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TDK Corp 6762

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Stock XTKS Rating as of
JPY 10,740.00 −100.00 (0.92%)
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As of Delayed Price Closed
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Company Report

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MLCC Utilization to Pick Up Toward the End of 2024 for Passive Components Suppliers

Kazunori Ito

TDK is one of the top suppliers of passive components, especially focusing on the automobile industry. We estimate that TDK’s market shares in multilayer ceramic capacitors, or MLCCs, and inductors for automobiles are approximately 20% and 50%, respectively. While we expect electronic devices per automobile to continue increasing, owing to the progress of safety and environmental regulations, there are still a limited number of component manufacturers that could meet tough requirements of automakers. Therefore, we expect TDK to remain one of the beneficiaries of auto digitalization.

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Price vs Fair Value

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6762 is trading within a range we consider fairly valued.
Price
JPY 10,740.00
Fair Value
JPY 9,477.00
Uncertainty
High
1-Star Price
JPY 56,153.00
5-Star Price
JPY 7,259.00
Economic Moat
Hhxw
Capital Allocation
Rmvswnqv

Bulls Say, Bears Say

Bulls

TDK will maintain its position as the global top supplier of passive components for automobiles and will benefit from increasing electronic devices per car.

Bears

Contraction of the HDD market could be faster than the market expectation, which is the risk factor for TDK’s profitability.

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Trading Information

Previous Close Price
JPY 10,840.00
Day Range
JPY 10,685.00–10,990.00
52-Week Range
JPY 4,787.00–10,990.00
Bid/Ask
JPY 10,690.00 / JPY 10,745.00
Market Cap
JPY 4.07 Tril
Volume/Avg
1.8 Mil / 2.1 Mil

Key Statistics

Price/Earnings (Normalized)
33.13
Price/Sales
1.94
Dividend Yield (Trailing)
1.08%
Dividend Yield (Forward)
1.12%
Total Yield
1.08%

Company Profile

Founded in 1935, TDK has its origin in magnetic materials, being the first company to commercialize ferrite in the world, and it used to be known as one of the major cassette-tape manufacturers. TDK is now the only external supplier for magnetic recording heads for hard disk drives, and the company intends to expand its magnetic sensor business for handsets and automobiles by leveraging its expertise. It is also one of the global top suppliers of passive components for autos and polymer rechargeable batteries for smartphones. The company acquired InvenSense in 2017, making it one of the largest MEMS sensor companies in the world.
Sector
Technology
Industry
Electronic Components
Stock Style Box
Large Growth
Total Number of Employees
102,908
Website
http://www.tdk.co.jp

Competitors

Valuation

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Metric
6762
6981
6976
Price/Earnings (Normalized)
 33.1332.6866.87
Price/Book Value
 2.392.651.71
Price/Sales
 1.944.121.84
Price/Cash Flow
 12.5117.4313.59
Price/Earnings
6762
6981
6976

Financial Strength

Metric
6762
6981
6976
Quick Ratio
 1.242.942.14
Current Ratio
 1.704.723.46
Interest Coverage
 5.74145.4417.83
Quick Ratio
6762
6981
6976

Profitability

Metric
6762
6981
6976
Return on Assets (Normalized)
 4.00%7.36%2.51%
Return on Equity (Normalized)
 8.35%8.83%4.25%
Return on Invested Capital (Normalized)
 5.50%8.00%2.93%
Return on Assets
6762
6981
6976
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