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Employees: 1,206
Size Nittoc Construction (1929.T) is a Japan Industrials company (Engineering & Construction) with a market value of $295M, the 1367th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,114 on 6 Nov 2026.
Performance Over six months the shares fell 5.3%, against -18.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 20.6% over the last twelve months (peer median +1.0%); the operating margin is 7.2% (peer median 6.6%).
Valuation It trades at 11.1× forward earnings against a peer median of 10.4× (4th most expensive of 8).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 16.0 points above its cost of capital (5.8% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥85.0B | ¥83.8B | ¥67.2B | ¥71.9B | ¥72.9B |
| Revenue growth | — | +25% | -6% | -1% | — |
| Gross profit | ¥16.0B | ¥15.9B | ¥12.6B | ¥12.7B | ¥13.7B |
| EBITDA | ¥7.17B | ¥6.90B | ¥4.55B | ¥5.14B | ¥6.04B |
| Net income | ¥4.27B | ¥4.17B | ¥2.41B | ¥3.06B | ¥3.53B |
| Free cash flow | n/a | ¥2.21B | ¥3.17B | ¥3.44B | ¥1.45B |
| Capital expenditure | n/a | ¥1.30B | ¥1.37B | ¥1.08B | ¥1.21B |
| Total debt | ¥484M | ¥529M | ¥707M | ¥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.
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 | 1929.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.5% | -9.6% | 6th highest of 20 |
| 6-month return | -5.3% | -18.2% | 7th highest of 20 |
| Distance from 52-week high | -24.0% | -33.7% | 5th highest of 20 |
| Revenue growth (TTM) | +20.6% | +1.0% | 7th highest of 21 |
| Operating margin | 7.2% | 6.6% | 10th highest of 20 |
| Forward P/E | 11.1× | 10.4× | 4th most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | -15.1% | -2.0% | 2nd least demanding of 10 |
| Growth delivered (Del g) | +4.3% | +6.9% | 5th lowest of 10 |
| Hurdle (Req g minus delivered) | -19.4 pp | -16.3 pp | 4th least demanding of 10 |
| ROIC minus cost of capital | +16.0 pp | -1.2 pp | 3rd highest of 20 |
| EV / EBITDA | 4.0× | 8.3× | 3rd cheapest of 12 |
| Net debt / EBITDA | -2.5× | 0.3× | 2nd least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nittoc Construction 1929.T | Japan | $295M | -5% | +21% | 7% | 11.1× | -15.1% | +4.3% |
| IS Dongseo 010780.KS | South Korea | $296M | -48% | -13% | 9% | 3.2× | -2.0% | +0.6% |
| Terrestrial Energy IMSR | United States | $301M | -62% | -100% | n/a | n/a | n/a | n/a |
| Yamato 1967.T | Japan | $302M | 0% | -4% | 11% | n/a | n/a | n/a |
| Ashoka Buildcon ASHOKA.NS | India | $303M | -27% | -25% | 19% | 15.0× | -10.6% | +7.1% |
| Zenitaka 1811.T | Japan | $306M | -20% | -7% | 2% | n/a | -1.1% | +3.5% |
| SEM 9929.HK | Hong Kong | $306M | -8% | +34% | -81% | n/a | n/a | n/a |
| Hualan 301027.SZ | China | $310M | -43% | +12% | 4% | n/a | 22.0% | -7.9% |
| Vindhya Telelinks VINDHYATEL.NS | India | $310M | +47% | -18% | 7% | n/a | n/a | n/a |
| Fujian Newchoice Pipe Technology 300198.SZ | China | $311M | -21% | +37% | -154% | n/a | n/a | n/a |
| Beijing Airport High-Tech Park 600463.SS | China | $314M | -35% | +15% | -9% | n/a | n/a | n/a |
| Seikitokyu Kogyo 1898.T | Japan | $318M | -4% | -5% | 7% | n/a | -15.2% | +1.1% |
| Chi Yi Hsin Technology 7848.TWO | Taiwan | $274M | -39% | -7% | 24% | n/a | n/a | n/a |
| Mirbud MRB.WA | Poland | $319M | +10% | +6% | 4% | 10.3× | n/a | n/a |
| Ohmoto Gumi 1793.T | Japan | $320M | +15% | +36% | 4% | n/a | n/a | n/a |
| Tokyo Energy & Systems 1945.T | Japan | $326M | -10% | +29% | 6% | 10.4× | 3.0% | +6.9% |
| Hunan Investment 000548.SZ | China | $326M | -18% | -19% | 19% | n/a | n/a | n/a |
| KNR Constructions KNRCON.NS | India | $327M | -19% | -38% | 25% | 22.2× | n/a | n/a |
| Ever Glory United ZKX.SI | Singapore | $267M | -17% | +155% | 13% | 14.5× | -6.1% | +47.9% |
| Bondada Engineering BONDADA.NS | India | $327M | n/a | +202% | 11% | n/a | 20.0% | +58.2% |
| Capital CAPD.L | United Kingdom | $329M | -4% | +16% | 15% | 9.8× | -4.9% | +20.0% |