Stocktoria

Advantest Corporation 6857.T

JP · Tokyo Stock Exchange · XTKS · stock · Technology · website

Advantest Corporation statistics & valuation

Market cap¥26.70T
P / E71.1×
P / S23.7×
P / B33.6×
P / FCF89.2×
Net margin33.3%
FCF margin26.5%
Net cash¥319.8B
Enterprise value USD$166.2B
Earnings yield EBIT/EV1.9%
Graham number -90.3%¥3,562.55

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (¥3,562.55); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
23.30% 12.80% 20.70% 33.30% 2023202420252026
Gross margin (%)
57.00% 50.60% 57.10% 64.30% 2023202420252026
Operating margin (%)
29.90% 16.80% 29.30% 44.20% 2023202420252026
Return on equity (%)
35.40% 14.40% 31.80% 47.20% 2023202420252026
Shares outstanding
724.1M 724.1M 724.1M 724.1M 2023202420252026
Net debt (¥)
-¥34.69B -¥12.26B -¥169.04B -¥319.77B 2023202420252026
Share buybacks (¥)
¥50.04B ¥17.0M ¥50.08B ¥114.33B 2023202420252026
Return on assets (%)
21.70% 9.30% 18.90% 32.00% 2023202420252026
Free cash flow margin (%)
8.30% 2.50% 34.20% 26.50% 2023202420252026
Debt / equity (×)
0.14× 0.22× 0.18× 0.03× 2023202420252026
EPS (¥)
¥173.68 ¥84.16 ¥218.67 ¥513.30 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Advantest Corporation trades at about 71.8× earnings — above its 10-year norm (10-year range 15.2×–59.4×, median 55.1×).

15.2× 71.8×

Shaded band = 10-year range (15.2×–59.4×); dot = today's 71.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin64.3%57.1%50.6%57.0%
Operating margin44.2%29.3%16.8%29.9%
Net margin33.3%20.7%12.8%23.3%
FCF margin26.5%34.2%2.5%8.3%
Return on assets32.0%18.9%9.3%21.7%
Return on equity47.2%31.8%14.4%35.4%
Debt / equity0.00×0.00×0.17×0.05×

Computed from company filings · JP · as of 2026-03-31. Figures in JPY. Facts plus Stocktoria's own computed scores — not investment advice.