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Electrical construction contractor affiliated with Tohoku Electric Power, building power lines, substations and telecom infrastructure.
Electrical construction contractor affiliated with Tohoku Electric Power, building power lines, substations and telecom infrastructure.
Wins construction work from its affiliated utility and main customer, Tohoku Electric Power, plus telecom and building electrical contracts, so grid investment in the region sets its order book. Payment is by contract on completed work, so profit depends on budgets and skilled manpower rather than product sales.
Moat: narrow (customer qualification, installed base). Long captive relationship with Tohoku Electric Power for grid construction work.
Headquarters: Sendai, Japan · Employees: 5,818
Size Yurtec (1934.T) is a Japan Industrials company (Engineering & Construction) with a market value of $998M, the 738th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,298 on 6 Nov 2026.
Performance Over six months the shares fell 7.8%, against -23.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 2.2% over the last twelve months (peer median +4.7%); the operating margin is 8.0% (peer median 7.1%).
Valuation It trades at 11.0× forward earnings against a peer median of 18.4× (6th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.4 points above its cost of capital (7.1% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥259B | ¥252B | ¥257B | ¥243B | ¥227B |
| Revenue growth | — | -2% | +6% | +7% | — |
| Gross profit | ¥46.0B | ¥42.6B | ¥39.5B | ¥32.3B | ¥30.4B |
| EBITDA | ¥25.7B | ¥22.8B | ¥21.0B | ¥15.4B | ¥14.5B |
| Net income | ¥12.9B | ¥10.3B | ¥12.0B | ¥7.51B | ¥6.56B |
| Free cash flow | n/a | ¥1.72B | ¥11.1B | ¥1.71B | ¥5.83B |
| Capital expenditure | n/a | ¥5.57B | ¥5.37B | ¥6.72B | ¥4.69B |
| Total debt | ¥8.90B | ¥8.47B | ¥8.32B | ¥7.01B | ¥8.35B |
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 |
|---|---|---|---|---|---|---|
| Yurtec 1934.T | $998M | -8% | -2% | 8% | 11.0× | -6.2% |
| Chudenko 1941.T | $1.71B | +3% | +9% | 12% | 11.0× | -8.6% |
| Toenec 1946.T | $1.01B | -32% | +2% | 8% | 7.9× | -2.3% |
| Comsys 1721.T | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% |
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 | 1934.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.5% | -4.0% | 7th lowest of 21 |
| 6-month return | -7.8% | -23.5% | 7th highest of 21 |
| Distance from 52-week high | -30.5% | -34.2% | 8th highest of 21 |
| Revenue growth (TTM) | -2.2% | +4.7% | 6th lowest of 21 |
| Operating margin | 8.0% | 7.1% | 9th highest of 21 |
| Forward P/E | 11.0× | 18.4× | 6th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -6.2% | 9.1% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +5.1% | +4.8% | 6th highest of 12 |
| Hurdle (Req g minus delivered) | -11.3 pp | -4.5 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | +4.4 pp | +0.6 pp | 7th highest of 20 |
| EV / EBITDA | 4.8× | 9.1× | cheapest of 10 |
| Net debt / EBITDA | -1.3× | 0.7× | 2nd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yurtec 1934.T | Japan | $998M | -8% | -2% | 8% | 11.0× | -6.2% | +5.1% |
| Acter Technology Integration 603163.SS | China | $997M | -32% | +1% | 11% | 28.4× | 18.6% | +22.2% |
| East China Engineering Science and Technology 002140.SZ | China | $1,000M | -24% | +9% | 7% | 11.6× | 0.3% | +13.9% |
| Welspun Enterprises WELENT.NS | India | $995M | +29% | +1% | 19% | 22.3× | n/a | n/a |
| Rosetti Marino YRM.MI | Italy | $1.01B | -9% | +14% | 7% | 27.6× | n/a | n/a |
| Superloop SLC.AX | Australia | $1.01B | -19% | +22% | 5% | 30.8× | 28.0% | +47.3% |
| Toenec 1946.T | Japan | $1.01B | -32% | +2% | 8% | 7.9× | -2.3% | +4.8% |
| Guangzhou Metro Design & Research Institute 003013.SZ | China | $1.01B | +9% | -8% | 15% | 21.1× | n/a | n/a |
| Kanadevia 7004.T | Japan | $979M | -23% | +8% | 2% | 6.3× | n/a | n/a |
| Jiangsu Libert 605167.SS | China | $1.02B | -24% | -29% | 8% | 28.6× | n/a | n/a |
| RAIZNEXT 6379.T | Japan | $972M | +29% | +13% | 8% | 15.8× | -0.9% | +3.6% |
| JSTI 300284.SZ | China | $963M | -25% | -4% | 1% | 39.1× | 10.5% | -5.4% |
| HuaDian Heavy Industries 601226.SS | China | $1.04B | -32% | +18% | 2% | 29.5× | 18.2% | +3.2% |
| Shenzhen Cheng Chung Design 002811.SZ | China | $949M | +48% | +28% | 13% | n/a | 9.1% | -6.2% |
| Fugro FUR.AS | Netherlands | $1.06B | -29% | -11% | 3% | n/a | n/a | n/a |
| Toa Corporation (Construction) 1885.T | Japan | $1.06B | -29% | +2% | 7% | 9.1× | -12.2% | +13.6% |
| KEC International KEC.NS | India | $939M | -46% | -2% | 5% | 13.3× | n/a | n/a |
| YIT YIT.HE | Finland | $938M | +45% | +10% | 3% | 75.2× | 12.8% | -10.6% |
| Anhui Construction Engineering 600502.SS | China | $1.07B | -23% | -4% | 6% | 4.6× | n/a | n/a |
| Raito Kogyo 1926.T | Japan | $928M | -5% | +9% | 13% | 11.6× | -8.0% | +5.2% |
| Chiyoda 6366.T | Japan | $1.07B | -35% | +16% | 17% | 6.7× | n/a | n/a |