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Operates membership-based resort hotels and healthcare/senior-living facilities across Japan.
Operates membership-based resort hotels and healthcare/senior-living facilities across Japan.
Members pay an entry deposit and annual fees for hotel and resort use at members-only rates, with non-member guests, restaurants and weddings at the same properties adding to revenue. Healthcare is the other pillar, through hospital and medical-membership operations as well as senior living.
In one line: Japan's answer to a timeshare operator like Marriott Vacations, plus a senior-living busin.
Moat: narrow (brand, installed base). Long-term membership contracts and an established resort/senior-living brand.
Headquarters: Nagoya, Japan · Founded: 1973 · Employees: 9,477
Size Resorttrust (4681.T) is a Japan Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $2.36B, the 432nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,736 on 6 Nov 2026.
Performance Over six months the shares fell 0.6%, against +1.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +5.7%); the operating margin is 11.8% (peer median 15.4%).
Valuation It trades at 16.4× forward earnings against a peer median of 18.4× (6th cheapest of 17).
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 +9%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.7 points above 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 | ¥271B | ¥263B | ¥249B | ¥202B | ¥170B |
| Revenue growth | — | +5% | +24% | +19% | — |
| Gross profit | ¥203B | ¥195B | ¥184B | ¥162B | ¥142B |
| EBITDA | ¥43.0B | ¥39.5B | ¥36.0B | ¥30.2B | ¥21.7B |
| Net income | ¥23.3B | ¥20.9B | ¥20.1B | ¥15.9B | ¥16.9B |
| Free cash flow | n/a | ¥32.3B | ¥16.6B | ¥21.4B | ¥14.6B |
| Capital expenditure | n/a | ¥19.8B | ¥21.0B | ¥18.8B | ¥10.3B |
| Total debt | ¥40.4B | ¥30.9B | ¥33.5B | ¥34.6B | ¥48.5B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Resorttrust 4681.T | $2.36B | -1% | +8% | 12% | 16.4× | -6.4% |
| Kyoritsu Maintenance 9616.T | $2.00B | +47% | +20% | 9% | 16.7× | 2.3% |
| Marriott Vacations Worldwide VAC | $3.80B | +43% | +5% | 11% | 11.4× | 7.7% |
| Tokyu Fudosan Holdings Corporat 3289.T | $5.69B | -7% | +6% | 14% | 8.6× | n/a |
| Seibu 9024.T | $6.11B | +2% | -41% | 10% | 29.6× | n/a |
| Hilton Grand Vacations HGV | $3.33B | -10% | +19% | 17% | 9.4× | 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 | 4681.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.3% | +7.9% | 7th lowest of 21 |
| 6-month return | -0.6% | +1.2% | 10th lowest of 21 |
| Distance from 52-week high | -16.3% | -15.4% | 11th highest of 21 |
| Revenue growth (TTM) | +8.1% | +5.7% | 9th highest of 21 |
| Operating margin | 11.8% | 15.4% | 5th lowest of 21 |
| Forward P/E | 16.4× | 18.4× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -6.4% | 5.0% | 4th least demanding of 19 |
| Growth delivered (Del g) | +9.4% | +22.4% | 3rd lowest of 19 |
| Hurdle (Req g minus delivered) | -15.8 pp | -20.6 pp | 7th most demanding of 19 |
| ROIC minus cost of capital | +7.7 pp | -0.7 pp | 2nd highest of 21 |
| EV / EBITDA | 8.8× | 13.7× | 4th cheapest of 19 |
| Net debt / EBITDA | -0.0× | 2.5× | 5th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Resorttrust 4681.T | Japan | $2.36B | -1% | +8% | 12% | 16.4× | -6.4% | +9.4% |
| Scandic Hotels SHOT.ST | Sweden | $2.29B | +16% | +3% | 13% | 17.2× | 3.2% | +24.4% |
| Leela Palaces Hotels & Resorts THELEELA.NS | India | $2.45B | +65% | +17% | 42% | 43.7× | n/a | n/a |
| BTG Hotels (Group) Co Ltd Shs -A- 600258.SS | China | $2.25B | -14% | -3% | 18% | 17.0× | -11.1% | +7.6% |
| Lindblad Expeditions LIND | United States | $2.23B | +61% | +17% | 8% | 89.0× | 33.0% | +56.4% |
| Hbx Group International HBX.MC | Spain | $2.19B | +29% | +4% | 38% | 9.6× | -4.2% | +18.4% |
| Melia Hotels International MEL.MC | Spain | $2.67B | -10% | +5% | 13% | 15.2× | 7.3% | +31.5% |
| Hotel Properties H15.SI | Singapore | $2.07B | +11% | +2% | 7% | n/a | n/a | n/a |
| EIH EIHOTEL.NS | India | $2.07B | -7% | +8% | 29% | 23.2× | 28.9% | +42.9% |
| Kyoritsu Maintenance 9616.T | Japan | $2.00B | +47% | +20% | 9% | 16.7× | 2.3% | +17.8% |
| Guoco 0053.HK | Hong Kong | $2.90B | 0% | -11% | 13% | n/a | -3.9% | +16.0% |
| Monarch Casino & Resort MCRI | United States | $1.92B | -8% | +5% | 27% | 15.6× | 6.7% | +24.2% |
| Chalet Hotels CHALET.NS | India | $1.88B | +2% | -17% | 34% | 28.1× | 24.1% | +57.5% |
| Shangri-La Asia 0069.HK | Hong Kong | $1.87B | -9% | +5% | 35% | 10.6× | -8.7% | +16.8% |
| Melco Resorts & Entertainment Ltd. Sponsored ADR MLCO | United States | $1.79B | -16% | +6% | 12% | 7.5× | -6.2% | +24.5% |
| Shanghai Jin Jiang International Hotels 600754.SS | China | $3.18B | -16% | +5% | 14% | 19.5× | -8.1% | +6.9% |
| SkiStar SKIS-B.ST | Sweden | $1.58B | +27% | +7% | 17% | 21.3× | 8.4% | +12.5% |
| ITC Hotels ITCHOTELS.NS | India | $3.85B | +5% | +65% | 25% | 34.6× | 37.0% | +64.8% |
| Monte-Carlo Societe des Bains de Mer BAIN.PA | France | $4.06B | +9% | +12% | 9% | n/a | 24.2% | +20.7% |
| Great Eagle 0041.HK | Hong Kong | $1.37B | -24% | +75% | 12% | n/a | -0.9% | +13.8% |
| Ventive Hospitality VENTIVE.NS | India | $1.34B | -17% | +15% | 29% | 26.2× | 29.9% | +78.5% |