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Japanese distributor of medical equipment that also plans and builds hospital facilities.
Japanese distributor of medical equipment that also plans and builds hospital facilities.
Earns distribution margins as hospitals order equipment and supplies from it, and hospital construction projects bring larger one-off contracts. Dispensing pharmacies and elder-care services add a steadier line. Many of its hospital relationships are long-standing.
In one line: A medical-equipment distributor plus hospital-facility planner, unlike a single US peer.
Moat: narrow (customer qualification, distribution). Combining equipment sales with facility design/construction locks in long hospital relationships.
Headquarters: Hiroshima, Japan · Founded: 1948 · Employees: 7,819
Size Ship Healthcare (3360.T) is a Japan Health Care company (Medical Distributors) with a market value of $1.34B, the 615th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,426 on 6 Nov 2026.
Performance Over six months the shares gained 4.5%, against -1.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 6.5% over the last twelve months (peer median +5.2%); the operating margin is 3.3% (peer median 2.8%).
Valuation It trades at 13.8× forward earnings against a peer median of 17.4× (3rd cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.1 points above its cost of capital (5.0% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥731B | ¥718B | ¥678B | ¥631B | ¥572B |
| Revenue growth | — | +6% | +7% | +10% | — |
| Gross profit | ¥66.6B | ¥66.7B | ¥66.7B | ¥65.6B | ¥60.6B |
| EBITDA | ¥31.6B | ¥31.6B | ¥32.2B | ¥31.9B | ¥28.6B |
| Net income | ¥13.5B | ¥13.4B | ¥15.1B | ¥13.8B | ¥12.1B |
| Free cash flow | n/a | ¥17.8B | ¥16.6B | ¥28.4B | ¥10.6B |
| Capital expenditure | n/a | ¥4.71B | ¥4.18B | ¥3.52B | ¥3.91B |
| Total debt | ¥26.5B | ¥31.9B | ¥39.3B | ¥59.9B | ¥76.0B |
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 |
|---|---|---|---|---|---|---|
| Ship Healthcare 3360.T | $1.34B | +4% | +7% | 3% | 13.8× | -14.7% |
| AS ONE 7476.T | $1.08B | +15% | +10% | 12% | 18.2× | -1.0% |
| NIPRO 8086.T | $1.55B | -9% | +3% | 6% | 14.9× | n/a |
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 | 3360.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.7% | +2.7% | 4th lowest of 21 |
| 6-month return | +4.5% | -1.7% | 8th highest of 21 |
| Distance from 52-week high | -14.6% | -19.4% | 8th highest of 21 |
| Revenue growth (TTM) | +6.5% | +5.2% | 9th highest of 21 |
| Operating margin | 3.3% | 2.8% | 10th highest of 21 |
| Forward P/E | 13.8× | 17.4× | 3rd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -14.7% | -1.1% | least demanding of 17 |
| Growth delivered (Del g) | +7.6% | +6.1% | 7th highest of 17 |
| Hurdle (Req g minus delivered) | -22.4 pp | -7.7 pp | least demanding of 17 |
| ROIC minus cost of capital | +13.1 pp | +1.6 pp | highest of 21 |
| Net debt / EBITDA | -1.8× | 0.8× | 4th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ship Healthcare 3360.T | Japan | $1.34B | +4% | +7% | 3% | 13.8× | -14.7% | +7.6% |
| Shanghai C and D INNOSTIC Medical Technology 301584.SZ | China | $1.20B | -28% | +8% | 3% | n/a | -1.3% | +17.9% |
| Shinva Medical Instrument 600587.SS | China | $1.16B | -7% | +6% | 5% | 14.2× | -5.9% | +1.2% |
| Toho 8129.T | Japan | $1.60B | -14% | +4% | 1% | 21.6× | -7.4% | +5.1% |
| Redcare Pharmacy RDC.DE | Germany | $1.63B | +52% | +19% | 0% | n/a | n/a | n/a |
| AS ONE 7476.T | Japan | $1.08B | +15% | +10% | 12% | 18.2× | -1.0% | +6.3% |
| Nanjing Pharmaceutical 600713.SS | China | $1.03B | +1% | +3% | 2% | n/a | n/a | n/a |
| DocMorris DOCM.SW | Switzerland | $1.02B | +136% | +11% | -8% | n/a | n/a | n/a |
| Arjo ARJO-B.ST | Sweden | $1.02B | +48% | 0% | 8% | 21.3× | -1.3% | +3.9% |
| Guangxi LiuYao 603368.SS | China | $994M | +2% | +2% | 5% | 9.9× | -9.5% | +6.0% |
| Shanghai Haohai Biological Technology 688366.SS | China | $946M | -24% | -9% | -2% | 17.4× | 18.9% | +13.2% |
| Entero Healthcare Solutions ENTERO.NS | India | $875M | +50% | +32% | 4% | 46.5× | 21.8% | +29.9% |
| Neuca NEU.WA | Poland | $817M | -1% | +8% | 2% | 15.3× | 5.0% | +8.1% |
| Suzuken 9987.T | Japan | $2.29B | -9% | +5% | 1% | 15.0× | -11.9% | +3.2% |
| Hanmi Science 008930.KS | South Korea | $2.71B | +44% | +6% | 5% | n/a | 24.2% | +9.6% |
| Alfresa 2784.T | Japan | $2.79B | -3% | +5% | 1% | 17.4× | -9.1% | +3.5% |
| Shanghai New World 600628.SS | China | $623M | -11% | -2% | 6% | n/a | 0.3% | +1.0% |
| Asker Healthcare ASKER.ST | Sweden | $2.98B | -5% | +12% | 7% | 26.6× | 1.2% | +12.7% |
| GKHT Medical Technology 301370.SZ | China | $569M | -22% | -11% | 1% | n/a | 14.4% | +7.5% |
| COSMOS Pharmaceutical 3349.T | Japan | $3.20B | +5% | +9% | 4% | 15.7× | n/a | n/a |
| Arata 2733.T | Japan | $552M | -7% | +3% | 1% | 11.9× | -7.1% | +3.8% |