Top 20 Japanese stocks by Free cash flow yield — as of 2026-09-03
We screened 77 Japanese stocks by Free cash flow yield and publish the top 20. As of 2026-09-03, market median 3.9%. Formula and limitations included.
- Universe
- 77
- Market median
- 3.9%
- Top decile cutoff
- 16.1%
| Rank | Stock | FCF yield |
|---|---|---|
| 1 | ＨＯＵＳＥＩ5035.T | 39.6% |
| 2 | 山陰合同銀行8381.T | 33.8% |
| 3 | 楽天銀行5838.T | 31.6% |
| 4 | 大成温調1904.T | 28.6% |
| 5 | 太平洋セメント5233.T | 25% |
| 6 | クワザワホールディングス8104.T | 24.8% |
| 7 | クロップス9428.T | 20.6% |
| 8 | ダイダン1980.T | 16.7% |
| 9 | リスキル291A.T | 15.6% |
| 10 | 巴コーポレーション1921.T | 14.6% |
| 11 | ＡＮＡホールディングス9202.T | 13.8% |
| 12 | 東急9005.T | 13.6% |
| 13 | 三社電機製作所6882.T | 13.5% |
| 14 | ＣＲＩ・ミドルウェア3698.T | 13.5% |
| 15 | 昭和システムエンジニアリング4752.T | 11.7% |
| 16 | アクシアル リテイリング8255.T | 11.4% |
| 17 | 第一ライフグループ8750.T | 10.4% |
| 18 | ＴＢＫ7277.T | 10.3% |
| 19 | ＭＳ＆ＡＤインシュアランスグループホールディングス8725.T | 9.5% |
| 20 | ＢＡＳＥ4477.T | 9% |
As of 2026-09-03
What this metric measures
Free cash flow yield is a company's annual free cash flow divided by its market capitalisation. A company worth $10 billion that generated $800 million of free cash yields 8%. Unlike accounting profit it measures cash actually left in hand, which filters out companies that report earnings without generating cash.
How we calculate it
Operating cash flow minus capital expenditure, divided by market capitalisation. Companies without cash flow statement data are excluded.
Limitations of this list
Free cash flow swings with the capital expenditure cycle. It turns negative in heavy investment years and looks artificially strong when investment is deferred, so a single year can make an under-investing company appear healthy.
Frequently asked questions
What free cash flow yield indicates a cheap stock?
Start by comparing it to the government bond yield. With a 10-year yield of 3%, an 8% FCF yield implies a 5 percentage point risk premium. Above 5% is generally treated as cheap relative to cash generation, though companies with no growth also screen well.
How is FCF yield different from dividend yield?
Dividend yield counts cash actually paid out; FCF yield counts cash available to pay out. When FCF yield sits well above dividend yield, the company has room to raise the dividend or buy back shares.
Is negative free cash flow a bad sign?
Not necessarily. Companies investing heavily in capacity or R&D routinely post negative free cash flow. The concern is persistent negative free cash flow without that investment. This ranking only surfaces companies with positive free cash flow.
Other screens
Cite or embed this data
Top 20 Japanese stocks by Free cash flow yield — as of 2026-09-03 — Market median 3.9%, Universe 77. Margin Call, https://margincall.online/screener/fcf-yield-jp
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This list is the output of a financial-metric calculation, not investment advice. No single metric supports a buy or sell decision, and past financial data does not guarantee future returns.
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