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Employees: 748
Size Business Engineering (4828.T) is a Japan Information Technology company (Information Technology Services) with a market value of $463M, the 1116th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,218 on 6 Nov 2026.
Performance Over six months the shares gained 1.2%, against -21.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 15.7% over the last twelve months (peer median +6.5%); the operating margin is 26.2% (peer median 6.3%).
Valuation It trades at 15.6× forward earnings against a peer median of 14.4× (6th most expensive of 12).
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 +7%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 107.9 points above its cost of capital (6.5% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥25.2B | ¥24.4B | ¥20.8B | ¥19.5B | ¥18.5B |
| Revenue growth | — | +18% | +7% | +5% | — |
| Gross profit | ¥11.7B | ¥11.2B | ¥9.09B | ¥7.85B | ¥6.99B |
| EBITDA | ¥7.56B | ¥7.34B | ¥5.50B | ¥4.59B | ¥3.95B |
| Net income | ¥4.79B | ¥4.89B | ¥3.33B | ¥2.63B | ¥2.33B |
| Free cash flow | n/a | ¥5.88B | ¥3.42B | ¥3.50B | ¥3.25B |
| Capital expenditure | n/a | ¥1.16B | ¥1.12B | ¥987M | ¥711M |
| Total debt | ¥33.4M | ¥100M | ¥100M | ¥100M | ¥100M |
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 | 4828.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.4% | -6.9% | 9th highest of 21 |
| 6-month return | +1.2% | -21.9% | 7th highest of 21 |
| Distance from 52-week high | -30.7% | -39.4% | 8th highest of 21 |
| Revenue growth (TTM) | +15.7% | +6.5% | 9th highest of 21 |
| Operating margin | 26.2% | 6.3% | 2nd highest of 19 |
| Forward P/E | 15.6× | 14.4× | 6th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | -6.5% | 3.9% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +6.7% | +5.4% | 5th highest of 13 |
| Hurdle (Req g minus delivered) | -13.1 pp | -0.5 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | +107.9 pp | -5.1 pp | highest of 17 |
| EV / EBITDA | 8.0× | 9.4× | 4th cheapest of 11 |
| Net debt / EBITDA | -1.7× | -0.7× | 4th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Business Engineering 4828.T | Japan | $463M | +1% | +16% | 26% | 15.6× | -6.5% | +6.7% |
| CSE Global 544.SI | Singapore | $467M | -45% | +25% | 5% | 13.5× | n/a | n/a |
| Beijing Jingyeda Technology 003005.SZ | China | $458M | -26% | +26% | -21% | n/a | n/a | n/a |
| CRESCO 4674.T | Japan | $471M | +36% | +10% | 10% | 13.7× | -1.6% | +10.2% |
| Guangdong TianYiMa Information Industry 301178.SZ | China | $472M | -13% | +100% | 1% | n/a | 37.4% | +5.5% |
| Shanghai Newtouch Software 688590.SS | China | $454M | -28% | +5% | -7% | 134.5× | n/a | n/a |
| Troy Information Technology 300366.SZ | China | $474M | -19% | -56% | -80% | n/a | n/a | n/a |
| Beijing Trustfar Technology 300231.SZ | China | $481M | -28% | +4% | 3% | n/a | 21.0% | -4.3% |
| Rimini Street RMNI | United States | $484M | +30% | +3% | 7% | 13.1× | 11.0% | +5.2% |
| Altia Consultores ALC.MC | Spain | $444M | -17% | +23% | 8% | n/a | n/a | n/a |
| Mastek MASTEK.NS | India | $485M | -12% | +6% | 13% | 11.1× | 6.7% | +16.5% |
| Haoyun Technologies 300448.SZ | China | $490M | -40% | -52% | n/a | n/a | 1.8% | -12.8% |
| Brilliance Technology 300542.SZ | China | $491M | -27% | -22% | 2% | n/a | n/a | n/a |
| Comp CMP.WA | Poland | $427M | +64% | +7% | 11% | 22.5× | 6.0% | +3.3% |
| Smaregi 4431.T | Japan | $421M | +42% | +21% | 26% | 22.4× | -3.2% | +32.0% |
| Hansen Technologies HSN.AX | Australia | $511M | -25% | -2% | 17% | 14.4× | 0.9% | +4.7% |
| Computer Engineering & Consulting 9692.T | Japan | $420M | +5% | +18% | 11% | 10.6× | -18.5% | +6.5% |
| NETGEAR NTGR | United States | $513M | -31% | -1% | -4% | 46.4× | n/a | n/a |
| MMTec MTC | United States | $516M | -31% | +100% | n/a | n/a | n/a | n/a |
| m-up 3661.T | Japan | $413M | +24% | +22% | 16% | 19.3× | -7.5% | +20.8% |
| Fujian Rongji Software 002474.SZ | China | $520M | -24% | -22% | -21% | n/a | 31.5% | -8.1% |