?
Our model-based fair value for ULVAC Inc is $52.07 (as of Nov 7, 2026), built from audited fundamentals. The current price: $42.06.
What is the quality score of ULVAF?
ULVAC Inc 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 ULVAC Inc (ULVAF)?
Our model-based price target is the fair value of $52.07 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario $36.45, optimistic scenario $67.69. It is a calculation from audited fundamentals, not an analyst target.
What is the ULVAC Inc stock forecast for 2026?
Our models put fair value at $52.07, about +24% upside versus a price of $42.06 (undervalued). Cautious scenario $36.45, optimistic scenario $67.69. The calculation is refreshed regularly with new filings.
What is the revenue of ULVAC Inc (ULVAF)?
ULVAC Inc reported trailing-twelve-month revenue of about ¥269B (latest available figure, as of Nov 7, 2026).
Does ULVAC Inc pay a dividend?
ULVAC Inc currently shows a dividend yield of 2.28% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of ULVAC Inc (ULVAF) and when is the ex-dividend date?
ULVAC Inc pays a dividend of $0.959 per share a year, a dividend yield of 2.3%. The next ex-dividend date is Jun 29, 2027. A dividend has been paid every year since at least 2019. The payout ratio is 43.7% of earnings. Free cash flow covers the dividend 2.33 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into ULVAC Inc (ULVAF)?
For today's price to be fair in a discounted-cash-flow model, ULVAC Inc would have to grow free cash flow by +6.6 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.0 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of ULVAF use?
Our models discount ULVAC Inc at 10.6 %: a base by market capitalisation (mid), damped by beta 1.34, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ULVAC Inc that is +6.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has ULVAC Inc (ULVAF) delivered so far?
Over the past 5 years revenue at ULVAC Inc grew +8.0 % a year. The price currently implies free-cash-flow growth of +6.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ULVAC Inc (ULVAF) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into ULVAC Inc (+6.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ULVAC Inc (ULVAF)?
The free-cash-flow yield on the price is 5.32 %: that much free cash flow ULVAC Inc produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ULVAC Inc (ULVAF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ULVAC Inc it is $52.07 per share (as of Nov 7, 2026), against a price of $42.06. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is ULVAC Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ULVAF trades below its calculated fair value: price $42.06, fair value $52.07, a gap of about +24% (undervalued). 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 ULVAF?
No. The price is what the market pays today ($42.06); the fair value is what the company's own numbers justify ($52.07). For ULVAC Inc the two are $10.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is ULVAC Inc worth?
The market values ULVAC Inc at about $2.1B (market capitalisation, as of Nov 7, 2026). Per share that is $42.06; our models calculate a fair value of $52.07 per share.
What do the bullish and bearish scenarios say about ULVAF?
Our models span a range for ULVAC Inc: cautious scenario $36.45, base $52.07, optimistic $67.69 per share (as of Nov 7, 2026, price $42.06). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ULVAF?
ULVAC Inc trades at a price-to-earnings ratio of 18.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $52.07 is built from several models across several years. Other multiples: P/B 1.4, P/S 1.2, EV/EBITDA 8.5.
How solid is the balance sheet of ULVAC Inc (ULVAF)?
Balance-sheet figures for ULVAC Inc (as of Nov 7, 2026): return on equity 7.8%, debt of 0.14 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is ULVAF from its 52-week high?
ULVAC Inc trades at $42.06, about 32% below its 52-week high of $62.00 and at the low of $42.06 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $52.07 is for.
Which stocks are comparable to ULVAC Inc?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin 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 ULVAC Inc stock attractive at the current price?
The data as of Nov 7, 2026: price $42.06, calculated fair value $52.07 (+24%), Quality Score 60/100, from 26 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 ULVAF calculated?
We run ULVAC Inc through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $52.07 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 13.0% above its aggregate fair value. ULVAC Inc currently trades 19% 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 ULVAC Inc (ULVAF)?
The closing price on Nov 6, 2026 was $42.06. Our model-based fair value is $52.07, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ULVAC Inc right now?
Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($36.45 to $67.69) leaves room in how you read the outcome.
Key figures of ULVAC Inc
How large is the market capitalisation of ULVAC Inc (ULVAF)?
The market capitalisation of ULVAC Inc 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 ULVAC Inc (ULVAF)?
The price-to-sales ratio of ULVAC Inc is 1.19 (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 ULVAC Inc (ULVAF)?
Earnings per share at ULVAC Inc are $2.25 (price ÷ EPS = P/E 18.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ULVAC Inc (ULVAF)?
The dividend yield of ULVAC Inc is 2.3% (payout 42.6%). 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 ULVAC Inc (ULVAF)?
The net margin of ULVAC Inc is 6.4% (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 ULVAC Inc (ULVAF)?
The return on equity (ROE) of ULVAC Inc is 7.8% (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 ULVAC Inc (ULVAF)?
On an EBIT basis the return on assets of ULVAC Inc is 6.7% (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 ULVAC Inc (ULVAF)?
The operating margin of ULVAC Inc is 6.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ULVAC Inc (ULVAF)?
Revenue at ULVAC Inc is growing +22.1% versus a year earlier (3y avg +5.8%). 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 ULVAC Inc (ULVAF)?
Earnings per share at ULVAC Inc are growing +123% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 7, 2026