Employees: 2,268
Size Nippon Air Conditioning Services (4658.T) is a Japan Industrials company (Miscellaneous Commercial Services) with a market value of $301M, the 1359th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,367 on 6 Nov 2026.
Performance Over six months the shares fell 12.2%, against -10.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 7.2% over the last twelve months (peer median +4.1%); the operating margin is 7.3% (peer median 5.2%).
Valuation It trades at 0.6× enterprise value to sales against a peer median of 2.0× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.1 points above its cost of capital (7.3% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥71.7B | ¥69.2B | ¥64.4B | ¥58.2B | ¥52.9B |
| Revenue growth | — | +7% | +11% | +10% | — |
| Gross profit | ¥16.2B | ¥14.9B | ¥13.0B | ¥11.0B | ¥9.33B |
| EBITDA | n/a | ¥5.39B | ¥4.67B | ¥4.02B | ¥3.23B |
| Net income | ¥4.03B | ¥3.69B | ¥3.10B | ¥2.73B | ¥1.94B |
| Free cash flow | n/a | ¥1.32B | ¥1.64B | ¥762M | ¥368M |
| Capital expenditure | n/a | ¥1.50B | ¥3.34B | ¥1.67B | ¥586M |
| Total debt | ¥3.76B | ¥3.23B | ¥3.65B | ¥1.73B | ¥1.03B |
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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 | 4658.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.2% | -2.3% | 6th lowest of 21 |
| 6-month return | -12.2% | -10.6% | 11th highest of 21 |
| Distance from 52-week high | -21.2% | -35.1% | 7th highest of 21 |
| Revenue growth (TTM) | +7.2% | +4.1% | 8th highest of 21 |
| Operating margin | 7.3% | 5.2% | 7th highest of 21 |
| EV / Sales | 0.6× | 2.0× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 4.4% | 4th least demanding of 12 |
| Growth delivered (Del g) | +7.1% | +11.2% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | -8.7 pp | -8.8 pp | 6th most demanding of 12 |
| ROIC minus cost of capital | +5.1 pp | -1.3 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Air Conditioning Services 4658.T | Japan | $301M | -12% | +7% | 7% | 0.6× | -1.6% | +7.1% |
| FSE Lifestyle Services 0331.HK | Hong Kong | $305M | -4% | -3% | 6% | 0.3× | n/a | n/a |
| Science SAG.L | United Kingdom | $308M | -4% | -11% | 17% | 1.7× | -5.8% | +8.7% |
| SIGMAXYZ 6088.T | Japan | $310M | -6% | -13% | 24% | 2.0× | -9.5% | +11.2% |
| GMO Financial Gate 4051.T | Japan | $310M | +3% | +14% | 12% | 2.3× | 17.0% | +37.2% |
| Rejlers REJL-B.ST | Sweden | $314M | -7% | +6% | 6% | 0.9× | -3.1% | +14.9% |
| Qingdao Richmat Intelligence Technology 301320.SZ | China | $315M | -34% | +20% | -3% | 1.9× | n/a | n/a |
| Jiangsu Recbio Technology 2179.HK | Hong Kong | $317M | -43% | -82% | -25,868% | 1,485.2× | n/a | n/a |
| Wuhan Nusun Landscape 300536.SZ | China | $319M | -29% | +154% | -57% | 4.8× | n/a | n/a |
| Palm Eco-Town Development 002431.SZ | China | $319M | -43% | -52% | -50% | 5.6× | 14.2% | -16.0% |
| Jaykay Enterprises JAYKAY.NS | India | $321M | +28% | +118% | 4% | 11.7× | n/a | n/a |
| Beijing ZEHO Waterfront Ecological Environment Treatment 605069.SS | China | $324M | -28% | +3% | -62% | 10.1× | n/a | n/a |
| Knowit KNOW.ST | Sweden | $327M | +48% | -6% | 2% | 0.7× | 6.3% | +12.1% |
| YingTong Telecommunication 002861.SZ | China | $329M | -27% | +15% | -8% | 2.3× | n/a | n/a |
| Wuhan Guide Technology 301633.SZ | China | $331M | -19% | -32% | -11% | 5.3× | n/a | n/a |
| Business Brain Showaota 9658.T | Japan | $332M | +63% | +6% | 7% | 1.1× | -1.2% | +7.6% |
| Hackett HCKT | United States | $334M | +25% | -8% | 13% | 1.4× | -1.2% | +5.0% |
| Keystone Law KEYS.L | United Kingdom | $335M | +38% | +21% | 9% | 1.9× | 7.3% | +15.9% |
| Elixirr International ELIX.L | United Kingdom | $340M | -29% | +29% | 21% | 1.9× | 4.4% | +37.6% |
| Integrated Service Technology 3289.TWO | Taiwan | $267M | -45% | +5% | 2% | 2.2× | 32.8% | +9.7% |
| Pico Far East 0752.HK | Hong Kong | $342M | -14% | +3% | 6% | 0.1× | n/a | n/a |