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Employees: 1,921
Size Totetsu Kogyo (1835.T) is a Japan Industrials company (Engineering & Construction) with a market value of $841M, the 824th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,850 on 6 Nov 2026.
Performance Over six months the shares fell 30.2%, against -18.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median +2.0%); the operating margin is 10.6% (peer median 8.4%).
Valuation It trades at 9.9× forward earnings against a peer median of 12.0× (5th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥163B | ¥163B | ¥160B | ¥142B | ¥125B |
| Revenue growth | — | +2% | +13% | +14% | — |
| Gross profit | ¥28.4B | ¥28.1B | ¥24.7B | ¥20.2B | ¥17.4B |
| EBITDA | ¥20.5B | ¥20.6B | ¥18.3B | ¥14.4B | ¥11.4B |
| Net income | ¥12.8B | ¥12.8B | ¥11.6B | ¥8.30B | ¥7.91B |
| Free cash flow | n/a | ¥2.19B | ¥2.48B | ¥973M | -¥14.5B |
| Capital expenditure | n/a | ¥3.19B | ¥1.86B | ¥3.92B | ¥5.54B |
| Total debt | ¥5.29B | ¥20.5B | ¥10.7B | ¥10.8B | ¥5.88B |
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.
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 | 1835.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.7% | -9.0% | 3rd highest of 21 |
| 6-month return | -30.2% | -18.9% | 5th lowest of 21 |
| Distance from 52-week high | -34.1% | -34.7% | 11th highest of 21 |
| Revenue growth (TTM) | +0.2% | +2.0% | 9th lowest of 21 |
| Operating margin | 10.6% | 8.4% | 8th highest of 21 |
| Forward P/E | 9.9× | 12.0× | 5th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -11.6% | 11.8% | least demanding of 11 |
| Growth delivered (Del g) | +4.2% | +5.1% | 5th lowest of 11 |
| Hurdle (Req g minus delivered) | -15.8 pp | +8.6 pp | 3rd least demanding of 11 |
| ROIC minus cost of capital | +5.6 pp | -2.1 pp | 6th highest of 20 |
| EV / EBITDA | 5.6× | 8.7× | 2nd cheapest of 11 |
| Net debt / EBITDA | -1.0× | -1.0× | 6th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Totetsu Kogyo 1835.T | Japan | $841M | -30% | 0% | 11% | 9.9× | -11.6% | +4.2% |
| Afcons Infrastructure AFCONS.NS | India | $841M | -36% | -15% | 4% | 25.2× | n/a | n/a |
| TSK Electronica y Electricidad TSK.MC | Spain | $831M | +10% | +1% | 6% | n/a | 9.9% | +0.9% |
| China Nerin Engineering 603257.SS | China | $851M | -21% | -21% | 10% | 23.4× | 15.4% | +5.6% |
| Falcon's Beyond Global FBYD | United States | $831M | -41% | +181% | -67% | n/a | n/a | n/a |
| Chongqing Road & Bridge 600106.SS | China | $821M | -31% | -10% | 65% | n/a | 32.7% | -11.6% |
| Xinjiang Beixin Road & Bridge 002307.SZ | China | $861M | -19% | -22% | 8% | n/a | n/a | n/a |
| Beijing New Space Technology 605178.SS | China | $861M | -18% | 0% | -51% | n/a | n/a | n/a |
| Shanghai Research Institute of Building Sciences 603153.SS | China | $820M | -22% | +10% | 8% | n/a | -6.2% | +12.6% |
| Next Geosolutions Europe NXT.MI | Italy | $861M | +22% | +68% | 17% | 12.7× | n/a | n/a |
| Shanghai Urban Architecture Design 300983.SZ | China | $866M | +5% | -7% | -58% | n/a | n/a | n/a |
| Shin Nippon Air Technologies 1952.T | Japan | $803M | -25% | +11% | 9% | 8.7× | 1.3% | +7.6% |
| Shenzhen Investment Holdings Bay Area Development 0737.HK | Hong Kong | $803M | -4% | +11% | 30% | 8.9× | 14.6% | -2.4% |
| G R Infraprojects GRINFRA.NS | India | $803M | -21% | +25% | 16% | 8.9× | n/a | n/a |
| Shenzhen Tagen 000090.SZ | China | $883M | -11% | +1% | 0% | 7.7× | 13.8% | +5.6% |
| Ningbo Construction 601789.SS | China | $885M | -34% | +10% | 2% | n/a | n/a | n/a |
| Costain COST.L | United Kingdom | $890M | +30% | -6% | 5% | 16.5× | 0.1% | +1.3% |
| GR Engineering Services GNG.AX | Australia | $891M | +40% | +3% | 11% | 18.3× | 14.9% | +4.7% |
| Taihei Dengyo Kaisha 1968.T | Japan | $899M | -22% | +19% | 11% | 11.2× | n/a | n/a |
| I.CO.P ICOP.MI | Italy | $901M | -6% | +138% | 11% | 17.1× | n/a | n/a |
| GRK Infra GRK.HE | Finland | $903M | +30% | -7% | 8% | 10.0× | -1.5% | +24.6% |