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DENSO Corporation 6902.T

JP · Tokyo Stock Exchange · XTKS · stock · Consumer Cyclical · website

DENSO Corporation statistics & valuation

Market cap¥4.90T
P / E11.0×
P / S0.6×
P / B0.9×
P / FCF63.7×
Net margin5.9%
FCF margin1.0%
Net cash¥377.8B
Enterprise value USD$28.5B
Earnings yield EBIT/EV12.2%
Return on capital8.2%
Graham number +45.1%¥2,834.23

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 (¥2,834.23); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
4.90% 4.40% 5.90% 5.90% 2023202420252026
Gross margin (%)
14.20% 15.30% 15.40% 15.50% 2023202420252026
Operating margin (%)
6.70% 5.30% 7.20% 7.30% 2023202420252026
Return on equity (%)
7.20% 5.70% 8.40% 8.10% 2023202420252026
Shares outstanding
2.51B 2.51B 2.51B 2.51B 2023202420252026
Net debt (¥)
¥155.42B ¥61.33B -¥287.15B -¥377.84B 2023202420252026
Share buybacks (¥)
¥100.01B ¥200.02B ¥270.00B ¥253.36B 2023202420252026
Return on assets (%)
4.20% 3.40% 5.20% 5.10% 2023202420252026
Free cash flow margin (%)
2.90% 7.20% 4.40% 1.00% 2023202420252026
Debt / equity (×)
0.20× 0.15× 0.14× 0.15× 2023202420252026
EPS (¥)
¥104.00 ¥104.97 ¥210.74 ¥162.96 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

DENSO Corporation trades at about 12× earnings — below its 10-year norm (10-year range 8.8×–25.6×, median 19.6×).

8.8× 25.6×

Shaded band = 10-year range (8.8×–25.6×); dot = today's 12×.

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 margin15.5%15.4%15.3%14.2%
Operating margin7.3%7.2%5.3%6.7%
Net margin5.9%5.9%4.4%4.9%
FCF margin1.0%4.4%7.2%2.9%
Return on assets5.1%5.2%3.4%4.2%
Return on equity8.1%8.4%5.7%7.2%
Debt / equity0.10×0.09×0.09×0.13×
Current ratio2.091.851.791.82

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