Loading…
Employees: 863
Size KH Neochem (4189.T) is a Japan Materials company (Chemicals: Major Diversified) with a market value of $732M, the 879th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,300 on 6 Nov 2026.
Performance Over six months the shares gained 20.0%, against -18.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 10.6% over the last twelve months (peer median +8.1%); the operating margin is 11.6% (peer median 5.2%).
Valuation It trades at 12.3× forward earnings against a peer median of 25.1× (3rd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.4 points above its cost of capital (5.5% WACC).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥110B | ¥115B | ¥120B | ¥115B | ¥115B |
| Revenue growth | — | -4% | +4% | 0% | — |
| Gross profit | ¥26.3B | ¥24.9B | ¥25.3B | ¥21.9B | ¥24.4B |
| EBITDA | ¥19.0B | ¥17.6B | ¥17.2B | ¥14.6B | ¥16.8B |
| Net income | ¥9.15B | ¥7.80B | ¥8.36B | ¥6.83B | ¥8.07B |
| Free cash flow | n/a | ¥9.13B | -¥1.45B | ¥8.11B | -¥5.27B |
| Capital expenditure | n/a | ¥4.80B | ¥8.62B | ¥5.26B | ¥10.5B |
| Total debt | ¥16.4B | ¥18.3B | ¥19.2B | ¥16.4B | ¥22.5B |
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.
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 | 4189.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.3% | -14.8% | 8th highest of 21 |
| 6-month return | +20.0% | -18.6% | 4th highest of 21 |
| Distance from 52-week high | -7.6% | -39.4% | 2nd highest of 21 |
| Revenue growth (TTM) | -10.6% | +8.1% | 2nd lowest of 21 |
| Operating margin | 11.6% | 5.2% | 7th highest of 21 |
| Forward P/E | 12.3× | 25.1× | 3rd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -5.7% | 17.7% | least demanding of 12 |
| Growth delivered (Del g) | +8.3% | +3.9% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | -14.0 pp | +16.2 pp | 2nd least demanding of 12 |
| ROIC minus cost of capital | +4.4 pp | -3.5 pp | 5th highest of 21 |
| EV / EBITDA | 6.7× | 20.6× | 2nd cheapest of 6 |
| Net debt / EBITDA | 0.5× | -1.5× | most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| KH Neochem 4189.T | Japan | $732M | +20% | -11% | 12% | 12.3× | -5.7% | +8.3% |
| Liaoning Oxiranchem,Inc 300082.SZ | China | $716M | -39% | +4% | 0% | 35.1× | n/a | n/a |
| JCU 4975.T | Japan | $759M | -26% | +2% | 40% | 13.6× | 6.3% | +7.0% |
| Daxin Materials 5234.TW | Taiwan | $767M | -42% | +10% | 19% | 25.7× | 17.7% | +1.5% |
| Hubei Chaozhuo Aviation Technology 688237.SS | China | $776M | +6% | -1% | 1% | 41.5× | 45.3% | +26.0% |
| Xinyaqiang Silicon Chemistry 603155.SS | China | $788M | -6% | +6% | 10% | 37.0× | 31.1% | +3.9% |
| Jiansu Huachang Chemical 002274.SZ | China | $679M | -25% | +9% | -3% | 5.7× | 23.6% | +1.3% |
| Ningxia Zhongke Biotechnology 600165.SS | China | $679M | -19% | +8% | -73% | n/a | n/a | n/a |
| Shandong Sanyuan Biotechnology 301206.SZ | China | $676M | -18% | +15% | 4% | n/a | n/a | n/a |
| Jiangxi Hungpai New Material 605366.SS | China | $821M | -47% | +2% | -11% | 236.0× | n/a | n/a |
| Sanyo Chemical Industries 4471.T | Japan | $823M | +24% | 0% | 10% | 10.5× | -5.1% | -2.5% |
| Shandong Yanggu Huatai Chemical 300121.SZ | China | $648M | -20% | +11% | 8% | 16.1× | 3.2% | +12.1% |
| Polyrocks Chemical 688669.SS | China | $831M | +40% | -8% | -6% | n/a | 35.9% | +15.2% |
| Shandong Jianbang New Material 603285.SS | China | $631M | -40% | +8% | 22% | n/a | n/a | n/a |
| Hunan Xiangtou Goldsky Titanium Industry Technology 688750.SS | China | $629M | -27% | +4% | 6% | n/a | 30.5% | -4.3% |
| Hunan Lead Power Technology 300530.SZ | China | $621M | +2% | +16% | -61% | n/a | n/a | n/a |
| Raghav Productivity Enhancers RPEL.NS | India | $864M | +133% | +38% | 28% | n/a | n/a | n/a |
| Suzhou Highfine Biotech 301393.SZ | China | $865M | -8% | +36% | 17% | 32.3× | n/a | n/a |
| Guangzhou Sanfu Newmaterials Technology 688359.SS | China | $870M | -41% | +8% | -7% | n/a | n/a | n/a |
| Ningbo Bohui Chemical Technology 300839.SZ | China | $606M | -4% | +42% | 4% | 24.6× | 3.2% | +23.1% |
| Zhejiang Dragon Technology 603004.SS | China | $597M | -18% | -11% | 16% | 19.1× | 16.4% | +1.7% |