Loading…
Japanese specialty chemicals maker producing chlor-alkali products, epoxy/allyl compounds and functional polymers.
Japanese specialty chemicals maker producing chlor-alkali products, epoxy/allyl compounds and functional polymers.
Moat: narrow (process know-how). Niche specialty-chemical manufacturing know-how in a competitive commodity-adjacent segment.
Headquarters: Osaka, Japan · Founded: 1915 · Employees: 1,032
Size Osaka Soda (4046.T) is a Japan Materials company (Chemicals: Specialty) with a market value of $1.52B, the 572nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,835 on 6 Nov 2026.
Performance Over six months the shares fell 1.9%, against -21.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +8.4%); the operating margin is 19.1% (peer median 7.4%).
Valuation It trades at 13.5× forward earnings against a peer median of 19.0× (7th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +5 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 4.7 points above its cost of capital (9.8% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥104B | ¥100.0B | ¥96.4B | ¥94.6B | ¥104B |
| Revenue growth | — | +4% | +2% | -9% | — |
| Gross profit | ¥36.4B | ¥33.4B | ¥28.8B | ¥24.5B | ¥30.2B |
| EBITDA | ¥24.5B | ¥22.0B | ¥17.8B | ¥14.2B | ¥19.0B |
| Net income | ¥17.4B | ¥15.5B | ¥10.3B | ¥7.65B | ¥10.6B |
| Free cash flow | n/a | ¥13.3B | ¥10.3B | ¥3.48B | ¥4.58B |
| Capital expenditure | n/a | ¥7.39B | ¥7.56B | ¥5.36B | ¥5.11B |
| Total debt | ¥7.70B | ¥7.83B | ¥8.40B | ¥8.51B | ¥8.58B |
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 |
|---|---|---|---|---|---|---|
| Osaka Soda 4046.T | $1.52B | -2% | +8% | 19% | 13.5× | 5.1% |
| Nagase & 8012.T | $2.96B | -9% | +8% | 5% | 10.9× | 3.5% |
| Kaneka 4118.T | $2.30B | +23% | +4% | 5% | 11.6× | 4.9% |
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 | 4046.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.6% | -14.3% | 10th lowest of 21 |
| 6-month return | -1.9% | -21.4% | 6th highest of 20 |
| Distance from 52-week high | -27.6% | -41.2% | 5th highest of 21 |
| Revenue growth (TTM) | +8.1% | +8.4% | 11th highest of 21 |
| Operating margin | 19.1% | 7.4% | 3rd highest of 21 |
| Forward P/E | 13.5× | 19.0× | 7th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 5.1% | 16.9% | 7th least demanding of 16 |
| Growth delivered (Del g) | +0.5% | +4.5% | 5th lowest of 16 |
| Hurdle (Req g minus delivered) | +4.5 pp | +10.4 pp | 8th least demanding of 16 |
| ROIC minus cost of capital | +4.7 pp | -2.2 pp | 2nd highest of 21 |
| EV / EBITDA | 8.3× | 8.5× | 5th cheapest of 10 |
| Net debt / EBITDA | -1.4× | 1.7× | 2nd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Osaka Soda 4046.T | Japan | $1.52B | -2% | +8% | 19% | 13.5× | 5.1% | +0.5% |
| Befar 6745.HK | Hong Kong | $1.52B | n/a | +25% | 5% | 9.7× | 3.6% | +17.3% |
| Stepan SCL | United States | $1.52B | +26% | +10% | 4% | 19.0× | 14.9% | +4.5% |
| Denka 4061.T | Japan | $1.51B | -33% | -3% | 9% | 12.7× | n/a | n/a |
| KumhoPetrochem 011780.KS | South Korea | $1.50B | -37% | 0% | 7% | 4.3× | -16.5% | +7.5% |
| Anhui Wanwei Updated High-Tech Material Industry 600063.SS | China | $1.49B | -32% | +3% | 4% | 20.0× | n/a | n/a |
| ADAMA 000553.SZ | China | $1.55B | -33% | -6% | 3% | 30.7× | -7.2% | +0.3% |
| Shaily Engineering Plastics SHAILY.NS | India | $1.48B | +14% | +18% | 24% | 56.7× | 35.8% | +22.8% |
| Proto Labs PRLB | United States | $1.57B | -5% | +12% | 8% | 27.4× | 26.8% | +4.2% |
| Genesis Energy, L.P GEL | United States | $1.57B | -21% | -17% | 19% | n/a | 2.2% | -2.2% |
| LOTTE CHEMICAL 011170.KS | South Korea | $1.45B | -59% | +5% | -2% | n/a | n/a | n/a |
| Elementis ELM.L | United Kingdom | $1.45B | +34% | -12% | 20% | 16.9× | 16.9% | -4.8% |
| Jilin OLED Material Tech 688378.SS | China | $1.45B | -17% | +74% | 18% | 28.1× | 46.2% | +15.2% |
| Guangdong Dowstone Technology 300409.SZ | China | $1.59B | -50% | +34% | 6% | 14.0× | n/a | n/a |
| Guangdong Orient Zirconic Industry Science & Technology 002167.SZ | China | $1.44B | +5% | +17% | 14% | 48.5× | 32.4% | +10.1% |
| Anhui Guangxin Agrochemical 603599.SS | China | $1.43B | -29% | -13% | 18% | 13.1× | -3.8% | +0.6% |
| Tokuyama 4043.T | Japan | $1.63B | -11% | +7% | 9% | 5.8× | 1.1% | +2.9% |
| Chambal Fertilisers & Chemicals CHAMBLFERT.NS | India | $1.63B | -15% | +6% | 12% | 7.2× | n/a | n/a |
| Huabao Technology 300741.SZ | China | $1.63B | +7% | +17% | 1% | n/a | 45.3% | -8.5% |
| Ningbo Yunsheng 600366.SS | China | $1.64B | -24% | +33% | 6% | 19.3× | 19.1% | +17.9% |
| Fujian Kuncai Material Technology 603826.SS | China | $1.64B | -51% | +59% | 5% | 61.0× | 24.1% | +11.0% |