Denka Company Limited (DENKF)
NEUTRALFundamental
52
Preço
$3411.00
Capitalização de Mercado
$293.94B
Parte 1 · Quanto vale a empresa
Visão Geral
Denka is a Japanese chemicals maker that turns basic feedstocks like acetylene and calcium carbide into a wide range of industrial materials: cement additives, synthetic rubber for hoses and gaskets, packaging film, and specialty ceramics and silica used inside semiconductor chips and their packaging. It runs its own chemical plants and sells mostly to other manufacturers, who use Denka's materials as inputs into their own products rather than to consumers directly.
Como gera receita
Revenue comes from selling bulk and specialty chemicals to industrial customers, with margins that vary widely by product: commodity items like calcium carbide compete mainly on cost against low-cost Chinese production, while niche materials for semiconductor packaging — benefiting from AI-driven chip demand — carry better margins. The company reports results across four segments, the largest by far being Polymer Solutions.
Receita por segmento
PVC-related resins and compounds used in construction and industrial applications, the group's single largest business.
Specialty ceramics, spherical silica and alumina used in semiconductor chips and packaging, a segment growing with AI-related chip demand.
Synthetic rubber (chloroprene) and cement-related infrastructure materials, sold mainly to the automotive and construction industries.
Food packaging film, diagnostic reagents and healthcare-related materials, the smallest of the four main segments.
Residual businesses not allocated to the four main reportable segments.
Vantagem competitiva
Nenhuma vantagem identificada · NenhumaMost of Denka's revenue comes from commodity chemicals — calcium carbide, PVC compounds, synthetic rubber — where Chinese producers with cheaper raw materials and electricity set the price and Denka has little room to charge a premium. The electronic-materials segment has stronger technical differentiation in semiconductor packaging materials, but it is not yet large enough to define a moat for the company as a whole.
O que impulsiona a procura
CíclicoMost of Denka's chemicals feed into cyclical end markets — automotive, construction and general electronics — so orders slow when those industries pull back on production. Its semiconductor-materials business is a partial exception, currently growing on demand tied to generative AI chip production, but it is not yet large enough to offset weakness in the bigger commodity segments.
Principais riscos
- Chloroprene plant litigation and closure — Denka's chloroprene rubber plant in LaPlace, Louisiana faced a U.S. Department of Justice complaint and EPA action over carcinogenic chloroprene emissions, and the company has since been reviewing comprehensive measures for the business, including closing the affected production.
- Structural decline in combustion-vehicle demand — The shift toward electric vehicles is reducing demand for products tied to internal-combustion engines, and Denka has already decided to exit its specialty chloroprene rubber business for automotive hoses as a result.
- Cyclical raw material and end-market exposure — Fluctuations in raw material prices and currency movements, combined with reliance on cyclical customer industries such as automotive and construction, make earnings sensitive to swings the company cannot control.
Os argumentos a favor
Buyers argue that Denka's semiconductor-materials business is becoming a meaningful, higher-margin growth engine on the back of AI-related chip demand, and that exiting declining, litigation-exposed businesses like combustion-vehicle rubber and the Louisiana chloroprene plant leaves a cleaner, more focused company behind.
Os argumentos contra
Sellers fear that most of Denka's revenue still sits in commodity chemicals facing relentless Chinese cost competition and structurally declining combustion-vehicle demand, and that the unresolved Louisiana litigation could still impose costs and reputational damage beyond what has already been recognised.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balanço & Liquidez
Receita
$384.25B
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Resultado Líquido
$15.70B
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Fluxo de Caixa Livre
-
Capital Próprio Total
$309.77B
Passivo Total
$237.88B
Rácio de Liquidez
1.27
Cobertura de Juros
-
Dívida/EBITDA
3.69
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$3000.18
Preço Atual
$3411.00
Margem de Segurança
-13.7%
Intervalo de Valor Justo
$1950.12 - $4050.25
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
18.73
ROE
2.6%
Rácio P/B
0.95
P/FCF
-
Margem Bruta
24.5%
ROIC
6.3%
Radar de Rentabilidade
Value Creation (Economic Moat)
ROIC
6.3%
WACC
6.9%
ROIC − WACC
-0.6 pp
ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.
Critérios de Análise Fundamental
Aprovado (9)
- ROIC 6.3%
- P/B Ratio 0.95
- Debt/Equity ratio
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- Analyst Consensus 69% Buy
- Earnings Surprise avg 7.8%
- Net Margin Trend 1.2% vs -3.1%
Reprovado (7)
- Price CAGR 2.06%
- Gross Margin 24.5%
- Operating Margin 1.9%
- DCF valuation (Unknown)
- ROE 5.3%
- Revenue Growth 5Y 1.6%
- Piotroski F-Score 0/9
Indisponível (11)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupações financeiras graves
Qualidade dos Resultados
Baixa qualidade: investigar a contabilidade
Diluição de Ações
A recomprar ações. Favorável ao acionista
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. Ikuo Ishida | President, CEO & Representative Director | 63 |
| Mr. Rimiru Hayashida | CSCO, CFO and SMEO of Acco, Finance, Pur., Logi. & Corporate Comm. Dept. & Director | 64 |
| Mr. Masanobu Kosaka | Managing Executive Officer, CTO & Director | 62 |
| Mr. Akinori Adachi | Executive Officer of Administrative Dept., Legal Dept., Internal Control Dept. & Secretary Dept. | - |
| Mr. Kei Hara | Managing Executive Officer and Chief Human Resource & Compliance Officer | 58 |
| Hiroyuki Yamamoto | General Manager of Corporate Communications Department | - |
| Mr. Hiroto Horiuchi | Managing Executive Officer | 58 |
| Mr. Masahide Yamada | Executive Officer & Head of New Business Development. | - |
| Masahiro Kawai | Executive Officer & MD of DCHA, DSPL, DAPL | - |
| Mr. Taro Inada | Executive Officer, GM & Head of Life Innovation | - |
Risco de Auditoria
1
Risco do Conselho
8
Risco de Remuneração
5
Risco dos Direitos dos Acionistas
1
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Latest News
Recent headlines for DENKF, sourced from Markets Gazette.