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Employees: 667
Size Nippon Carbon (5302.T) is a Japan Materials company (Industrial Specialties) with a market value of $323M, the 1321st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,610 on 6 Nov 2026.
Performance Over six months the shares fell 3.8%, against -18.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 2.6% over the last twelve months (peer median +7.5%); the operating margin is 12.1% (peer median 5.2%).
Valuation It trades at 16.8× forward earnings against a peer median of 14.5× (2nd most expensive of 6).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.0 points below its cost of capital (6.7% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥38.5B | ¥37.7B | ¥38.0B | ¥37.9B | ¥35.8B |
| Revenue growth | — | -1% | 0% | +6% | — |
| Gross profit | ¥10.0B | ¥10.3B | ¥11.5B | ¥11.8B | ¥9.80B |
| EBITDA | ¥8.17B | ¥8.34B | ¥9.16B | ¥9.10B | ¥7.13B |
| Net income | ¥3.90B | ¥4.83B | ¥4.08B | ¥4.05B | ¥3.19B |
| Free cash flow | n/a | ¥818M | ¥567M | ¥133M | ¥4.02B |
| Capital expenditure | n/a | ¥5.53B | ¥4.72B | ¥3.11B | ¥1.84B |
| Total debt | ¥10.4B | ¥10.3B | ¥9.21B | ¥8.85B | ¥9.09B |
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 | 5302.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.0% | -8.8% | 5th lowest of 21 |
| 6-month return | -3.8% | -18.0% | 7th highest of 20 |
| Distance from 52-week high | -15.3% | -33.9% | 5th highest of 21 |
| Revenue growth (TTM) | +2.6% | +7.5% | 7th lowest of 21 |
| Operating margin | 12.1% | 5.2% | 4th highest of 21 |
| Forward P/E | 16.8× | 14.5× | 2nd most expensive of 6 |
| Growth the price implies (Req g, 7 yrs) | 3.5% | 14.3% | 3rd least demanding of 7 |
| Growth delivered (Del g) | +7.1% | +4.9% | 3rd highest of 7 |
| Hurdle (Req g minus delivered) | -3.6 pp | +1.3 pp | 4th least demanding of 7 |
| ROIC minus cost of capital | -2.0 pp | -2.2 pp | 10th highest of 21 |
| EV / EBITDA | 6.7× | 8.0× | 3rd cheapest of 9 |
| Net debt / EBITDA | -0.7× | 2.3× | 3rd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Carbon 5302.T | Japan | $323M | -4% | +3% | 12% | 16.8× | 3.5% | +7.1% |
| Dai Nippon Toryo 4611.T | Japan | $321M | +45% | +25% | 5% | n/a | n/a | n/a |
| Guangzhou Jointas Chemical Joint Stock 002909.SZ | China | $326M | -16% | -10% | -3% | n/a | n/a | n/a |
| Taiwan Paiho 9938.TW | Taiwan | $314M | -23% | -2% | 13% | 14.4× | n/a | n/a |
| Jiangsu Yabang Dyestuff 603188.SS | China | $350M | -22% | +13% | -9% | n/a | n/a | n/a |
| Jiangsu Jingxue Insulation Technology 301010.SZ | China | $354M | -1% | -28% | -1% | n/a | 33.3% | +2.2% |
| USI 1304.TW | Taiwan | $358M | -20% | -14% | -4% | n/a | n/a | n/a |
| Uzin Utz UZU.DE | Germany | $369M | -4% | +9% | 8% | 13.9× | 0.4% | +5.7% |
| Chongqing Sanxia Paints 000565.SZ | China | $371M | -28% | +18% | -12% | n/a | n/a | n/a |
| Yung Chi Paint & Varnish Mfg 1726.TW | Taiwan | $371M | 0% | -1% | 12% | n/a | -13.1% | +4.1% |
| Montauk Renewables MNTK | United States | $387M | +86% | +4% | 2% | 21.9× | n/a | n/a |
| Aspial A30.SI | Singapore | $269M | +31% | +23% | 10% | n/a | n/a | n/a |
| Focus Hotmelt 301283.SZ | China | $390M | -32% | +28% | 8% | 14.5× | n/a | n/a |
| Zhejiang Lanyu Digital Technology 301585.SZ | China | $390M | -18% | +22% | 13% | n/a | n/a | n/a |
| Aspen Aerogels ASPN | United States | $407M | -4% | -49% | -41% | n/a | 9.9% | +22.0% |
| Hunan Resun 001218.SZ | China | $408M | -27% | +37% | 5% | n/a | n/a | n/a |
| Hangzhou Toka Ink 688571.SS | China | $429M | -26% | +4% | 7% | n/a | n/a | n/a |
| Essentra ESNT.L | United Kingdom | $430M | +37% | +7% | 8% | 15.9× | 18.7% | -19.6% |
| Praise Victor Industrial 7768.TW | Taiwan | $434M | n/a | +3% | 16% | n/a | n/a | n/a |
| Sanlux 002224.SZ | China | $458M | -22% | +8% | -4% | n/a | n/a | n/a |
| Hubei Xiangyuan New Material Technology 300980.SZ | China | $461M | -52% | +15% | 5% | n/a | 21.6% | +13.8% |