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Employees: 5,934
Size Noritz (5943.T) is a Japan Industrials company (Industrial Machinery) with a market value of $633M, the 948th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,281 on 6 Nov 2026.
Performance Over six months the shares fell 2.9%, against -24.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue fell 0.8% over the last twelve months (peer median +12.3%); the operating margin is 2.2% (peer median 10.6%).
Valuation It trades at 12.8× forward earnings against a peer median of 14.6× (6th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +2%, 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 2.8 points below its cost of capital (5.1% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥203B | ¥202B | ¥202B | ¥202B | ¥211B |
| Revenue growth | — | 0% | 0% | -4% | — |
| Gross profit | ¥62.8B | ¥63.7B | ¥63.1B | ¥63.8B | ¥67.3B |
| EBITDA | ¥13.5B | ¥12.3B | ¥10.3B | ¥11.6B | ¥13.8B |
| Net income | ¥7.15B | ¥3.36B | ¥4.38B | ¥869M | ¥4.80B |
| Free cash flow | n/a | ¥3.75B | ¥1.60B | -¥9.59B | -¥2.03B |
| Capital expenditure | n/a | ¥6.21B | ¥7.01B | ¥7.72B | ¥4.44B |
| Total debt | ¥7.69B | ¥8.28B | ¥8.47B | ¥4.37B | ¥3.96B |
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 | 5943.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.0% | -17.6% | highest of 21 |
| 6-month return | -2.9% | -24.9% | 3rd highest of 20 |
| Distance from 52-week high | -12.3% | -50.3% | highest of 21 |
| Revenue growth (TTM) | -0.8% | +12.3% | 4th lowest of 21 |
| Operating margin | 2.2% | 10.6% | 8th lowest of 21 |
| Forward P/E | 12.8× | 14.6× | 6th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 4.1% | 12.4% | 4th least demanding of 9 |
| Growth delivered (Del g) | +1.9% | +8.6% | lowest of 9 |
| Hurdle (Req g minus delivered) | +2.2 pp | +5.2 pp | 4th least demanding of 9 |
| ROIC minus cost of capital | -2.8 pp | -4.6 pp | 10th highest of 21 |
| EV / EBITDA | 6.1× | 11.2× | 3rd cheapest of 8 |
| Net debt / EBITDA | -1.7× | -0.0× | 3rd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Noritz 5943.T | Japan | $633M | -3% | -1% | 2% | 12.8× | 4.1% | +1.9% |
| Zhejiang Kangsheng 002418.SZ | China | $632M | -34% | +14% | 2% | n/a | n/a | n/a |
| Sanchuan Wisdom Technology 300066.SZ | China | $632M | -35% | +16% | -1% | n/a | n/a | n/a |
| Chongqing Machinery & Electric 2722.HK | Hong Kong | $634M | -61% | +20% | 1% | 4.0× | 13.5% | +8.8% |
| Obara 6877.T | Japan | $630M | +12% | +17% | 17% | 10.6× | -0.2% | +6.9% |
| OK Science & Technology 001223.SZ | China | $629M | -19% | +10% | -5% | n/a | n/a | n/a |
| Man Industries (India) MANINDS.NS | India | $629M | +49% | +11% | 11% | 19.2× | n/a | n/a |
| Asahi Yukizai 4216.T | Japan | $638M | -8% | +1% | 11% | 16.4× | -1.8% | +8.4% |
| Ningbo BaoSi Energy Equipment 300441.SZ | China | $640M | -5% | 0% | 12% | 7.4× | n/a | n/a |
| Jiangsu Yawei Machine Tool 002559.SZ | China | $624M | -25% | +7% | 2% | 25.9× | 24.8% | +6.9% |
| Nextool Technology 688419.SS | China | $621M | -14% | +36% | 24% | 23.7× | 34.4% | +11.8% |
| Furukawa 5715.T | Japan | $646M | -24% | +10% | 6% | 12.8× | n/a | n/a |
| Shin Zu Shing 3376.TW | Taiwan | $648M | -47% | -22% | -2% | 11.1× | n/a | n/a |
| Yuhuan CNC Machine Tool 002903.SZ | China | $616M | -28% | -26% | -18% | 335.0× | n/a | n/a |
| Krn Heat Exchanger and Refrigeration KRN.NS | India | $651M | -29% | +77% | 15% | 46.3× | n/a | n/a |
| Glotech Industrial 5475.TWO | Taiwan | $652M | -56% | +101% | 12% | n/a | n/a | n/a |
| Techman Robot 4585.TW | Taiwan | $652M | -40% | +33% | 6% | n/a | 50.5% | +9.4% |
| Xiamen Dingrongyan Technology 301028.SZ | China | $614M | -25% | +15% | 16% | n/a | n/a | n/a |
| Valqua 7995.T | Japan | $611M | -6% | +15% | 15% | 10.2× | 11.3% | +5.5% |
| Shuifa Gas 603318.SS | China | $656M | -45% | -4% | 11% | n/a | n/a | n/a |
| Zhejiang Xinxing Tools 301677.SZ | China | $658M | n/a | +10% | 40% | n/a | -1.0% | +9.6% |