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Japanese specialty-steel maker producing alloy and tool steel for automotive, aerospace and industrial customers, plus magnetic materials.
Japanese specialty-steel maker producing alloy and tool steel for automotive, aerospace and industrial customers, plus magnetic materials.
Sells special steel made to each customer's specification, with pricing that passes scrap and alloy costs through, so volume and product mix matter more than steel price swings. Carmakers and their parts suppliers are the main buyers, and magnets for hybrid and electric car motors add exposure to that shift.
In one line: A specialty-alloy steelmaker akin to Carpenter Technology.
Moat: narrow (process know-how, customer qualification). Metallurgical know-how and long qualification cycles with automotive/aerospace customers create switching costs.
Headquarters: Nagoya, Japan · Founded: 1916 · Employees: 12,729
Size Daido Steel (5471.T) is a Japan Materials company (Steel) with a market value of $2.29B, the 447th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,754 on 6 Nov 2026.
Performance Over six months the shares fell 3.8%, against -31.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median -0.4%); the operating margin is 6.7% (peer median 2.6%).
Valuation It trades at 10.8× forward earnings against a peer median of 19.2× (3rd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +2 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 4.4 points below its cost of capital (8.4% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥624B | ¥578B | ¥575B | ¥579B | ¥579B |
| Revenue growth | — | +1% | -1% | 0% | — |
| Gross profit | ¥109B | ¥98.9B | ¥102B | ¥95.9B | ¥101B |
| EBITDA | ¥74.4B | ¥67.6B | ¥73.1B | ¥68.6B | ¥79.3B |
| Net income | ¥37.9B | ¥32.6B | ¥28.3B | ¥30.6B | ¥36.3B |
| Free cash flow | n/a | ¥13.5B | ¥11.9B | ¥17.9B | ¥877M |
| Capital expenditure | n/a | ¥52.6B | ¥41.6B | ¥32.4B | ¥27.0B |
| Total debt | ¥227B | ¥182B | ¥177B | ¥176B | ¥240B |
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 |
|---|---|---|---|---|---|---|
| Daido Steel 5471.T | $2.29B | -4% | +8% | 7% | 10.8× | 8.8% |
| Carpenter Technology CRS | $13.8B | -35% | +10% | 23% | 20.0× | 17.4% |
| Aichi Steel 5482.T | $970M | -17% | +4% | 5% | 14.2× | 1.6% |
| Kobe Steel 5406.T | $4.83B | 0% | -3% | 5% | 7.7× | -1.1% |
| ATI ATI | $23.9B | +11% | +9% | 18% | 28.0× | 20.6% |
| Sandvik SAND.ST | $45.8B | -1% | +14% | 20% | 21.0× | 13.3% |
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 | 5471.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -33.8% | -7.6% | lowest of 21 |
| 6-month return | -3.8% | -31.3% | 3rd highest of 20 |
| Distance from 52-week high | -41.6% | -41.0% | 11th highest of 21 |
| Revenue growth (TTM) | +8.4% | -0.4% | 7th highest of 21 |
| Operating margin | 6.7% | 2.6% | 7th highest of 20 |
| Forward P/E | 10.8× | 19.2× | 3rd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 8.8% | 12.9% | 9th least demanding of 19 |
| Growth delivered (Del g) | +7.0% | +6.2% | 8th highest of 19 |
| Hurdle (Req g minus delivered) | +1.9 pp | +5.9 pp | 8th least demanding of 19 |
| ROIC minus cost of capital | -4.4 pp | -3.1 pp | 9th lowest of 20 |
| EV / EBITDA | 7.5× | 9.0× | cheapest of 7 |
| Net debt / EBITDA | 2.1× | 0.9× | 3rd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Daido Steel 5471.T | Japan | $2.29B | -4% | +8% | 7% | 10.8× | 8.8% | +7.0% |
| Advanced Technology & Materials 000969.SZ | China | $2.28B | -32% | +37% | 5% | 40.2× | 16.2% | +9.8% |
| Maanshan Iron & Steel 0323.HK | Hong Kong | $2.27B | -50% | 0% | 0% | 18.0× | 3.8% | -1.7% |
| Alleima ALLEI.ST | Sweden | $2.32B | +9% | -5% | 7% | 21.5× | 12.9% | +0.4% |
| Hainan Mining 601969.SS | China | $2.44B | -33% | +29% | 17% | 13.9× | 0.8% | +9.9% |
| KIOCL KIOCL.NS | India | $2.15B | -18% | +27% | -6% | n/a | n/a | n/a |
| Angang Steel 0347.HK | Hong Kong | $2.48B | -32% | -1% | -7% | n/a | n/a | n/a |
| Xinxing Ductile Iron Pipes 000778.SZ | China | $2.05B | -24% | +15% | 2% | 20.5× | -6.9% | -2.8% |
| Sims SGM.AX | Australia | $2.62B | -11% | +7% | 4% | 10.5× | 14.6% | +6.2% |
| Outokumpu OUT1V.HE | Finland | $1.99B | -31% | -7% | -1% | 20.3× | 14.0% | -0.7% |
| Aperam APAM.AS | Netherlands | $2.63B | -32% | -4% | 2% | 13.6× | 12.9% | +10.9% |
| Shandong Iron and Steel 600022.SS | China | $1.98B | -12% | -10% | n/a | 12.6× | 1.3% | -5.1% |
| Hyundai Steel 004020.KS | South Korea | $2.73B | -34% | +2% | 1% | 74.3× | -1.2% | +4.8% |
| Hangzhou Iron & Steel 600126.SS | China | $2.73B | -38% | -58% | -1% | n/a | 19.3% | +9.8% |
| Zhejiang Jiuli Hi-Tech Metals 002318.SZ | China | $2.75B | -37% | -38% | 4% | 25.9× | 15.4% | +19.5% |
| Fujian Makeng Mining 601123.SS | China | $2.76B | n/a | -3% | 41% | n/a | 29.1% | -1.0% |
| Shanxi Taigang Stainless Steel 000825.SZ | China | $2.78B | -24% | +1% | -1% | 65.0× | 7.4% | +6.1% |
| Worthington Steel WS | United States | $1.88B | -9% | +69% | 3% | 9.7× | 26.5% | -1.5% |
| Tung Ho Steel Enterprise 2006.TW | Taiwan | $1.86B | +26% | -4% | 12% | 11.2× | -10.3% | +6.2% |
| Ratnamani Metals & Tubes RATNAMANI.NS | India | $1.83B | -13% | -16% | 14% | 31.8× | 27.4% | +14.4% |
| Yongxing Special Materials Technology 002756.SZ | China | $2.88B | -59% | +30% | 16% | 11.2× | -2.3% | +8.4% |