Loading…
Employees: 1,687
Size Tokyo Energy & Systems (1945.T) is a Japan Industrials company (Engineering & Construction) with a market value of $326M, the 1309th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,701 on 6 Nov 2026.
Performance Over six months the shares fell 10.1%, against -14.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 28.6% over the last twelve months (peer median +2.8%); the operating margin is 5.8% (peer median 5.6%).
Valuation It trades at 10.4× forward earnings against a peer median of 13.6× (4th cheapest of 9).
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 +7%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.1 points below its cost of capital (7.6% WACC).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥88.0B | ¥83.1B | ¥67.7B | ¥88.5B | ¥79.1B |
| Revenue growth | — | +23% | -23% | +12% | — |
| Gross profit | ¥13.3B | ¥12.7B | ¥9.01B | ¥10.6B | ¥9.30B |
| EBITDA | ¥7.16B | ¥6.77B | ¥4.68B | ¥6.09B | ¥5.21B |
| Net income | ¥4.39B | ¥4.29B | ¥2.90B | ¥2.96B | ¥2.12B |
| Free cash flow | n/a | ¥3.82B | -¥16.0B | ¥7.57B | ¥4.19B |
| Capital expenditure | n/a | ¥884M | ¥758M | ¥935M | ¥3.95B |
| Total debt | ¥17.1B | ¥18.1B | ¥19.6B | ¥6.95B | ¥9.19B |
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 | 1945.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.6% | -8.6% | lowest of 20 |
| 6-month return | -10.1% | -14.0% | 10th highest of 20 |
| Distance from 52-week high | -36.0% | -31.8% | 8th lowest of 20 |
| Revenue growth (TTM) | +28.6% | +2.8% | 7th highest of 21 |
| Operating margin | 5.8% | 5.6% | 11th highest of 21 |
| Forward P/E | 10.4× | 13.6× | 4th cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | 3.0% | -0.2% | 6th most demanding of 12 |
| Growth delivered (Del g) | +6.9% | +8.4% | 6th lowest of 12 |
| Hurdle (Req g minus delivered) | -3.9 pp | -14.7 pp | 5th most demanding of 12 |
| ROIC minus cost of capital | -3.1 pp | -1.2 pp | 8th lowest of 21 |
| EV / EBITDA | 8.3× | 8.4× | 6th cheapest of 11 |
| Net debt / EBITDA | 1.1× | -0.3× | 5th most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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 |
| 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% |
| J. Kumar Infraprojects JKIL.NS | India | $331M | -20% | -2% | 11% | 7.1× | -2.1% | +17.4% |
| Ohmoto Gumi 1793.T | Japan | $320M | +15% | +36% | 4% | n/a | n/a | n/a |
| Mirbud MRB.WA | Poland | $319M | +10% | +6% | 4% | 10.3× | n/a | n/a |
| PSP Projects PSPPROJECT.NS | India | $333M | -7% | +45% | 4% | 20.9× | 29.2% | +20.5% |
| Seikitokyu Kogyo 1898.T | Japan | $318M | -4% | -5% | 7% | n/a | -15.2% | +1.1% |
| Beijing Airport High-Tech Park 600463.SS | China | $314M | -35% | +15% | -9% | n/a | n/a | n/a |
| Huitong Construction 603176.SS | China | $340M | -14% | -24% | 5% | n/a | n/a | n/a |
| Duratec DUR.AX | Australia | $341M | -28% | 0% | 5% | 14.5× | 4.6% | +19.3% |
| Fujian Newchoice Pipe Technology 300198.SZ | China | $311M | -21% | +37% | -154% | n/a | n/a | n/a |
| Vindhya Telelinks VINDHYATEL.NS | India | $310M | +47% | -18% | 7% | n/a | n/a | n/a |
| Hualan 301027.SZ | China | $310M | -43% | +12% | 4% | n/a | 22.0% | -7.9% |
| ARTS 603017.SS | China | $345M | -46% | -10% | 9% | n/a | -0.2% | -8.5% |
| ADF DRX.TO | Canada | $346M | +62% | +30% | 14% | 12.8× | -15.6% | +8.4% |
| Suzhou Institute of Building Science 603183.SS | China | $347M | -3% | -6% | 7% | 21.1× | 10.1% | +0.2% |
| SEM 9929.HK | Hong Kong | $306M | -8% | +34% | -81% | n/a | n/a | n/a |
| Zenitaka 1811.T | Japan | $306M | -20% | -7% | 2% | n/a | -1.1% | +3.5% |