Who are Disco's main competitors?

Named competitors: Tokyo Seimitsu (7729.T), Applied Materials (AMAT), ASMPT (0522.HK), Advanced Dicing Technologies (private or unlisted). The cockpit's measured peer set (industry) also includes Jabil (JBL), Entegris (ENTG), MKS (MKSI), HANMISemi (042700.KS), Screen (7735.T).

How has Disco stock performed?

Over six months to 6 Nov 2026 the shares returned -44.8% against -32.7% for the median peer; over one year -22.3%.

← CockpitCompetitor Analysis › 6146.T Disco CorporationOpen in the cockpit ↗

Disco Corporation6146.TCompetitor analysis, valuation and peers

Japan · JPY·Information Technology›Industrial Machinery

Maker of precision cutting, grinding and polishing tools that separate silicon wafers into individual chips.

≈ A niche, wafer-dicing-specific Applied MaterialsMomentum laggard 2

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$28.1B

US dollars, full cap

Free float

82%

of shares outstanding

$/day

$719M

20-day average traded

Fwd P/E

23.2×

forward earnings

ROIC−WACC

+38.7 pp

WACC 14.9%

Hurdle

+6 pp

Req g minus delivered

Next earnings

83 days

28 Jan 2027

Close · JPY¥40,860

1D-1.4%

1W-21.9%

1M-37.6%

3M-32.5%

6M-44.8%

YTD-14.7%

1Y-22.3%

ATR %8.2%

52w lowhigh55.4% off high

What Disco does

Maker of precision cutting, grinding and polishing tools that separate silicon wafers into individual chips.

Sells machines that cut and grind wafers, then earns again from the blades and grinding wheels those machines wear out, so each installed tool ties in later consumable purchases. Orders follow chipmakers' equipment spending, with Asia the largest region.

In one line: A niche, wafer-dicing-specific Applied Materials.

Products and services

Dicing saws
Grinders
Polishers
Consumables (blades/wheels)

Customers

TSMC
Samsung Electronics
memory & logic chipmakers
OSAT firms

Where it sits in the supply chain

Semiconductors
Back-end/packaging equipment
Dicing, grinding, polishing

What could go right

Advanced packaging (chiplets, HBM) needing finer dicing
Recurring consumables revenue

What could go wrong

Semiconductor capex cyclicality
Concentration in a few large fabs

Moat: narrow (installed base, process know-how, switching costs). Dominant share in precision dicing; consumable blades create recurring, sticky revenue.

Headquarters: Tokyo, Japan · Founded: 1937 · Employees: 5,547

Named competitors

Tokyo Seimitsu 7729.T
Applied Materials AMAT
ASMPT 0522.HK
Advanced Dicing Technologies private or unlisted

Disco at a glance

Size Disco (6146.T) is a Japan Information Technology company (Industrial Machinery) with a market value of $28.1B, the 57th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥40,860 on 6 Nov 2026.

Performance Over six months the shares fell 44.8%, against -32.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd lowest of 6 in its peer set.

Growth Revenue grew 22.2% over the last twelve months (peer median +9.4%); the operating margin is 44.4% (peer median 19.2%).

Valuation It trades at 23.2× forward earnings against a peer median of 13.5× (3rd most expensive of 6).

Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +6 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 38.7 points above its cost of capital (14.9% WACC).

Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Disco against the median of its 5 peers (local-currency closes).

Disco financials

Reported figures in JPY; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	¥499B	¥437B	¥393B	¥308B	¥284B
Revenue growth	—	+11%	+28%	+8%	—
Gross profit	¥355B	¥306B	¥277B	¥209B	¥184B
EBITDA	¥237B	¥199B	¥179B	¥132B	¥121B
Net income	¥160B	¥136B	¥124B	¥84.2B	¥82.9B
Free cash flow	n/a	¥97.8B	¥52.4B	¥81.3B	¥67.6B
Capital expenditure	n/a	¥35.8B	¥68.0B	¥16.3B	¥14.3B
Total debt	¥0	¥0	¥0	¥0	¥0

Quarterly statements and history in the cockpit →

Disco competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Disco is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Disco is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Disco is the large dot.

Disco competitors and peer comparison

Head to head with its named competitors (6146.T vs 7729.T vs AMAT vs 0522.HK)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Disco 6146.T	$28.1B	-45%	+22%	44%	23.2×	25.4%
Tokyo Seimitsu 7729.T	$3.16B	-29%	+17%	22%	15.2×	16.0%
Applied Materials AMAT	$264B	-24%	+8%	31%	18.8×	25.5%
Asmpt 0522.HK	$5.02B	-47%	+21%	9%	20.4×	12.1%

How Disco compares with its peers

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.

Disco against its 5 peers (data as of 6 Nov 2026)
Measure	6146.T	Peer median	Rank in peer set
1-month return	-37.6%	-26.2%	3rd lowest of 6
6-month return	-44.8%	-32.7%	2nd lowest of 6
Distance from 52-week high	-55.4%	-57.0%	3rd highest of 6
Revenue growth (TTM)	+22.2%	+9.4%	highest of 6
Operating margin	44.4%	19.2%	highest of 6
Forward P/E	23.2×	13.5×	3rd most expensive of 6
Growth the price implies (Req g, 7 yrs)	25.4%	24.0%	3rd most demanding of 6
Growth delivered (Del g)	+19.0%	+11.4%	highest of 6
Hurdle (Req g minus delivered)	+6.4 pp	+13.0 pp	3rd least demanding of 6
ROIC minus cost of capital	+38.7 pp	+10.7 pp	highest of 6
EV / EBITDA	17.2×	15.3×	3rd most expensive of 6
Net debt / EBITDA	-1.4×	1.0×	least indebted of 6

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Disco 6146.T	Japan	$28.1B	-45%	+22%	44%	23.2×	25.4%	+19.0%
Jabil JBL	United States	$24.6B	-33%	+21%	5%	13.5×	8.3%	+4.2%
Entegris ENTG	United States	$19.6B	-14%	+9%	19%	23.7×	26.3%	+11.4%
MKS MKSI	United States	$13.0B	-39%	+16%	17%	11.5×	24.0%	+11.0%
HANMISemi 042700.KS	South Korea	$11.3B	-56%	-20%	42%	54.4×	41.7%	+17.5%
Screen 7735.T	Japan	$9.20B	-24%	+3%	20%	12.4×	17.3%	+13.6%

Questions

Who are Disco's main competitors?: Named competitors: Tokyo Seimitsu (7729.T), Applied Materials (AMAT), ASMPT (0522.HK), Advanced Dicing Technologies (private or unlisted). The cockpit's measured peer set (industry) also includes Jabil (JBL), Entegris (ENTG), MKS (MKSI), HANMISemi (042700.KS), Screen (7735.T).
Is Disco expensive compared with its peers?: On forward p/e it trades at 23.2× against a peer median of 13.5×, 3rd most expensive of 6 in its peer set. For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +6 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.
How has Disco stock performed?: Over six months to 6 Nov 2026 the shares returned -44.8% against -32.7% for the median peer; over one year -22.3%.