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World-leading maker of sputtering targets and rolled copper foil, the specialty metal materials used inside computer chips.
World-leading maker of sputtering targets and rolled copper foil, the specialty metal materials used inside computer chips.
Sells sputtering targets, blocks of ultra-pure metal used to coat chips with wiring layers, and rolled copper foil for flexible circuits, both qualified by customers so that a buyer stays for the life of a process. Spun out of ENEOS and listed separately in 2025.
In one line: A niche, high-share materials supplier with no direct US-listed peer at this scale.
Moat: wide (scale, process know-how, customer qualification). About 60% global share in sputtering targets and about 80% in rolled copper foil, both qualified, sticky supply positions.
Headquarters: Tokyo, Japan · Employees: 10,450
Size JX Advanced Metals (5016.T) is a Japan Materials company (Other Metals/Minerals) with a market value of $14.6B, the 100th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,435 on 6 Nov 2026.
Performance Over six months the shares fell 49.2%, against -23.8% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 29.7% over the last twelve months (peer median +24.9%); the operating margin is 11.3% (peer median 16.0%).
Valuation It trades at 12.7× forward earnings against a peer median of 12.3× (11th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is -19%, so the hurdle is +41 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.4 points below its cost of capital (9.6% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥954B | ¥885B | ¥715B | ¥1.51T | ¥1.64T |
| Revenue growth | — | +24% | -53% | -8% | — |
| Gross profit | ¥218B | ¥202B | ¥157B | ¥173B | ¥243B |
| EBITDA | ¥154B | ¥139B | ¥101B | ¥107B | ¥186B |
| Net income | ¥139B | ¥105B | ¥68.3B | ¥103B | ¥36.9B |
| Free cash flow | n/a | ¥32.0B | ¥152B | -¥46.0B | -¥35.4B |
| Capital expenditure | n/a | ¥75.5B | ¥63.4B | ¥84.4B | ¥71.6B |
| Total debt | ¥453B | ¥342B | ¥321B | ¥389B | ¥719B |
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 |
|---|---|---|---|---|---|---|
| JX Advanced Metals 5016.T | $14.6B | -49% | +30% | 11% | 12.7× | 22.2% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| Materion MTRN | $3.88B | -7% | +28% | 7% | 22.3× | 22.7% |
| Mitsui Kinzoku 5706.T | $5.61B | -28% | +11% | 18% | 10.1× | 11.6% |
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 | 5016.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.4% | -14.9% | lowest of 21 |
| 6-month return | -49.2% | -23.8% | 2nd lowest of 21 |
| Distance from 52-week high | -58.2% | -42.3% | 4th lowest of 21 |
| Revenue growth (TTM) | +29.7% | +24.9% | 8th highest of 21 |
| Operating margin | 11.3% | 16.0% | 6th lowest of 21 |
| Forward P/E | 12.7× | 12.3× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 22.2% | 8.5% | 2nd most demanding of 12 |
| Growth delivered (Del g) | -18.6% | +13.9% | lowest of 12 |
| Hurdle (Req g minus delivered) | +40.7 pp | +1.2 pp | most demanding of 12 |
| ROIC minus cost of capital | -2.4 pp | +3.5 pp | 7th lowest of 21 |
| EV / EBITDA | 17.0× | 9.2× | 4th most expensive of 14 |
| Net debt / EBITDA | 1.5× | 0.6× | 5th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JX Advanced Metals 5016.T | Japan | $14.6B | -49% | +30% | 11% | 12.7× | 22.2% | -18.6% |
| Boliden BOL.ST | Sweden | $14.6B | -4% | +23% | 16% | 11.3× | 0.6% | +10.7% |
| Korea Zinc 010130.KS | South Korea | $14.4B | -39% | +53% | 8% | 16.2× | n/a | n/a |
| Jiangxi Copper 0358.HK | Hong Kong | $14.3B | -36% | +22% | 4% | 4.7× | n/a | n/a |
| KGHM Polska Miedz KGH.WA | Poland | $14.1B | -27% | +27% | 20% | 6.4× | 1.6% | +9.2% |
| Carpenter Technology CRS | United States | $13.8B | -35% | +10% | 23% | 20.0× | 17.4% | +16.2% |
| South32 S32.AX | Australia | $13.7B | -1% | -4% | 15% | 12.7× | 6.3% | +3.2% |
| China Tungsten & Hightech Materials 000657.SZ | China | $13.2B | -34% | +66% | 16% | 21.0× | n/a | n/a |
| Sumitomo Metal Mining 5713.T | Japan | $13.2B | -19% | +22% | 14% | 8.1× | 8.5% | +13.5% |
| China National Uranium 001280.SZ | China | $17.9B | -29% | +15% | 14% | 47.7× | n/a | n/a |
| Lundin Mining LUN.TO | Canada | $18.1B | -18% | +29% | 36% | 14.1× | 15.2% | +13.9% |
| MMG 1208.HK | Hong Kong | $11.2B | -27% | +48% | 43% | 6.3× | -11.3% | +15.6% |
| First Quantum Minerals FM.TO | Canada | $19.5B | -1% | +28% | 23% | 15.2× | n/a | n/a |
| Western Mining 601168.SS | China | $9.85B | -7% | +18% | 17% | 8.2× | -5.6% | +16.5% |
| Tongling Nonferrous Metals 000630.SZ | China | $9.83B | -20% | +46% | 6% | 10.5× | n/a | n/a |
| Hindalco Industries HINDALCO.NS | India | $22.7B | -9% | +20% | 11% | 8.6× | n/a | n/a |
| Hudbay Minerals HBM.TO | Canada | $9.35B | -10% | +13% | 32% | 12.0× | 18.1% | +15.8% |
| Zhejiang Huayou Cobalt 603799.SS | China | $9.30B | -50% | +38% | 12% | 9.3× | n/a | n/a |
| ATI ATI | United States | $23.9B | +11% | +9% | 18% | 28.0× | 20.6% | +9.0% |
| Lynas Rare Earths LYC.AX | Australia | $8.58B | -38% | +76% | 25% | 26.7× | 34.3% | +14.9% |
| Xiamen Tungsten 600549.SS | China | $8.55B | -37% | +67% | 10% | 13.2× | n/a | n/a |