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Japanese paper maker producing tissue, paper towels and diapers under the Elleair brand, plus industrial paper.
Japanese paper maker producing tissue, paper towels and diapers under the Elleair brand, plus industrial paper.
Household and personal-care products, led by tissues and diapers sold through retailers, carry the earnings, since branded goods hold prices better than commodity paper. Pulp and energy costs weigh on the older printing and packaging paper side. Diapers are also sold abroad, notably in Asia.
In one line: Japan's Kimberly-Clark.
Moat: narrow (brand, scale). Established Elleair consumer brand and scale in a commodity paper-products market.
Headquarters: Ehime, Japan · Founded: 1943 · Employees: 11,639
Size Daio Paper (3880.T) is a Japan Materials company (Pulp & Paper) with a market value of $1.03B, the 722nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥981 on 6 Nov 2026.
Performance Over six months the shares gained 2.9%, against -14.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 1.3% over the last twelve months (peer median -1.4%); the operating margin is 3.5% (peer median 1.8%).
Valuation It trades at 15.6× forward earnings against a peer median of 15.3× (6th most expensive of 14).
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 +3%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.1 points below its cost of capital (5.0% WACC).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥670B | ¥667B | ¥669B | ¥672B | ¥646B |
| Revenue growth | — | 0% | 0% | +4% | — |
| Gross profit | ¥159B | ¥159B | ¥144B | ¥143B | ¥110B |
| EBITDA | ¥71.0B | ¥71.0B | ¥58.2B | ¥63.3B | ¥26.2B |
| Net income | ¥8.09B | ¥8.89B | -¥11.2B | ¥4.47B | -¥34.7B |
| Free cash flow | n/a | ¥34.6B | ¥12.2B | ¥29.2B | -¥72.8B |
| Capital expenditure | n/a | ¥24.0B | ¥33.2B | ¥31.2B | ¥49.2B |
| Total debt | ¥405B | ¥443B | ¥455B | ¥486B | ¥490B |
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 |
|---|---|---|---|---|---|---|
| Daio Paper 3880.T | $1.03B | +3% | +1% | 4% | 15.6× | 3.7% |
| Kimberly-Clark KMB | $66.5B | +12% | -12% | 14% | 15.3× | 4.1% |
| Oji 3861.T | $4.31B | -3% | 0% | 2% | 20.6× | 20.4% |
| Nippon Paper Industries 3863.T | $899M | -6% | +2% | 2% | 11.8× | 15.4% |
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 | 3880.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | -7.4% | 4th highest of 21 |
| 6-month return | +2.9% | -14.7% | 3rd highest of 21 |
| Distance from 52-week high | -21.1% | -33.6% | 6th highest of 21 |
| Revenue growth (TTM) | +1.3% | -1.4% | 10th highest of 21 |
| Operating margin | 3.5% | 1.8% | 7th highest of 21 |
| Forward P/E | 15.6× | 15.3× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 3.7% | 5.3% | 7th least demanding of 13 |
| Growth delivered (Del g) | +3.4% | +3.2% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | +0.2 pp | -1.5 pp | 6th most demanding of 13 |
| ROIC minus cost of capital | -2.1 pp | -4.1 pp | 8th highest of 21 |
| EV / EBITDA | 6.8× | 10.4× | cheapest of 7 |
| Net debt / EBITDA | 4.2× | 4.6× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Daio Paper 3880.T | Japan | $1.03B | +3% | +1% | 4% | 15.6× | 3.7% | +3.4% |
| Yueyang Forest & Paper 600963.SS | China | $1.02B | -14% | -10% | -5% | 19.9× | n/a | n/a |
| Shanying International 600567.SS | China | $962M | -27% | +1% | -7% | n/a | -11.8% | +2.9% |
| Fujian Qingshan Paper Industry 600103.SS | China | $930M | -35% | +5% | 2% | n/a | 14.6% | -0.5% |
| Nippon Paper Industries 3863.T | Japan | $899M | -6% | +2% | 2% | 11.8× | 15.4% | +3.4% |
| Wuzhou Special Paper 605007.SS | China | $882M | -22% | +17% | 5% | 12.1× | n/a | n/a |
| Japan Pulp and Paper 8032.T | Japan | $877M | +9% | +10% | 2% | 15.3× | 3.5% | +5.6% |
| Metsa Board METSA.HE | Finland | $1.22B | -17% | -11% | -4% | n/a | 16.7% | -1.2% |
| Shandong Bohui Paper Industry 600966.SS | China | $841M | -33% | -2% | 2% | 38.0× | -0.6% | +6.5% |
| Sichuan Jinshi Technology 002951.SZ | China | $840M | -7% | -52% | -102% | n/a | n/a | n/a |
| Hokuetsu 3865.T | Japan | $816M | -9% | -5% | 2% | 17.2× | n/a | n/a |
| Guangdong Guanhao High-Tech 600433.SS | China | $788M | -37% | -1% | -4% | 11.7× | 25.9% | +2.0% |
| Zhejiang Jingxing Paper Joint Stock 002067.SZ | China | $787M | -27% | +18% | 0% | n/a | n/a | n/a |
| YFY 1907.TW | Taiwan | $1.40B | +18% | -2% | 0% | 23.1× | 7.1% | +0.1% |
| C&S Paper 002511.SZ | China | $1.44B | -8% | +2% | 7% | 21.7× | -2.1% | +2.3% |
| Zhongmin Energy 600163.SS | China | $1.49B | -15% | +18% | 49% | 15.5× | -9.8% | +5.0% |
| JK Paper JKPAPER.NS | India | $707M | -1% | +12% | 8% | 9.8× | 19.8% | +20.7% |
| Sylvamo SLVM | United States | $1.57B | -4% | -7% | 6% | 9.6× | n/a | n/a |
| Shandong Huatai Paper 600308.SS | China | $662M | -25% | -5% | -2% | n/a | n/a | n/a |
| Hangzhou Huawang New Material Technology 605377.SS | China | $655M | -20% | -13% | 8% | 13.2× | -7.9% | +14.8% |
| ENCE Energia y Celulosa ENC.MC | Spain | $608M | -9% | -1% | 1% | n/a | n/a | n/a |