Denka Company Limited (DENKF)
Valor JustoFundamental
65
Precio
$3217.00
Capitalización Bursátil
$289.63B
Parte 1 · Cuánto vale la empresa
Resumen
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.
Cómo genera ingresos
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.
Ingresos 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.
Ventaja competitiva
Sin ventaja identificada · NingunaMost 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.
Qué impulsa la demanda
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.
Riesgos clave
- 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.
Los 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.
Los argumentos en 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
Generated on 18 de septiembre de 2026 with claude-haiku-4-5 — shared with all users
Tosoh sells chloroprene rubber under the Skyprene brand to the same automotive-parts, belt, cable and adhesive makers Denka supplies, and overlaps again in chlor-alkali chemicals and clinical diagnostic systems.
Resonac has made polychloroprene in Japan since the 1960s for the same glove, adhesive and waterproofing customers, and competes with Denka a second time in materials for semiconductor packaging and electronic components.
ARLANXEO's Baypren range is the main non-Japanese source of high-grade chloroprene rubber and bids for the same European cable, belt and wetsuit accounts Denka targets.
China's largest chloroprene rubber producer competes with Denka on commodity grades, where Chinese capacity has been taking volume in Asian markets.
Kaneka sells functional and foamed resins, films and life-science products into the same packaging, construction and medical-device customers as Denka's polymer and life-innovation businesses.
Balance y Liquidez
Ingresos
$387.15B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Beneficio Neto
$13.53B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Flujo de Caja Libre
$-31.49B
Patrimonio Neto Total
$310.71B
Pasivo Total
$342.18B
Ratio de Liquidez
1.41
Cobertura de Intereses
12.46
Deuda/EBITDA
4.52
Beneficio Por Acción
Ingresos y Beneficio Neto
Flujo de Caja Libre
Desglose de Ingresos
Estado histórico
Márgenes en el tiempo
La deuda en el tiempo
Cuánto pesa la deuda
Cuadro de crecimiento
Crecimiento — Ingresos
Estimación de Valor Justo
Valor Justo
$3016.94
Precio Actual
$3217.00
Margen de Seguridad
-6.6%
Rango de Valor Justo
$1961.01 - $4072.87
Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.
Métodos de Estimación
Métricas de Valoración
Ratio P/E
20.49
ROE
5.1%
Ratio P/B
0.90
P/FCF
-
Margen Bruto
26.6%
ROIC
4.2%
Radar de Rentabilidad
Creación de Valor (Ventaja Competitiva)
ROIC
4.2%
WACC
6.6%
ROIC − WACC
-2.4 pp
El ROIC está por debajo del coste del capital: la empresa destruye valor por cada dólar invertido.
Criterios de Análisis Fundamental
Superado (14)
- EPS shows upward trend
- EPS CAGR 7.14%
- P/B Ratio 0.90
- Debt/Equity ratio
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Price below Graham Number
- Analyst Consensus 77% Buy
- Earnings Surprise avg 7.8%
- Earnings Quality (OCF/NI) 2.30
- Share Dilution 0.0%
- Net Margin Trend 4.1% vs -3.1%
- Piotroski F-Score 8/9
Fallido (8)
- Price CAGR 1.86%
- ROIC 4.2%
- Gross Margin 26.6%
- Operating Margin 3.5%
- Positive Free Cash Flow
- DCF valuation (Unknown)
- ROE 4.5%
- Revenue Growth 5Y 1.6%
No disponible (6)
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Return on Tangible Assets
- Low reliance on intangibles
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Solidez financiera fuerte
Calidad de los Beneficios
Alta calidad: beneficios respaldados por efectivo
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Participaciones institucionales
No hay declaraciones institucionales para esta empresa.
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| 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 | - |
Riesgo de Auditoría
1
Riesgo del Consejo
8
Riesgo de Compensación
5
Riesgo de Derechos del Accionista
1
Parte 2 · El precio y el momento de entrar
Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.
Latest News
Recent headlines for DENKF, sourced from Markets Gazette.