HIKARI BUSINESS FORM CO.,LTD.

3948 TSE Materials Pulp and Paper
TSE Standard
¥1,172.00
+0.09%
Delayed · cached 15 min

Fair value analysis

3948
HIKARI BUSINESS FORM CO.,LTD.
MaterialsPulp and Paper
¥1,172.00
Close used for this calculation
¥610.26Fair value
Financial DNA Score
Profitability · Returns · Balance Sheet · Efficiency · Growth
47/100
Profitability14/25
Returns1/25
Balance Sheet23/25
Efficiency9/25
Growth17/25
Average
Quality radar
47Prof.14/25Ret.1/25Eff.9/25B.Sht23/25Growth17/25

Consensus fair value

¥610.26
Above FV
▼ -47.9% against the close used
Model range ¥200.26 – ¥1,044.70
The lowest and highest of the models that produced a value. This is the spread of the methods, not a price target.

Price target range & 52-week position

Bear¥200.26Fair value¥610.26Bull¥1,044.70
FairClose
52-week traded range
52W low ¥940.0052W high ¥1,380.00

The 52-week range is measured from the stored price history, not estimated.

Valuation summary

Trading above the consensus fair value

HIKARI BUSINESS FORM CO.,LTD. closed at ¥1,172.00, 92.0% above the consensus fair value of ¥610.26 drawn from 9 valuation models.

Financial DNA score 47/100 — Average. P/E of 42.3x against the 20x sector multiple the P/E model uses.

Quantitative summary only — not investment advice.

All valuation models

DCF Valuation
¥200.26
-82.9%
Σ[CF×(1+g)^n/(1.10)^n] + TV/(1.10)^10
g=8%, r=10%, tg=3%, n=10yr
Graham Number
¥1,044.70
-10.9%
√(22.5 × EPS × BVPS)
EPS=27.73, BVPS=1749.25 · outside Graham range (P/E 42.3, P/B 0.7) — asset-light, treat as a rough floor
P/E Fair Value
¥554.60
-52.7%
EPS × 20x (sector P/E)
EPS=27.73, Sector P/E=20x
Peter Lynch (PEG)
¥831.90
-29.0%
EPS × Growth% (PEG = 1 is fair)
EPS=27.73, g=30%
EV/EBITDA
¥725.30
-38.1%
(EBITDA × 10x − Net Debt) ÷ Shares
EBITDA=396.89M
Dividend Discount (DDM)
¥573.81
-51.0%
D1 ÷ (r − g) where D1 = D0×(1+g)
D0=45, r=10%, g=2%
Book Value (P/B)
¥279.88
-76.1%
BVPS × (ROE−g)÷(r−g) [Justified P/B — RIM-based]
BVPS=1749.25, ROE=1.6%, g=3%, r=10%
Reverse DCF
¥1,172.00
+0.0%
Solve for g: Price = Σ[EPS×(1+g)^n/(1.10)^n] + TV
Implied: 17.2% | Historical: -34.4%
Margin of Safety
¥449.89
-61.6%
Avg(DCF, Graham, P/E) × 75% (25% safety buffer)
Avg fair value=599.85, MoS=25%

Computed on September 12, 2026 from the most recent annual report on file and that day's closing price. Where a company has seen its earnings move sharply since its last annual report, this figure will lag the market.

Educational data only. Not a recommendation to buy, sell or hold any security.

Educational data only. Not a recommendation to buy, sell or hold any security.