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Japanese mechanical and electrical equipment contractor specializing in HVAC and building systems installation.
Japanese mechanical and electrical equipment contractor specializing in HVAC and building systems installation.
Works mostly as a subcontractor on fixed-price installation jobs, with building services such as air-conditioning, plumbing and electrical work larger than its industrial-systems work for factories. Because jobs run for months, results follow the order backlog built in earlier periods, and cost increases can squeeze a fixed-price job.
In one line: A building-systems subcontractor like a smaller EMCOR Group.
Moat: narrow (process know-how, installed base). Long-run subcontractor relationships and technical expertise in building HVAC systems.
Headquarters: Tokyo, Japan · Founded: 1929 · Employees: 2,705
Size Sanki Engineering (1961.T) is a Japan Industrials company (Engineering & Construction) with a market value of $1.98B, the 486th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,109 on 6 Nov 2026.
Performance Over six months the shares fell 12.4%, against -15.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 1.6% over the last twelve months (peer median +5.6%); the operating margin is 11.8% (peer median 7.7%).
Valuation It trades at 11.5× forward earnings against a peer median of 13.5× (7th cheapest of 17).
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 +6%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 22.9 points above its cost of capital (6.7% WACC).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥258B | ¥255B | ¥253B | ¥222B | ¥191B |
| Revenue growth | — | +1% | +14% | +16% | — |
| Gross profit | ¥59.0B | ¥54.8B | ¥46.3B | ¥33.5B | ¥26.1B |
| EBITDA | ¥32.3B | ¥30.0B | ¥23.8B | ¥13.5B | ¥6.92B |
| Net income | ¥26.3B | ¥23.7B | ¥17.2B | ¥8.95B | ¥4.75B |
| Free cash flow | ¥30.7B | ¥11.4B | ¥28.9B | -¥153M | -¥11.8B |
| Capital expenditure | ¥2.37B | ¥2.22B | ¥1.12B | ¥1.66B | ¥2.37B |
| Total debt | ¥6.37B | ¥6.49B | ¥7.40B | ¥9.16B | ¥8.47B |
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 |
|---|---|---|---|---|---|---|
| Sanki Engineering 1961.T | $1.98B | -12% | +2% | 12% | 11.5× | -6.5% |
| DAI-DAN 1980.T | $2.05B | -15% | -7% | 14% | 10.2× | -4.4% |
| Takasago Thermal Engineering 1969.T | $3.13B | -21% | +2% | 11% | 10.8× | 3.8% |
| Kinden 1944.T | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% |
| Kandenko 1942.T | $5.26B | -41% | +4% | 12% | 11.2× | -0.9% |
| Taikisha 1979.T | $1.32B | -5% | -1% | 8% | 10.6× | -13.3% |
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 | 1961.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.9% | -4.0% | 6th lowest of 21 |
| 6-month return | -12.4% | -15.7% | 9th highest of 21 |
| Distance from 52-week high | -35.6% | -29.9% | 8th lowest of 21 |
| Revenue growth (TTM) | +1.6% | +5.6% | 8th lowest of 21 |
| Operating margin | 11.8% | 7.7% | 9th highest of 21 |
| Forward P/E | 11.5× | 13.5× | 7th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -6.5% | 2.8% | 4th least demanding of 14 |
| Growth delivered (Del g) | +6.0% | +10.2% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | -12.5 pp | -12.2 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | +22.9 pp | -0.1 pp | 2nd highest of 19 |
| EV / EBITDA | 8.2× | 12.3× | 7th cheapest of 15 |
| Net debt / EBITDA | -1.5× | -1.0× | 6th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sanki Engineering 1961.T | Japan | $1.98B | -12% | +2% | 12% | 11.5× | -6.5% | +6.0% |
| Monadelphous MND.AX | Australia | $1.98B | -4% | +29% | 5% | 22.7× | 5.3% | +9.7% |
| CSSC Science & Technology 600072.SS | China | $1.99B | -35% | +8% | -37% | n/a | n/a | n/a |
| Chongqing Sanfeng Environment 601827.SS | China | $2.00B | -3% | +5% | 27% | 10.4× | -11.4% | +2.4% |
| Per Aarsleff Holding A/S PAAL-B.CO | Denmark | $2.02B | -6% | +14% | 5% | 13.4× | -7.6% | +11.2% |
| NRW NWH.AX | Australia | $1.95B | -17% | +31% | 6% | 13.6× | 8.5% | +14.1% |
| HAZAMA ANDO 1719.T | Japan | $1.94B | -11% | +4% | 8% | 9.8× | -11.7% | +4.5% |
| Hong Kong Zcloud Technology Construction 9900.HK | Hong Kong | $2.03B | +16% | -33% | 0% | n/a | n/a | n/a |
| DAI-DAN 1980.T | Japan | $2.05B | -15% | -7% | 14% | 10.2× | -4.4% | +10.2% |
| Kepco E&c 052690.KS | South Korea | $2.07B | -61% | +8% | 10% | 45.6× | n/a | n/a |
| Jinko Power Technology 601778.SS | China | $1.86B | -49% | -25% | 16% | n/a | n/a | n/a |
| Beijing Enterprises Water 0371.HK | Hong Kong | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% | -1.2% |
| Yankey Engineering 6691.TW | Taiwan | $2.16B | -16% | +63% | 16% | 9.7× | 2.8% | +33.1% |
| Mega Union Technology 6944.TW | Taiwan | $1.82B | -17% | +60% | 21% | 14.1× | -4.0% | +30.2% |
| China Next-Gen Commerce and Supply Chain 3928.HK | Hong Kong | $1.81B | +47% | -26% | -17% | n/a | n/a | n/a |
| IRB Infrastructure Developers IRB.NS | India | $2.18B | -21% | -14% | 27% | 16.0× | 9.2% | +4.2% |
| Badger Infrastructure Solutions BDGI.TO | Canada | $1.80B | -10% | +16% | 8% | 19.2× | 21.0% | +15.8% |
| Guangdong Construction Engineering 002060.SZ | China | $1.79B | -15% | -11% | 3% | 8.0× | n/a | n/a |
| Nbcc (india) NBCC.NS | India | $2.23B | -19% | +4% | 6% | 26.0× | 40.1% | +12.9% |
| Grenergy Renovables GRE.MC | Spain | $2.24B | -40% | +8% | 23% | 18.9× | n/a | n/a |
| Kier KIE.L | United Kingdom | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% | +5.9% |