WATCH Central Glass Co., Ltd. (4044.T)
Basic Materials · Specialty Chemicals · JPX · Japan
58
Final Score
26.7%
Margin of Safety
42
Quality Score
¥4,630
Current Price
¥114.8B
Market Cap
Key Metrics
Pe Ratio
13.72
Forward Pe
11.36
Pb Ratio
0.90
Ev Ebitda
5.92
Gross Margin
0.0%
Operating Margin
10.5%
Net Margin
0.0%
Dividend Yield
372.0%
Debt To Equity
21.70
Current Ratio
2.54
📈 Trend Charts
Revenue Trend
EPS Trend
Net Income Trend
Free Cash Flow Trend
Intrinsic Value Estimates
Low
¥5,055
Base
¥6,318
High
¥7,582
Pipeline Stage Details
Stage A — Hard Filters ✅
Pe Ratio
13.72
Eps Positive Years
4.00
Eps Lookback
4.00
Fcf Positive Years
4.00
Fcf Lookback
4.00
Debt To Equity
0.22
Current Ratio
2.54
Dilution Cagr
0.00
Stage B — Quality Score: 42/100
Stage C — Cyclicality: MED
Normalized EPS
¥573.04
Stage F — Final Score Breakdown
| Component | Weighted Score |
|---|---|
| Valuation | 16.5 |
| Earnings Quality | 10.4 |
| Balance Sheet | 18.0 |
| Stability | 8.2 |
| Moat Proxies | 5.2 |
Top Drivers
- Modest discount: 27% margin of safety (price ¥4,630 vs intrinsic ¥6,318).
- Reasonable P/E of 13.7x — below long-run market average (~15-17x), suggesting the stock is not overpriced.
- Fortress balance sheet: D/E of 0.22x (conservative) and current ratio of 2.54x — ample liquidity and low financial risk. Graham emphasis on capital preservation.
- Strong free cash flow generation — the company converts earnings into real cash effectively, supporting dividends, buybacks, and debt reduction.
Top Risks
- Moderate cyclicality (Cyclical sector: Basic Materials) — earnings may fluctuate.
- Quality concern: Operating margin in structural decline
- Quality concern: Revenue declining: -5.1% CAGR
Financial History
| Year | Revenue | Gross Profit | Operating Income | Net Income | EPS |
|---|---|---|---|---|---|
| 2022 | N/A | N/A | N/A | N/A | ¥N/A |
| 2023 | ¥169.3B | ¥43.0B | ¥16.8B | ¥42.5B | ¥1,222.21 |
| 2024 | ¥160.3B | ¥42.4B | ¥14.5B | ¥12.5B | ¥503.55 |
| 2025 | ¥144.2B | ¥39.4B | ¥10.6B | ¥5.7B | ¥229.14 |
| 2026 | ¥144.5B | ¥38.6B | ¥10.0B | ¥8.4B | ¥337.27 |
Cash Flow History
| Year | Operating CF | CapEx | Free Cash Flow |
|---|---|---|---|
| 2022 | N/A | N/A | N/A |
| 2023 | ¥16.6B | ¥-6.4B | ¥10.2B |
| 2024 | ¥22.2B | ¥-7.1B | ¥15.1B |
| 2025 | ¥23.6B | ¥-5.6B | ¥18.0B |
| 2026 | ¥26.4B | ¥-9.4B | ¥17.1B |