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Electrical and telecom infrastructure construction group affiliated with Tokyo Electric Power (TEPCO).
Electrical and telecom infrastructure construction group affiliated with Tokyo Electric Power (TEPCO).
In one line: A regional electrical-utility construction contractor, no direct US listed peer.
Moat: narrow (customer qualification, installed base). Long-standing captive relationship with TEPCO for power infrastructure work.
Headquarters: Tokyo, Japan · Founded: 2001 · Employees: 17,765
Size Comsys (1721.T) is a Japan Industrials company (Engineering & Construction) with a market value of $3.55B, the 320th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,822 on 6 Nov 2026.
Performance Over six months the shares fell 14.6%, against -12.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 3.9% over the last twelve months (peer median +1.6%); the operating margin is 8.3% (peer median 8.3%).
Valuation It trades at 13.3× forward earnings against a peer median of 14.8× (10th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.3 points above its cost of capital (7.5% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥642B | ¥631B | ¥615B | ¥571B | ¥563B |
| Revenue growth | — | +3% | +8% | +1% | — |
| Gross profit | ¥95.6B | ¥91.9B | ¥84.2B | ¥75.7B | ¥69.5B |
| EBITDA | ¥64.7B | ¥62.2B | ¥57.2B | ¥50.8B | ¥43.6B |
| Net income | ¥39.1B | ¥36.3B | ¥30.1B | ¥27.5B | ¥19.3B |
| Free cash flow | n/a | ¥31.6B | ¥7.11B | ¥27.9B | ¥54.3B |
| Capital expenditure | n/a | ¥13.6B | ¥10.5B | ¥18.7B | ¥8.68B |
| Total debt | ¥2.78B | ¥3.43B | ¥4.22B | ¥5.45B | ¥5.95B |
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 |
|---|---|---|---|---|---|---|
| Comsys 1721.T | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% |
| Kraftia 1959.T | $3.10B | -29% | +5% | 12% | 10.8× | 2.8% |
| Toenec 1946.T | $1.01B | -32% | +2% | 8% | 7.9× | -2.3% |
| Yurtec 1934.T | $998M | -8% | -2% | 8% | 11.0× | -6.2% |
| MIRAIT ONE 1417.T | $1.60B | -24% | +5% | 6% | 10.4× | -5.7% |
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 | 1721.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.7% | +3.2% | 6th lowest of 21 |
| 6-month return | -14.6% | -12.5% | 9th lowest of 21 |
| Distance from 52-week high | -22.4% | -28.3% | 10th highest of 21 |
| Revenue growth (TTM) | +3.9% | +1.6% | 10th highest of 21 |
| Operating margin | 8.3% | 8.3% | 11th highest of 21 |
| Forward P/E | 13.3× | 14.8× | 10th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -0.7% | 4.2% | 7th least demanding of 19 |
| Growth delivered (Del g) | +2.3% | +11.5% | 5th lowest of 19 |
| Hurdle (Req g minus delivered) | -3.0 pp | -5.9 pp | 9th most demanding of 19 |
| ROIC minus cost of capital | +3.3 pp | +2.3 pp | 7th highest of 18 |
| EV / EBITDA | 7.7× | 9.1× | 4th cheapest of 13 |
| Net debt / EBITDA | -1.1× | 0.5× | 4th least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| Worley WOR.AX | Australia | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% | +2.3% |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Ventia Services VNT.AX | Australia | $3.24B | -2% | -1% | 7% | 16.1× | -1.4% | +13.7% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| Downer EDI DOW.AX | Australia | $3.21B | -6% | -7% | 4% | 15.8× | 11.1% | -3.4% |
| China Communications Services 0552.HK | Hong Kong | $3.19B | -19% | 0% | 2% | 5.7× | n/a | n/a |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Sinoma International Engineering 600970.SS | China | $3.15B | -14% | +3% | 5% | 9.2× | -8.3% | +10.3% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| Veidekke VEI.OL | Norway | $3.13B | +25% | +8% | 5% | 17.1× | -3.5% | +2.5% |