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Japanese mechanical and electrical equipment contractor installing HVAC, plumbing and electrical systems in large buildings.
Japanese mechanical and electrical equipment contractor installing HVAC, plumbing and electrical systems in large buildings.
Wins building-services work from general contractors and building owners, mostly through bids, and books revenue as each job progresses, so results follow construction volumes with a lag after orders. Maintenance and upgrades of existing buildings provide a smaller, steadier flow.
In one line: A building-systems subcontractor like a smaller EMCOR Group.
Moat: narrow (process know-how, installed base). Long-run subcontractor relationships with major general contractors.
Headquarters: Tokyo, Japan · Founded: 1934 · Employees: 2,568
Size DAI-DAN (1980.T) is a Japan Industrials company (Engineering & Construction) with a market value of $2.05B, the 473rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,374 on 6 Nov 2026.
Performance Over six months the shares fell 14.7%, against -16.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 7.5% over the last twelve months (peer median +6.0%); the operating margin is 13.9% (peer median 7.7%).
Valuation It trades at 10.2× forward earnings against a peer median of 13.5× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 32.7 points above its cost of capital (11.5% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥258B | ¥256B | ¥263B | ¥197B | ¥186B |
| Revenue growth | — | -2% | +33% | +6% | — |
| Gross profit | ¥57.9B | ¥54.7B | ¥40.3B | ¥25.5B | ¥22.1B |
| EBITDA | ¥37.4B | ¥36.1B | ¥24.1B | ¥11.6B | ¥8.92B |
| Net income | ¥26.5B | ¥26.8B | ¥17.4B | ¥9.09B | ¥6.63B |
| Free cash flow | n/a | ¥57.6B | ¥12.1B | -¥1.03B | ¥14.1B |
| Capital expenditure | n/a | ¥800M | ¥342M | ¥1.63B | ¥1.81B |
| Total debt | ¥3.34B | ¥4.22B | ¥23.6B | ¥3.16B | ¥3.62B |
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 |
|---|---|---|---|---|---|---|
| DAI-DAN 1980.T | $2.05B | -15% | -7% | 14% | 10.2× | -4.4% |
| Sanki Engineering 1961.T | $1.98B | -12% | +2% | 12% | 11.5× | -6.5% |
| 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 | 1980.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.9% | -5.2% | 4th lowest of 21 |
| 6-month return | -14.7% | -16.5% | 9th highest of 21 |
| Distance from 52-week high | -35.5% | -32.5% | 10th lowest of 21 |
| Revenue growth (TTM) | -7.5% | +6.0% | 6th lowest of 21 |
| Operating margin | 13.9% | 7.7% | 8th highest of 21 |
| Forward P/E | 10.2× | 13.5× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -4.4% | 3.5% | 5th least demanding of 13 |
| Growth delivered (Del g) | +10.2% | +10.5% | 7th highest of 13 |
| Hurdle (Req g minus delivered) | -14.6 pp | -9.0 pp | 5th least demanding of 13 |
| ROIC minus cost of capital | +32.7 pp | -0.1 pp | highest of 19 |
| EV / EBITDA | 6.6× | 12.3× | cheapest of 15 |
| Net debt / EBITDA | -2.1× | -1.0× | 3rd least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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 |
| Hong Kong Zcloud Technology Construction 9900.HK | Hong Kong | $2.03B | +16% | -33% | 0% | n/a | n/a | n/a |
| Per Aarsleff Holding A/S PAAL-B.CO | Denmark | $2.02B | -6% | +14% | 5% | 13.4× | -7.6% | +11.2% |
| Chongqing Sanfeng Environment 601827.SS | China | $2.00B | -3% | +5% | 27% | 10.4× | -11.4% | +2.4% |
| CSSC Science & Technology 600072.SS | China | $1.99B | -35% | +8% | -37% | n/a | n/a | n/a |
| 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% |
| Yankey Engineering 6691.TW | Taiwan | $2.16B | -16% | +63% | 16% | 9.7× | 2.8% | +33.1% |
| 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% |
| IRB Infrastructure Developers IRB.NS | India | $2.18B | -21% | -14% | 27% | 16.0× | 9.2% | +4.2% |
| 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 |
| Penta-Ocean Construction 1893.T | Japan | $2.25B | -29% | +7% | 7% | 8.9× | 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% |
| 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 |
| 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 |