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Maker of multilayer printed circuit boards for automotive electronics, industrial equipment and communications gear.
Maker of multilayer printed circuit boards for automotive electronics, industrial equipment and communications gear.
Boards are designed into a customer's product and qualified before volume orders, then shipped for as long as that model is built, so sales follow auto production and the electronics content per car. Its main plants are in Japan, China and Vietnam, which adds currency and labour-cost exposure.
In one line: A smaller, Japan-based TTM Technologies.
Moat: narrow (process know-how, customer qualification). Automotive-grade PCB qualification is slow to switch once designed in.
Headquarters: Yokohama, Japan · Founded: 1975 · Employees: 14,332
Size Meiko Electronics (6787.T) is a Japan Information Technology company (Electronic Components) with a market value of $2.07B, the 468th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥20,300 on 6 Nov 2026.
Performance Over six months the shares fell 27.1%, against -22.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 22.5% over the last twelve months (peer median +26.1%); the operating margin is 9.6% (peer median 16.7%).
Valuation It trades at 10.7× forward earnings against a peer median of 30.6× (cheapest of 17).
Capital Return on invested capital runs 6.2 points below its cost of capital (12.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥261B | ¥241B | ¥207B | ¥179B | ¥167B |
| Revenue growth | — | +16% | +15% | +7% | — |
| Gross profit | ¥53.7B | ¥51.6B | ¥40.5B | ¥31.4B | ¥26.6B |
| EBITDA | ¥40.5B | ¥39.0B | ¥32.3B | ¥23.6B | ¥19.7B |
| Net income | ¥20.0B | ¥19.8B | ¥14.9B | ¥11.3B | ¥8.85B |
| Free cash flow | n/a | -¥22.3B | -¥2.74B | ¥1.91B | -¥3.14B |
| Capital expenditure | n/a | ¥50.0B | ¥24.6B | ¥21.7B | ¥19.1B |
| Total debt | ¥160B | ¥122B | ¥87.6B | ¥80.6B | ¥77.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Meiko Electronics 6787.T | $2.07B | -27% | +22% | 10% | 10.7× | n/a |
| TTM Technologies TTMI | $7.01B | -58% | +38% | 12% | 8.5× | 24.1% |
| Ibiden 4062.T | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% |
| Unimicron Technology 3037.TW | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% |
| Zhen Ding Technology Holding Lt 4958.TW | $12.8B | -12% | +5% | 9% | 18.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6787.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.3% | -17.6% | 10th highest of 21 |
| 6-month return | -27.1% | -22.6% | 8th lowest of 21 |
| Distance from 52-week high | -55.2% | -55.2% | 11th highest of 21 |
| Revenue growth (TTM) | +22.5% | +26.1% | 10th lowest of 21 |
| Operating margin | 9.6% | 16.7% | 8th lowest of 21 |
| Forward P/E | 10.7× | 30.6× | cheapest of 17 |
| ROIC minus cost of capital | -6.2 pp | -1.9 pp | 5th lowest of 21 |
| EV / EBITDA | 11.4× | 16.8× | cheapest of 4 |
| Net debt / EBITDA | 3.0× | -2.5× | most indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Meiko Electronics 6787.T | Japan | $2.07B | -27% | +22% | 10% | 10.7× | n/a | n/a |
| Dongguan Dingtong Precision Metal 688668.SS | China | $2.09B | -55% | +33% | 16% | 29.5× | n/a | n/a |
| Xiamen Leading Optics 605118.SS | China | $2.05B | -31% | +32% | 34% | n/a | 20.4% | +14.8% |
| Wuhu Token Science 300088.SZ | China | $2.03B | -18% | -15% | 0% | 31.7× | n/a | n/a |
| Electric Connector Technology 300679.SZ | China | $2.14B | -24% | 0% | 4% | 25.1× | 27.9% | +15.8% |
| Fujian Torch Electron Technology 603678.SS | China | $2.16B | -7% | +82% | 4% | 26.2× | n/a | n/a |
| Shenglan Technology 300843.SZ | China | $2.16B | +2% | +45% | 8% | 66.5× | n/a | n/a |
| Fulltech Fiber Glass 1815.TWO | Taiwan | $2.18B | +6% | +49% | 26% | 21.6× | n/a | n/a |
| Hefei Meyer Optoelectronic Technology 002690.SZ | China | $2.25B | -3% | +3% | 31% | 18.5× | 9.2% | +10.0% |
| Xiamen Hengkun New Material Technology 688727.SS | China | $2.28B | -33% | +20% | 9% | n/a | n/a | n/a |
| Jenoptik JEN.DE | Germany | $2.30B | -21% | -2% | 12% | 18.6× | 10.3% | +11.2% |
| EZconn 6442.TW | Taiwan | $2.40B | -51% | +30% | 27% | 16.2× | 15.3% | +34.3% |
| Zhuzhou Hongda Electronics 300726.SZ | China | $2.43B | -20% | +11% | 26% | 35.2× | 27.3% | +6.1% |
| Chengdu Hongming Electronics 301682.SZ | China | $1.74B | -24% | +4% | 19% | n/a | 13.0% | -6.2% |
| Ningbo Yong Xin Optics 603297.SS | China | $1.72B | -9% | +27% | 19% | 43.1× | 36.5% | +10.8% |
| Changshu Tianyin Electromechanical 300342.SZ | China | $1.72B | -60% | -6% | 1% | n/a | n/a | n/a |
| HONG RI DA Technology 301285.SZ | China | $2.50B | -22% | +14% | -13% | 424.7× | n/a | n/a |
| Aoshikang Technology 002913.SZ | China | $2.52B | +2% | +25% | 10% | 34.0× | n/a | n/a |
| Zhejiang Lante Optics 688127.SS | China | $2.56B | -45% | +59% | 31% | 27.8× | 20.5% | +28.5% |
| Hubei DOTI Micro Technology 301183.SZ | China | $1.67B | -23% | +30% | 18% | 44.7× | n/a | n/a |
| Optowide Technologies 688195.SS | China | $2.57B | -60% | +68% | 17% | 100.1× | n/a | n/a |