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Japanese maker of conveyor belts, industrial rubber/plastic products and precision components for factories.
Japanese maker of conveyor belts, industrial rubber/plastic products and precision components for factories.
Sells belts and hoses that wear out and are replaced, which gives repeat business with factories and warehouses. A separate precision line supplies components to electronics makers, including polishing pads used in chip manufacturing.
In one line: A diversified industrial rubber/belting maker.
Moat: none (process know-how). Diversified rubber/plastics maker competing on engineering fit rather than scale or brand.
Headquarters: Osaka, Japan · Founded: 1934 · Employees: 2,993
Size Nitta (5186.T) is a Japan Materials company (Industrial Specialties) with a market value of $1.05B, the 713th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,060 on 6 Nov 2026.
Performance Over six months the shares gained 36.0%, against -16.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 4.8% over the last twelve months (peer median +7.7%); the operating margin is 7.2% (peer median 9.3%).
Valuation It trades at 10.8× forward earnings against a peer median of 14.2× (4th cheapest of 14).
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 +3%, so the hurdle is +8 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 3.8 points below its cost of capital (7.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥94.6B | ¥91.8B | ¥90.3B | ¥88.6B | ¥88.0B |
| Revenue growth | — | +2% | +2% | +1% | — |
| Gross profit | ¥27.1B | ¥25.9B | ¥24.2B | ¥22.3B | ¥22.5B |
| EBITDA | ¥10.1B | ¥9.11B | ¥8.61B | ¥7.89B | ¥8.28B |
| Net income | ¥14.9B | ¥13.5B | ¥12.1B | ¥9.86B | ¥10.9B |
| Free cash flow | n/a | ¥5.49B | ¥503M | ¥6.16B | ¥8.57B |
| Capital expenditure | n/a | ¥4.42B | ¥6.76B | ¥3.08B | ¥3.55B |
| Total debt | ¥1.90B | ¥1.11B | ¥1.20B | ¥1.22B | ¥1.65B |
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 |
|---|---|---|---|---|---|---|
| Nitta 5186.T | $1.05B | +36% | +5% | 7% | 10.8× | 10.6% |
| Bando Chemical Industries 5195.T | $632M | +17% | +6% | 9% | 11.4× | -0.1% |
| Bridgestone 5108.T | $31.7B | +28% | +6% | 12% | 14.0× | -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 | 5186.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.4% | -6.4% | 6th lowest of 21 |
| 6-month return | +36.0% | -16.0% | 2nd highest of 21 |
| Distance from 52-week high | -17.6% | -28.9% | 6th highest of 21 |
| Revenue growth (TTM) | +4.8% | +7.7% | 8th lowest of 21 |
| Operating margin | 7.2% | 9.3% | 9th lowest of 21 |
| Forward P/E | 10.8× | 14.2× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 10.6% | 0.0% | 4th most demanding of 14 |
| Growth delivered (Del g) | +3.1% | +6.7% | 5th lowest of 14 |
| Hurdle (Req g minus delivered) | +7.5 pp | -8.3 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | -3.8 pp | +0.7 pp | 4th lowest of 21 |
| EV / EBITDA | 12.9× | 7.7× | 3rd most expensive of 12 |
| Net debt / EBITDA | -3.6× | -0.2× | 2nd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nitta 5186.T | Japan | $1.05B | +36% | +5% | 7% | 10.8× | 10.6% | +3.1% |
| Xinjiang Tianye 600075.SS | China | $1.04B | -41% | -10% | -3% | n/a | n/a | n/a |
| SK Kaken 4628.T | Japan | $1.04B | +2% | +9% | 13% | n/a | -19.4% | +5.2% |
| Chugoku Marine Paints,Ltd 4617.T | Japan | $1.04B | +4% | +10% | 13% | 12.8× | 0.0% | +11.1% |
| Intco Recycling Resources 688087.SS | China | $1.01B | -25% | +29% | 12% | 22.0× | 0.5% | +15.8% |
| ZJMI Environmental Energy 603071.SS | China | $1.00B | -15% | -4% | 3% | 9.2× | n/a | n/a |
| ELANTAS Beck India ELANTAS.NS | India | $999M | +23% | +19% | 21% | n/a | 32.4% | +17.2% |
| Morgan Advanced Materials MGAM.L | United Kingdom | $981M | +22% | -6% | 9% | 14.6× | 9.4% | +1.8% |
| Xinjiang Xuefeng Sci-Tech (Group) 603227.SS | China | $1.14B | -17% | -8% | 12% | 10.3× | -7.6% | +22.0% |
| Guangdong Tloong Technology 300063.SZ | China | $946M | -26% | +21% | 2% | n/a | 25.0% | -6.6% |
| PCBL Chemical PCBL.NS | India | $1.16B | -8% | +6% | 8% | 23.5× | 27.6% | +25.1% |
| Jiangxi Guotai 603977.SS | China | $914M | -29% | +15% | 9% | 14.2× | n/a | n/a |
| Sinosteel Engineering & Technology 000928.SZ | China | $1.22B | -13% | +4% | 5% | 11.9× | -15.6% | -1.3% |
| Hainan Development Holdings Nanhai 002163.SZ | China | $892M | -44% | -9% | -3% | 37.0× | n/a | n/a |
| artience 4634.T | Japan | $1.25B | +18% | +7% | 6% | 9.3× | -3.9% | +6.3% |
| Mattr MATR.TO | Canada | $879M | +108% | +25% | 7% | 15.6× | 5.8% | +1.5% |
| Nihon Parkerizing 4095.T | Japan | $1.26B | +16% | +5% | 12% | n/a | -1.6% | +6.7% |
| TOCALO 3433.T | Japan | $864M | -26% | +6% | 23% | 11.8× | n/a | n/a |
| Fujimi 5384.T | Japan | $1.28B | -18% | +13% | 21% | 15.6× | n/a | n/a |
| Solar Applied Materials Technology 1785.TWO | Taiwan | $1.30B | -55% | +54% | 10% | n/a | -0.2% | +8.1% |
| ZETTA 002256.SZ | China | $843M | -40% | +25% | -5% | n/a | n/a | n/a |