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Maker of industrial and residential shutters, doors and building products, owner of US-based Overhead Door Corporation.
Maker of industrial and residential shutters, doors and building products, owner of US-based Overhead Door Corporation.
Sells doors and shutters mostly to builders and contractors through dealers and distributors, and earns again on installation, servicing and replacement of doors already in buildings. The US business, built around Overhead Door, is now a large part of the group, and its garage and commercial doors follow housing and commercial construction there.
In one line: Japan's leading garage/industrial door maker, owns Overhead Door in the US.
Moat: narrow (brand, scale, distribution). Leading Japanese door/shutter brand plus the acquired Overhead Door brand gives US market scale.
Headquarters: Tokyo, Japan · Founded: 1958 · Employees: 13,174
Size Sanwa (5929.T) is a Japan Industrials company (Building Products) with a market value of $5.10B, the 240th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,845 on 6 Nov 2026.
Performance Over six months the shares gained 7.7%, against +1.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 1.7% over the last twelve months (peer median +4.4%); the operating margin is 11.2% (peer median 14.0%).
Valuation It trades at 14.8× forward earnings against a peer median of 16.1× (7th cheapest of 21).
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 +9%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.8 points above its cost of capital (6.9% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥669B | ¥661B | ¥662B | ¥611B | ¥588B |
| Revenue growth | — | 0% | +8% | +4% | — |
| Gross profit | ¥221B | ¥220B | ¥219B | ¥198B | ¥180B |
| EBITDA | ¥90.9B | ¥94.6B | ¥96.7B | ¥81.4B | ¥71.1B |
| Net income | ¥55.5B | ¥59.8B | ¥57.5B | ¥43.2B | ¥33.1B |
| Free cash flow | n/a | ¥47.2B | ¥61.3B | ¥59.1B | ¥24.4B |
| Capital expenditure | n/a | ¥14.2B | ¥15.7B | ¥13.4B | ¥10.0B |
| Total debt | ¥43.9B | ¥57.1B | ¥57.0B | ¥56.8B | ¥59.6B |
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 |
|---|---|---|---|---|---|---|
| Sanwa 5929.T | $5.10B | +8% | +2% | 11% | 14.8× | -2.6% |
| ASSA ABLOY ASSA-B.ST | $44.8B | +15% | 0% | 17% | 24.4× | 9.0% |
| LIXIL 5938.T | $3.07B | +4% | +2% | 2% | 38.8× | 17.3% |
| Bunka Shutter 5930.T | $779M | -1% | +3% | 6% | n/a | -12.9% |
| Griffon GFF | $4.58B | +15% | -12% | 20% | 17.1× | 7.5% |
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 | 5929.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.9% | 0.0% | 6th highest of 21 |
| 6-month return | +7.7% | +1.2% | 7th highest of 21 |
| Distance from 52-week high | -13.2% | -23.6% | 6th highest of 21 |
| Revenue growth (TTM) | +1.7% | +4.4% | 8th lowest of 21 |
| Operating margin | 11.2% | 14.0% | 8th lowest of 20 |
| Forward P/E | 14.8× | 16.1× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -2.6% | 6.2% | 5th least demanding of 19 |
| Growth delivered (Del g) | +9.1% | +6.0% | 6th highest of 19 |
| Hurdle (Req g minus delivered) | -11.7 pp | +1.3 pp | 5th least demanding of 19 |
| ROIC minus cost of capital | +11.8 pp | +5.1 pp | 6th highest of 20 |
| EV / EBITDA | 8.0× | 11.2× | 2nd cheapest of 16 |
| Net debt / EBITDA | -0.9× | 0.6× | 4th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sanwa 5929.T | Japan | $5.10B | +8% | +2% | 11% | 14.8× | -2.6% | +9.1% |
| Toto 5332.T | Japan | $5.40B | -1% | +5% | 8% | 18.2× | 7.8% | +5.0% |
| Griffon GFF | United States | $4.58B | +15% | -12% | 20% | 17.1× | 7.5% | +4.0% |
| Fortune Brands Innovations FBIN | United States | $5.74B | +27% | -3% | 14% | 19.7× | 5.3% | -6.0% |
| SPX Technologies SPXC | United States | $7.15B | -30% | +20% | 17% | 15.3× | 15.7% | +15.0% |
| Nichias 5393.T | Japan | $3.52B | -5% | +3% | 15% | 15.2× | 7.1% | +5.1% |
| STO Express 002468.SZ | China | $3.40B | -8% | +26% | 5% | 10.2× | -12.5% | +20.8% |
| Simpson Manufacturing SSD | United States | $8.07B | +4% | +5% | 20% | 20.9× | 13.2% | +13.0% |
| Rinnai 5947.T | Japan | $3.07B | -3% | +4% | 10% | 13.3× | -9.5% | +6.4% |
| A. O. Smith AOS | United States | $8.67B | +10% | -1% | 18% | 17.3× | 4.5% | +5.8% |
| Shanghai Mechanical & Electrical Industry 600835.SS | China | $2.34B | -27% | -2% | 2% | 22.5× | 0.6% | -3.8% |
| Reliance Worldwide RWC.AX | Australia | $2.33B | +47% | -5% | 12% | 16.3× | 9.9% | +7.5% |
| Qingdao East Steel Tower Stock 002545.SZ | China | $2.25B | -50% | +23% | 32% | 8.5× | -10.2% | +13.0% |
| Watsco WSO | United States | $12.7B | -28% | 0% | 9% | 24.3× | 13.2% | +7.4% |
| Jangho 601886.SS | China | $2.01B | +26% | +14% | 5% | 15.0× | -0.1% | +3.9% |
| Kajaria Ceramics KAJARIACER.NS | India | $1.96B | +7% | +14% | 16% | 26.1× | 26.2% | +11.7% |
| Tecnoglass TGLS | United States | $1.95B | +10% | +10% | 18% | 13.8× | n/a | n/a |
| SPIC Industry-Finance 000958.SZ | China | $14.0B | -14% | +102% | n/a | 22.2× | n/a | n/a |
| Hyundai Elevator 017800.KS | South Korea | $1.79B | -31% | -9% | 9% | 9.4× | -5.5% | +6.3% |
| Carlisle Companies CSL | United States | $14.5B | +4% | +4% | 20% | 15.9× | 3.7% | +4.8% |
| Interface TILE | United States | $1.78B | +4% | +7% | 12% | 14.5× | 11.4% | +4.7% |