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Employees: 2,440
Size Nichirin (5184.T) is a Japan Industrials company (Miscellaneous Manufacturing) with a market value of $367M, the 1234th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,065 on 6 Nov 2026.
Performance Over six months the shares gained 3.3%, against -27.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 13.3% over the last twelve months (peer median +5.9%); the operating margin is 11.7% (peer median 6.3%).
Valuation It trades at 0.6× enterprise value to sales against a peer median of 2.2× (cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.8 points above its cost of capital (7.6% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥80.2B | ¥73.7B | ¥71.4B | ¥70.6B | ¥64.2B |
| Revenue growth | — | +3% | +1% | +10% | — |
| Gross profit | ¥18.4B | ¥17.7B | ¥17.3B | ¥16.9B | ¥14.7B |
| EBITDA | ¥12.8B | ¥12.3B | ¥12.2B | ¥12.3B | ¥10.3B |
| Net income | ¥5.39B | ¥5.51B | ¥6.17B | ¥5.92B | ¥4.58B |
| Free cash flow | n/a | ¥6.13B | ¥4.55B | ¥6.65B | ¥4.75B |
| Capital expenditure | n/a | ¥2.31B | ¥4.22B | ¥3.33B | ¥2.17B |
| Total debt | ¥2.19B | ¥2.13B | ¥1.52B | ¥1.47B | ¥2.51B |
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 | 5184.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.2% | -11.5% | 4th highest of 21 |
| 6-month return | +3.3% | -27.3% | 3rd highest of 21 |
| Distance from 52-week high | -7.1% | -44.5% | highest of 21 |
| Revenue growth (TTM) | +13.3% | +5.9% | 5th highest of 21 |
| Operating margin | 11.7% | 6.3% | highest of 21 |
| EV / Sales | 0.6× | 2.2× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -11.1% | 5.2% | least demanding of 10 |
| Growth delivered (Del g) | +7.4% | +9.8% | 4th lowest of 10 |
| Hurdle (Req g minus delivered) | -18.5 pp | -1.0 pp | 2nd least demanding of 10 |
| ROIC minus cost of capital | +3.8 pp | -2.0 pp | 4th highest of 21 |
| EV / EBITDA | 3.5× | 23.0× | cheapest of 6 |
| Net debt / EBITDA | -1.7× | 1.5× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nichirin 5184.T | Japan | $367M | +3% | +13% | 12% | 0.6× | -11.1% | +7.4% |
| Guangzhou Echom Science & Technology 002420.SZ | China | $380M | -16% | -4% | 3% | 1.0× | 17.4% | -0.6% |
| Jahen Household Products 300955.SZ | China | $354M | -37% | +23% | -1% | 2.4× | n/a | n/a |
| Fujian SBS Zipper Science & Technology 002098.SZ | China | $382M | -17% | 0% | 9% | 0.9× | -9.1% | +11.8% |
| Fujian Yuanxiang New Materials 301300.SZ | China | $383M | -34% | +7% | 12% | 4.3× | 18.5% | +9.9% |
| Yachoo Technology 001325.SZ | China | $388M | -40% | +6% | 10% | 1.6× | -6.8% | +4.3% |
| Ledman Optoelectronic 300162.SZ | China | $388M | -30% | -13% | -7% | 2.4× | n/a | n/a |
| Shandong Tengda Fasten Tech 001379.SZ | China | $393M | -34% | +2% | 2% | 1.4× | 13.8% | +13.0% |
| Goody Science & Technology 002694.SZ | China | $342M | +4% | +7% | -7% | 2.6× | n/a | n/a |
| Zhejiang Jinsheng New Materials 300849.SZ | China | $394M | -23% | 0% | -16% | 8.4× | n/a | n/a |
| Perfect 603059.SS | China | $335M | -36% | +21% | 9% | 1.6× | 5.2% | +13.1% |
| Borosil BOROLTD.NS | India | $403M | +22% | +9% | 7% | 3.1× | n/a | n/a |
| Tongda Smart Tech (Xiamen) 001368.SZ | China | $404M | -22% | +8% | 8% | 1.9× | 8.5% | +8.7% |
| Poongsan 005810.KS | South Korea | $331M | -28% | +15% | 12% | 1.0× | -3.6% | +9.8% |
| Changzhou Wujin Zhongrui Electronic Technology 301587.SZ | China | $327M | -27% | +42% | 10% | 2.1× | n/a | n/a |
| Shenzhen Liantronics 300269.SZ | China | $324M | -35% | -31% | -9% | 6.1× | n/a | n/a |
| Ningbo Lian Technology 300784.SZ | China | $324M | -20% | +6% | 6% | 3.7× | n/a | n/a |
| Shenzhen Chuangyitong Technology 300991.SZ | China | $419M | -62% | -10% | -1% | 4.8× | n/a | n/a |
| Karrie International 1050.HK | Hong Kong | $419M | -40% | +7% | 11% | 1.1× | n/a | n/a |
| Shanghai Yahong Moulding 603159.SS | China | $420M | -27% | -16% | -3% | 6.8× | n/a | n/a |
| Shandong Donghong Pipe Industry 603856.SS | China | $437M | -21% | +5% | 7% | 1.4× | -2.7% | -1.6% |