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Employees: 518
Size Tomoe (1921.T) is a Japan Industrials company (Engineering & Construction) with a market value of $408M, the 1175th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,917 on 6 Nov 2026.
Performance Over six months the shares fell 5.0%, against -12.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median +0.8%); the operating margin is 14.4% (peer median 5.4%).
Valuation It trades at 2.1× enterprise value to sales against a peer median of 1.4× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.9 points below its cost of capital (5.0% WACC).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥35.0B | ¥35.0B | ¥34.7B | ¥33.3B | ¥36.0B |
| Revenue growth | — | +1% | +4% | -7% | — |
| Gross profit | ¥7.76B | ¥7.53B | ¥6.64B | ¥5.56B | ¥5.89B |
| EBITDA | ¥6.66B | ¥6.39B | ¥5.21B | ¥3.98B | ¥4.46B |
| Net income | ¥6.60B | ¥6.23B | ¥14.8B | ¥2.78B | ¥3.18B |
| Free cash flow | n/a | ¥9.00B | ¥2.58B | -¥342M | -¥795M |
| Capital expenditure | n/a | ¥700M | ¥2.41B | ¥2.43B | ¥1.27B |
| Total debt | ¥18.0B | ¥16.2B | ¥18.2B | ¥11.3B | ¥2.62B |
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 | 1921.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.9% | -6.0% | 10th highest of 20 |
| 6-month return | -5.0% | -12.1% | 6th highest of 19 |
| Distance from 52-week high | -18.0% | -32.3% | 4th highest of 21 |
| Revenue growth (TTM) | +3.4% | +0.8% | 9th highest of 20 |
| Operating margin | 14.4% | 5.4% | 5th highest of 20 |
| EV / Sales | 2.1× | 1.4× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | -2.9% | -5.8% | 6th most demanding of 12 |
| Growth delivered (Del g) | +8.5% | +6.3% | 6th highest of 12 |
| Hurdle (Req g minus delivered) | -11.4 pp | -10.3 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | -0.9 pp | +0.5 pp | 8th lowest of 19 |
| EV / EBITDA | 10.9× | 7.4× | 3rd most expensive of 11 |
| Net debt / EBITDA | 1.0× | -0.5× | 5th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tomoe 1921.T | Japan | $408M | -5% | +3% | 14% | 2.1× | -2.9% | +8.5% |
| Shanxi Installation 2520.HK | Hong Kong | $408M | +25% | -16% | 3% | 1.4× | n/a | n/a |
| Fujian Tendering 301136.SZ | China | $409M | -39% | -5% | -4% | 3.0× | n/a | n/a |
| Daiho 1822.T | Japan | $405M | +2% | +1% | 5% | 0.3× | -12.7% | -2.9% |
| Kawada Technologies 3443.T | Japan | $411M | -17% | -11% | 8% | 0.5× | -10.4% | -0.1% |
| Zhong Fu Tong 300560.SZ | China | $405M | -18% | +15% | -1% | 2.8× | n/a | n/a |
| Qilu Expressway 1576.HK | Hong Kong | $412M | -10% | -53% | 29% | 6.6× | 5.5% | +6.3% |
| Anhui Gourgen Traffic Construction 603815.SS | China | $404M | -40% | -32% | -29% | 1.4× | n/a | n/a |
| LCC Projects LCCPROJECT.NS | India | $414M | n/a | +23% | 12% | 1.2× | 8.6% | +43.2% |
| YCIC Eco-Technology 002200.SZ | China | $401M | -22% | +41% | 0% | 3.0× | 34.5% | +14.0% |
| Daiichi Kensetsu 1799.T | Japan | $401M | -16% | +15% | 10% | 0.7× | -6.4% | +1.8% |
| Da Yi Cheng Technology 7951.TWO | Taiwan | $398M | n/a | n/a | n/a | n/a | n/a | n/a |
| Chengdu Expressway 1785.HK | Hong Kong | $395M | -8% | +2% | 27% | 2.0× | n/a | n/a |
| Phoenix Asia PHOE | United States | $395M | +18% | -2% | -17% | 427.7× | n/a | n/a |
| Shape Australia SHA.AX | Australia | $395M | -14% | +30% | 3% | 0.4× | -1.0% | +16.6% |
| Nichireki 5011.T | Japan | $394M | 0% | +1% | 8% | 0.8× | n/a | n/a |
| Asanuma 1852.T | Japan | $425M | -9% | -4% | 5% | 0.3× | -17.6% | +4.8% |
| Wee Hur E3B.SI | Singapore | $425M | -18% | +22% | 26% | 2.1× | -14.2% | +9.2% |
| Superland 0368.HK | Hong Kong | $392M | +405% | -6% | 6% | 4.0× | n/a | n/a |
| GE Power India GVPIL.NS | India | $427M | -10% | +19% | 23% | 3.1× | 17.8% | -17.6% |
| Multiconsult MULTI.OL | Norway | $390M | -17% | +4% | 5% | 0.7× | -5.8% | +9.6% |