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Japanese infrastructure group: general contractor Maeda, road-paving firm Maeda Road, machinery maker Maeda Seisakusho and Arsocia Construction.
Japanese infrastructure group: general contractor Maeda, road-paving firm Maeda Road, machinery maker Maeda Seisakusho and Arsocia Construction.
Paid on public-works and construction contracts won by tender, so volume follows national and local infrastructure budgets, with asphalt and paving materials supplied from the group's own plants. Road repair and maintenance work is more recurring than new building.
In one line: A Japanese infrastructure-construction holding company, akin to a smaller Vulcan Materials.
Moat: narrow (scale, installed base). Scale across building, civil and paving work and long relationships with public clients; tender-driven pricing limits advantage.
Headquarters: Tokyo, Japan · Founded: 2021 · Employees: 13,837
Size INFRONEER (5076.T) is a Japan Industrials company (Engineering & Construction) with a market value of $4.44B, the 265th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,180 on 6 Nov 2026.
Performance Over six months the shares gained 2.3%, against -10.8% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 44.2% over the last twelve months (peer median +13.3%); the operating margin is 6.1% (peer median 8.4%).
Valuation It trades at 6.2× forward earnings against a peer median of 19.6× (cheapest of 21).
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 +11%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points below its cost of capital (6.2% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.24T | ¥1.12T | ¥848B | ¥793B | ¥712B |
| Revenue growth | — | +33% | +7% | +11% | — |
| Gross profit | ¥181B | ¥154B | ¥109B | ¥106B | ¥92.1B |
| EBITDA | ¥124B | ¥114B | ¥82.5B | ¥83.3B | ¥79.5B |
| Net income | ¥145B | ¥76.6B | ¥32.4B | ¥32.6B | ¥33.5B |
| Free cash flow | ¥134B | ¥143B | ¥1.75B | -¥3.85B | ¥62.9B |
| Capital expenditure | ¥56.9B | ¥47.6B | ¥42.2B | ¥47.1B | ¥44.1B |
| Total debt | ¥611B | ¥613B | ¥419B | ¥504B | ¥190B |
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 |
|---|---|---|---|---|---|---|
| INFRONEER 5076.T | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% |
| Obayashi 1802.T | $12.8B | -20% | +5% | 8% | 12.3× | -1.6% |
| Taisei 1801.T | $10.8B | -38% | +2% | 9% | 9.9× | 0.6% |
| Kajima 1812.T | $12.5B | -27% | +4% | 8% | 10.8× | -1.9% |
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 | 5076.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | -1.8% | 8th lowest of 21 |
| 6-month return | +2.3% | -10.8% | 7th highest of 21 |
| Distance from 52-week high | -26.4% | -38.7% | 8th highest of 21 |
| Revenue growth (TTM) | +44.2% | +13.3% | 3rd highest of 21 |
| Operating margin | 6.1% | 8.4% | 7th lowest of 21 |
| Forward P/E | 6.2× | 19.6× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 0.0% | 8.0% | 3rd least demanding of 15 |
| Growth delivered (Del g) | +10.7% | +11.5% | 7th lowest of 15 |
| Hurdle (Req g minus delivered) | -10.7 pp | -0.5 pp | 6th least demanding of 15 |
| ROIC minus cost of capital | -1.3 pp | +2.3 pp | 5th lowest of 18 |
| EV / EBITDA | 8.8× | 12.9× | 3rd cheapest of 13 |
| Net debt / EBITDA | 2.1× | 0.9× | 7th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| INFRONEER 5076.T | Japan | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% | +10.7% |
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| Tutor Perini TPC | United States | $4.73B | +8% | +25% | 4% | 18.8× | 9.6% | +0.8% |
| MAIRE MAIRE.MI | Italy | $4.81B | -12% | +7% | 7% | 14.7× | 2.9% | +22.1% |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| Budimex BDX.WA | Poland | $4.82B | +10% | +12% | 9% | 26.5× | 15.7% | +4.1% |
| VSE VSEC | United States | $4.85B | -10% | +23% | 12% | 22.1× | n/a | n/a |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| United Integrated Services 2404.TW | Taiwan | $5.11B | -9% | +72% | 18% | 9.7× | -11.4% | +13.0% |