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One of Japan's largest general contractors, building offices, infrastructure and civil engineering projects.
One of Japan's largest general contractors, building offices, infrastructure and civil engineering projects.
Earns on fixed-price construction contracts won through negotiation and tender, with revenue recognised as work progresses, so results turn on winning jobs on good terms and holding down materials and labour costs once a price is signed. Founded in 1804, it works mostly in Japan, with overseas construction a smaller part.
In one line: Japan's Turner Construction/Bechtel.
Moat: narrow (scale, brand). One of Japan's 'big five' contractors with scale on complex, large-scale projects.
Headquarters: Tokyo, Japan · Founded: 1804 · Employees: 22,278
Size Shimizu (1803.T) is a Japan Industrials company (Engineering & Construction) with a market value of $8.30B, the 161st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,960 on 6 Nov 2026.
Performance Over six months the shares fell 35.5%, against -10.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 5.7% over the last twelve months (peer median +2.0%); the operating margin is 5.8% (peer median 8.5%).
Valuation It trades at 7.8× forward earnings against a peer median of 11.5× (5th cheapest of 21).
Capital Return on invested capital runs 0.7 points above its cost of capital (6.4% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.10T | ¥2.06T | ¥1.94T | ¥2.01T | ¥1.93T |
| Revenue growth | — | +6% | -3% | +4% | — |
| Gross profit | ¥264B | ¥265B | ¥201B | ¥95.0B | ¥166B |
| EBITDA | ¥155B | ¥152B | ¥105B | ¥5.57B | ¥80.4B |
| Net income | ¥171B | ¥127B | ¥66.0B | ¥17.2B | ¥49.1B |
| Free cash flow | n/a | -¥57.0B | ¥125B | -¥79.0B | ¥15.3B |
| Capital expenditure | n/a | ¥98.7B | ¥34.1B | ¥57.7B | ¥68.6B |
| Total debt | ¥573B | ¥575B | ¥593B | ¥585B | ¥578B |
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 |
|---|---|---|---|---|---|---|
| Shimizu 1803.T | $8.30B | -35% | +6% | 6% | 7.8× | n/a |
| Kajima 1812.T | $12.5B | -27% | +4% | 8% | 10.8× | -1.9% |
| Taisei 1801.T | $10.8B | -38% | +2% | 9% | 9.9× | 0.6% |
| Kinden 1944.T | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% |
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 | 1803.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | +2.6% | 5th lowest of 21 |
| 6-month return | -35.5% | -10.1% | 4th lowest of 21 |
| Distance from 52-week high | -44.9% | -23.5% | 6th lowest of 21 |
| Revenue growth (TTM) | +5.7% | +2.0% | 9th highest of 21 |
| Operating margin | 5.8% | 8.5% | 9th lowest of 21 |
| Forward P/E | 7.8× | 11.5× | 5th cheapest of 21 |
| ROIC minus cost of capital | +0.7 pp | +3.2 pp | 7th lowest of 20 |
| EV / EBITDA | 9.5× | 9.6× | 7th cheapest of 14 |
| Net debt / EBITDA | 0.9× | 0.9× | 7th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shimizu 1803.T | Japan | $8.30B | -35% | +6% | 6% | 7.8× | n/a | n/a |
| JSW Infrastructure JSWINFRA.NS | India | $8.33B | +20% | +17% | 36% | 46.8× | n/a | n/a |
| Stantec STN.TO | Canada | $8.42B | -16% | +10% | 10% | 16.0× | 3.9% | +11.5% |
| Aecom ACM | United States | $8.59B | -17% | -4% | 5% | 11.0× | 7.3% | +4.0% |
| SamsungE&A 028050.KS | South Korea | $8.73B | +14% | +19% | 11% | 13.6× | -2.1% | +6.1% |
| Sterling Infrastructure STRL | United States | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% | +11.8% |
| Metallurgical Corporation of China 1618.HK | Hong Kong | $7.67B | -14% | -18% | -4% | 5.1× | 5.2% | +1.9% |
| Saipem SPM.MI | Italy | $9.38B | -9% | +2% | 4% | 27.1× | 6.9% | +16.1% |
| Atkinsrealis ATRL.TO | Canada | $9.94B | -7% | +15% | 7% | 19.9× | 11.4% | +9.6% |
| Technip Energies TE.PA | France | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% | +4.6% |
| Tetra Tech TTEK | United States | $10.3B | +33% | -8% | 12% | 24.0× | 8.3% | +12.7% |
| China National Chemical Engineering 601117.SS | China | $6.68B | -15% | +2% | 5% | 6.4× | -17.3% | +11.6% |
| IES IESC | United States | $6.38B | +32% | +23% | 12% | 12.6× | 11.2% | +22.9% |
| Taisei 1801.T | Japan | $10.8B | -38% | +2% | 9% | 9.9× | 0.6% | +7.1% |
| Dycom Industries DY | United States | $6.26B | -52% | +38% | 8% | 12.1× | 11.6% | +11.6% |
| Fluor FLR | United States | $6.22B | +7% | -5% | -2% | 14.2× | n/a | n/a |
| Sichuan Road & Bridge 600039.SS | China | $11.4B | +8% | +8% | 10% | 9.7× | -5.0% | +12.3% |
| China State Construction International 3311.HK | Hong Kong | $6.04B | -5% | -14% | 15% | 5.0× | -8.1% | +11.8% |
| China Railway Construction 601186.SS | China | $11.4B | -11% | -9% | 4% | 4.9× | n/a | n/a |
| Power Construction Corporation of China 601669.SS | China | $11.5B | -20% | -2% | 4% | 8.4× | n/a | n/a |
| Eiffage FGR.PA | France | $11.5B | -20% | +5% | 10% | 9.3× | -6.9% | +9.4% |