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Japanese IT systems integration and consulting firm within the Dentsu group, strong in financial services and ERP.
Japanese IT systems integration and consulting firm within the Dentsu group, strong in financial services and ERP.
Earns by building and then running systems to clients' specifications, billed by effort or fixed fee, with maintenance and operating contracts that recur long after the build. Banks, card issuers and manufacturers are its core clients, and the Dentsu group is both a customer and the parent.
In one line: A Japanese IT consultancy, similar to a smaller Accenture unit.
Moat: narrow (customer qualification, switching costs). Long-term systems contracts and deep integration into clients' financial/ERP systems create switching costs.
Headquarters: Tokyo, Japan · Founded: 1975 · Employees: 4,618
Size Dentsu Soken (4812.T) is a Japan Information Technology company (Data Processing Services) with a market value of $3.56B, the 319th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,872 on 6 Nov 2026.
Performance Over six months the shares gained 30.6%, against -29.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue grew 9.8% over the last twelve months (peer median +8.1%); the operating margin is 13.8% (peer median -1.0%).
Valuation It trades at 30.4× forward earnings against a peer median of 19.1× (6th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 41.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥177B | ¥165B | ¥153B | ¥143B | ¥129B |
| Revenue growth | — | +8% | +7% | +11% | — |
| Gross profit | ¥64.6B | ¥60.4B | ¥56.1B | ¥51.8B | ¥46.8B |
| EBITDA | ¥29.0B | ¥27.5B | ¥24.9B | ¥24.2B | ¥21.7B |
| Net income | ¥17.8B | ¥16.4B | ¥15.1B | ¥14.7B | ¥12.6B |
| Free cash flow | n/a | ¥18.8B | ¥23.5B | ¥13.0B | ¥11.5B |
| Capital expenditure | n/a | ¥2.73B | ¥3.18B | ¥2.38B | ¥2.89B |
| Total debt | ¥2.60B | ¥2.22B | ¥1.96B | ¥2.10B | ¥1.92B |
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 |
|---|---|---|---|---|---|---|
| Dentsu Soken 4812.T | $3.56B | +31% | +10% | 14% | 30.4× | 0.3% |
| Nomura Research Institute 4307.T | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% |
| BIPROGY 8056.T | $2.47B | -3% | +4% | 10% | 13.1× | -9.5% |
| DTS 9682.T | $1.14B | +14% | 0% | 12% | 15.5× | -9.1% |
| Fujitsu 6702.T | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% |
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 | 4812.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.3% | -10.9% | 6th highest of 21 |
| 6-month return | +30.6% | -29.5% | 6th highest of 19 |
| Distance from 52-week high | -2.0% | -39.6% | highest of 21 |
| Revenue growth (TTM) | +9.8% | +8.1% | 10th highest of 21 |
| Operating margin | 13.8% | -1.0% | 6th highest of 21 |
| Forward P/E | 30.4× | 19.1× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 0.3% | 10.9% | least demanding of 10 |
| Growth delivered (Del g) | +8.7% | +2.1% | 4th highest of 10 |
| Hurdle (Req g minus delivered) | -8.4 pp | +6.4 pp | 2nd least demanding of 10 |
| ROIC minus cost of capital | +41.4 pp | -7.5 pp | highest of 21 |
| EV / EBITDA | 17.0× | 15.5× | 5th most expensive of 13 |
| Net debt / EBITDA | -2.4× | 0.8× | 4th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dentsu Soken 4812.T | Japan | $3.56B | +31% | +10% | 14% | 30.4× | 0.3% | +8.7% |
| Kyndryl Holdings Incorporation KD | United States | $3.55B | +33% | -1% | 4% | 5.9× | 1.6% | -4.9% |
| JOYY, Inc. Sponsored ADR JOYY | United States | $3.98B | +37% | +8% | 2% | 12.9× | 19.8% | +2.1% |
| GDS 9698.HK | Hong Kong | $4.22B | -52% | +13% | 17% | 36.8× | n/a | n/a |
| Cipher Digital CIFR | United States | $2.99B | -68% | -29% | -172% | n/a | n/a | n/a |
| Megaport MP1.AX | Australia | $2.80B | +86% | +37% | -10% | 99.5× | n/a | n/a |
| Tgs TGS.OL | Norway | $2.73B | -13% | -30% | 12% | 16.3× | 5.5% | +36.2% |
| Beijing Sinnet Technology 300383.SZ | China | $2.70B | -37% | -2% | -11% | 149.7× | 46.5% | -0.7% |
| Applied Digital APLD | United States | $4.70B | -62% | +290% | -24% | n/a | n/a | n/a |
| Ionic Digital IOND | United States | $2.68B | n/a | -8% | -44% | 28.0× | n/a | n/a |
| Kingsoft Cloud 3896.HK | Hong Kong | $2.54B | -47% | +35% | -3% | n/a | n/a | n/a |
| Sunevision 1686.HK | Hong Kong | $2.46B | -29% | +6% | 52% | 14.3× | 10.9% | +10.7% |
| Csquare CSQR | United States | $2.39B | n/a | +9% | 10% | n/a | n/a | n/a |
| Nextdc NXT.AX | Australia | $5.47B | -30% | +16% | -7% | n/a | n/a | n/a |
| DXC Technology DXC | United States | $2.31B | +58% | -3% | 1% | 5.8× | 3.2% | -6.5% |
| IONOS IOS.DE | Germany | $5.49B | +23% | -34% | 23% | 19.1× | 11.0% | +5.9% |
| TeraWulf WULF | United States | $5.67B | -51% | +15% | -227% | n/a | n/a | n/a |
| Wangsu Science & Technology 300017.SZ | China | $5.90B | 0% | 0% | 15% | 49.1× | 27.3% | -3.9% |
| Hut 8 HUT | United States | $6.49B | -47% | +71% | -89% | n/a | n/a | n/a |
| ExlService EXLS | United States | $6.51B | +39% | +16% | 14% | 17.0× | 9.4% | +16.8% |
| Shenzhen Xunce Technology 3317.HK | Hong Kong | $1.93B | -79% | +287% | -3% | 200.1× | n/a | n/a |