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Major Japanese engineering, procurement and construction (EPC) contractor for LNG, oil & gas and petrochemical plants worldwide.
Major Japanese engineering, procurement and construction (EPC) contractor for LNG, oil & gas and petrochemical plants worldwide.
Wins large engineering contracts, often fixed-price turnkey, and books revenue as work proceeds over several years, so profit depends on controlling costs on a handful of giant projects as much as on winning them. Cost overruns on fixed-price jobs are the chief hazard for contractors like it.
In one line: Japan's Fluor/KBR, LNG-plant focused.
Moat: narrow (process know-how, customer qualification, scale). Decades of large-scale LNG EPC execution track record versus a handful of global rivals.
Headquarters: Yokohama, Japan · Founded: 1928 · Employees: 8,154
Size Jgc (1963.T) is a Japan Industrials company (Engineering & Construction) with a market value of $2.94B, the 371st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,950 on 6 Nov 2026.
Performance Over six months the shares fell 18.1%, against -6.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 15.3% over the last twelve months (peer median +7.6%); the operating margin is 5.6% (peer median 4.7%).
Valuation It trades at 10.0× forward earnings against a peer median of 15.3× (4th cheapest of 21).
Capital Return on invested capital runs 47.3 points above its cost of capital (7.3% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥715B | ¥745B | ¥858B | ¥833B | ¥607B |
| Revenue growth | — | -13% | +3% | +37% | — |
| Gross profit | ¥69.1B | ¥65.6B | ¥21.1B | ¥10.7B | ¥66.7B |
| EBITDA | ¥51.5B | ¥46.7B | -¥890M | -¥9.29B | ¥44.5B |
| Net income | ¥47.9B | ¥41.8B | -¥398M | -¥7.83B | ¥30.7B |
| Free cash flow | n/a | ¥67.1B | ¥37.2B | -¥2.43B | ¥104B |
| Capital expenditure | n/a | ¥17.7B | ¥14.4B | ¥19.0B | ¥12.1B |
| Total debt | ¥35.8B | ¥36.5B | ¥36.6B | ¥41.6B | ¥39.6B |
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 |
|---|---|---|---|---|---|---|
| Jgc 1963.T | $2.94B | -18% | -15% | 6% | 10.0× | n/a |
| Chiyoda 6366.T | $1.07B | -35% | +16% | 17% | 6.7× | n/a |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| KBR KBR | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% |
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 | 1963.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.0% | -2.2% | 5th lowest of 21 |
| 6-month return | -18.1% | -6.6% | 8th lowest of 21 |
| Distance from 52-week high | -33.4% | -22.6% | 6th lowest of 21 |
| Revenue growth (TTM) | -15.3% | +7.6% | 2nd lowest of 21 |
| Operating margin | 5.6% | 4.7% | 9th highest of 21 |
| Forward P/E | 10.0× | 15.3× | 4th cheapest of 21 |
| ROIC minus cost of capital | +47.3 pp | +4.0 pp | highest of 19 |
| EV / EBITDA | 1.7× | 9.0× | cheapest of 14 |
| Net debt / EBITDA | -7.3× | 0.5× | 2nd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jgc 1963.T | Japan | $2.94B | -18% | -15% | 6% | 10.0× | n/a | n/a |
| ACME Solar ACMESOLAR.NS | India | $2.95B | +32% | +54% | 66% | 29.6× | n/a | n/a |
| Shanghai Construction 600170.SS | China | $2.89B | -20% | -22% | 1% | 16.7× | -10.4% | -2.3% |
| L&K Engineering (Suzhou) 603929.SS | China | $2.99B | -50% | +43% | 25% | 14.8× | 7.5% | +39.5% |
| Bravida BRAV.ST | Sweden | $3.00B | +30% | +4% | 6% | 19.0× | 5.3% | +5.9% |
| Legence LGN | United States | $3.02B | -72% | +69% | 3% | 12.2× | 29.7% | +69.2% |
| EXEO 1951.T | Japan | $2.84B | -22% | +18% | 7% | 12.2× | -5.0% | +6.6% |
| SINOPEC Engineering (Group) 2386.HK | Hong Kong | $3.05B | -13% | +14% | 2% | 9.0× | n/a | n/a |
| Peab PEAB-B.ST | Sweden | $2.80B | +5% | +4% | 4% | 11.4× | 6.6% | -0.4% |
| Kraftia 1959.T | Japan | $3.10B | -29% | +5% | 12% | 10.8× | 2.8% | +4.0% |
| Morgan Sindall MGNS.L | United Kingdom | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% | +10.6% |
| Veidekke VEI.OL | Norway | $3.13B | +25% | +8% | 5% | 17.1× | -3.5% | +2.5% |
| Elecnor ENO.MC | Spain | $2.76B | -30% | +7% | 4% | 17.0× | -4.9% | +12.3% |
| Sinoma International Engineering 600970.SS | China | $3.15B | -14% | +3% | 5% | 9.2× | -8.3% | +10.3% |
| China Communications Services 0552.HK | Hong Kong | $3.19B | -19% | 0% | 2% | 5.7× | n/a | n/a |
| Bird Construction BDT.TO | Canada | $2.70B | +28% | +7% | 4% | 21.5× | 6.1% | +17.7% |
| Downer EDI DOW.AX | Australia | $3.21B | -6% | -7% | 4% | 15.8× | 11.1% | -3.4% |
| Ventia Services VNT.AX | Australia | $3.24B | -2% | -1% | 7% | 16.1× | -1.4% | +13.7% |
| Keller KLR.L | United Kingdom | $2.63B | +24% | +10% | 7% | 11.8× | 4.4% | +8.4% |
| Aecon ARE.TO | Canada | $2.59B | -4% | +23% | 2% | 26.3× | 5.1% | +8.3% |
| Cemindia Projects CEMPRO.NS | India | $2.58B | +36% | +10% | 9% | 32.8× | 42.2% | +29.9% |