Fact based stock research
Aica Kogyo (TSE:4206)

JP3100800006

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Aica Kogyo stock research in summary

aica.co.jp

ANALYSIS: With an Obermatt Combined Rank of 96 (better than 96% compared with investment alternatives), Aica Kogyo (Specialty Chemicals, Japan) shares have much better financial characteristics than comparable stocks. Shares of Aica Kogyo are low in value (priced high) with a consolidated Value Rank of 45 (worse than 55% of alternatives). But they show above-average growth (Growth Rank of 81) and are safely financed (Safety Rank of 90, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 96, is a strong buy recommendation based on Aica Kogyo's financial characteristics. Investors looking for growth and low financial risk may find this stock attractive. While the company Aica Kogyo exhibits low value (Obermatt Value Rank of 45), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 81). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 90) are a double-edged sword: if the company continues growing, low debt limits shareholder returns. But if the company increases its debt, it will also increase risk. In other words, this is an investment on the safer side, despite the above-average price (low value). Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	45
Growth Rank	81
Safety Rank	90
Combined Rank	96

Country	Japan
Industry	Specialty Chemicals
Index
Size class	Medium

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Aica Kogyo

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	39	55	41	45
GROWTH
GROWTH	31	41	76	81
SAFETY
SAFETY	86	74	87	90
SENTIMENT
SENTIMENT	18	76	92	^new
360° VIEW
360° VIEW	29	65	95	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Aica Kogyo is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	39	55	41	45
GROWTH
GROWTH	31	41	76	81
SAFETY
SAFETY	86	74	87	90
COMBINED
COMBINED	52	56	74	96

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Aica Kogyo the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 45 (worse than 55% compared with alternatives), Aica Kogyo shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Aica Kogyo. Price-to-Profit (also referred to as price-earnings, P/E) is 62 which means that the stock price compared with what market professionals expect for future profits is lower than for 62% of comparable companies, indicating a good value concerning Aica Kogyo's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 26, which means that the stock price is lower as regards to invested capital than for 26% of comparable investments. On the other hand, Price-to-Sales is less favorable than 65% of alternatives (only 35% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than 40% of comparable companies, making the stock more expensive as regards to the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 45, is a hold recommendation based on Aica Kogyo's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high in respect to expected revenues, it means that the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than pay it out to shareholders, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	41	46	38	35
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	28	58	52	62
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	39	38	27	26
DIVIDEND YIELD
DIVIDEND YIELD	65	78	55	60
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	39	55	41	45

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Aica Kogyo; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 81 (better than 81% compared with alternatives) for 2025, Aica Kogyo shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all four indicators above average for Aica Kogyo. Sales Growth has a value of 71, which means that, currently, professionals expect the company to grow more than 71% of its competitors. The same is valid for Profit Growth with a value of 51 and for Capital Growth with 61. In addition, Stock Returns had an above-average rank value of 75, which means they have been higher than 75% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 81, is a buy recommendation for growth and momentum investors. Since all Growth Ranks are positive, Aica Kogyo exhibits above-average growth momentum. This could be due to a uniquely strong market position, proprietary technology, or an extensive corporate acquisition strategy. Growth investors will find this an attractive investment opportunity, unless they expect that the current phase is transitory and will deteriorate in the future. The current performance could also be a temporary recovery from a very low point, such as a turn-around situation. In the case of a turn-around, the current performance may or may not be followed by a continuing positive development. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	75	42	81	71
PROFIT GROWTH
PROFIT GROWTH	22	73	42	51
CAPITAL GROWTH
CAPITAL GROWTH	45	33	51	61
STOCK RETURNS
STOCK RETURNS	23	43	69	75
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	31	41	76	81

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Aica Kogyo.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 90 (better than 90% compared with alternatives) for 2025, the company Aica Kogyo has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Aica Kogyo is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, where all three are above average for Aica Kogyo. Leverage is at 70, meaning the company has a below-average debt-to-equity ratio. It has less debt than 70% of its competitors. Refinancing is at a rank of 61, meaning that the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 61% of its competitors. Finally, Liquidity is also good at a rank of 90, which means that the company generates more profit to service its debt than 90% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 90 (better than 90% compared with alternatives), Aica Kogyo has a financing structure that is significantly safer than that of its competitors. These three positive financing indicators signal that the company is less likely to default on its debt obligations. However, it also means that its shareholder returns will be more modest if things go well. A low safety means fewer troubles in downtimes and less upside in good times. Investors may not have a debt issue with Aica Kogyo but they should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	84	68	70	70
REFINANCING
REFINANCING	59	59	58	61
LIQUIDITY
LIQUIDITY	78	82	90	90
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	86	74	87	90

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Aica Kogyo and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	60	72	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	95	92	^new
PRO HOLDINGS
PRO HOLDINGS	30	83	91	^new
MARKET PULSE
MARKET PULSE	28	22	20	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	18	76	92	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Aica Kogyo.
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