Loading…
Specialist contractor repairing and reinforcing aging bridges, roads and public infrastructure in Japan.
Specialist contractor repairing and reinforcing aging bridges, roads and public infrastructure in Japan.
Is paid per repair job, mainly by public bodies and highway operators, with orders won through public tenders, so income depends on government budgets for maintaining ageing infrastructure rather than building new structures.
In one line: A niche infrastructure-repair specialist.
Moat: narrow (process know-how, regulatory licence). Specialized repair technique know-how and long qualification track record with government agencies.
Headquarters: Tokyo, Japan · Founded: 1962 · Employees: 1,068
Size SHO BOND (1414.T) is a Japan Industrials company (Engineering & Construction) with a market value of $1.71B, the 526th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,252 on 6 Nov 2026.
Performance Over six months the shares fell 5.5%, against -9.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue fell 1.7% over the last twelve months (peer median +1.2%); the operating margin is 23.4% (peer median 6.1%).
Valuation It trades at 16.3× forward earnings against a peer median of 15.0× (9th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.9 points above its cost of capital (5.0% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | ¥89.2B | ¥89.2B | ¥90.7B | ¥85.4B | ¥83.9B |
| Revenue growth | — | -2% | +6% | +2% | — |
| Gross profit | ¥26.7B | ¥26.7B | ¥26.5B | ¥25.3B | ¥23.5B |
| EBITDA | ¥21.6B | ¥21.6B | ¥21.5B | ¥20.4B | ¥18.8B |
| Net income | ¥15.4B | ¥15.4B | ¥15.1B | ¥14.3B | ¥12.9B |
| Free cash flow | n/a | ¥18.2B | ¥8.62B | ¥18.0B | ¥2.34B |
| Capital expenditure | n/a | ¥1.17B | ¥857M | ¥1.45B | ¥1.41B |
| Total debt | ¥0 | ¥0 | ¥0 | ¥0 | ¥0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| SHO BOND 1414.T | $1.71B | -6% | -2% | 23% | 16.3× | -7.5% |
| Obayashi 1802.T | $12.8B | -20% | +5% | 8% | 12.3× | -1.6% |
| Toa Corporation (Construction) 1885.T | $1.06B | -29% | +2% | 7% | 9.1× | -12.2% |
| Nishimatsu Construction 1820.T | $1.28B | -11% | +14% | 8% | 9.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1414.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.4% | -1.7% | 8th highest of 21 |
| 6-month return | -5.5% | -9.5% | 10th highest of 21 |
| Distance from 52-week high | -18.6% | -26.9% | 7th highest of 21 |
| Revenue growth (TTM) | -1.7% | +1.2% | 11th highest of 21 |
| Operating margin | 23.4% | 6.1% | 2nd highest of 21 |
| Forward P/E | 16.3× | 15.0× | 9th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -7.5% | 4.1% | 2nd least demanding of 15 |
| Growth delivered (Del g) | +2.2% | +5.0% | 6th lowest of 15 |
| Hurdle (Req g minus delivered) | -9.7 pp | -6.6 pp | 8th least demanding of 15 |
| ROIC minus cost of capital | +14.9 pp | +1.0 pp | 5th highest of 20 |
| EV / EBITDA | 10.9× | 12.8× | 5th cheapest of 12 |
| Net debt / EBITDA | -1.7× | 0.3× | 3rd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SHO BOND 1414.T | Japan | $1.71B | -6% | -2% | 23% | 16.3× | -7.5% | +2.2% |
| Burkhalter BRKN.SW | Switzerland | $1.71B | -27% | -2% | 6% | 21.5× | -1.3% | +19.0% |
| Chudenko 1941.T | Japan | $1.71B | +3% | +9% | 12% | 11.0× | -8.6% | +4.3% |
| China Aluminum International Engineering 2068.HK | Hong Kong | $1.71B | -39% | -6% | 4% | 13.3× | 11.9% | -0.6% |
| Tasmea TEA.AX | Australia | $1.73B | +49% | +136% | 8% | 18.9× | 4.6% | +59.3% |
| NCC NCC-A.ST | Sweden | $1.69B | -3% | -17% | 3% | 22.2× | -1.6% | +0.7% |
| Suzhou Gold Mantis Construction and Decoration 002081.SZ | China | $1.74B | -25% | -8% | 3% | 29.6× | 12.2% | -11.1% |
| Engineers India ENGINERSIN.NS | India | $1.74B | +12% | +6% | 20% | 25.2× | 29.6% | +4.6% |
| Envision Greenwise 1783.HK | Hong Kong | $1.68B | +38% | +183% | 3% | n/a | n/a | n/a |
| Kier KIE.L | United Kingdom | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% | +5.9% |
| Japan Elevator Service 6544.T | Japan | $1.65B | -9% | +17% | 19% | 29.3× | 4.0% | +18.6% |
| Shandong Hi-speed Road&bridge 000498.SZ | China | $1.65B | +20% | -9% | 7% | 4.9× | n/a | n/a |
| Guangdong Construction Engineering 002060.SZ | China | $1.79B | -15% | -11% | 3% | 8.0× | n/a | n/a |
| Badger Infrastructure Solutions BDGI.TO | Canada | $1.80B | -10% | +16% | 8% | 19.2× | 21.0% | +15.8% |
| China Next-Gen Commerce and Supply Chain 3928.HK | Hong Kong | $1.81B | +47% | -26% | -17% | n/a | n/a | n/a |
| Mega Union Technology 6944.TW | Taiwan | $1.82B | -17% | +60% | 21% | 14.1× | -4.0% | +30.2% |
| Implenia IMPN.SW | Switzerland | $1.61B | +12% | -8% | 2% | 15.0× | 6.0% | -2.7% |
| MIRAIT ONE 1417.T | Japan | $1.60B | -24% | +5% | 6% | 10.4× | -5.7% | +5.4% |
| China CAMC Engineering 002051.SZ | China | $1.58B | -15% | +14% | 5% | 40.3× | n/a | n/a |
| Beijing Enterprises Water 0371.HK | Hong Kong | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% | -1.2% |
| Jinko Power Technology 601778.SS | China | $1.86B | -49% | -25% | 16% | n/a | n/a | n/a |