Murata Manufacturing is a top supplier of passive components, such as the multilayer ceramic capacitor, or MLCC, (40% global share), and surface acoustic wave, or SAW, filters (40%-45% global share). While we acknowledge that shipments of digital devices are slowing down, we believe progress in telecommunications technology will be the driver to increase content per device.
Murata will benefit from the increasing demand for passive components per phone, as a result of advancing telecommunications technology. In particular, the diffusion of LTE and LTE-Advanced networks will be the driver.
The average pricing of smartphones has been gradually decreasing since 2012, and the profitability of handset makers is declining as a result. Consequently, price-cutting pressure on components will strengthen.
|
Metric
|
6981
|
KYOAY
|
6976
|
|---|---|---|---|
Price/Earnings (Normalized) | 57.26 | 33.97 | 82.89 |
Price/Book Value | 4.92 | 1.47 | 3.13 |
Price/Sales | 7.36 | 2.32 | 3.57 |
Price/Cash Flow | 30.95 | 19.76 | 18.93 |
|
Metric
|
6981
|
KYOAY
|
6976
|
|---|---|---|---|
Quick Ratio | 3.18 | 1.73 | 1.99 |
Current Ratio | 5.00 | 2.86 | 3.40 |
Interest Coverage | 88.38 | 8.73 | 11.19 |
|
Metric
|
6981
|
KYOAY
|
6976
|
|---|---|---|---|
Return on Assets (Normalized) | 8.85% | 3.02% | — |
Return on Equity (Normalized) | 10.36% | 4.20% | — |
Return on Invested Capital (Normalized) | 9.37% | 2.65% | — |
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1-Day Chart
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Morningstar Rating for Stocks
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United States