Fact based stock research
Oji Paper (TSE:3861)

JP3174410005

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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.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Oji Paper stock research in summary

ojiholdings.co.jp

ANALYSIS: With an Obermatt Combined Rank of 44 (worse than 56% compared with investment alternatives), Oji Paper (Paper Products, Japan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Oji Paper are a good value (attractively priced) with a consolidated Value Rank of 67 (better than 67% of alternatives), show above-average growth (Growth Rank of 53) but are riskily financed (Safety Rank of 35), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 44, is a hold recommendation based on Oji Paper's financial characteristics. As the company Oji Paper's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 67) and above-average growth (Obermatt Growth Rank of 53), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 35) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. 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	67
Growth Rank	53
Safety Rank	35
Combined Rank	44

Country	Japan
Industry	Paper Products
Index	Water Efficiency, Nikkei 225
Size class	X-Large

This stock has achievements: Top 10 Stock.

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

Further information

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Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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

Research History: Oji Paper

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	77	85	79	67
GROWTH
GROWTH	47	39	75	53
SAFETY
SAFETY	39	51	23	35
SENTIMENT
SENTIMENT	79	34	75	^new
360° VIEW
360° VIEW	83	49	76	^new

Most recent update of the stock research: 15-May-2025. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Oji Paper is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	77	85	79	67
GROWTH
GROWTH	47	39	75	53
SAFETY
SAFETY	39	51	23	35
COMBINED
COMBINED	61	61	64	44

Last update of combined financial performance: 15-May-2025. Stock analysis on combined financial performance: The higher the rank of Oji Paper the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 67 (better than 67% compared with alternatives), Oji Paper shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Oji Paper. Price-to-Sales (P/S) is 71, which means that the stock price compared with what market professionals expect for future sales is lower than for 71% of comparable companies, indicating a good value regarding Oji Paper's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 71% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 74. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 49% of all competitors have even lower dividend yields than Oji Paper (a Dividend Yield Rank of 49). 51% alternative investments in the same business provide a higher dividend yield. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 67, is a buy recommendation based on Oji Paper's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	76	80	75	71
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	84	89	67	71
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	73	90	78	74
DIVIDEND YIELD
DIVIDEND YIELD	45	56	65	49
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	77	85	79	67

Last update of Value Rank: 15-May-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Oji Paper; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 53 (better than 53% compared with alternatives), Oji Paper shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Oji Paper. Profit Growth has a rank of 60, which means that currently professionals expect the company to grow its profits more than 60% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 85 (above 85% of alternative investments). But Sales Growth has a below the median rank of 18, which means that, currently, professionals expect the company to grow less than 82% of its competitors, and Capital Growth also has a lower rank of 36. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 53, is a buy recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Oji Paper. 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, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	33	44	94	18
PROFIT GROWTH
PROFIT GROWTH	62	52	61	60
CAPITAL GROWTH
CAPITAL GROWTH	64	49	17	36
STOCK RETURNS
STOCK RETURNS	15	35	81	85
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	47	39	75	53

Last update of Growth Rank: 15-May-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Oji Paper.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 35 (better than 35% compared with alternatives), the company Oji Paper has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Oji Paper is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Oji Paper. Liquidity is at 57, meaning the company generates more profit to service its debt than 57% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 23, which means that the portion of the debt that is about to be refinanced is above average. It has more debt in the refinancing stage than 77% of its competitors. Leverage is also high at a rank of 39, which means that the company has an above-average debt-to-equity ratio. It has more debt than 61% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 35 (worse than 65% compared with alternatives), Oji Paper has a financing structure that is riskier than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	34	34	41	39
REFINANCING
REFINANCING	53	35	6	23
LIQUIDITY
LIQUIDITY	32	61	52	57
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	39	51	23	35

Last update of Safety Rank: 15-May-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Oji Paper 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	42	32	^new
OPINIONS CHANGE
OPINIONS CHANGE	23	6	77	^new
PRO HOLDINGS
PRO HOLDINGS	82	59	91	^new
MARKET PULSE
MARKET PULSE	44	46	30	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	79	34	75	^new

Last update of Sentiment Rank: 15-May-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Oji Paper.
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